California

SAN FRANCISCO — American Realty Advisors has purchased Foundry Square III, a 291,093-square-foot office building in San Francisco’s Transbay District, for an undisclosed sum. The building is situated one block from San Francisco’s $4.5 billion Transbay Transit Center. It is fully leased to tenants like IBM, NASDAQ, Perkins Coie, Neustar and Silicon Valley Bank. Jeffrey Weber and Stephen Van Dusen of Eastdil Secured represented the seller, a development joint venture between Tishman Speyer and institutional investors advised by J.P. Morgan Asset Management.

LOS ANGELES — An undisclosed buyer has acquired two ground lease investments at One and Two California Plaza at a public sale for more than $100 million. The leased-fee land parcels, which include six acres underneath the office property, were offered for public sale in conjunction with the liquidation of 52 assets held by CRA/LA. One California Plaza is a 42-story office tower and six-level subterranean parking garage at 300 S. Grand Ave. Notable tenants include AECOM, Skadden Arps, Morgan Lewis, Nixon Peabody and Bank of the West. Two California Plaza is a 52-story office building with a 44,000-square-foot retail plaza and a six-level subterranean parking garage at 350 S. Grand Ave. Tenants include Mayer Brown, Constellation New Energy, Merrill Lynch, Reliance Steel, Mizuho Bank, BlackRock and the Consulate General of Japan. The full CRA/LA portfolio contained a total of 52 commercial and residential properties located in Los Angeles urban infill districts like downtown Los Angeles, Hollywood and the North Hollywood Arts District. The initial disposition began July 15, 2015. The sale of CRA/LA properties represents the conclusion of a legislative mandate to terminate redevelopment agencies across California. Other primary assets involved in the public disposition included the ArcLight Hollywood Parking …

BREA, CALIF. — JCR Capital has acquired Brea Corporate Plaza and Brea Park Centre, a four-building office portfolio in Brea, for $55.6 million. The properties contain a total of 290,657 square feet. The portfolio is located at 500 S. Kraemer Blvd., 2601 Saturn St., 2650 Imperial Highway and 3230 E. Imperial Highway. HFF arranged $39 million in acquisition financing. The loan features a three-year term and floating rate through Prime Finance. The financing has two 12-month extensions. HFF also marketed the property on behalf of the sellers, The PRES Companies and Mariner Real Estate Management.