California

SAN DIEGO — Kearny Real Estate Company has purchased the 364,000-square-foot office component of Emerald Plaza in San Diego for $91.7 million. The office component features four hexagonal towers ranging from 20 to 30 stories. Emerald Plaza includes a connected 436-room hotel operated by Westin Hotel, which was not part of the transaction. Emerald Plaza encompasses a full city block at 402 W. Broadway in downtown San Diego. The plaza, which Deutsche Bank has owned since 2005, was 70 percent leased at closing. Local developer and entrepreneur Sandy Sharpery built the property in 1990. HFF’s Ryan Gallagher, Nick Psyllos, Nick Frasco and Michael Leggett represented Deutsche Bank. CBRE’s Ryan Grant, Matt Carlson and Jeff Oesterblad will head up the leasing efforts at Emerald Plaza.

SAN MARCOS, CALIF. — Ccare has leased 20,230 square feet of medical office space at Nordahl Medical Centre in the San Diego submarket of San Marcos. The Class A building is located at 838 Nordahl Road. The space will serve as a clinic for Ccare’s oncology and hematology practice. Nordahl Medical Centre was developed by Newport National Corp. JLL’s Paul Braun, Chris Ross and Kelly Moriarty represented the landlord. CBRE’s Lars Eisenhaur and Dan Yeilding represented Ccare.

LOS ANGELES — A joint venture between Angelo, Gordon & Co. and Lincoln Property Co. has purchased LNR Warner Center IV, a 510,105-square-foot office property in the Los Angeles submarket of Woodland Hills, for $147 million. The property includes two Class A office buildings, as well as a 0.88-acre land parcel that can accommodate a 7,500-square-foot retail building. LNR Warner Center IV is located at 21255 and 21215 Burbank Blvd. It is the newest phase in LNR Warner Center’s four-phase, master-planned office campus, which includes 1.3 million square feet in seven office buildings. Notable tenants include Activision, New York Life Insurance, Wells Fargo, United Online and Kaiser Permanente. Kevin Shannon, Ken White, Rob Hannan and Laura Stumm of NGKF Capital Markets, along with JLL’s Dan Sanchez, represented both the buyer and seller in this transaction. David Milestone and Scott Selke of NGKF Capital Markets arranged acquisition financing on behalf of the buyers.

SAN FRANCISCO — A joint venture between Kennedy Wilson and the Takenaka Corp. has purchased a 247,000-square-foot office tower in San Francisco for $135 million The Class A building is located at 400 and 430 California St. The sale includes a 27,000-square-foot bank branch. MUFG Union Bank is both the seller and the sole occupant of the property. The company will lease the property and vacate the tower over the next two years on a staggered basis. It will vacate the bank branch after four years. The tower will also undergo a complete interior renovation. James Andrew International represented Takenaka in this transaction.