California

Sunroad Enterprises to Develop Centrumplace Office Campuses in San Diego

by Nellie Day March 29, 2016

SAN DIEGO — Sunroad Enterprises has announced plans to develop Centrumplace II and III, a 583,000-square-foot office campus in central San Diego. Centrumplace is the commercial centerpiece of the Centrum Master Plan, which includes eight acres of business facilities, retail, residences and green space. The development already features Centrum I, a 275,000-square-foot building completed in 2008. The new addition will include Centrum II and Centrum III. The structures will include flexible floor plates that can range from 24,800 to 59,500 square feet. Dave Odmark, Eric Vann and Brian Starck from Cushman & Wakefield will lease the property. Gensler is designing the campus.

March 29, 2016

California Retail Western

Ross Stores Opens 28 New Locations

by Nellie Day March 29, 2016

DUBLIN, CALIF. — Ross Stores recently opened 22 Ross Dress for Less® and six dd’s DISCOUNTS stores across 15 states in February and March. These new locations are part of the company’s 2016 expansion plans to add approximately 70 Ross and 20 dd’s DISCOUNTS locations throughout the year. “These recent openings reflect our ongoing plans to continue building our presence in both existing and newer markets, including the Midwest for Ross, and expansion of dd’s DISCOUNTS,” says Jim Fassio, president and chief development officer. “Ross Dress for Less remains the largest off-price apparel and home fashion chain in the U.S with 1,295 locations in 34 states, the District of Columbia and Guam. We continue to identify plenty of domestic growth opportunities ahead for both Ross and dd’s DISCOUNTS, and believe that over the long term, Ross can grow to 2,000 total locations and dd’s DISCOUNTS can become a chain of 500 stores.” Ross Stores, Inc. is headquartered in Dublin, Calif.

March 29, 2016

California Office Western

Montana Avenue Capital Partners Buys Torrance Pointe Office Campus for $25.4M

by Nellie Day March 28, 2016

TORRANCE, CALIF. — Montana Avenue Capital Partners has purchased Torrance Pointe, a 145,280-square-foot office campus, for $25.4 million. The low-rise campus is located at 21041, 21061 and 21081 S. Western Ave. in Torrance. It is 97 percent leased to tenants like Honda Motor Company, AT&T and Hitachi Transport System. HFF’s Andrew Harper represented the seller, Amstar Capital, in this transaction.

March 28, 2016

California Retail Western

American National Investments Acquires Restaurant Building in San Diego for $2.3M

by Nellie Day March 28, 2016

SAN DIEGO — American National Investments has acquired a restaurant building located at 369 10th Ave. in downtown San Diego’s East Village neighborhood. The 4,000-square-foot asset sold for $2.3 million. The buyer plans to operate a restaurant at the two-story property. Retail Insite represented the undisclosed seller in the transaction.

March 28, 2016

California Retail Western

NGKF Arranges $3.7M Lease with Phenix Salon Suites in Santa Ana

by Nellie Day March 28, 2016

SANTA ANA, CALIF. — Newmark Grubb Knight Franck has arranged a new lease with Colorado Springs, Colo.-based Phenix Salon Suites. Phenix Salon Suites will occupy 7,000-square-foot at the newly constructed, single-tenant retail building. The new salon will open in September 2016. The 15-year lease is valued at $3.7 million. Randee Stratton of NGKF represented Phenix Salon Suites. The landlord is an entity of Red Mountain Retail Group.

March 28, 2016

California Retail Western

Dick’s Sporting Goods Coming to Del Amo Fashion Center in Torrance

by Nellie Day March 28, 2016

TORRANCE, CALIF. — Simon Property Group has signed Dick’s Sporting Goods as an anchor for Del Amo Fashion Center in Torrance. The two-level, 83,000-square-foot store will be the largest Dick’s prototype store for its new design. The store will be located on the south portion of the center on the second and third levels of the former Macy’s, which was consolidated from three stores to two units last summer. The new Dick’s Sporting Goods is slated to open in spring 2017.

March 28, 2016

California Loans Retail Western

JLL Secures $55M Refinancing for 213,655 SF Retail Asset in San Luis Obispo

by Nellie Day March 25, 2016

SAN LUIS OBISPO, CALIF. — JLL has secured a $55 million loan for Jamestown LP to refinance The San Luis Obispo Collection, a 213,655-square-foot retail asset located in San Luis Obispo. The collection totals eight buildings: two multi-tenanted retail properties and six standalone historical buildings. Additionally, the asset is nearly fully leased to a credit tenant roster. John Manning, Alex Witt, Pavan Malhotra and Sarah Bernhisel of JLL arranged the financing for the borrower.

March 25, 2016

California Loans Retail Western

Meridian Capital Arranges $17.8M Acquisition Loan for Marina, Mixed-Use Portfolio

by Nellie Day March 25, 2016

NEWPORT BEACH, CALIF. — Meridian Capital Group has negotiated $17.8 million in bridge financing for the purchase of a marina and mixed-use portfolio located at 2751 and 2801 Coast Highway and 2620 Avon St. in Newport Beach. The three-year, non-recourse loan features floating-rate, interest-only payments for the full term and two one-year extension options. A bridge lender provided the capital. The portfolio consists of three retail-oriented properties, a 24-slip marina and an off-site parking lot. The properties total 29,350 square feet and house Billy’s at the Beach and The Ritz restaurant. Brandon Harris of Meridian Capital Group negotiated the financing for the undisclosed borrower.

March 25, 2016

California Retail Western

NAI Capital Brokers Sale of 97,497 SF Supermarket Site in Monrovia

by Nellie Day March 25, 2016

MONROVIA, CALIF. — NAI Capital has arranged the sale of mostly vacant retail supermarket site located at 723-727 E. Huntington Drive in Monrovia. 723 EHD LLC acquired the 97,497-square-foot site, known as Shamrock Center, for an undisclosed price. The property was 90 percent vacant at the time of sale, with O’Reilly Auto Parts as the remaining tenant. The property was originally built in 1972 for Kmart. Scott Martin and James Houghton of NAI Capital represented the buyer in the transaction.

March 25, 2016

California Industrial Western

Wood Kusaka Studios Buys Industrial Building in Los Angeles for $3.3M

by Nellie Day March 25, 2016

LOS ANGELES — Wood Kusaka Studios has acquired a 14,474-square-foot light industrial property in Los Angeles for $3.3 million. The building is located at 310 N. Madison Ave. It was built in 1971. The property was previously used as a flex space for entertainment and sporting events. Wood Kusaka will use the property as its art studio. It is relocating from nearby Culver City. John Anthony, Chris Steck, Dennis Slattery and Chris Giordano of Charles Dunn Company represented the seller, Fitzpatrick Trust, in this transaction.

March 25, 2016

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