IRVINE, CALIF. — Jeramy Mahfet has joined PREMIER Design + Build Group’s Southwest office as project manager. He will help develop, design and build projects for the firm throughout California. Mahfet spent the past four years working with some of the biggest organizations in the public and private sectors throughout Southern California. He also specializes in large projects and design sustainability. One of Mahfet’s most notable projects includes a $200 million, 450,000-square-foot office building for a major global automaker that achieved LEED-Gold certification. He also managed the construction on a $30 million, mixed-use retail, restaurant and office center. Mahfet is a member of the American Society of Civil Engineers. He earned a degree in civil engineering at California State University, Fullerton.
CARLSBAD, CALIF. — CBRE Capital Markets’ Debt & Structured Finance team has arranged a $43 million loan for Cornerstone Real Estate Advisers LLC to refinance Bressi Ranch Village Center, a retail center in Carlsbad. Michael Riccio and Mark McGovern of CBRE’s San Diego office secured the long-term, fixed-rate loan for the borrower. Delivered in 2010, the 116,403-square-foot center is 97 percent occupied by 30 tenants, including Stater Bros. and Trader Joe’s.
SANTA CLARITA, CALIF. — Hanley Investment Group Real Estate Advisors (HIG) has arranged the sale of Bouquet Center, a 148,903-square-foot, grocery-anchored shopping center located in the Los Angeles suburb of Santa Clarita. The price was not disclosed. Ed Hanley and Kevin Fryman of HIG represented the seller, a Los Angeles-based private investor, in the sale of the property to an undisclosed, publically traded REIT. Built in 1985, the center underwent a $7 million renovation in 2007. Tenants at the 95 percent occupied property include Vons, CVS/pharmacy, Ross Dress for Less, Chase, Citibank, Wendy’s, Baskin Robbins, Jersey Mike’s Sub, Little Caesars Pizza and Payless ShoeSource.
SAN DIEGO — Excel Trust has hired Luke Petherbridge president and CEO. Petherbridge currently serves as the CFO and treasurer of DDR Corp., a power center REIT with 352 value-oriented shopping centers. At DDR Corp., Petherbridge has overseen the execution of $5 billion worth of real estate transactions, raised over $9 billion of long-term capital and supported various strategic initiatives. A fund managed by Blackstone Real Estate acquired Excel Trust in 2015. Through additional acquisitions, the San Diego-based company’s leased and managed portfolio will have more than doubled to include over 80 retail assets covering 19 million square feet. The portfolio consists of high-quality, open-air shopping centers with concentrations in California, Texas, New York and Florida.
CONEJO VALLEY, CALIF. — Oak Park Properties LLC has acquired Oak Park Plaza, a lifestyle center located at 702-706 Lindero Canyon Road in Conejo Valley. Oak Park Assets LLC sold the property for $11.9 million. Tenants at the 29,950-square-foot retail property include Subway, On the Thirty, Stevenson Fitness and Margarita’s Mexican Restaurant. Jeff McGuire and Slavic Zlatkin of Lee & Associates – LA North/Ventura represented the seller, while Zlaktin also represented the buyer in the off-market transaction.
SAN MARCOS, CALIF. — Blueprint Healthcare Real Estate Advisors, a brokerage based in Chicago, has arranged the $18 million sale of Village Square, a 118-bed skilled nursing facility in San Marcos, approximately 35 miles north of San Diego. A publicly traded REIT seeking to divest non-core assets sold the property to a Los Angeles-based investor. The new owner plans to implement a turnaround strategy at the facility. The sales price equates to approximately $68,000 per bed. Christopher Hyldahl and Ben Firestone of Blueprint executed the transaction.
SOLANA BEACH, CALIF. — Hanley Investment Group has brokered the sale of Gateway @ Cedros, a coastal retail center located in Solana Beach. A Canada-based real estate investment fund acquired the multi-tenant retail building from an Encinitas, Calif.-based private investment company for $6.7 million, or $837 per square foot. Located at 100-116 S. Cedros Ave. and 121-129 Lomas Santa Fe Drive, the 8,035-square-foot property fully occupied and anchored by Peet’s Coffee. Eric Wohl of Hanley Investment represented the seller and buyer in the transaction.
FARFIELD, CALIF. — Panattoni Development Co. has started construction of Gateway80 Business Park, a 1 million-square-foot spec industrial park in Fairfield. The project is situated between San Francisco and Sacramento, 12 miles from the Napa Valley wine region. The 52.4-acre site is just off Interstate 80. It will consist of two 430,500-square-foot buildings and a 178,000-square-foot building, all designed and built to LEED standards. The developers expect the project will be complete and available for tenancy by the end of the year. JLL’s Matt Bracco, Glen Dowling and Chris Neeb will handle the leasing.
SAN DIEGO — Lee & Associates – North San Diego County has arranged the sale of a vacant retail building located at 8776 Lake Murray Blvd. in San Diego. Student Success Programs, a local charter school, acquired the 5,470-square-foot building for $2.1 million. The freestanding building is part of the Navajo Shopping Center in the La Mesa neighborhood of San Diego. Bo Havlik of Lee & Associates – North San Diego County represented the seller, a private investor, while Russ Merrill of The Merrill Group represented the buyer.
VALLEJO, CALIF. — Faris Lee Investments has arranged the sale of a freestanding, single-tenant restaurant property located at 1195 Admiral Callaghan Lane in Vallejo. Kam Property Holding LLC acquired the 2,240-square-foot property from River Rock LLC for $1.9 million, or $848 per square foot. The property is triple-net leased to Chipotle Mexican Grill, with less than 10 years remaining on its lease. Christopher DePierro and Jeff Conover of Faris Lee Investments represented the seller.