California

Talmadge Gateway Buys Retail Center in San Diego for Conversion to Seniors Housing

by Nellie Day March 23, 2016

SAN DIEGO — Talmadge Gateway LP has acquired a 35,183-square-foot retail center in the San Diego submarket of Talmadge for $2.5 million. Wakeland Housing and Development Corp. will redevelop the site to incorporate a mix of retail and affordable residential units for disabled seniors. Alessio Leasing Corp. sold the property, which includes three parcels. Ricardo Lopez and Keith Courtney of San Diego-based brokerage firm ACI Apartments represented both the buyer and the seller in the transaction. The property was acquired with a mix of public and private financing, including a loan from the San Diego Housing Commission and Wells Fargo bank. Renee Marshal of Chicago Title Co. handled escrow. Chris Ghio of Chicago Title handled the title insurance.

March 23, 2016

California Industrial Western

LAU Enterprises Relocates to Warehouse in Los Angeles

by Nellie Day March 23, 2016

LOS ANGELES — LAU Enterprises has relocated to a 32,356-square-foot warehouse distribution space in the Los Angeles submarket of North Hills. The new space is located at 8321 DeCelis Place. The wholesale picture frame distributor was previously located at Mission Industrial Park in Van Nuys. The new space will serve as the company’s warehouse and corporate headquarters. Matt Ehrlich of NAI Capital represented LAU Enterprises in this transaction.

March 23, 2016

California Western

Coldwell Banker Commercial Sudweeks Group Merges with Coldwell Banker Commercial Inland Empire

by Nellie Day March 23, 2016

ONTARIO, CALIF. — Coldwell Banker Commercial Sudweeks Group has completed its merger with Coldwell Banker Commercial Inland Empire. The combined entities will now operate as Coldwell Banker Commercial SC (CBC SC). The new company claims it will be one of the largest commercial real estate firms in Southern California, with offices in San Diego, Ontario, Temecula and Redlands. CBC SC currently houses 40 full-time commercial real estate advisors specializing in industrial, office, retail, multifamily, land and investments. CBC SC plans to expand its market share and recruit heavily in the Southern California markets in the next few years. Dan Richards, the company’s chairman of the board, will help train and recruit new agents.

March 23, 2016

California Office Western

Lincoln Property Company Reacquires Office Tower in Los Angeles

by Nellie Day March 22, 2016

LOS ANGELES — Lincoln Property Company has purchased a 22-story office tower in Downtown Los Angeles that it had previously sold in 2007. The latest purchase price was not disclosed. The Class A asset is located at 915 Wilshire Blvd. It is situated across the street from the 73-story Wilshire Grand Center. Lincoln plans to renovate 915 Wilshire by updating the ground-floor lobby and valet area. It will also redesign the outdoor patio space, as well as replace elevators and dated building systems. Though the firm previously sold the 390,312-square-foot property to Brickman Associates, it stayed on as the tower’s property manager and leasing agent. The tower was built in 1980. It is currently 88 percent leased. Kevin Shannon of Newmark Grubb Knight Frank executed the deal.

March 22, 2016

California Office Western

JOSS Realty Partners Acquires Napa Square in Downtown Napa for $39.3M

by Nellie Day March 22, 2016

NAPA, CALIF. — JOSS Realty Partners has acquired Napa Square, a 65,848-square-foot mixed-use asset in downtown Napa, for $39.3 million. Originally built in 1957 and redeveloped in 2009, Napa Square is LEED Gold certified and features 41,010 square feet of office space and 24,848 square feet of ground-floor retail. Wells Fargo, Charles Schwab, U.S. Bank and UPS occupy the 92 percent leased center along with anchor tenants Oenotri, a southern Italian restaurant, and The Norman Rose Tavern, a neighborhood pub. Nicholas Bicardo, Scott Pertel, Danny Reddin and Brandon Rogoff of HFF represented the seller, CDI Companies, in the transaction. Jordan Angel of HFF secured a $22.3 million acquisition loan with J.P. Morgan Asset Management on behalf of JOSS.

March 22, 2016

California Retail Western

Progressive Real Estate Negotiates $5.8M Sale of Retail Center in Moreno Valley

by Nellie Day March 22, 2016

MORENO VALLEY, CALIF. — Progressive Real Estate Partners has arranged the sale of Plaza De Majorca, a shopping center located at 12220 Pigeon Pass Road in Moreno Valley. A Gardena, Calif.-based private investor acquired the asset from Continental Investment Group for $5.8 million. Circle K and Farmer Boys anchor the 38,872-square-foot retail center. Greg Bedell , Paul Su and Brad Umansky of Progressive Real Estate Partners represented the seller, while William Larson of Sonnocco Real Estate Group represented the buyer in the transaction.

March 22, 2016

California Retail Western

Voit Real Estate Services Negotiates $6M Sale of Retail Property in San Diego

by Nellie Day March 21, 2016

SAN DIEGO — Voit Real Estate Services has arranged the sale of an investment property located at 2576 Clairemont Drive in San Diego. Bella Lago LLC acquired the 25,461-square-foot property from Sunshine Finance Corp. for $6 million. A 7-Eleven and Washman USA currently occupy the asset. Kipp Gstettenbauer and Ryan King of Voit Real Estate Services represented the buyer in the transaction.

March 21, 2016

California Industrial Western

Camisasca Living Trust Buys Industrial Building in California for $3.7M

by Nellie Day March 21, 2016

LAKE FOREST, CALIF. — Camisasca Living Trust has purchased an 18,156-square-foot industrial building in Lake Forest for $3.7 million. The building is located at 20341 Hermana Circle. The trust plans to use the facility to manufacture and distribute car accessories. NGKF’s David L. Kluver represented the seller, Amkly Enterprises LLC, in this transaction.

March 21, 2016

California Retail Western

NGKF Completes $2.9M Sale of Retail Property in Lake Forest

by Nellie Day March 21, 2016

LAKE FOREST, CALIF. — Newmark Grubb Knight Frank has brokered the sale of two-tenant, triple-net leased retail property located at 29100 Portola Parkway in Lake Forest. Amkly Enterprises purchased the asset from Salok CA LLC for $2.9 million. Built in 2002, the Clineva Urgent Care and Patchs Coffee fully occupy the property. David Kluver of NGKF represented the buyer in the transaction.

March 21, 2016

California Retail Western

Shea Properties Brings Two New Restaurants to Alhambra Place

by Nellie Day March 21, 2016

ALHAMBRA, CALIF. — Shea Properties has signed two new restaurants to Alhambra Place in Alhambra. Slated to open in late summer, the two restaurants will be located on the corner of Main and Garfield. Big Catch Seafood House specializes in Cajun-style cooking, and Tokyo Table is a contemporary Japenese restaurant. Sprouts Farmers Market anchors the 140,000-square-foot Alhambra Place.

March 21, 2016

Newer Posts

Older Posts