LOS ANGELES — Federal Public Defenders Office has signed a 10-year lease for 50,130 square feet of office space in the Little Tokyo Historic District of downtown Los Angeles. The space is located at 321 E. 2nd St. The property was built in 1963. GSA represented the tenant. John Anthony, Chris Steck and Chris Giordano of Charles Dunn Co. represented the landlord, 321 E. Little Tokyo Master LLC.
ANTIOCH, CALIF. — The Covington Group has purchased a 650,000-square-foot industrial facility in Antioch, located in San Francisco’s East Bay region. The two-building property is currently 85 percent leased. The Antioch submarket is known for its logistics groups, warehouse users and light manufacturing companies. This is due to its lower facility costs, a reliable supply of labor and a lower cost of living as compared to San Francisco and Oakland. Covington was attracted to the asset because it allowed the firm to purchase a near-stabilized asset at a discount to replacement cost.
LOS ANGELES — ASB Real Estate Investments and Blatteis & Schnur have broken ground on At Mateo, an $80 million mixed-use project in downtown Los Angeles. The project will be located at the corner of Palmetto and Mateo streets in the Arts District. At Mateo will include nearly 125,000 square feet of open-air retail and 50,000 square feet of creative office space that will be situated in four buildings on a former 3.5-acre industrial site. It will be designed with re-purposed materials, including bricks, cobblestones and laminated beams, as a homage to the Arts District. The project will eventually include 30 to 35 chef-driven restaurants, eateries, boutiques and retail stores. At Mateo is scheduled for completion in the fourth quarter of 2016. Architect Keith Ray master planned the development.
SAN MARCOS, CALIF. — NorthMarq Capital has arranged the $42 million refinancing of Nordahl Marketplace, a 304,801-square-foot retail property located in San Marcos. Ory Schwartz of NorthMarq arranged the fully amortizing, 25-year term loan for the borrower through a life insurance company. The center is home to 25 tenants including Walmart, Kohl’s, Guitar Center and Starbucks Coffee.
LOS ANGELES — Avison Young has completed three retail leases within Level DTLA, a 303-unit corporate housing tower in the Financial District of downtown Los Angeles. Leases include a 4,177-square-foot SoulCycle, a 2,601-square-foot Sakana Sushi and a 1,416-square-foot Cognoscenti Coffee. Derrick Moore and Amit Parekh of Avison Young represented the landlord, Canada-based Onni Group, as well as Cognoscenti Coffee and Sakana Sushi in the transactions. CBRE represented SoulCycle.
AUBURN, CALIF. — Envoy Net Lease Partners LLC has financed a first mortgage bridge loan for a 5,500-square-foot, single-tenant net lease Denny’s restaurant in Auburn, approximately 30 miles northeast of Sacramento. The property, which is currently vacant, is located on an outparcel in front of the highest-grossing grocery store in Auburn, and is one of the last remaining outparcels in the market.
ROLLING HILLS ESTATES, CALIF. — UCLA Health has signed a long-term lease for 18,512 square feet at an office building in Rolling Hills Estates on the Palos Verdes Peninsula. The 10-year lease is valued at $5.2 million. This lease brings the Class A office building to full occupancy. It is located at 501 Deep Valley Drive. Eric Lastition and Geoff Ludwig of Colliers International represented the landlord, West Coast Capital Partners.
SANTA MONICA, CALIF. — Zian has purchased a six-unit apartment building in Santa Monica for $2.2 million. The community is located at 1830 12th Street. It was built in 1959. The property is situated near Santa Monica College, Main Street Shops, the Santa Monica Pier and the new Light Rail Metro line. Kimberly Roberts Stepp of Stepp Commercial represented the seller, 2820 3rd Street LLC.
NEWPORT BEACH, CALIF. — Bank of America has leased 88,000 square feet of office space in Newport Beach. The space is located at 520 Newport Center Drive. It is directly across from Fashion Island. Merrill Lynch, Private Banking and Investments, Commercial and Business Banking, will occupy the space. The landlord is Irvine Company Office Properties.
LOS ANGELES — Abrams Artists Agency has leased 15,650 square feet at the Pacific Design Center’s RedBuilding in Los Angeles. The center is located at 8687 Melrose Ave. Abrams is a talent and literary agency. It represents up-and-coming acting talent, as well as established celebrities in film, television and theater. Robert Cavaiola of Savills Studley represented the firm. The landlord, Cohen Brothers Realty, was represented in-house by Marc Horowitz, as well as by JLL’s Josh Wroble.
