California

HFF Arranges $42.7M Refinancing for Samaritan Medical Tower in Los Angeles

by Nellie Day October 27, 2015

LOS ANGELES — HFF has arranged a $42.7 million loan for Boulevard Investment Group to refinance Samaritan Medical Tower, a 146,354-square-foot medical office building in Downtown Los Angeles. The tower is located at 1127 Wilshire Blvd. The building is situated directly across the street from Good Samaritan Hospital, a 408-bed academic medical center affiliated with both USC’s and UCLA’s schools of medicine. Samaritan Medical Tower was originally built in 1964. It was extensively renovated in 2000 and 2014. The 10-year, fixed-rate CMBS loan features interest-only payments throughout the entire term. HFF’s Marc Schillinger worked on behalf of the borrower.

October 27, 2015

California Office Western

Montana Avenue Capital Buys El Segundo Office Building for $33.5M

by Nellie Day October 26, 2015

EL SEGUNDO, CALIF. — Montana Avenue Capital has purchased a 119,484-square-foot office building in El Segundo for $33.5 million. The building is located at 1700 Walnut Ave. It is currently 99 percent leased to tenants like Fuhu and iSupply. CBRE’s Kevin Shannon, Ken White and Mike Moore represented the seller, USAA Real Estate.

October 26, 2015

California Industrial Western

Totex Manufacturing Buys Industrial Facility in Torrance for $9.8M

by Nellie Day October 26, 2015

TORRANCE, CALIF. — Totex Manufacturing has purchased a 71,496-square-foot industrial facility in Torrance for $9.8 million. The space is located at 3040-3050 Lomita Blvd. The battery pack and charger manufacturer plans to occupy the space by January 2016. It was formerly occupied by General Motors. Todd Taugner, Frank Schulz, David Prior and Patricia Wisman of the Klabin Company represented Totex. Colliers International represented the seller, Lomita Partners.

October 26, 2015

California Office Western

Securitas Security Services USA Renews Lease at Westlake Spectrum in Los Angeles

by Nellie Day October 26, 2015

LOS ANGELES — Securitas Security Services USA has renewed its lease for 72,610 square feet at Westlake Spectrum in the Los Angeles submarket of Westlake Village. The new 12-year lease is valued at more than $25 million. CBRE’s Michael Slater and Tom Dwyer represented the landlords, Barker Pacific Group and Rockwood Capital. Richard Bright and Ryan Bright of the same firm represented Securitas.

October 26, 2015

California Colorado Retail Western

Vitality Bowls to Open Three New Locations

by Nellie Day October 26, 2015

SAN RAMON, CALIF. — San Ramon-based Vitality Bowls, a superfood café, is set to open three new locations in Colorado and California. New restaurants include a 1,400-square-foot location at Cherry Creek Shopping Center in Denver, Colo.; a 1,100-square-foot location at 19700 Vallco Parkway in Cupertino, Calif.; and a 796-square-foot location at 20668 Rustic Dr. in Castro Valley, Calif. These openings come as part of a plan to open 100 locations by the end of 2016.

October 26, 2015

California Industrial Western

Tamrac Headquarters in Chatsworth Changes Hands

by Nellie Day October 23, 2015

CHATSWORTH, CALIF. — Dan Selleck of Selleck Development Group has acquired a 55,000-square-foot building in Chatsworth that served as the Tamrac company’s headquarters building and primary manufacturing facility. It was listed at $6.5 million. The space is located at 9420 Jordan Ave. It contains 27,000 square feet of R&D space and a two-story office totaling 28,000 square feet. Tamrac is a camera case manufacturer. Bart Pucci and Scott Katcher of Savills Studley’s downtown Los Angeles office represented the sellers.

October 23, 2015

California Retail Western

Chase Bank Building in Lake Elsinore Sells for $4.4M

by Nellie Day October 23, 2015

LAKE ELSINORE, CALIF. — Progressive Real Estate Partners has arranged the sale of a Chase Bank located at 31575 Canyon Estates Drive in Lake Elsinore. It sold for $4.4 million, at a capitalization rate of 4.29 percent. Frank Vora of Progressive Real Estate Partners represented the seller, while CBRE’s Don LeBuhn the buyer, a San Francisco-based private investor.

October 23, 2015

California Healthcare Western

Construction Commences on New $90M Tehachapi Critical Care Replacement Hospital

by Nellie Day October 22, 2015

BAKERSFIELD, CALIF. — Construction has commenced on a new 25-bed Tehachapi Critical Care Replacement Hospital 35 miles southeast of Bakersfield. The $90 million project is a joint venture between Bernards and Colombo Construction. The 77,889-square-foot critical access facility will offer acute care and outpatient services. It will be the only healthcare facility in Tehachapi, a rural area of Kern County. The hospital will include 16 medical/surgical beds, four intensive care beds and a five-bed obstetrical (labor and delivery/postpartum) unit. It will also contain an emergency room, anesthesia services, a radiology/imaging center, a clinical laboratory, dietetic services space, a pharmacy and nearly 16,000 square feet for administrative offices. The property will also include facility support functions like a central plant, general storage area and laundry area. Tehachapi Critical Care Replacement Hospital is scheduled for completion in 2016. SWA Architects is designing the project.

October 22, 2015

California Multifamily Western

Adagio on the Green Debuts in Mission Viejo

by Nellie Day October 22, 2015

MISSION VIEJO, CALIF. — Wermers Properties has debuted the 256-unit Adagio on the Green luxury apartment complex in Mission Viejo. The community is located at 26600 Oso Parkway. Adagio sits adjacent to the Mission Viejo Country Club.

October 22, 2015

California Retail Western

Simon to Complete Redevelopment of Stanford Shopping Center and Add 14 Tenants

by Nellie Day October 21, 2015

PALO ALTO, CALIF. — Shopping mall developer Simon Property Group is set to complete its redevelopment of Stanford Shopping Center, a mall located in Palo Alto, and add 14 new tenants to open in spring 2016. The Plaza, Simon’s reimagined public space, includes gardens, lawn space, a water feature with infinity edges and a new outdoor venue for special events. The reimagined public space, nearing completion in November, will also include suspended wooden trellis with decorative lighting and an open-air, granite-clad fireplace. New retailers set to open at the center will include Anthropologie, Allen-Edmonds Shoe, LUSH Fresh Handmade Cosmetics, Luisa Spagnoli, AllSaints, lululemon, Everything But Water, The North Face, Uno de 50, Vineyard Vines, Pink Posy, True Food Kitchen, Tender Greens, and Minamoto Kitchoan. Stanford Shopping Center expects a total of 25 new stores to open during late spring 2016.

October 21, 2015

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