LOS ANGELES — Majestic Realty Co. has selected Strategy+Style Marketing Group and FFO Realty to lead marketing and leasing efforts for Los Angeles Outlets, a ground-up outlet center in City of Industry area of Los Angeles. The project includes a 353,000-square-foot Phase One and a 58,000-square-foot expansion.
MENIFEE, CALIF. — Cushman & Wakefield has brokered the sale of Sun City Plaza, a retail center located at 26100 Newport Road in Menifee, a southwestern suburb of Los Angeles, for $10.2 million. The seller, a developer, recently repositioned the former Alberston’s into a multi-tenant property. New tenants include 99 Cents Only, Fitness 19 and True Value. Dixie Walker, Charley Simpson, Tom Blake and Andrew Milne of Cushman & Wakefield brokered the transaction. The name of the buyer was not released.
LAGUNA HILLS, CALIF. — Grandbridge Real Estate Capital has closed a $14 million loan for a 79,760-square-foot retail property in Laguna Hills. Funded by BB&T Real Estate, the permanent, fixed-rate, non-recourse loan features a seven-year term with a 30-year amortization schedule and a 3.67 percent interest rate. Tom Kenny, Rowin Jacobs, Josh Boehling, Steve Griffin, Thomas Turnage and Mark Durfee of Grandbridge’s Newport Beach, Calif., office secured the financing for the undisclosed borrower.
SAN DIEGO — General Atomics Aeronautical Systems has signed a four-year lease for a 112,000-square-foot industrial property in the San Diego submarket of Poway. The building is located at 13550 Stowe Drive. The lease is valued at more than $4.2 million. General Atomics represented itself in the transaction. Ted Cuthbert of Colliers International and Bob Willingham, James Duncan and Mickey Morera of Kidder Mathews represented the landlord, CT Realty.
TUSTIN, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of a retail building located at 14191 Newport Ave. in Tustin, a southeastern suburb of Los Angeles. The 2,900-square-foot property sold for $1.2 million, representing a capitalization rate of 4.17 percent. The two-tenant building is situated on one-third of an acre near the intersection of McFadden and Newport avenues. Eric Vu and Jeff Hauber of Hanley Investment Group represented the seller, a private investor based in Southern California. The name of the buyer was not released.
BEVERLY HILLS, CALIF. — Quantum Capital Partners has arranged $10.5 million in long-term, fixed-rate financing to recapitalize a retail building located in Beverly Hills’ Golden Triangle. Located at 9650 Bedford Drive, the property offers 15,000 square feet of restaurant and retail space. The building is fully leased to Crustacean Restaurant (House of An) and Maxferd Jewelry of Beverly Hills. Jonathan Hakakha and Mike Yim of Quantum Capital arranged the financing. The 10-year CMBS loan closed at a 4.32 percent interest rate and was structured to include five years of interest-only payments.
CLAREMONT, CALIF. — Avison Young has brokered the sale of a seven-acre site located at 620 Auto Center Drive in Claremont. Brandywine Homes sold the property to New Orleans, La.-based Premier Automotive Group for an undisclosed price. The buyer plans to develop a Chrysler, Dodge, Jeep and Ram auto dealership on the site. Situated within the Claremont Auto Center, the site has been vacant for more than decade. Jodi Meade of Avison Young represented the seller and the buyer in the transaction.
SAN DIEGO — Clarion Partners has purchased Pacific Technology Park, a 544,352-square-foot office park in San Diego, for a reported $90 million. The park is located at 9389-9477 Waples Street in the Sorrento Mesa submarket. Pacific Technology Park was 80 percent leased at the time of sale. Notable tenants include Thermo Fisher, Qualcomm, Novartis, DirectMed, True Temper, Raytheon, Cintas and Tritech. Clarion represented itself, while Jeffrey Cole, Jeff Chiate and Ed Hernandez of Cushman & Wakefield represented the seller, CBRE Global Investors.
BUENA PARK, CALIF. — Golden Capital Venture has purchased the 200-room Radisson Suites Buena Park for an undisclosed sum. The hotel is located at 7762 Beach Blvd. in the Orange County submarket of Buena Park. It is situated within the Buena Park Entertainment Zone. The buyer plans to make improvements to the hotel and rebrand it as Radisson Suites Anaheim-Buena Park. Golden Capital Venture is a subsidiary of INVOBAL Corporation. Daniel Shaunt of Reeco represented the company. CBRE’s Bob Kaplan and Rod Apodaca represented the seller, Khanna Enterprises Ltd.
ANAHEIM, CALIF. — Bellwether Enterprise Real Estate Capital LLC has arranged $98.8 million in financing for the acquisition of three apartment communities in Orange County by A&M Properties. The properties include Springdale Villa in Westminster, Portofino Cove in Anaheim and Tustin Parc in Tustin. The properties contain a total of 723 units. They were built between 1961 and 1971. Doug Taylor and Jason Krupoff of Bellwether arranged the Freddie Mac, fixed-rate financing. Bellwether is the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment Inc. The team also helped A&M Properties identify Tustin Parc for acquisition.
