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.
SAN DIEGO — CityMark Development has received a $48 million loan to develop a 129-unit multifamily project in the downtown San Diego submarket of Little Italy. The community will be located at 2101–2175 Kettner Blvd. The site was formerly occupied by Caliber Collision Center. The new project will contain a six-story apartment building with 8,000 square feet of retail podium space, 100,000 square feet of residential space and 2.5 levels of subterranean parking. Tanner Hecht Architecture will design the community, while Van Tilburg, Banvard & Soderbergh will act as the architect of record. The funds were capitalized by Fident Capital, which has identified an institutional equity partner for this project. The Los Angeles-based fund manages more than $2 billion in assets. It focuses exclusively on urban infill residential projects that contain over 100 units.
ENCINO, CALIF. — Encino-based supermarket chain Gelson’s Markets has won final approval to buy six Haggen grocery/pharmacy properties in Southern California. Acquisitions will include 2627 Lincoln Blvd., Santa Monica; 25636 Crown Valley Parkway, Ladera Ranch; 36-101 Bob Hope Drive, Rancho Mirage; 2707 Via De La Valle, Del Mar; 730 Turquoise St., San Diego; and 1736 Avenida De Los Arboles, Thousand Oaks. Haggen filed for Chapter 11 bankruptcy this past September. Gelson’s plans to relaunch the acquisitions early next year under its own brand with initial improvements to product selection and merchandising, followed several months later by redesign and construction. Existing pharmacies will remain open during the transition.
LADERA RANCH, CALIF. — Gary Bechtel has been appointed as the new president of Money360. Bechtel will be responsible for expanding Money360’s lending programs, increasing loan production and guiding the company in its growth efforts. Prior to joining the firm, Bechtel served as the chief lending/originations officer at CU Business Partners. He has also held executive positions at Johnson Capital Group, Hometown Commercial Capital and Meridian Capital Group. The commercial real estate marketplace lending platform is headquartered in the South Orange County submarket of Ladera Ranch.