SACRAMENTO, CALIF. – Riverpoint Marketplace in west Sacramento has sold to Excel Trust for an undisclosed sum. The power center is anchored by Ikea, Walmart Supercenter, Home Depot, Petco and Ross. John DuBois, Mark Denholm and Jon Gianulias of Core Commercial represented both the buyer and seller, Buzz Oates Group of Cos., in this transaction.
ESCONDIDO, CALIF. – An 18-unit apartment building in Escondido has sold to Vista International for $2 million. The community is located at 333 N. Juniper Street. It was built in 1962. The buyer was represented by Peter Scepanovic and Corey McHenry of Colliers International’s Multifamily Advisory Group. The seller, Ricardo Duron, was represented by Gary Weddle and Chris Zorbas of Marcus & Millichap.
LAKE FOREST, CALIF. — Bailard Inc. and CT Realty have acquired Palm Terrace, a 155,795-square-foot property office complex in Lake Forest, for $30 million. The three-building property is located at 25521, 25531 and 25541 Commercentre Drive. Palm Terrace is 90 percent leased. Notable tenants include Del Taco, Portfolioco, Anyone Home Inc. and Parsons. The property features a campus environment with an outdoor eating area and courtyard. CT Realty represented the joint venture in this transaction. The seller, LaSalle Investment Management, was represented by JLL’s Bob Prendergast and Baker Morphy. CT Realty will act as property manager. JLL’s Jay Nugent and Greg Puccinelli will retain the leasing assignment.
SAN JOSE, CALIF. — A 181,800-square-foot, Class B research and development industrial property in the Silicon Valley submarket of Milpitas has received a $26.2 million loan. The loan will refinance the property and fund its renovation. The credit facility contains a $12.4 million short-term loan, along with future funding of $13.8 million for capital expenditures, tenant improvements, leasing commissions and other expenses. The borrower is Stephens & Stephens LLC, the industrial real estate investment arm of D.R. Stephens & Company. The loan was provided by Calmwater Capital, formerly known as Karlin Real Estate Lending.
SAN DIEGO — CBRE has arranged the sale of Midway Village Shopping Center, a 29,718-square-foot retail center located at 3146 to 3194 Midway Drive in San Diego. Taco Bell and Wings N Things anchor the complex, with additional tenants including CharkBait Sportfishing, Fairouz Café & Gallery, Fast Signs and Kyoto Sushi. Reg Kobzi and Joel Wilson of CBRE represented the seller, Pacifica Woodside LP, and Kyle Clark of The Heritage Group represented the buyer, Sunset Waste Holdings LLC, in the transaction.
ESCONDIDO, CALIF. — CDC Commercial Inc. has arranged the sale of a 15,600-square-foot, single-story retail space located at 840 W. Mission Ave. in Escondido for $3.9 million. Tenant O’Reilly Auto Parts recently extended their lease for 12 years. The buyer, 6021 Business Center Court LLC, and the seller, LTB Properties LLC, were both represented by Don Zech, Matt Orth and Nick Zeck of CDC Commercial.
SAN DIEGO — The Quad, a privately owned, mixed-use student housing structure designed by Safdie Rabines Architects and located in San Diego’s 204-acre North City master plan, has been completed. Located directly across the street from California State University San Marcos Campus (CSUSM), The Quad is a five-story, 230,600-square-foot building designed to achieve LEED Gold certification. It includes 591 dorm rooms housing 889 student beds, 12,000 square feet of academic, student life and event spaces, and 20,000 square feet of retail/commercial space. The ground floor retail is oriented along North City’s main entrance road and features cafes, restaurants and outdoor dining. A parking arrangement allows all parking spaces to be located on the campus, encouraging students to walk or bike across the road to the campus. The Quad is comprised of six separate buildings organized around a series of outdoor spaces including a large central courtyard. Exterior bridges and stair towers link the buildings. The courtyard includes a pool and barbecue area, with student classrooms and lounges along the perimeter activating the central quad. The units are designed with central bathroom and kitchen cores, stacking the utilities to maximize efficiency within buildings.
GARDENA, CALIF. – Isarena has purchased a 4,6770-square-foot industrial building in Gardena for $4.8 million. The building is located at 246 W. 146th Street. Isarena was represented by Gary Blan of Commercial Property Group. The seller, Robert R. Barboor Trust, was represented by Craig Poropat and Bret Osterberg of Lee & Associates Los Angeles – Long Beach.
LOS ANGELES — An undisclosed fund advised by CBRE Global Investors has acquired Gateway at Burbank, a 74,391-square-foot, two-building grocery anchored shopping center located along Interstate Five Golden State Freeway in Burbank. One building is a freestanding grocery store, and the other is a multi-tenant retail building anchored by a drugstore. The property is fully leased to seven tenants.
SAN DIEGO — CBRE has arranged the sale of Midway Village Shopping Center, a 29,718-square-foot retail center located at 3146 to 3194 Midway Drive in San Diego. Taco Bell and Wings N Things anchor the complex, with additional tenants including CharkBait Sportfishing, Fairouz Café & Gallery, Fast Signs and Kyoto Sushi. Reg Kobzi and Joel Wilson of CBRE represented the seller, Pacifica Woodside LP, and Kyle Clark of The Heritage Group represented the buyer, Sunset Waste Holdings LLC, in the transaction.