OXNARD, CALIF. – The 18-unit Oxnard Art Lofts has sold to 2201 Statham LLC for $2.9 million. The live-work complex is located at 2201 Statham Blvd. The project was 90 percent vacant at the time of sale. The project was an adaptive reuse of an old industrial building. The 25,610-square-foot complex contains units ranging from 978 square feet to 1,615 square feet.
ANAHEIM, CALIF. – Power Edge Solutions has purchased a 12,000-square-foot industrial building in Anaheim for $2.1 million. The building is located at 1910 East Via Burton. This is the highest price paid per square foot within this building size range since 2008, according to CBRE, which represented the seller, the Huber Family Trust. The trust was represented by the firm’s Steve Young and Tom Dorman. Gibson Company also provided advisory services to the trust.
OXNARD, CALIF. — Champion Real Estate has acquired the Vines, a 164-unit apartment community in Oxnard, for $55.5 million. The community is located at 3040 N. Oxnard Blvd., within the master-planned community of RiverPark. The acquisition represents a per-unit price of $338,628. This is the highest per-unit price paid in Ventura County for a multifamily community with 100 or more units over the past 10 years, according to Berkadia, which executed the transaction. The Vines was built in two phases in 2013 and 2014. It offers two- and three-bedroom units. The property features seven different parks with playgrounds, basketball and tennis courts, picnic areas with barbecues and water fountains. The community was 95 percent leased at the time of sale. Notable employers in the area include St. John’s Regional Medical Center, Boskovich Farms Inc., Ventura Superior Municipal Court and Walmart Supercenter. Champion Real Estate is led by Bob and Parker Champion. The sellers, Corona Riverpark Promenade LLC and Corona Riverpark Luminaria LLC, were represented by Tony Koeijmans of RSF Partners. The transaction was negotiated by Adrienne Barr of Berkadia.
LOS ANGELES — JH Real Estate Partners has purchased Hawaiian Gardens Town Center, a 124,645-square-foot retail center in the Los Angeles submarket of Hawaiian Gardens, for $33 million. The center is located at 12090-12144 Carson Street. Hawaiian Gardens Town Center is situated off the 605 freeway, within walking distance of the city’s largest employer, the Hawaiian Gardens Casino. The center is 95 percent occupied. It is anchored by Walmart Neighborhood Market. Other notable tenants include O’Reilly Auto Parts, Sally Beauty Supply, MetroPCS, Hertz Rent-a-Car and Rent-a-Center. The seller, an affiliate of HP Investors LLC, was represented by HFF’s CJ Osbrink, Ryan Gallagher and Bryan Ley.
SAN DIEGO – A 76,495-square-foot industrial/flex building in the San Diego submarket of Escondido has sold to SR Commercial for $8.3 million. The building is located at 298-304 Enterprise Street within the Escondido Business Park. The space, known as Enterprise Heights Industrial Centre, is fully leased. Tucker Hohenstein, Mike Erwin and Conor Boyle of Colliers International represented both the buyer and seller, Enterprise Heights Industrial Centre Associates, in this transaction.
LOS ANGELES – Planet Fitness has leased a 21,257-square-foot retail location in Downtown Los Angeles. The space is located at 1000 E. Washington Blvd. It was previously occupied by Casa Linda Furniture. The space will undergo significant renovations. Planet Fitness is scheduled to occupy the space this October. Other tenants at the property include Auto Zone, Boost Cellular and Subway. The 10-year lease is valued at $5.7 million. Planet Fitness was represented by SRS Real Estate Partners. The landlord, Miracle Mile Properties, was represented by George Russell of Charles Dunn Company.
LOS ANGELES – Getty Images has renewed its lease for 22,557 square feet of office space in Los Angeles. The space is located at 6300 Wilshire Blvd. The still imagery, footage and music provider has leased this Class A space since 2005. Getty was represented by Josh Gorin of Savills Studley. The landlord, Legacy Partners, was represented by CBRE’s Joel Frank.
LOS ANGELES — Sunrider International has acquired the 297-room SLS Beverly Hills for about $200 million. The hotel is located at 465 S. La Cienega Blvd. The hotel was sold by Sam Nazarian’s SBE, a locally based hospitality company that develops, manages, and operates hotels, restaurants and nightlife venues. SLS Beverly Hills opened in November 2008 as part of the Luxury Collection Hotels & Resorts brand. It was designed by Philippe Starck, and offers a variety of culinary experiences crafted by James Beard award-winning chef Jose Andres. The property has been an AAA Four Diamond Award recipient since 2009. It is managed by Starwood Hotels & Resorts Worldwide. SBE currently has 11 new projects in various stages of development, construction and negotiation, including the recent announcement of five new hotels in Mexico. The new projects include a total of 1,893 hotel rooms and 2,230 residences throughout the world. SBE will remain onboard as the flagship property’s brand operator. The hotel’s ownership group included SBE, the Nazarian family and subsidiaries of SLS Hotels. Sunrider International is a family owned health and beauty company.
TORRANCE, CALIF. — Stream Realty Acquisition has purchased Pacific Center, a 291,711-square-foot office building in Torrance, for $68.5 million. The eight-story building is located at 21250 Hawthorne Blvd. Pacific Center is currently 80 percent leased. Notable tenants include All Nippon Airways, Living Social, Morgan Stanley, Bank of America and Wells Fargo Insurance. The seller, Bixby Land Company, purchased the asset in July 2012 for $52 million. At that time, the building – formerly known as South Bay Tower – was only 63 percent occupied. The building underwent significant renovations and a rebranding. Stream Realty represented itself in this transaction, while Bixby was represented by CBRE’s Kevin Shannon.
LOS ANGELES — Juanita Tate Marketplace, a 77,000-square-foot shopping center in Los Angeles, has received a $22 million refinance. The center is located at the intersection of East Slauson and South Central avenues in the city’s South Central neighborhood. Juanita Tate is anchored by CVS and Northgate González Markets. It was recently purchased by the borrowers, Optimus Properties and Infinity Redevelopment, who plan to make minor upgrades and modifications to the newly built property. The 10-year, fixed-rate loan features a 4.1 percent interest rate with two years of interest-only and a 30-year amortization schedule. It was arranged by Shahin Yazdi of George Smith Partners. The center was originally developed in partnership with the City of Los Angeles and the non-profit organization Concerned Citizens of South Los Angeles (CCSCLA) to bring retail options and jobs to the region. The property’s construction loan was a city-funded Section 108 loan. This kind of loan is provided by cities for projects that will help revitalize neighborhoods through new low-income housing or job creation. The deal was made a little easier by the fact that the center’s purchase price “far exceeded” its valuation, according to Yazdi. He notes the property value was estimated in the …