LOS ANGELES – Human Services Agency of Ventura County has leased 57,200 square feet of office space at Younan Executive Center in the Los Angeles submarket of Simi Valley. The Class A space is located at 2900 Madera Road. The new lease will allow the county agency to consolidate some of its departments under one roof. The landlord, Younan Properties, was represented by Mark T. Leonard, Cory Richmond and Jared Smits of Lee & Associates-LA North/Ventura.
LOS ANGELES – Whalerock Industries has leased space at the RedBuilding in West Hollywood’s Pacific Design Center. The center is located at 8687 Melrose Ave. The independent media/technology company will be relocating from nearby Santa Monica. The company was represented by Gayle Landes and Mike Geller of First Property Realty Corp. The 400,000-square-foot RedBuilding is the newest addition to the Cesar Pelli designed Pacific Design Center. The center is owned and developed by Charles S. Cohen.
TUSTIN, CALIF. – Kettlebar restaurant has opened at Union Market Tustin. The Southern seafood offering will be located within the 22,000-square-foot artisanal center, which contains a mix of independent gourmet food, fashion and lifestyle micro-tenants. Union Market Tustin is situated within The District at Tustin Legacy, a regional shopping center. The District was developed by Vestar/Kimco and is operated by Vestar.
SANTA MONICA, CALIF. — Phase I of Water Garden Office Park, a two-building office complex in Santa Monica, has received a $260-million refinancing. The Class A complex is located at 1620 26th Street. The 12-year, fixed-rate loan was provided by New York Life Real Estate Investors. Stroock & Stroock & Lavan law firm represented the institutional investors, which were advised by J.P. Morgan Asset Management.
SAN FRANCISCO — The Bascom Group and funds managed by Carlyle Realty Partners have acquired the 220-unit Bridgecourt Apartments in the San Francisco Bay submarket of Emeryville for $45.1 million. The community is located at 1325 40th Street. Bridgecourt was built in 1998. It is situated near the headquarters of Pixar Animation Studios. The community also contains five ground-floor retail spaces. The transaction was executed by Stephen Jackson and Mark J. Feldman of Colliers International. Brian Eisendrath, Brandon Smith and Annie Rice of CBRE Capital Markets arranged the $40.6-million loan with California Bank & Trust.
SAN FRANCISCO – A two-story mixed-use property in a San Francisco Bay submarket has sold to an East Bay developer in a 1031 exchange for $9.5 million. The property is located at 329 Primrose Road in Burlingame. It is currently occupied by the U.S. Post Office and One Medical. The mixed-use asset’s interiors were fully renovated in 2012 and 2015. It is known around town as the Postcard Building. The buyer was represented by Eduardo Vergara of Marcus & Millichap. The seller was represented by Thomas Doglio and Richard Reisman of Marcus & Millichap’s National Land Group.
LOS ANGELES – A pair of multifamily properties in Los Angeles has sold to local investors for a total of $13 million. The acquisition includes the 44-unit Parc Regency Apartments in the Canoga Park submarket and the 23-unit VUE Apartments in Koreatown. The properties are located at 7500 Mason Ave. and 700 S. Berendo Street, respectively. The seller, Mason & Berendo Parc Regency Apartments Associates LLC, was represented by Darin Beebower of Madison Partners.
LOS ANGELES – A 19-unit apartment building in West Hollywood has sold to an unnamed buyer for $8.2 million. The community is located at 526 North Orlando Ave., just east of La Cienega Boulevard and south of Melrose Avenue. It was built in 1964 and renovated in 2012. The buyer was represented by represented by Michael Hanassab and Elliot Hassan of Marcus & Millichap. The seller was represented by Richard Ringer of the same firm.
CITY OF INDUSTRY, CALIF. – GELS Logistics has leased 250,000 square feet of industrial space in the City of Industry. The space is located at 20275 Business Parkway. The global logistics company will be relocating from its nearby facility in Baldwin Park. GELS was represented by Kevin Ching, Jeff Bethel and Henry Hong of Lee & Associates Industry. The landlord, Majestic, was represented by Terry Baker.
RIVERSIDE, CALIF. – A 7,508-square-foot building in Riverside that is triple-net leased to Citibank has sold to a local family trust for $4.8 million. The building is located at 3580 Tyler Street. It sits across the street from the Galleria at Tyler mall. The trust was represented by Shaun Riley of Faris Lee Investments. The seller, CP Sunshine, was represented by Equity Investment Advisors.
