California

Orinda Theatre Square in San Francisco Bay Area Changes Hands

by Nellie Day June 4, 2015

SAN FRANCISCO – Orinda Theatre Square, an eight-building, mixed-use property in the San Francisco Bay submarket of Orinda, has sold to an unnamed buyer for an undisclosed sum. The property is visible from Highway 24 and sits adjacent to the Orinda BART station. It was built in 1941 and expanded in 1986. Orinda Theatre features 47,610 square feet of office space and 42,927 square feet of retail space. The space is 98 percent leased to tenants like Starbucks, Serika Japanese Restaurant, Sweet Dreams Toy Store, Entourage Spa & Salon, Morgan Stanley Smith Barney, Wells Fargo Advisors and Chicago Title. The seller was represented by HFF’s Steven Golubchik, Nicholas Bicardo and Brandon Rogoff.

June 4, 2015

California Industrial Western

Gordon Brush Buys Industrial Facility in City of Industry

by Nellie Day June 4, 2015

CITY OF INDUSTRY, CALIF. – Gordon Brush Mfg. Co. has purchased a 182,853-square-foot industrial building in the Los Angeles submarket of the City of Industry for an undisclosed sum. The property is located at 3737 Capitol Ave. The industrial brush manufacturer plans to relocate to the building, which will allow it to consolidate its operations. The company will occupy 100,000 square feet and lease the remaining space. Gordon Brush was represented by Jeff Bethel and Jack Cline of Lee & Associates.

June 4, 2015

California Multifamily Western

San Diego Apartment Community Sells for $2M

by Nellie Day June 4, 2015

SAN DIEGO – An eight-bedroom apartment community in the San Diego submarket of Normal Heights has sold to Wang’s Growth LLC for $1.9 million. The community is located at 4640 Bancroft Street. The seller, Vaerus Utah LLC, upgraded the complex with all new interiors, including new kitchens, hardwood floors, bathrooms, heating, paint, lighting and appliances. The property also received new exterior paint, drought-tolerant landscaping, hardscape, exterior modern treatments, doors and new modern fencing. Vaerus was represented by Mark Morgan of ACI Apartments.

June 4, 2015

California Industrial Western

Magellan Breaks Ground on Industrial Park in Los Angeles

by Nellie Day June 3, 2015

LOS ANGELES – The Magellan Group has broken ground on a 501,270-square-foot industrial park in the Los Angeles submarket of El Monte. The $55 million Magellan Gateway will be located at 4127-4213 Temple City Blvd. Magellan purchased the 26.8-acre site one year ago. It was one of the largest infill industrial parcels left in Greater Los Angeles at the time, according to the firm. The company also notes Magellan Gateway is the first new large-scale industrial development in El Monte since 2008. The project will offer 14 units ranging in size from 10,905 square feet to 164,284 square feet. It is scheduled for completion during the fourth quarter of this year. Magellan Gateway will be designed by HPA Architecture. Robin Dodson, John Minervini, Erik Larson and Chris Tolles of Cushman & Wakefield will serve as the project’s leasing agents.

June 3, 2015

California Multifamily Western

Redwood City Apartment Building Sells for $13.1M

by Nellie Day June 3, 2015

REDWOOD CITY, CALIF. – A 48-unit apartment building in the San Francisco Peninsula submarket of Redwood City has sold to an unnamed buyer for $13.1 million. The community is located at 180 Buckingham Ave. It was built in 1964. Adam Levin and Robert Johnston of Marcus & Millichap’s Palo Alto office represented both the buyer and seller in this transaction.

June 3, 2015

California Industrial Western

Rudolph Foods Co. Buys Beaumont Logistics Center for $6.3M

by Nellie Day June 2, 2015

BEAUTMONT, CALIF. – Rudolph Foods Co. has purchased Beaumont Logistics Center, a 572,143-square-foot logistics center just east of Riverside, for $6.3 million. The two-building industrial warehouse center is located at 920 Fourth Street. It sits adjacent to Lowe’s Distribution Center. The pork rinds manufacturer and private snack supplier will be relocating its warehouse distribution operations to this facility from nearby San Bernardino. Rudolph Foods was represented by CBRE’s David Consani. The seller, CT Realty, was represented by Milo Lipson, Kyle Kehner, Ryan Velasquez and Tim Pimentel of Cushman and Wakefield.

June 2, 2015

California Industrial Western

Nordic Naturals Buys Industrial Corporate Headquarters Facility in Vista

by Nellie Day June 2, 2015

VISTA, CALIF. – Nordic Naturals has purchased a 39,672-square-foot industrial corporate headquarters property in Vista for $2.8 million. The property is located at 2390 Oak Ridge Way. The building is fully occupied by Select Supplements. Isaac Little and Marko Dragovic of Lee & Associates represented both the buyer and seller, SR Commercial, in this transaction.

June 2, 2015

California Multifamily Western

Jefferson Apartments on the San Francisco Peninsula Sells for $10M

by Nellie Day June 1, 2015

REDWOOD CITY, CALIF. – The 30-unit Jefferson Apartments in the San Francisco Peninsula submarket of Redwood City has sold to an unnamed buyer for $10 million. The community is located at 1331 Jefferson Ave. It was built in 1963. Adam Levin and Robert Johnston of Marcus & Millichap’s Palo Alto office represented both the buyer and seller in this transaction.

June 1, 2015

California Retail Western

Westfield MainPlace Adds 24 Hour Fitness, Round 1 Entertainment as Anchors

by Nellie Day June 1, 2015

SANTA ANA, CALIF. — Westfield MainPlace has added two new retailer to the its ongoing revitalization program. Round 1 Bowling & Amusement and 24 Hour Fitness Santa Ana Super Sport are slated to join the center as anchors and open this week, May 29 and 30, respectively. The 40,000-square-foot Round 1 Bowling & Amusement facility will feature bowling, billiards, arcade games and private karaoke rooms. The 50,000-square-foot 24 Hour Fitness Super Sport Club will feature cardio, strength and functional training equipment, Cycle and Group X classes, a rooftop basketball court, an outdoor pool and balcony, an indoor whirlpool, steam room and sauna, personal and group training services, Kids’ Club and towel service. Additionally, two new restaurants are scheduled to open at the center. Lucille’s Smokehouse Bar-B-Que will open in this summer and Wokcano is slated to open this fall.

June 1, 2015

California Retail Western

Jersey Mike’s Subs Signs Three Leases in Los Angeles

by Nellie Day June 1, 2015

LOS ANGELES – Jersey Mike’s Subs has signed three leases in the Los Angeles area. The fast-casual sandwich chain will open a 1,200-square-foot location at 801 Hope Street in Downtown Los Angeles; a 1,200-square-foot space at 1603 Wilshire Blvd. in MacArthur Park; and a 1,700-square-foot restaurant at 1197 E. Los Angeles Ave. in Simi Valley. The leases were executed by Michael Pakravan of Kennedy Wilson’s Brokerage Group. The firm has been hired to represent Jersey Mike’s Subs in its expansion efforts throughout Greater Los Angeles. The chain is specifically targeting Sherman Oaks, Studio City, Granada Hills, Los Feliz – Silver Lake, Echo Park, Burbank, Toluca Lake and Glendale.

June 1, 2015

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