SANTA ANA, CALIF. – A 152,705-square-foot office building in Santa Ana has sold to Small Giant for $12.7 million. The nine-story building is located at 1200 North Main. It was 55 percent leased at closing. The property was built in 1971 and renovated in 1997. The seller, Positive Investments, was represented by Dan Vittone and Alan Pekarcik of Avison Young.
CARLSBAD, CALIF. – Lincoln Property Company has purchased a 68,392-square-foot R&D/office park in Carlsbad for $11.9 million. The park is located at 5993 and 5999 Avenida Encinas. It was 80 percent occupied at the time of purchase. This is Lincoln’s fourth purchase in North County over the past year. Rick Reeder and Aric Stark of DTZ represented both the buyer and unnamed seller in this transaction.
LOS ANGELES – Ramon Plaza, a 70,131-square foot retail property in the Los Angeles submarket of Cathedral City, has sold to an unnamed buyer for $9.1 million. The three-building property is located at 68100 Ramon Road. It contains a mix of medical, retail and office uses. The seller, a private investor, was represented by Pablo Rodriguez and Richard Vincent of Marcus & Millichap’s Ontario office.
SAN FRANCISCO — Meridian Capital Group has provided $35 million in acquisition financing for an office and retail property in San Francisco. The 46,000-square-foot property is located at 166 Geary Street in the city’s Union Square area. The loan was provided to The Jackson Group, Sun Equity Partners and Concord Real Estate. The 36-month, floating-rate mortgage was structured to accommodate the sponsors’ unique business plan. The borrowers plan to separate the asset into two commercial condos post-closing by pre-allocating $25 million to one portion of the asset and $10 million to the remainder. Financing was provided by a national balance sheet lender. It features full-term, interest-only payments. The loan was arranged by Shaya Ackerman and Moshe Majeski of Meridian Capital Group.
IRVINE, CALIF. – Pinnacle Exhibits LLC has leased 92,802 square feet of industrial space in Irvine. The space is located at 9 Holland, within the Irvine Spectrum. The 180,982-square-foot industrial building is now fully leased. The designer, builder and manager of 3-D brand environments was represented by Ryan Harman of Lee and Associates’ Irvine office. The landlord, CT Holland Industrial LLC, was represented by CBRE’s Gregg Haly, Jeff Carr and Dave Desper.
RIVERSIDE, CALIF. – Westcore Properties has acquired a 260,000-square-foot ground and air industrial facility at March Air Reserve Base near Riverside for an undisclosed sum. The facility is located at 17101 Heacock Street. The property is currently occupied by AMRO Fabricating Corporation and Ross Dress for Less. HFF’s Anthony Brent, Ryan Martin and Jeremy Womack represented both the buyer and seller, a joint venture between Marhub, LLC and Global Port Ramp Services, in this transaction.
LOS ALAMITOS, CALIF. – Katella Property Owner has purchased a 149,326-square-foot office building in Los Alamitos for an undisclosed sum. The building is located at 3131 Katella Ave. Katella Property Owner was represented by Shaun R. McCullough of Lee & Associates–Long Beach. The seller, Supermedia Services, was represented by Case Commercial. McCullough and Jeff Coburn will serve as the new owner’s exclusive leasing agents.
SAN FRANCISCO – A 12-unit apartment building in San Francisco has sold to a limited liability company for $3.6 million. The community is located at 312 Baker Street. It was built in 1905. The buyer and seller, private investors, were represented by Clinton Textor and Marques Fields of Marcus & Millichap’s San Francisco office.
LOS ANGELES – A 37,962-square-foot office building in Los Angeles has sold to a medical group. The price was not disclosed. The nine-story building is located at 8436 West 3rd Street. It is situated a half-block east of La Cienega. The medical group intends to occupy a portion of the property. The seller, CIM Group, was represented by Lynwood Fields and Bob Safai of Madison Partners.
NEWARK, CALIF. – HealthyPets has purchased a 70,000-square-foot e-commerce facility in Newark for more than $10 million. The facility is located at 7000 Gateway Blvd. The property will serve as the pet industry wholesaler’s corporate headquarters and as its third warehouse. It will be situated near Google and Facebook, adjacent to the former Sun Micro Campus. HealthyPets was represented by Dan Bergen of Colliers International and Bob Ferraro of CBRE.
