California

Phillips Edison Grocery Center REIT II Buys North Point Landing in Modesto

by Nellie Day February 20, 2015

MODESTO, CALIF. — Phillips Edison Grocery Center REIT II has purchased North Point Landing, a 152,769-square-foot shopping center in Modesto, for an undisclosed sum. The center is located at 3848 McHenry Ave. North Point is anchored by Walmart Supercenter. Other notable tenants include GNC, T-Mobile, the UPS Store, Allstate and Round Table Pizza. Phillips Edison Grocery Center REIT II is a public, non-traded REIT that seeks to acquire and manage well-occupied, grocery-anchored neighborhood shopping centers having a mix of national and regional retailers selling necessity-based goods and services. It looks for properties in strong demographic markets throughout the U.S. It currently owns and manages an institutional-quality retail portfolio with 22 grocery-anchored shopping centers totaling 2.5 million square feet.

February 20, 2015

California Industrial Western

JC Paper Extends Lease for Warehouse Space in Fremont

by Nellie Day February 19, 2015

FREMONT, CALIF. – JC Paper has signed a 10-year lease extension for 214,809 square feet of warehouse space in Fremont. The space is located at 47422 Kato Road. The Kato Road complex was built in 1997. JC Paper was represented in-house by Mark Clarke. The landlord, Westcore Properties, was represented by its own Meghan Sandlin.

February 19, 2015

California Office Western

Santa Ana Office Building Sells for $12.7M

by Nellie Day February 19, 2015

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.

February 19, 2015

California Industrial Western

Lincoln Property Company Buys Carlsbad Office Park

by Nellie Day February 19, 2015

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.

February 19, 2015

California Retail Western

Ramon Plaza in Los Angeles Sells for $9.1M

by Nellie Day February 18, 2015

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.

February 18, 2015

California Office Western

Meridian Provides $35M in Financing for San Francisco Office, Retail Property

by Nellie Day February 18, 2015

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.

February 18, 2015

California Industrial Western

Pinnacle Exhibits Leases 92,802 SF of Industrial Space in Irvine

by Nellie Day February 18, 2015

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.

February 18, 2015

California Industrial Western

Westcore Buys Industrial Facility at March Air Reserve Base Near Riverside

by Nellie Day February 17, 2015

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.

February 17, 2015

California Office Western

Katella Property Owner Buys Los Alamitos Office Building

by Nellie Day February 17, 2015

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.

February 17, 2015

California Multifamily Retail

San Francisco Apartment Building Sells for $3.6M

by Nellie Day February 17, 2015

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.

February 17, 2015

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