Tuesday, April 21, 2026
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CaliforniaMixed-UseWestern

The Jensen’s Recreation Center in Echo Park Sells for $15M

by Nellie Day

LOS ANGELES – The Jensen’s Recreation Center, a 50,000-square-foot, mixed-use building in the Echo Park submarket of Los Angeles, has sold to Vista Investment Group LLC for $15 million. The center is located at 1706 Sunset Blvd. It includes 46 apartment units and 21,000 square feet of ground-floor retail and commercial space. The residential portion is fully leased, while the retail portion is 96 percent leased to tenants like Blue Bottle Coffee and Sage Vegan Bistro. Vista will invest up to $1.2 million in capital improvements to upgrade the building entry, lobby and other common areas. Darin Beebower of Madison Partners represented both the buyer and seller, Sunset Holding Co. LLC, in this off-market transaction. Andrew Kirsh of Sklar Kirsh LLP served as Vista’s attorney.

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CaliforniaIndustrialWestern

Vista Industrial Building Sells for $7.4M

by Nellie Day

SAN DIEGO – A 76,954-square-foot industrial building in the San Diego submarket of Vista has sold to PacVentures for $7.4 million. The building is located at 970 Park Center Drive in the Vista Business Park. It is fully leased to two unnamed tenants. Russ Jabara and Dave Pinnegar of Colliers International represented both the buyer and seller, FG&S LLC, in this transaction.

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CaliforniaRetailWestern

The Marketplace at Windingwalk in Chula Vista Nabs Four New Tenants

by Nellie Day

SAN DIEGO – The Marketplace at Windingwalk, a 104,206-square-foot retail center in the San Diego submarket of Chula Vista, has received four new tenants. The new residents include Denny’s, Sally Beauty, Millenia Dental and Massage Eden. The center is currently 92 percent occupied. Notable tenants include Wells Fargo, Bank of America, In-N-Out Burger and Oggi’s Pizza & Brewing Company. The newest tenants to open at the Marketplace at Windingwalk include El Michoacano, Moose’s Barbershop, Love Cupcake Café and Super Pollo. The property is owned by Shea Properties.

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CaliforniaOfficeWestern

Maxxam Enterprises Sells Three Western-Based Properties for $100M

by Nellie Day

BEVERLY HILLS, CALIF. — Maxxam Enterprises has sold three Western-based properties for about $100 million. Two of the assets were part of the firm’s Southern California portfolio, while the third is in Hawaii. The California dispositions include L’Opera Building, a 66,500-square-foot office building in Long Beach, and Arlington Plaza, a 126,000-square-foot neighborhood shopping center in Riverside. Maxxam also sold the Maui Lu resort on the island of Maui. L’Opera Building is known for its historic bell tower and clock. The building was constructed in 1906. It is located at 115 Pine Ave. in Long Beach’s Central Business District. It sold to a private investor for $10.4 million. Jeffrey Cole and Ed Hernandez of Cushman & Wakefield assisted with the sale. Arlington Plaza is anchored by Rite Aid, Cardenas Market, 99 Cents Only Store and Starbucks. It is located at 6008-6390 Van Buren Blvd. in Riverside. The plaza was 89 percent leased at the time of sale. It sold for $24.5 million. The unnamed sellers were represented by CBRE’s Alan Krueger. Maui Lu Resort is fully entitled to be redeveloped into a 388-unit, villa-style resort. It will eventually become a Hilton Grand Vacations Timeshare development, according to Maxxam. The property was …

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CaliforniaIndustrialWestern

Mission Oaks Corporate Center in Camarillo Sells for $54.5M

by Nellie Day

CAMARILLO, CALIF. — An unnamed buyer has purchased Mission Oaks Corporate Center, a 732,606-square-foot industrial campus in Camarillo, for $54.5 million. The two-building campus is located at 3001 and 3175 East Mission Oaks Blvd. The buildings are fully leased to Deckers Outdoor Corp & Addison Behavioral Resources. The campus includes a 309,500-square-foot industrial warehouse distribution building, as well as a 423,106-square-foot, Class A warehouse building. CBRE’s Darla Longo, Barbara Emmons, Rebecca Perlmutter Finkel, Michael Kendall, Paul Farry, Doug Shaw and Jim Meaney represented both the buyer and seller, a joint venture between Rexford Industrial and affiliates of Dune Real Estate Partners LP, in this transaction.

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CaliforniaMultifamilyWestern

Alliance Residential Buys Lasselle Place in Moreno Valley for $45M

by Nellie Day

MORENO VALLEY, CALIF. — Alliance Residential has acquired the 304-unit Lasselle Place apartment complex for $45 million. The garden-style community is located at 15700 Lasselle Street in the Rancho Belago submarket. Lasselle Place was built in 2005. It is situated near Meridian Business Park, World Logistic Center and March Air Force Base Redevelopment. Common-area amenities include a fitness center, business center, and community lounge that opens to a central pool and spa. The seller, a large, Los Angeles-based institutional investor, was represented by Dean Zander, Vince Norris, Margie Molloy and Spencer Scott of Berkadia. The team notes Alliance was one of the first developers to build Class A apartment communities in Moreno Valley during the past development cycle.

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CaliforniaMultifamilyWestern

University Heights Apartment Building in San Diego Sells for $3.6M

by Nellie Day

SAN DIEGO – A 16-unit apartment building in the San Diego submarket of University Heights has sold to San Diego Heritage Partners for $3.6 million. The community is located at 4638 and 4648 Ohio Street. The two-building property was originally built in 1982 as condominiums. Peter Scepanovic and Corey McHenry of Colliers International’s Multifamily Advisory Team represented both the buyer and seller, Ohio Street Villas Group, in this transaction.

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CaliforniaRetailWestern

Dr. Boyd’s Pet Resort Orange County to Open at Irvine Spectrum

by Nellie Day

IRVINE, CALIF. – Dr. Boyd’s Pet Resort Orange County, a 25,328-square-foot pet boarding and veterinary care center, will open later this month at the Irvine Spectrum. The 24-hour facility will be located at 8645 Research Drive in Irvine. This particular Irvine Spectrum property sits adjacent to the Irvine Company’s new Los Olivos Marketplace, which is anticipated to open in spring 2016. The pet resort was represented by Eric Warfield of South Bay CRE. The landlord, Three Crowns Properties LLC, was represented by Don Yahn, Brett Swartzbaugh and Brian Booth of Cushman & Wakefield.

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CaliforniaMarket ReportsMultifamilyWesternWestern Market Reports

San Francisco Faces Rent Control, ‘Housing Crisis’

by Nellie Day

Home to nearly 850,000 people and rapidly growing, the City of San Francisco is packed into a little less than 47 square miles. Having long been known as one of the primary financial, tech and cultural hubs of the United States, San Francisco is a place where many people want to be. Business is booming, companies are competing for employees, and the city is as culturally vibrant as ever. It seems like every week there is another article about San Francisco topping another a “best of” list. Supply, Demand, Rent Control Every city endures growing pains during times of economic expansion – new construction, rising rents and home prices – not to mention added stress to the local public infrastructure. The supply of housing in San Francisco remains relatively static for various reasons, with strict building and zoning regulations, a comparatively fixed supply of buildable land and the added complications surrounding the development of real estate in a densely populated, coastal city. On the flipside, demand for housing, which most consider a necessity, is highly inelastic. This is due to the average per-capita income for San Francisco residents, which is about 80 percent higher than the average per-capita of the …

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