Tuesday, November 11, 2025
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Sycamore-Hills-Distribution-Riverside-CA
CaliforniaDevelopmentIndustrialWestern

Rockefeller Group Starts Construction of 603,100 SF Sycamore Hills Distribution Center in Riverside, California

by Amy Works

RIVERSIDE, CALIF. — Rockefeller Group has begun construction of Sycamore Hills Distribution Center situated on 34.6 acres in the Inland Empire city of Riverside. Totaling 603,100 square feet, the project will include a 400,000-square-foot building and a 203,100-square-foot building. The two buildings will offer 36-foot clear heights, 56-foot by 60-foot column spacing, 623 auto parking spaces and 155 trailer parking spaces. As part of the development, Rockefeller Group will develop and then donate a 1.2-acre trailhead parking lot north of the property that will provide hiking and mountain biking access to the Sycamore Canyon Wilderness Park. The trailhead parking lot will include 52 parking stalls, a seating area, drinking fountain and bike repair stand that will be dedicated in fee title to the City of Riverside upon completion. JPMorgan Chase provided $87.2 million in construction financing for the project, which is slated for completion in early 2025. The project team includes HPA Architects, Kimley-Horn, Fullmer Construction and ECM Management. Bill Heim, Alex Heim, Michael Chavez, Mario Calvillo and Finn Comer of Lee & Associates’ Ontario office will oversee leasing of the project.

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3106-N-Garey-Ave-Pomona-CA.jpg
AcquisitionsCaliforniaMultifamilyWestern

Flowing Streams Acquires North Garey Village Apartments in Pomona, California for $9.9M

by Amy Works

POMONA, CALIF. — Flowing Streams LLC has purchased North Garey Village Apartments, a multifamily community in Pomona, for $9.9 million. Pomona is approximately 30 miles east of Los Angeles. Douglas McCauley and David Covarrubias of Marcus & Millichap’s Inland Empire office represented the seller, Kot and Offenbecher Trust, and procured the buyer in the transaction. Located at 3016 N. Garey Ave., North Garey Village Apartments offers 44 residences spread across 11 apartment buildings on a 1.5-acre parcel. Community amenities include single-car garages, on-site laundry facilities, storage rooms and select units with fireplaces. The property was built in 1963.

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The-Abbey-West-Hollywood-CA
AcquisitionsCaliforniaRestaurantRetailWestern

Marcus & Millichap Negotiates $27M Sale of Two Hollywood Nightspots

by Amy Works

WEST HOLLYWOOD, CALIF. — Marcus & Millichap has arranged the sale of The Abbey Food & Bar and The Chapel at The Abbey, two nightspots in West Hollywood. David Cooley sold the assets to Tristan Schukraft for $27 million. Brandon Michaels and Matthew Luchs of Marcus & Millichap represented the seller and procured the buyer in the deal. The previous ownership transformed a small coffee shop into The Abbey Food & Bar became a well-known bar, restaurant and event venue, and opened its sister location, The Chapel at The Abbey. The assets are located on neighboring parcels at the signalized corner of North Robertson and Santa Monica boulevards.

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1212-E-4th-St-Santa-Ana-CA
AcquisitionsAffordable HousingCaliforniaDevelopmentMultifamilyWestern

CBRE Brokers $1.2M Sale of 4G Lofts Multifamily Development Site in Santa Ana, California

by Amy Works

SANTA ANA, CALIF. — CBRE has arranged the sale of a 0.29-acre, fully entitled multifamily development site at 1212 E. 4th St. in Santa Ana. A private seller sold the asset to an Orange County-based buyer for $1.2 million. Currently named 4G Lofts, the shovel-ready development is fully entitled for 15 studios, one- and two-bedroom apartments, with one unit designated as affordable for very-low-income residents. Additionally, the property will offer 17 parking spaces. The site is located in Orange County. Michelle Jefcoat and Dan Blackwell of CBRE represented the seller in the transaction.

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Tanzanite-Living-Sacramento-CA.jpg
Build-to-RentCaliforniaDevelopmentSingle-Family RentalWestern

New Growth Living Opens 211-Unit Tanzanite Homes Build-to-Rent Development in Sacramento

by Amy Works

SACRAMENTO, CALIF. — Austin, Texas-based New Growth Living has opened Tanzanite Homes, a build-to-rent community at 2490 Quiet Trail Lane in Sacramento’s Natomas neighborhood. The development offers 211 units in a mix of single-family homes and duplexes. Designed by Jeffrey DeMure + Associates, the majority of residences are grouped as duplex units with attached and detached alley-loaded garages. The two- and three-bedroom homes range from 1,009 square feet to 1,501 square feet, while the 73 one-bedroom units are 726 square feet. Additionally, there are eight single-family detached homes. In-unit features include all-electric appliances, quartz countertops, modern wood-style flooring, spacious closets and smarthome technology. Many of the units also have private fenced-in yards. Tanzanite Homes features four central gathering areas with shared community amenities, including a 2,800-square-foot clubhouse, fitness center, resort-style swimming pool with lounge areas, and an outdoor barbecue kitchen with grilling station, fire pits and green space.

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Potomac-Apts-Riverside-CA
AcquisitionsCaliforniaMultifamilyWestern

AB Potomac Sells 34-Unit Multifamily Property in Riverside, California

by Amy Works

RIVERSIDE, CALIF. — AB Potomac Apts LLC has completed the sale of Potomac Apartments, a multifamily asset in the Inland Empire city of Riverside. KEBA Potomac Street LLC acquired the property for $7.7 million, or $227,941 per unit. Located 1.5 miles from California Baptist University, Potomac Apartments features 34 studio, one- and two-bedroom floor plans, averaging 626 square feet. Community amenities include patios, laundry facilities and covered parking. Eric Chen, Kevin Sin and Blake Torgerson of CBRE represented the buyer and seller in the deal. Ryan Wilkinson of CBRE arranged acquisition financing for the buyer.

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CaliforniaIndustrialMarket ReportsWesternWestern Market Reports

Greater LA’s Industrial Market Shows Resilience in a Changing Landscape

by Jeff Shaw

— By Robert Peddicord, Executive Managing Director, CBRE South Bay — The Greater Los Angeles (GLA) industrial market is showing stability while enduring challenges like higher vacancy rates, negative absorption and an anticipated decrease in lease rates. Markets across the country continue to adjust post-pandemic, and GLA is no exception. Nevertheless, the GLA industrial market is poised for long-term resilience, thanks, in part, to its proximity to the ports of Los Angeles and Long Beach, while LA’s large population base drives the need for warehousing.  San Pedro Bay Ports The GLA industrial market continues to rely on the San Pedro Bay ports, the two largest ports by volume in the U.S. Although there has been an average decrease of 1.9 percent in cargo volume over the past five years, the San Pedro Bay terminal operators and dockworkers moved 16.6 million TEUs (twenty-foot equivalent units) in 2023, outpacing the TEUs moved at other ports.  Disruptions from the Suez and Panama canals may divert more U.S.-bound cargo ships from Asia to West Coast ports. The West Coast benefits from lower shipping container costs, with about a 40 percent discount shipping to the West Coast compared to the East Coast. U.S. importers, shippers …

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The-Alcove-Woodland-Hills-CA
Affordable HousingCaliforniaDevelopmentMultifamilyWestern

R.D. Olson Construction Breaks Ground on The Alcove Affordable Housing Complex in Los Angeles

by Amy Works

LOS ANGELES — R.D. Olson Construction has broken ground on The Alcove, a seven-story, 238,000-square-foot affordable housing project in the Woodland Hills neighborhood of Los Angeles. Meta Housing Corp. is the developer. Located at 21300 W. Oxnard St., the first phase of construction will include 173 units ranging in size from 620-square-foot studios to 1,300-square-foot three-bedroom apartments, with completion slated for fall 2025. The second phase, which is in planning stages, will add 128 units and will be located on the north section of the 2.25-acre lot. Community amenities will include a community room, designated exercise area, storage room for 200 bicycles, tot lot playground and common outdoor areas with barbecues. The first level will be dedicated to parking and management offices, with a 6,000-square-foot courtyard on the third level. Additionally, each floor will have a laundry room and centralized trash chute system. The complex will offer units to families earning between 30 percent to 80 percent of the area median income, with restrictions for affordability to stay in place for 55 years. A.C. Martin is serving as architect, with management from AMJ Construction Management.

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13812-La-Pat-Pl-Westminster-CA
AcquisitionsCaliforniaMultifamilyWestern

CBRE Negotiates $10M Sale of La Pat Courtyard Apartments in Westminster, California

by Amy Works

WESTMINSTER, CALIF. — CBRE has negotiated the sale of La Pat Courtyard Apartments, a multifamily asset in the Orange County city of Westminster. An Orange County-based private investor acquired the property from a Los Angeles-based seller for $10 million. Dan Blackwell and Andrew Boukather of CBRE represented the seller, while Blackwell and Amanda Fielder of CBRE represented the buyer in the transaction. Located at 13812 La Pat Place, La Pat Courtyard consists of 21,416 square feet of space spread across two two-story buildings. Originally built in 1961, the property recently underwent extensive interior and exterior renovations, totaling more than $1.4 million in improvements. The 30-unit community offers one studio unit, 17 one-bedroom units and 12 two-bedroom units, all completely remodeled during the renovation process. The units offer washers/dryers, stainless steel appliances, a wall air conditioner, mirrored closet sliding doors and plank vinyl flooring. Community amenities include a courtyard with picnic tables, barbecues and pergolas; front and rear security gates; and 49 parking spaces, including three garage spaces, 27 covered spaces and 19 open spaces.

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Cortona-Inn-Suites-Anaheim-CA
CaliforniaHospitalityLoansWestern

PSRS Arranges $9.1M Refinancing for Cortona Inn and Suites in Anaheim, California

by Amy Works

ANAHEIM, CALIF. — PSRS has arranged $9.1 million in refinancing for Cortona Inn and Suites, a hotel property in Anaheim. Situated in the heart of Anaheim Resort, the hotel features 127 guest rooms. Cortona Inn and Suites is adjacent to Anaheim Convention Center and walking distance from Disneyland. Mike Thorp and Ari Zeen of PSRS secured a seven-year loan, provided with a bank execution, for the undisclosed borrower.

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