Western

Former San Diego Daily Transcript Building Sells for $5.3M

by Nellie Day May 16, 2016

SAN DIEGO — SDPB Holdings LLC has purchased a 34,298-square-foot office property that formerly housed the San Diego Daily Transcript for $5.3 million. The three-building property is located at 2131 3rd Ave. The property was home to the San Diego Daily Transcript for more than three decades. The newspaper vacated the space in October 2015. The LLC plans to redevelop the property into a creative office complex. Paul Lafrenz, Marc Frederick and Tim Cowden of Colliers International represented The Transcript in the transaction.

May 16, 2016

California Loans Retail Western

NorthMarq Capital Arranges $3M in Acquisition Financing for Mixed-Use Property in Los Angeles

by Nellie Day May 16, 2016

LOS ANGELES — NorthMarq Capital has arranged $3 million in acquisition financing for 24th & Vermont, a 19,280-square-foot mixed-use property located at 451-467 N. Western Ave. in Los Angeles. The transaction was structured with a 10-year term with three years of interest-only payments, followed by a 27-year amortization schedule. David Blum of NorthMarq arranged the financing for the borrower through a regional bank.

May 16, 2016

Arizona Multifamily Western

Signature Place Condominiums in Tempe Sells for $40M

by Nellie Day May 13, 2016

TEMPE, ARIZ. — Western Wealth Capital has purchased the 300-unit Signature Place Condominiums in Tempe for $40 million. The community is located at 4715 N. 32nd St. It is situated near Discovery Business Campus, ASU Research Park and Chandler’s Price Technology Corridor, known as the Silicon Valley of the Desert. Doug Lazovick, Eddie Chang, Alon Shnitzer, John Kobierowski and Rue Bax of ABI Multifamily represented both the buyer and the seller, Mercury Investment, in this transaction.

May 13, 2016

California Loans Retail Western

NorthMarq Capital Arranges $6M Refinancing for Skyline Center in Thousand Oaks

by Nellie Day May 13, 2016

THOUSAND OAKS, CALIF. — NorthMarq Capital has arranged the $6 million refinancing of Skyline Center, a 36,900-square-foot retail property located in Thousand Oaks. The 10-year, non-recourse loan features a 30-year amortization schedule and a seven-year fixed rate that will switch to floating for the last three years. Joe Giordani of NorthMarq’s Los Angeles office secured the financing for the undisclosed borrower.

May 13, 2016

California Industrial Western

Noble House Home Furnishings Leases 741,458 SF Distribution Center in Ontario

by Nellie Day May 13, 2016

ONTARIO, CALIF. — Noble House Home Furnishings has leased Prologis Mission Distribution Center, a 741,458-square-foot industrial distribution center in Ontario. The Class A center is located at 3655 S. Philadelphia St. It was built in 2001 and acquired by Prologis in 2007. The center was completely vacant prior to this lease. Peter Castleton of Voit represented the national residential furniture manufacturer in the transaction.

May 13, 2016

California Retail Western

Vestar Selected to Manage Two Retail Centers in Placentia, San Diego

by Nellie Day May 13, 2016

PLACENTIA AND SAN DIEGO, CALIF. — Vestar has been selected to two retail properties in Placentia and San Diego. In the first assignment, Vestar will manage Placentia Square, a community retail center in Placentia. Located at the corner of Yorba Linda and Kraemer boulevards, Wells Fargo, Walgreens, Supercuts, Pick Up Stix, Subway and Rubios occupy the 27,930-square-foot center. In the second assignment, Clarion Partners selected Vestar to manage Courtyard at Carmel Mountain Ranch, a community retail center at 11134 Rancho Carmel Drive in San Diego. Best Buy, TJ Maxx, Staples, Petco and The Vitamin Shoppe occupy the 128,000-square-foot property. With these assignments, Vestar now manages more than 26 million square feet of retail space throughout the West Coast.

May 13, 2016

California Retail Western

Flocke & Avoyer Arranges 1,270 SF Lease in Carlsbad for Bakery

by Nellie Day May 13, 2016

CARLSBAD, CALIF. — Flocke & Avoyer Commercial Real Estate has arranged the lease of 1,270 square feet of space at Bressi Village, located at 2623 Gateway Road in Carlsbad. Cravory Holdings LLC signed a five-year lease with a consideration of $364,100 for the space where it plans to open a bakery. Stewart Keith and Bill Thaxton of Flocke & Avoyer represented the lessor, while Greg Bowman of Cushman & Wakefield represented the lessee in the deal.

May 13, 2016

Arizona Industrial Western

Exeter Property Group Buys Phoenix Industrial Portfolio for $66M

by Nellie Day May 12, 2016

PHOENIX — Exeter Property Group has purchased a three-property industrial portfolio in metro Phoenix for $66 million. The portfolio contains a total of 937,655 square feet. The acquisition includes the 603,909-square-foot Riverside Business Center; the 250,157-square-foot Estrella Buckeye distribution center; and the 83,589-square-foot 2021 S. 51st Ave. truck terminal facility. The portfolio is leased to six tenants. JLL’s Bo Mills and Mark Detmer represented the seller, Duke Realty Corp., in this transaction.

May 12, 2016

California Retail Western

Donahue Schriber Acquires San Francisco Bay Area Shopping Center

by Nellie Day May 12, 2016

LOS GATOS, CALIF. — Donahue Schriber has acquired Los Gatos Village Square, a 46,235-square-foot grocery-anchored shopping center located in the San Francisco Bay area community of Los Gatos. Trader Joe’s anchors the fully occupied center. Nicholas Bicardo, Danny Reddin and Brandon Rogoff of HFF represented the undisclosed institutional seller in the transaction.

May 12, 2016

California Retail Western

Vestar Purchases Retail Center in Granite Bay for $28.1M

by Nellie Day May 12, 2016

GRANITE BAY, CALIF. — Vestar has acquired Sierra Oaks Plaza, a neighborhood shopping center located in Granite Bay in the Sacramento metropolitan area. The asset, which is situated at the intersection of Douglas and Sierra College boulevards, sold for $28.1 million. Walmart Neighborhood Market, Chick-Fil-A, Crunch Fitness, Tri Counties Bank and Habit Burger occupy the 105,555-square-foot property. Over the past 12 months, Vestar has acquired six retail centers valued at $700 million throughout the Western states.

May 12, 2016

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