ROLLING HILLS ESTATES, CALIF. — An 18-month redevelopment has been completed at Peninsula Shopping Center in Rolling Hills Estates. The parties involved in the redevelopment were not disclosed. In addition, new stores have opened at the center including Orchard Supply Hardware (OSH), Petco, Ulta Beauty, The Bar Method, AT&T, Verizon, The Habit Burger Grill and Chipotle. Mod Pizza will open this summer. The redevelopment increased the center’s size by 16,579 square feet, which included the addition of three new retail/restaurant pads. The changes also included demolishing the existing pedestrian colonnade and constructing a drive aisle in its place, reconfiguring parking and circulation facilities, creating new junior anchor spaces and improving sidewalks.
LOS ANGELES — Oakwood Worldwide has opened the 201-unit Oakwood Olympic & Olive apartment complex in downtown Los Angeles. The newly constructed corporate housing asset is located at 1001 S. Olive St. The mid-rise property features a sky lounge, downtown views from the pool deck and townhomes with front-door stoops along Olive Street. It offers furnished and unfurnished apartment options ranging from studio to two-bedroom layouts with open-concept living areas. The units feature quartz countertops, glass-tile backsplashes, stainless steel appliances, gas ranges, 10-foot ceilings and in-unit washers and dryers. Oakwood Olympic & Olive is Oakwood Worldwide’s third branded property in Los Angeles. Oakwood’s parent company is Mapletree Investments.
BOULDER, COLO. — Rivendell Global Real Estate has acquired a 26-unit apartment community in Boulder known as 17-Walnut for $15.6 million. The community is situated in the East End corridor of downtown. The sale closed at $654 per square foot, the highest price for a multifamily community within 750 miles of the property, according to ARA Newmark, which represented the seller, Element Properties, in this transaction. Nearby office activity includes Twitter moving into a new 60,000-square-foot space and Google building a $150 million campus set to house 1,500 employees. The community was built in 2015. Community amenities include heated underground parking, bike storage and repair shop, private courtyard with barbecue grills, dog wash, and lobby with Wi-Fi, coffee bar and breakfast service.
NORTHRIDGE, CALIF. — 8351 Amigo Apartments LLC has acquired a nine-unit apartment building in Northridge for $1.9 million. The community is located at 8351 Amigo Ave. It was built in 1962. The property contains one- and two-bedroom units. Clyde Isaacson of Marcus & Millichap represented the buyer. The seller was not disclosed.
LOS ANGELES — CenterPoint Properties has purchased 1 million square feet of contiguous transload facilities in Los Angeles. The price was undisclosed, though the company noted it purchased the asset “below replacement cost.” The property sits on 44.5 acres with easy access to a large population, nearby ports and major highways. CenterPoint plans to reposition and stabilize the asset to capture growing industrial demand.
LOS ANGELES — An e-commerce company has leased 295,267 square feet of infill logistics space at the Goodman Logistics Center in the Los Angeles submarket of Santa Fe Springs. The facility is situated less than two miles from I-5 and I-605. It is 22 miles from the ports of Los Angeles and Long Beach and 15 miles from downtown Los Angeles. The online supplier of automotive parts signed a seven-year lease on the first of three logistics facilities currently under construction. It is scheduled to take occupancy this summer. The remaining two facilities will be completed by the end of the year. The Goodman Group is developing the property.
MESA, ARIZ. — Skanska is completing construction on Phase I of Dexcom’s 145,000-square-foot build-out of an existing shell building in Mesa. The facility will be located at 232 S. Dobson Road. The first phase includes the renovation of a 60,000-square-foot industrial warehouse to medical device manufacturing space that will produce hardware- and software-compatible glucose monitors. The space includes 33,000 square feet of controlled environment room, chem prep and microbiology labs, 20,000 square feet of production machine shop and high-bay warehouse space, 42,000 square feet of equipment mezzanines, and 20,000 square feet of office, training and support space. A new 10,000-square-foot central utility building and equipment yard will also be built on-site.
LOS ANGELES — Universe Holdings has secured a $9.2 million loan for the 50-unit Sycamores apartments in the Los Angeles submarket of Inglewood. The community is located at 875 Victor Ave. The Sycamores was built in 1972. Universe Holdings has renovated and modernized the asset since it acquired the property in 2014. The refinancing retired existing debt and the original principal and improvement capital. It was arranged by HFF’s Charles Halladay.
SACRAMENTO, CALIF. — Hunt Mortgage Group has provided a $5 million loan to Promise Keeper LLC for the acquisition of the 72-unit Arden Villas apartment community in Sacramento. The community is located at 2043-2045 Wyda Way. Arden Villas is currently 96 percent occupied. Units were recently updated with new flooring, countertops, cabinetry and hardware. Select units also contain a washer and dryer, central HVAC and/or small yards and patio spaces. The loan was a Freddie Mac Small Balance Loan.
LOS ANGELES — Omninet Capital LLC has purchased the four-building Los Angeles Corporate Center in the Monterey Park submarket for an undisclosed sum. The office campus is located at 900, 1000, 1200 and 1255 Corporate Center Drive. The Class A campus contains a total of 394,524 square feet. It is 95 percent occupied with tenants like the State of California, Los Angeles County, State Compensation Insurance Fund, Synermed and AT&T. Sean Fulp, Kevin Shannon, Ken White and Brunson Howard of NGKF Capital Markets represented the seller, Equity Office Properties, in this transaction.