ONTARIO, CALIF. — Majestic Realty Co. has broken ground on a 239,400-square-foot, build-to-suit warehouse and manufacturing/production facility in Ontario. The site, which was the former home of the Sunkist factory, is located at 752 Campus Ave. Melmarc will occupy the property. The screen printing package company will consolidate its multiple Orange County operations and headquarters into this single facility. The building is scheduled for completion and occupancy in early 2017.
LAKEWOOD AND CULVER CITY, CALIF. — Corona Del Mar-based Hanley Investment Group Real Estate Advisors has arranged the sale of two 7-Eleven stores located in California. The properties include a 1,481-square-foot 7-Eleven located in Culver City, as well as a 4,690-square-foot, two-tenant strip center occupied by 7-Eleven in Lakewood. Jeremy McChesney of Hanley represented the buyer and seller, both undisclosed private investors, in the sale of the Culver City property for $2.7 million. McChesney represented the buyer, an undisclosed private investor, and Dave Hunsaker and Chuck Noble of Lee & Associates represented the sellers, Orange, Calif.-based private investors, in the sale of the Lakewood strip center for $3.4 million.
WALNUT CREEK, CALIF. — JCH Seniors Housing Group has brokered the $1 million sale of Heatherwood Alzheimer’s Assisted Living, a 32-bed memory care community in Walnut Creek, located approximately 25 miles northeast of San Francisco. Next Level Skilled Nursing purchased the community from Alzheimer Program Development Corp. Heatherwood was built in 1964 and has undergone numerous renovations since that time. Shep Roylance and Chris Harmon of JCH facilitated the transaction.
SUNNYVALE, CALIF. — Aessense is consolidating, expanding and relocating its headquarters and R&D facility to Sunnyvale. The 16,260-square-foot, single-story building is located at 1281 Reamwood Drive. The Class A flex property has been fully renovated. It is situated near Highway 237 and the Lawrence Expressway. The developer of aeroponic plant growth systems and products is currently located at 1400 Terra Bella Ave. in Mountain View and 1220 Alderwood Drive in Sunnyvale. The company has nearly tripled its size. It will occupy the new space in October. AEssense is a Pan-Pacific company with a significant manufacturing facility in Shanghai. Scott Kinder of Savills Studley represented AEssense, while Greg Davies, Steve Horton, Alan Guterman and Kelly Yoder of Cushman & Wakefield represented the landlord, WTA Reamwood LLC, in this transaction.
LOS ANGELES — A joint venture between Douglas Emmett and Qatar Investment Authority (QIA) has purchased a 365,000-square-foot office property in the West Los Angeles submarket of Brentwood for $225 million. The Class A office building is located at 12100 Wilshire Blvd. The property will be 77 percent leased after a few impending vacancies. The space was acquired using a new secured, non-recourse, $90 million, interest-only loan that matures in July 2019. The loan bears interest at a floating rate of LIBOR plus 1.55 percent.
LOS ANGELES — Rockwood Capital has acquired Playa Jefferson, an 11-acre creative office campus in the Playa Vista submarket of Los Angeles, for a reported $165 million. The campus is located at 12777 W. Jefferson Blvd. Playa Jefferson contains four buildings that total 200,000 square feet. A fifth building containing 55,000 square feet is slated for construction later this year. The campus serves as the Los Angeles headquarters for Facebook. It is also home to Arup engineering firm, Omnicom advertising agency and R/GA Regus flexible workspace provider. The seller, Vantage Property Investors, transformed the ‘70s-era property into its current creative iteration. The campus is 93 percent leased.
ORANGE, CALIF. — BC 2 Environmental has leased 34,215 square feet of industrial manufacturing facilities in Orange. The leased space includes 3,600 of office space. The environmental and geotechnical drilling services provider signed two five-year leases for 1150 & 1250 W. Trenton Ave. The leases are valued at $2.1 million. Bryan Miller and Jim Snyder represented the landlord, Sukut Real Properties, in these transactions.
SACRAMENTO, CALIF. — Ready Capital Structured Finance has closed a $5 million loan for the acquisition, renovation and stabilization of a 92-unit multifamily complex in Sacramento. The two-story community is situated 1.5 miles from the Capital City Freeway, which connects the property to downtown Sacramento. The two-year, non-recourse loan will help fund interior and exterior renovations. The loan features a one-year extension, along with flexible pre-payment. It also includes a facility to provide for interest and working capital reserves, as well as future funding for capital expenditures. Ready Capital Structured Finance originates, manages and finances non-recourse floating- and fixed-rate loans of up to five years on transitional, value-add, and event-driven commercial and multifamily real estate opportunities.
ANTIOCH, CALIF. — SRS Real Estate Partners has brokered the sale of The Crossings, a retail center located at the corner of Hillcrest Avenue and Deer Valley Road in Antioch, for an undisclosed price. A limited partnership managed by Beverly Hills-based CNA Enterprises sold the property to a partnership controlled by Campbell-based JK Properties. Safeway and Rite Aid anchor the 125,000-square-foot property. Michael Federle of SRS represented the seller, while Mark Thomas, also of SRS, represented the buyer in the deal.
SEATTLE — Mirae Asset Global Investments has acquired the Amazon Phase VIII building in Seattle for $246.8 million. Vulcan Real Estate sold the 12-story, 317,804-square-foot office building. The building, constructed in 2015, includes 5,297 square feet of ground-floor retail space and serves as Amazon’s headquarters. The property, located at 325 9th Ave. N. in the South Lake Union neighborhood, is LEED Gold certified and features 443 parking spaces. Mirae Asset Global Investments is an international investor based in Seoul, South Korea. Kevin Shannon, Ken White and Michael Moll of Newmark Grubb Knight Frank (NGKF) brokered the transaction. David Milestone and Brett Green of NGKF arranged financing for Mirae Asset Global Investments. “Global capital is increasingly recognizing the unique opportunity offered by South Lake Union and the Puget Sound region,” says Shannon, president of NGKF Capital Markets. “Seattle, San Francisco and Los Angeles sales activity in the CBDs has been dominated by foreign buyers in 2016 and this is yet another example of this.” Amazon has approximately 15 years remaining on its lease. — Christina Cannon