Western

Manhattan Towers in LA Sold in Largest Single-Asset E-Commerce Transaction

by Nellie Day August 7, 2015

LOS ANGELES — Manhattan Towers, 309,734-square-foot office property in the Los Angeles submarket of Manhattan Beach, has sold for $96 million. The unnamed buyer acquired the two-building asset through an online auction at Auction.com. It was the largest single e-commerce transaction to date, according to Guinness World Records. Manhattan Towers is located at 1230 and 1240 Rosecrans Ave. It was built in 1985. The Guinness record was previously held by Mark Cuban, who purchased a Gulfstream V private jet for $40 million in 1999. The office property’s auction concluded July 22. The seller was CWCapital. Eastdil Secured brokered the deal.

August 7, 2015

California Multifamily Western

TruAmerica, Intercontinental Buy Maribelle Apartment Homes in Santa Rosa

by Nellie Day August 7, 2015

SANTA ROSA, CALIF. — TruAmerica Multifamily and Intercontinental Real Estate have purchased the 287-unit Maribelle Apartment Homes in the Napa submarket of Santa Rosa for $59 million. The community is located at 750 Apple Creek Lane. Maribelle Apartments was built in 1987. It is the largest apartment community in Santa Rosa. The property is near US 101 and California State Highway 2. It will also be situated near the Santa Rosa Station of the Sonoma Marin Rail Transit Service once it’s completed. The partnership obtained a seven-year, interest-only, fixed-rate agency loan that was originated by Brian Eisendrath and Cameron Chalfant of CBRE Capital Markets.

August 7, 2015

California Industrial Western

Castle rock Acquires Chula Vista Industrial Park for $6.7M

by Nellie Day August 7, 2015

CHULA VISTA, CALIF. — Castlerock Investments has purchased a 43,395-square-foot industrial park in Chula Vista for $6.7 million The park is located at 871 Harold Place in the San Diego submarket. Tracy Clark and Kimberly Clark of Voit Real Estate Services’ San Diego office represented the seller, Seymour/Lewis Development.

August 7, 2015

California Retail Western

Retail California Brokers Two Retail Property Sales in Porterville

by Nellie Day August 7, 2015

PORTERVILLE, CALIF. — Retail California, a division of Pearson Realty, has arranged two retail property sales in Porterville. The Stapleton Group sold two properties to Sage Investco Wood LLC for an undisclosed sum. The properties are a 2,400-square-foot retail building at 1132 W. Henderson Ave. and a 3,091-square-foot retail building at 1150 W. Henderson Ave. In both transactions, Nick Frechou of Retail California represented the buyer, while John Hale and Jason Alexander of Colliers International represented the seller.

August 7, 2015

California Office Western

Burnham-Ward Properties Buys Newport Beach Office Building

by Nellie Day August 6, 2015

NEWPORT BEACH, CALIF. — Burnham-Ward Properties has acquired a 28,000-square-foot office building in Newport Beach for an undisclosed sum. The building is located at 4220 Von Karman Ave., within the Koll Center Newport master-planned office park. The entire 14,000-square-foot second floor of the office building was pre-leased during escrow to personal injury law firm Bergener & Associates. John Pomer and Ben Gott of Stream Realty and Justin Hodgdon of Newmark Grubb Knight Frank represented both the buyer and lessee in this transaction.

August 6, 2015

California Multifamily Western

The Commodore Apartments in Beverly Hills Sells for $4.7M

by Nellie Day August 6, 2015

BEVERLY HILLS, CALIF. — The Commodore, a 14-unit apartment complex in Beverly Hills, has sold to Paul Ling for $4.7 million. The community is located at 1830 N. Cherokee Ave. It is situated just three blocks from the Golden Triangle on South Rexford Drive. Kevin Kawaoka of NAI Capital represented both the buyer, which was not identified, and seller, Tower Ventures LLC, in this transaction.

August 6, 2015

California Industrial Western

Spacesonic Relocates to Industrial Building in Union City

by Nellie Day August 6, 2015

UNION CITY, CALIF. — Spacesonic is relocating its operations from San Carlos to Union City. The new 70,800-square-foot space is located at 30300 Union City Blvd. Spacesonic manufactures and distributes custom sheet metals. CBRE’s Chip Sutherland and Soroush Kaboli of Soroush Kaboli Brokerage Services represented Spacesonic. Greig Lagomarsino, Sean Sabarese and Nick Ousman of Colliers International’s Oakland office represented the landlord.

August 6, 2015

California Multifamily Western

Long Beach Apartment Building Sells for $4.8M

by Nellie Day August 6, 2015

LONG BEACH, CALIF. — Rdbh LLC has acquired a 27-uinit apartment building in Long Beach for $4.8 million. The community is located at 1101-1121 Gaviota Ave. It was built in 1988. The property is located within the Rose Park historical district near the neighborhoods of Carroll Park and Belmont Heights. The buyer plans to hold this asset long term, according to Stepp Commercial, which represented the buyer. The seller, Lunar Bear Properties II LLC, represented itself. Robert Stepp and Michael Toveg represented Rdbh.

August 6, 2015

Colorado Retail Western

Orchard Town Center Adds Seven New Tenants

by Nellie Day August 6, 2015

WESTMINSTER, COLO. — Orchard Town Center, a 914,000-square-foot open-air regional retail center located in Westminster, has added seven new tenants to its roster. Additions include a newly opened Bitto Bistro; a 2,673-square-foot Crushed Red to open in August; a 3,085-square-foot 20/20 EyeVenue to open in September; a 6,644-square-foot Katie Eile to open in October; and a 4,500-square-foot Rusty Bucket Restaurant and Tavern, a 23,000-square-foot Marshalls, and a 5,000-square-foot Maurices, all to open in spring 2016. Other recent openings include a 7,500-square-foot DXL and a 4,346-square-foot Panera Bread. Phoenix-based Vestar, who acquired the property in 2014 in a joint venture with UBS, oversees property management, leasing and marketing at Orchard Town Center.

August 6, 2015

California Multifamily Western

Kennedy Wilson Buys Slate Creek at Johnson Ranch in Roseville for $100M

by Nellie Day August 5, 2015

ROSEVILLE, CALIF. — Kennedy Wilson has purchased Slate Creek at Johnson Ranch, a 612-unit multifamily community in Roseville, for $100 million. The community is located at 8800 Sierra College Blvd. The company and its equity partners invested an aggregate of $38.5 million of equity in the transaction. The group also assumed $63 million of debt as part of the off-market transaction. The seller was not named. Kennedy Wilson has acquired interests in 6,449 multifamily units in the Western U.S., year to date. Its global multifamily portfolio totals more than 26,000 units.

August 5, 2015

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