Western

JH Real Estate Buys Hawaiian Gardens Town Center in Los Angeles

by Nellie Day May 8, 2015

LOS ANGELES — JH Real Estate Partners has purchased Hawaiian Gardens Town Center, a 124,645-square-foot retail center in the Los Angeles submarket of Hawaiian Gardens, for $33 million. The center is located at 12090-12144 Carson Street. Hawaiian Gardens Town Center is situated off the 605 freeway, within walking distance of the city’s largest employer, the Hawaiian Gardens Casino. The center is 95 percent occupied. It is anchored by Walmart Neighborhood Market. Other notable tenants include O’Reilly Auto Parts, Sally Beauty Supply, MetroPCS, Hertz Rent-a-Car and Rent-a-Center. The seller, an affiliate of HP Investors LLC, was represented by HFF’s CJ Osbrink, Ryan Gallagher and Bryan Ley.

May 8, 2015

Cabana on Thomas Apartments in Phoenix Sells for $24.3M

by Nellie Day May 8, 2015

PHOENIX — The 382-unit Cabana on Thomas apartment community in Phoenix has sold for $24.3 million. The buyer was not named. The community is located at 1645 East Thomas Road. Cabana on Thomas is situated a half-mile west of State Route 51, also known as the Piestewa Freeway, which provides access to Downtown Phoenix and Sky Harbor International Airport. Nearby employers include public entities like the City of Phoenix, Maricopa County and the State of Arizona, as well as companies like Wells Fargo, Bank of America, JPMorgan Chase, Freeport McMoRan Copper & Gold Inc., Ernst & Young, United Healthcare and Cigna Healthcare. Common-area amenities include a clubhouse, four resort-style pools, a fitness center, electric vehicle charging stations, a bike storage room and a dog park. It offers studios to three-bedroom units. The seller, Deco Communities, was represented by Steve Gebing of Institutional Property Advisors and Cliff David of Marcus & Millichap.

May 8, 2015

Multifamily Oregon Western

Clinton Court Apartments in Portland Sells for $6M

by Nellie Day May 8, 2015

PORTLAND, ORE. – The 46-unit Clinton Court apartments in Portland has sold to Clinton Properties LLC for $6 million. The community is located at 2725 SE 29th Street. The seller repositioned the property in 2013. Kirk Ward of Norris & Stevens represented both the buyer and seller, CCA LLC, in this transaction.

May 8, 2015

California Industrial Western

Escondido Industrial/Flex Property Sells for $8.3M

by Nellie Day May 7, 2015

SAN DIEGO – A 76,495-square-foot industrial/flex building in the San Diego submarket of Escondido has sold to SR Commercial for $8.3 million. The building is located at 298-304 Enterprise Street within the Escondido Business Park. The space, known as Enterprise Heights Industrial Centre, is fully leased. Tucker Hohenstein, Mike Erwin and Conor Boyle of Colliers International represented both the buyer and seller, Enterprise Heights Industrial Centre Associates, in this transaction.

May 7, 2015

Arizona Industrial Western

ViaWest Buys Land in Deer Valley for $3.2M

by Nellie Day May 7, 2015

DEER VALLEY, ARIZ. – ViaWest has acquired nine acres of land in Deer Valley for $3.2 million. The land is located at 50 and 100 E. Pinnacle Peak Road in the Phoenix submarket. It is currently leased to Cemex, a global building materials company that provides high-quality products and services. ViaWest Group was represented by John Pompay and Gary Anderson of DTZ. The seller, Luke Land 80 LLC, was represented by Luke Lewis of Luke Land Realty.

May 7, 2015

Industrial Utah Western

River Springs Ranch Corporation Buys Utah Industrial Park

by Nellie Day May 7, 2015

SALT LAKE CITY – River Springs Ranch Corporation has acquired a 60,595-square-foot industrial park in Salt Lake City for an undisclosed sum. The park is located at 4030, 4036 and 4050 South 500 West. River Springs is looking to exchange out of its West Coast products and into more stable markets, such as Utah, according to Bryce Blanchard and Zach Anderson of Newmark Grubb ACRES, which represented the California investor. The seller, 4000 S Industrial Park LLC, was represented by Mark Jensen, Jeff Heaton and Robert Kingsford of the same firm.

May 7, 2015

California Retail Western

Planet Fitness Leases 21,257 SF Space in Los Angeles

by Nellie Day May 7, 2015

LOS ANGELES – Planet Fitness has leased a 21,257-square-foot retail location in Downtown Los Angeles. The space is located at 1000 E. Washington Blvd. It was previously occupied by Casa Linda Furniture. The space will undergo significant renovations. Planet Fitness is scheduled to occupy the space this October. Other tenants at the property include Auto Zone, Boost Cellular and Subway. The 10-year lease is valued at $5.7 million. Planet Fitness was represented by SRS Real Estate Partners. The landlord, Miracle Mile Properties, was represented by George Russell of Charles Dunn Company.

May 7, 2015

California Office Western

Getty Images Renews Office Lease in Los Angeles

by Nellie Day May 7, 2015

LOS ANGELES – Getty Images has renewed its lease for 22,557 square feet of office space in Los Angeles. The space is located at 6300 Wilshire Blvd. The still imagery, footage and music provider has leased this Class A space since 2005. Getty was represented by Josh Gorin of Savills Studley. The landlord, Legacy Partners, was represented by CBRE’s Joel Frank.

May 7, 2015

California Hospitality Western

Sunrider International Buys SLS Beverly Hills

by Nellie Day May 6, 2015

LOS ANGELES — Sunrider International has acquired the 297-room SLS Beverly Hills for about $200 million. The hotel is located at 465 S. La Cienega Blvd. The hotel was sold by Sam Nazarian’s SBE, a locally based hospitality company that develops, manages, and operates hotels, restaurants and nightlife venues. SLS Beverly Hills opened in November 2008 as part of the Luxury Collection Hotels & Resorts brand. It was designed by Philippe Starck, and offers a variety of culinary experiences crafted by James Beard award-winning chef Jose Andres. The property has been an AAA Four Diamond Award recipient since 2009. It is managed by Starwood Hotels & Resorts Worldwide. SBE currently has 11 new projects in various stages of development, construction and negotiation, including the recent announcement of five new hotels in Mexico. The new projects include a total of 1,893 hotel rooms and 2,230 residences throughout the world. SBE will remain onboard as the flagship property’s brand operator. The hotel’s ownership group included SBE, the Nazarian family and subsidiaries of SLS Hotels. Sunrider International is a family owned health and beauty company.

May 6, 2015

California Office Western

Pacific Center Office Building in Torrance Sells for $68.5M

by Nellie Day May 6, 2015

TORRANCE, CALIF. — Stream Realty Acquisition has purchased Pacific Center, a 291,711-square-foot office building in Torrance, for $68.5 million. The eight-story building is located at 21250 Hawthorne Blvd. Pacific Center is currently 80 percent leased. Notable tenants include All Nippon Airways, Living Social, Morgan Stanley, Bank of America and Wells Fargo Insurance. The seller, Bixby Land Company, purchased the asset in July 2012 for $52 million. At that time, the building – formerly known as South Bay Tower – was only 63 percent occupied. The building underwent significant renovations and a rebranding. Stream Realty represented itself in this transaction, while Bixby was represented by CBRE’s Kevin Shannon.

May 6, 2015

Newer Posts

Older Posts