LOS ANGELES — DLJ Real Estate Capital Partners has acquired the 10-unit Thornton Lofts in the Los Angeles submarket of Venice Beach for an undisclosed sum. The live-work community is located at 619 and 701 Ocean Front Walk. It was built in 2008.
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REDLANDS, CALIF. – Amazon has announced it will open a fifth California fulfillment center in Redlands. The 704,115-square-foot facility will join existing California fulfillment centers in San Bernardino, Moreno Valley, Patterson and Tracy. Once complete, the online retailer will have expanded its presence in California to 2 million square feet. “We are proud to be hiring for more than 2,500 full-time jobs in California that offer wages 30 percent higher than traditional retail stores and include comprehensive benefits on day one, bonuses and stock awards,” says Mike Roth, Amazon’s vice president of North America operations. “We have found great talent in the state and we’re excited to be growing quickly to serve our customers.” The new center will be used to pick, pack and ship large items, such as big-screen televisions and kayaks. The landlord, Clarion Partners, was represented by JLL’s Ruben Goodsell, Peter McWilliams, Mike McCrary and Nicole Welch. Trammell Crow Company will manage the construction.
SANTA CLARA, CALIF. –Newmark Grubb Knight Frank (NGKF) has acquired Cornish & Carey Commercial, a commercial real estate brokerage firm in Northern California. NGKF initially established a partnership with Cornish & Carey in 2010. NGKF was acquired by BGC Partners in 2011. Cornish & Carey maintains 12 offices throughout Northern California, including Palo Alto, Sacramento, San Francisco, Santa Rosa and its headquarters in Santa Clara. Chuck Seufferlein, Cornish & Carey’s president and CEO, has been named president of NGKF's Western Region. Seufferlein will work closely with Barry M. Gosin, NGKF’s CEO.
NAPA, CALIF. — Lowenberg Corp. has acquired Napa Valley Crossroads, a 313,812-square-foot industrial property in Napa for an undisclosed sum. The two-building property is located at 21 and 37 Executive Way. It is situated near the intersection of highways 12 and 29, about seven miles west of I-80. Napa Valley Crossroads was built in two phases that commenced in 2005 and 2008. The facility caters to the Napa Valley wine industry. Notable tenants at the facility include Collotype Labels and Sutter Home Winery. Both leases were negotiated by Glen Dowling of Cushman & Wakefield. Dowling also represented both Lowenberg and the seller, Live Oak Equities LLC, in the sales transaction. He worked in conjunction with Chris Neeb and Matt Bracco of the same firm.
OCEANSIDE, CALIF. – Presidio Cornerstone Master LLC has acquired a 28-acre parcel of land in Oceanside for $25 million. The property is located on the northwest corner of College Avenue and Old Grove Road within the master-planned community of Rancho Del Oro. The land has been approved for the development of Terraza, a 338-unit luxury apartment community. The units will range from one-bedroom, one-bath, to three-bedrooms, two-baths. Gunder Creager, David Santistevan and Ciara Layne-Trujillo of Colliers International represented both the buyer and the seller, RDO Village Investment LLC, in this transaction.
LITTLETON, COLO. — Phillips Edison-ARC Grocery Center REIT II has acquired Kipling Marketplace, a 90,124-square-foot shopping center in Littleton, for an undisclosed sum. The center is located at 5005 – 5075 South Kipling Street. Kipling Marketplace is anchored by Safeway. Other notable tenants include Sylvan Learning, Dairy Queen, Cost Cutters and H&R Block.
SAN DIEGO – A 22,000-square-foot property in San Diego that is triple-net leased to Rite Aid Pharmacy has sold to an unnamed buyer for $7.1 million. The building is located at 13167 Black Mountain Road in the Rancho Penasquitos neighborhood. It sits adjacent to a Vons-anchored shopping center. The private seller was represented by CBRE’s Ian Schroeder and Maurice Nieman.
DENVER – A 41-unit apartment building in Denver has sold to 2920 W 32nd LLC for $4.1 million. The community is located at 2920 West 32nd Ave. It was built in 1963. The LLC plans to renovate the property to capitalize on the strong rental market in central Denver. It was represented by Jim Knowlton of Pinnacle Real Estate Advisors. The seller, RHSW LLC, was represented by the Calame Lewallen Team of the same firm.
CHINO, CALIF. — Clark’s Nutrition and Natural Food Market has signed on to lease 46,134 square feet at Mountain Village Plaza in Chino. It will serve as the plaza’s anchor. Mountain Village is located at 12835 Mountain Ave. Other notable tenants at the plaza include Fitness 19, Starbucks, Round Table Pizza and Mobil Oil. Clark’s Nutrition is scheduled to open this fall. Brad Umansky and Paul Galmarini of Progressive Real Estate Partners represented both the landlord and Clark’s Nutrition in this transaction.
PHOENIX — Anixter International has leased 63,000 square feet of space at Airport I-10 Business Park in Phoenix. The global distributor of enterprise cabling and security solutions will occupy almost half of the park’s “Building E.” The business park is located at the northwest corner of 24th Street and Rio Salado. Airport I-10 Business Park is the last large, developable parcel remaining in the Sky Harbor International Airport submarket. It is one of the largest speculative industrial developments in Phoenix’s Sky Harbor Airport-area. Building E’s shell is expected to be complete in the next few months. Anixter was represented by CBRE’s John Werstler, Jerry McCormick and Cooper Fratt. The landlord, Wentworth Property Company/Clarion Partners, was represented by JLL’s Pat Harlan, Steve Sayre and Kyle Westfall.