Western

Agoura Hills Shopping Center Sells for $5.6M

by Nellie Day January 23, 2015

LOS ANGELES – A 19,481-square-foot retail property in the Los Angeles submarket of Agoura Hills, has sold to GJD Holdings for $5.6 million. The center is located at 29020 Agoura Road. It was built in 1991. The property is part of an even larger 82,226-square-foot retail center. Tenants at the recently sold center include Prime Steakhouse and Teague Pilates. GJD was represented by Rod Delson of NAI Capital’s Westlake Village office. The seller, Agoura Hills Shopping Center Capital LLC, was represented by Ken Simons of the same firm.

January 23, 2015

California Office Western

Mission Bay View Office Building Sells for $3M

by Nellie Day January 23, 2015

SAN DIEGO – An 11,390-square-foot-office building in the San Diego submarket of Mission Bay has sold to JWJ Properties One LLC for $3 million. The two-story building is located at 2437 Morena Blvd. It was recently renovated as creative office space. JWJ was represented by Craig Sanders of C. E. Sanders & Company. The seller, SDH Fund 1, LLC, dba SD Homes, was represented by Marc Posthumus of Colliers International.

January 23, 2015

California Loans Multifamily Seniors Housing Western

Thunderbird Retirement Resort in Glendale Receives $21.2M Loan

by Nellie Day January 22, 2015

GLENDALE, ARIZ. – The 345-unit Thunderbird Retirement Resort in Glendale has received $21.2 million in financing. The seniors housing community is located at 5401 West Dailey Street. The fixed-rate, non-recourse loan was provided to ROC Seniors for the acquisition of the community. It features a three-year term with two, one-year extensions. The initial term is interest-only, with amortization beginning in the extensions. The loan includes about $5 million for renovations and repurposing. Financing was originated by Richard Thomas and Meredith Davis of the Seniors Housing and Healthcare Finance team at Grandbridge Real Estate Capital. It was provided through BB&T Real Estate Funding’s Structured Loan Program.

January 22, 2015

California Retail Western

Ramon Plaza Near Riverside Sells for $9.1M

by Nellie Day January 22, 2015

RIVERSIDE, CALIF. – Ramon Plaza, a 70,131-square-foot retail property in the Riverside submarket of Cathedral City, has sold to an unnamed buyer for $9.1 million. The property is located at 68100 Ramon Road. It contains three buildings that feature a mix of medical, retail and office uses. The seller, a private investor, was represented by Pablo Rodriguez and Richard Vincent of Marcus & Millichap’s Ontario office.

January 22, 2015

California Office Western

San Diego Office Building Sells for $3.4M

by Nellie Day January 22, 2015

SAN DIEGO – A 27,648-square-foot office building in San Diego has sold to Activity MOB LLC for $3.4 million. The building is located at 8901 Activity Road. The facility underwent improvements about 20 years ago when it was occupied by Sharp Rees Stealy’s Urgent Care, in addition to other medical office users. The seller, GTF Properties, was represented by Brandon Keith of Voit Real Estate Services’ San Diego office. Activity MOB is affiliated with Oasis Medical Center, which is operated by Dr. James and David Chao.

January 22, 2015

California Multifamily Western

Apartment Building in Orange Sells for $2.9M

by Nellie Day January 22, 2015

ORANGE, CALIF. – A 12-unit apartment building in Orange has sold to Miracle Manor LLC for $2.9 million. The community is located at 323-333 S. Flower Street. It was built in 1977. The seller was a partnership that had owned the property since 1996. The transaction was executed by Berkadia’s Steven C. Brombal, Peter M. Hauser and Shane Shafer.

January 22, 2015

California Industrial Western

Engineered Floors Leases Fullerton Industrial Building

by Nellie Day January 22, 2015

FULLERTON, CALIF. – Engineered Floors has leased a 127,375-square-foot industrial building in Fullerton. The lease is valued at $3.2 million. The building is located at 675-679 Placentia Ave. Engineered Floors was represented by John P. Eddy and Tyler Rollema of Coldwell Banker Commercial BLAIR WESTMAC. The landlord, BB&K/Fullerton Industrial Properties, was represented by Mike Hefner and Mike Vernick of Voit Real Estate Services.

January 22, 2015

California Office Western

De Haro Place in San Francisco Sells for $92.7M

by Nellie Day January 21, 2015

SAN FRANCISCO — ASB Capital Management has acquired De Haro Place, a 138,430-square-foot creative office building in San Francisco, for $92.7 million. The building is located at 488 De Haro Street in the South of Market (SoMa) neighborhood. De Haro Place was originally built in 1927. The Class A building was completely transformed and renovated in 2013 to create a work environment that targeted technology and creative users. The seller, Ares Management, was represented by DTZ’s Robert Gilley and Steve Hermann.

January 21, 2015

California Multifamily Western

Condominium Development in Downtown LA Receives $77M in Financing

by Nellie Day January 21, 2015

LOS ANGELES — A new condominium project in Downtown Los Angeles has received $77 million in financing. The 151-unit community will be located at 1050 S. Grand. This will be the first new condominium tower development in Downtown in more than seven years, according to the developer, JLL’s Capital Markets team, which secured the financing. The property is being developed by Trumark Urban. The tower will also feature seven levels of parking and 5,672 square feet of ground floor retail space. The non-recourse construction financing was arranged by JLL’s John Manning, Chris Casey, Reid McGlamery and Alex Witt. It was provided by PCCP. This is the fourth major closing from JLL on behalf of Trumark, totaling $460 million of placed capital over the past two years.

January 21, 2015

California Retail Western

Girard Plaza, Ralph Lauren Building in La Jolla Sell for $26.5M

by Nellie Day January 21, 2015

SAN DIEGO – Girard Plaza and the Ralph Lauren building in La Jolla have sold to RCB Ranch for a total of $26.5 million. The buildings are located at 7833-7851 Girard Ave. and 7830 Girard Ave., respectively. Girard Plaza was originally built in 1950. Tenants include Banana Republic, Lululemon Athletica, Gap, Girard Gourmet and Kore Pilates. The Ralph Lauren building was also built in 1950. It has been continuously occupied by Ralph Lauren since the early 1990s. RCB was represented by Sean Doyle of Mexico Retail Advisors. The seller, Pogapana, was represented by Brian Quinn of Flocke & Avoyer Commercial Real Estate.

January 21, 2015

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