TORRANCE, CALIF. – Pacific Plaza, a 23,438-square-foot retail property in Torrance, has sold to Metro Properties for $10.6 million. The space is located at 2382, 2390 & 2396 Crenshaw Blvd. It was built in 1992. The space is fully occupied by tenants like Subway, H&R Block, The UPS Store and BB’s Beauty Nail & Spa. Metro Properties was represented by Jeremy S. McChesney of Hanley Investment Group. The seller, Holt Group, was represented by Patrick G. Kent and Kevin T. Fryman of the same firm.
SAN PEDRO, CALIF. – Regus has leased more than 15,000 square feet at Topaz in Downtown San Pedro. The Class A office tower is located at 222 West Sixth Street. The flexible workplaces provider will use this space as an expansion of its South Bay operations, which serve Long Beach, Palos Verdes and the 190th Street Corridor. Regus represented itself in this transaction, while the landlord, Jupiter Holdings, was represented by CBRE’s Tim Vaughan, Dave Smith and Mike Harry.
IRVINE, CALIF. – Citadel Servicing Corporation has leased 14,588 square feet at the Irvine Spectrum Office Plaza. The plaza is located at 15707 Rockfield in Irvine. It is currently 58 percent leased. This renewal and expansion nearly tripled Citadel’s original space at this location. The new lease runs through 2018. The non-qualified mortgage products provider was represented by Oliver Fleener of PM Realty Group. The landlord, PRES Companies, was represented by its own Adam Espinoza.
EL SEGUNDO, CALIF. – Radiology Partners has leased 12,443 square feet of office space in El Segundo. The space is located at 2101 El Segundo Blvd. It was previously occupied by Raytheon Space and Airborne Systems. The integrated radiology practice management company plans to occupy the space next month. It is expanding from its 5,000-square-foot space, which is also in El Segundo. Radiology Partners was represented by Jacob Bobek of Avison Young’s Downtown Los Angeles office. The landlord, Bixby Land Company, was represented by CBRE.
ROSEVILLE, CALIF. — SyRES Properties has acquired the 465-unit Rosemeade at Olympus Pointe apartment complex for an undisclosed sum. The community is located at 1451 Rocky Ridge Drive. Rosemeade at Olympus Pointe was built in 1992. The transaction is the largest multifamily deal ever in the Sacramento region, according to CBRE, which represented the seller, the ConAm Group and an institutional client advised by CenterSquare Investment Management. Reports put the deal valued at more than $70 million. The ConAm Group ultimately re-capitalized the deal, partnering with SyRES Properties, a subsidiary of Syufy Enterprises. This is SyRES Properties’ first multifamily acquisition. The seller was represented by CBRE’s Marc Ross, William Blucher, Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch.
SAN FRANCISCO – A global investment manager has purchased a 75,523-square-foot creative office property for $48.2 million. The transit-oriented building is located at 1019 Market Street. The space is situated within one block of the Civic Center and Power Street BART/Muni subway stations. It is within two blocks of the future Central Subway project, which will provide access to Caltrain with connections to the Peninsula and Silicon Valley. The building was originally constructed in 1909. It was completely redeveloped in 2013. The space is fully leased to cloud-based customer service firm Zendesk. There is also a small ground-floor, triple-net retail tenant that’s signed on for 10 years. The seller, a joint venture between certain affiliates of Westport Capital Partners LLC and Cannae Partners LLC, was represented by HFF’s Steven Golubchik, Nicholas Bicardo, John Simerlein, Nathan Blair and Josh DiSalle.
LOS ANGELES – Manning & Kass, Ellrod, Ramirez, Trester LLP has renewed its lease for 80,328 square feet of office space in Downtown Los Angeles. The space is located at 801 S. Figueroa Street. The law firm has used the Class A tower as its corporate headquarters since 2006. It occupied floors 12 through 16. This transaction included a restructure of the firm’s existing commitment, as well as a long-term lease extension.
WALNUT CREEK, CALIF. – TIAA-CREF has acquired the 184-unit Park Lake Apartments in Walnut Creek for an undisclosed sum. The community is located at 100 Park Lake Circle. Community amenities include a heated swimming pool and spa, fitness center and assigned covered parking. The seller, Carmel Partners, was represented by HFF’s Nathan Blair, Adam Simon and Michael McDermott.
DENVER – The 62-room Quality Inn – Denver Tech Center in Centennial has sold to a private investor for $2.6 million. The hotel is located at 9799 E. Geddes Ave. Neville Rustomjee of Marcus & Millichap’s Denver office represented the seller, a limited liability company, in this transaction
NORWALK, CALIF. — Norwalk Plaza, a 59,736-square-foot retail property, has received a $5-million mortgage. The property is located at 11660-11790 Firestone Blvd. in Norwalk. The loan features a five-year term and 30-year amortization schedule. Financing was arranged by Michael T. Elmore and Ory Schwartz of NorthMarq Capital’s Los Angeles regional office. It was arranged for a Los Angeles-based private investor through the firm’s correspondent relationship with a life insurance company.
