SAN DIEGO — AMN Healthcare Services has renewed its lease for 175,000 square feet of office space in San Diego. The long-term lease renewal is valued at $120 million. The space is located at 12400 High Bluff Drive in Del Mar Heights. The healthcare workforce solutions and staffing services provider has resided at this Class A property since it was constructed in 2003. The company currently houses 800 employees at the center, with room to expand to 1,000 employees. AMN was represented by Douglas Lozier of Savills Studley’s San Diego office. The landlord was Kilroy Realty Corporation.
Western
DENVER – A venture managed by TruAmerica Multifamily has purchased a three-property multifamily portfolio in Colorado and Washington for $229 million. The portfolio contains a total of 1,514 units. The acquisition includes Berkshires at Lowry, located at 240 South Monaco Parkway in Denver; Ponderosa Villas at 1539 South Galena Way in Aurora, Colo.; and Carriages at Fairwood Downs, located at 15030 SE 179th Street in Renton, Wash. TruAmerica and its partners plan to spend between $25 million to $30 million renovating the properties, which were built in the 1970s and ‘80s. The seller, Berkshire Group, was represented by Kevin Geiger and Malcolm McComb of CBRE Capital Markets’ Institutional Properties. Other local CBRE personnel assisted with the Colorado and Washington transactions. CBRE Capital Markets’ Debt & Structured Finance team also secured a $168.8-million loan for the portfolio’s acquisition. The properties received fixed-rate, full-term, interest-only loans ranging from five to seven years.
LOS ANGELES – A trust has disposed of a four-building industrial portfolio that is valued at $5.7 million. The portfolio contains four properties in the Los Angeles area. The transaction includes 11801-11807, 11811 and 11821 Teale Street, along with 11918-11920 Jefferson Blvd. The seller was Richard J. Laski, who acted as a Trustee of the Kaman Estate. The buyer was not named. The trust was represented by Jack Whalen of Heger Industrial.
PORTLAND, ORE. — House Spirits Distillery has leased 14,000 square feet in Portland. The new new distillery and tasting room will be located at 68 SE Stark Street in the city’s Central Eastside Industrial District. The company will occupy the space once the custom build out is completed this November. House Spirits was represented by Cara Nolan of CBRE. The landlord, Harsch Investment Properties, was represented by Todd DeNeffe of Cascade Commercial Real Estate.
SURPRISE, ARIZ. — One Step Beyond has leased 11,800 square feet of space in Surprise. The two-building complex is located at 15527 & 15531 N. Reems Road. One Step Beyond moved into the first building in July. It plans to occupy the second building in March. Tyler Smith of Colliers International represented both One Step Beyond and the landlord, Reems and Greenway LLC, in this transaction.
SANTA CLARA, CALIF. – The San Francisco 49ers led the grand opening celebration for their new home, the $1.2-billion Levi’s Stadium in Santa Clara. The new 1.8-million-square-foot stadium is located at 4900 Marie P. DeBartolo Way. The 68,500-seat stadium will host its first sporting event Aug. 2. It is replacing Candlestick Park in San Francisco as the home of the 49ers. The Bay Area team played at that stadium for the past 43 years. Levi’s Stadium will also host the Pac-12 Conference’s annual Football Championship Game for at least the next three years. Levi’s Stadium was built by Turner/Devcon for the Santa Clara Stadium Authority. It was designed by HNTB. The new eco-friendly structure features a green roof with 544 solar panels that sits atop the suite tower on the stadium’s west side. It also contains three solar bridges that connect the main parking area to the stadium. These features will allow the stadium to be partially powered by solar energy. The goal, according to energy provider NRG, is to ultimately provide a net-zero energy use. The stadium was built to achieve LEED-Gold certification. It is the first stadium in the nation(that is home to a professional football team)to incorporate …
PASADENA, CALIF. – A private investor has purchased the Old Pasadena Collection, a mixed-use portfolio that contains two residential buildings and two retail buildings, for $42.6 million. The two residential buildings contain a total of 91 units at 22 West Green Street and 65 West Dayton Street. The two freestanding retail buildings are located at 60 and 70 West Green Street. All four of the properties are situated in the historic district of Old Town Pasadena. The 48-unit Palermo apartment community was built in 2003. It includes four ground-floor retail suites occupied by a paint-your-own-pottery store, a restaurant and a dance company. The 43-unit Messina apartment community was built in 2004. It has one ground-floor retail suite currently occupied by a tutoring and college-test-preparation business. This space also serves as the leasing office for both the Messina and Palermo. The former Green Street retail space is occupied by Design Within Reach, while the latter property is home to Gyu-Kaku, a Japanese barbecue restaurant. Both buildings were constructed with reinforced brick masonry in 1916 and 1921, respectively. Each contains 5,750 square feet of leasable space. The seller, a private party, was represented by Ron Harris, Paul Darrow and Michael DiSimone of …
PORTLAND, ORE. — Pearl West, the first speculative office building to be built in Portland since the recession, has received $41.7 million in permanent construction financing. The 146,500-square-foot building will be located on Irving Street and NW 14th in the Pearl District. The Class A building is scheduled to break ground tomorrow. It is slated for completion in early 2016. The building has already secured two unnamed tenants. Pearl West will be built by BPM Real Estate Group and designed by GBD Architects. Walter C. Bowen of BPM Real Estate Group is the developer, while BDC/NW Irving LLC is the borrower. The loan was secured by Ken Griggs and Paddy Ryan of NBS Financial Services. NBS represented the lender, Washington Capital Advisors, a pension fund advisor for labor unions.
BREA, CALIF. – Palisades Capital Realty Advisors has acquired a 121,143-square-foot office building in Brea for $21 million. The building is located at 2929 E. Imperial Highway. The property was built in 1985 and renovated in 2013. The office building is fully leased to companies like Zodiak Inflight Innovations and Underwriters Laboratories. The seller, a joint venture between Rialto Capital and the Koll Company, was represented by Bob Prendergast and Baker Morphy of JLL's Capital Markets.
SANTA ROSA, CALIF. — Luther Burbank Savings has named Jason Pendergist as its new Chief Lending Officer. Pendergist will oversee all of the bank’s commercial and consumer lending functions. The 12-year commercial and multifamily lending veteran previously served as managing director and head of the Eastern region for the commercial term lending business at JPMorgan Chase. Luther Burbank Savings has 10 California locations, including eight branches and two loan offices. The FDIC-insured, privately held savings association is based in Santa Rosa.