LA JOLLA, CALIF. — In Eden, a 17-unit apartment building in La Jolla, has sold to an unnamed buyer for $8.9 million. The community is located at 600-616 Prospect Street. The seller, a limited liability company, was represented by Aaron Bove and Ben Tashakorian of Marcus & Millichap’s San Diego office. The buyer was represented by Dave Plutner of DP Properties.
Western
TORRANCE, CALIF. – Hawthorne Promenade, a 7,440-square-foot retail property in Torrance, has sold to Ron B. Tucker for $5 million. It is located at 20016 Hawthorne Blvd. The property is fully occupied by tenants like Trader Joe’s, Ross, Marshalls, Party City, Sears Outlet, David’s Bridal, Payless Shoes, Babies-R-Us, Office Depot and In-N-Out Burger. The seller, Hawthorne Promenade LLC, a subsidiary of Arenda Capital Management, LLC, was represented by Peter J. Lund and Scott Crane of NAI Capital’s West Los Angeles office.
GOODYEAR, ARIZ. – The 69-unit Greenwood Apartments in Goodyear has sold to Neil Sechan and Mathew Messner for $3.4 million. The community is located at 1322 N. La Jolla Blvd. The seller, Park Shadows Country Homes, was represented by Brian Smuckler and Jeff Seaman of CBRE’s Phoenix office.
LOS ANGELES — A Southern California-based retail portfolio that is known as the DJM Retail Portfolio has received $60 million in mezzanine financing. The funds will be used to refinance and recapitalize the four-property, 962,000-square-foot portfolio, which mostly consists of grocery-anchored retail properties in Torrance, Lakewood, La Habra and Ventura. The portfolio has a 96 percent occupancy rate. The funds were provided by HFF’s Bryan Ley, John Crump, Michael Leggett and Peter Smyslowski on behalf of DJM Capital Partners.
SAN CLEMENTE, CALIF. — Oceanview Medical Center in San Clemente has sold to Accretive Realty Advisors for an undisclosed sum. The campus contains a 30,913-square-foot medical office building that is situated across from the San Clemente campus of Saddleback Memorial Medical Center. The center is anchored by MemorialCare Health, which houses several affiliated practice groups. Accretive Realty represented itself in this transaction, while the unnamed seller was represented by Evan Kovac, Garth Hogan, Chris Stai and Kyle Kovac of Newmark Grubb Knight Frank's Global Healthcare Services Group. Hogan, along with John Scruggs, will serve as Accretive’s exclusive leasing agents.
BALDWIN PARK, CALIF. — NewMark Merrill Cos. and a New York-based real estate partner has begun the $2.5 million redevelopment of Park Plaza on Maine, a 165,000-square-foot retail center in Baldwin Park. The property was built in 1989 as part of an agreement with the City of Baldwin Park's redevelopment agency. Superior Grocers and CVS/pharmacy anchor the center, which includes other tenants such as Chase Bank, Little Caesers and O'Reilly Auto Parts. All of the stores are remaining open during the construction. Park Plaza on Maine will be upgraded with modern facades, monument signage, outdoor seating and a new water feature. The redevelopment will also make room for more street-front retailers along Maine Avenue and Ramona Boulevard. Luca Giovanardi of NewMark Merrill Cos. is overseeing the project.
LOS ANGELES — A Southern California-based retail portfolio that is known as the DJM Retail Portfolio has received $60 million in mezzanine financing. The funds will be used to refinance and recapitalize the four-property, 962,000-square-foot portfolio, which mostly consists of grocery-anchored retail properties in Torrance, Lakewood, La Habra and Ventura. The portfolio has a 96 percent occupancy rate. The funds were provided by HFF’s Bryan Ley, John Crump, Michael Leggett and Peter Smyslowski on behalf of DJM Capital Partners.
SAN CLEMENTE, CALIF. — Oceanview Medical Center in San Clemente has sold to Accretive Realty Advisors for an undisclosed sum. The campus contains a 30,913-square-foot medical office building that is situated across from the San Clemente campus of Saddleback Memorial Medical Center. The center is anchored by MemorialCare Health, which houses several affiliated practice groups. Accretive Realty represented itself in this transaction, while the unnamed seller was represented by Evan Kovac, Garth Hogan, Chris Stai and Kyle Kovac of Newmark Grubb Knight Frank's Global Healthcare Services Group. Hogan, along with John Scruggs, will serve as Accretive’s exclusive leasing agents.
BALDWIN PARK, CALIF. — NewMark Merrill Cos. and a New York-based real estate partner has begun the $2.5 million redevelopment of Park Plaza on Maine, a 165,000-square-foot retail center in Baldwin Park. The property was built in 1989 as part of an agreement with the City of Baldwin Park's redevelopment agency. Superior Grocers and CVS/pharmacy anchor the center, which includes other tenants such as Chase Bank, Little Caesers and O'Reilly Auto Parts. All of the stores are remaining open during the construction. Park Plaza on Maine will be upgraded with modern facades, monument signage, outdoor seating and a new water feature. The redevelopment will also make room for more street-front retailers along Maine Avenue and Ramona Boulevard. Luca Giovanardi of NewMark Merrill Cos. is overseeing the project.
SAN DIEGO — The Uptown District Shopping Center, a 148,638-square-foot, mixed-use retail center in San Diego, has sold to Regency Centers Corporation for $81.1 million. It is located at 940 University Ave. in the city’s Hillcrest neighborhood. Notable tenants at the center include Ralphs, Trader Joe’s, Wells Fargo, Panera Bread and Starbucks. The sale was executed by the Mansour Group of Marcus & Millichap.