YORBA LINDA, CALIF. – A 34,972-square-foot, multi-use building in Yorba Linda has sold to BSKO, LLC for $3.8 million. The property is located at 22895 Eastpark Drive within the master-planned community of Savi Ranch. The space will serve as BSKO’s new headquarters. The company was represented by Seth Davenport of Voit Real Estate Services. The seller, Eastpark Drive LLC, was represented by Zach Niles, Garrett McClellandand Steve Wagnerof Jones Lang LaSalle Orange County.
Western
OCEANSIDE, CALIF. – A 45,000-square-foot industrial property in Oceanside has sold to Precision One Ventures for $3.9 million. The property is located at 3923 Oceanic Drive. Precision One will occupy about 70 percent of the building. A new tenant signed a lease for the balance of the property during the transaction. Precision One was represented by Greg Pieratt and David Howard of Lee & Associates’ North San Diego County office.
SAN FRANCISCO — Brad Lagomarsino and James Devincenti have joined Colliers’ San Francisco office. The pair previously served respectively as vice president of investments and senior vice president of investments with Marcus & Millichap. Lagomarsino and Devincenti sold 68 buildings in the San Francisco area totalling $339 million last year alone.
YORBA LINDA, CALIF. – A 34,972-square-foot, multi-use building in Yorba Linda has sold to BSKO, LLC for $3.8 million. The property is located at 22895 Eastpark Drive within the master-planned community of Savi Ranch. The space will serve as BSKO’s new headquarters. The company was represented by Seth Davenport of Voit Real Estate Services. The seller, Eastpark Drive LLC, was represented by Zach Niles, Garrett McClellandand Steve Wagnerof Jones Lang LaSalle Orange County.
OCEANSIDE, CALIF. – A 45,000-square-foot industrial property in Oceanside has sold to Precision One Ventures for $3.9 million. The property is located at 3923 Oceanic Drive. Precision One will occupy about 70 percent of the building. A new tenant signed a lease for the balance of the property during the transaction. Precision One was represented by Greg Pieratt and David Howard of Lee & Associates’ North San Diego County office.
SAN FRANCISCO — Boston Properties has purchased a development site at 535 Mission Street in San Francisco for $71 million. It plans to erect a $215-million, Class A office tower on the site. Construction is scheduled to commence in mid-February, with completion set for fall 2014. The 27-story tower will strive for a LEED-Gold rating. It will also contain some retail space. Boston Properties has also agreed to purchase the last remaining land parcel inside the city’s Reston Town Center for $27 million. The parcel is zoned for 250,000 square feet of office space. Boston Properties is looking into potential mixed-use opportunities on this site. This sale is expected to close in the first quarter of 2013.
DENVER — JCR Capital and CapRock Partners have formed a $35-million equity joint venture to acquire industrial REO and distressed loans that are secured by industrial properties in California. The venture’s first acquisition was a 90,000-square-foot industrial property in Melrose Park Industrial Park in Placentia. The property will be financed through the JCR Commercial Real Estate Finance Fund II, L.P. and Soundview Real Estate Partners. This is the third joint venture facility between Denver-based JCR Capital and Irvine, Calif.-based CapRock Partners.
TRACY CALIF. – The Tracy Pavilion Shopping Center has sold to Excel Trust for $32 million. The 404,721-square-footcommunity shopping center is located on Naglee Road in Tracy, which is just east of San Francisco. The center is anchored by Home Depot, WinCo, Marshalls, Ross Dress for Less, PetsMart and Staples. Home Depot and WinCo are both tenant-owned and were not part of the sale. Ulta, Anna’s Linens, Chase Bank, Rubio’s, Panda Express, Starbucks, Supercuts, UPS and Subway also reside at the center. Lucescu Realty represented both the buyer and the multiple selling entities in this transaction. Tracy Pavilion was developed by affiliates of Kornwasser Shopping Center Properties in 2002.
MONTECITO, CALIF. – A 13,778-square-foot retail property in Montecito has sold to a local investor for $10.2 million. The property is located at 1046-1054 Coast Village Road. The fully leased center boasts a tenant roster that includes Starbucks, Von’s Pharmacy, Blenders In the Glass, Boutique Antoinette and Occhiali Fine Eyewear. The buyer was represented by Austin Herlihy and Steve Brown of Radius Group. The private seller was represented by Clarice Clarke of Lee & Associates – Central Coast.
SAN FRANCISCO — Boston Properties has purchased a development site at 535 Mission Street in San Francisco for $71 million. It plans to erect a $215-million, Class A office tower on the site. Construction is scheduled to commence in mid-February, with completion set for fall 2014. The 27-story tower will strive for a LEED-Gold rating. It will also contain some retail space. Boston Properties has also agreed to purchase the last remaining land parcel inside the city’s Reston Town Center for $27 million. The parcel is zoned for 250,000 square feet of office space. Boston Properties is looking into potential mixed-use opportunities on this site. This sale is expected to close in the first quarter of 2013.