ENCINITAS, CALIF. — Westcore Properties has purchased a 37,398-square-foot office building in Encinitas for $6.8 million. The building is fully leased to tenants like Scripps Health and St. Katherine’s College. Westcore was represented by Joe Anderson and Rick Reeder of Cassidy Turley. The seller, HBTFT, LLC, was represented by Strom Commercial.
Western
LONG BEACH, CALIF. – A six-property, 52-unit multifamily portfolio in Long Beach has sold to Riva Investments, Keely Partners and Jehan Shahid for $4,935,000. The bank-owned REO portfolio contains four properties that were fully occupied at the time of sale. All six properties were well maintained and recently upgraded. The portfolio includes the eight-unit 1352 Molino Ave.; the 12-unit 1765 Cedar Ave.; the six-unit 630 Nebraska Ave.; the 10-unit 761 Rose Ave.; the eight-unit 924 Gaviota Ave.; and the eight-unit 222 East Market. The seller, CRE LJ CA LLC, a Delaware limited liability company c/o OneWest Bank, FSB of Pasadena, Calif., was represented by Robert Stepp, Dean Zander and Vince Norris of Hendricks & Partners’ West Los Angeles office.
CHATSWORTH, CALIF. — Earthly Body has purchased a 39,995-square-foot industrial property in Chatsworth for $3.8 million. The company plans to grow its business from three units totaling about 18,000 square feet to the single building. The property is located at 21900-21910 Plummer Street. Earthly Body was represented by John DeGrinis, Patrick DuRoss and Jeff Abraham of Colliers International’s Encino office. The seller, David Shoshan, was represented by Brock Burnett and Jeff Gould, also of the firm’s Encino office, along with DeGrinis, DuRoss and Abraham.
TORRANCE, CALIF. — Hi-Shear Technology Corporation has signed a lease extension for a 75,616-square-foot industrial facility in Torrance. The company utilizes this space at 24225 Garnier Street for its headquarters. It has resided at the building for seven years. Hi-Shear was represented by Adam Deierling of Colliers International. The landlord, Westamerica Corp., was represented by Todd Taugner, Frank Schulz and David Prior of Klabin Company/CORFAC International.
LOS ANGELES — La Mancha/Cal-Asia Development Company has been named 7-Eleven’s preferred developer in the Southern California region. The convenience store has hired La Mancha to build 150 stores over the next three years. The company will target locations from San Luis Obispo to San Diego, and from Santa Monica to the Inland Empire and even Las Vegas. La Mancha is looking primarily for ground-up opportunities for build-to-suits, as well as both C-store and liquor store conversions. It is also looking for straight leasehold interests for free-standing stores, gasoline stores or end caps in multi-tenant centers. La Mancha/Cal-Asia will work in tandem with 7-Eleven’s real estate team.
COMMERCE, CALIF. — Chameleon Beverage Companyhas leased 134,400 square feet of industrial space in Commerce. The company will utilize the space at 6444 26th Street for its corporate headquarters. Chameleon was represented by Corey Spoundand Zac Sakowski of Jones Lang LaSalle Los Angelesin this transaction.
LOS ANGELES – The Metropolitan Community Church of Los Angeles (MCCLA) has purchased a new building at 4607 and 4609 Prospect Ave. in the Los Angeles submarket of Los Feliz. This $1.63-million, 18,900-square-foot acquisition will allow the church to expand three-fold. It includes a 350-seat sanctuary, small theater, chapel, banquet hall with a commercial kitchen, offices, classrooms and conference rooms. MCCLA, which was founded in 1968, will be relocating from nearby 4953 Franklin Ave. It plans to undertake extensive improvements at the property. MCCLA was represented by Dennis Herzig of Lee & Associates-LA North/Ventura. The seller, Mount Hollywood Congregational Church (United Church of Christ), was represented by Carl Whidden. It currently leases space at the facility and will continue to hold services on-site for the next three years.
DENVER – The 170-unit Columbine Towers has sold to Agin Family Investments for $8.75 million. This Section 8 apartment community was fully occupied at the time of sale. JB Hochman of Pinnacle Real Estate Advisors represented both the buyer and the seller in this transaction.
DENVER – The Bascom Company has purchased the Hyland Park Centre Apartments in Denver for an undisclosed sum. The company plans to execute a $5-million renovation at the property, which is located at 1800 West 85th Ave. Bascom was represented by Tim Shunta of Unique Properties. The property was purchased from the Colorado Finance and Housing Authority.
LOS ANGELES – The 24-unit Eagle Rock Apartments in Los Angeles has sold to a private investor for $2.4 million. The property was built in 1987 at 1502 El Paso Drive. Tony Azzi of Marcus & Millichap’s West Los Angeles office represented both the buyer and the seller, another private investor, in this transaction.