LOS ANGELES — Hager Pacific Properties has recently secured three leases at two of its Los Angeles-area industrial properties. The leases encompass 256,093 square feet of space and boast a total value of $6.8 million. Cosmetic Enterprises has signed a six-year lease renewal valued at about $4.5 million for 110,000 square feet at Pacoima Industrial Park in Pacoima, Calif.; Natural Balance has signed a three-year lease for an expanded 60,000-square-foot space at Pacoima Industrial Park valued at about $1.2 million; and CA Liquidators signed a three-year lease with a five-year option to extend for 86,093 square feet at Hager’s 7344 Bandini Blvd. facility in the City of Commerce, Calif.
Western
SAN DIEGO — Voit Real Estate Services has sold a 24,000-square-foot industrial flex property in the Rancho Bernardo submarket of San Diego to Swinerton Incorporated for $2.6 million. Swinerton will move its San Diego headquarters to the new building, which is located at 16798 West Bernardo Drive. Voit’s Paul Brown represented Swinerton, while Brian Mulvaney and Bruce Sanders, also of Voit, represented the seller, DBA, West Bernardo Office Partners, LLC.
IRVINE, CALIF. — Voluspa has signed a five-year lease for 84,816 square feet of space at an industrial building in Irvine. Located at 2900 McCabe Way, the building received four viable offers within its first 45 days on the market, according to Kevin Turner, senior vice president in Voit’s Irvine office. Turner, along with Michael Hartel, also of Voit, represented the landlord, Crown Associates Realty, in the transaction. The lease is valued at $2.96 million.
LAKEWOOD, COLO. – A 48-unit apartment complex located at 1700-1790 Kendall Street in Lakewood was sold to a local non-profit organization for $2,673,000. The organization funded the transaction through the Neighborhood Stabilization Program (NSP2). It also plans to make significant capital improvements to the property to provide an attractive affordable housing option for low-income families. Joe Hornstein of Pinnacle Real Estate Advisors assisted both the buyer and the seller, a private lender, in this transaction.
CORONA, CALIF. – Wermers Multi-Family Corporation has commenced construction on the 404-unit North Main Apartments in Corona. The architect is Architects Orange and the engineer of record is Fuscoe Engineering. Construction will begin with work underground and on the foundations. North Main Apartments is expected to open in spring 2012.
CORONA, CALIF. — Cassidy Turley BRE Commercial has arranged a $17.1-million loan for Eagle Glen Plaza in Corona. Located at the northwest corner of Interstate 15 and Eagle Glen Parkway, the 95,777-square-foot shopping center is anchored by Stater Bros. and is currently fully occupied. Goldman Sachs Commercial Mortgage Capital provided the borrower with a five-year, fixed rate, non-recourse loan that featured a 4.8 percent interest rate. Financing was arranged by Gary Goss of Cassidy’s Capital Markets Group. Thursday’s WREB e-newsletter incorrectly stated that Cassidy Turley BRE had sold Eagle Glen Plaza. We regret the error.
FONTANA, CALIF. — Overton Moore Properties has purchased an 18-acre site near Elm and Poplar Avenues in Fontana. OMP plans to build a single-tenant, 454,000-square-foot, Class A industrial building on the site that will be called OMP Fontana Distribution Center. This project is a joint venture with LaSalle Investment Management. Colliers’ Josh Hayes, Tom Taylor and Steven Bellitti represented both the buyer and the seller, Hanson Roof Tile Company, in this transaction. The project’s architect is HPA Architects.
UNION CITY, CALIF. — Rich Products Corporation has signed a long-term lease at the Willowbrook Business Center in Union City. The 15-year lease includes about 185,500 square feet situated on 9.5 acres. The food service company will be relocating from its current facility in South San Francisco. Rich Products intends to use this new space as one of its primary manufacturing and distribution hubs. CBRE’s Mark Kol and David Black represented Rich Products. Greig Lagomarsino and Rick Keely from Colliers’ Oakland office represented Willowbrook’s landlord, Young’s Holdings.
LOS ANGELES – Avison Young, a Canadian commercial real estate firm, has opened its eighth U.S.-based office. The new office, which is part of Avison’s growth and expansion strategy, is temporarily located at 1100 Glendon Ave in Los Angeles. Neil Resnick has joined Avison as a principal to oversee the new office’s Southern California operations. Matthew Wallace and Maryl Ong have also joined the Los Angeles office as director and marketing coordinator, respectively
WALNUT CREEK, CALIF. — Marcus & Millichap Real Estate Investment Services has sold 2150 North Broadway, a 27,796-square-foot big box fitness facility located in Walnut Creek, for $3 million. Kevin Turner and Michael Cisternino of M&M’s Oakland, Calif., office worked with Brandon Geraldo of the firm’s San Francisco office to market the property exclusively on behalf of the seller, a partnership.