COMPTON, CALIF. — Topson Downs has leased 123,000 square feet of distribution space in the Dominguez Hills Industrial Park. The space is located at 2500 South Edison Way in Compton. The apparel manufacturer’s new facility also includes 10,000 square feet of office space. Topson Downs was represented by Mike Poyer of Capital Real Estate Advisors. The building’s owner, Prudential Real Estate Investors, was represented by Rooney Daschbach, Steve Bohannon, Rusty Smith, and Eric Daschbach of Cushman & Wakefield.
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LOS ANGELES – An 18-unit apartment community located at 2469 S. Robertson Blvd. in Los Angeles has sold to 6656 Fountain LLC for $2.29 million. The property was fully occupied at the time of closing. Michel Hibbert of Charles Dunn Company represented both the buyer and the seller, 2469 S. Robertson Associates, LP, in this transaction.
With 95 percent occupancy, the Orange County industrial market is shining through the clouds of what is still a semi-lethargic market in many areas. It’s well known that industrial real estate is a solid investment option that is safer than many other investment vehicles. Combine that with Orange County’s reputation as a place that people love to work and live, and it’s no surprise the county’s industrial market is successfully rebounding. Industrial buyers were not just cautious in 2008 and 2009, they were literally standing on the sidelines waiting for the game to resume. The trough of the market really hit in 2009, which was probably the lowest point anyone could have bought a building, but with values down 35 percent to 40 percent, deals just weren’t being made. Since mid-2010, however, the Orange County industrial market has seen a significant increase in activity as buyers put themselves back in the game. Sellers have become sellers again, and buyers are more realistic about getting deals done. orporate America recognized the trend early on and began making deals. From there, the competition has heated up on the Orange County industrial playing field, as numerous investors seek to acquire Class A and …
CHULA VISTA, CALIF. — Castle Park, an 87,103-square-foot, grocery-anchored shopping centerin the San Diego submarket of Chula Vista, has received $8.5 million in first-mortgage financing. Notable tenants at Castle Park include Save-A-Lot, Auto Zone, DD’s, Factory 2-U and Union Bank. The loan features a five-year term and a 25-year amortization schedule. Doug Austinof NorthMarq‘s San Diego regional officearranged the financing for Palomar Partners, PLthrough the firm’s relationship with Wells Fargo Bank.
WESTMINSTER, COLO. – The 52-unit Candlelight apartment community in Westminster has sold to a local buyer for $2,595,000. The community is located at 6985 Stuart Street. The property was marketed exclusively by Greg Price and Clayton Primm of Marcus & Millichap’s Denver office on behalf of the seller, a limited liability company.
HUNTINGTON BEACH, CALIF. – A 7,098-square-foot office building in Huntington Beach has sold to an unnamed buyer for $2,485,000. It is located at 9131 Adams Ave. The buyer was represented by Allen Basso of Lee & Associates. The seller was represented by David Romero of Lee & Associates and Bryan Lysne of Lee ISG in this transaction.
NEWARK, CALIF. – Four new stores are opening at the Newpark Mall in Newark. Three Kings barbershop has leased 1,550 square feet; The Humidor cigar shop has leased 1,297; Focus women’s shoe store has leased 2,349 square feet; and Sprouts children’s shoe store has leased 1,880 square feet.
SAN JOSE, CALIF. — PCCP, LLC and Hunter Storm Properties have formed a joint venture to acquire a 30-acre infill land parcel in San Jose. The JV immediately sold five of the acres at closing. It plans to use the balance for Village Oaks, a 320,000-square-foot retail development. Construction should commence on this project in the fourth quarter of 2012. It should be completed a year later. The parcel is located at Cottle Road and Highway 85.
SACRAMENTO, CALIF. – Colliers’ Sacramento office has gained five new brokers. They include Tom Walcott, Kris Reilly, Jason Rutherford, Scott Bennett and Ken Johnson. All five brokers were previously with Grubb & Ellis.
ANAHEIM, CALIF. — Gateway One Lending & Finance, LLC has signed an eight-year lease expansion for 41,148 square feet of office space in Anaheim. The office is located at 175 N. Riverview Drive. The property’s landlord is a joint venture of Greenlaw Partners and Walton Street Capital. The transaction was brokered by Chris Migliori of DAUM’s Orange County, Calif., office.