CORONADO, CALIF. — CBRE has brokered the $40 million sale of Coronado Plaza, a 41,949-square-foot retail center in Coronado. Built in 1981, the three-story property is situated across from the Hotel Del Coronado. Reg Kobzi, Joel Wilson and Michael Peterson of CBRE’s San Diego office represented the seller, an entity doing business as PREF Coronado Plaza LLC, in the transaction.
SAN BERNARDINO, CALIF. — 79 Lotus Apts, LLC acquired a multifamily portfolio in San Bernardino’s South Pointe neighborhood for $12 million. San Bernardino is located 60 miles east of Los Angeles. The portfolio comprises 79 units across three properties, including: Lotus, a 19-unit property; Steel Park Manor, a 32-unit property; and Wier Park, a 28-unit property. Units come in one- and two-bedroom floorplans. CBRE’s Eric Chen represented both the buyer and the undisclosed sellers in the transaction.
FONTANA, CALIF. — Progressive Real Estate Partners has arranged the $6 million sale of South Sierra Plaza, a 17,250-square-foot strip retail center located in Fontana. Comprising 12 units, the property was 93 percent leased at the time of sale to tenants including a dentist, nail salon, Armed Forces career center, staffing agency, Japanese restaurant and Peruvian restaurant. Brad Umansky and Lance Mordachini of Progressive represented the seller, a private Los Angeles-based investor, in the transaction. Paul Galmarini and Albert Lopez, also of Progressive, handled leasing at the property prior to the sale. Cameron Diab of D & Z Properties represented the buyer, another Los Angeles-based private investor.
COSTA MESA, CALIF. — A group of local Hyundai dealerships have leased a 3.1-acre industrial site in Costa Mesa. The facility includes a 12,588-square-foot truck and automotive maintenance facility and office building. The group, which includes Hyundai of Huntington Beach, Hyundai of Anaheim and Hyundai of Garden Grove, entered into a five-year agreement for the space. They will use the property as a reconditioning, repair and storage facility for their fleet of new and used vehicles. Jace Gan and Clyde Stauff of Colliers represented the space’s owner, BLT Enterprises.
SAN DIEGO — Jimbo’s Naturally has signed a 25,000-square-foot lease at The Row at Civita, Sudberry Properties’ 20-acre mixed-use development in San Diego. The grocery store will be an anchor at the property, which is situated within the 230-acre, master-planned community of Civita. Construction on the building is scheduled to begin in early 2025, with the opening planned for the second half of 2026. This will mark the fifth Jimbo’s store within San Diego County.
DENVER — EverWest Real Estate Investors has purchased Central Connection, a 194,710-square-foot, Class A industrial asset in Denver, for $39.6 million. The two-building property is located at 1550 and 1210 E. 73rd Ave. in the North Central infill submarket. It is fully leased to six tenants in an area known for significant demand and high barriers to entry. Jeremy Ballenger, Jim Bolt, Tyler Carner and Jessica Ostermick of CBRE represented the seller, a joint venture between Comunale Properties and institutional investors advised by J.P. Morgan Asset Management.
SURPRISE, ARIZ. — Mohr Capital has started construction of West Summit Logistics Park, a 704,472-square-foot industrial property in Surprise. The project will include two Class A industrial buildings situated three miles from the Northern Parkway and five miles from Loop 101 and Loop 202. Mohr Capital is the project developer, while Rosewood is the equity partner. Ware Malcomb serves as the project architect, and Nitti/DAC, a joint venture between Nitti Builders and Del Amo Construction, serves as the general contractor.
HAYWARD, CALIF. — Prologis has purchased a 21,420-square-foot cross-dock warehouse located at 651 Sandoval Way in Hayward. The property features a remodeled office building, truck service maintenance building, employee parking and container parking stalls. The cross-dock warehouse has 50 dock positions and concrete truck wells. RPM Transportation is the sole tenant of the property. CBRE’s Chris van Keulen, Bob Ferraro and Michael Barry represented both the unnamed buyer and Prologis in the transaction.
HONOLULU — Apparel company Jeans Warehouse has purchased a 16,000-square-foot industrial facility in Honolulu. The facility is located at 99-984 Iwaena St. in the Aiea neighborhood. The acquisition comes a few months after Jeans Warehouse acquired an 18,500-square-foot industrial facility at 99-910 Iwaena St. for distribution and administration. JLL’s Cullen Oesterly represented the retailer in both acquisitions, as well as the seller of the most recent facility, CTY Investors Ltd.
NORTH HOLLYWOOD, CALIF. — Syracuse University has leased 21,377 square feet of space at a nine-story office building in North Hollywood. The building is located at 5250 Lankershim Blvd. The space will house the university’s growing “SU in LA” semester programs, a career-oriented initiative for students in the S.I. Newhouse School of Public Communications and the College of Visual & Performing Arts. Marty Barkan represented Syracuse University in the lease negotiations. Patrick Church and Anneke Greco of JLL represented the landlord, DivcoWest.
