SAN DIEGO — Ware Malcomb has completed the redevelopment construction of Rancho Vista Corporate Center, located at 16399 W. Bernardo Drive in San Diego. Swift Real Estate Partners is the developer, Level 10 Construction served as general contractor and Ware Malcomb provided architecture, interior design and branding services for the project. The newly renovated corporate campus features Class A office and R&D buildings totaling 838,300 square feet on 67.5 acres. The project included the renovation of the exteriors, with upgraded landscape and hardscape throughout, as well as upgrading the on-site amenities for tenants. Additionally, the project now features a remodeled conference center, courtyard and 15,600-square-foot café with an operable glass wall system, as well as a new indoor workout facility, activity center with basketball and volleyball courts, outdoor collaboration areas and an outdoor dining area with a stretched fabric canopy. Ware Malcomb’s Branding Studio also provided signage design services for the redevelopment. The main goal for the project was to create site and brand identity with a design focused on energy efficiency, with xeriscaping to minimize water use and abundant shared areas to allow users to utilize site amenities.
Western
OXNARD, CALIF. — NKF Capital Markets has arranged the sale of Esplanade Shopping Center, a regional shopping center located at 195 W. Esplanade Drive in Oxnard. Brixmor Property Group sold the property to G&I IX Esplanade Property LP for undisclosed price. At the time of sale, the 488,867-square-foot property was 92.3 percent occupied. Current retailers include Nordstrom Rack, Walmart Neighborhood Market, T.J. Maxx, Staples, Dick’s Sporting Goods, Cost Plus World Market and The Home Depot. Restaurants include BJ’s Restaurant, Blaze Pizza, In-N-Out Burger, Pick Up Stix, Jamba Juice and Starbucks Coffee. Bill Bauman, Kyle Miller and Matthew Schwartz of NKF Capital Markets represented the seller. Additionally, NKF’s David Milestone and Brett Green secured financing for the buyer in the transaction.
SAN DIEGO — The Irvine Co. has purchased Sunroad Corporate Center, a three-building office property located in San Diego’s University Town Center submarket. Sunroad Enterprises sold the property for an undisclosed price. Situated on 8 acres at 4401, 4435 and 4445 Eastgate Mall, Sunroad Corporate Center comprises three four-story buildings featuring a total of 302,289 square feet of Class A office space. The campus features a fitness facility and the buildings are adjoined by an outdoor environment complete with a newly constructed pavilion, which includes a floating café and lounge and modern water features. Additionally, each building has its own subterranean elevator-served executive parking facility, as well as ample surface parking and a standalone parking structure. Kevin Shannon, Brunson Howard, Paul Jones, Ken White and Rick Stumm of NKF represented the seller, while The Irvine Co. was self-represented in the transaction.
PHOENIX — Colliers International has arranged the sale of Siena on Baseline, an apartment community located at 4520 E. Baseline Road in Phoenix. Dallas-based Knightvest Acquisitions acquired the property from Scottsdale, Ariz.-based P.B. Bell Companies for $49 million. Situated on 14 acres, the 22-building property features 352 apartments in a mix of one-, two- and three-bedroom layouts. Built in 1986, the community features a clubhouse, three swimming pools, spa, fitness center and pet park. Cindy Cooke and Brad Cooke of Colliers International in Greater Phoenix represented the seller, while the buyer was self-represented in the deal.
Merced Capital, Restart Investments Sell 178,792 SF Office Building in Phoenix for $25.3M
by Amy Works
PHOENIX — Minnetonka, Minn.-based Merced Capital and California-based Restart Investments have completed the sale of Camelback Arboleda, an office building located in Phoenix’s Camelback Corridor. Solana Beach, Calif.-based Fenway Capital Advisors acquired the property for $25.3 million. Brian Ackerman and Dennis Desmond of JLL represented the sellers in the deal. The four-story building features 178,792 square feet of office space. Additionally, the property is located adjacent to Camelback Marketplace, a 107,000-square-foot retail center featuring a variety of tenants, including Starbucks Coffee, Chick-fil-A, McDonald’s, Subway, Einstein Bros. Bagels, Yogis Grill and Zoës Kitchen.
SAN DIEGO — CBRE has negotiated the sale of a retail building, located at 2801-2811 University Ave. in San Diego’s North Park submarket. Sally K. Butcher, special trustee of Donald L. Butcher and Sally K. Butcher Trust, sold the property to Cahuenga Lofts LLC for $4 million. Joel Wilson, Reg Kobzi and Michael Peterson of CBRE’s San Diego office represented the seller, while Cory Stehr of Lee & Associates represented the buyer in the deal. The Mission North Park, a breakfast and lunch restaurant, and Fido & Co. Canine Country Club, a dog daycare and grooming salon, occupy the two-tenant, 9,000-square-foot retail property.
DENVER — Pinnacle Real Estate Advisors has arranged the sale of a retail building located at 476 S. Broadway in Denver. An undisclosed buyer acquired the property for $2.7 million, or $114.83 per square foot. Situated in the Washington Park West neighborhood of Denver, the building features 23,513 square feet of retail space. Le Grues Flower and Gifts will continue to occupy the space. Cody Stambaugh of the Stambaugh|Sengelmann Team of Pinnacle Real Estate Advisors assisted the buyer and undisclosed seller in the deal.
HONOLULU — Hilton Grand Vacations Inc. (NYSE: HGV) has purchased a one-acre site in Honolulu’s Waikiki neighborhood with plans to develop a 32-story timeshare resort. The site currently houses King’s Village shopping center, Hale Waikiki Hotel and Prince Edward Apartments. Construction is slated to begin in the second quarter of 2019, with project completion in the first quarter of 2022. The property will include 191 timeshare apartment units, comprised of studios, one-, two- and three-bedroom suites. Resort amenities will include a fitness center, pool, business center and owners’ lounge. The project will be HGV’s sixth resort on the island of Oahu, increasing the total count to 1,429 units. “Building on our local development history that started with the Lagoon Tower in 2000, our latest project in Waikiki will assure that HGV continues to offer lifetime vacation experiences to our next generation of owners,” says Mark Wang, president and CEO of HGV. Orlando-based HGV is a global timeshare company that develops, markets and operates vacation ownership resorts in select vacation destinations. The company’s stock price closed at $32.58 per share on Tuesday, Sept. 25, down from $38.57 per share one year ago. BSC KVSC LLC, a partnership that includes BlackSand Capital, …
PCCP Provides $128M Acquisition Loan for 540,000 SF Office Portfolio in Southern California
by Amy Works
NEWPORT BEACH AND IRVINE, CALIF. — PCCP has provided a $128 million senior loan to a joint venture between Angelo Gordon and Lincoln Property Co. for the acquisition and leasing of a four-property office portfolio in Newport Beach and Irvine. Totaling 540,000 square feet, the portfolio includes the 181,000-square-foot Redstone Plaza, an 83,000-square-foot property at 1201 Dove St. in Newport Beach, the 163,000-square-foot Inwood Park and the 112,000-square-foot Newport Summit in Irvine. Tenants from a range of industries — including finance, marketing, tech, food and beverage, legal, healthcare and real estate — occupy the properties. The buyer plans to execute an improvement plan to capitalize on strong rent growth and leasing in the submarket, as well as fill any remaining vacancy.
RENO, NEV. — S&S Activewear has signed a lease for an industrial facility at North Valleys Commerce Center in Reno. The national wholesaler of imprintable apparel will occupy the 802,113-square-foot property located at 9550 N. Virginia St., Building D. The company also plans to hire approximately 350 employees for the facility, which is owned and operated by CP Logistics NVCC II, a joint venture between CALSTERS and Panattoni Development Co. Michael Nevis, Michael Hoeck, Steve Kucera and Tim Gunsten of Kidder Mathews represented the landlord in the lease transaction.