| Optimus Properties Exchanges $15.75 Mil in Torrance Office Building
Optimus Properties LLC paid $15.75 mil for a 60.8k sf office building in Torrance, as part of a 1031 exchange. The property, located at 2325 Crenshaw Blvd, was sold by an affiliate of Transpacific Development Company.
| Global Medical REIT Spends Over $17 Mil on Inland Empire Medical Office Building
Global Medical REIT paid $17.2 mil for Corona Main Medical Plaza, a 41.8k sf ($411/sf) medical office building in Corona. Constructed in 2009, Corona Medical Plaza is 100% leased and is located at 2250 S Main St, in the heart...
| Hillwood Purchases 350k sf Industrial Development in Austin
Hillwood has acquired Southpark Commerce Center V, a recently completed, 350.2k sf industrial project in Austin, TX. The 50% leased, three-building property is located at 4500 S. Pleasant Valley Rd. The price was not disclose...
| Transwestern Investment Group Picks Up 1.2 msf TX Industrial Property
Transwestern Investment Group acquired a 1.2 msf industrial property in north Fort Worth, TX from DHL Supply Chain, on behalf of one of its separately managed accounts. The price was not disclosed.
Constructed in December 20...
| Bela Flor Communities Obtains $40 Mil in Financing for New AZ Res Community
Bela Flor Communities has landed $40 mil in financing for Bella Victoria, a newly built, 236-unit, high-end, multifamily property in Mesa, AZ. The property was nearly 94% leased at the time of construction completion.
| Draftsmen & Craftsmen
Work has been completed on a new $73 mil student services building at California State Polytechnic University, Pomona. Serving as a new “front door” to the university, the three-story, 138.4k sf structure consists of two buil...
| Commercial Real Estate Financing Briefs
AVISON YOUNG - Jay Maddox and Peter Sherman with Avison Young arranged a $29 mil loan on behalf of Mega Home LLC to refinance the construction and sell-out of a partially completed 80-unit condominium project located in Los A...
| Bridge Development Partners is Thinking Inside and Outside the Box
In a notable industrial buy in Los Angeles, Bridge Development Partners LLC has acquired ‘The Box Yard’, a 261.5k sf industrial property located on 7.54 acres at 2445 East 12th St, south of I-10 and Olympic Blvd, on the west ...
| Phoenix Apartment Sales Comp Comes in at $120k/Unit
Sanctuary on 22nd, a 266-unit apartment community in Phoenix, sold for $31.8 mil ($119.5k/unit) in a recent deal. The property, located at 8530 N. 22nd Ave, was acquired by a private investor.
Built in 1985, Sanctuary on 22n...
| Principals from Peregrine Realty Partners Buy 65k sf Office Building in Carlsbad
Carlsbad Airport Plaza, a three-story, 64.8k sf office property in Carlsbad, sold for $14 mil, or $216/sf. The buyer was a limited partnership controlled by the principals of commercial real estate firm Peregrine Realty Part...
| Watt Multifamily Buys 280-Unit Res Community in Las Vegas
Watt Multifamily Corp purchased Chapel Hill, a 280-unit multifamily property in Las Vegas. The property is located at 9620 West Russell Rd, just west of the 215 Fwy.
Although the price was not immediately disclosed, Watt fin...
| Investor Picks Up Phoenix Office Property
West 101 Corporate Center, an 81.9k sf office building in Phoenix, sold for $8.5 mil ($104/sf). It was acquired by Ryan Spiekerman and Adam Feldman of Helix Properties LLC, on behalf of Next Gen 101 LLC, a single-entity contr...
| Newport Beach Showroom Property Sells for Over $1,400/sf
A 4.5k sf retail and showroom property in Newport Beach was acquired by a high net worth investor for $6.4 mil, or $1,422/sf.
The property, consisting of two single-story buildings, is located at 2510-2530 West Coast Hwy. I...
| Nooner Holdings Buys Community Shopping Center in Texas
Nooner Holdings has acquired Military Crossing, a 171.3k sf, community shopping center located in San Antonio, TX. The center is 99% occupied and includes Academy Sports flagship store, BioLife Plasma Services, Harbor Freight...
| Walters Wholesale Electric Company Renews Brea Distribution Facility Lease
Walters Wholesale Electric Company has agreed to a long-term renewal of it its existing 246.6k sf distribution facility in Brea in deal worth $24.7 mil. The building is at 200 N Berry St, in a central industrial corridor with...
| AZ Biz Park Acquired By Pacifica Real Estate Group for $14.6 Mil
Santa Barbara-based Pacifica Real Estate Group purchased Pecos Gateway Business Park, a 125.9k sf industrial property in Mesa, AZ, for $14.6 mil ($116/sf). The asset, located at 8743 E. Pecos Rd, was sold by Boomerang Capital...
| Self-Storage Facility Becomes the Latest Gelt-y Pleasure for L.A. Real Estate Firm
Gelt Inc has acquired Southmark Storage, a 665-unit, self-storage facility in South Pasadena, for $16.5 mil. Built in 1986 and situated on a 1.81-acre site at 919 Mission St, the six-building property includes 623 indoor stor...
| Roofing Distributor Leases New 70k sf OC Industrial Building Still Under Construction
An unnamed commercial/residential roofing distributor has agreed to a 10-year, $8.65 mil lease of a 69.9k sf ($1.03/sf/mo) industrial building currently under construction in Placentia. The property, located at 721 S. Van Bur...
| KKR Spends $24.8 Mil on San Diego-Area Biz Park
KKR has acquired Haffley Industrial Park, a fully leased, two-building industrial park totaling 146.7k sf in the San Diego-area community of National City. The asset was sold by Presidio Property Trust for $24.8 mil ($169/sf)...
| Investor Pays $10.8 Mil for Bakersfield Distribution Property
A 220.2k sf, single-tenant NNN lease industrial distribution center in Bakersfield traded hands for $10.85 mil ($49/sf). Built in 1980, the property is occupied by Men’s Warehouse.
The property is located at 5801 District Bl...