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October 13, 2019
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SOUTHERN CALIFORNIA NEWS
Archive
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• San Marcos Mobile Home Community Sells for $11.5 Mil
7/15/19
El Dorado Park, an 8.27-acre mobile home community located in San Marcos, sold for $11.5 mil. The property is located at 1515 Capalina Rd, west of I-15 and just north of Hwy 78. El Dorado Park includes 93 mobile home spaces ...
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• West Los Angeles Apartment Property Sale Comes in at 3.7% Cap Rate
7/12/19
An OC-based private investor paid $3.29 mil for Ocean Park Gardens, a seven-unit ($470k/unit) apartment property located on the Westside of Los Angeles. The deal had a closing cap rate of 3.7% and a price per square foot of ...
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• DTLA Office High-Rise to Undergo $20 Mil Renovation
7/12/19
KBS has begun work on a $20 mil renovation of Union Bank Plaza (UBP) in Downtown Los Angeles. Located at 445 S. Figueroa St, UBP is a Class A office tower owned by KBS Real Estate Investment Trust II. KBSí renovation of UBP ...
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• Bolour Associates Acquires Site in LAís Koreatown for $7.4 Mil
7/11/19
Bolour Associates Inc has purchased a .69-acre land site in the heart of Los Angelesís Koreatown for $7.4 mil and completed a simultaneous long-term ground lease at the property with an unnamed quick serve restaurant (QSR) te...
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• West Los Angeles Land Assemblage Sale Goes for Over $600/sf
7/11/19
A rare triple-lot multifamily assembly in West Los Angeles has sold for $9.4 mil, or $613/sf. The properties are located at 10448, 10456 and 10460 Santa Monica Blvd, just west of Beverly glen Blvd at the edge of Century City....
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• Apartment Building in L.A.ís Los Feliz Neighborhood Trades at 3.42% cap rate
7/11/19
A 16-unit multifamily community in Los Angelesí Los Feliz neighborhood was purchased for $5.45 mil ($340.6k/unit) by an unidentified family trust. The property is located at 2807-2813 St George St, south of Los Feliz Blvd and...
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• Parallel Capital Partners Purchases 200k sf San Diego Area Office Asset
7/11/19
San Diego-based Parallel Capital Partners has acquired Sky Park Office Plaza, a two-building, 203.3k sf office complex in San Diegoís Kearny Mesa area, for $50.6 mil ($249/sf). The Class A property covers 5.8 acres at 9275 an...
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• Apartment Building in L.A.ís Silverlake Area Sells for $281k/Unit
7/10/19
A 32-unit apartment building in the Echo Park area of Los Angeles traded hands in a recent $9 mil deal, giving the property a per unit price of $281.3k. The property is located at 1416 Echo Park Ave, east of Alvarado St and n...
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• Tappan Corporation Buys Office Building in San Diegoís Miramar Area
7/10/19
SoCal-based Tappan Corporation has acquired Sorrento Ridge, a 103.3k sf, three-story office building in the Miramar submarket of San Diego County. The price was undisclosed. Sorrento Ridge sits on 4.38 acres at 7220 Trade St...
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• JLL Income Property Trust Spends $90 Mil on San Diego Medical Office Asset
7/09/19
JLL Income Property Trust has acquired Genesee Plaza, a Class A, 160.5k sf two-building medical office campus in San Diego, for $90 mil ($559/sf). The complex is located at 9333-9339 Genesee Ave, north of Miramar Rd, roughly ...
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• Lake Forest Industrial Building Trades in $9.4 Mil Deal
7/09/19
A 33.8k sf industrial building in Lake Forest sold for $9.4 mil, or $278/sf. Built in 1997, the property is located at 25871 Atlantic Ocean Dr, west of the 241 Toll Road off Bake Pkwy. The concrete tilt-up structure sits on ...
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• Two Buildings in L.A.ís Highland Park Go for Over $600/sf
7/08/19
Two contiguous freestanding buildings encompassing 9.1k sf of space in the Highland Park area of Los Angeles were purchased by a private investor for $5.775 mil ($634/sf). The buildings are located at 5532 and 5526 North Figu...
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• OneLegacy Buys 99k sf Azusa Facility
7/08/19
OneLegacy, a non-profit tissue and organ donor organization, acquired a 98.8k sf commercial building in Azusa for $18.4 mil, or $186/sf. The property was sold by Proficiency Capital Corp - Optical LLC. The building, located...
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• El Cajon Res Property Sells for $184k/Unit
7/08/19
Casa Del Sol Apartments, a 20-unit multifamily complex located in the East County area of San Diego, traded hands for $3.68 mil, or $184k/unit. The 15.4k sf property is located at 922 S. Sunshine Ave, off I-8 in El Cajon. Th...
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• Pacific Athletic Wear Expands into Larger OC Facility
7/05/19
Pacific Athletic Wear recently inked an 84-month lease for a 76.1k sf industrial building in Garden Gove. The transaction has a total value of $3.2 mil, which works out to an average rate of around $0.50/sf/mo. The facility ...
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• Insomniac Games Takes Additional 11.4k sf of HQ Space in Burbank
7/05/19
Insomniac Games has expanded its HQ presence in Burbank, having leased an additional 11.4k sf at 2255 North Ontario St, within the Media Studios complex, bringing the video game producerís total occupancy to 53.1k sf. Insomni...
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• Skyline Displays Leases 17k sf of Space in El Cajon
7/03/19
Skyline Displays of San Diego signed a $2.4 mil lease for a 17.6k sf warehouse property in El Cajon. The property is located at 1940 Weld Blvd, south of Hwy 52 and east of Hwy 125. Skyline, an industry leader in trade show ...
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• LaTerra Development to Develop Two Res Projects in Santa Monica Totaling 99 Units
7/03/19
LaTerra Development has begun construction on the first of two apartment projects in Santa Monica, at the corner of Broadway Ave and Cloverfield Blvd. The second project, at the corner of Santa Monica Blvd and Yale St, is set...
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• Two Tenants Lease Up 250k sf Ontario Facility
7/03/19
Airport Distribution Center, a 250.2k sf industrial building in Ontario, has been fully leased by two tenants - Esperia Holdings LLC and Technical Consumer Products Inc. The facility is located at 5700 E. Airport Dr, at the s...
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• Placentia Multifamily Community Goes for $258k/Unit
7/03/19
A 12-unit multifamily community in Placentia sold for $2.9 mil, or about $258k per unit. Located at 911 Cypress Ave, the 9.2k sf property consists of 12 single-story cottages on a lot just under one-acre in size. Each unit ...
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