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August 12, 2020
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SOUTHERN CALIFORNIA NEWS
Archive
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• Wiseman Residential Pays $13.75 Mil for Entitled Multifamily Dev Site in West Los Angeles
12/16/19
Wiseman Residential paid $13.75 mil for a former gas station and parking lot property located at 11261 Santa Monica Blvd in Los Angeles. The property was sold by BLT Enterprises, who, with the help of their architects at KFA,...
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• Res Asset in San Diego’s UTC Submarket Goes for $375k/Unit
12/16/19
Mark Gosselin, president of Property West Residential Inc, paid $22.5 mil for La Jolla Park West, a 60-unit ($375k/unit) multifamily property located in San Diego. The asset, situated in San Diego’s highly coveted University ...
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• Johnson Storage & Moving Co Collects $8.47 Mil from Dispostion of 60k sf Otay Mesa Building
12/16/19
A 59.8k sf, Class A industrial building in Otay Mesa sold for $8.47 mil ($142/sf). The building is fully occupied by Johnson Otay LLC, dba Johnson Storage & Moving Co, which sold the property to Eastgroup Properties in a sale...
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• Rexford Industrial Realty Spends $100 Mil on Two SoCal Acquisitions
12/13/19
Rexford Industrial Realty has closed on the acquisition of two SoCal industrial properties in purchases that totaled $99.7 mil. The investments were funded using cash on hand. In the larger buy, Rexford acquired Pomona Distr...
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• Office Building in San Diego’s Bankers Hill Sells for $269/sf
12/13/19
A private local investor purchased Park West Square, a 13k sf office building in San Diego’s Bankers Hill, for $3.5 mil ($269/sf). Located at 2121 5th Ave, the two-story office building was originally built in 1980. Park Wes...
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• City of Hopes Leases Additional 153k sf at Irwindale Office Complex
12/12/19
City of Hope, a world-renowned independent research and treatment center for cancer, diabetes and other life-threatening diseases, leased 152.6k sf of space at The Campus at SGV in Irwindale. The lease terms were not disclose...
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• West Coast Capital Partners Buys Leasehold
12/12/19
West Coast Capital Partners bought the leasehold interest in Airport Plaza, a Class A, two-building office property in Long Beach. The asset, totaling 121.8k sf of space, is located at 5000 and 5001 Airport Plaza Dr. The pric...
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• L.A. Creative Office Project is Refinanced
12/12/19
The Luzzatto Company has refinanced Exposition 2, a creative office development totaling 56k sf at the intersection of Crenshaw and Exposition Blvds in Los Angeles. Paul Brindley, Jeff Sause and Spencer Richley arranged the $...
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• APPA Real Estate Buys Development Site in East Pasadena
12/12/19
Los Angeles-based APPA Real Estate has purchased a land site in East Pasadena for the development of a new transportation-oriented, mixed-use multifamily project. The site, totaling just over three-quarters of an acre at 3768...
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• El Segundo Building Leased Up after Creative Office Renovation
12/11/19
Following a year-long construction effort, EverWest Real Estate Investors has completed and fully leased 1925 East Maple. Located immediately southeast of Los Angeles International Airport, the $24 mil adaptive reuse project ...
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• Long Beach Multifamily Asset Sells for $365k/Unit
12/11/19
A 12-unit, two-building apartment property in the desirable Alamitos Beach neighborhood of Long Beach sold for $4.38 mil, or $365k/unit. The property, located at 1316-1322 E. 3rd St, a few blocks north of Ocean Ave and roughl...
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• United Trust Realty Corporation buys 7.5 Acres of Development Land in Chino
12/10/19
United Trust Realty Corporation (UTRC) purchased 7.53 acres of commercially zoned land in Chino’s College Park Master Planned Community for $2.9 mil. The property is bordered by Eucalyptus and Oaks Avenues and is the last rem...
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• Acquisition of Downtown San Diego Development Site Funded with $7 Mil Loan
12/09/19
San Francisco-based India & Beech LLC acquired a 10k sf land parcel in the Little Italy neighborhood of downtown San Diego for development of a high-rise residential/retail tower. The $7.1 mil purchase is being funded by a $7...
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• Work Started on Language Arts and Social Science Building at Orange Coast College
12/09/19
Construction is underway on Orange Coast College’s (OCC) new $50 mil Language Arts and Social Science Building. The three-story, 107.8k sf building is part of a larger initiative to modernize the campus and accommodate its ra...
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• Buena Park Multifamily Comp Closes at $288k/Unit
12/06/19
Knott Townhouses, a four-building, 28-unit multifamily property in Buena Park, was acquired by an investment entity for $8.06 mil, or about $288k/unit. Located at 7051 9th St, the property is a two-story, garden-style complex...
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• Retail Building in West Hollywood Goes for $1,700/sf
12/06/19
A two‐story, 21.3k sf retail building in West Hollywood has traded hands in a $36.2 mil transaction, which works out to $1,702/sf. The fully renovated building is 100% leased to Luminaire, one of the hottest, most excl...
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• Buyer spends $3.7 Mil on Retail Building in Oceanside
12/06/19
A 12k sf, multi-tenant retail building in Oceanside has sold for $3.7 mil, or $308/sf. The property is located at 417-431 S. Coast Highway, south of Mission Ave between I-5 and the coast. At the time of sale, the property wa...
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• Mixed-Use Asset in San Diego Purchased for $5.5 Mil by Midwest Investment Properties
12/05/19
A 12.4k sf retail and residential mixed-use property in San Diego’s South Park neighborhood sold for $5.5 mil ($443.50/sf). The 14.4k sf parcel is located at 3006-3020 Beech St, north of Hwy 94 between I-15 and Balboa Park. ...
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• Investors Trade Lomita Multifamily Property in $6.75 Mil Deal
12/05/19
Rolling Hills Gardens Apartments, a 24-unit apartment building in Lomita, sold for $6.75 mil, or $281k/unit. Located at 25925 Viana Ave, adjacent to Pacific Coast Highway, the asset was traded between local private investors....
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• Historic Miramar Theater Property in San Clemente Sells for $7.9 Mil
12/05/19
Fortuitous Partners has acquired the historic Miramar Theatre property in San Clemente, in a recent $7.9 mil transaction. The asset, located at 1700 N El Camino Real, consists of 12.6k sf of improvements on a 26.7k sf site. ...
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