| Simi Valley Unified School District Spends Over $10 Mil on 120k sf Building
The Simi Valley Unified School District (SVUSD) has acquired a 120.1k sf industrial building to relocate and consolidate its administrative offices under one roof. The property, located at 101 W Cochran St, west of Madera Rd ...
| Phillips Edison Grocery Center REIT II Inc Buys Grocery-Anchored Center in Bakersfield
Phillips Edison Grocery Center REIT II Inc purchased Riverlakes Village, a 92.2k sf, grocery-anchored shopping center in the city of Bakersfield. The price was not disclosed.
The neighborhood shopping center, which was 97% l...
| Marketplace Shopping Center in Oxnard Inks Deals with Two Major Retailers
In Oxnard, there have been two recent leases with national retailers at The Marketplace shopping center. The transactions, which total about 50k sf, were with Restoration Hardware Outlet and Design within Reach Outlet
| Donahue Schriber Spends $43.5 Mil on San Luis Obispo Retail Center
Donahue Schriber has acquired Marigold Center, a 174.4k sf, grocery-anchored shopping center in the CA central coast community of San Luis Obispo, for $43.55 mil, or $250/sf. It was sold by Kimco Realty Corp.
Anchored by V...
| Lompoc Retail Center Trades for $19 Mil
Central Towne Square, a 96.7k sf, grocery-anchored community center in the coastal Santa Barbara County community of Lompoc, was purchased by a high net worth individual for $19.04 mil ($197/sf). It was sold by LA-based Jade ...
| Patagonia Works Buys 68k sf Industrial Asset in Ventura
Patagonia Works, the holding company for Patagonia Inc, purchased a 68k sf industrial property in the city of Ventura. The price was not disclosed.
The property, located at 5301 North Ventura Ave, sits on 7.87 acres of land...
| Decron Properties and Sequoia Trade Multifamily Assets in $193 Mil Transaction
In an unusual institutional-quality multifamily investment deal, Decron Properties has traded a 264-unit property in Sacramento and cash to Sequoia in a direct exchange for a two-property 504-unit apartment portfolio in Simi ...
| Cypress West Partners Buys 55k sf Medical Office Property in Bakersfield
Cypress West Partners has acquired Riverwalk Medical Plaza, a 54.9k sf, campus-adjacent medical office building in Bakersfield. The Southern California-based healthcare investment, leasing and property management firm acquire...
| Dynamic Development Lands $25 Mil in Construction Money for Santa Maria Res Project
Dynamic Development Company has landed a $25.3 mil loan to start ground-up construction of the Refugio Townhome Apartments, a 125-unit residential project in Santa Maria. The loan was provided by Canyon Partners Real Estate L...
| Gelt Inc Forms New Mobile Home Venture
Gelt Inc has formed a new business venture, Happy Home Communities (HHC), which will focus exclusively on the acquisition and management of mobile home and RV resorts throughout the Western United States. HHC will be led by E...
| Rexford Industrial Realty Buys One SoCal Industrial Asset and Sells Another
Rexford Industrial Realty has purchased one industrial property for $16.5 mil, while selling another for $6.9 mil. Proceeds from the disposition and borrowings under the company's line of credit were used to fund the acquisit...
| Bakersfield Starbucks Sells for $1,432/sf
A newly-constructed, single-tenant corporate Starbucks with a drive-thru located in Bakersfield has sold for $2.65 mil, which works out to a price of $1,432/sf. According to CoStar, this sale achieved a record low cap rate of...
| Commercial Real Estate Financing Briefs
PSRS -- Mike Thorp with Pacific Southwest Realty Services arranged an $80 mil loan for a 266-unit walk‐up apartment project near Santa Barbara. The luxury, Class A complex sits on a 13.7-acre lot and includes 18 buildin...
| Investor Buys Oxnard Site for Spec Distribution Project
E&E Trust recently acquired a 3.84-acre land parcel within the McInnes Ranch Business Park in Oxnard for development of a spec distribution facility. The land parcel is located at 500 North Elevar St, on the corner of Elevar ...
| Bakersfield Industrial Portfolio Traded in $24 Mil Deal
An unnamed SoCal investor in a 1031 exchange has purchased a multi-tenant industrial portfolio in Bakersfield for $24.1 mil. The six buildings, totaling 526k sf ($46/sf) of space, were sold by Adler Realty Investments Inc.
| Ventura County Industrial Property Trades for $114/sf
In a recent industrial sale comp out of Ventura County, a 113k sf, two-story building in Camarillo was acquired by a private investor for $12.875 mil, or $114/sf. The property is located at 750 W. Ventura Blvd, west of Las Po...
| Ventura County Industrial Buy Financed with $19 Mil in Owner/User Money
Continental Partners has arranged $19.2 mil in owner-user financing for a 256k sf industrial property located at 709 Science Drive in Moorpark, within the Ventura County market. The financing consists of a $13.7 mil first tru...
| Res Property Along Oxnard Beach Sells for Over $22 Mil
Paz Mar Select, a 90-unit, waterfront multifamily property in Oxnard, sold in a recent $22.25 mil ($247k/unit) transaction. Built in 1971, the property is located at 4220 S. Harbor Blvd, south of Wooley Rd by Oxnard Beach.
| Bakersfield Regional Shopping Center to Undergo a Complete Renovation
Local developers C & C Properties Inc and MarkChris Investments intend to renovate East Hills Mall, a 414k sf regional shopping center in Bakersfield that they just acquired in December of 2016. Built in 1988 on 36.4 acres, E...
| Investor Pays Over $8 Mil for Santa Barbara Office/Industrial Asset
A 30.3k sf office / industrial complex in downtown Santa Barbara traded hands for $8.17 mil, or about $270/sf. It was purchased by Brian Lezak of Cameron Pacific, in conjunction with 6530 Sepulveda LLC.
The property is locat...