| Beachfront Apartment Property in Ventura County Trades for $500k/Unit
A seven-unit, beachfront multifamily rental property in Ventura County has traded for $3.5 mil, or $500k per unit. The property is located at 5151 Neptune Square, between Harbor Blvd and the coast.
Constructed in 1974, the p...
| New Pismo Beach Hotel Financed with $26.5 Mil Loan
Sonnenblick-Eichner Company has arranged a $26.5 mil interim refi loan on Inn at the Pier, a new 104-room, full-service luxury boutique hotel located one-half block from the Pacific Ocean in the heart of Pismo Beach, CA.
| Local Buyer Picks Up 83k sf Goleta Building Occupied by Northrop Grumman Innvation Systems
An 83.5k sf building located at 600 Pine Ave in Goleta was acquired by a local buyer. The building is fully leased by Northrop Grumman Innvation Systems (formerly Orbital ATK) until 2025. Although we don’t have the final sale...
| Rexford Industrial Realty Closes $106 Mil SoCal Biz Park Buy
In a major industrial acquisition from a few weeks ago, Rexford Industrial Realty Inc purchased Conejo Spectrum Business Park, a nine-building, 531.4k sf industrial park in Thousand Oaks, for $106.3 mil ($200/sf). The complex...
| Commercial Real Estate Financing Briefs
GEORGE SMITH PARTNERS – Gary Tenzer with George Smith Partners arranged $39.3 mil in forward rate-lock permanent financing on a newly constructed, 154-unit, luxury multifamily property in downtown Ventura, one mile from the P...
| Oxnard Office Building Purchased by Local School Districts in a $13.7 Mil Deal
A vacant, 115.6k sf Class A office building in Oxnard traded in a transaction valued at $13.75 mil, or $119/sf. The buyers were Oxnard Union High School District and Rio School District, who intend to jointly use it for admin...
| Multifamily Property in Port Hueneme Trades for Over $37 Mil
Park Madera Apartments, a 169-unit apartment complex in Port Hueneme, CA, was purchased for $37.35 mil ($221k/unit) by a private investor in an off-market transaction. Located at 2410 Madera Circle, the property was sold by a...
| Sterling Organization Spends $35 Mil on Westlake Village Retail Center
Sterling Organization acquired North Ranch Gateway, an 86.5k sf retail center in Westlake Village, for $35 mil ($405/sf) on behalf of its managed funds. The purchase was financed with $25.9 mil in debt arranged by CBRE.
| Oxnard Union High School District and Rio School District Join Forces in Purchase of Oxnard Office Building
Oxnard Union High School District and Rio School District have purchased a 115.6k sf office building in Oxnard for $13.75 mil ($119/sf). Oxnard Union High School District will own 70% of the building, located at 1800 Solar Dr...
| RAF Pacifica Purchases 11 Acres in Goleta’s Cabrillo Business Park
RAF Pacifica has purchased five parcels of fully entitled commercial land totaling approximately 11.36 acres at the Cabrillo Business Park near the Santa Barbara Municipal Airport in Goleta. The Cabrillo Business Park is home...
| San Luis Obispo City Council Approves 131-Acre Mixed-Use Development to Include Homes, Office Space, a Hotel & More
Presidio Residential Capital and Coastal Community Builders expect to break ground on San Luis Ranch in the first quarter of 2019
Presidio Residential Capital and Coastal Community Builders have received approval from the Sa...
| Camarillo Industrial Portfolio Trades for $24.5 Mil
In the Ventura County city of Camarillo, a portfolio of three industrial buildings totaling 149.8k sf of space, sold for $24.5 mil ($164/sf). The individual properties that comprise the portfolio include an 81.2k sf building ...
| Pair of Medical Office Buildings in Westlake Village Trade for $30 Mil
Two medical office buildings totaling 50k sf in Westlake Village sold for $29.95 mil, or about $599/sf. The assets were purchased by Welltower in an off-market transaction.
The buildings, located at 1220 and 1250 La Venta D...
| Two Ventura County Land Buys Total $11 Mil
There were two recent land transactions in Ventura County that totaled nearly $11 mil. The deals encompass the sale of a 2.52-acre land parcel to the City of Camarillo for affordable and market-rate multifamily development on...
| Majority of Buildings at New Thousand Oaks Biz Campus Have Been Leased
Seven of the nine buildings that comprise Sares Regis Group’s 505k sf Conejo Spectrum Business Park in Thousand Oaks have been fully leased, leaving just two remaining buildings on the market. We’re told that this is the firs...
| Regional Retail Center in Oxnard Trades Hands
In retail investment news out of Ventura County, a majority, 357k sf, portion of Esplanade Shopping Center, a 488.9k sf regional retail center located at 195 W. Esplanade Dr in Oxnard, traded hands.The center, just over 92% o...
| 332k sf SoCal Regional Mall Trades in $21 Mil Deal
A majority, 331.8k sf portion of Santa Maria Town Center, a regional mall in the coastal SoCal city of Santa Maria, traded hands in a recent transaction valued at about $21.5 mil, or $65/sf. The property is anchored by Sears ...
| Westcore Properties Buys 115k sf Industrial Facility in Ventura County
Westcore Properties paid $13.8 mil for a 114.6k sf ($120/sf), industrial manufacturing building located in the Ventura County city of Moorpark. The fully occupied, two-story property is located at 6100 Condor Dr, east of Prin...
| Conrad N. Hilton Foundation Spends $50 Mil on Dole Campus in Westlake Village
The Conrad N. Hilton Foundation paid $50 mil for the 168k sf ($298/sf) Dole corporate campus in Westlake Village in an off-market transaction.
The campus, situated on more than 10 acres at One Dole Dr, on the north side of t...
| Majestic Asset Management Purchases 125k sf Goleta Commercial Property
Majestic Asset Management Inc has purchased a three-building, 124.8k sf commercial property in Goleta for $16.5 mil ($132/sf). Majestic plans to improve and reposition the asset, situated on 5.6 acres at 839-879 Ward Dr.