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• The Bascom Group Spends $14 Mil on Torrance Multifamily Property
4/28/17
The Bascom Group has acquired Harvard Villa Apartments, a 64-unit, infill apartment community in the LA South Bay city of Torrance, for $14 mil ($219k/unit). Bascom views Harvard Villa as a strong value-add opportunity, and p...
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• Commercial Real Estate Financing Briefs
4/28/17
PACIFIC SOUTHWEST REALTY SERVICES – Mike Thorp of Pacific Southwest Realty Services arranged $29 mil in financing on a 75.6k sf retail center in Goleta. Newly constructed in 2016, the center is comprised of five multi‐t...
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• Shamina Investments Buys 53-Room Claremont Hotel Westwood
4/27/17
West Hollywood-based Shamina Investments recently purchased the Claremont Hotel Westwood, a 53-room hotel property in Los Angeles’ upscale Westwood neighborhood. Shamina plans to move forward with an extensive renovation of t...
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• Harrison Street Real Estate Capital Buys 1.4 msf Self-Storage Portfolio
4/27/17
Harrison Street Real Estate Capital LLC recently acquired a portfolio of 15 self-storage properties located in California, Arizona, Colorado and Minnesota. The price was not disclosed.
The Trojan Self Storage Portfolio encom...
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• Office/Industrial Asset in Carlsbad Trades for $175/sf
4/26/17
A high net-worth 1031 exchange buyer purchased a 64.2k sf creative office/industrial asset in Carlsbad for $11.25 mil, or $175/sf. The property, located at 5858 Dryden Place, was 98% leased by 44 tenants.
The facility inclu...
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• Cushman & Wakefield to take Two Full Floors at Wilshire Grand Center
4/26/17
Global real estate services firm Cushman & Wakefield has signed a long-term lease at the world-class Wilshire Grand Center, the new, 2.1 msf commercial development in the heart of Downtown Los Angeles. The firm will occupy th...
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• Draftsmen & Craftsmen
4/25/17
Lifescapes International completed the landscape design for Trumark Urban’s TEN50, the new, luxury 25-story high-rise featuring 151 luxury residences in the heart of downtown Los Angeles. Located at 1050 S. Grand Ave in Downt...
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• GoPlus Corp Lease of 267k sf Facility Represents 2nd Major Signing in the Past 60 Days at Fontana Biz Park
4/24/17
GoPlus Corp, a major international import-export firm, has leased a 267k sf building at Vintage Park East Industrial Park in Fontana. The 63-month deal has a total value of $7.3 mil, or around $0.43/sf/mo.
The building that ...
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• New 140-Unit Project Announced for LA’s Arts District
4/21/17
A new mixed-use project is in the works for Downtown LA’s Arts District. The project, called 641, is being developed by local businessman Adam Lindemann and will be designed by Johnson Fain. It is located at the corner of Imp...
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• Bakersfield Starbucks Sells for $1,432/sf
4/19/17
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...
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• Vista Office Asset Trades for $12.8 Mil
4/19/17
In a recent San Diego-area office trade, an unnamed buyer paid $12.8 mil for Paseo Palomar, a low-rise, 60.6k sf ($211/sf) office project in Vista. We’re told this transaction represents one of the highest per-square-foot pri...
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• Multi-Tenant Retail Asset in Katy, TX Fetches $547/sf
4/18/17
A newly developed, 8.5k sf multi-tenant retail property within Grand Crossing, a mixed-use development in Katy, TX, has sold for $4.65 mil, or $547/sf. Built in 2016, the property is situated on two acres of land at 23641 Kat...
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• RAF Pacifica Group Acquires 40k sf Land Parcel for Solana Beach Mixed-Use Project
4/14/17
RAF Pacifica Group has acquired a 40k sf land parcel in San Diego’s Solana Beach submarket, on which the firm plans to develop a 26k sf, mixed-use project integrating restaurant, retail, office and multifamily space. It was p...
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• New Mexico Hotel Property Trades Hands in $4.35 Mil Sale
4/13/17
Ramada Las Cruces Hotel & Conference Center, a 114-room hospitality property located in Las Cruces, NM, sold for $4.35 mil ($38.2k/room). The property is located at 201 East University Ave, adjacent to Las Cruces Convention ...
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• Pacific Cataract and Laser Institute Pays $400/sf for Office Property in Bellevue, WA
4/12/17
Pacific Cataract and Laser Institute (PCLI) has purchased the Sweeney Conrad Building, a 33.2k sf, Class A office building in Bellevue, WA, for $13.5 mil ($407/sf). Sweeney Conrad, a locally-owned, certified public accounting...
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• Rockefeller Group to Begin work on 1.45 msf Spec Industrial Project in Perris
4/11/17
Rockefeller Group has acquired 68 acres of industrial land in the Inland Empire city of Perris, with plans for a new industrial development to be called Optimus Logistics Center. The company will begin construction on the pr...
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• Commercial Real Estate Financing Briefs
4/07/17
WALKER & DUNLOP -- Walker & Dunlop Inc arranged bridge loans totaling $99.7 mil for the acquisition of a portfolio of Class B res properties totaling 1,795 units in Texas. The properties feature various amenities including po...
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• ScanlanKemperBard Companies Recapitalizes Historic Office Building in Portland
4/06/17
ScanlanKemperBard Companies (SKB) recently completed a $53 mil disposition and recapitalization of the American Bank Building, a historic office building in Portland’s central business district. The transaction, which was ar...
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• Trio of AZ Self-Storage Properties Fetch $8.6 Mil
4/06/17
Business Property Trust has sold three self-storage facilities in Tempe, AZ for $8.6 mil. The three properties include: AA Bargain I & II Self-Storage Portfolio at 1700 E. Curry Road and 816 N. Scottsdale Road, and Tempe Bar...
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• EverWest Real Estate Partners and Independencia Asset Management Team Up in 262k sf Utah Office Buy
4/05/17
In a recent office sale out of Utah, a joint venture between EverWest Real Estate Partners and Independencia Asset Management has purchased South Towne Corporate Center, a two-building, Class A property totaling 262.2k sf in ...
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