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• OC Retail Strip Center Trades for $648/sf
3/29/24
World Premier Investments has purchased Newport and Walnut Center, a 9.6k sf retail strip center in the OC city of Tustin for $6.225 mil ($648/sf) as part of a 1031 exchange. The asset was sold by a private family trust that ...
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• Fullerton Warehouse Property Sells for $277/sf
3/28/24
A 48.2k sf, freestanding industrial warehouse in Fullerton sold for $13.35 mil ($277/sf). The building sits on 2.21 acres at 1450-1456 S. Manhattan Ave, east of Raymond Ave and just north of the 91 Fwy.
Garrett McClelland an...
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• Work Completed on New Springhill Suites by Marriott Hotel in Chula Vista
3/27/24
Construction has been completed on a 179-room Springhill Suites by Marriott in eastern Chula Vista, CA. The new 127.6k sf, all-suite hotel is located at 870 District Pl, in the city’s Eastlake area. The project was built for ...
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• R&V Management and Trammell Crow Residential Secure $200 Mil for Construction of a 600-Unit Res Project in Downtown Long Beach
3/26/24
A major residential development in downtown Long Beach is closer to getting underway, as R&V Management and Trammell Crow Residential (TCR) have obtained $200 mil in financing for Alexan West End, a 600-unit multifamily commu...
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• King Street Properties Underway with 60k sf Spec Life Sciences Project in Sorrento Mesa
3/26/24
King Street Properties has unveiled plans for a new 60k sf, spec lab and life sciences redevelopment, Mesa Labworks, in San Diego’s Sorrento Mesa submarket. King Street is converting the existing single-story building located...
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• Office Building in San Diego Sells for $17 Mil
3/26/24
A 54k sf, two-story office building in San Diego’s Kearny Mesa area traded for $17 mil. The fully leased office building sold for $315 per square foot, equating to a first-year cap rate of 8.5%. We’re told this marks the high...
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• Construction Started on Res Development in the City of Walnut
3/25/24
Sunjoint Development has started construction on the Terraces at Walnut, a 49-acre mixed use development located on Valley Blvd in Walnut, CA. Construction of the first product type, a single family two-story unit, began in...
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• Inland Empire Pilot Flying J Travel Center Trades at 4.9% Cap Rate
3/25/24
An Irvine-based private investor acquired a single-tenant property occupied Pilot Flying J Travel Center in Jurupa Valley, CA in a recent $14 mil transaction. The deal had a closing cap rate of 4.90%, which we’re told is an ...
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• Proposed Hollywood Creative Office Project Really Puts the Creative in Office
3/21/24
Los Angeles-based real estate development firm The Star LLC has submitted revised design plans for a proposed $1 bil “vertical creative office" campus on a two-acre lot at 6061 W. Sunset Blvd. The project is hoped to capture ...
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• Auto Dealership Buys Industrial/Storage Property in City of Orange
3/21/24
A 1.78-acre industrial outdoor site with five pre-existing storage buildings in the City of Orange was purchased by an auto dealership, McPeek’s Chrysler Dodge Jeep of Anaheim, in an $8.6 mil transaction. The property is loca...
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• Newly Constructed Warehouse within Tejon Ranch Commerce Center Sells for $37 Mil
3/20/24
A recently completed 233.2k sf warehouse building in Lebec, CA, within southwestern Kern County, was purchased by an owner/user for $37.1 mil, or $159/sf. The property was sold by a partnership of Dedeaux Properties and Basis...
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• Hollywood Office Building Trades in $5.4 Mil Deal
3/20/24
Big Sunday, a non-profit committed to helping others through service projects and giving opportunities, has purchased a 6.7k sf office building in Hollywood for $5.375 mil ($802/sf). The structure sits on an 18k sf lot at 174...
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• CBRE Investment Management and Hillwood Investment Properties Land $756 Mil in Financing for Fontana Industrial Development
3/19/24
A fund sponsored by CBRE Investment Management, in joint partnership with Hillwood Investment Properties, has secured an approximately $756 mil financing package for the construction of Phase I of Speedway Commerce Center. Th...
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• R&D/Lab Portfolio in Rancho Bernardo Gets New Owner in $30.8 Mil Deal
3/19/24
Dollinger Properties purchased a 90k sf R&D/Lab portfolio in San Diego’s Rancho Bernardo area in a $30.8 mil ($342/sf) transaction. The portfolio consists of two fully leased buildings located at 16981 Via Tazon and 11501 Ran...
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• Two Office Condos Sell in Recent Newport Beach Conversion Project
3/19/24
Shopoff Realty Investments sold two office condos in its Waypoint Newport project, located at 4440 Von Karman Ave in Koll Center Newport. The transactions were for units of 1.6k sf and 1.1k sf in size.
“It is no secret that ...
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• Hammer Ventures Pays $9.1 Mil for Sorrento Mesa R&D Building
3/18/24
A 19.6k sf R&D building in Sorrento Mesa traded in a $9.1 mil ($464/sf) deal. The property is located at 9560 Waples, east of I-805 on the south side of Mira Mesa Blvd, and was vacant at the time of sale.
The property was so...
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• Property within Glendale’s “Brand Boulevard of Cars” Trades for Over $3 Mil
3/14/24
A two-building, 6.7k sf retail/commercial asset in Glendale sold for $3.15 mil, or $468/sf. The asset is located at 1212 S. Brand Blvd, within “Brand Boulevard of Cars”, a car shopping destination situated in the Glendale sub...
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• Tourmaline Capital Pays $16.7 Mil for OC Retail Center
3/14/24
In a recent OC retail buy, Tourmaline Capital paid $16.7 mil for Anaheim Hills Shopping Village, a 67.5k sf ($247/sf) center in Anaheim. The property was sold by a private family partnership, who was the original developer.
...
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• Drawbridge Realty Finishes Work on 80k sf Office/R&D Facility in San Diego’s Rancho Bernardo Submarket
3/13/24
Drawbridge Realty has completed construction on 16705 Via Del Campo Court, an 80.7k sf, three-story, Class A office/R&D property in San Diego’s Rancho Bernardo submarket. The project is the first speculative office building t...
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• Malibu Mixed-Use Project is Refinanced with $135 Mil Take-Out Loan
3/13/24
Pacific Equity Properties recently obtained $135 mil in construction take-out financing on Cross Creek Ranch, a 122.3k sf, trophy, Class AA mixed-use property in Malibu. The property consists of 71.6k sf of retail and 50.7k s...
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