| IDS Real Estate Pays $126 Mil for 432k sf Industrial Project in the San Gabriel Valley
IDS Real Estate Group has acquired Azusa Industrial Center, a 432.5k sf, three-building industrial project located in Azusa, for $126 mil ($291/sf). Built during the mid-1980s and situated on over 23.6 acres, the multi-tenan...
| Rexford Industrial Realty Buys 76k sf OC Industrial Property
Rexford Industrial Realty purchased a 76k sf, infill light industrial facility in the OC city of Cypress. The property, located at 5630 Cerritos Ave, was sold by Penwood Real Estate Investment Management LLC, through its fift...
| OC Medical Office Building Trades for $600/sf
Harbor Medical Clinic, a 3.6k sf, multi-tenant medical office property in Costa Mesa, traded for $2.175 mil, or $603/sf. The buyer plans to occupy the vacant space with their medical business.
Harbor Medical Clinic, located ...
| OC Apartment Trade Comps at $354k/Unit
In a recent OC apartment sales comp, a 12-unit multifamily property in Anaheim sold for $4.25 mil or $354k/unit. The property was purchased by a private investor in a 1031 exchange.
Located at 921-927 S. Trident St, the pro...
| Wood Investments Companies Spends $7 Mil at 99 Cents Only Store in San Clemente
Wood Investments Companies Inc has acquired a 25.5k sf, freeway-visible retail property occupied by a 99 Cents Only Store in San Clemente, in an off-market transaction. The purchase price was $6.95 mil ($272/sf).
The 99 Cent...
| Trio of OC Apartment Trades Total Nearly $5.5 Mil
Here are a few recent apartment sales comps from Orange County as three four-unit properties were acquired by three separate private buyers in deals totaling $5.48 mil over a period of 10 days.
In one of the transactions, a ...
| Commercial Real Estate Financing Briefs
BANDON CAPITAL ADVISORS - Bryan Kenny with Bandon Capital Advisors arranged an $11.5 mil refi loan for a 3.11-acre covered-land industrial site with space for Industrial Outdoor Storage (IOS) in Costa Mesa, and secured $5 mi...
| 17-Unit OC Apartment Property Sells for $6 Mil
Orange County-based buyers paid $6 mil for a 17-unit ($353k/unit) multifamily property in Westminster, CA. The property was sold by an out-of-state private real estate investor.
Located at 13931-13951 Illinois St, the prope...
| Here’s a Quick Update on Two Hotel Financing Deals Worth Over $40 Mil
In recent hotel financing news, Tucson-based Khangura Development has obtained a $19.1 mil bridge loan for the Residence Inn by Marriott Phoenix Mesa East. The loan was provided by Dallas-based HALL Structured Finance.
| Watermarke Properties Spends $36 Mil on Santa Ana Covered Land Play
Watermarke Properties acquired 200 and 201 E. Sandpointe, an 8.3-acre covered land buy viewed as a multifamily redevelopment opportunity in Santa Ana. The property, which currently includes a two-building, eight-story office ...
| UFC GYM Leases Former Tower Records Building in Brea
UFC GYM has leased the 30k sf, former Tower Records property in the heart of Brea’s downtown shopping and entertainment district. The new gym is expected to open in the third quarter of 2023. The property is owned by Wood Inv...
| Two O.C. Multifamily Properties trade Between Private Investors in Deals Worth Over $12 Mil
Two Orange County multifamily apartment communities traded hands between private investors in separate transactions totaling $12.12 mil. The assets, located in Anaheim and Costa Mesa, have a combined 38 units.
In one of the ...
| Anaheim Apartment Property Sells for $421k/Unit
A 14-unit multifamily community in Anaheim was acquired by a private investor for $5.9 mil ($421k/unit), marking one of the highest prices per unit sale in the city of Anaheim.
The property, located at 129 S. Olive St, sit...
| Huntington Beach Retail Center Sells for $29 Mil
In a recent OC retail trade, Adams Marketplace, a 65.1k sf, top-performing, grocery-anchored center located within coastal Orange County in Huntington Beach, traded for $29 mil ($445/sf).
Built in 1974 and renovated in 2022...
| Orange County Office CRE Market Update – 2nd Qtr. 2023
• The direct market vacancy rate in Orange County is now 12.6%.
• The average asking price on a full-service basis was $2.68/SF.
• During 2Q2023, 270k sf will still be under construction.
| Private Investor Picks Up 30-Unit Res Property in Westminster
A private investor paid $10 mil for a 30-unit ($333k/unit) multifamily community in Westminster. The property, Courtyard Apartments at La Pat Place, is located at 13872 La Pat Place, north of Westminster Blvd on the east side...
| OC Shopping Center Traded in $36.5 Mil Deal
A Newport Beach private investor purchased Bristol Place, a 61.5k sf, multi-tenant shopping center shadow-anchored by Target in Orange County’s South Coast Metro, in a $36.5 mil ($593/sf) transaction. The property was sold by...
| Irvine Office Building Gets New Owner
A 71k sf, Class A office building in Irvine was acquired by an owner-user that intends to occupy shortly after renovations. The property, located at 17900 Von Karman Ave, was sold by Wilshire Capital Partners.
Situated in a ...
| Private Investor Spends $15 Mil on Two SoCal Chick-fil-A Ground Lease Properties
A SoCal-based private investor purchased two Chick-fil-A ground lease assets for $15 mil. The assets are located in the Southern California cities of Palm Desert and Mission Viejo. The blended closing cap rate was 3.83%, mark...
| Recently Renovated OC Office Campus to Be Razed for New Industrial Development
Kearny Real Estate Company and Dune Real Estate Partners plan to redevelop a recently renovated office campus in Santa Ana into a 163k sf state-of-the-art industrial facility. With construction projected to begin in the first...