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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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• Commercial Real Estate Financing Briefs
3/11/24
MARCUS & MILLICHAP CAPITAL CORPORATION - Zack Metzner, Daizy Gomez, and Linsey Farrahi with Marcus & Millichap Capital Corporation arranged $96 mil for the refinancing of three multi-tenant retail centers located in North Hol...
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• Bakersfield Multifamily Property Goes for $16.5 Mil
3/07/24
Vantage Point Apartments, a 144-unit multifamily community in Bakersfield, was acquired by a Central Valley-based investor, in a $16.5 mil ($114.6k/unit), off-market transaction.
Built in 1985, the garden style community sit...
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• FPA Multifamily Acquires Ventura County Res Portfolio in $153 Mil Transaction
2/29/24
A two-property, 409-unit multifamily portfolio in Ventura County traded hands in a recent transaction worth $153 mil, or $374k/unit. The deal includes Oakview Apartment Homes, a 242-unit asset built in 1970 in Westlake Villa...
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• Newly Constructed Chase Bank Building in Bakersfield Sells for Over $800/sf
2/21/24
A newly constructed, 3.6k sf single-tenant property occupied by Chase Bank with a drive-thru ATM in Bakersfield traded hands in a $2.93 mil ($814/sf) transaction. Chase is on an absolute triple-net ground lease.
Constructed ...
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• Residents are Moving into New Kennedy Wilson Master-Planned Res Community in Camarillo
2/21/24
Anacapa Canyon, a new master-planned community developed by Kennedy Wilson in Camarillo, has been completed with the first residents moving in. The development consists of 310 market-rate apartments, 109 for-sale homes, 170 i...
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• Work Underway on Nestle USA’s New 700k sf Distribution Center at Tejon Ranch
1/24/24
Construction is underway on a new distribution center for Nestlé USA Inc, the world’s largest food and beverage company with a robust U.S. footprint. The new multi-story building, which will be more than 700k sf, will be loca...
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• Pricing Pressures Illuminate the Balancing Act in Southern California's Office Real Estate Transition
1/03/24
This report was provided by real estate services firm N.A.I. Capital Commercial
Toward the yearend, Southern California witnessed a decline in office building sales, signaling a shift in individual markets. The slowdown in s...
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• New SoCal Raising Cane’s Goes for Over $1,600/sf
12/20/23
A brand-new construction, 3.2k sf single-tenant Raising Cane’s Chicken Fingers Double Drive-Thru restaurant in Santa Maria sold for $5.1 mil, or $1,608/sf. The property is within Enos Ranch, considered to be Santa Maria’s pre...
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• STG Capital Partners Picks Up 17 Acres in Paso Robles for Res Development
12/19/23
STG Capital Partners has acquired 17 acres of land located at 3138 Linne Road in Paso Robles, CA for $16.95 mil. The company will begin immediately on the development of 214 build-to-rent homes with completion planned for su...
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• FPA Multifamily Closes $171 Mil Acquisition of Two Thousand Oaks, CA Res Communities
12/15/23
FPA Multifamily purchased a two-property, 399-unit multifamily portfolio in Thousand Oaks, CA in a $171.25 mil transaction. FPA made the buy on behalf of their Core Plus Fund V, which has acquired $1.9 bil of assets.
The pro...
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• County of Ventura Closes $14.9 Mil Buy of Thousand Oaks Building
12/13/23
The County of Ventura acquired a vacant 98.8k sf commercial building in Thousand Oaks in a recent $14.9 mil ($151/sf) transaction. The County plans to use the building, located at 2400 Conejo Spectrum, for its Fire Department...
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• Santa Maria Luxury Res Community Trades
12/11/23
Azure, a 318-unit, luxury garden-style apartment community in the SoCal city of Santa Maria, has traded hands. While we’ve not been able to confirm the buyer or the price, we’ve heard that the buyer was Afton Properties, whic...
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• NewMark Merrill Companies Buys 172k sf Retail Center in Thousand Oaks
12/04/23
NewMark Merrill Companies has acquired a 172k sf retail center located at 145 W. Hillcrest Drive in Thousand Oaks. The asset, renamed the Collection at Janss Marketplace, was sold by Seritage Retail Group.
The center is adj...
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• Newmark Awarded Leasing Assignment for Oxnard Industrial Development
11/29/23
Stream Realty Partners has awarded Newmark the leasing assignment for 101 Logistics Center, a fully entitled, 750k sf, four-building, Class A state-of-the-art industrial project located on Sakioka Dr in Oxnard. Stream purchas...
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• Bakersfield Multifamily Property Traded in a Deal that Works Out to $139k/Unit
10/25/23
Cedar Oaks Apartments, a 98-unit multifamily community in Bakersfield, was sold in a recent $13.6 mil ($138.8k/unit) transaction. According to CoStar, this sale represents the 2nd largest transaction this year in Bakersfield....
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• Work Finished on Interactive Learning Pavilion at UC Santa Barbara
9/14/23
Construction has wrapped up on a new Interactive Learning Pavilion on the campus at UC Santa Barbara. The four-story, 95k sf structure was built by C.W. Driver Companies. LMN Architects designed the project.
The new facility...
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• Ventura County's Industrial Market Faces Space Shortage in Q2 2023
8/07/23
This report provided by real estate services firm NAI Capital Commercial
MARKET OVERVIEW
In Q2 2023, the industrial market in Ventura County experienced a notable decrease in vacant space by 9.1% compared to Q1 2023. The hi...
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• Commercial Real Estate Financing Briefs
7/07/23
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...
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• Ventura County Industrial Vacancy Rate Rose 2.7% in Second Qtr 2023
7/06/23
This 2nd quarter 2023 update provided by real estate services firm Kidder Mathews
MARKET HIGHLIGHTS
• Direct vacancies rose to 2.7%, steady quarter-over-quarter.
• Direct asking lease rates increased to $1.23/sf NNN from $1...
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