| ZDI Inc Buys 29k sf Retail Property in Bakersfield
A SoCal-based ZDI Inc entity paid $8.1 mil for a 29.4k sf ($275/sf), 100% leased retail asset in Bakersfield. The property has long been anchored by a major office supply retailer since it was built in 2005, and the remaining...
| Ventura County Retail Center Lands $24 Mil Refi
Village at Moorpark, a 129k sf suburban retail center in the Ventura County city of Moorpark, was just refinanced by its private investor owner with a new loan for $24 mil. The refi was arranged by Gantry.
The property, loc...
| Universe Holdings Pays $14.5 Mil for Its Second Ventura Multifamily Property
Universe Holdings has acquired Woodland Manor, a 38-unit multifamily community in Ventura, in an off-market transaction for $14.55 mil ($383k/unit). Built in 1969, the property offers all two-bedroom/two-bath apartments in a ...
| Pismo Beach Hotel Lands $50 Mil Refi
Sonnenblick-Eichner Company has arranged $50 mil of long-term, fixed-rate first mortgage financing for the Cliffs Hotel & Spa, a 162-room, full-service, luxury boutique hotel located on a bluff overlooking the Pacific Ocean i...
| Westlake Village Office Asset Trades in $35 Mil Deal
The Harkham Family has purchased 2625 Townsgate, a 132k sf, Class A creative office property in Westlake Village, for $35.1 mil, or $266/sf. The acquisition was part of an exchange following the buyer’s $200 mil sale of 360 N...
| Santa Paula Industrial Property Trades for $146/sf
In a recent SoCal industrial sales comp, a 40k sf facility in Santa Paula sold for $5.3 mil, or $146/sf. The property is located at 201 S Hallock Dr, next to Lemonwood Industrial Park and minutes from Highway 126.
Built in 1...
| Ground Lease for Two-Restaurant Property in San Luis Obispo Sells for Over $3.7 Mil
The ground lease (land ownership) of a 3.6k sf, two-tenant, two-building property in San Luis Obispo traded in a recent $3.725 mil transaction. We’re told this sale sets a record-low cap rate of 4.84% and highest price per sq...
| Snyder-Diamond Corporation Leases 76k sf Simi Valley Facility
Snyder-Diamond Corporation, a distributor of kitchen appliances and bathroom fixtures, inked a 10-year, $13.9 mil lease for a 76k sf ($1.52/sf/mo) industrial building in Simi Valley. The property, located at 2390 Ward Ave, in...
| SoCal Office Markets Seeing Flight to Low-Mid-Rise Buildings
This report provided by NAI Capital Commercial
As tenants renewing leases question what type of space and how much they’ll truly need, a flight to low-mid-rise office building space is playing out in Southern California mark...
| Pismo Beach Hotel Property Lands $30 Mil Refi
Inn at the Pier, a 104-room, full-service, luxury boutique hotel located one-half block from the Pacific Ocean in Pismo Beach, was refinanced by its private investor owner with a new long-term loan for $30 mil. The non-recour...
| The Vernon Group to Start Work on 167-Unit Res Project in Santa Maria
The Vernon Group has secured $34.8 mil in financing for the construction of the 167-unit Elements Apartments in Santa Maria, CA. The loan was provided by Thorofare Capital Inc.
Elements boasts a transit-oriented location, wi...
| Majestic Asset Management Closes $50 Mil Industrial Campus Buy in Goleta
Majestic Asset Management purchased a six-building, 194.6k sf industrial / R&D campus on 11.9 acres in Goleta for $50.7 mil ($260.50/sf) in in an off-market transaction. The asset was part of a portfolio of commercial propert...
| Amazon-Occupied Facility in Ventura County Sells for $50 Mil
A 202.4k sf distribution center in the city of Moorpark , sold for $50.7 mil, or $250/sf. The facility, located at 6000 Condor Dr, is 100% leased to Amazon.
The distribution center, situated in proximity to U.S. Route 101 an...
| Aquastar Pool Products Inc Buys 83k sf Industrial Facility in Ventura
Aquastar Pool Products Inc acquired an 83.4k sf industrial building in Ventura for $11.05 mil, or $132 per square foot. The property, located at 4544 McGrath St, was sold by Pacific Prime Properties.
The property was built i...
| Dedeaux Properties Acquires 12 Acres within Tejon Ranch Commerce Center
Dedeaux Properties has acquired a 12-acre land parcel entitled for up to 250k sf of industrial development within the Tejon Ranch Commerce Center (TRCC) in Kern County’s Tejon Ranch, approximately 75 miles north of Downtown L...
| Ventura Office Campus Trades for $24.3 Mil
Buenaventura Financial Center, a four-building, 162.7k sf garden-style office campus in Ventura, was purchased by a Los Angeles-based private investor for $24.3 mil ($149/sf). The property sits on 7.7 acres at 255, 260, 290 a...
| CGI+ Real Estate Strategies Wraps Up $50 Mil Multifamily Buy in Oxnard
CGI+ Real Estate Strategies acquired Alturas, a 170-unit multifamily community located in Oxnard, for $50.7 mil ($298k/unit) in an off-market transaction. The deal represents CGI’s second suburban purchase in the last 11 mont...
| Stream Realty Partners and QuadReal Property Group Break Ground on 344k sf Simi Valley Industrial Project
Stream Realty Partners and joint-venture partner QuadReal Property Group have broken ground on Tapo Canyon Commerce Center, a five-building, 344k sf Class A industrial complex located at 1800 Tapo Canyon Dr in Simi Valley.
| Two Oxnard Industrial Properties Trade in Deals Worth Over $15 Mil
Two industrial buildings totaling 108.6k sf in Oxnard sold in separate transactions for a combined price of $15.7 mil. Both buildings are in key warehouse/distribution West Ventura County locations.
In one of the deals, RKN ...
| Commercial Financing Briefs
CBRE - Bill Chiles, Scott Peterson and Morgon Fraser of CBRE’s debt and structured finance arranged a $47.6 mil loan for the construction of Geo Queen Anne, a 168-unit multifamily community in Seattle, on behalf of the owner ...