Western Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Western United States.
Issue link: https://westernrealestatebusiness.epubxp.com/i/732258
C A L I F O R N I A & H A WA I I www.REBusinessOnline.com Western Real Estate Business • October 2016 • 25 KARMA AUTOMOTIVE LEASES 262,000 SF MANUFACTURING FACILITY IN IRVINE IRVINE, CALIF. — Karma Automo- tive has leased a 262,000-square-foot manufacturing facility in Irvine. The facility is being developed at 9950 Je- ronimo on the site of the former Ka- wasaki USA headquarters. Karma will be relocating from near- by Costa Mesa. Bixby Land Company acquired the space from Kawasaki in 2015 for $44.2 million. It has since been rebranded as creative work envi- ronment Habitat. Karma Automotive is owned by Wanxiang Group, which purchased Fisker Automotive's assets in 2014. The automotive company was represented by Kevin Leonard and George Okita of California Com- mercial Real Estate Services. CBRE's Gregg Haly and Jeff Carr represented Bixby in this lease transaction. MBK ACQUIRES 109-UNIT COMMUNITY IN ANTIOCH ANTIOCH, CALIF. — MBK Senior Living has purchased The Commons at Dallas Ranch, a 109-unit assisted living and memory care community in Antioch, for an undisclosed price. The acquisition comes despite the recent resignation of the company's president, Terry Howard, in August. The seniors housing developer and operator has commenced its search for Howard's replacement. In the last month, MBK also as- sumed operations of five Capitol Se- niors Housing-owned communities. Those communities include Fairview Commons in Costa Mesa, Calif., and four in metro Seattle: The Creekside, Island House, Mountainlake Terrace Plaza and Northgate Plaza. MBK Senior Living's portfolio of owned and managed communities now includes a total of 2,465 units within 22 independent, assisted living and memory care communities in Ari- zona, California, Colorado, Utah and Washington. PACIFIC COAST COMMERCIAL BROKERS ACQUISITION OF RETAIL PROPERTY IN NATIONAL CITY NATIONAL CITY, CALIF. — Pacific Coast Commercial arranged the ac- quisition of a drive-thru building and lot located at 1825 Highland Ave. in National City. Sire Trust ac- quired the 800-square-foot building and 10,125-square-foot site from Of- ficer Family Partnership for an undis- closed price. The building is occupied by Weinerschnitzel. Martin Alfaro of Pacific Coast Com- mercial represented the buyer, while Steve Rotsart of Coldwell Banker West represented the seller in the deal. MERIDIAN CAPITAL ARRANGES $74.7 MILLION IN FINANCING FOR ADAGIO AT SOUTH COAST IN SANTA ANA SANTA ANA, CALIF. — Meridian Capi- tal Group has arranged $74.7 million in acquisition and recapitalization financ- ing for the 349-unit Adagio at South Coast in Santa Ana. The community is located at 3124 South Main Street. The acquisition loan features four years of interest-only payments dur- ing the initial term, followed by an extension option. The transaction was negotiated by Meridian's Seth Gross- man and Sarah Kuebler on behalf of Decron Properties. It was provided by a balance sheet lender. San Carlos Business Park is situated in the mid-peninsula market with ac- cess to Caltrain, major freeways and downtown San Carlos. CBRE'S Bob McSweeney repre- sented the LLC, while the firm's Seth McKinnon, Scott Prosser, Joe Moriar- ty, Sean Sullivan and Tyler Myerdirk represented the seller, Black Mountain Properties, in this transaction. RIVERSIDE PLAZA SIGNS THREE NEW RETAILERS RIVERSIDE, CALIF. — Riverside Pla- za has signed three new retailers to the retail center in Riverside. Carter's Babies & Kids signed a lease for 4,200 square feet; Ono Hawaiian BBQ inked a deal for 3,005 square feet; and Great Shakes leased 1,193 square feet. Additional tenants at Riverside Pla- za include Marshalls, Chico's, Regal Stadium Plaza 16, Trader Joe's, The Coffee Bean & Tea Leaf, Home Care Assistance and Nothing Bundt Cakes. S O M E T H I N G S G E T B E T T E R W I T H A G E The SIOR designation has distinguished leaders in industrial and office real estate services for 75 years. When only the best will do, SIOR members are the key to your success. www.sior.com