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/818922
C A L I F O R N I A 8 • May 2017 • Western Real Estate Business www.REBusinessOnline.com AFFIRM LEASES 86,225 SF OF OFFICE SPACE IN SAN FRANCISCO SAN FRANCISCO — Financial tech- nology company Affirm has signed an eight-year lease for 86,225 square feet of office space in San Francisco. The space is located at 650 California Street. Affirm will occupy floors eight through 12, as well as the building's annex. It is scheduled to relocate its headquarters from nearby 633 Folsom Street this August Co-working com- pany WeWork also recently leased space at this property. The landlord is Columbia Property TruStreet. ANDA REALTY CAPITAL BUYS PASADENA OFFICE BUILDING PASADENA, CALIF. — Anda Realty Capital has purchased a 54,961-square- foot office building in Pasadena for an undisclosed sum. The seven-story building is located at 225 East Colora- do Blvd. It is situated across the street from the Paseo Colorado mixed-use development and less than two blocks from Old Town Pasadena. The prop- erty was originally built in 1912 for Citizens Savings Bank. The building's original marble walls, wood paneling and brass finishes have been com- pletely restored in recent years. JLL's Tom Bohlinger and Jon Lange rep- resented both the buyer and seller, Barker Pacific Group, in this transac- tion. The firm's Brian Halpern and Alex Kane secured a bridge loan for the buyer. SARES REGIS SIGNS FOUR INDUSTRIAL LEASES AT MEREDITH INTERNATIONAL CENTRE IN ONTARIO ONTARIO, CALIF. — Sares Regis Group has signed four new leases for distribution buildings within the Mer- edith International Centre in Ontario. The leases contain a total of 972,000 square feet. The project is situated on 150 acres near Ontario International Airport. All of the lease agreements range from five to 10 years. Five out of the seven buildings at the project are now fully leased. The two remaining build- ings contain 575,000 square feet and 398,000 square feet. New leases were signed with Arva- to, which leased a 552,000-square-foot building; Metro Air Service, which nabbed a 155,000-square-foot build- ing; Wheel Group, which absorbed a 138,000-square-foot building; and Metropolitan Logistics Services, which took a 127,000-square-foot building. Sares Regis Group was represented in the lease negotiations by Joe McKay and Chris Morrell of Lee & Associates. Meredith International Centre totals 243 acres and includes plans for 1.1 million square feet of office and retail space and 800 apartments. DIVCOWEST ACQUIRES SAN JOSE OFFICE BUILDING SAN JOSE, CALIF. — DivcoWest has acquired 2 West Santa Clara, an 83,896-square-foot historic office building in Downtown San Jose, for an undisclosed sum. The building is situated at the corner of West Santa Clara and North First streets. The property was built in 1910 and expanded in 1927 with the addition of a nine-story annex. The asset has been extensively renovated within the past few years. DivcoWest plans to carry out a full rehabilitation to provide smaller tenants with the opportunity to have a full-floor presence. The space served as one of the first examples of steel-framed office con- struction in California. It was origi- nally the home of First National Bank. The property was also the headquar- ters for Bank of the West and, later, lumber company Pacific States Indus- tries. Ritchie Commercial represented the buyer and seller in this transaction. The acquisition is part of a joint ven- ture with an investment group led by Gary Dillabough. THE CITY OF ONTARIO IS BUILDING A BETTER TOMORROW BY WORKING WITH ITS PARTNERS TO DEVELOP A COMPLETE COMMUNITY. VISIT US AT BOOTH C2228 AT IC SC RECON TO LEARN ABOUT UPCOMING PROJECTS! WWW.ONTARIOTHINKSBUSINE SS .COM M AYO R PAU L S . L E O N • M AYO R P R O T E M D E B R A D O R S T- P O R A DA C O U N C I L M E M B E R S A L A N D . WA P N E R , J I M W. B O W M A N A N D R U B E N VA L E N C I A Affirm will occupy floors eight through twelve of 650 California and the annex of the building.