Western Real Estate Business

SEP 2018

Western Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Western United States.

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C A L I F O R N I A 18 • September 2018 • Western Real Estate Business www.REBusinessOnline.com NKF CAPITAL MARKETS BROKERS SALE OF 105,000 SF OFFICE BUILDING CERRITOS, CALIF. — NKF Capital Markets has negotiated the sale of an office building located at 12800 Center Court Drive South in Cerri- tos. West Coast Capital Partners ac- quired the property from an affiliate of Transpacific Development Co. for an undisclosed price. Built in 2009, the five-story, 105,000-square-foot prop- erty is 91 percent occupied by five ten- ants. Kevin Shannon, Paul Jones, Ken White, Blake Bokosky and Brandon White of NKF Capital Markets repre- sented the seller, while the buyer was self-represented in the 1031 exchange transaction. ATISA INDUSTRIAL COMPLETES 219,571 SF INDUSTRIAL BUILDING TIJUANA, MEXICO — Atisa Indus- trial has completed construction of Diamante, multi-tenant industrial property located in Tijuana, about 20 miles from the San Diego border. Situ- ated within Pacific Industrial Park, the 219,571-square-foot property features 3,892 square feet of office space and a 266-square-foot security booth. Addi- tionally, the building features 28-foot clear heights, 14 docks, two drive-in ramps, 152 car parking spaces and 11 trailer sparking stalls. The Class A property is divisible for up to two ten- ants. LINCOLN PROPERTY ACQUIRES HISTORIC OFFICE BUILDING SAN FRANCISCO — Lincoln Prop- erty Co. has partnered with affiliates of Rockwood Capital to purchase 332 Pine Street, a historic office building lo- cated in San Francisco's Financial Dis- trict. Built in 1912, the 45,000-square- foot property features open floor plans, side-core construction, high ceilings and exposed concrete and brick. Ad- ditionally, the nine-story office build- ing includes a penthouse and rooftop terrace. At the time of sale, a variety of technology and media tenants oc- cupied the property. Kyle Kovac and Mike Taquino of Newmark Knight Frank handled the transaction. Terms of the sale were not disclosed. PLATINUM STORAGE GROUP TO DEVELOP 1,087-UNIT SELF- STORAGE FACILITY IN OAKLAND OAKLAND, CALIF. — Orange Coun- ty-based Platinum Storage Group is developing Storage Direct Oakland, a self-storage facility in Oakland. With construction slated to begin immedi- ately, the four-story, 155,000-square- foot property will feature 1,087 self-storage units. Completion is scheduled for July 2019. Platinum's portfolio comprises 2.5 million square feet of space with a value of about $250 million. CUSHMAN & WAKEFIELD ARRANGES $15.3 MILLION SALE OF RETAIL CENTER SCOTTS VALLEY, CALIF. — Cushman & Wakefield has arranged the sale of Scotts Village, a neighborhood shop- ping center in Scotts Valley. McNel- lis Partners acquired the property for $15.3 million. Located at 227-259 Mt. Hermon Road, the 121,296-square- foot property was developed in 1984. Current tenants include Safeway, CVS/pharmacy, Chase Bank, Mc- Donald's and Taco Bell. Dan Wald and Don LeBuhn (The Wald|LeBuhn Team) of Cushman & Wakefield repre- sented the seller, while the buyer was self-represented the in the deal. LUXO II APARTMENT HOMES ACQUIRES 40-UNIT COMPLEX FOR $21.3 MILLION SAN DIEGO — Luxo II Apartment Homes has purchased Villa Cusma, a 40-unit apartment complex at 1907 Columbia Street in San Diego's Little Italy neighborhood. The price was $21.3 million, more than $500,000 per unit. Raymond Choi of Marcus & Mil- lichap represented the seller, 1907 Co- lumbia Street LLC, and procured the buyer in the all-cash transaction. Built in 2012, Villa Cusma features 24 one- bedroom/one-bath apartments, one two-bedroom/one-bath unit and 15 two-bedroom/two-bath apartments. Additionally, the property features a a gated subterranean parking garage and a 2,475-square-foot, ground-floor retail space leased to Harumama, a sushi and ramen restaurant. HANLEY NEGOTIATES $2.9 MILLION SALE OF SINGLE-TENANT PROPERTY RIALTO, CALIF. — Hanley Invest- ment Group Real Estate Advisors has arranged the sale of a recently constructed retail building located at 1877 N. Riverside Ave. in Rialto. Newport Beach-based Fountainhead Development sold the property to a Chatsworth-based private investor for $2.9 million, or nearly $1,700 per square foot. Bill Asher and Jeff Lefko of Hanley Investment represented the seller, while Ash Joshi of San Fer- nando-based Capital Realty Solutions Inc. represented the buyer in the deal. The Coffee Bean & Tea Leaf occupies the 1,710-square-foot building, which features a drive-thru lane, under a 15- year lease. Visit our Booth @ ICSC Western Division Conference Booth # 908 At the time of sale, the 105,000-square-foot office building located at 12800 Center Court Drive South in Cerritos was 91 percent occupied by five tenants. Villa Cusma in San Diego's Little Italy features 40 apartment units and a ground-floor retail space occupied by Harumama. SEND YOUR NEWS TO western@francemediainc.com

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