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/566807
C A L I F O R N I A www.REBusinessOnline.com Western Real Estate Business • September 2015 • 11 MCGRATH FAMILY SELLS 294,428 SF RETAIL PORTFOLIO IN SAN DIEGO FOR $107.1 MILLION SAN DIEGO — The McGrath Fam- ily has completed the disposition of a portion of its retail portfolio en- compassing 294,428 square feet along Clairemont Mesa Boulevard and Shawline Drive in San Diego's Kearny Mesa submarket. New York-based Clarion Partners and San Diego-based HP Investors acquired the portfolio on behalf of one of the partnership's commingled funds for $107.1 million. Situated on 29 acres, the portfolio con- sists of six single-tenant retail proper- ties and one retail strip center. Tenants at the fully leased portfolio include Walmart, LA Fitness, McDonald's, Food 4 Less, Starbucks Cofee, Veri- zon and Chipotle, among others. Randy LaChance and Mark Caston of Voit Real Estate Services represented the seller in the transaction. The buyer was self-represented in the deal. EMERYSTATION GREENWAY MEDICAL OFFICE BUILDING IN EMERYVILLE RECEIVES $38.5 MILLION IN FINANCING EMERYVILLE, CALIF. — EmerySta- tion Greenway, a 100,000-square-foot medical ofce building in Emeryville, has received $38.5 million in fnanc- ing. The building is located at 5800 Hollis Street in the East Bay biotech- nology research and innovation corri- dor. The newly built space is situated near interstates 580, 880 and 980. The fxed-rate loan was secured by HFF's Bruce Ganong and Jordan An- gel, who worked on behalf of the bor- rower, Wareham Development. It was placed with Thrivent Financial for Lu- therans. LOS ANGELES RETAIL PROPERTY SELLS FOR $3.1 MILLION LOS ANGELES — A 6,789-square-foot retail property in Los Angeles has sold to Carthay Pacifc LLC for $3.1 mil- lion. The building is located at 6001- 6011 W. Pico Blvd. The buyer plans to turn this space into a new multifam- ily development. The two retail ten- ants are on short-term leases. Carthay was represented by Michel Hibbert of Charles Dunn Company. The seller, 6001-6011 W. Pico Boulevard LLC, was represented by David Aschke- nasy of Commercial Asset Group. SYCAMORE TERRACE SHOPPING CENTER IN SAN DIEGO CHANGES HANDS SAN DIEGO — U.S. Property Trust has acquired Sycamore Terrace, a 10,578-square-foot shopping center in the San Diego submarket of Vista, for an undisclosed sum. The center is located at 320 Sycamore Ave. It is anchored by Target. Other notable tenants at Sycamore Terrace include Panda Express, Sprint, Pacifc Dental and the U.S. Army, among others. The sale was brokered by CBRE. PHILLIPS EDISON & CO. ACQUIRES CENTRAL VALLEY MARKETPLACE CERES, CALIF. — Phillips Edison & Co. has acquired Central Valley Mar- ketplace, an 81,897-square-foot shop- ping center in Ceres. A 59,809-square-foot Food 4 Less anchors the center. Additional ten- ants include Starbucks Cofee, Game- Stop, H & A Wireless, Panda Express, Round Table Pizza, Wingstop, Bel Air Nails and Subway. THE COMMODORE APARTMENTS IN BEVERLY HILLS SELLS FOR $4.7 MILLION BEVERLY HILLS, CALIF. — The Com- modore, a 14-unit apartment complex in Beverly Hills, has sold to Paul Ling for $4.7 million. The community is lo- cated at 1830 N. Cherokee Ave. It is sit- uated just three blocks from the Gold- en Triangle on South Rexford Drive. Kevin Kawaoka of NAI Capital repre- sented both the buyer and seller, Tower Ventures LLC, in this transaction. The building is located at 5800 Hollis Street in the East Bay biotechnology research and innovation corridor. At CBRE, WE KnoW REtAil. Please visit us at ICSC Western Conference & Deal Making San Diego Convention Center Leasing Suite 1739 September 16 - September 18, 2015 San Diego, CA Jeff Moore Senior Managing Director +1 949 725 8600 jeff.moore@cbre.com cbre.com/retail