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/888015
C A L I F O R N I A & H A WA I I 12 • October 2017 • Western Real Estate Business www.REBusinessOnline.com CENTERPOINTE LA PALMA BUSINESS PARK SELLS FOR $106.1 MILLION CERRITOS, CALIF. — Centerpointe La Palma, a 525,560-square-foot busi- ness park in the Cerritos submarket of La Palma has sold to a joint venture between Greenlaw Partners and West- brook Partners for $106.1 million. The 10-building business park is located at 1, 4, 6, 18, 20, 22, 24, 26, 28 and 30 Centerpointe Drive. Centerpointe La Palma is situated near the 91, 5 and 605 freeways in north Orange County. It was 89 percent leased at the time of sale. Notable tenants include the State of California, Tesoro, Honey- well, United Healthcare, University of Phoenix and St. Joseph Health. The JV represented itself, while NKF's Kevin Shannon, Paul Jones and Blake Bo- kosky represented the seller, an East Coast-based pension fund advisor, in this transaction. KEYSTONE MORTGAGE SECURES $60 MILLION REFINANCING FOR PLAZA DE LA PAZ IN LAGUNA NIGUEL LAGUNA NIGUEL, CALIF. — Key- stone Mortgage Corp. has secured a $60 million refinancing for Plaza de la Paz, a 295,000-square-foot shopping center located in the Orange County community of Laguna Niguel. The center is home to 45 tenants includ- ing The Home Depot, Sprouts Farm- ers Market, CVS/pharmacy and Off Broadway Shoes. Keystone placed the 15-year, fixed-rate loan through an in- surance company on behalf of the bor- rower, a local family office. CASPER TO OPEN 15 NEW RETAIL CONCEPT SHOPS ACROSS NORTH AMERICA LOS ANGELES — Online sleep retail- er Casper has launched a multi-city retail expansion in more than a doz- en locations across North America, including Los Angeles. This marks Casper's first significant investment in a company-owned retail presence across the U.S. The pop-up shops are scheduled to launch in October 2017 and will be open through spring of 2018 in Los Angeles, New York, Chi- cago and other major metropolitan areas. CLEARWATER LIVING TO OPEN 136-UNIT INDEPENDENT LIVING COMMUNITY OXNARD, CALIF. — Clearwater Liv- ing is preparing to open Clearwater at RiverPark, a 136-unit independent liv- ing community in Oxnard. Presales are currently underway, with a planned opening of January 2018. Residents who pre-select an apartment and move in within 30 days of the grand open- ing will pay less in "community fees" and also receive a discount on the first month's rent. Apartments range in size from 610 to 1,040 square feet. The prop- erty is located near malls, art museums and beaches. ALLIANZ PROVIDES $55 MILLION REFINANCING FOR RIVERSIDE COLD STORAGE FACILITY RIVERSIDE, CALIF. — Allianz Real Estate of America has provided $55 million to refinance a 507,000-square- foot cold storage facility in River- side. The property is located at 1001 Columbia Ave. The asset was devel- oped in 2011 on a 25.3-acre site within Hunter Park. It is fully leased to an in- vestment-grade credit tenant. The 10- year, fixed-rate loan will refinance the property's existing loan. HFF's Kevin MacKenzie and AJ Manas represented the borrower. Centerpointe La Palma boasts a tenant roster that includes the State of California, Tesoro, Honeywell, United Healthcare, University of Phoenix and St. Joseph Health.