Western Real Estate Business

MAY 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 16 • May 2018 • Western Real Estate Business www.REBusinessOnline.com LEE & ASSOCIATES ARRANGES $20 MILLION SALE OF INDUSTRIAL BUILDING IN OCEANSIDE OCEANSIDE, CALIF. — Lee & Associ- ates – North San Diego County has ar- ranged the sale of an industrial build- ing located within Rancho Del Oro Technology Park at 4039 Calle Platino in Oceanside. Rexford Industrial Real- ty acquired the property from San Di- ego-based 6th & K Ltd for $20 million. The building features 143,274 square feet of industrial space. Tim Moore of Lee & Associates represented the seller, while Adam Molnar and Greg Lewis of CBRE represented the buyer in the transaction. NKF ARRANGES 85,653 SF LEASE WITH VALLARTA SUPERMARKETS CANOGA PARK, CALIF. — Newmark Knight Frank (NKF) has arranged an 85,653-square-foot lease with Vallarta Supermarkets at a shopping center in Canoga Park. The grocer will backfill the space formerly occupied by Vons. Mark Baziak and Geoff Foley of NKF arranged the 20-year lease on behalf of the landlord, Auburndale Proper- ties. Springstead Associates represent- ed Vallarta. The grocer is expected to move into the 150,000-square-foot center later this year. Additional ten- ants include T-Mobile, McDonald's and El Pollo Loco. KOELSCH TO BUILD $71 MILLION, 240,000 SF SENIORS HOUSING COMMUNITY NEAR SACRAMENTO ELK GROVE, CALIF. — Koelsch Com- munities has announced plans for Laguna Springs Senior Community, a 240,000-square-foot seniors housing property in the Sacramento suburb of Elk Grove. Groundbreaking is sched- uled for June for a planned opening in December 2019. Development costs were estimated at $71 million. Located on 11 acres, the project will feature The Park at Laguna Springs Independent Living and The Gardens at Laguna Springs Memory Care. The indepen- dent living portion will be a three- story building housing 135 apart- ments plus 16 single-story homes. The memory care portion can house up to 70 residents in various stages of memory loss. Koelsch Communi- ties will manage the property upon completion. The company is develop- ing the project in partnership with RJ Development, with Koelsch Construc- tion acting as general contractor. Judy Koelsch and David Goularte of JSK Design will design the interiors. US STORAGE CENTERS BUYS 483-UNIT SELF-STORAGE FACILITY IN UPLAND UPLAND, CALIF. — US Storage Cen- ters has acquired a self-storage facil- ity located at 1808 W. Foothill Blvd. in Upland. Foothill You-Stor sold the property for an undisclosed price. The 45,452-square-foot property features 483 self-storage units with drive-up access, video monitoring, gated ac- cess and RV/boat/auto storage. US Storage Centers currently owns and operates 43 self-storage facilities in Southern California. Garrett Sholer of Lee & Associates represented the buyer, while Travis Allan, also of Lee & Associates, represented the seller in the deal. MARCUS & MILLICHAP ARRANGES $1.3 MILLION SALE OF RETAIL PROPERTY IN SOUTHERN CALIFORNIA RIVERSIDE, CALIF. — Marcus & Millichap has arranged the $1.3 mil- lion sale of a 13,200-square-foot retail property located at 9741 Magnolia Ave. in Riverside. Brandon Michaels of Marcus & Millichap arranged the transaction on behalf of both the sell- er, a limited liability company, as well as the buyer, 4GT Group LLC. Million People Visit Indio Every Year city of festivals TM LARGEST AND FASTEST GROWING CITY IN EASTERN RIVERSIDE COUNTY, CA indio.org ASK US ABOUT NEW DEVELOPMENT OPPORTUNITIES IN DOWNTOWN INDIO 20 best cities for young families CITY IN THE U.S. FOR LIVE MUSIC 1.4 TOP indio #1 Located within Rancho Del Oro Technology Park in Oceanside, the property features 143,274 square feet of industrial space.

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