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 18 • May 2018 • Western Real Estate Business www.REBusinessOnline.com COMMERCIAL ASSET GROUP BROKERS $13.7 MILLION SALE OF MEDICAL OFFICE BUILDING IN MISSION HILLS MISSION HILLS, CALIF. — Commer- cial Asset Group has arranged the acquisition of a medical office build- ing located at 11155-11166 Sepulveda Blvd. in Mission Hills. Porter Ranch, Calif.-based San Fernando Profession- al Building sold the property to a Bur- bank, Calif.-based family investment group for $13.7 million. Facey Medical Group, a division of Providence Hos- pitals, occupies the 33,438-square-foot building. David Aschkenasy of Com- mercial Asset Group represented the buyer, while Mark Oliver of Realty Executives Valencia represented the seller in the deal. MARCUS & MILLICHAP BROKERS $9.2 MILLION SALE OF RETAIL PROPERTY SANTA CLARITA, CALIF. — Marcus & Millichap has negotiated the sale of a multi-tenant retail property located at 23460 Cinema Drive in Santa Clarita. A local investor purchased the prop- erty from a limited liability company for $9.2 million. At the time of sale, the 32,343-square-foot property was fully occupied. Built in 1997, the property consists of 13 suites anchored by Va- lencia Laser Blast. Marty Cohan and Neda Rassouli of Marcus & Millichap represented the seller in the deal. LEE & ASSOCIATES NEGOTIATES $3.1 MILLION ACQUISITION IN LOMPOC LOMPOC, CALIF. — Lee & Associ- ates has arranged the purchase of a two-story industrial building locat- ed at 1641 W. Central Ave. in Lom- poc. An undisclosed buyer acquired the property for $3.1 million. The 56,560-square-foot property features a 300-seat auditorium, large banquet hall, kitchen space and office space, as well as 30,000 square feet of manu- facturing and distribution space with three loading docks, six roll-up doors and 100 spaces available for parking. Paul Davies of Lee & Associates rep- resented the buyer in the deal. UniFirst Corp., Novella Plastics and Westcore Properties each acquired an industrial building at Bridge Point Santa Fe Springs in Los Angeles County. Valencia Laser Blast anchors the 32,343-square-foot shopping center at 23460 Cinema Drive in Santa Clarita. BRIDGE DEVELOPMENT SELLS THREE INDUSTRIAL BUILDINGS TOTALING 224,000 SF IN SANTA FE SPRINGS SANTA FE SPRINGS, CALIF. — Bridge Development Partners has completed the disposition of three industrial properties totaling 224,000 square feet at Bridge Point Santa Fe Springs in Los Angeles County. Two of the buildings were completed as build-to-suit de- velopments for the companies that acquired them, while the third was sold to a real estate investment firm. UniFirst Corp. acquired the 74,120-square-foot Building I, located at 13101 Rosecrans Ave. Paul Sablock and Christopher Lawrence of JLL represented the buyer. Novella Plastics purchased 75,331-square-foot Building II, located at 13123 Rosecrans Ave. Michael Lee of Redpoint Realty represented Novella Plastics in the deal. Westcore Properties ac- quired the 74,038-square-foot Building III, located at 13915 Mary- ton Ave., upon completion of the shell. Westcore leased the prop- erty to Carroll Tire Co., a division of Sumitomo Tire. Scott Heaton and Chris Sheehan of Colliers International represented Bridge De- velopment in all three transactions, as well as Westcore Properties. Financial terms of the deals were not disclosed. $45,000,000 MERIDIAN AT SUNRISE VILLAGE PUYALLUP, WA | 226,054 SF CMBS $37,000,000 SAHARA CENTER LAS VEGAS, NV | 222,883 SF CMBS $17,200,000 RETAIL PLAZA HENDERSON, NV | 117,914 SF CMBS $7,700,000 RICHMOND CITY CENTER RICHMOND, CA | 73,992 SF BANK - BRIDGE LOAN To speak to your local expert, visit northmarq.com/offices W E S T E R N R E G I O N DENVER | LAS VEGAS | LOS ANGELES | PHOENIX SAN DIEGO | SALT LAKE CITY | SAN FRANCISCO | SEATTLE NORTHMARQ CAPITAL, LLC - NEVADA LIC. #3728 C O M M E R C I A L R E A L E S T A T E D E B T , E Q U I T Y & S E R V I C I N G RECON 2018 ATTENDEES VISIT US AT BOOTH FP15 IN THE FINANCE PAVILION

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