(Save the date: RealShare Los Angeles comes to the Hyatt Regency Century Plaza in Los Angeles, CA, on March 27, 2013.)
ORANGE, CA-Granite Properties has acquired Orange City Square, a class-A asset at 750-840 The City Dr. here, from CBRE Global Investors for an undisclosed amount. The property, Granite’s first acquisition in Southern California, contains one eight-story and two four-story office buildings and a one-story retail building for a total of 386,167 rental square feet. Amenities include three restaurants, a fitness center and a state-of-the-art conference center. The LEED-Gold-certified square was recently updated with new elevators and lobby upgrades.
CHULA VISTA, CA- BRE Properties Inc. has sold Terra Nova Villas and Canyon Villa, located at 440 East H St. and 601 Telegraph Canyon Rd. here, for $77 million to Jackson Square Properties LLC. Cushman & Wakefield‘s Multifamily Advisory Group, led by Ed Rosen, John Chu, and Alejandro Lombrozo, facilitated the transaction.
LOS ANGELES-MPG Office Trust Inc. has sold its remaining 20% joint-venture interest to its joint-venture partner, an affiliate of Beacon Capital Partners LLC. The joint venture owns One California Plaza, located Downtown, and Cerritos Corporate Center, located in Cerritos, CA. Net proceeds from the transaction totaled approximately $41 million and will be used for general corporate purposes.
BEVERLY HILLS, CA-Kennedy Wilson and one of its investment partners has acquired a loan with an unpaid principal balance of €120 million. The loan is secured by an office building and adjacent three-acre site in Dublin, Ireland. The building is 100% leased on a long-term basis. Additionally, in partnership with a European financial institution, the company has acquired a large UK-based commercial-loan portfolio secured by real estate. The property is located in the South Docklands, which has established itself as the principal office district in Dublin.
LAKEWOOD, CO-Pathfinder Partners LLC has purchased two of the four buildings—spanning 49,000 square feet of functional office, laboratory and warehouse space—within the Garrison Business Park, a fully-leased, class-B, flex industrial and office complex at 9195-9197 W. 6th Ave. here from the real estate-owned department of a CMBS special servicer. Both buildings are currently leased to three tenants. Brad Cohen and Larry Thiel of Transwestern‘s Denver office advised on the transaction.
WEST LOS ANGELES, CA-Mayor Antonio R. Villaraigosa and Frost/Chaddock Developers LLC broke ground recently on the Motor Avenue mixed-use project, a transit-oriented development at 3425 S. Motor Ave., blocks from the first station stop of Expo Line Phase II at Motor Avenue and National Blvd. The project will include 115 rental apartments with ground-floor café space, landscaped courtyards, and rooftop gardens and aims to create an approachable housing option for current and future residents in this submarket. The mixed-income project will also include 17 low-income units reserved for low-income households.
HAYWARD, CA-Alameda Electrical Distributors Inc. has signed a 10-year, roughly 67,524-square-foot lease at 3875 Bay Center Pl. in PS Business Park here with PSB Northern California Industrial Portfolio LLC. Todd Severson, SVP with Colliers International in Oakland, CA, and Mark Triska, SVP with the firm in Pleasanton, CA, represented the tenant, while Greig Lagomarsino and Joe Yamin with the Oakland office represented the owner.
BEVERLY HILLS, CA-Alloy Digital has signed a new 34,003-square-foot office lease at Wilshire Robertson Plaza, a 118,000-square-foot office complex at 8750 Wilshire Blvd. here. The space will be used for the company’s regional office. Jones Lang LaSalle team members Craig Kish, Alexander Chudnoff, and Dan Turkewitz represented the tenant, while the landlord, Amir Development, was represented by Michael Geller, Josh Bernstein, and Gayle Landes of First Property Realty Corp.
GREENWOOD VILLAGE, CO-Benefit Concepts of Colorado, dba Auctoris, has signed a lease renewal for 5,278 square feet in the 63,488-square-foot office building at 5350 S. Roslyn St. in this suburban Denver town. In the transaction, Auctoris was represented by Tim Callahan and Preston Dunn of Mohr Partners, while Westcore Properties was represented by its own John Fefley, senior director of leasing.
LOS ANGELES-HFF has arranged $5.5 million in financing for Westwood Center, a 34,136-square-foot, fully leased shopping center at 2180 Westwood Blvd. here, on behalf of borrower Westwood Center LLC. The loan is a seven-year, 5% fixed-rate loan used to refinance existing debt. The team representing the borrower was led by managing director James Fowler.
SANTA CLARA-The Santa Clara County Association of Realtors has hired Neil Collins as CEO beginning January 2, 2013. Collins has been the CEO of the Campbell Chamber of Commerce for the past three years. Prior to that, he was the president of the Downtown Campbell Business Association, a manager at a large company and a business owner.
LAS VEGAS-Colliers International – Las Vegas has hired Vincent Schettler as a SVP within the company’s land division. Schettler’s areas of expertise include land acquisition, negotiation and project management. He will focus on the sale and acquisition of land in Southern Nevada and Southern California. He joins Colliers from Focus Property Group Inc., where he served as the EVP of sales and acquisitions for 16 years.