(Save the dates: RealShare Apartments East comes to the Hyatt Regency in Miami, FL, on February 26, and RealShare Los Angeles comes to the Hyatt Regency Century Plaza in Los Angeles, CA, on March 27.)
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IRVINE, CA-KTGY Group Inc. Architecture + Planning won awards at three different ceremonies during the National Association of Home Builders International Builders’ Show in Las Vegas recently. The firm earned a platinum award as well as gold and silver awards and a special Innovation award. These awards honor the firm’s wide range of capabilities and innovation in single-family attached, detached and multifamily residential communities. These projects also serve as a preview of design trends home buyers and renters will see over the next few years.
COSTA MESA, CA-MemorialCare Health System in Southern California is moving its headquarters to a 15-acre corporate campus the healthcare provider purchased at 1588 South Coast Dr. here for an undisclosed sum. The transaction is the largest headquarters purchase over the last year by an Orange County-based company. The new campus and 180,000-square-foot headquarters will accommodate the health system’s rapid growth in Orange and Los Angeles counties and bring together teams from throughout the health system currently spread over several locations. Tim Helgeson of Newmark Grubb Knight Frank was an advisor on the transaction.
COMPTON, CA-Marcus & Millichap Real Estate Investment Services has arranged the sale of the Crystal Casino Hotel, a 250-room, nine-story, full-service hotel and casino at 123 East Artesia Blvd. here, for $16.5 million or $66,000 per room, to a China-based investment group. The seller will lease back the ground floor of the hotel and retain operation of the casino, restaurant and bar, and the buyer will renovate hotel lobby, the guestrooms and the meeting space. Gordon Allred, VP investments and senior director of M&M’s national hospitality group in Ontario, CA, represented the seller, a regional casino operator. The property includes approximately seven acres of excess commercially zoned vacant land for future development. Hotel business is closed during the renovation, while the casino and restaurant remain open. Reopening of the hotel is scheduled for the summer of 2013.
LONG BEACH, CA- Apparel maker Providence Industries has purchased a 91,145-square-foot building at Pacific Pointe at Douglas Park here for approximately $12.7 million from SARES•REGIS Group. The building is the first of seven the developer is building in the park, which is 677,142 square feet on 33.6 acres adjacent to Long Beach Airport. SRG was represented by Brian DeRevere in CBRE‘s Orange, CA, office, and John Schumacher at CBRE’s South Bay office.
HENDERSON, NV-LBG Realty Advisors LLC, in partnership with an affiliate of Aviva Investors North America Inc., has purchased the majority and controlling interest in the Home Depot building, which is part of the Sunset Plaza shopping center at the Sunset Rd. on and off ramps of US 95 here, from Santa Monica, CA-based SMA Ltd. for an undisclosed price. The acquisition also included an undeveloped pad which can accommodate an additional approximately 6,000 square foot building.
MONTECITO, CA-Clarice Clarke, recently named president of Lee & Associates – Central Coast, has represented a private seller in the $10.2 million sale of 1046-1054 Coast Village Rd. here to a local investor, represented by Austin Herlihy and Steve Brown of Radius Group. The off-market transaction closed at a 5.1% cap rate, for $740 per square foot. The 13,778-square-foot retail property is fully leased with representative tenants including Starbucks, Vons Pharmacy, Blenders In the Glass, Boutique Antoinette and Occhiali Fine Eyewear.
RANCHO CUCAMONGA, CA-NAIOP Inland Empire has named the Inland Empire Health Plan‘s 207,000-square-foot lease at the Atrium at Empire Lakes here as the “Office Transaction of the Year.” The award was announced at the organization’s 2013 REXIE (Real Estate Excellence Inland Empire) luncheon, a benefit for the Boys & Girls Clubs of San Bernardino. The healthcare provider will be relocating from San Bernardino and consolidating multiple facilities into a single location to achieve real estate and cost efficiencies. Studley and Lee & Associates represented IEHP in the transaction. Members of the Studley teams representing IEHP and Best Best & Krieger were Mark Sullivan, Studley EVP and regional manager for Southern California, along with Joshua Gorin, Andrew Lustgarten, Steve Pisarik and Roi Shleifer.
SAN DIEGO-Regency Centers, World Premier Investments and United American Properties have appointed Jones Lang LaSalle VPs of retail brokerage Bryan Cunningham and David Thomas to recruit small shops and restaurants to three North County San Diego shopping centers. The centers, Grand Plaza, Nordahl Marketplace and El Norte Parkway Plaza, are approximately 95% occupied. Also, the firm has added David Bradley to its roster of Southern California retail experts. Bradley will partner with West Coast retail market lead Craig Killman and Cunningham to expand the firm’s retail brokerage capabilities throughout the region. In the past two years, Bradley has completed more than 75 transactions in the region valued at more than $50 million.
HAWTHORNE, CA-Argent Retail Advisors is offering a 31,000-square-foot retail anchor box for lease near the 405 freeway and El Segundo Blvd. Available June 30, the property features excellent freeway access, superior street visibility, monument signage and convenient parking. The existing building has room for expansion.
JOHNSTOWN, CO-NorthMarq‘s Denver regional office has arranged construction financing of $11.1 million for McWhinney’s Iron Horse industrial project at 3600 Ronald Reagan Blvd. here. The newly constructed, single tenant-leased distribution facility, developed for Fiberspar, totals 166,625 square feet and features warehouse/office space and immediate access to the Great Western and Union Pacific Rail. John M. Stewart, SVP, and Ilan Reissner, investment analyst, arranged the financing for the borrower.
IRVINE, CA-Irvine Company Retail Properties has added two new executives to the retail division team. Ken Gillett has joined the division as SVP operations, while Peter Moersch will serve as VP neighborhood and community center leasing. Prior to joining the firm, he served as VP property management for Macerich, responsible for the operations of some 22 million square feet of the company’s regional and community centers since 2006. Moersch will oversee leasing activities for 4.2 million square feet of the company’s non-regional retail portfolio. He previously served as first VP of CBRE, working from the company’s Newport Beach, CA, office.
PORTLAND, OR-Caryl Brown joins Kidder Mathews‘ local brokerage division as a VP, where she will focus on leasing and sales of retail properties throughout Portland’s CBD and the Pearl District. Brown, formerly of NAI Norris Beggs & Simpson, has been in the commercial real estate industry for more than 15 years.
TORRANCE, CA-Colliers International has hired a retail brokerage team led by Kyle Matthews, who will serve as SVP. Other key team members include Aron Cline, Chad Kurz and Jordan Uttal, who will serve as senior associates. Working out of the firm’s local office, the team specializes in investment sales of retail properties across the US, with an emphasis on the West Coast. Matthews was a director with Marcus & Millichap‘s national retail group. He specializes in advisory, consulting, and transactional services with institutions, developers, syndications, and private investors of shopping centers and net-leased properties.
Revisit Deal-Tracker later today to read about more deals.