San Francisco

San Francisco

Colliers International completed the largest industrial deal on the Peninsula year-to-date for 2010. The transaction took place at 245 S. Spruce Ave. in South San Francisco. The 90,000 square-foot lease was signed by Freeman Decorating Services Inc., the leading provider of integrated services for face-to-face marketing and brand building events, including expositions, conventions, corporate events, meetings and exhibit programs. Mike Cobb, senior vice president with Colliers’ Redwood City office handled the lease. “We are starting to see some movement in the market,” says Cobb. “The location, terms of the lease and proximity to San Francisco made this deal especially appealing to Freeman. This places them in an excellent position to operate their business locally.”

A bank-owned condominium, located within the luxurious Ritz-Carlton Residences on Market Street in the heart of downtown San Francisco, will be sold during a live auction on December 10, Concierge Auctions has revealed. Originally listed for $1.27 million, there is no minimum bid required to participate. The sale is being conducted in cooperation with listing broker Jeffry Peargin of Pacific Union International, an affiliate of Christie’s Great Estates. “I’m excited to be working alongside Concierge Auctions,” states Peargin. “Given that this is a bank-owned condominium, the commitment to sell is evident. With the highest-caliber amenities of the Ritz-Carlton and immediate access to museums, upscale shopping, and gourmet restaurants, we’re confident we will find the ideal owner for this gorgeous residence.”

Los Angeles

Stevens Global Facility

Stevens Global Logistics, a leading global freight forwarder in the transportation industry, has renewed leases for two industrial buildings with an aggregate 115,000 sq. ft. in Redondo Beach, CA and Carson, CA serving its headquarters and warehouse activities, respectively, announces The Klabin Company/CORFAC International. Harvey Beesen, a partner in Klabin/CORFAC’s Los Angeles office, reports that Stevens Global Logistics signed a long-term lease renewal for a 48,000 sq. ft. facility at 3700 Redondo Beach Ave. in Redondo Beach which serves as its headquarters.  Lease consideration was in excess of $3.5 million. Beesen and Luke Staubitz, SIOR, also in Klabin/CORFAC’s Los Angeles office, represented both Stevens Global and LBA Realty, the landlord. Concurrently, Stevens Global also renewed a lease for a 67,333 sq. ft. industrial facility at 2760 E. El Presidio St. in Carson that serves as its area warehouse.  Staubitz and Beesen again represented the tenant.  Bret Quinlan in the Torrance office of CB Richard Ellis represented the Hewson Co., the landlord.  Lease consideration was $1.7 million. Founded in 1985 as Stevens Air Transport, Stevens Global Logistics has built a team of 150 people, with approximately 60 employed in Redondo Beach and another 20 in Carson.  The company has 16 offices throughout the US and another in Puerto Rico.

Lee & Associates-LA North/Ventura Inc. has transacted the sale of a 21,676-square-foot office building to a prominent group of Moorpark, CA physicians. The physician group will establish Los Robles Hospital Medical Plaza at Moorpark, a comprehensive family medical care practice and urgent care facility, according to Lee President Mike Tingus, who, with associate vice president Cory Richmond, Scott Linklater and Grant Fulkerson, represented the new ownership group, MCMG LLC, and Patriot’s developer, M.W. Ossola & Associates Inc. In conjunction with the sale transaction, the Lee brokers have negotiated a lease with Los Robles Hospital & Medical Center, which will utilize the space for its physicians and a state-of-the-art imaging facility. This business park was conceived as a community hub for commercial and professional services, and the addition of this premier medical center affirms that goal,” says Tingus. “The campus setting, the surrounding community demographics and the nearby amenities make Patriot Commerce Center a natural choice for doctors seeking a prestige address and offices that can be built out to suit their needs.”

As part of the ongoing transformation of Baldwin Hills Crenshaw Plaza, mall owner Capri Urban Investors LLC  has signed two leases that will expand the dining options there. Restaurateur Brad Johnson will open a Post and Beam location, and the first Buffalo Wild Wings in Los Angeles will soon occupy the former Hollywood Video property. The Post and Beam is seeking a conditional use permit from the City of Los Angeles, which it must secure before construction can begin. The Buffalo Wild Wings is expected to be open for business by the end of the year. Johnson has opened several popular restaurants in Los Angeles, including Roxbury, Georgia, the Sunset Room and BLT Steak. Ken Lombard, president of Capri Urban Investors and partner of Capri Capital Partners LLC, says that the new restaurants are part of the ownership's focus on adding value to the center. The new leases and pending improvements will help bring the mall closer to achieving class-A status, he says. Beyond opening two new restaurants, plans for the mall’s continued transformation are under way, including a new interior design with an upgraded dining terrace and live entertainment performance area, new flooring, lighting and other amenities, as well as extensive exterior building, site and landscape improvements throughout the 43-acre property. The theaters at Baldwin Hills Crenshaw Plaza are also undergoing a transformation into a modern multiplex featuring stadium seating, new amenities, digital technology, 3-D screens and new d