String of Industrial Sales Expose Strong Market

ORANGE COUNTY, CA—Orange County's industrial market is on fire. Voit Real Estate Services recently closed nine back-to-back industrial transactions totaling $50 million. The properties are located in Anaheim, Buena Park, Westminster, Santa Ana, Garden Grove and Huntington Beach. The individual transactions ranged in value from $1.5 to $10.8 million.

SALES

PICO RIVERA, CA—Westcore Properties has acquired a two-building industrial property from Samuel Rosen & Sons for $6 million. Located at 8401 Slauson Avenue and 7820-22 Industry Avenue in Pico Rivera, the two properties total 96,827 square feet. The Slauson Avenue building is the larger of the two at 60,737 square feet and has been vacant for two years. Westcore will renovate the property. The Industry Avenue property is occupied by LA Consolidation Cold Storage & Distribution through 2021.

OCEANSIDE, CA—Structure PMG has acquired Garison West Townhomes for $8.1 million. The 46-unit property is a mix of one- and two-bedroom apartment homes. Structure PMG purchased the property in a 1031 exchange with an 18-unit property in Anaheim, CA. Ray Adams of DTZ represented the seller and Tyler Leeson of Marcus & Millichap represented the buyer in the transaction.

CARLSBAD, CA—Capstone Advisors has purchased the Island @ Carlsbad, a 39,992-square-foot retail center, for $11.8 million from Berdan Holdings. Located at 5806 – 5814 Van Allen Way in the master planned community the Carlsbad Research Center, the property is 71% occupied. The investor plans to upgrade and renovate the property.

LEASES

NEWPORT BEACH, CA—The Saywitz Co. signed four leases throughout Southern California totaling $7.9 million. Orange County Urology Associates signed a four-year lease for 12,850 square feet at 25200 La Paz Rd. in Laguna Hills; Sheffield Manufacturing signed at 10-year lease for 40,500 square feet at 7100 Belgrave in Garden Grove; Carillon Office Technologies signed a five-year lease for 8,400 square feet at 11675 Scenic Ave. in Costa Mesa; and Meritage Homes of California signed a three-year lease for 3,623 square feet at 401 Dove St. in Newport Beach.

LOS ANGELES—UCLA Health has signed a lease renewal and expansion at the Financial Center in Rolling Hills Estates. The tenant previously occupied 7,500 square feet on the ground floor of the property, and now occupies 18,500 square feet on two full floors. NGKF executive managing directors Sean O'Leary and Maury Gentile and associate director Max Schneider represented the tenant in the transaction. The landlord is West Coast Capital Partners.

CARLSBAD, CA—Rubio's Restaurant has leased 27,000 square feet at Studio 2200 in Carlsbad. Aric Starck, managing director of Cushman & Wakefield represented the landlord, Regent Properties, in the lease, while Craig Knox of Hughes Marino represented the tenant.

FINANCING

RIVERSIDE, CA—Old Plantation Manufactured Home Community has secured an $11 million Fannie Mae loan to refinance the property, a 223-space manufactured home community. Capital One Multifamily Finance funded the loan. The previous loan matures in January 2016, but was available for prepayment without penalty in September 2015.

IRVINE, CA—An entity owned by Swift Real Estate Partners has secured a $24.2 million acquisition loan for the purchase of a 109,506-square-foot office complex on McCabe Way in Irvine, CA. CBRE's Michael Walker and Brad Zampa arranged the three-year, floating-rate financing, with two one-year extensions.

BRENTWOOD, CA—Pacific Equity Properties has secured a $15.3 million loan to recapitalize a 10,511-square-foot retail property in Brentwood. The 10-year loan included a $2M mezzanine piece. Mike Guterman of Highland Realty Capital secured the funds on behalf of the borrower.

LOS ANGELES—The owner of two office buildings in Corona del Mar has secured in acquisition financing for the properties. Northmarq Capital SVP and senior director David R. Blum and senior director Nathan Prouty secured the funds on behalf of the borrower.

EMPLOYMENT

LOS ANGELES—Akerman LLP has promoted Herman Enayati to a partner in the firm's national real estate practice group. In the past year, his group has been ranked the sixth largest in the country.

LADERA RANCH, CA—Lending platform Money360 has John Maute, co-founder of Helios AMC, and Jon Barlow, founder and former CEO of Eaglewood Capital Management, to its Board of Directors. The two were the sole funders of the firm's $2.5 million series-A funding.

LOS ANGELES—CBRE has named Richard Rizika as vice chairman. Rizika joined the firm 28 years ago and has since led $2.5 billion in retail leases and investment sales throughout the Western United States. He is consistently ranked among the top brokers globally.

DEVELOPMENT

KOHALA, HI—Aina Le'a has completed the purchase of 1011 acres of land in Gold Coast Resort area of the Island of Hawaii. The land will be used to develop the Villages of Aina Le'a, a community of 1,945 luxury residential homes, 384 affordable townhomes, one golf course, walking trails and parks, as well as medical and commercial centers.