LOS ANGELES—Daren Metropoulos, a principal at Metropoulos & Co., has acquired the Playboy Mansion for $100 million. The famous L.A. mansion went on the market earlier this year. Metropoulos owns the neighboring property, which was originally connected to the Playboy Mansion. He plans to reconnect the two properties sometime in the future. At present, Hugh Hefner, the former owner, will remain at the property for his lifetime.
SALES
IRVINE—Bomel Construction has acquired a three-story office building at 96 Corporate Park in Irvine for $15 million. The buyer plans to occupy a portion of the property, which is currently only 70% occupied by two long-term tenants. Rob Rader, VP of Wind Water Realty, and Gary Marquis of Coldwell Banker Commercial represented the buyer in the transaction, while Wind Water Realty represented the seller, Kelemen Caamaño Investments.
DENVER—HLC Equity and Hampshire Companies have formed a joint venture to acquire the Sage Brook apartments in Denver. The 216-unit property is a class-B asset between Cherry Creek neighborhood and neighboring Aurora. HLC's management arm will operate the property, and plans to update the common areas and interior units.
IRVINE—Wesco Properties has purchased two adjacent restaurant buildings for $13.7 million from an investor operating as VR Irvine Pad. The two properties are fully leased on a NNN basis to a Mimi's Café and an Islands Restaurant. Jeff Conover of Faris Lee represented the seller in the transaction, while Tony Dorn of Beitler Commercial Realty Services represented the buyer.
SAN DIEGO—Trilogy Investment Group has acquired a fully occupied 21,144-square-foot retail property in Solana Beach for $10.45 million. The famed Leaping Lotus marketplace occupies the property. Ten-X's Patrick Walker teamed with John Jennings of Newmark Grubb Knight Frank to market the property.
REDONDO BEACH, CA—A single tenant 17,160-square-foot retail property has traded hands between two unnamed investors for $7.6 million, or a 4.5% cap rate, a record in the market. The property is fully occupied by a Petco, which recently signed a 10-year lease extension, Hanley Investment Group president Ed Hanley and EVP Bill Asher, along with the seller's exclusive advisor Joe Miller, a VP at Voit Real Estate Services, represented both the seller and buyer in the transaction.
NEWPORT BEACH—MIG Real Estate has acquired Cape May at Harveston, a luxury apartment complex in Temecula. The 300-unit property traded hands for an undisclosed amount. The property is located on 17-acres and is fully amenitized with an Olympic pool, walking paths and community activities. Tom Moran Jr. with Moran & Co. represented the buyer in the transaction.
TUKWILA, WA—BKM Capital Partners has acquired the Tukwila Commerce Center, a multi-tenant light industrial building in Tukwila, WA, for $45 million. The property totals 27 buildings and 476,765 square feet, and is the third largest facility in the area. BKM plans to invest an additional $7.9 million into the property to on interior and exterior improvements.
DENVER—The Rubino Family has hired Mission Rock Residential to manage the Dove Valley Apartments in Englewood, CO. The 312-unit property has a mix of one-, two- and three-bedroom layouts, and is walking distance to retail shops and restaurants. Mission Rock will operate the property under its trademark Rock Solid Guarantee, meaning that they will offer 24-hour response to maintenance calls, a 30-day move-in satisfaction guarantee, complimentary lock-out assistance during business hours, and an opportunity to purchase a low-cost renter's insurance plan with guaranteed pre-approval.
LEASES
SAN DIEGO—HD Supply Construction has signed a 15,789-square-foot lease at Raleigh Industrial Center in El Cajon. The 67-month lease has a $659,566.50 value. Kyle Clark and Dan McCarthy, senior directors at the Heritage Group, represented the landlord, Propco, in the transaction. The tenants represented themselves.
LOS ANGELES—The Los Angeles County Fire Department signed a 10-year, 37,000-square-foot lease at 1255 Corporate Center Drive in Monterey Park. The fire department will take occupancy of the space early next year, and will occupy a portion of the four-story, 79,000-square-foot building. The lease is valued at $10.7 million. Linda Lee, Scott Unger and Bill Boyd of Charles Dunn Co. represented the landlord in the transaction.
EMPLOYMENT
SAN DIEGO—Paula Danker has joined Kidder Matthews as a SVP in the investment sales group. Danka is a veteran broker with 27 years of experience, formerly working with Commercial Facilities Inc.
SEATTLE—José Oncina has joined Savills Studley as senior managing director in the firm's occupier services group. He formerly worked with CBRE in London as a regional alliance director. Oncina will support the firm's national operations and will be located in the Seattle office.
DEVELOPMENT
IRVINE—Duke Realty Corp. has broken ground on a nearly 500,000-sqaure-foot industrial facility in Moreno Valley. The property is being built on a speculative basis, and is located in the I-215 South Corridor in the Inland Empire East. Duke plans to deliver the property in the second quarter of next year. It will feature 36-foot clear height, 80 dock doors, a fully secured yard with the ability to store 87 additional trailers, 2.5% skylights and LED light fixtures.
LOS ANGELES—Daren Metropoulos, a principal at Metropoulos & Co., has acquired the Playboy Mansion for $100 million. The famous L.A. mansion went on the market earlier this year. Metropoulos owns the neighboring property, which was originally connected to the Playboy Mansion. He plans to reconnect the two properties sometime in the future. At present, Hugh Hefner, the former owner, will remain at the property for his lifetime.
SALES
IRVINE—Bomel Construction has acquired a three-story office building at 96 Corporate Park in Irvine for $15 million. The buyer plans to occupy a portion of the property, which is currently only 70% occupied by two long-term tenants. Rob Rader, VP of Wind Water Realty, and Gary Marquis of Coldwell Banker Commercial represented the buyer in the transaction, while Wind Water Realty represented the seller, Kelemen Caamaño Investments.
DENVER—HLC Equity and Hampshire Companies have formed a joint venture to acquire the Sage Brook apartments in Denver. The 216-unit property is a class-B asset between Cherry Creek neighborhood and neighboring Aurora. HLC's management arm will operate the property, and plans to update the common areas and interior units.
IRVINE—Wesco Properties has purchased two adjacent restaurant buildings for $13.7 million from an investor operating as VR Irvine Pad. The two properties are fully leased on a NNN basis to a Mimi's Café and an Islands Restaurant. Jeff Conover of Faris Lee represented the seller in the transaction, while Tony Dorn of Beitler Commercial Realty Services represented the buyer.
SAN DIEGO—Trilogy Investment Group has acquired a fully occupied 21,144-square-foot retail property in Solana Beach for $10.45 million. The famed Leaping Lotus marketplace occupies the property. Ten-X's Patrick Walker teamed with John Jennings of Newmark Grubb Knight Frank to market the property.
REDONDO BEACH, CA—A single tenant 17,160-square-foot retail property has traded hands between two unnamed investors for $7.6 million, or a 4.5% cap rate, a record in the market. The property is fully occupied by a Petco, which recently signed a 10-year lease extension, Hanley Investment Group president Ed Hanley and EVP Bill Asher, along with the seller's exclusive advisor Joe Miller, a VP at Voit Real Estate Services, represented both the seller and buyer in the transaction.
NEWPORT BEACH—MIG Real Estate has acquired Cape May at Harveston, a luxury apartment complex in Temecula. The 300-unit property traded hands for an undisclosed amount. The property is located on 17-acres and is fully amenitized with an Olympic pool, walking paths and community activities. Tom Moran Jr. with Moran & Co. represented the buyer in the transaction.
TUKWILA, WA—BKM Capital Partners has acquired the Tukwila Commerce Center, a multi-tenant light industrial building in Tukwila, WA, for $45 million. The property totals 27 buildings and 476,765 square feet, and is the third largest facility in the area. BKM plans to invest an additional $7.9 million into the property to on interior and exterior improvements.
DENVER—The Rubino Family has hired Mission Rock Residential to manage the Dove Valley Apartments in Englewood, CO. The 312-unit property has a mix of one-, two- and three-bedroom layouts, and is walking distance to retail shops and restaurants. Mission Rock will operate the property under its trademark Rock Solid Guarantee, meaning that they will offer 24-hour response to maintenance calls, a 30-day move-in satisfaction guarantee, complimentary lock-out assistance during business hours, and an opportunity to purchase a low-cost renter's insurance plan with guaranteed pre-approval.
LEASES
SAN DIEGO—
LOS ANGELES—The Los Angeles County Fire Department signed a 10-year, 37,000-square-foot lease at 1255 Corporate Center Drive in Monterey Park. The fire department will take occupancy of the space early next year, and will occupy a portion of the four-story, 79,000-square-foot building. The lease is valued at $10.7 million. Linda Lee, Scott Unger and Bill Boyd of Charles Dunn Co. represented the landlord in the transaction.
EMPLOYMENT
SAN DIEGO—Paula Danker has joined Kidder Matthews as a SVP in the investment sales group. Danka is a veteran broker with 27 years of experience, formerly working with Commercial Facilities Inc.
SEATTLE—José Oncina has joined Savills Studley as senior managing director in the firm's occupier services group. He formerly worked with CBRE in London as a regional alliance director. Oncina will support the firm's national operations and will be located in the Seattle office.
DEVELOPMENT
IRVINE—Duke Realty Corp. has broken ground on a nearly 500,000-sqaure-foot industrial facility in Moreno Valley. The property is being built on a speculative basis, and is located in the I-215 South Corridor in the Inland Empire East. Duke plans to deliver the property in the second quarter of next year. It will feature 36-foot clear height, 80 dock doors, a fully secured yard with the ability to store 87 additional trailers, 2.5% skylights and LED light fixtures.
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