Recent real estate activity in Southern California has highlighted a trend of increasing interest in property acquisitions and strategic development, particularly in the warehouse and office sectors.
In a notable transaction, Blackstone’s Link Logistics has sold a 200,000 square-foot warehouse located at 18045 Rowland St. in the City of Industry to MSI Computers Corp. for $65 million.
CBRE, the commercial real estate services firm, facilitated the sale, with Jason Chao representing the buyer.
Chao commented on this sale, emphasizing the shift towards property purchases by users and the growing willingness of institutional owners to sell older assets.
The property, originally built in 1985, boasts a 26-foot clear height and includes a 5,000 square-foot office build-out.
Additionally, the site features a private, fenced yard capable of accommodating 60 trailers and parking for 56 vehicles.
Meanwhile, in Newport Beach’s Fashion Island, CBRE has successfully arranged the $11.5 million sale of a 15,200 square-foot office property located at 1303 Avocado Ave.
The buyer, a local family office, acquired the property from an undisclosed private partnership.
CBRE’s team, which included Anthony DeLorenzo, Sammy Cemo, Bryan Johnson, and Harry Su, represented the seller in this transaction.
In another significant sale, Newmark facilitated the acquisition of Grandview Escondido, a 13,000 square-foot, 15-unit multifamily property located at 1316 E. Grand Ave. in Escondido.
This property was sold for $7.2 million, with Erik Anderson and Tanner Harris from Newmark representing the seller, La Caze Development.
The buyer, a high-net-worth individual based locally, was represented by Andy Brikho of Brik Home Loans.
In terms of construction and development news, Turner Impact Capital has partnered with healthcare provider Share Ourselves to open a new primary care facility in Costa Mesa.
This two-story, 11,500 square-foot facility is designed to enhance access to healthcare services in Orange County.
Developed as part of Turner Healthcare Facilities Funds, Share Ourselves has been a federally qualified health center since 1970.
On the financing front, Gantry has secured an $11 million permanent loan aimed at financing the acquisition of two Class-A office buildings at 1902 and 1903 Wright Place in Carlsbad.
These mid-rise buildings collectively offer approximately 100,000 rentable square feet, featuring amenities such as an outdoor lap pool, hot tub, sport court, and an on-site gym equipped with showers.
Currently, the buildings are at 92% occupancy.
Gantry’s Sean Kuang was instrumental in representing the borrower, a private real estate investor, in securing this seven-year, nonrecourse loan from one of Gantry’s insurance company lenders.
In other developments, Logos Faith Development has received a strategic capital commitment from a private family foundation to bolster its development endeavors.
Specializing in transforming underutilized church land into affordable housing, Logos has secured a total of $11 million through the foundation’s investment.
This funding includes both an equity investment in Logos and a revolving line of credit, designed to support the construction phase across 12 development sites in Los Angeles and San Diego in the coming two years.
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