Lincoln Property Company (LPC) has made a significant acquisition in the Southern California commercial real estate market, purchasing a two-building office campus located at 350 Camino De La Reina in San Diego for an impressive $92 million.
The property, previously home to The San Diego Union-Tribune, spans approximately 350,000 square feet and features various amenities, including a gym, showers, lockers, pedestrian sky bridges for tenant connectivity, and an on-site café with a wine bar.
CIM Group, the seller of this prime property, worked with CBRE’s Matt Carlson and Hunter Rowe to facilitate the transaction.
Financing for the sale was secured by Scott Peterson, Michael Kolcum, and Colby Matzke from CBRE’s debt and structured finance division, though LPC has not disclosed the purchase price in its announcement.
In related news, Colliers has strengthened its brokerage presence in greater Los Angeles with the addition of Paul Sablock and Nick Sablock, a father-and-son team specializing in industrial properties.
Paul, returning to Colliers after a 16-year hiatus, will serve as executive vice president while Nick takes on the role of vice president based out of the firm’s Downtown Los Angeles office.
In other transactions, Intercontinental Real Estate Corporation, in collaboration with LaTerra Development, has acquired EZ Access Self-Storage in Santa Clarita for $27 million through an off-market deal.
This self-storage facility, featuring 784 units, was built in 2000 and includes nine one-story storage buildings, an office, and a residential unit for on-site management.
The property has an average customer tenure of six years, indicating a stable customer base.
Meanwhile, All for Health, Health for All Inc. has purchased a 78,000-square-foot office property at 601-607 Glenoaks Blvd. in Burbank for $15.8 million.
The transaction involved an LLC associated with Jamison and was represented by a team from CBRE, including Kyle Barratt, Mark Perry, Edward Matevosian, and Michell Tutor, along with Scott Romick from Lee & Associates.
The two-building structure encompasses a four-story office building and a single-story building, with a multi-level, partially underground parking facility offering 250 spaces.
In the retail sector, Marcus & Millichap facilitated the $6.2 million sale of a four-tenant, triple-net-leased retail pad in Signal Hill.
This transaction closed at a 4.8% cap rate, attributed to long-term leases and early tenant renewals, with the buyer completing the deal within 60 days.
The sale was handled by Sheila Alimadadian from the Newport Beach office, while Jonathan Weir and Stefan Ignjatovic procured the buyer, D’Oyen Trust.
Acquisition financing was arranged by Danny Abergel, executive managing director with Marcus & Millichap Capital Corp.
KLM Madison LLC has also entered the market, acquiring the leasehold of Madison Park, a 97,000-square-foot mixed-use medical office and retail center located at 3445, 3511 and 3525 Pacific Coast Highway in Torrance.
Newmark’s Kevin Shannon, Ken White, and Scott Schumacher represented the undisclosed seller in this transaction.
The property features a three-story medical office building and two single-story retail buildings, with an 87% occupancy rate at the time of sale.
Major medical tenants include UCLA Health and Coast Surgery Center, while the retail spaces house tenants like Thrive Pet Healthcare and China Buffet Restaurant.
In financing news, BridgeInvest has closed a $22.4 million loan to Kahl Investments for the acquisition of Park Sierra Center, a 150,000-square-foot retail shopping center in Riverside.
This multitenant center is currently 66% occupied but is expected to be fully leased once Superior Grocers occupies a planned 45,000-square-foot space in early 2026.
Another development on the horizon is the Marriott Tribute Hotel in Santa Barbara, which has received $16.5 million in C-PACE construction financing arranged by Concord Summit Capital for Stratus Development Partners.
This luxury hotel will offer 105 keys and a rooftop amenity overlooking the Pacific Ocean, located in Santa Barbara’s East Beach/Funk Zone neighborhood.
Construction is slated to begin in September 2025 and is projected to take about two years to complete.
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