LOS ANGELES—Newmark Grubb Knight Frank has hired Brad Feld as the vice chairman of Southern California. Feld is a tenant rep practices and landlord agency specialist, and has more than 3 decades of experience. He has represented tenants in the media, technology, healthcare, financial, professional, legal and Fortune 500 tenants. He joins the firm from Madison Partners.
SALES
LOS ANGELES—An unnamed buyer has purchased the Montclair Shoppes for $15.5 million from BOSC Realty Advisors. The sales price represents a 5.5% cap rate at $820 million per square foot. The shopping center was built earlier this year, and is 18,889 square feet. The tenant mix includes Sleep Number, AT&T and Tommy's Hamburgers. CBRE's Ken McLeod and Tim Kuruzar represented the seller in the transaction.
SALT LAKE CITY, UT—One of the largest multifamily portfolios in Salt Lake City has traded hands between two unnamed investors for $25 million. The 17-property portfolio consists of 381 total units. It is one of the largest portfolios to trade hands in the market in 20 years. NGKF's Mark Jensen and Greg Ratliff represented the seller in the transactions.
RANCHO CUCAMONGA, CA—Focus Real Estate has acquired Arrow Business Park from Essex Arrow for an undisclosed amount. The property is a seven building, 136,806 square-foot multi-tenant industrial/flex business park in Rancho Cucamonga. Frank Geraci and Juan Gutierrez of Voit's Inland Empire office and Mike Bouma of Voit's Orange County represented the seller in the transaction.
FRESNO, CA—Berkadia has closed two transactions totaling $40 million. The two sales include Renaissance Apartment Homes for $30 million and Silver Lakes Apartments for $17 million, two multifamily properties in Fresno. Senior director Robin C. Kane and associate director Gordon Larkin of the Fresno office, as well as Managing Director Vince Norris of the Los Angeles office represented the buyer and seller in both transactions.
SEATTLE—Madison Marquette Realty Services has purchased Bay Vista, a 119,793-square-foot, mixed-use commercial condominium complex in Seattle, from the Carlyle Group for $33.65 million. The property is located at 2815 2nd Avenue just north of the Seattle, and serves STEM and creative tenants. To purchase the property, the buyer secured a $25.5 million loan through Natixis Real Estate Capital LLC.
ORANGE COUNTY—JLL has completed the sales of two industrial properties in Orange County totaling $8 million. DMZ Management LLC acquired a 31,500-square-foot industrial building located at 530 N. Puente Street in Brea from Sharon L. Six for $5.04 million. JLL's Garrett McClelland represented the buyer. SSM&M Partners LP acquired a 16,068-square-foot industrial building located at 1961 E. Petra Lane in Placentia, Calif. from Peairs Real Estate, LLC for $2.8 million. McClelland represented the seller. The buyer was represented by Cameron Jones and Greg Ashwill of Ashwill & Associates.
LEASES
SAN DIEGO, CA—The District at Eastlake has completed a full lease up. Sky Zone Trampoline Park, World Gym, Pride Martial Arts, Lazer Journey, Tavern Bowl, Sylvan Learning Center, Lolitas and Filippi's Pizza Grotto. Are among the tenants to sign leases at the center, bringing the occupancy of the 230,000-square-foot family friendly fitness and entertainment center to 100%. CBRE's Reg Kobzi, Joel Wilson, Michael Peterso represented the landlord in the transaction.
LOS ANGELES—On-demand massage service Soothe has signed a 13,000-square-foot lease at 1800 Highland Ave. in Hollywood. The company is expanding from a 4,000-square-foot office and will occupy the 6th floor of the building. They plan to take occupancy later this year. Avison Young principal Scott Steuber and VP Jeff Vertun represented the tenant, while NGKF represented the Souferian Group, the landlord.
CITY OF INDUSTRY, CA—Ardmore Home Design has signed a long-term lease at a 128,810-square-foot class-A industrial facility in the City of Industry. The property will serve as the headquarters for the company's affiliate Made Goods and Pigeon & Poodle. The company is consolidating and relocating its operations from Baldwin Park. Cushman & Wakefield's Ty Newland represented the tenant in the transaction.
FINANCING
LOS ANGELES—An investor has secured a $18 million loan through iBorrow to purchase a 133,000-square-foot office building in Koreatown. The borrower will convert the property into a hotel. Lucas Allen of iBorrow originated the loan.
EMPLOYMENT
SAN FRANCISCO, CA—Paradigm Tax Group has hired Karen Vincent as its Northern California Area leader based out of San Francisco, CA. She brings 20 years of experience to the firm. She formerly worked as EVP of global occupier services at Cushman & Wakefield.
DENVER, CO—Mark Katz has joined HFF as senior managing director in the firm's Denver office. He formally served as senior managing director in the firm's Chicago office. He will co-head the office with senior managing director Eric Tupler and will lead the investment sales platform.
LOS ANGELES—Newmark Grubb Knight Frank has hired Brad Feld as the vice chairman of Southern California. Feld is a tenant rep practices and landlord agency specialist, and has more than 3 decades of experience. He has represented tenants in the media, technology, healthcare, financial, professional, legal and Fortune 500 tenants. He joins the firm from Madison Partners.
SALES
LOS ANGELES—An unnamed buyer has purchased the Montclair Shoppes for $15.5 million from BOSC Realty Advisors. The sales price represents a 5.5% cap rate at $820 million per square foot. The shopping center was built earlier this year, and is 18,889 square feet. The tenant mix includes Sleep Number,
SALT LAKE CITY, UT—One of the largest multifamily portfolios in Salt Lake City has traded hands between two unnamed investors for $25 million. The 17-property portfolio consists of 381 total units. It is one of the largest portfolios to trade hands in the market in 20 years. NGKF's Mark Jensen and Greg Ratliff represented the seller in the transactions.
RANCHO CUCAMONGA, CA—Focus Real Estate has acquired Arrow Business Park from Essex Arrow for an undisclosed amount. The property is a seven building, 136,806 square-foot multi-tenant industrial/flex business park in Rancho Cucamonga. Frank Geraci and Juan Gutierrez of Voit's Inland Empire office and Mike Bouma of Voit's Orange County represented the seller in the transaction.
FRESNO, CA—Berkadia has closed two transactions totaling $40 million. The two sales include Renaissance Apartment Homes for $30 million and Silver Lakes Apartments for $17 million, two multifamily properties in Fresno. Senior director Robin C. Kane and associate director Gordon Larkin of the Fresno office, as well as Managing Director Vince Norris of the Los Angeles office represented the buyer and seller in both transactions.
SEATTLE—Madison Marquette Realty Services has purchased Bay Vista, a 119,793-square-foot, mixed-use commercial condominium complex in Seattle, from the Carlyle Group for $33.65 million. The property is located at 2815 2nd Avenue just north of the Seattle, and serves STEM and creative tenants. To purchase the property, the buyer secured a $25.5 million loan through
ORANGE COUNTY—JLL has completed the sales of two industrial properties in Orange County totaling $8 million. DMZ Management LLC acquired a 31,500-square-foot industrial building located at 530 N. Puente Street in Brea from Sharon L. Six for $5.04 million. JLL's Garrett McClelland represented the buyer. SSM&M Partners LP acquired a 16,068-square-foot industrial building located at 1961 E. Petra Lane in Placentia, Calif. from Peairs Real Estate, LLC for $2.8 million. McClelland represented the seller. The buyer was represented by Cameron Jones and Greg Ashwill of Ashwill & Associates.
LEASES
SAN DIEGO, CA—The District at Eastlake has completed a full lease up. Sky Zone Trampoline Park, World Gym, Pride Martial Arts, Lazer Journey, Tavern Bowl, Sylvan Learning Center, Lolitas and Filippi's Pizza Grotto. Are among the tenants to sign leases at the center, bringing the occupancy of the 230,000-square-foot family friendly fitness and entertainment center to 100%. CBRE's Reg Kobzi, Joel Wilson, Michael Peterso represented the landlord in the transaction.
LOS ANGELES—On-demand massage service Soothe has signed a 13,000-square-foot lease at 1800 Highland Ave. in Hollywood. The company is expanding from a 4,000-square-foot office and will occupy the 6th floor of the building. They plan to take occupancy later this year. Avison Young principal Scott Steuber and VP Jeff Vertun represented the tenant, while NGKF represented the Souferian Group, the landlord.
CITY OF INDUSTRY, CA—Ardmore Home Design has signed a long-term lease at a 128,810-square-foot class-A industrial facility in the City of Industry. The property will serve as the headquarters for the company's affiliate Made Goods and Pigeon & Poodle. The company is consolidating and relocating its operations from Baldwin Park. Cushman & Wakefield's Ty Newland represented the tenant in the transaction.
FINANCING
LOS ANGELES—An investor has secured a $18 million loan through iBorrow to purchase a 133,000-square-foot office building in Koreatown. The borrower will convert the property into a hotel. Lucas Allen of iBorrow originated the loan.
EMPLOYMENT
SAN FRANCISCO, CA—Paradigm Tax Group has hired Karen Vincent as its Northern California Area leader based out of San Francisco, CA. She brings 20 years of experience to the firm. She formerly worked as EVP of global occupier services at Cushman & Wakefield.
DENVER, CO—Mark Katz has joined HFF as senior managing director in the firm's Denver office. He formally served as senior managing director in the firm's Chicago office. He will co-head the office with senior managing director Eric Tupler and will lead the investment sales platform.
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