PHOENIX—Arizona-based ABI Multifamily has expanded its regional presence with the opening of a new office in San Diego office. The firm opened in 2013, and with this new office, it is one of the fastest growing brokerage houses in the Southwest.

CALIFORNIA—JP Morgan has promoted Matt Felsot, to Market Manager for California's Real Estate Banking (REB) business. This move is part of the firm's expansion in the California market. Felsot will be responsible for expanding the business and recruiting new talent, and his responsibilities will include working with top-tier real estate developers, investors and operating companies on their financing needs; like long term debt, repositioning and construction loans, revolving lines of credit and subscriptions facilities.

GlobeSt.com joined Crew San Diego on Thursday night at The Grand Del Mar for its annual charity wine tasting and silent auction, where a portion of the proceeds were donated to CREW Network Foundation.

DEALTRACKER

SPARKS, NV—MG Properties has acquired the Green Leaf at the Marina, a garden-style apartment community in Sparks, Nevada, from Green Leaf Properties. The sales price and business plan for the property was not disclosed, however, this purchase does significantly increase the buyers market share in the Reno area to 1,285 units. The 240-unit property has 32 buildings with a mix of one-, two- and three-bedroom units. Marcus & Millichap's Kenneth N. Blomsterberg, Ryan Rife and Benjamin Nelson represented the buyer and seller in the transaction.

ONTARIO, CA—Parter Medical Products, an owner-user, has acquired the Ontario Airport Distribution Center from Newcastle Partners for $12 million. Located at 1521 South Hellman Avenue, the 102,440-square-foot property has 5,000 square feet of office space, along with 30' minimum clearance height, 18 doc doors, one ground-level loading door and an ESFR sprinkler system. This is the buyer's first location in the Inland Empire, although it has two locations in Carson.

SANTA MONICA, CA—Standish Management has signed an 8,355-square-foot lease for the fifth floor of Santa Monica Square. The firm is relocating from a nearby office space, and the lease terms and value were not disclosed. Santa Monica Square is a six-story class-A building owned by owned by Douglas Emmett. Cushman & Wakefield's Suzanne Lee represented the tenant in the transaction.

LOS ANGELES—An investor operating under the name 200 San Pedro LLC has sold 200 San Pedro Street, a 39,775-square-foot office property, to an unnamed private investor for $14.25 million or $358 per square foot. The property is located in Little Tokyo and has ground floor retail space. Bob Safai and Matt Case of Madison Partners represented the seller in the deal.

LOS ANGELES—Equity Residential has acquired C on Pico, a 94-unit multifamily property, from Amoroso Cos. The sales price was not disclosed; however this is a high barrier to entry market with few opportunities to acquire multifamily product, especially for institutional-quality assets, like this. Even more appealing, the property is located near the Expo/Bundy Metro station and is near a great job center with 550 start-ups in the area.

ALHAMBRA, CA—An Enterprise Rent-A-Car has traded hands between two private investors for $1.52 million, representing a 5.5% cap rate. The tenant leases the 2,300-square-foot property on an absolute net lease. Hanley Investment Group represented the seller in the transaction.

LOS ANGELES—Optimus Properties has purchased an 8-unit apartment complex at 1114 and 1116 N. Gardner Street in West Hollywood. The property is a great value-add opportunity, and Optimus plans to renovate both the interior and exterior of the properties. Six of the units are vacant, giving the owner the ability to immediately execute the renovation.

CORONA DEL MAR, CA—SHA Enterprises has acquired a 13,940-square-foot multi-tenant retail property, from Pacific Development Group of Newport Beach for $8.5 million, representing a 5.33% cap rate. This is the lowest cap rate for a retail property over 10,000 square feet since 2008. The property is shadow-anchored by a Walmart Superstore, and the sales team was able to secure a lease with David's Jewelers, which brings the property to 100% occupancy. Hanley Investment Group EVP Eric Wohl represented the seller, and Hanley's SVP Patrick Kent represented the buyer.

ORANGE COUNTY, CA—24-Hour Fitness has signed four new leases in the Orange County area, each with 15-year terms. The leases are in Santa Ana, Huntington Beach and Fullerton as well as one in Riverside. The four leases total 157,000 square feet. Avison Young's principal Keith Kropfl and associate Michael Ganz represented the tenant in all four transactions.

LOS ANGELES— Our bi-weekly update on the middle markets throughout the Southwest region. Here's a look at the latest news, announcements and deals that you may have missed in Southern California, Nevada, Arizona and Utah.

NEWS & NOTABLES

LONG BEACH, CA—The Port of Long Beach and the Long Beach Container Terminal has received a clean air award from the South Coast Air Quality Management District. The port was award the prize for working to reduce pollution in Southern California with the Middle Harbor redevelopment project. Once complete, Middle Harbor will handle twice the amount of cargo as the previous terminal and will cut air emissions by more than half.

ST. GEORGE, UT—Red Rock Real Estate and Paragon Real Estate have reached a definitive agreement to merge. The combined companies will operate as Red Rock Real Estate and have become the largest locally owned independent brokerage and real estate service group in Southern Utah.

PHOENIX—Arizona-based ABI Multifamily has expanded its regional presence with the opening of a new office in San Diego office. The firm opened in 2013, and with this new office, it is one of the fastest growing brokerage houses in the Southwest.

CALIFORNIA—JP Morgan has promoted Matt Felsot, to Market Manager for California's Real Estate Banking (REB) business. This move is part of the firm's expansion in the California market. Felsot will be responsible for expanding the business and recruiting new talent, and his responsibilities will include working with top-tier real estate developers, investors and operating companies on their financing needs; like long term debt, repositioning and construction loans, revolving lines of credit and subscriptions facilities.

GlobeSt.com joined Crew San Diego on Thursday night at The Grand Del Mar for its annual charity wine tasting and silent auction, where a portion of the proceeds were donated to CREW Network Foundation.

DEALTRACKER

SPARKS, NV—MG Properties has acquired the Green Leaf at the Marina, a garden-style apartment community in Sparks, Nevada, from Green Leaf Properties. The sales price and business plan for the property was not disclosed, however, this purchase does significantly increase the buyers market share in the Reno area to 1,285 units. The 240-unit property has 32 buildings with a mix of one-, two- and three-bedroom units. Marcus & Millichap's Kenneth N. Blomsterberg, Ryan Rife and Benjamin Nelson represented the buyer and seller in the transaction.

ONTARIO, CA—Parter Medical Products, an owner-user, has acquired the Ontario Airport Distribution Center from Newcastle Partners for $12 million. Located at 1521 South Hellman Avenue, the 102,440-square-foot property has 5,000 square feet of office space, along with 30' minimum clearance height, 18 doc doors, one ground-level loading door and an ESFR sprinkler system. This is the buyer's first location in the Inland Empire, although it has two locations in Carson.

SANTA MONICA, CA—Standish Management has signed an 8,355-square-foot lease for the fifth floor of Santa Monica Square. The firm is relocating from a nearby office space, and the lease terms and value were not disclosed. Santa Monica Square is a six-story class-A building owned by owned by Douglas Emmett. Cushman & Wakefield's Suzanne Lee represented the tenant in the transaction.

LOS ANGELES—An investor operating under the name 200 San Pedro LLC has sold 200 San Pedro Street, a 39,775-square-foot office property, to an unnamed private investor for $14.25 million or $358 per square foot. The property is located in Little Tokyo and has ground floor retail space. Bob Safai and Matt Case of Madison Partners represented the seller in the deal.

LOS ANGELES—Equity Residential has acquired C on Pico, a 94-unit multifamily property, from Amoroso Cos. The sales price was not disclosed; however this is a high barrier to entry market with few opportunities to acquire multifamily product, especially for institutional-quality assets, like this. Even more appealing, the property is located near the Expo/Bundy Metro station and is near a great job center with 550 start-ups in the area.

ALHAMBRA, CA—An Enterprise Rent-A-Car has traded hands between two private investors for $1.52 million, representing a 5.5% cap rate. The tenant leases the 2,300-square-foot property on an absolute net lease. Hanley Investment Group represented the seller in the transaction.

LOS ANGELES—Optimus Properties has purchased an 8-unit apartment complex at 1114 and 1116 N. Gardner Street in West Hollywood. The property is a great value-add opportunity, and Optimus plans to renovate both the interior and exterior of the properties. Six of the units are vacant, giving the owner the ability to immediately execute the renovation.

CORONA DEL MAR, CA—SHA Enterprises has acquired a 13,940-square-foot multi-tenant retail property, from Pacific Development Group of Newport Beach for $8.5 million, representing a 5.33% cap rate. This is the lowest cap rate for a retail property over 10,000 square feet since 2008. The property is shadow-anchored by a Walmart Superstore, and the sales team was able to secure a lease with David's Jewelers, which brings the property to 100% occupancy. Hanley Investment Group EVP Eric Wohl represented the seller, and Hanley's SVP Patrick Kent represented the buyer.

ORANGE COUNTY, CA—24-Hour Fitness has signed four new leases in the Orange County area, each with 15-year terms. The leases are in Santa Ana, Huntington Beach and Fullerton as well as one in Riverside. The four leases total 157,000 square feet. Avison Young's principal Keith Kropfl and associate Michael Ganz represented the tenant in all four transactions.