NEW & NOTABLE

IRVINE, CA—American Institute of Architects Orange County Chapter honored KTGY's design and planning at the 2017 Design Awards. The AIAOC Design Awards program recognizes innovative solutions to the complex problems of today's architectural environment in Orange County or by Orange County architects. KTGY's Park House received AIAOC Design Awards program's INSPIRE award and Oakwood Olympic & Olive in Downtown Los Angeles received the highest award in the Residential Planned Development category, the Honor Award.

SCOTTSDALE—STORE Capital Corporation has promoted Mary Fedewa to Chief Operating Officer. Mary, who formerly served as EVP of acquisitions, has been promoted will continue to serve as a member of the Company's Board of Directors. Fedewa leads STORE's acquisitions team in cultivating opportunities in new and existing markets and growing the demand for efficient net-lease capital solutions among middle-market and larger companies. In addition to her executive role, Fedewa was appointed to the Company's Board of Directors in August 2016. As Chief Operating Officer, she will lead STORE Capital's servicing function, which encompasses portfolio management and information technology, and will also help guide staffing and organizational structures within the credit and closing areas, while continuing to oversee the company's acquisitions activities.

LOS ANGELES—Thorofare Capital is expanding its strategic partnership with DoubleLine Capital LP after receiving an additional capital allocation for a new commercial real estate lending program that will fund senior whole loans up to $100 million. In 2015, Thorofare announced a strategic partnership with DoubleLine to act as exclusive originator for commercial real estate (CRE) bridge loans within a range of mutually defined underwriting criteria. Those loans were acquired by the DoubleLine Opportunistic CRE Debt Strategy. The growth of the DoubleLine program expands Thorofare's direct origination platform to include financings of up to $100 million with a potential total lending capacity of more than $1 billion taking into account the use of leverage.

DEALTRACKER

ONTARIO, CA—National Distribution Centers has signed an 864,000-square-foot lease with at Perris Distribution Center. Perris Distribution Center will be completed in late September 2017 and features energy-efficient LED lighting, solar panels, and electric vehicle charging stations. The LEED Gold-certified, state-of-the-art cross-dock distribution facility, situated on approximately 43 acres, is located at 657 Nance Street in the City of Perris. Senior Managing Directors Mark Kegans and Ron Washle, and Managing Director Dean Washle of NKF's Ontario, CA office represented the owner/developer Industrial Property Trust in this lease transaction. Cushman & Wakefield represented the tenant.

SAN DIEGO—An unnamed borrower has secured a $24.25 million refinance for Poinsettia Mobile Home Park, a 262-space affordable senior and family mobile home community located at 13648 Edgemoor Street and 13610 Poinsettia Drive in Poway, California. Gardiner Champlin, SVP and Marty Meagher, SVP of NorthMarq Capital's San Diego regional office arranged the funding. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its Fannie Mae platform. The property is comprised of a 124-pad senior section (55+) and a 138-pad family section. Occupancy is restricted to lower income and very low-income residents.

LOS ANGELES—Truman Johnson, Inc., a private real estate investor, has acquired three apartment buildings in Imperial Beach for approximately $10.2 million. CBRE's Cray Carlson represented the buyer in the transaction. Wildwood Apartments LLC, the local seller, was represented by Marcus and Millichap. Located at 1939, 1945 & 1949 Avenida Del Mexico, the buildings containing 44 one- and two-bedroom units are situated within a larger 12-property multifamily complex. The three acquired buildings are nestled within a 161-unit community, with the remaining condos individually owned and owner occupied.

PHOENIX—Planet Fitness has signed a long-term lease at 2456 E. Baseline Rd., in Phoenix. The NAI retail properties team of SVP Chris Gerow, Shelby Tworek and Gabe Ortega, and associate Patrick Anthon represented both sides in the $5.255 million transaction for the retail property. The landlord is Vahik Sahaklan & Sons, LLC, of Fishers, Indiana. The tenant is PF South Mountain, LLC, of Sedona, Arizona.

TUSCON—Bascom Arizona Ventures has acquired three apartment communities located in Tucson & Sierra Vista, Arizona for $70.3 million. Bascom Arizona Ventures assumed the existing HUD loans for all three properties. Hamid Panahi of Marcus & Millichap represented the buyer and seller in the transactions. The onsite property management will be overseen by Arizona based Morrison, Ekre & Bart Management Services (MEB). The purchase comes on the heels of the recent acquisitions of Springs at Silverbell, a 290-unit “Class A” community, and Springs at Continental Ranch, a 196-unit “Class A” community, both located in northwest Tucson, as well as La Entrada, a 186-unit community located near downtown Tucson. All three properties offer a resort-style swimming pool, relaxing spa, 24-hour fitness center, business center, and private garages. Residents at Summit Vista (288 units), built in 2008 and Crescent Ridge (272 units), built in two phases (2001 & 2008), enjoy easy access to Interstate 10 and are proximate to some of the area's largest employers, as well as a plethora of retail, dining, and entertainment options. Also built in two phases (2004 & 2008), Port Royale (252 units) is proximate to Ft. Huachuca, the largest military installation in the state.

ONTARIO—A 9.87-acre industrial-zoned land located on Harley Knox Blvd. in Perris, CA, has traded hands. Managing Director Dean Washle, along with senior managing directors Mark Kegans and Ron Washle of NKF's Ontario, CA office, represented the buyer Circle Industrial LLC and the seller O3M, LLC. The buyer plans to develop an approximately 210,000-square-foot industrial building at the site at the southwest corner of Harley Knox Blvd and Redlands Ave. Last year, Circle Industrial completed an adjacent two-building project totaling 594,400-square-feet of space.

MESA, AZ—Avenue 8, a garden-style multifamily property located Mesa, Arizona, has traded hands for $21.2 million. Senior Managing Directors Mark Forrester and Ric Holway and Senior Director Dan Cheyne of Berkadia's Phoenix team represented the seller, Delaware-based KMG Village in the Pines LLC. The buyer was PC Avenue 8 Mesa LLC., also based in Delaware. Avenue 8 is located at 1050 W. Eighth Ave. The 194-unit property features exclusively two-bedroom units with refrigerators and stackable washer and dryer units. Community amenities include two swimming pools, covered parking, fitness center, and a renovated office and clubhouse. The location affords quick access to Scottsdale, Glendale and Phoenix via State Route 101.

MONROVIA, CA—Paragon at Old Town, a 163-unit mixed-use multifamily and retail asset in Monrovia, California, has traded hands for $73.75 million. The property is located on Myrtle Avenue in the Old Town neighborhood of Monrovia near shopping boutiques and restaurants, less than a mile from the many tech-industry employers on Huntington Drive and within one mile of Monrovia's Metro Gold Line station, which connects the property to Downtown Los Angeles, approximately 20 miles away. Institutional Property Advisors Greg Harris, Ron Harris, Kevin Green, senior director, and Grabiec represented the seller, a global institutional asset management firm, and procured the buyer, Sequoia Equities Inc.

SCOTTSDALE, AZ—Sand Capital has acquired a 47-property CVS portfolio located throughout the country for $275 million. As the zero cash flow structure makes these ideal for 1031 exchange buyers, some of the properties will be offered for sale. Stores purchased include locations in Sedona, AZ, Seattle, WA, Wheaton, IL, Southern California, Dallas and Houston, TX, and Tuscaloosa, AL.

ORANGE COUNTY, CA—Grant Thornton LLP has signed a seven-year lease to relocate and expand into 26,000 square feet of class-A space in Orange County's prestigious MacArthur Court project, owned by Irvine Company. Relocating from the Irvine area, Grant Thornton's new coastal office will be positioned on the 15th and 16th floors of the 16-story tower at 4695 MacArthur Court, one of two high rises within the project. Cushman & Wakefield's Managing Directors Dan Fisk and Chon Kantikovit jointly represented Grant Thornton in the transaction.

IRVINE, CA—Cloudvirga, a modern fintech company disrupting the home lending industry, has signed a new 11,918-square-foot office lease at 2875 Michelle Drive, a 200,000-square-foot building within Jamboree Business Center in Irvine, California. Cloudvirga will utilize the space for its corporate headquarters. JLL Orange County Vice President Scott Wetzel represented Cloudvirga in the lease. The landlord, the Irvine Co., was represented in-house by Gavin Galey & Mike Santley.

IRVINE, CA—Coconut Grove Marketplace, an oceanfront 49,513-square-foot retail center located at 75-5815 Ali'i Drive in the retail hub of Kailua-Kona on the Big Island of Hawaii, has traded hands for $21.8 million. Donald MacLellan, senior managing partner, and Rick Chichester, president and CEO, with Faris Lee Investments represented the seller, Hudson America L.P., as well as the buyer, J.H. Real Estate Partners. The center features ocean views, with an open layout ideal for outdoor Hawaiian-themed entertainment. Other amenities include an oceanfront volleyball court offering the local community a recreational venue to enjoy. Some of the property's retailers include ABC Stores, Humpy's Alehouse, Lava Java, Outback Steakhouse and Kona Gear, to name a few.

ANAHEIM, CA—Berkadia has completed the leasehold sale of Coronado Palms, a multifamily garden community in Anaheim, California. Managing director

Shane Shafer represented the seller, the Utah based, Bridge Investment Group, which sold the asset to Canyon Multifamily Impact Fund III LLC, an affiliate of Canyon Partners Real Estate LLC, based in Los Angeles. Corondo Palms is located at 1250 S. Euclid Street, affording convenient access to Interstate Route 5 and Disneyland Theme Park. The property features one-, two- and three-bedroom floorplans with large closets, extra storage and in-unit air conditioning. Community amenities include a business center and clubhouse, a fitness center, laundry facilities, a pool, a playground and gated access.

LOS ANGELES—A 121-room Hampton Inn & Suites Santa Ana/Orange County Airport has traded hands for an undisclosed amount to a private investor. Rod Apodaca and Bob Kaplan of CBRE Hotels acted as exclusive agents for the sellers, Pacifica Hiorange LP. The four-story hotel, located at 2720 Hotel Terrace, Santa Ana, was originally opened in 1992 and was recently renovated in 2016.

LAS VEGAS—The Brookhollow Group and Pacific Coast Capital Partners have acquired Centra Point. Centra Point is a 383,000-square foot class-A office park located on the southern beltway “curve” in Las Vegas, Nevada. Centra Point offers a strategic location in the booming Southwest Office Market between the master-planned communities of Summerlin and Green Valley while being just minutes away from the world-famous Las Vegas “Strip” and McCarran International Airport.

GARDEN GROVE, CA—A 40,840 square-foot industrial facility in Garden Grove has traded hands for $7.1 million between The Realty Associates Fund X, L.P. and Exelon Realty LLC. Mike Bouma, SVP, and Eric Smith, senior associate, from Voit Real Estate Services.

IRVINE, CA—West Fontana Logistics Center, a brand new 135,651-square-foot state-of-the-art industrial facility in Fontana, California has sold for $19.75 million or $146 per square foot. LA Industrial 1, an affiliate of Zurich North America, acquired the property from CP Logistics Fontana, an affiliate of Panattoni Development Company. The property is 100% leased to a single tenant, Gale Pacific, which took occupancy when the building completed construction in July. Jeff Chiate, Jeffrey Cole, Ed Hernandez, Mike Adey and Nico Napolitano of Cushman & Wakefield's National Industrial Advisory Group in Irvine represented the seller in the transaction. Michael Chavez and David Nguyen of Lee & Associates provided market advisory.

BUILDING BLOCKS

WEST HOLLYWOOD, CA—Trammell Crow Residential held the Grand Opening of Domain West Hollywood, a boutique community of 166 designer apartment residences and more than 9,000 square feet of ground floor retail. Located at 7141 Santa Monica Blvd, West Hollywood, the property was designed for creative professionals, and features dramatic architecture with signature looks and polished interiors, all matched by luxurious amenities, sultry spaces, and a dramatic rooftop retreat overlooking the Hollywood Hills. With a walk score of 93, Domain WeHo is just minutes away from the Hollywood Hills, The Grove, iconic Melrose Ave., West Hollywood Farmers Market, specialty boutiques, delightful cafes and restaurants, fitness studios, art galleries, parks, and endless Santa Monica Blvd. nightlife.

SANTA BARBARA—Hilton and the Fess Parker family have completed the first phase renovation and rebrand of The Fess Parker, A Doubletree by Hilton Resort. Upon completion, the hotel will be known as Hilton Santa Barbara Beachfront Resort. Originally built in 1986, the property will remain managed by Hilton and jointly owned by Park Hotels & Resorts along with Fess Parker's children who are proud to continue their 30-year partnership with Hilton. The two-pronged phases of the interior renovation is slated to begin in October 2017 with a projected 2018 completion. Phase one of the revitalization project starts with a full refurbishment of the guest rooms, lobby, Roundhouse Restaurant and Java Del Mar, the resort's grab-and-go coffee bar. The guest room renovation project will advance one building at a time, with the rest of the resort's lodging options remaining open to guests. Phase two of the renovation will begin in January 2018 and will consist of the resort's extensive meeting space, including two ballrooms, the ballrooms' foyers, numerous meeting rooms and the public restrooms nearby.

The economy sped up in the third quarter, according to economic reports. GDP growth was 3% in the second quarter, the highest growth rate since 2015. Activity throughout the quarter has been strong, and this week was no different. Sale activity remained strong in Phoenix, as they have been this year. There were sales across asset classes in the greater Phoenix area. Los Angeles also saw a lot of activity, especially in the industrial sector with both sales and leasing activity. Here's a look at this week's trends, announcements and deals that you may have missed in Southern California, Utah, Arizona and Nevada.

BY THE NUMBERS

LOS ANGELES— The U.S. economy is expected to continue its expansion, growing at a slightly faster rate in 2017 than it has over the past two years. U.S. GDP growth came in at 3% in the second quarter, the best growth rate since the first quarter of 2015 and making up for a weak first quarter. The newly released outlook estimates national growth for the rest of the year to be in the 2.5% range, the Fed's continued tightening and the slowdown in bank lending. California's economy is beginning to feel limits to its robust growth. Having been one of the fastest growing of the 50 states throughout the post-recessionary period, the state is effectively at 'full employment,' which has led to a recent slow down in labor market growth. One of the best signs for 2017 is the solid recovery in business investment and spending: Global economies have stabilized and are growing, and the ISM Manufacturing Index for August had its highest reading in 6 years. Consumers, on the other hand, are expected to pull back after perhaps spending too much: The consumer savings rate has dropped below 4% for the first time since before the last recession. Looking at California specifically, the supply and demand problem continues to be a major issue. California's housing shortage and sky-high home prices and rents continue to be one of the greatest impediments to the state's future economic growth. Demand has steadily increased, including demand from the much-anticipated arrival of Millennials on the housing scene, while additional supply, the construction of new homes, has been weak since the recession. The new outlook finds that the state will continue to grow but won't reach its potential until it crafts long-term, supply-oriented solutions to its housing affordability problem.

(SOURCE: BEACON ECONOMICS)

NEW & NOTABLE

IRVINE, CA—American Institute of Architects Orange County Chapter honored KTGY's design and planning at the 2017 Design Awards. The AIAOC Design Awards program recognizes innovative solutions to the complex problems of today's architectural environment in Orange County or by Orange County architects. KTGY's Park House received AIAOC Design Awards program's INSPIRE award and Oakwood Olympic & Olive in Downtown Los Angeles received the highest award in the Residential Planned Development category, the Honor Award.

SCOTTSDALE—STORE Capital Corporation has promoted Mary Fedewa to Chief Operating Officer. Mary, who formerly served as EVP of acquisitions, has been promoted will continue to serve as a member of the Company's Board of Directors. Fedewa leads STORE's acquisitions team in cultivating opportunities in new and existing markets and growing the demand for efficient net-lease capital solutions among middle-market and larger companies. In addition to her executive role, Fedewa was appointed to the Company's Board of Directors in August 2016. As Chief Operating Officer, she will lead STORE Capital's servicing function, which encompasses portfolio management and information technology, and will also help guide staffing and organizational structures within the credit and closing areas, while continuing to oversee the company's acquisitions activities.

LOS ANGELES—Thorofare Capital is expanding its strategic partnership with DoubleLine Capital LP after receiving an additional capital allocation for a new commercial real estate lending program that will fund senior whole loans up to $100 million. In 2015, Thorofare announced a strategic partnership with DoubleLine to act as exclusive originator for commercial real estate (CRE) bridge loans within a range of mutually defined underwriting criteria. Those loans were acquired by the DoubleLine Opportunistic CRE Debt Strategy. The growth of the DoubleLine program expands Thorofare's direct origination platform to include financings of up to $100 million with a potential total lending capacity of more than $1 billion taking into account the use of leverage.

DEALTRACKER

ONTARIO, CA—National Distribution Centers has signed an 864,000-square-foot lease with at Perris Distribution Center. Perris Distribution Center will be completed in late September 2017 and features energy-efficient LED lighting, solar panels, and electric vehicle charging stations. The LEED Gold-certified, state-of-the-art cross-dock distribution facility, situated on approximately 43 acres, is located at 657 Nance Street in the City of Perris. Senior Managing Directors Mark Kegans and Ron Washle, and Managing Director Dean Washle of NKF's Ontario, CA office represented the owner/developer Industrial Property Trust in this lease transaction. Cushman & Wakefield represented the tenant.

SAN DIEGO—An unnamed borrower has secured a $24.25 million refinance for Poinsettia Mobile Home Park, a 262-space affordable senior and family mobile home community located at 13648 Edgemoor Street and 13610 Poinsettia Drive in Poway, California. Gardiner Champlin, SVP and Marty Meagher, SVP of NorthMarq Capital's San Diego regional office arranged the funding. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its Fannie Mae platform. The property is comprised of a 124-pad senior section (55+) and a 138-pad family section. Occupancy is restricted to lower income and very low-income residents.

LOS ANGELES—Truman Johnson, Inc., a private real estate investor, has acquired three apartment buildings in Imperial Beach for approximately $10.2 million. CBRE's Cray Carlson represented the buyer in the transaction. Wildwood Apartments LLC, the local seller, was represented by Marcus and Millichap. Located at 1939, 1945 & 1949 Avenida Del Mexico, the buildings containing 44 one- and two-bedroom units are situated within a larger 12-property multifamily complex. The three acquired buildings are nestled within a 161-unit community, with the remaining condos individually owned and owner occupied.

PHOENIX—Planet Fitness has signed a long-term lease at 2456 E. Baseline Rd., in Phoenix. The NAI retail properties team of SVP Chris Gerow, Shelby Tworek and Gabe Ortega, and associate Patrick Anthon represented both sides in the $5.255 million transaction for the retail property. The landlord is Vahik Sahaklan & Sons, LLC, of Fishers, Indiana. The tenant is PF South Mountain, LLC, of Sedona, Arizona.

TUSCON—Bascom Arizona Ventures has acquired three apartment communities located in Tucson & Sierra Vista, Arizona for $70.3 million. Bascom Arizona Ventures assumed the existing HUD loans for all three properties. Hamid Panahi of Marcus & Millichap represented the buyer and seller in the transactions. The onsite property management will be overseen by Arizona based Morrison, Ekre & Bart Management Services (MEB). The purchase comes on the heels of the recent acquisitions of Springs at Silverbell, a 290-unit “Class A” community, and Springs at Continental Ranch, a 196-unit “Class A” community, both located in northwest Tucson, as well as La Entrada, a 186-unit community located near downtown Tucson. All three properties offer a resort-style swimming pool, relaxing spa, 24-hour fitness center, business center, and private garages. Residents at Summit Vista (288 units), built in 2008 and Crescent Ridge (272 units), built in two phases (2001 & 2008), enjoy easy access to Interstate 10 and are proximate to some of the area's largest employers, as well as a plethora of retail, dining, and entertainment options. Also built in two phases (2004 & 2008), Port Royale (252 units) is proximate to Ft. Huachuca, the largest military installation in the state.

ONTARIO—A 9.87-acre industrial-zoned land located on Harley Knox Blvd. in Perris, CA, has traded hands. Managing Director Dean Washle, along with senior managing directors Mark Kegans and Ron Washle of NKF's Ontario, CA office, represented the buyer Circle Industrial LLC and the seller O3M, LLC. The buyer plans to develop an approximately 210,000-square-foot industrial building at the site at the southwest corner of Harley Knox Blvd and Redlands Ave. Last year, Circle Industrial completed an adjacent two-building project totaling 594,400-square-feet of space.

MESA, AZ—Avenue 8, a garden-style multifamily property located Mesa, Arizona, has traded hands for $21.2 million. Senior Managing Directors Mark Forrester and Ric Holway and Senior Director Dan Cheyne of Berkadia's Phoenix team represented the seller, Delaware-based KMG Village in the Pines LLC. The buyer was PC Avenue 8 Mesa LLC., also based in Delaware. Avenue 8 is located at 1050 W. Eighth Ave. The 194-unit property features exclusively two-bedroom units with refrigerators and stackable washer and dryer units. Community amenities include two swimming pools, covered parking, fitness center, and a renovated office and clubhouse. The location affords quick access to Scottsdale, Glendale and Phoenix via State Route 101.

MONROVIA, CA—Paragon at Old Town, a 163-unit mixed-use multifamily and retail asset in Monrovia, California, has traded hands for $73.75 million. The property is located on Myrtle Avenue in the Old Town neighborhood of Monrovia near shopping boutiques and restaurants, less than a mile from the many tech-industry employers on Huntington Drive and within one mile of Monrovia's Metro Gold Line station, which connects the property to Downtown Los Angeles, approximately 20 miles away. Institutional Property Advisors Greg Harris, Ron Harris, Kevin Green, senior director, and Grabiec represented the seller, a global institutional asset management firm, and procured the buyer, Sequoia Equities Inc.

SCOTTSDALE, AZ—Sand Capital has acquired a 47-property CVS portfolio located throughout the country for $275 million. As the zero cash flow structure makes these ideal for 1031 exchange buyers, some of the properties will be offered for sale. Stores purchased include locations in Sedona, AZ, Seattle, WA, Wheaton, IL, Southern California, Dallas and Houston, TX, and Tuscaloosa, AL.

ORANGE COUNTY, CA—Grant Thornton LLP has signed a seven-year lease to relocate and expand into 26,000 square feet of class-A space in Orange County's prestigious MacArthur Court project, owned by Irvine Company. Relocating from the Irvine area, Grant Thornton's new coastal office will be positioned on the 15th and 16th floors of the 16-story tower at 4695 MacArthur Court, one of two high rises within the project. Cushman & Wakefield's Managing Directors Dan Fisk and Chon Kantikovit jointly represented Grant Thornton in the transaction.

IRVINE, CA—Cloudvirga, a modern fintech company disrupting the home lending industry, has signed a new 11,918-square-foot office lease at 2875 Michelle Drive, a 200,000-square-foot building within Jamboree Business Center in Irvine, California. Cloudvirga will utilize the space for its corporate headquarters. JLL Orange County Vice President Scott Wetzel represented Cloudvirga in the lease. The landlord, the Irvine Co., was represented in-house by Gavin Galey & Mike Santley.

IRVINE, CA—Coconut Grove Marketplace, an oceanfront 49,513-square-foot retail center located at 75-5815 Ali'i Drive in the retail hub of Kailua-Kona on the Big Island of Hawaii, has traded hands for $21.8 million. Donald MacLellan, senior managing partner, and Rick Chichester, president and CEO, with Faris Lee Investments represented the seller, Hudson America L.P., as well as the buyer, J.H. Real Estate Partners. The center features ocean views, with an open layout ideal for outdoor Hawaiian-themed entertainment. Other amenities include an oceanfront volleyball court offering the local community a recreational venue to enjoy. Some of the property's retailers include ABC Stores, Humpy's Alehouse, Lava Java, Outback Steakhouse and Kona Gear, to name a few.

ANAHEIM, CA—Berkadia has completed the leasehold sale of Coronado Palms, a multifamily garden community in Anaheim, California. Managing director

Shane Shafer represented the seller, the Utah based, Bridge Investment Group, which sold the asset to Canyon Multifamily Impact Fund III LLC, an affiliate of Canyon Partners Real Estate LLC, based in Los Angeles. Corondo Palms is located at 1250 S. Euclid Street, affording convenient access to Interstate Route 5 and Disneyland Theme Park. The property features one-, two- and three-bedroom floorplans with large closets, extra storage and in-unit air conditioning. Community amenities include a business center and clubhouse, a fitness center, laundry facilities, a pool, a playground and gated access.

LOS ANGELES—A 121-room Hampton Inn & Suites Santa Ana/Orange County Airport has traded hands for an undisclosed amount to a private investor. Rod Apodaca and Bob Kaplan of CBRE Hotels acted as exclusive agents for the sellers, Pacifica Hiorange LP. The four-story hotel, located at 2720 Hotel Terrace, Santa Ana, was originally opened in 1992 and was recently renovated in 2016.

LAS VEGAS—The Brookhollow Group and Pacific Coast Capital Partners have acquired Centra Point. Centra Point is a 383,000-square foot class-A office park located on the southern beltway “curve” in Las Vegas, Nevada. Centra Point offers a strategic location in the booming Southwest Office Market between the master-planned communities of Summerlin and Green Valley while being just minutes away from the world-famous Las Vegas “Strip” and McCarran International Airport.

GARDEN GROVE, CA—A 40,840 square-foot industrial facility in Garden Grove has traded hands for $7.1 million between The Realty Associates Fund X, L.P. and Exelon Realty LLC. Mike Bouma, SVP, and Eric Smith, senior associate, from Voit Real Estate Services.

IRVINE, CA—West Fontana Logistics Center, a brand new 135,651-square-foot state-of-the-art industrial facility in Fontana, California has sold for $19.75 million or $146 per square foot. LA Industrial 1, an affiliate of Zurich North America, acquired the property from CP Logistics Fontana, an affiliate of Panattoni Development Company. The property is 100% leased to a single tenant, Gale Pacific, which took occupancy when the building completed construction in July. Jeff Chiate, Jeffrey Cole, Ed Hernandez, Mike Adey and Nico Napolitano of Cushman & Wakefield's National Industrial Advisory Group in Irvine represented the seller in the transaction. Michael Chavez and David Nguyen of Lee & Associates provided market advisory.

BUILDING BLOCKS

WEST HOLLYWOOD, CA—Trammell Crow Residential held the Grand Opening of Domain West Hollywood, a boutique community of 166 designer apartment residences and more than 9,000 square feet of ground floor retail. Located at 7141 Santa Monica Blvd, West Hollywood, the property was designed for creative professionals, and features dramatic architecture with signature looks and polished interiors, all matched by luxurious amenities, sultry spaces, and a dramatic rooftop retreat overlooking the Hollywood Hills. With a walk score of 93, Domain WeHo is just minutes away from the Hollywood Hills, The Grove, iconic Melrose Ave., West Hollywood Farmers Market, specialty boutiques, delightful cafes and restaurants, fitness studios, art galleries, parks, and endless Santa Monica Blvd. nightlife.

SANTA BARBARA—Hilton and the Fess Parker family have completed the first phase renovation and rebrand of The Fess Parker, A Doubletree by Hilton Resort. Upon completion, the hotel will be known as Hilton Santa Barbara Beachfront Resort. Originally built in 1986, the property will remain managed by Hilton and jointly owned by Park Hotels & Resorts along with Fess Parker's children who are proud to continue their 30-year partnership with Hilton. The two-pronged phases of the interior renovation is slated to begin in October 2017 with a projected 2018 completion. Phase one of the revitalization project starts with a full refurbishment of the guest rooms, lobby, Roundhouse Restaurant and Java Del Mar, the resort's grab-and-go coffee bar. The guest room renovation project will advance one building at a time, with the rest of the resort's lodging options remaining open to guests. Phase two of the renovation will begin in January 2018 and will consist of the resort's extensive meeting space, including two ballrooms, the ballrooms' foyers, numerous meeting rooms and the public restrooms nearby.