KEARNY MESA, CA-The Wilmington, DE-based producer of hydrocolloid products sells its 63,445-sf corporate campus in Kearny Mesa to Westcore Commercial Properties and then inks a 10-year, $8-million leaseback as part of the transaction.
CHULA VISTA, CA-The lender, which offers refinancing, home equity and purchasing loans, inks a five-year lease for office space in the Gateway Chula Vista Business Center. The transaction is valued at $750,000.
OCEANSIDE, CA-Located in the Ocean Ranch Corporate Centre, the parcels encompass a total of 27.72 acres. Having already acquired 60 separate acres in the complex two years ago, Idec Pharmaceuticals Corp. plans to use the recently purchased land for future expansion.
CHINO, CA-A Christian fellowship known as Living Waters acquires the 37,000-sf building, which stands at 6010 Walnut in Chino. With plans to use the facility for religious services, it will relocate here when upgrades on the property are completed.
SAN DIEGO, CA-Known as Mission Valley Heights, the office and R&D development is slated for build-out by the end of 2003. It will encompass approximately 1 million sf upon completion.
SANTA BARBARA, CA-Three banks commit to be joint-lead arrangers of a new three-year senior term loan credit facility for Tenet Healthcare Corp. The hospital operator and owner will use the proceeds from the new term loan facility to reduce borrowing under its other existing bank line, a $1.5-billion multi-year revolving credit facility.
SAN DIEGO, CA-The multifamily investment company enters into the San Diego apartment market for the first time with two major acquisitions in Rancho Bernardo, the 338-unit Carmel Mountain Apartments and the 262-unit Mountain Ranch Apartments.
CARLSBAD, CA-An investment partnership known as Pacific Realty Advisors LP acquires the two-building complex from I & G Faraday Inc. The new owner plans to significantly rehab the property, which is located at 2382-86 Faraday Ave.
SAN DIEGO, CA-Pan Pacific Retail Properties Inc., the largest shopping center REIT on the West Coast, raises its quarterly dividend 5.3% to $0.50 per share. The news comes as the company plans to sew up its pending acquisition of Center Trust Inc.
SAN DIEGO, CA-Geotechnics Inc. takes 15,944 sf at the San Diego office park, while Photo Imaging Center LLC renews 9,730 sf here. The transactions have a combined value of $2.9 million.