West
CBRE Arranges Sale of OC Industrial Asset
Makena Properties acquired the 81,836-square-foot property in Anaheim, Calif., for approximately $12.2 million. The building is fully leased to a dancewear retailer.
Bay Area Office Asset Changes Hands
Robert Wheatley Properties paid $15.5 million for a two-story, 18,353-square-foot office building in Menlo Park, Calif. CBRE arranged the transaction on behalf of the seller, Oak Grove Associates.
WPT Industrial Goes on $96M Shopping Spree
The REIT has agreed to acquire two distribution centers in Oregon and Texas. Combined, the properties offer more than 903,000 square feet of gross leasable space.
Silicon Valley Project Lands $79M Construction Loan
Development on Broadway Station will start in the third quarter, with delivery expected in the summer of 2019. Chan Zuckerberg Initiative already preleased the entire building.
Sacramento Sets the Pace
Although multifamily rent gains across the country have been decelerating in recent months, Sacramento continues to outperform. The average rent across the metro was up 9 percent year-over-year as of April.
CBRE Arranges Greater LA Industrial 1031 Exchange
The three-building park in Norwalk, Calif. changed hands for $14.1 million and is 98 percent leased to a variety of tenants, including Ford Motors.
Kidder Mathews Taps Inland Empire SVP
Dean Krieger brings more than 30 years of industry experience. In his new role, he will specialize in tenant representation throughout the Inland Empire and Orange County.
West Coast’s Tallest Building Open for Business
Korean Air and Hanjin Group developed Wilshire Grand Center, a $1.1 billion skyscraper, which brings offices, a luxury hotel and convention space to downtown Los Angeles.
Sacramento-Area Shopping Center Trades
Soma Capital Partners, the new owner of Blue Oaks Marketplace, plans general capital improvements to attract a business in the food service space.
Hanley Closes Inland Empire Retail 1031 Exchange
The firm negotiated the sale of a 33,708-square-foot pad building occupied by T.J. Maxx and ULTA Beauty in La Quinta, Calif. for around $8.9 million.