{"id":1004230516,"date":"2018-05-17T07:26:40","date_gmt":"2018-05-17T15:26:40","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004230516"},"modified":"2022-12-08T17:15:53","modified_gmt":"2022-12-09T01:15:53","slug":"jv-buys-2-california-office-buildings-for-37m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jv-buys-2-california-office-buildings-for-37m\/","title":{"rendered":"JV Buys 2 California Office Buildings for $37M"},"content":{"rendered":"

By Evelyn Jozsa<\/p>\n

\"\"<\/a>

4130 Cahuenga Blvd., Los Angeles<\/p><\/div>\n

A joint venture between Harbor Associates LLC and Bascom Group LLC has purchased two office buildings, totaling 114,000 square feet in Los Angeles and Del Mar, Calif. The two properties changed hands in separate transactions for a total of $37.4 million. The venture plans to invest an additional $500 million throughout the Western U.S. in the next two years. Earlier this year, Harbor also acquired two office campuses within the Los Angeles area<\/a>.<\/p>\n

Newmark Knight Frank brokered the sale of the 75,000-square-foot asset located at 4130 Cahuenga Blvd. in Los Angeles, for $21.7 million. JLL arranged the financing together with Ready Capital Structured Finance. The office is near major studios including NBC Universal, CBS, Warner Bros., The Walt Disney Co., Paramount Pictures and DreamWorks. Additionally, the office building is less than one mile from highways 101 and 134, as well as the Universal City\/Studio City Metrolink station, which provides access to Hollywood and downtown Los Angeles.<\/p>\n

\"\"<\/a>

2010 Jimmy Durante Blvd., Del Mar, Calif.<\/p><\/div>\n

The property in Del Mar changed hands for $15.7 million. Cushman & Wakefield represented the seller and was tapped to manage the leasing transactions on behalf of the buyer. HFF secured the financing in partnership with Ready Capital Structured Finance. The two-story building is located at 2010 Jimmy Durante Blvd., less than one mile from the beach and downtown Del Mar. San Diego is also situated approximately 22 miles from the property via Interstate 5.<\/p>\n

Renovation Plans<\/h2>\n

The buyer plans to renovate both office buildings. The Los Angeles property will receive cosmetic upgrades to the exterior, lobby and communal areas. The second building will be rebranded as The Bungalows at Del Mar and the venture aims to add new paint scheme and the installation of bike and surfboard storage, as well as outdoor seating and collaboration areas. Tenant suites will feature operable windows and vaulted ceilings.<\/p>\n

\u201cThis asset fits perfectly into our business model,\u201d<\/em> said Paul Miszkowicz, principal of Harbor Associates, in prepared remarks.\u00a0\u201cWe\u2019re confident we can transform this well-located and architecturally unique but tired asset into a modern Class A coastal creative office campus.\u00a0Our vision is to make The Bungalows one of the most unique properties in coastal San Diego.\u201d<\/em><\/p>\n

Photos via Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The acquisition is part of Harbor Associates’ and Bascom Group\u2019s $500 million investment plan throughout the Western U.S., over the next two years. <\/p>\n","protected":false},"author":871,"featured_media":1004230518,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,1594,21742,21747,1608,15],"tags":[36306,32792,32796,36007,37864,36405],"class_list":["post-1004230516","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-los-angeles","category-latest","category-office","category-san-diego","category-west","tag-harbor-associates","tag-hff","tag-jll","tag-newmark-knight-frank","tag-ready-capital","tag-the-bascom-group"],"acf":[],"yoast_head":"\nJV Buys 2 California Office Buildings for $37M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/jv-buys-2-california-office-buildings-for-37m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JV Buys 2 California Office Buildings for $37M\" \/>\n<meta property=\"og:description\" content=\"The acquisition is part of Harbor Associates' and Bascom Group\u2019s $500 million investment plan throughout the Western U.S., over the next two years.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/jv-buys-2-california-office-buildings-for-37m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-05-17T15:26:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T01:15:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/4130-Cahunega-Blvd..jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Evelyn Jozsa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jv-buys-2-california-office-buildings-for-37m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/jv-buys-2-california-office-buildings-for-37m\/\",\"name\":\"JV Buys 2 California Office Buildings for $37M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jv-buys-2-california-office-buildings-for-37m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jv-buys-2-california-office-buildings-for-37m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/4130-Cahunega-Blvd..jpg\",\"datePublished\":\"2018-05-17T15:26:40+00:00\",\"dateModified\":\"2022-12-09T01:15:53+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/7a1fad8f1e02fa4d8f81f7e9ad21736a\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jv-buys-2-california-office-buildings-for-37m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/jv-buys-2-california-office-buildings-for-37m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jv-buys-2-california-office-buildings-for-37m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/4130-Cahunega-Blvd..jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/4130-Cahunega-Blvd..jpg\",\"width\":800,\"height\":620,\"caption\":\"4130 Cahuenga Blvd., Los Angeles\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jv-buys-2-california-office-buildings-for-37m\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"JV Buys 2 California Office Buildings for $37M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/7a1fad8f1e02fa4d8f81f7e9ad21736a\",\"name\":\"Evelyn Jozsa\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Evelyn-Jozsa-1.jpg?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Evelyn-Jozsa-1.jpg?w=96\",\"caption\":\"Evelyn Jozsa\"},\"description\":\"Evelyn is a creative writer covering commercial real estate trends and insights in the U.S. Evelyn was previously a senior associate editor at Multi-Housing News and Commercial Property Executive. She has an academic background in Journalism and Irish Studies. Evelyn has been covering the CRE industry since 2017. Reach her via email.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/evelynjozsa\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"JV Buys 2 California Office Buildings for $37M - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/jv-buys-2-california-office-buildings-for-37m\/","og_locale":"en_US","og_type":"article","og_title":"JV Buys 2 California Office Buildings for $37M","og_description":"The acquisition is part of Harbor Associates' and Bascom Group\u2019s $500 million investment plan throughout the Western U.S., over the next two years.","og_url":"https:\/\/www.commercialsearch.com\/news\/jv-buys-2-california-office-buildings-for-37m\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2018-05-17T15:26:40+00:00","article_modified_time":"2022-12-09T01:15:53+00:00","og_image":[{"width":800,"height":620,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/4130-Cahunega-Blvd..jpg","type":"image\/jpeg"}],"author":"Evelyn Jozsa","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/jv-buys-2-california-office-buildings-for-37m\/","url":"https:\/\/www.commercialsearch.com\/news\/jv-buys-2-california-office-buildings-for-37m\/","name":"JV Buys 2 California Office Buildings for $37M - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/jv-buys-2-california-office-buildings-for-37m\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/jv-buys-2-california-office-buildings-for-37m\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/4130-Cahunega-Blvd..jpg","datePublished":"2018-05-17T15:26:40+00:00","dateModified":"2022-12-09T01:15:53+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/7a1fad8f1e02fa4d8f81f7e9ad21736a"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/jv-buys-2-california-office-buildings-for-37m\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/jv-buys-2-california-office-buildings-for-37m\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/jv-buys-2-california-office-buildings-for-37m\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/4130-Cahunega-Blvd..jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/4130-Cahunega-Blvd..jpg","width":800,"height":620,"caption":"4130 Cahuenga Blvd., Los Angeles"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/jv-buys-2-california-office-buildings-for-37m\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"JV Buys 2 California Office Buildings for $37M"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/7a1fad8f1e02fa4d8f81f7e9ad21736a","name":"Evelyn Jozsa","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Evelyn-Jozsa-1.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Evelyn-Jozsa-1.jpg?w=96","caption":"Evelyn Jozsa"},"description":"Evelyn is a creative writer covering commercial real estate trends and insights in the U.S. Evelyn was previously a senior associate editor at Multi-Housing News and Commercial Property Executive. She has an academic background in Journalism and Irish Studies. Evelyn has been covering the CRE industry since 2017. Reach her via email.","url":"https:\/\/www.commercialsearch.com\/news\/author\/evelynjozsa\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/05\/4130-Cahunega-Blvd..jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004230516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/871"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004230516"}],"version-history":[{"count":7,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004230516\/revisions"}],"predecessor-version":[{"id":1004230588,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004230516\/revisions\/1004230588"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004230518"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004230516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004230516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004230516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}