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Salt lakes real estate

Anaheim company buys 10 La Quinta retail properties for $35 million – Orange County Register

Ten buildings at One Eleven La Quinta Center have been sold for $35 million to Milan Capital Management in Anaheim, according to Investment Properties Group of SRS Real Estate Partners.

The mall built in La Quinta between 1993 and 2007 sits on 12.95 acres at Washington St on Route 111.

SRS senior vice presidents Chris Tramontano and John Redfield represented the seller, a Coachella Valley-based family. The buyer represented himself.

Center tenants who were part of the sale of the property include Ross Stores, Staples, Petco, Big 5 Sporting Goods, among others. The center is “ghost” anchored by tenants that include Stater Bros, Hobby Lobby and Kohl’s.

“…The seller was ready to hand over to a large operator in Southern California. This transaction had its challenges and many emotional pieces, thankfully all outside of the high quality real estate that was purchased,” Redfield said.

A joint venture between Irvine-based Greenlaw Partners and Mirae Asset Global Investments recently acquired the last of three industrial buildings leased by Amazon in Utah. The deal, totaling 547,290 square feet, was worth a total of $291.5 million. (Courtesy of Cushman & Wakefield)

The Greenlaw joint venture completes the purchase of 3 logistics buildings in Utah

A joint venture between Irvine-based Greenlaw Partners and Mirae Asset Global Investments recently acquired the last of three industrial buildings leased by Amazon in Utah, according to Cushman & Wakefield.

The deal, totaling 547,290 square feet, was worth a total of $291.5 million. The seller was Gardner Batt.

The third building in the City of West Jordan was completed this spring and spans 200,000 square feet on 76 acres. It sold for $103.8 million on July 7. The other two building sales included a new 201,096 square foot building completed in 2021 on over 56 acres in Salt Lake City and a 146,194 square foot building completed in 2020 in American Fork. The Greenlaw firm purchased the pair of buildings for $187.75 million.

Jeff Chiate, Mike Adey, Brad Brandenburg and Matthew Leupold of the Irvine office of Cushman & Wakefield, and Tom Freeman and Travis Healey of the Salt Lake City office of Cushman & Wakefield represented the seller in all three transactions.

“Industrial sites remain in high demand from investors due to continued robust tenant activity across many industries in the sector and quality industrial supply which remains limited,” Chiate said.

Westport Properties in Newport Beach and Invesco jointly acquired eight self-storage facilities in Tennessee, North Carolina and Oregon.  Pictured is the Raleigh complex, which has 686 units.  (Courtesy of Westport Properties)
Westport Properties in Newport Beach and Invesco jointly acquired eight self-storage facilities in Tennessee, North Carolina and Oregon. Pictured is the Raleigh complex, which has 686 units. (Courtesy of Westport Properties)

Westport launches purchase of storage units

Newport Beach-based Westport Properties and Invesco have acquired eight self-storage facilities in Tennessee, North Carolina and Oregon.

Terms of the acquisition were not provided by either company.

The partnership rebrands the properties under the US Storage Centers brand with Westport Properties as the operator.

The properties include: 1,347 units in three complexes in Clarksville, Tennessee; 686 units and 52 parking spaces in Raleigh, North Carolina; 646 units in Durham, North Carolina; 674 units in two complexes in Bend, Ore.; 491 units in Winston Salem, North Carolina

Invesco and Westport represented themselves in acquisitions.

IHP Capital Partners in Newport Beach and homebuilder KB Home have begun work on a new townhouse community in Carlsbad.  The two companies are converting a 20-acre nursery in northern San Diego County into 248 three-story townhouses and 46 affordable apartments for renters over 55.  (Courtesy of IHP Capital Partners)
IHP Capital Partners in Newport Beach and homebuilder KB Home have begun work on a new townhouse community in Carlsbad. The two companies are converting a 20-acre nursery in northern San Diego County into 248 three-story townhouses and 46 affordable apartments for renters over 55. (Courtesy of IHP Capital Partners)

Townhouse community ushers in North San Diego

Newport Beach-based IHP Capital Partners and homebuilder KB Home purchased and are currently building Marja Acres in Carlsbad.

The two companies are converting a 20-acre former nursery in northern San Diego County into a new housing community that will include 248 three-story townhouses, 10,000 square feet of commercial space and 46 affordable apartments for adults of 55 and over.

The community at 4901 El Camino Real, between Kelly Drive and Cannon Road, will feature three-story townhouses in two design styles: Modern Farmhouse and Contemporary. Facilities will include a one-and-a-half-acre village green, four pocket parks, a dog park and a community center with a swimming pool, barbecue area and bocce court.

Construction of model homes is expected to begin later this year with sales opening in 2023, according to IHP. The price of the house will be published at a later date.

Daniel “Dane” Rowland is the new Head of Commercial Properties and Professional Associations for Irvine-based Guthrie Development Co. (courtesy of Guthrie Development)

Moving

Daniel “Dane” Rowland is the new head of commercial properties and commercial associations for Guthrie Development Co., based in Irvine. Previously, he held multiple roles and responsibilities at Irvine Co. With over 15 years of property management experience, Rowland will be responsible for overseeing the day-to-day operations of properties owned by both Guthrie Development and Guthrie-managed trade associations. Asset Management.

Real estate transactions, leases and new projects, industry hires, new companies and upcoming events are compiled from news releases by editor Karen Levin. Submit high-res articles and photos via email to Business Editor Samantha Gowen at [email protected] Please allow at least a week for posting. All elements are subject to change for clarity and length.

Mary Cashion

The author Mary Cashion