Mark IV Capital Headquarters Achieves LEED Platinum Certification
Underscoring its commitment to developing a sustainable high-performance, energy-efficient building, Mark IV Capital, Inc., has announced the successful designation of LEED Platinum for its headquarter building located at 4450 MacArthur Blvd. in Newport Beach. Mark IV Capital’s building is one of only two LEED Platinum office buildings in Newport Beach.
Mark IV Capital’s Chief Executive Officer and President, Paul Cate, stated, “We’re proud of our ability to live out our sustainability goal of building for quality and the long term. This green structure project, coupled with ongoing sustainable facility management, creates a model for high-performance buildings, making a positive impact on the environment and supporting our fiscal responsibility.”
NKF Capital Markets Completes $196 Million Sale of 1000 Wilshire
NKF Capital Markets has announced the sale of Wedbush Center at 1000 Wilshire, a 476,491-square-foot class A trophy office building in downtown Los Angeles. The 21-story building benefits from its prominent freeway-adjacent location visible to 300,000 vehicles daily.
NKF Capital Markets Co-Head of U.S. Capital Markets Kevin Shannon, Senior Managing Director Rob Hannan, Managing Directors Laura Stumm and Michael Moll and Executive Managing Director Ken White represented the seller Lincoln Property Company in the $196 million sale to Cerberus Real Estate Capital Management. NKF Capital Markets Executive Managing Director David Milestone and Managing Director Brett Green procured new financing on behalf of the buyer, Cerberus.
NKF Adds Retail Specialist Daniel Samulski in Orange County
Newmark Knight Frank (NKF) announces the addition of Dan Samulski as senior managing director. Samulski brings almost two decades of retail expertise in Southern California to his role. He joins NKF’s Newport Beach office from CBRE where he served as senior vice president.
Snyder Langston Starts Construction for Skid Row Housing Trust’s Six Four Nine Lofts & Joshua House Health Center
Snyder Langston, a Southern California-based master builder, has begun construction of an affordable housing community at 7th and Wall Street in Downtown Los Angeles. Known as Six Four Nine Lofts & Joshua House Health Center, the community is a 55-unit mixed-use project that includes a 25,000-square-foot medical clinic to be operated by Los Angeles Christian Health Centers. The mixed-use community is designed to serve at-risk individuals and people in Los Angeles experiencing homelessness. Construction is scheduled for completion in the fall of 2019. This project is a development of Skid Row Housing Trust, a nonprofit organization that provides permanent supportive housing so that people who have experienced homelessness, prolonged extreme poverty, poor health, disabilities, mental illness and/or addiction can lead safe, stable lives in wellness.
Gaw Capital Partners acquires former Playboy studio campus
JLL completed the sale of 3030 Studios, a 107,875-square-foot studio campus in the Atwater Village area of Los Angeles, for an undisclosed amount. Formerly leased by Playboy, the property was sold to Gaw Capital Partners by World Class Capital Group.
3030 Studios features studio, production and creative office space located on nearly four acres of land. The private studio campus offers a full service production and broadcast facility with three state-of-the-art soundstages of 1,600, 11,000 and 18,000 square feet.
JLL Signs Sheward & Sons & Sons to Lease in Tustin, Calif.
JLL negotiated a lease with Sheward & Sons & Sons for the entire 19,460-square-foot building located at 14352 Chambers Road in Tustin, California. Sheward & Sons & Sons will occupy the space for its corporate headquarters which it is relocating from Costa Mesa.
JLL‘s team of Wade Tift, Nick Carey and Byron Foss represented the landlord, Karal Ltd., in the lease. Sheward & Sons & Sons was represented by Lee & Associates.
“Sheward & Sons & Sons was looking for space that had a good image, functional office layout and showroom capabilities,” said Tift. “JLL was able to secure a tenant prior to the building going vacant, allowing the landlord to maintain cash flow.”
Avison Young Brokers $25.6 Million Sale of Office Building in Arcadia, CA
Avison Young, the world’s fastest-growing commercial real estate services firm, announced today that it has brokered the $25.6-million sale of Towne Centre Office Building, an eight-story, 83,250-square-foot (sf) office building in Arcadia. Located at 150 North Santa Anita, the property is 97% occupied and anchored by Bank of America. Avison Young Principal Mark Evanoff and Vice President Andrew Berk, who are based in Avison Young’s North Los Angeles office, represented the seller, a family trust from San Francisco. The buyer, Los Angeles-based Positive Investments, represented itself.
Dan Wakumoto Becomes a Principal of Avison Young
Christopher Cooper, Avison Young Principal and Managing Director of the firm’s Southern California region, announced today that Dan Wakumoto has been named a Principal of the company.In addition to assuming his promotion, Wakumoto, a 26-year industry veteran, will continue to serve as the Regional Director of Finance and Operations for Avison Young’s six Southern California offices.
American Realty Advisors Adds to Sales and Investor Relations Team
American Realty Advisors (“ARA”) announced that Scott Beltz has joined the firm as Senior Vice President/Client Portfolio Manager. In this role, Mr. Beltz will be responsible for developing and maintaining new and existing institutional business relationships for the firm’s full-range of commercial real estate investment products. He will be covering the Western U.S. region and will join an existing team of professionals located nationwide.
Pendulum Property Partners Acquires Anaheim Mixed-Use Property via Auction
Pendulum Property Partners (Pendulum), a fully integrated real estate firm based in Orange County, and Boston-based Long Wharf Capital LLC, acquired the coveted Stadium Crossings mixed-use commercial property, located at the intersection of East Katella Avenue and North State College Boulevard in Anaheim, through an auction process led by brokerage firm Newmark Knight Frank. As one of the last remaining commercial properties controlled by a special servicer in Orange County, Stadium Crossings attracted a lot of attention from top firms but few were able to navigate the challenging auction process. Pendulum’s ability to conduct up-front due diligence and make an initial hard deposit enabled them to prevail.