This Week's LA Deal Sheet
Bixby Land Co. and an undisclosed global investment manager sold 19949 Kendall Drive, a fully leased, Class-A industrial building in the Inland Empire.
JLL worked on behalf of the sellers and procured the buyer, Overton Moore Properties.
The San Bernardino property totals almost 105K SF. The sale price was not disclosed and public records have not yet been updated to reflect it.
JLL’s capital markets investment sales and advisory team was led by Mark Detmer and Patrick Nally. JLL’s capital markets debt advisory team was led by Kevin Mackenzie and Brian Torp. The Inland Empire markets team was led by Mike McCrary and Patrick Wood.
PEOPLE
Kidder Mathews added an appraisal team of Babak Sammak, Michael Thiel and Tommy Stuebe to the firm's valuation advisory services in San Diego and Los Angeles. The team specializes in market-rate and affordable multifamily appraisals.
Sammak and Thiel come to the firm as senior vice presidents and will be based in San Diego. Stuebe will join as vice president based in LA and collaborate closely with the team there.
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SRS Real Estate Partners has named Garrett Colburn president. Colburn will be responsible for the company’s continued national growth. He will partner with SRS CEO Chris Maguire to generate growth across all platforms and serve on SRS’ executive committee.
Colburn was promoted to president from managing principal and co-market leader of SRS’ five California offices. He will be based out of Newport Beach.
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Weil, Gotshal & Manges LLP has hired Tana Ryan and Navneeta Rekhi as partners in the private equity group. Ryan will be the managing partner of Weil’s new office in Los Angeles, and Rekhi will be based in the firm’s San Francisco office, opening this summer. Both Ryan and Rekhi come to Weil from Latham & Watkins, where they were partners in the private equity practice group.
SALES
Core5 Industrial Partners announced the sale of Rider Business Center, a roughly 248K SF logistics facility with first-floor office space in Perris, to TA Realty. The Class-A project was completed in March 2024. The sale price was not disclosed.
Atlanta-based Core5 was represented in the sale by Lee & Associates’ Michael Chavez, David Nguyen and Valentina Cadogen.
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Turner Impact Capital completed the sale of 450 Fourth Ave., a nearly 37K SF medical outpatient building in Chula Vista, to Cypress West Partners in a joint venture with TPG Angelo Gordon.
The four-story medical building is currently leased to 12 tenants, including anchor tenant Scripps Health. JLL’s medical properties group represented the seller and procured the buyer. The JLL team representing the seller was led by Matt DiCesare and Evan Kovac.
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Stos Partners sold a 22K SF industrial building at 14575 Firestone Blvd. in La Mirada to an owner-user for $9.3M. Lee & Associates’ Brad Schneider and Nick Krakower represented Stos in the transaction.
Stos Partners acquired the vacant building in June 2022 and completed improvements, including parking lot resurfacing, LED lighting systems and mechanical improvements.
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Dunleer acquired two fully occupied multitenant business parks totaling $9.4M in Huntington Beach and Baldwin Park. Both properties, including 7602 Talbert Avenue in Huntington Beach and 5124 Heintz Street in Baldwin Park, were off-market transactions and were acquired with cash.
Chad Gahr of NAI Global represented Dunleer, which did the deal as part of a 1031 exchange, while Marie Taylor of NAI Global represented the seller, family members of the building’s original developer.
