The LA Deal Sheet
Renovations have begun on Mount San Jacinto College's new $43.3M college campus in Temecula.
C.W. Driver Cos. has started seismic retrofit construction and other improvements to Mount San Jacinto's Temecula Valley Campus at 41888 Motor Car Parkway. C.W. Driver, along with 19six Architects, is renovating and modernizing a former Abbott Laboratories site.
Mount San Jacinto College had acquired the building using Measure AA, bonds that fund improvements to existing school-owned facilities and/or acquire properties to accommodate new students.
The 350K SF Temecula Valley Campus, which consists of two five-story 175K SF towers, will feature new classrooms, science labs, computer rooms, libraries, a student life center, a health center, a café, kitchens, faculty lounges and more.
The new 27-acre college campus is expected to serve more than 15,000 students.
The first phase of construction, including the seismic retrofits and three floors, is expected to be completed by the 2020 fall semester, according to a news release.
The entire project should be completed by summer 2021, college officials said.
SALES
In a sale and leaseback transaction, PS Southern California One has acquired a 126K SF mixed-use office and warehouse building in Westlake Village from Jafra Cosmetics International for $28.2M. Built in 1978, the two-story building at 2451 Townsgate Road sits on 9.6 acres. Jafra Cosmetics will lease back 46K SF of office space to serve as its headquarters. PS Southern California will develop the remaining portion, according to the brokers. NAI Capital’s Tim Foutz, Ken Simons, Chris Jackson and Todd Lorber represented the seller. NAI's Lorber and Jackson represented the buyer.
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Sinanian Development has purchased a 1.29-acre parcel of land in Tarzana from Columbia College Hollywood for $4.4M. The land at 18600 Oxnard St. is currently a parking lot. Columbia College has also signed a five- to 10-year lease to continue using the land as a parking lot. Newmark Knight Frank’s Jeff Abraham, John DeGrinis and Patrick DuRoss represented the buyer and seller.
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Space Investment Partners has acquired a 39K SF retail center in Costa Mesa from Wohl Investment Co. for $18.4M. Built in 1975, the Westport Plaza & Square at 369 East 17th St. is currently 100% leased to tenants including Plums Café and Catering, Common Thread and Shunka Sushi. The center was renovated in 2002 and 2018. CBRE’s Philip Voorhees, Jimmy Slusher and Sean Heitzler represented the seller.
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Blackhawk Partners has purchased two apartment buildings totaling 57 units in Granada Hills from Tarhills L.P. for $12.05M. The Park Balboa and Balboa Palms apartments are located at 16914 and 16950 Blackhawk St. Marcus & Millichap’s Rick Raymundo and KW Commercial’s Hooman Emanuel represented the seller. Blackhawk Partners represented itself.
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Tova Capital has acquired a 12,600 SF retail building in Culver City from an undisclosed seller for $8.2M. Known as The Allied Model Trains building at 4411 Sepulveda Blvd., Tova plans to renovate the building originally built in 1989 as creative office space. Industry Partners’ Daniel Pickart represented Tova.
LEASES
Goodr has signed a 10-year, $6.3M lease with Klabin Redevelopment Associates to occupy 32,200 SF inside an industrial building at 300 North Oak St. within the Airport Business Center in Inglewood. The Klabin Co.’s Courtney Bell, Matthew Stringfellow and Conor Dirks represented Klabin Redevelopment. L.A. Realty Partners’ George Gleason and Jennie Delakas represented the tenant.
OTHER NEWS
Rockefeller Group has broken ground on a 204K SF distribution center on 8.7 acres in Moreno Valley. Centerpointe Commerce Center will feature 32-foot clear ceiling heights, 8K SF of office space, 106 parking stalls and 26 trailer-parking stalls. Rockefeller acquired the property from Newcastle Partners in April. Centerpointe Commerce Center is expected to be completed in summer 2020. Lee & Associates’ Bill Heim, Finn Comer, Alex Heim and Nesha Ritchie are serving as the leasing agents for Centerpointe Commerce Center.
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A JV of Invesco Real Estate and US Storage Centers has completed development of a 1,440-unit, 142K SF self-storage facility located at 1901 West El Segundo Blvd. in Compton.
EXECUTIVE NEWS
Bridge Development Partners has hired Heather Crossner as senior vice president of development in its Los Angeles office. Crossner will oversee all project entitlements as well as political, community and public relations during project development. She will also assist landowners, developers and community members in navigating the development process. Prior to joining Bridge, Crossner was counsel at Latham & Watkins.
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Meena Krenek has rejoined Perkins and Will as principal and interior design director at the firm’s Los Angeles studio. Krenek previously worked at Perkins and Will from 2005 to 2017 as an interior design director. Prior to rejoining Perkins and Will, Krenek was a design director at Gensler’s office in Atlanta.
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Uncomn Projects has appointed Kenya Williams as managing partner. Williams will be responsible for consumer marketing and branding strategies for the commercial real estate industry. Prior to joining Uncomn, Williams was an executive director at JP Morgan Chase & Co.
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The Klabin Co./CORFAC International has named Yasushi Shiromi as a senior vice president. With more than three decades of experience, Shiromi specializes in representing clients from the Pacific Rim and Japan. Prior to The Klabin Co., Shiromi worked at Newmark Knight Frank.
