The LA Deal Sheet
California State Polytechnic University, Pomona has a new student services building with a futuristic design and innovative features.
C.W. Driver Cos. has completed a three-story, two-building structure totaling 138,400 SF.
The two buildings are covered under an undulating roof that uses natural solar power to regulate the buildings' temperature and energy efficiency, C.W. Driver officials said.
“Cal Poly Pomona’s new student services building's incomparable aesthetic and energy efficient design make it a perfect fit for an institution nationally recognized for its unique approach to learning and advancements in engineering,” C.W. Driver Senior Project Manager Jeff Marshall said.
Designed by CO Architects and inspired by Pomona’s surrounding hills and mountains, the unique curved steel and concrete roof collects, stores and distributes solar energy in the form of heat in the winter and rejects solar heat in the summer.
Additionally, the roof shades the exterior glass windows, reducing glare and maximizing natural daylight.
SALES
In a JV, Bixby Land Co. and AXA Investment Managers have acquired a 340K SF Class-A industrial building in San Bernardino from an undisclosed seller for $33M. The property at 4982 Hallmark Parkway is newly built and vacant. HFF's Andrew Briner and Michael Roberts represented Bixby. CBRE represented the seller.
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An unnamed institutional investment fund has purchased a 66-unit multifamily building in Echo Park from a private investor for $25.5M. Built in 1972, the Morton Gardens Apartments sits on 2.9 acres at 1848-1825 Morton Ave. and sold for $386,364 per unit. Marcus & Millichap's Institutional Property Advisors' Joe Grabiec, Greg Harris, Kevin Green and Paul Darrow represented the buyer and seller.
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Miramar Capital has sold two apartment buildings totaling 14 units in Long Beach to a foreign investor for $4.53M. Both properties were built in the 1980s. The eight-unit property at 314 Hermosa Ave. in the Alamitos Beach neighborhood sold for $2.53M. The other property is a six-unit apartment building at 4231 East 10th St. in Belmont Heights. Stepp Commercial's Robert Stepp represented the seller. Stepp Commercial's Robert Stepp and Todd Hawke represented the buyer.
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Holt Tov LLC has purchased a six-unit apartment building in Los Angeles from 814 Holt Apartments LLC for $2.4M. The property is at 814 South Holt Ave. and sold for $401,667 per unit. Marcus & Millichap's Sam Liberow, Max Gersht and Jordan Epstein represented the buyer and seller.
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Gelt Inc. has acquired a 665-unit self-storage facility in South Pasadena from Southmark Storage for $16.5M. Built in 1986, the six-building storage facility at 919 Mission St. features 623 indoor storage units, 42 outdoor rental units and a two-bedroom manager's apartment. CBRE's Greg Nassir and Edward Matevosian represented the seller. Gelt was self-represented.
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An unnamed investment group has purchased a 14,492 SF office building in Glendale from a private family trust for $5.9M. The two-story multi-tenant office building sits on a 34K SF parcel at 200 West Glenoaks Blvd. and was fully occupied at the time of the sale. Avison Young's Andrew Berk and Mark Evanoff represented the seller. Intercity Realty Group represented the buyer.
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A private investor has purchased a 14-unit multifamily building in Sherman Oaks from an undisclosed seller for $8M. Built as a condominium in 2003, the building at 4309 Dixie Canyon Ave. has been used as a rental. The property features a mix of one-, two- and three-bedroom units ranging from 1,230 SF to 1,700 SF. Lee & Associates' Warren Berzack and Slavic Zlatkin represented the buyer and seller.
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In an all-cash, off-market deal, a private investor has purchased a 169-unit apartment complex in Port Hueneme from a private seller for $37.35M. Built in 1974, Park Madera Apartments sits on 5 acres at 2410 Madera Circle. CBRE's Melinda Russell represented the buyer and seller.
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A private investor has purchased a 7,414 SF office building in Covina from an unnamed limited liability company for $1.3M. The property was built in 1976 and is at 424 South Citrus Ave. Marcus & Millichap's Marty Cohan and Neda Rassouli represented the buyer and seller.
LEASES
Cal-Western Packaging has signed a five-year, $3.7M lease with RCB Equities #15 LLC to occupy a 103,600 SF industrial building at 16525 South Avalon Blvd. in Carson. Lee & Associates' Jack Kline represented the landlord. The Klabin Co.'s Michael Ouellette represented Cal-Western, a company that develops hair, skin and body products.
EXECUTIVE NEWS
Avison Young has named Chris Maling, David Maling and Patrick Barnes as principals based in the company's downtown Los Angeles office. All three will be responsible for expanding the company's Southern California and national retail, office and industrial investment sales practices. Prior to joining, Chris Maling and David Maling were executive vice presidents of retail services and Barnes was a senior vice president of investment sales at Colliers International. Also joining Avison Young from the Maling-Barnes team is associate Paul Clark.
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Colliers International Group has named David Josker as president of the Southwest region. Josker will oversee all the Colliers offices in the Southwest and focus on advancing the company’s growth objectives in the region. Prior to joining Colliers, Josker served as managing director at CBRE.
