The LA Deal Sheet
Furniture retail giant Mathis Brothers Furniture will open its third Southern California store and first Orange County location in the Irvine Co.'s The Market Place shopping center.
Mathis Brothers will occupy a 160K SF store on the Irvine side of the 165-acre retail center. Parts of the center are in Tustin. Terms of the deal were not disclosed.
“As a family-owned business, we pride ourselves in seeking out best-in-class retail locations that are at the heart of communities, and where we’ll be among other premier merchants and restaurants," Mathis Brothers spokeswoman Rit Mathis said in a news release. “We look forward to providing regulars and destination shoppers alike with a one-stop-shop for all their home furnishing needs — including style, comfort and value.”
The new showroom will feature an 8K SF atrium and offer more than 10,000 items.
The new Mathis Brothers store is slated to open early next year.
The Oklahoma City-based company has two other stores in Southern California, one in Ontario and another in Indio.
SALES
A private investor has purchased a 22-unit apartment building in West Hollywood from an undisclosed seller for $9.6M. Built in 1958, the property at 1267 North Laurel Ave. features a mix of studios, one- and two-bedroom units. Marcus & Millichap's Jordan Asheghian and Tony Azzi represented the buyer and seller.
***
A Berkeley-based private investor has purchased a 9,200 SF medical building in Long Beach from Meridian for $8.4M. The outpatient dialysis clinic is at 1090 Atlantic Ave. Matthews Real Estate Investment Services' Rahul Chhajed and Michael Moreno represented the buyer. Meridian was self-represented.
***
A private investor has purchased a 26-unit multifamily apartment complex in Downey from an undisclosed seller for $6M. The Bellflower Boulevard Apartment Homes features a mix of 17 one- and two-bedroom units and sits on an 18,800 SF lot at 11638 Bellflower Blvd. CBRE's Dan Blackwell and Priscilla Nee represented the seller.
***
A private investor has purchased a 19-unit multifamily apartment building in North Hills from 14612 Wyandotte LLC for $4.87M. Built in 1985, the 15K SF apartment building at 15216 Nordhoff St. sold for $318/SF, the second-highest price per square foot in North Hills, according to the brokers. Marcus & Millichap's Rick Raymundo and Robert Narchi represented the seller.
***
A private investor has purchased a 16-unit apartment building in West Hollywood from an undisclosed seller for $5.9M. The apartment at 1020-1026 North Crescent Heights Blvd. sold for $368,750 per unit. Marcus & Millichap's Sam Liberow and Max Gersht represented the seller.
LEASES
JV Industrial Cos. has signed a five-year, $1M lease with Mark Leevan Investment Co. to occupy a 15,580 SF refurbished industrial building at 10225 Greenleaf Ave. in Santa Fe Springs. The Klabin Cos.' Tyler Rollema and Matthew Stringfellow represented JV Industrial. Lee & Associates' Mollie Dietsch represented the landlord.
***
BottleKeeper has signed a three-year lease with The Ruane Group to occupy a 3,722 SF creative office at 219 West Grand Ave. in the Smoky Hollow district of El Segundo. The financial terms of the deal were not disclosed. Avison Young's Ted Simpson and Erik Stiebel represented BottleKeeper. Landlord The Ruane Group was represented by Matt Crabbs with Re/Max Estate Properties.
***
Exer Urgent Care has signed a lease with a private landlord to occupy a 7K SF former Aaron Brothers building at 2090 Westwood Blvd. in Los Angeles. Highland Partners Corp.'s Brent Cunningham represented Exer Urgent. The Passman Group's David Passman and Michael Navi represented the landlord.
***
The Irvine Co. has signed four companies to leases at The Launch, a two-building office campus totaling 120K SF at 18600 and 18650 MacArthur Blvd. in Irvine.
● Office Furniture Group, a furniture and audio visual supplier for corporate interiors, healthcare, entertainment and hospitality, leased 11,629 SF.
● SAA interiors + architecture, a commercial design and architectural firm, leased 6,679 SF.
● Berkshire Hathaway HomeServices California Properties, a full-service residential and commercial real estate firm, leased 6,538 SF.
● Talonvest Capital, a boutique commercial real estate finance advisory firm, leased 2,333 SF.
EXECUTIVE NEWS
David Frey has joined HOK as a senior principal and technical principal. Frey will be responsible for leading the technical direction and development of all projects designed in the company's Los Angeles studio. Prior to joining HOK, Frey served as the North American Technical Director at Woods Bagot Architects.
***
Scott Caswell has been named managing director and a member of the board of directors at Lee & Associates' LA North/Ventura office. Caswell will be based in the Calabasas office. Caswell is a 35-year industry veteran specializing in industrial and investment sales and leasing. He most recently served as a principal at Lee & Associates.
***
Goldrich Kest has promoted Paul Dubord as executive vice president of operations. Dubord will continue to oversee human resources, payroll, technology, learning and development and will now have responsibility for marketing and facilities functions. Dubord previously served as the vice president of information technology. He joined Goldrich in 2016.
***
Kennedy Wilson Brokerage has hired Scott Gordon as a senior vice president of property services in its Los Angeles office. Gordon will provide full-service consultation and brokerage services to investors, landlords, tenants and emerging retail and food and beverage concepts. Prior to joining Kennedy Wilson, Gordon was the founding partner of his own firm, Gordon Group Properties.
OTHER NEWS
Irvine-based flexible workspace operator Premier Business Centers has rebranded as Premier Workspaces. Premier officials said the rebranding is part of an effort to modernize the 17-year-old company and reflects the changing coworking, shared office and executive spaces.
"The new name more accurately reflects the products and services that we offer and the modern look and feel of our centers while at the same time embracing all of the existing principles of what our original name stood for these past 17 years," Premier CEO Jeff Reinstein said.
Founded in 2002, Premier is a subsidiary of The Bascom Group. Premier has more than 90 shared workspace locations.
