This Week's LA Deal Sheet

Atlas Capital Group announced that online marketing and media company Prodege has signed a 35K SF office lease at 2030 East Maple in El Segundo. The office will function as the company’s new headquarters.

Prodege relocated its headquarters from a high-rise office building in El Segundo to this single-story building on the 2030 Maple campus in the hopes of creating a “unique collaborative environment” for its employees.

JLL’s Steve Solomon and Kristen Bowman represented landlord Atlas Capital Group, in the lease, while David Toomey at Cresa represented Prodege.

SALES

KP Airport Professional Center sold its Airport Professional Center campus in Irvine. The center is two creative office buildings, a total of 39.9K SF, within the Irvine Business Complex and adjacent to John Wayne International Airport. The center, which is 65% leased, sold to a private investor for an undisclosed amount. Cushman & Wakefield’s Jeff Cole, Ed Hernandez, Nico Napolitano and Brad Brandenburg represented the seller. 

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Shopoff Realty Investments sold a 0.95-acre lot within its Uptown Newport master development, for $26.26M. USA Infrastructure Investments plans to develop a 66-unit luxury condo project.

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Harbor Associates in a joint venture with The Bascom Group has acquired Stewart Plaza, a 94.5K SF medical office campus in Upland for $10.25M. Stewart Plaza is currently 55% leased to both traditional and medical office tenants and located in an opportunity zone. CBRE’s Gary Stache, Sammy Cemo, Anthony DeLorenzo, Doug Mack and Bryan Johnson represented the seller, a private investor, in the transaction.

FINANCING

George Smith Partners secured a $23.5M bridge loan to refinance existing construction debt for the recently completed Newhall Crossings, which contains 47 Class-A apartments over street-level retail. George Smith Partners principal and Managing Director Jonathan Lee and his team secured a 5.76% fixed rate for a one-year term with two six-month extensions.