The following criteria were considered for the “Recent Transactions”: FOR SALE: Purchase price of $500,000 and above. FOR LEASE: Lease value of $100,000 or above.
NAI Capital is pleased to announce the following recent transactions…
FONTANA, CA – Barry Blake with the Temecula Valley office represented the Tenant, Ono Hawaiian BBQ, in the lease of a 2,083 SF retail property located at 17009 Valley Boulevard in Fontana, CA from the Landlord, Lundin Development Company. The value of the lease transaction was $405,185.
LAKE ELSINORE, CA – Dave Carpenter with the Temecula Valley office represented the Tenant, 9109 Alondra LLC, in the lease of a 5,000 SF retail property located at 15573 Grand Avenue in Lake Elsinore, CA from the Landlord, Rankins John T. The value of the lease transaction was $311,400.
COVINA, CA – Daniel Hu with the Commerce office represented the Buyer, Bonita Management, LLC, in the purchase of a 3,565 SF retail property located at 1319 N. Grand Avenue in Commerce, CA from the Seller, J&J Covina Center, LLC. The value of the sales transaction was approximately $1.3 Mil.
FONTANA, CA – Alejandra Valenzuela with the Commerce office represented the Tenant, King Taco, in the long term lease of a 7,500 SF retail property located at 9800 Sierra Avenue in Fontana, CA from the Landlord, Fontana Plaza L.P. The length of the lease is 10 years and the value of the lease transaction was approximately $1.8 mil. More >
BEVERLY HILLS, CA – Shari Baner, Senior Vice President with NAI Capital’s Encino office, represented the Seller, Zintel Holdings, and the Buyer, Cowboy and Company LLC, in the sale and purchase of an 8 unit multifamily property located at 325 North Palm Drive in Beverly Hills, CA. The value of the transaction was not disclosed. More >
Calendar of CRE Events in Greater L.A. for June 2013
6/3/13-6/5/13: ULI – Real Estate Finance I – Marina Del Rey, CA
Location: Marina Del Rey Marriott
Marina Del Rey, CA
6/3/13-6/5/13: ULI – Real Estate Development Process: Part I – Marina Del Rey, CA
Location: Marina Del Rey Marriott
Marina Del Rey, CA More >
NORTH CAROLINA, – Deborah K. Luedy with NAI Capital’s Pasadena office and Dave Stolte and John Alstrom with the Orange County office represented the Buyer, Forest Pointe Apartments, LLC, in the purchase of a multi-unit independent senior living community comprised of over 150 units located in North Carolina from the Seller, Statesman Group of Companies. The value of the sales transaction was undisclosed. More >
TORRANCE, CA – Sheri Messerlian, Senior Vice President with NAI Capital’s South Bay office represented the Buyer, Beverly Hills Ferrari Maserati, in the purchase of a 28,500 sq. ft. commercial parcel of land located at 23305 Hawthorne Boulevard in Torrance from the Seller, Vivial Markham Trust. The value of the sales transaction was $2.3 Mil. More >
Last year, the California legislature enacted a new law (Civil Code Section 1938 if you are keeping score at home) requiring ALL commercial leases of commercial property signed after January 1, 2013 to disclose whether the leased premises have ever been inspected by a Certified Access Specialist and if so what the results of the inspection revealed. A “Certified Access Specialist” is a professional licensed by the State of California for the specific purpose of inspecting buildings to determine whether the building meets ADA standards. This profession was created as part of the legislature’s attempt to rein in small business shakedowns brought by professional ADA lawsuit plaintiffs alleging technical ADA violations like misplaced paper towel or toilet tissue dispensers. The Legislature did not say what would happen if the lease did not contain this newly required provision. However, if a lease does not contain the required language and a claim arises, the effect of not having that language may include shifting all of the liability to the landlord regardless of other lease language, such as that contained in the AIR forms that try to put that liability on the tenant. Thus, it would be better to be safe than sorry and include this as an addendum in any AIR form leases. More >
DRIPPING SPRINGS, TX – Michael B. Rubin with NAI Capital’s Westlake Village office represented the Buyer, Verdugo South, LLC, in the purchase of a 13,903 sq. ft./ two-acre retail center Shops at the Springs located at 333 Hwy 290 East in Dripping Springs, Texas from CVC DS, LP, the Seller. The value of the sales transaction was approximately $3.9 million. More >