Alterra Buys Riverside IOS Site From Greenlaw: The Los Angeles Deal Sheet
Alterra IOS acquired a nearly 14-acre industrial outdoor storage facility at 1595-1600 Columbia Ave. in Riverside from Greenlaw Partners.
The property is 100% leased to “one of the largest privately held building materials suppliers in the U.S.,” according to a release from Colliers. The sales price wasn't disclosed.
Colliers’ west industrial capital markets team, including Michael Kendall, Gian Bruno, Kenny Patricia, Kylie Jones, Mark Zorn and Cory Whitman, marketed the property and represented the seller and buyer.
PEOPLE
Savills hired Christian Palmer as senior vice president of enterprise solutions. The role is within Savills’ global occupier services practice.
Palmer comes to Savills from Colliers, where he was also a senior vice president in occupier services. Palmer will be based in Orange County but work globally.
SALES
CBRE facilitated the $10.1M sale of an 81K SF office property at 12898 Towne Center in Cerritos. Scan Health Plan will occupy the property. CBRE’s Mark Shaffer, Sean Sullivan, Grant Goldman, Mike Longo and Melissa Moock, as well as Colliers' Todd Tydlaska, advised the seller. CBRE’s Tom Sheets represented the buyer.
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CBRE arranged the $9M sale of Stewart Plaza, a 47K SF office property at 440 N. Mountain Ave. in Upland. A partnership between a local investor and a medical group acquired the property. CBRE’s Sammy Cemo, Austin Reuland, Anthony DeLorenzo and Bryan Johnson represented the seller, Stewart Plaza Owner LLC. The three-story, Class-A office building has undergone over $1M in renovations in the past two years.
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Institutional Property Advisors announced the sale of Echo Park Village, a 22K SF retail center on Glendale Boulevard in Echo Park, to Optimus Properties LLC. The sale is Optimus’ third retail acquisition in the Echo Park neighborhood. Tenants at the property include Gra Pizzeria, Clark Street Bread, One Down Dog yoga studio, Butchr Bar, The Strength Shoppe, Henrietta and A Good Used Book. A sales price wasn't disclosed.
LEASES
The Klabin Co./Corfac International leased a 159K SF industrial facility in Perris to Northwest Group LLC, a soft goods manufacturer. The property is in the First Harley Knox Logistics Center at 4742 Redlands Ave. in Perris. Northwest Group was represented by Klabin Co.’s Nick Buss and Edwin Rosales in the transaction, which was valued at almost $7.9M.
CONSTRUCTION AND DEVELOPMENT
Crews completed the topping out of a $76M student housing complex at the California State University, Dominguez Hills campus, Urbanize LA reported. The project will hold housing for 365 students, a multipurpose room, administrative spaces, laundry facilities and a new courtyard. The general contractor on the project is C.W. Driver.
THIS AND THAT
Premier Workspaces has opened a new coworking space in El Segundo at the Atrium at Continental Park. The approximately 21K SF space will offer private offices, team suites, meeting rooms and shared workspaces, including space available on an on-demand basis.
