This Week's LA Deal Sheet: New 20K SF Tenant Headed To Beverly Connection
Ashkenazy Acquisition Corp.’s Beverly Connection has signed a 20K SF lease with Bloomingdale’s Outlet.
The new outlet store will offer apparel, accessories, beauty and housewares and will open on the ground level along La Cienega Boulevard later this year. Saks Off Fifth, Nordstrom Rack, Men’s Warehouse, Marshall’s, Ross, J. Crew, Target, TJ Maxx and CVS are other tenants at the property.
PEOPLE
Kidder Mathews promoted Eric Paulsen to chief operating officer. In this role, Paulsen will oversee operations across the firm’s 19 locations in Washington, Oregon, California, Idaho, Nevada and Arizona.
Prior to his promotion, Paulsen served as KM’s president of brokerage, where drove Kidder Mathews’ growth as the largest fully independent commercial real estate firm in the Western U.S. Paulsen has been at KM since 2021.
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Suffolk Construction has hired Jeff Hoopes as president of the West Coast and Stephen Green as general manager of Los Angeles.
Hoopes joins Suffolk from Swinerton Construction, where he served as CEO and most recently as chairman emeritus. Hoopes will be expand Suffolk’s presence throughout the West Coast and oversee California operations. A native Californian, Hoopes has over 40 years of experience in the construction industry.
Green has over 30 years of experience in the construction industry, specializing in healthcare and life sciences projects throughout California. He will identify new opportunities within healthcare, especially in Southern California. Green joins Suffolk from Trubeck Construction, where he served as a vice president of operations.
SALES
CBRE negotiated the $32M sale of Mission Ridge, a four-story, 234K SF office property located at 27101 and 27201 Puerta Real in Mission Viejo to Barker Pacific Group and Kingsbarn Realty Capital.
CBRE Investment Properties Sean Sullivan, Todd Tydlaska, Anthony DeLorenzo, Sammy Cemo, Bryan Johnson and Grant Goldman represented the institutional seller in the transaction.
The building was originally built in the early 2000s but was renovated in 2021 with new lobbies, restrooms, conference center, tenant lounge and gym.
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DAUM Commercial Real Estate Services has completed the sale of a 2.6-acre parcel with two buildings totaling 23K SF in Stanton. Executive Vice President Anthony Bergeman, Vice President Michael Chase and Vice President Krishna Shegran of DAUM’s capital markets group represented the buyer in the acquisition of this low-coverage industrial outdoor storage site. The sale price was not disclosed.
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CBRE arranged the $7.2M sale of Newport Victoria Plaza, a 43K SF office property in Costa Mesa, to a local private investor. CBRE's Anthony DeLorenzo, Sammy Cemo, Bryan Johnson and Harry Su represented the private seller in the transaction. It is located in Costa Mesa, providing access to executive and affordable housing and large labor bases.
LEASES
American Lithium Energy, a manufacturer of lithium-ion batteries, signed a new 82K SF lease at 1395 Aspen Way in Vista, near San Diego. The firm is expanding from 21K SF in Carlsbad and will use its new space for research and development, manufacturing and distribution of its batteries. American Lithium Energy is scheduled to move into its new space in Q4 2025. JLL’s Tim Olson represented American Lithium Energy in the lease.
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The Klabin Co./Corfac International announced the completion of a lease at 1124 E. Del Amo Blvd in Carson. The 15K SF industrial manufacturing facility in the DWS Group-owned Carson Industrial Center has been leased to FlightWave Aerospace Systems, a drone company.
The Klabin Co.’s Nick Buss and Frank Schulz represented FlightWave in the more than three-year lease. The facility features main boulevard exposure, dock-high loading and has recently undergone refurbishment. DWS Group was represented by Steve Bohannon and Rusty Smith of Cushman & Wakefield.
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NAI Capital Commercial Executive Vice President Adam Comora negotiated a roughly 12K SF sublease on behalf of ColourPop Cosmetics at 15233 Ventura Blvd. in Sherman Oaks. ColourPop will occupy Suite 900 at Valley Office Plaza, located at the corner of Ventura and Sepulveda Boulevard. JLL Managing Director Jim Schoolfield and Executive Vice President Michael Freiberg represented the sublessor.
CONSTRUCTION AND DEVELOPMENT
R.D. Olson Construction broke ground on Phase 2 of Rose Hill Courts, a $57.8M affordable housing development in El Sereno. The second phase II follows phase one, which opened in 2023. R.D. Olson Construction has partnered with the Housing Authority of the City of Los Angeles and Related California on the project. When complete, phase 2 will contain 96 units.
FINANCING
Bolour Associates Inc. provided a $19M, 12-month cash-out refinance loan through its affiliate, BA Debt Fund LLC, for a centrally located retail center in Rancho Cucamonga. The 106K SF center at 8601 Base Line Road is anchored by a Smart & Final grocery store. The center is 99% leased. Preston Davey of Marcus & Millichap represented the borrower.
