NewMark Merrill Building Retail Center: The Los Angeles Deal Sheet
NewMark Merrill Cos., World Premier Investments and R.Y. Properties Inc. received entitlements to develop Desert Sky Plaza II, a 30-acre, 297K SF shopping center at the southeast corner of Roy Rogers Drive and Amargosa Road in Victorville.
Desert Sky Plaza II will be the second phase of the Home Depot-anchored Desert Sky Plaza.
Developers plan to break ground in the second quarter, with an opening planned for fall 2027.
The new phase will be anchored by Target and Burlington. Desert Sky Plaza is roughly 70% committed. Greg Giacopuzzi and Darren Bovard of NewMark Merrill are leading leasing at the center.
SALES
Aspen Real Estate Financial, the Housing Authority of the County of San Bernardino and the California Affordable Housing Agency purchased the Golden Sands Apartments, a 120‑unit multifamily complex at 15930 Nisqualli Road in Victorville, for $21M.
CBRE’s Cray Carlson represented the seller, Hanes Golden Sands Apartments LP. The buyer was advised by Matt Benwitt of Lee & Associates.
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Kidder Mathews has brokered the approximately $15M sale of a 47K SF industrial property in Burbank. The brokerage’s Tanel Harunzade and Darrell Levonian represented the seller, a family-owned investment company. The buyer was a local private investor.
The property at 2231-2249 N. Hollywood Way is fully occupied and leased to four tenants. The building features multiple bays and flexible warehouse and office configurations. It sits next to the planned Burbank Aero Crossings mixed-use campus, which will redevelop the former Fry’s Electronics site into office, retail and 862 apartments.
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Interwoven Studios spent $5.25M to buy a fully equipped 6K SF soundstage at 800 Seward St. in the Hollywood Media District.
CBRE’s Nicole Mihalka and JLL’s George Stavaris represented the seller, Line 204. Interwoven Studios acquired the property as part of its expansion as an emerging operator in the studio and production space industry.
The roughly 10K SF freestanding building features a 100-by-60-foot soundstage with 24-foot clear height, conference rooms and private office space.
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Barker Pacific Group acquired The Quad, a Class-A office campus in Carlsbad, from Regent Properties for an undisclosed price.
The property at 5740-5770 Fleet St. features approximately 180K SF of office and research and development space in four two-story buildings with floor plates typically between 21K SF and 24K SF. The Quad was acquired at roughly 73% occupancy. Amenities include a gym and an event space.
The Cushman & Wakefield team of Aric Starck and Drew Dodds represented the seller. They are also staying on as the leasing agents, along with Matty Sundberg from CBRE.
LEASES
Lincoln Property Co. inked two new leases totaling more than 65K SF on behalf of the ownership of Santa Monica Gateway, a two-building Class-A office property at 2834 Colorado Ave. in Santa Monica.
Healthcare apparel company Figs signed a new 39K SF lease for the entire fourth floor, and women’s health supplement brand O-Positiv signed a new 26K SF lease for the entire first floor.
Lincoln’s Kent Handleman and Douglas Brown represented the landlord as the exclusive leasing agents for the property. Andrew Sinasohn at Zacuto Group represented O-Positiv, and Figs was represented by Jacob Bobek, Scott Steuber, Jonathan Dezzutti and Michael Gray at CBRE.
