Entertainment Venue Underway In Anaheim: The Los Angeles Deal Sheet

A new live entertainment venue is expected to open in Anaheim in March 2027. Designed by Populous, the venue can hold 5,000 people and is part of the larger OCVibe development, a $5B, 100-acre mixed-use district near the Honda Center and the Anaheim Regional Transportation Intermodal Center transit hub. 

The Honda Center is also undergoing a $1B renovation as part of the development around it. The first phase of OCVibe is scheduled to open in March 2027. 

PEOPLE

SRS Real Estate Partners opened a new office in Santa Barbara and hired veteran retail real estate adviser Mike Hieshima as senior vice president and principal. Prior to joining the firm, Hieshima served as executive director at Lockehouse Retail Group. He has nearly four decades of experience in CRE. 

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CBRE hired Alex Heim as a senior vice president in the Ontario office, where he will focus on industrial land, development, sales and leasing. Heim has more than a decade of experience in the Inland Empire industrial market.

He previously spent 13 years with Lee & Associates in Ontario, where he served as senior vice president and principal. He has worked on over 1,000 acres of land sales, 12M SF of leasing and a development pipeline exceeding 15M SF. 

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Colliers hired industrial specialist Brad Fox to its Orange County and Inland Empire brokerage. He brings over 12 years of transaction experience across sales, leasing, land assemblage and site selection.

SALES

Eagle Partners announced the closing of a $162.5M affordable housing preservation portfolio acquisition of The Hendrix Apartments and The Hadley Apartments in Escondido.

Together, the properties hold 551 units of one- and two-bedroom residences serving renters over 55 years old. Eagle Partners plans a long-term affordable preservation strategy at the complexes as well as a targeted capital improvement program.  

Eagle partnered with Red Stone Equity Partners, JPMorgan Chase, the California Statewide Communities Development Authority and Affordable Housing Access to complete the transaction.  

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The Klabin Co./Corfac International represented seller CSME Partners LLC in the sale of an 83.5K SF industrial building at 1800 S. Anderson Ave. in Compton. The transaction was valued at roughly $28M. The buyer, Yuejie Inc., will use the property for warehouse and distribution services.

Nick Buss, Frank Schulz and Tyler Rollema of The Klabin Co. represented CSME. Kidder Mathews’ Andrew Dilfer, Luke Staubitz and Harvey Beesen represented Yuejie.

CONSTRUCTION AND DEVELOPMENT

Community Corp. of Santa Monica broke ground on Jubilo Village, Culver City’s first 100% affordable housing development since 2013 and its largest ever. The 95-unit building was designed along with Culver-Palms United Methodist Church, which owns the property. 

Fifty-one apartments are designated for households earning 50% to 80% of area median income, and 42 are reserved for families earning 30% to 50% of AMI and those with special needs, who will receive vouchers from the Culver City Housing Authority and on-site supportive services from Upward Bound House. 

THIS AND THAT

The Port of Los Angeles awarded Skanska a $102M contract for the Port of Los Angeles Avalon Pedestrian Bridge and Promenade Gateway project and the Los Angeles waterfront.  

The Avalon Pedestrian Bridge and Promenade Gateway will transform 12 acres of former industrial land into open space that features a landscaped entry plaza, an overlook, terrace seating areas, public pathways and a 40-foot-tall sundial. It will connect to the Wilmington Waterfront Promenade.

Work on the project will begin this month and is expected to be complete in August 2028.