Marcus & Millichap closed the sale of 1471 Fair Oaks Ave., an 18-unit apartment property in Pasadena. The asset changed hands for $4 million, or $222,222 per unit, at a cap rate of 4.38% and a GRM of 12.65. Tony Azzi, president and founder of The Azzi Group at Marcus & Millichap, arranged the sale …
Construction has begun on the landside portion of the $600-million revitalization project known as the Commercial Core at Dana Point Harbor. A groundbreaking took place Feb. 7 to commemorate the milestone in the multiyear project. Spearheaded by Burnham Ward Properties (BWP), the five-phase, 120,000-square-foot landside portion of the revitalization project will focus on Dana Point Harbor’s restaurants and …
Gantry secured a $12.8-million permanent loan to fund the recapitalization of a 99,000-square-foot grocery-anchored retail property within the Citrus Landing retail center in Riverside. Located at 7200 Arlington Ave., the property is anchored by Stater Bros, AutoZone and Ross. Principals Braden Turnbull and George Mitsanas and associate Austin Ridge with the firm’s Los Angeles (El …
Northmarq completed the sale of a nine-unit garden-style multifamily property in North San Diego for $3.15 million. Erik Anderson and Benn Vogelsang, both SVPs with Northmarq’s San Diego multifamily investment team, represented the buyer, RP Vintage Meade Holdings, LLC. The seller, The Ferreira Trust, was represented by Bob Rodrigues of Real Properties Group Real Estate …
A decline in venture capital funding for Bay Area life sciences mirrors a rising vacancy level in the sector, Avison Young said Tuesday. VC funding barely surpassed $500 million for the fourth quarter of 2023, in contrast to the life science boom of 2020 to mid-2022, when quarterly funding regularly exceeded $2 billion. “As we …
Karena Gilbert has joined CBRE’s Boise office with Advisory & Transaction Services. She will specialize in office sales and leasing for investors, landlords and tenants. Gilbert brings more than 18 years of brokerage and commercial construction experience to the company, most recently with Colliers. Prior to that, she served as an office brokerage specialist with …
