California

Galvanize Real Estate (GRE), the real estate platform of Tom Steyer’s climate firm Galvanize, has made its first California acquisition with a deal for the Cadillac Court Industrial Portfolio, a four-building campus in Milpitas. The San Francisco Chronicle reported the purchase price as $94 million. Newmark executive vice chairman and president, Western Region Capital Markets …

Drawbridge Realty has extended a lease with Microsoft for the entire 66,106-square-foot Class A office building located at 3201 Scott Blvd. in Santa Clara. The property has been home to Fungible, Inc., which was acquired by Microsoft in 2023, since 2016. Drawbridge acquired 3201 Scott Blvd. in 2012 and subsequently completed a significant renovation of …

JLL Capital Markets arranged the sale of a light industrial portfolio comprising four assets totaling 238,473 square feet in Riverside. Senior managing director Patrick Nally, senior director Ryan Spradling and associate Shae Vomund represented the seller, Oxford Properties. Sierra Ridge Capital acquired the assets with Pacific Properties Group of Los Angeles providing the equity. Working …

 Progressive Real Estate Partners represented a Southern California real estate developer in the sale of a 17,272-square-foot freestanding retail building located at 1380 Barstow Rd. in Barstow for $2.95 million. A local public college acquired the building which was formerly occupied by Rite-Aid.  The retail building is located at the intersection of two major freeways, Interstate …

CBRE facilitated the $32-million sale of Commons at Valencia, a two-building Class A office campus totaling approximately 157,189 square feet, located at 25124 and 25152 Springfield Ct. in Valencia. Strauss Investments LLC acquired the property from Harbor Associates. The CBRE team of Mark Shaffer, Anthony DeLorenzo, Sean Sullivan and Gerard Poutier represented Harbor Associates. “Commons …

Los Angeles-based Decron Properties has made its first acquisition in nearly two years, paying $114 million for an apartment complex along LA’s Miracle Mile. Decron bought 5550 Wilshire Blvd., a 163-unit complex, from Boston-based GID, which acquired the property in 2023, LA Business First reported. JLL’s Blake Rogers represented the seller and buyer. Developed in …

Hoag on Monday announced the opening of the Hoag Hospital Irvine Sun Family Campus, a $1-billion expansion that brings specialized hospitals, outpatient facilities, advanced surgical services and nationally recognized clinical programs together on one integrated campus in Irvine. The expansion adds six new buildings to the hospital campus, as well as 155 inpatient beds, bringing …

CBRE facilitated the $27.8-million sale of Fairway Center II, a 135,308-square-foot office property located at 675 Placentia Ave. in Brea. CBRE represented the institutional seller. The Whittier Comstock, LLC, a subsidiary of MW Investment, LLC and owned by Matt Waken, acquired the property. CBRE’s Anthony DeLorenzo with National Office Properties, along with Sammy Cemo, Bryan …

Marcus & Millichap closed the sale of The Molokai Apartments, a 39-unit multifamily property in San Diego. The property sold for $11.2 million, or $287,179 per unit. “The property received a tremendous amount of attention from the investment community due in part to its spacious floor plans, which average more than 800 square feet and …

CBRE and DivcoWest have completed three significant lease transactions at DiamondView Tower, an office and mixed-use property adjacent to Petco Park in Downtown San Diego’s Ballpark District. Totaling more than 40,000 square feet, recent leasing activity includes a new, long-term office lease with Gensler, a renewal and extension by GoFundMe and the opening of Lucca …

The Mogharebi Group (TMG) represented Bay Area-based Tesseract Capital Group in the sale of The Marc at 1600, a 100-unit multifamily community located at 1600 Standiford Ave. in Modesto. The buyer was a private family office from Southern California, which paid $26.6 million.  TMG’s team of EVP Otto Ozen, SVP Brian Nakamura and SVP Nazli …

The Wonderful Company announced that its Wonderful Real Estate business has completed the sale of 5104 Express Ave. to a major global technology and e-commerce company. The newly constructed 1,088,047-square-foot, Class A industrial facility is located at the Wonderful Logistics Center in Shafter and marks the buyer’s third location at the 2,000-acre, fully entitled, master-planned …

JLL Income Property Trust has acquired Roseville Outpatient Center, a Class A medical outpatient building totaling approximately 42,000 square feet, for approximately $19 million. The single-story medical outpatient building is currently 95% leased to a mix of tenants, anchored by a leading integrated healthcare tenant, with an approximately 12-year weighted average lease term. The property …

Newmark said Thursday the company facilitated a 21,105-square-foot industrial lease on behalf of Nominal Machining at 11415 Folsom Boulevard in Rancho Cordova. Senior managing director Mike Smith, associate director Cole Cummings and associate Irina Shpyrka represented Nominal Machining in negotiations. Nominal Machining is a precision computer numerical control machine manufacturing company serving aerospace, defense, semiconductor …