Avison Young in Newport Beach has negotiated an 11-year, 19,000-square-foot medical office lease for Eden Fertility Management at Newport Heights Medical Campus, a newly built campus also in Newport Beach. Terms were not disclosed. (Courtesy of Avison Young)
Avison Young in Newport Beach has negotiated an 11-year, 19,000-square-foot medical office lease for Eden Fertility Management at Newport Heights Medical Campus, a newly built campus also in Newport Beach.
Terms were not disclosed.
Avison Young Principal Michael Dettling, who is based in the company’s Los Angeles North office, represented Eden Fertility, a provider of clinical, administrative and business development services to both in vitro fertilization (IVF) practices. The landlord, Newport Heights Ventures, was represented by Bryan McKenney of Cypress West Partners.
Built in 2017, Newport Heights Medical Campus at 20350 to 20360 Birch St. includes 60,000 square feet. With this latest lease, the campus is now fully leased. Dettling recently represented Starpoint Health in leasing 9,000 square feet and California Foot and Ankle in leasing 4,000 square feet within the property.
Lake Forest sale
CBRE has closed the sale of 71 at the Park, a creative office property at 25371 Commercentre Drive in Lake Forest, for $11.7 million. The buyer was an unidentified overseas investor.
CBRE’s Anthony DeLorenzo, Gary Stache, Doug Mack, Jeff Carr and Brian Cole represented the seller, Harbor Associates.
In a testament to the county’s strong office marketplace, “this property generated seven offers,” DeLorenzo noted in a statement.
Lee & Associates in Newport Beach negotiated the sale of 2940 E. La Jolla in Anaheim for $2,975,000 to Performance Powdercoat. The building will accommodate an expansion of the company’s existing operations, as well as recentincreases in product orders, according to a statement. The buyer, the brokerage said, will partially occupy the divisible building and consider expanding into the remainder in the future.
The firm also closed the sale of 1837 Neville in Orange, which sold for $2,777,600. The buyer was GZS Holdings. Sean Ahern represented the seller, Michael Sitton Family Trust.
Rick Turner and Brett Wallach, also of Lee & Associates – Newport Beach, represented the buyers of both buildings, with an average price per foot of $235/SF.
CBRE’s Capital Markets’ Debt & Structured Finance team in Newport Beach has arranged a $24.3 million loan for the refinance of Stater Bros. Plaza in Chino. Marina Massari and Sharon Kline at CBRE arranged the 36 months interest-only, five-year loan for the borrower, Euclid Plaza LLC, through Buchanan Mortgage Holdings, a division of Buchanan Street Partners.
Stater Bros. Plaza at 6989 Schaefer Ave. is on 6.86 acres and consists of 73,641 square feet of rentable area. The center, built in 2008, is anchored by Stater Bros. Market and includes tenants Chase Bank, Subway, Sprint, The UPS Store, and Mountain Mike’s Pizza.
Denver HS-EF Court Place, a joint venture between High Street Real Estate Partners in Atlanta and Eagle Four Partners in Irvine, has acquired the Sheraton Denver Downtown Hotel for an undisclosed price. The deal was brokered by HFF.
Offering 1,231 guestrooms and suites, 133,000 square feet of event space, rooftop pool, a fitness center and restaurants, the new ownership group is developing a major renovation plan for the hotel to coincide with Marriott International’s re-launch of the Sheraton Hotels and Resorts brand.
The U.S. Department of Housing and Urban Development and the U.S. Department of Veterans Affairs have awarded $2,773,594 to provide a permanent home to an estimated 141 homeless veterans in Orange County. The rental assistance is provided through the HUD-Veterans Affairs Supportive Housing (HUD-VASH) Program, which combines rental assistance from HUD with case management and clinical services provided by VA.
HUD-VASH funds both housing and supportive services to help homeless veterans, many of whom are living in unsheltered locations.
The Saywitz Co. in Newport Beach has hired Rada Calkin and Veronica Eshelby. Calkin comes to the firm with experience in accounting and administration. She previously worked for Liptz & Associates in Newport Beach and Sales Coaching Inc. in Irvine. Calkin will assist the company’s brokerage and property management divisions in coordinating the office administration group. Eshelby has previous experience in sales and administration. Her role will be to coordinate with the company’s administrative group and assist in coordinating with the marketing for the brokerage division.
Stanfield Real Estate and Pacific Sotheby’s International Realty will host a home seller seminar from 1-2:15 p.m. Tuesday, Oct. 23 at the Ayres Hotel, 325 Bristol St. in Costa Mesa.
Topics will include how to pay zero taxes when selling; costly mistakes to avoid; and how to sell for the absolute highest price. The event is free. To register, call 714-442-0736.
The real estate briefs are compiled by contributing writer Karen Levin and edited by Business Editor Samantha Gowen. Submit items to firstname.lastname@example.org. High-resolution images also can be submitted. Allow at least one week for publication. Items are edited for length and clarity.