Sunday, April 16, 2017

RAF Pacifica Group Announces New Mixed-Use Development in Rapidly Growing Solana Beach, CA Submarket

Adam Robinson
SAN DIEGO, CA – RAF Pacifica Group, a San Diego-based commercial real estate investor and developer, has acquired a 40,000 square-foot land parcel formerly the site of Cedros Gardens, on which the firm plans to develop a 26,000 square-foot mixed-use project integrating high-end restaurants, ground-floor retail, office, and multifamily in the Solana Beach submarket of San Diego.

The land is fully entitled for development, and is located within the rapidly growing Cedros Design District.

Vec•tor will be situated in Carlsbad Oaks North, a 120-acre master planned corporate business park in Carlsbad where leading biopharmaceutical company IONIS Pharmaceuticals is headquartered, and other major biotech companies are located.

Development costs for this project total $30 million. Ware Malcomb has been selected as the architect for this project, and TFW Construction is the general contractor. Vec•tor will be completed in Q2 of 2018.

The Cedros Avenue project will break ground in 2017, with an estimated completion date in 2018. RAF Pacifica Group acquired the 40,000 square-foot entitled land parcel for a total consideration of $5.5 million from a private owner.

“This site is a rare find in the current market,” explains Adam Robinson, Founder & Principal of RAF Pacifica Group.  “The opportunity to acquire land that is fully entitled in the heart of such a vibrant district enables us to create a true lifestyle destination that will support Solana Beach’s ongoing revitalization and drive future economic growth, resulting in long-term value and higher quality of life for the community at large.”

Steve Leonard
The planned development will include 3,200 square feet of high-end restaurant space, 5,000 square feet of ground-floor retail, 8,000 square feet of high quality office, and eight multifamily units all within a walkable, centrally-located urban setting.

“This project exemplifies the type of high-quality, coastal mixed-use projects we are looking to build and hold long-term,” continues Robinson. 

“The demand for highly walkable communities, coupled with a trend toward urbanization, is driving the creation of fully integrated, amenity-rich environments that offer a live/work/play experience and foster a sense of community.”

Robinson notes that walkability is a key component of the economic redevelopment of densely populated cities and districts, and not only attracts residents and businesses, but also substantially increases property values.

Located in the tightly-knit coastal community of Solana Beach, RAF Pacifica Group’s project will be located on the same street as Cedros Avenue Design District, an open-air retail center featuring 85 boutique shops and restaurants. Home furnishings and design retailer West Elm plans to open its first Solana Beach store in this center, and a number of other redevelopments are underway within the Cedros Design District.

    With  Robinson and Steve Leonard at the helm, RAF Pacifica Group oversees a portfolio of 2.75 million square feet of real estate, with a niche focus in mixed-use, office and industrial product. The firm has an additional one million square feet of speculative development in the pipeline over the next 24 months, and continues to actively seek value-add investment and ground-up development opportunities in San Diego County.

For a complete copy of the company’s news release, please contact:

Katie Kea / Jenn Quader
Brower, Miller & Cole
(949) 955-7940


Daum Commercial Closes Land Sale for New Spec Industrial Development in Oxnard, CA

Mitch Conlee
OXNARD, CA – DAUM Commercial, a leading provider of commercial real estate services, has recently directed the sale of a 3.84 acre land parcel within the McInnes Ranch Business Park in Oxnard, California.

The buyer is designing a speculative warehouse distribution building to be developed at the site, according to Mitch Conlee, an Executive Vice President at DAUM’s Ventura County office.

Conlee represented the buyer, E&E Trust, as well as the seller, a Southern California developer, in this transaction.

“The ability to market this fantastic location allowed me to provide the seller with immediate upside based on tremendous demand in this supply-constrained market, which closed 2016 at just 2.7 percent vacancy,” Conlee explained. 

“At the same time, we also brought E&E Trust a valuable development opportunity. This parcel is five minutes from the 101 Freeway in a market with low vacancy and very little state-of-the-art competition. 

“The new owner plans to develop a 52,500 square-foot distribution building with 30-foot clear height in the warehouse, dock-high loading, as well as large aprons and truck courts, to accommodate the increasing traffic driven by e-commerce. 

“The planned development will be in a strong position to meet ongoing demand for new product.”

Conlee has completed several industrial transactions in McInnes Ranch Business Park and the surrounding areas, and drew upon his deep knowledge of the market to direct this acquisition.

The land parcel is located at 500 North Elevar Street, on the corner of Elevar Street and Camino Del Sol in Oxnard.

DAUM Commercial is a leading provider of commercial real estate services including brokerage, tenant representation, consulting, leasing, sales and property management. Founded in 1904, DAUM focuses on longstanding client relationships and draws upon its century-long track record to deliver steadfast insights and proven results to clients throughout the U.S.

DAUM has 10 offices throughout Southern California and Arizona. More information is available at

For a complete copy of the company’s news release, please contact:
Elisabeth Manville/Jenn Quader
Brower, Miller & Cole
(949) 955-7940

Raintree Partners Expands Rapidly; Adds Acquisitions and Operations Veterans to Bolster Growth in California

Annette Thurman
   LAGUNA NIGUEL, CA – Raintree Partners, a private commercial real estate investment company that acquires, develops and redevelops multifamily and mixed-use properties in California, has announced a recent growth milestone accompanied by an expansion of its acquisitions and operations team.

            “We have been extremely active in the market in recent months, increasing our existing portfolio by 25 percent,” explains Aaron Hancock, Managing Director of Raintree Partners.  “We now own nearly 5,000 units throughout California, and we continue to actively acquire assets that meet our investment criteria.”

            Hancock notes that Raintree’s acquisitions team has recently widened its scope to include smaller properties ranging from 25 units and larger.

            “We focused on larger assets for many years, however the market has shifted and we’re nimble enough to shift with it,” says Hancock. 

“We continue to draw upon our expertise in this multifamily niche in order to identify acquisition and development opportunities where we can create and maintain long-term value.”

            In addition to expanding its portfolio, Raintree is launching an intensive renovation program for its existing assets, with plans to implement more than $23 million in capital improvements portfolio-wide in 2017.

Ian Couwenberg

    “As property operators with an owner’s perspective, we recognize the opportunity to improve our assets strategically in order to grow rents, drive ongoing occupancy, and create the best resident experience possible,” explains Jason Check, Managing Director for Raintree Partners. 

            To maintain its active acquisition pace while conducting this capital improvement campaign, Raintree has added two industry veterans to its team, Ian Couwenberg as Director of Acquisitions, and Annette Thurman as Senior Director of Asset Management.

“Ian and Annette are seasoned professionals with the critical skills to continue our forward momentum while maintaining our high standards of excellence,” explains Check.

Ian Couwenberg brings a wealth of industry experience to Raintree.  Most recently serving as Vice President of Acquisitions and Dispositions for Sack Properties, Couwenberg began his career as a multifamily broker for CBRE, and has also been the Director of Investments at Equity Residential and Assistant Vice President of Acquisitions at Archstone Smith.

Annette Thurman boasts nearly two decades of experience in commercial real estate. Most recently, she served as Senior Vice President, Northwest at Alliance Residential Company, where she oversaw 82 assets consisting of nearly 20,000 units.  She also served in senior positions at Riverstone Residential and Fairfield Residential, LLC.  In her new role, Thurman will oversee Raintree’s capital improvement program and spearhead all asset management initiatives.

For a complete copy of the company's news release, please contact:
Elisabeth Manville/Jenn Quader
Brower, Miller & Cole
(949) 955-7940