JLL completes sale of 37,000 SF San Diego medical office building on the campus of the Scripps Mercy Hospital Chula Vista, CA

SOLD: 450 4^th Avenue, a nearly 37,000-square-foot
 medical outpatient building in Chula Vista, CA

 

SAN DIEGO, CA –  JLL Capital Markets has completed the sale of

450 4^th Ave., a nearly 37,000-square-foot medical outpatient building in Chula Vista, California. The price was not disclosed.

 

JLL’s Medical Properties Group represented the seller, Turner Impact Capital, and procured the buyer, Cypress West Partners in a joint venture with TPG Angelo Gordon, a diversified credit and real estate investing platform within TPG.

Matt DiCesare

450 4^th Ave. is located on the campus of the 173-bed Scripps Mercy Hospital Chula Vista. The property serves the broader southern San Diego area and is conveniently located between the 5 and 805 Freeways.

 

Renovated in 2015, the four-story property is currently leased to 12 tenants, including anchor tenant Scripps Health.

 

JLL’s Capital Markets Investment Sales and Advisory team representing the seller was led by Director Matt DiCesare and Senior Managing Director Evan Kovac.

 

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

Evan Kovac

The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization.

 

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

 

For more news, videos and research resources, please visit JLL’s newsroom. 

 

Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.   

 

 

 

CONTACT:

Grace Lewis

PR, Capital Markets

JLL

2401 Cedar Springs Rd.

Dallas, Texas 75201

M +1 903 520 3478

JLL.com

 

Stos Partners completes $9 million sale of 21,980-SF industrial building in La Mirada, CA

CJ Stos

LOS ANGELES, CA  – Stos Partners, one of the most active commercial real estate investment and management firms, has announced the successful sale of a 21,980-square-foot industrial building located at 14575 Firestone Boulevard in La Mirada, California to an owner user for $9.25 million.

Jason Richards

Stos Partners acquired the vacant building in June 2022.  Led by Principal and Founder CJ Stos, Partner Jason Richards, Executive Vice President Jay Boyle and Vice President of Acquisitions Tanner Jansen, the company implemented a capital improvement program to stabilize the asset.

 Improvements included parking lot resurfacing, door renovations, LED lighting systems, and mechanical improvements, among others.

“The Los Angeles industrial market has remained strong despite some turbulence in the economy,” says Stos.  “Our team identified this asset’s value during the initial acquisition in 2022. Through deep relationships with local brokers, we were able to secure a buyer in a timely manner.”

Jay Boyle 

“This market saw vacancy rise slightly to 4.8 percent with rents also creeping down, according to JLL’s Q1 Los Angeles Industrial Report,” said Jansen. 

 “We continue to see strong interest from owner-users in key Los Angeles submarkets. “We worked with the buyer on a difficult zoning process with to obtain a Conditional Use Permit (CUP) for their use.”

Built in 1964, the subject property features 21,980 square feet of warehouse space. It offers I-5 Freeway frontage with 24-foot clear height.

Tanner Jansen

Stos Partners was represented by Brad Schneider and Nick Krakower of Lee and Associates.

 

About Stos Partners

Stos Partners is a privately held commercial real estate investment and management firm that invests in real estate directly and in partnership with high net worth and institutional investors.

 

With a track record spanning over $1.7 billion in transactions to date, the firm targets the most competitive risk-adjusted returns in the marketplace through value-add acquisitions and strategic repositioning of industrial and multifamily assets of both institutional and small-to-mid-cap commercial properties.

Brad Schneider

Headquartered in San Diego, California with an office in Orange County, California and Laredo, Texas, Stos Partners’ local expertise and longstanding relationships translate into the ability to source, fund and close transactions quickly and profitably. 

Nick Krakower

 

 

CONTACT:

 David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member of the National Association

 of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”

 

www.stospartners.com.

 

$21 million in acquisition financing secured by JLL Capital Markets for Valley Business Center in Denver, CO submarket

 

Melissa Rose

DENVER, CO – JLL Capital Markets has arranged $21 million in acquisition financing for Valley Business Center, a 100% leased, 204,981-square-foot light industrial property in Denver, Colorado.

 

JLL worked on behalf of the borrower, Adler Real Estate Partners, in securing the fixed-rate insurance company loan. 

 

Located at 700 W Mississippi Avenue, just 10 minutes from Downtown Denver and 35 minutes from Denver International Airport, Valley Business Center is a strategic last-mile location in the Denver South Central submarket, the most highly sought-after submarket in Metro Denver.

 

Rob Bova

The five-building property has an average suite size of 10,249 square feet, attracting a diverse tenant pool by offering suite configurations and various loading capabilities – with dock high loading to almost every unit – plus ample power and 16’ – 20’ clear heights throughout the five buildings. Additionally, Valley Business Center has averaged 98% occupancy over the last 10 years, and today’s tenants are averaging 13.3-years of tenancy.

Valley Business Center

                                                         

 

The JLL Capital Markets Debt Advisory team was led by Senior Managing Director Melissa Rose and Director Rob Bova.

 

"We are thrilled to have facilitated this financing for Valley Business Center, further solidifying its position as a premier destination for light industrial development in Denver," said Rose. "This transaction underscores the strength of the market and the confidence of investors in the long-term viability of this asset."

 

For more news, videos and research resources, please visit JLL’s newsroom.

 

CONTACT:

 Grace Lewis

PR, Capital Markets

JLL

2401 Cedar Springs Rd.

Dallas, Texas 75201

M +1 903 520 3478

JLL.com