The 44-room Days Inn by Wyndham close to Disneyland in Anaheim has offered for $8.6 million, in line with The Mogharebi Group.
The lodge at 1030 W. Ball Highway on the northwest nook of Disneyland Drive has not been renovated because it was inbuilt 1983. Facilities embrace free breakfast and Wi-Fi, onsite parking and coin-operated laundry rooms.
TMG didn’t determine the customer, solely describing the investor as an Orange County-based actual property syndication group.
“With much-needed enhancements, possession will be capable of leverage the lodge’s prime location to grab the large upside that exists, particularly given the growth and enchancment plans for Disneyland introduced by Disney at D23 final week,” stated Otto Ozen, an government vp at TMG.
Renovated Westminster condominium constructing sells for $6 million
An up to date, 60-year-old condominium constructing in Westminster has offered for $5.96 million, or $298,000 per unit, in line with Cushman & Wakefield.
The customer and vendor weren’t recognized by Cushman brokers. The customer, nevertheless, was described as a “native resident and investor” in Orange County who executed a 1031 trade.
Mark Bridge at Cushman & Wakefield’s Multifamily Advisory Group in Orange County repped each side within the deal.
“This asset offered an investor an awesome alternative to amass a high quality condominium asset with sturdy occupancy and in an awesome, handy rental location,” Bridge stated.
The property at 8361 fifteenth St. has eight one-bedroom, one-bathroom items and 12 two-bedroom, one-bathroom items. Inbuilt 1963, the constructing affords an on-site laundry room, up to date courtyard and 30 assigned parking areas.
Renovations included a brand new roof, new asphalt and new landscaping.
R&D constructing in Irvine fetches $11 million
A two-story analysis and growth constructing at 6 Thomas close to Irvine Spectrum has offered for $11 million to MP Biomedicals, in line with NAI Capital Business.
On the time of the sale, the constructing on 1.5 acres was vacant. The brand new proprietor plans to occupy a portion of the constructing and lease out the remaining house to tenants within the life science/biomedical business, in line with NAI brokers.
The vendor, Alexandria Actual Property Equities, was represented by CBRE.
Second Drift lodge to debut in Santa Barbara
Irvine-based TMC Hospitality is opening a second boutique lodge beneath the Drift model this fall in downtown Santa Barbara.
The 45-room lodge in a Twenties constructing was restyled with a Mediterranean design in partnership with the structure agency ANACAPA.
The Drift idea, TMC said when its first concept debuted, is geared toward “social group vacationers seeking to get off the crushed path.” The resorts will characteristic minimalistic decor utilizing regionally sourced supplies, in line with the agency.
Evening on the Fights celebrates 30 years
Need to see business actual property executives duke it out — with precise gloves on?
NAIOP SoCal will host the thirtieth Evening on the Fights on Oct. 6 on the OC Truthful & Occasion Heart, Hangar Constructing in Costa Mesa.
The annual black-tie gala will characteristic two skilled boxing matches and two bouts between native Southern California actual property business professionals.
The native boxers who will dare to step into the ring are Charles Banks of FCL Builders vs. Stephen Madigan of Kidder Mathews, and Jack Carder of Berkadia vs. David Sarnoff of Pacific Southwest Realty Companies.
This 12 months, the occasion celebrates a Star Wars theme by the evening, together with the principle occasion, a sit-down dinner, and an after-party with a on line casino, music, cigar lounge, cocktails and business networking.
Tickets and occasion data will be discovered at naiopsocal.org/night-at-the-fights-2
Folks in actual property
Leo Goldschwartz joined the Newport Seashore workplace of Coldwell Banker Realty. In 2017, Goldschwartz was a star of Bravo TV’s “Actual Property Wars” present whereas he labored at Compass.
Actual property transactions, leases and new tasks, business hires, new ventures and upcoming occasions are compiled from press releases by contributing author Karen Levin. Submit objects and high-resolution photographs through e-mail to Enterprise Editor Samantha Gowen at [email protected]. Please permit at the very least per week for publication. All objects are topic to enhancing for readability and size.