In Anaheim: PacSun HQ sells for $44 million; hotel with waterpark opens

Courtesy/News Source: ocregister.com

The Anaheim headquarters of PacSun has been sold for $44 million to a family trust, according to the brokerage Newmark Knight Frank.

The 180,000-square-foot office building at 3450 East Miraloma Ave. is fully occupied by Pacific Sunwear of California.

The Anaheim headquarters of PacSun has been sold for $44 million to a family trust, according to the brokerage Newmark Knight Frank. The 180,000-square-foot office building at 3450 East Miraloma Ave. is fully occupied by Pacific Sunwear of California. The sellers were represented by Michael Hartel at Colliers International. (Photo courtesy of Newmark Knight Frank)

A luxury hotel with its own waterpark has opened in Anaheim. The 12-story, 352-room Cambria Hotel Anaheim Resort Area at 101 E Katella Ave. opened Dec. 12 and is just outside of the Disneyland complex. The hotel has a 30,000-square-foot waterpark, outdoor movie wall, fire pits and a putting green. (Photo courtesy of Cambria Hotel)

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A luxury hotel with its own waterpark has opened in Anaheim. The 12-story, 352-room Cambria Hotel Anaheim Resort Area at 101 E Katella Ave. opened Dec. 12 and is just outside of the Disneyland complex. The hotel has a 30,000-square-foot waterpark, outdoor movie wall, fire pits and a putting green. (Photo courtesy of Cambria Hotel)

A luxury hotel with its own waterpark has opened in Anaheim. The 12-story, 352-room Cambria Hotel Anaheim Resort Area at 101 E Katella Ave. opened Dec. 12 and is just outside of the Disneyland complex. The hotel has a 30,000-square-foot waterpark, outdoor movie wall, fire pits and a putting green. (Photo courtesy of Cambria Hotel)

A luxury hotel with its own waterpark has opened in Anaheim. The 12-story, 352-room Cambria Hotel Anaheim Resort Area at 101 E Katella Ave. opened Dec. 12 and is just outside of the Disneyland complex. The hotel has a 30,000-square-foot waterpark, outdoor movie wall, fire pits and a putting green. (Photo courtesy of Cambria Hotel)

A garden-style office property at 777 to 779 W. 19th Street in Costa Mesa has been sold for $3.575 million, according to Avison Young. The 11,316-square-foot on .73 acres is within an Opportunity Zone. The new ownership is looking to redevelop the property as a mixed-use project, Avison Young said. (Courtesy of Avison Young)

Chris Casey has been appointed principal at Avison Young in Irvine. He will focus on raising debt and join venture equity for office, industrial, retail, hotel and multifamily properties in the Western U.S. Casey, with some 30 years in commercial real estate, joins the firm from JLL where he was managing director in its Capital Markets Finance group.

NAIOP SoCal and the Center for Real Estate at UC Irvine’s Paul Merage School of Business have awarded the NAIOP SoCal-CRE Fellowship to Charlie Jackson, director of Land Acquisitions for Irvine-based California Pacific Homes. The fellowship will provide a $7,500 reward that Jackson will apply to his studies at UCI where he is pursuing a Fully Employed MBA and certificate in real estate.

Shaun Moothart has been promoted to senior vice president with CBRE’s Capital Markets’ Debt and Structure Finance team in Newport Beach. In this role, he will collaborate with real estate funds, banks, credit companies and investors. Moothart comes to the team with experience across the commercial property spectrum, including office, industrial, retail and multifamily.

The sellers were represented by Michael Hartel at Colliers International.

NKF’s Paul Jones, Kevin Shannon, Brandon White, Sean Fulp, Ryan Plummer, Mark Schuessler and Matt Berres represented the sellers, Hines and funds managed by Oaktree Capital Management.

The HQ was built in 2002 on not quite 8 acres for the retail clothing brand founded in Newport Beach in 1980.

Luxe hotel opens in Anaheim

A luxury hotel with its own waterpark has opened in Anaheim.

The 12-story, 352-room Cambria Hotel Anaheim Resort Area at 101 E Katella Ave. opened Dec. 12 and is just outside of the Disneyland complex.

The hotel has a 30,000-square-foot waterpark, outdoor movie wall, fire pits, putting green, spacious guestrooms and suites, and locally inspired food and beverage.

Opportunity knocks in CM

A garden-style office property at 777 to 779 W. 19th Street in Costa Mesa has been sold for $3.575 million, according to Avison Young.

The 11,316-square-foot on .73 acres is within an Opportunity Zone. The new ownership is looking to redevelop the property as a mixed-use project, Avison Young said.

Avison Young’s Peter Hauser, Matt Hauser and Masa Ito in the firm’s Irvine office represented the seller, 19thStreet LLC in Newport Beach. The 1031 exchange buyer was a Newport Beach-based private investor, who was represented by Steven Lambert of Nook Real Estate.

“The buyer plans to operate the office property while undergoing entitlements for a mixed-use development that would include a small commercial ground floor component and 16 to 24 residential units,” Hauser said in a statment.

The entitlement process for redevelopment should take 10 months, he said.

Located at 19th Street and Placentia Avenue, the site is within in a dense, infill location that is a short drive to retail, dining, and entertainment amenities, as well as Newport Beach, Pacific Coast Highway, and the 57 freeway.

The Opportunity Zone designation provides federal tax incentives for capital gains tax treatment. Owners must partake in substantial renovations to the existing property or a complete demolition to provide a new ground-up development.
San Bernardino retail parcel sold

A retail parcel in downtown San Bernardino with two major tenants has been sold to Costa Mesa-based investor Wood Investment Cos. for an undisclosed price.

The parcel, currently with Food 4 Less and Ross Dress For Less stores, is in the 500 block of West Second St.

In a statement, Wood Investment said it also plans to tear down a vacant building formerly occupied by Union Bank and build complementary retail sites.

The sellers were Canyon Developer LLC and 505 West Second LLC.
People in real estate

Shaun Moothart has been promoted to senior vice president with CBRE’s Capital Markets’ Debt and Structure Finance team in Newport Beach. In this role, he will collaborate with real estate funds, banks, credit companies and investors. Moothart comes to the team with experience across the commercial property spectrum, including office, industrial, retail and multifamily.

Chris Casey has been appointed principal at Avison Young in Irvine. He will focus on raising debt and join venture equity for office, industrial, retail, hotel and multifamily properties in the Western U.S. Casey, with some 30 years in commercial real estate, joins the firm from JLL where he was managing director in its Capital Markets Finance group.
Milestones

NAIOP SoCal, the local chapter of the trade organization for developers, owners and investors of commercial real estate, and the Center for Real Estate at UC Irvine’s Paul Merage School of Business have awarded the NAIOP SoCal-CRE Fellowship to Charlie Jackson, director of Land Acquisitions for Irvine-based California Pacific Homes. The fellowship will provide a $7,500 reward that Jackson will apply to his studies at UCI where he is pursuing a Fully Employed MBA and certificate in real estate.
Good works

Select Coldwell Banker offices in Orange and Riverside counties are accepting donations of new or almost-new shoes to aid a fund-raising drive for Soles4Souls.

The shoes will be donated to would-be entrepreneurs who sell them and other items to generate start-up cash for businesses.

Collections end Jan. 31. To locate a participating Coldwell Banker office go to bit.ly/3an1cHe.

Real estate transactions, leases and new projects, industry hires, new ventures and upcoming events are compiled from press releases by contributing writer Karen Levin. Submit items and high-resolution photos via email to Business Editor Samantha Gowen at sgowen@scng.com. Please allow at least a week for publication. All items are subject to editing for clarity and length.

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