The 44-room Days Inn by Wyndham near Disneyland in Anaheim has sold for $8.6 million, according to The Mogharebi Group.
Located at 1030 W. Ball Road on the northwest corner of Disneyland Drive, the hotel has not been renovated since it was built in 1983. Amenities include complimentary breakfast and WiFi, on-site parking, and coin-operated washrooms.
TMG did not identify the buyer, merely describing the investor as an Orange County-based real estate syndication group.
“With the much-needed improvements, owners can leverage the hotel’s prime location to take advantage of the tremendous benefits that are in place, especially given the Disneyland expansion and improvement plans that Disney announced at D23 last week,” Otto said Ozen, an executive vice president at TMG.
Renovated Westminster home sells for $6 million
According to Cushman & Wakefield, a renovated 60-year-old apartment building in Westminster sold for $5.96 million, or $298,000 per unit.
Buyer and seller were not identified by Cushman Brokers. However, the buyer was described as a “resident and investor” in Orange County who completed a 1031 barter.
Mark Bridge of Cushman & Wakefield’s Multifamily Advisory Group in Orange County represented both sides in the deal.
“This property presented a great opportunity for an investor to acquire a quality apartment with high occupancy and in a great, convenient rental location,” said Bridge.
Located at 8361 15th St., the property features eight one-bedroom, one-bathroom units and 12 two-bedroom, one-bathroom units. Built in 1963, the property offers an on-site laundry room, renovated courtyard and 30 assigned parking spaces.
Renovations included a new roof, new asphalt, and new landscaping.
Irvine R&D building brings in $11 million
A two-story research and development building at 6 Thomas near Irvine Spectrum was sold to MP Biomedicals for $11 million, according to NAI Capital Commercial.
At the time of sale, the building was vacant on 1.5 hectares. According to NAI brokers, the new owner plans to occupy part of the building and lease the remaining space to life science/biomedical tenants.
The seller, Alexandria Real Estate Equities, was represented by CBRE.
Second drift hotel to debut in Santa Barbara
Irvine-based TMC Hospitality is opening a second boutique hotel under the Drift brand in downtown Santa Barbara this fall.
The 45-room hotel in a building from the 1920s was redesigned in a Mediterranean design in collaboration with the architecture firm ANCAPA.
The Drift concept, TMC said when launching its first concept, is aimed at “social group travelers who want to get off the beaten path.” According to the company, the hotels will feature minimalist furnishings using locally sourced materials.
Night at the Fights is celebrating its 30th anniversary
Want to see how commercial real estate executives measure up — with real gloves on?
NAIOP SoCal will host the 30th Night at the Fights on October 6th at the OC Fair & Event Center in the Hangar Building in Costa Mesa.
The annual black tie will feature two professional boxing matches and two bouts between local Southern California real estate professionals.
The local boxers who will dare to step into the ring are FCL Builders’ Charles Banks versus Kidder Mathews’ Stephen Madigan and Berkadia’s Jack Carder versus Pacific Southwest Realty Services’ David Sarnoff.
This year, the event celebrates a Star Wars theme throughout the night, including the main event, a dinner and after-party complete with casino, music, cigar lounge, cocktails and industry networking.
For tickets and event information, visit naiopsocal.org/night-at-the-fights-2
people in real estate
Leo Goldschwartz joined Coldwell Banker Realty’s Newport Beach office. In 2017, Goldschwartz was a star of the Bravo TV show Real Estate Wars while working at Compass.
Real estate transactions, leases and new projects, industry hiring, new ventures, and upcoming events are compiled from news releases by contributing author Karen Levin. Email articles and high-resolution photos to Business Editor Samantha Gowen at [email protected] Please allow at least a week for publication. All elements are editable for clarity and length.