[Sign Up Now] to Receive Our FREE Daily SCVTV-SCVNews Digest by E-Mail

Santa Clarita CA
Partly cloudy
Partly cloudy
Today in
S.C.V. History
March 17
1927 - Newhall telephone exchange, est. 1900, now serves 100 phones [story]

CBRE Group Inc. announced the sale of two Class A office buildings within the Tourney Place five-building development in Santa Clarita on Wednesday.

A 20,731-square-foot building located at 27433 Tourney Road, was sold to Pacific Fiduciary Real Estate Investments LLC for an undisclosed price, representing one of the highest prices per square foot in the Santa Clarita Valley.

The buyer will occupy a large portion of the property for its corporate headquarters.

Another 20,731-square-foot building located on 27413 Tourney Road, was sold to Tourney Road Building LLC, and will be the corporate headquarters for Gothic Landscaping.

cbre102215CBRE Executive Vice President Craig Peters, along with Richard Ramirez and Robert Valenziano represented each of the sellers in these transactions.

“These transactions are a great example of local business owners taking advantage of today’s extremely attractive interest rate environment, and the continuously improving office market conditions in Santa Clarita,” said Peters. “These buyers were not only able to secure a long-term home for their companies at a much lower occupancy cost compared to leasing office space, but also invest in highly sought-after Class A office assets.”

SAPRA I, LLC, a partnership between JSB Development and McCombs Inc. is the original developer of the five-building office complex on Tourney Road. They are moving forward with plans to develop a 50,000-square foot, three story office building on the last remaining land parcel in the project, representing one of the very few new development projects currently available throughout the valley. JSB Development and McCombs Inc were also partners in the building sold to Pacific Fiduciary Real Estate Investments.

“The demand for office space in the Santa Clarita Valley continues to grow stronger, and properties such as the Tourney Road buildings are becoming more highly sought after as vacancy rates in the local market have now plummeted to sub-6 percent,” said Jim Backer, President of JSB Development.

“We are very bullish on this office market and were very pleased to structure such an attractive transaction for our investors,” said Greg McCombs, President of McCombs Inc. “Demand for high quality office space continues to be at a premium and we look forward to bringing the next phase of the project to market in the near future.”


About CBRE Group, Inc.

CBRE Group Inc., a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.

Comment On This Story
COMMENT POLICY: We welcome comments from individuals and businesses. All comments are moderated. Comments are subject to rejection if they are vulgar, combative, or in poor taste.
REAL NAMES ONLY: All posters must use their real individual or business name. This applies equally to Twitter account holders who use a nickname.


You can be the first one to leave a comment.

Leave a Comment

Latest Additions to SCVNews.com
1927 - Newhall telephone exchange, est. 1900, now serves 100 phones [story]
The 2018 SXSW Film Festival, which runs from March 9 to 18, announced its Jury and Special Award winners on Tuesday with CalArts alumni taking home some of the top prizes.
CalArtians Earn Juried Prizes at 2018 SXSW Film Festival
Santa Clarita Valley Boys & Girls Club "Youth of the Year" Lluvia Partida was among the young people vying for regional "Youth of the Year" honors at the annual County Alliance award ceremony Tuesday night.
County Boys and Girls Club Alliance Names 2 ‘Youth of the Year’ Honorees
Newhall School District administrators will host an information/enrollment meeting for families that may be affected by the possible closure of the Einstein Academy at Stevenson Ranch Elementary School on Wednesday, March 21, starting at 6:30 p.m.
March 21: Newhall School District Info Session for Einstein Families
The SCV Chamber of Commerce-sponsored NextSCV group for young business professionals ages 21-40 will tour Scorpion's new Valencia headquarters on Wednesday, March 28 starting at 5:30 p.m.
March 28: Young SCV Professionals to Tour Scorpion HQ
The Bureau of Land Management has made available for public review a draft Supplemental Environmental Impact Statement and draft Land Use Plan Amendment that aim to manage dispersed recreation visitation over an extensive area in the Mojave Desert.
BLM Issues EIR for Mohave Desert Use, Seeks Public Comment
The TMU Mustangs men's basketball team lost to Peru State College 106-104 in overtime at the NAIA Division 1 National Championship tournament opener in Kansas City Wednesday night.
TMU Men’s Hoops Team Upset by Peru State in First Round
The Master's University doubled up the University of Antelope Valley 8-4 on a cloudy and cold Wednesday afternoon in Placerita Canyon.
Mustangs Stop UAV Pioneers in Their Tracks 8-4
After standing toe-to-toe with the perennial powerhouse Freed Hardeman Lions, the Mustangs didn't have enough left in the fourth quarter and fell 71-51 in the NAIA Women's National Tournament Wednesday.
Mustangs Fall to Freed Hardeman at Nationals
College of the Canyons starter Joy Veloz struck out nine batters and the Cougars pounded out 10 hits to defeat conference rival Antelope Valley College 7-2 at Whitten Field on Thursday.
COC Softball Team Claims 7-2 Victory Over Antelope Valley
The Los Angeles County Metropolitan Transportation Authority has implemented a one-year pilot program to assist Metro-certified Small Business Enterprise, Disadvantaged Business Enterprise and Disabled Veteran Business Enterprise firms secure sufficient bonding to work on Metro construction projects.
LA Metro Launches Program for Small, Disadvantaged, Veteran-Owned Firms
The Golden Oak Adult School will host its second annual Open House at the school on Tuesday, March 27 from 4 p.m. to 7 p.m.
March 27: Golden Oak Adult School 2nd Annual Open House
The Los Angeles County Board of Supervisors on Tuesday approved a $2.7 million payment to the family of a man fatally shot by a sheriff's deputy in Santa Clarita on January 14, 2016.
Supes Settle Suit for Wrongful Death in Santa Clarita for $2.7 Million
The next meeting of the Los Angeles County Board of Supervisors is set for Tuesday, March 20, starting at 9:30 a.m.
March 20: LA County Board of Supervisors Meeting
Local developer Pardee Homes will host a grand opening paw-ty for the new Dogwood Park dog park in the Aliento neighborhood of Canyon Country on Saturday, March 17 from 9 a.m. to 11 a.m.
March 17: Dogwood Park Grand Opening Paw-ty in Canyon Country
The nonprofit Los Angeles County Animal Care Foundation will host a "Wild for Animals" benefit at Centre Pointe Plaza in Santa Clarita to raise funds for the Castaic Animal Care Center on Saturday, May 19 starting at 6 p.m.
May 19: ‘Wild for Animals’ Benefit for Castaic Shelter in Centre Pointe
2003 - Life-size sculpture honoring heroes of St. Francis Dam disaster unveiled in Santa Paula [video]
Campus Compact — a Boston based non-profit organization working to advance the public purposes of higher education — has announced the 268 students who will make up the 2018 cohort of Newman Civic Fellows. Among them is California State University, Northridge graduate student Lilia Gonzalez.
CSUN Grad Student Among 268 Awarded with Newman Civic Fellows
Academy Award-nominee, Angela Bassett will join Kathleen Battle as a guest narrator in Battle’s program Underground Railroad: A Spiritual Journey accompanied by pianist Joel Martin and the LA-based choir, The Albert McNeil Jubilee Singers at the Younes and Soraya Nazarian Center for the Performing Arts (The Soraya) on Thursday, March 29 at 8:00pm.
March 29: Angela Bassett Joins Kathleen Battle at The Soraya
The next Canyon Country Advisory Committee meeting will be held Wednesday, March 21, from 7:00 p.m. - 9:00 p.m., at the Mint Canyon Moose Lodge Family Center Banquet Room, located at 18000 Sierra Highway, Canyon Country, 91351.
March 21: Canyon Country Advisory Committee Meeting
There are a few seats left in ARTree's Junior Arts Sampler (ages 5 - 7) and our Arts Sampler (ages 8 - 12) classes which start next week.
Seats Still Available for ARTree’s Arts Sampler
Confronted with a wide range of complex challenges to enrolling residents in need of food assistance in the CalFresh Program, the Department of Public Social Services (DPSS) has launched a comprehensive community outreach and education campaign to address the increasing threat of food insecurity in the most populated and culturally-diverse county in the nation.
CalFresh Launches Community Outreach to Reduce Food Insecurity
After clawing its way back to within a pair a runs, College of the Canyons couldn't get any closer, instead dropping a 17-9 decision to conference rival Citrus College at Cougar Field on Wednesday.
Canyons’ 9 Runs Not Enough to Hold Off Citrus College
Thanks to Senate Bill 85 the California State University (CSU) announced the distribution of more than $2 million across its 23 universities to support student success and the CSU Basic Needs Initiative.
CSU to Distribute $2.5 Million in Effort to Fight Student Hunger
The Santa Clarita City Council recognized the Salvation Army’s Santa Clarita Valley Corps at the Council’s meeting Tuesday night.
Salvation Army’s SCV Corps Lauded by City Council
The Santa Clarita City Council invites the public to attend a demolition event at the site of the future Canyon Country Community Center, located on the corner of Soledad Canyon Road and Sierra Highway, on Tuesday, March 20 at 10:30 a.m.
March 20: Demolition Event at New Canyon Country Community Center Site
Washington, DC - On Thursday, Rep. Steve Knight (R-CA) introduced H.R. 5307, The School Training, Equipment, and Protection (STEP) Act.
Knight Legislation to Implement Specific School Safety Measures
Recognizing California State University, Northridge’s strong commitment to regional economic development, CSUN has been named an Innovation and Economic Prosperity (IEP) University by the Association of Public and Land-grant Universities (APLU).
CSUN Recognized as Innovation, Economic Prosperity University
Max Maitland hit a tie-breaking, two-run homer and the bullpen combined for over five innings of one-run ball as The Master's University doubled up the University of Antelope Valley 8-4 on a cloudy and cold Wednesday afternoon in Placerita Canyon.
Mustangs Improve to 17-10 with Win Against Antelope Valley
MORENO VALLEY, Calif. - Effective immediately, all Bureau of Land Management-managed public lands within the California Desert District shall be under Stage I restrictions and year-round fire restrictions. Recreational shooting restrictions applicable to the California Desert District, issued on May 26, 2017, have been terminated as of March 13, 2018.
Bureau of Land Management Now Under Year-Round Fire Restrictions
KANSAS CITY, Mo. – Before Wednesday night's NAIA Division 1 National Championship tournament opener, Master's assistant coach Thomas Lowery and senior Lawrence Russell came to an understanding.
No. 1 Mustangs Knocked Out in First Round of NAIA Tourney
AlphaKidz International S.M.A.R.T. Academy is conducting a shoe drive fundraiser on March 19 to raise funds for their new school building.
March 19: AlphaKidz International Shoe Drive Fundraiser
The Santa Clarita community will once again show their support for a great non-profit, WiSH Education Foundation while sampling 44 chilis on Tuesday, March 20.
Tickets Still Available for 6th Annual Charity Chili Cook-Off
Princess Cruises announced a new culinary shore excursion program in collaboration with the number one food lifestyle brand, Bon Appétit, offering guests the opportunity to indulge in culinary experiences inspired by their surroundings while cruising to destinations around the globe.
Princess Cruises Partners With Bon Appétit
Valencia High School’s Jazz Choir Two N’ Four is ranked the best in the country.
Valencia High Choir Takes 1st Place in Monterey; Bests Schools Nationwide