REBusinessOnline

NKF Arranges 85,653 SF Lease with Vallarta Supermarkets in San Fernando Valley

CANOGA PARK, CALIF. — Newmark Knight Frank (NKF) has arranged an 85,653-square-foot lease with Vallarta Supermarkets at a shopping center in Canoga Park. The grocer will backfill the space formerly occupied by Vons. Mark Baziak and Geoff Foley of NKF arranged the 20-year lease on behalf of the landlord, Auburndale Properties. Springstead Associates represented Vallarta. The grocer is expected to move into the 150,000-square-foot center later this year. Additional tenants include T-Mobile, …

Lee & Associates Arranges $21.9M Sale of Shopping Center in Glendale

GLENDALE, ARIZ. — Lee & Associates has arranged the $21.9 million sale of Talavi Towne Center, a 118,377-square-foot shopping center in Glendale. Jay Fincham and Patrick Dempsey of Lee & Associates arranged the transaction on behalf of the seller, Kimco Towne Center LLC, and the buyer, Talavi Bell LLC. Talavi Towne Center is home to tenants such as Wal-Mart, MOR Furniture, Dollar Tree, Leslie’s Pool Mart and Cricket

L M Construction Co. Breaks Ground on 119,200 SF Industrial Building in Boise

BOISE — L M Construction Co. has broken ground on a 119,200-square-foot industrial building in Boise. The facility will be located at 8485 Federal Way. The cross-dock, multi-tenant building is a design-build project for Brass Cap Development. The project is currently 50 percent pre-leased. The future tenant, Teffco, is currently headquartered in nearby Nampa. Teff is an ancient grain and the staple of Ethiopian and Eritrean diets. Teffco hires local Idaho farmers to raise Teff for …

Un[CO]mmon Launches Coworking Location in Oakland

OAKLAND, CALIF. — Un[CO]mmon, a coworking space company, has launched a new location in Oakland. The flexible office solution for high-growth companies is located at 1750 Broadway. Un[CO]mmon was created by Rubicon in 2017. It is aimed at teams and companies wanting the flexibility of a coworking experience with the branding, privacy and scalability of a more traditional office environment. The 10,000-square-foot, flexible, full-floor space has direct access to the 19th Street BART …

Restoration Hardware Opens 46,000 SF Home Furnishings Gallery in Portland’s Alphabet District

PORTLAND, ORE. — Restoration Hardware (RH) has opened a 46,000-square-foot location in Portland’s historic Alphabet District. The four-story building features installations of home furnishings in a galley setting, with entire floors dedicated to RH Interiors, RH Modern and RH Outdoor. RH Portland also includes professional design services in a studio environment. Design elements include a 40-foot skylight, 21 crystal helix chandeliers and a landscaped rooftop park with panoramic views of …

NorthMarq Capital Debuts new Multifamily Investment Sales Business in Phoenix

PHOENIX — NorthMarq Capital has debuted the new NorthMarq Multifamily business, which debuted with a 10-person multifamily investment sales team headquartered in Phoenix. This new team marks the beginning of NorthMarq Capital’s selective geographic expansion of multifamily and manufactured housing investment sales services across the country The team was formerly known as the HSK team and led by Trevor Koskovich, who will now serve as president of NorthMarq Multifamily. Koskovich will …

Lincoln Property Co. Breaks Ground on 352,000 SF Office Building in Tempe

TEMPE, ARIZ. — Lincoln Property Co. has broken ground on the second building at Grand at Papago Park Center in Tempe. The 352,000-square-foot building will be located at 1027 W. Roosevelt Way. The Grand Building Two is one of Arizona’s largest office buildings to break ground as a purely speculative endeavor, according to Lincoln. It is scheduled for completion in the second quarter of 2019. The building will be the second of eight Class A office buildings scheduled to be built by …

George Smith Partners Secures $45M in Financing for San Francisco Proper Hotel

SAN FRANCISCO — George Smith Partners has secured $45 million in bridge refinancing for the 131-room San Francisco Proper Hotel in the city’s Mid-Market neighborhood. The flatiron building is located at 1100 Market St. at the triangle of McAllister, Market and Seventh streets. The new bridge loan will allow the borrower, Kor Group, to focus on its operations and further establish the property as a luxury lifestyle hotel in San Francisco. The funds will replace an existing construction …

BKM Acquires 122,253 SF Industrial Park in Sacramento for $10.1M

SACRAMENTO, CALIF. — BKM Capital Partners has acquired Expo Centre, a 122,253-square-foot, multi-tenant industrial business park in downtown Sacramento for $10.1 million. The seven-building park is located alongside the SR-160 at 1761 to 1791 Tribute Road. Expo Centre is currently 81 percent leased with in-place rental rates that are about 18 percent below market value. BKM plans to implement a series of capital improvements to reposition the property. BKM acquired the property from a …

Cohen Financial Arranges $11.9M Refinancing for Two Retail Centers in Vancouver, Washington

VANCOUVER, WASH. — Cohen Financial, a division of SunTrust Bank, has arranged two loans totaling $11.9 million for the refinancing of two retail centers located in Vancouver. Peter Norrie of Cohen Financial arranged a $4.7 million loan for Salmon Creek Center and a $7.2 million loan for 164th Plaza through Alaska USA Federal Credit Union. The name of the borrower was not disclosed. The five-year loans feature 25-year amortization schedules and an option to extend for another five

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