REBusinessOnline

CapitalSouth Provides $41.1M Construction Loan for Multifamily Property in Las Vegas

LAS VEGAS — CapitalSouth, a division of Pacific Western Bank, has provided a $41.1 million construction loan for the development of Tuscan Highlands, a multifamily property located in Las Vegas’ Southern Highlands submarket. The property will be situated on 15.2 acres at the southwest corner of St. Rose Parkway and Interstate 15. The 26-building community will feature 304 market-rate apartments units in a mix of one- and two-bedroom studio flats, medium flats, large flats, carriages, …

Ellwood Corp. Sells 68-Unit Apartment Building in Denver for $16.5M

DENVER — Ellwood Corp. has completed the sale of Brittany House Apartments, a multifamily property located at 77 S. Ogden St. in Denver’s West Washington Park district. Denver-based RedPeak acquired the property for $16.5 million, or $242,647 per unit. The five-story building features 68 units in a mix of studio, one- and two-bedroom units. Bill Morkes and Craig Stack of Colliers International represented the seller in the

Locker Realty Brokers $8.4M Acquisition of Chick-fil-A Property in Santa Monica, California

SANTA MONICA, CALIF. — Locker Realty Corp. has arranged the acquisition of a restaurant property, located on Lincoln Boulevard in Santa Monica. An undisclosed buyer acquired the asset for $8.4 million. Chick-fil-A occupies the 1,560-square-foot restaurant and drive-thru building, which is located on 12,314 square feet of land, on a net-leased basis. Paul Locker and Kristine Locker of Locker Realty Corp. represented the buyer, while Pat Wade and Alex Kozakov of CBRE represented the …

ARCO/Murray Design Build Completes 101,000 SF Self-Storage Facility in New Mexico

SANTA FE, N.M. — ARCO/Murray Design Build has completed the construction of Rodeo Park Self Storage, a self-storage facility in Santa Fe, for Titan Development. Extra Space Storage will operate the two-story, 101,000-square-foot facility, which is fully climate controlled. ARCO/Murray provided a complete design-build solution for the project, including architectural and engineering design, permitting and construction. Logan Castille of ARCO/Murray served as project manager, and Matt …

SVN Commercial Negotiates $3.9M Sale of Office Building in Reno, Nevada

RENO, NEV. — SVN Commercial Associates has arranged the sale of an office building, located at 9785 Gateway Drive in Reno. An undisclosed buyer acquired the property for $3.9 million. The 18,964-square-foot property is occupied by a single tenant. Casey Prostinak of SVN Commercial handled the

Sunset Development Opens 300,000 SF Shopping Center in San Ramon, California

SAN RAMON, CALIF. — Sunset Development Co. has opened City Center Bishop Ranch, a shopping, dining, entertainment and community development located in San Ramon’s Bishop Ranch area. Designed by Renzo Piano Building Workshop and BAR Architects, the 300,000-square-foot regional shopping center will feature 70 stores and restaurants at full occupancy. THE LOT, a 10-screen cinema and dining destination, and Equinox San Ramon, a whole-body personal fitness, training and yoga center, anchor …

Phillips Edison Acquires 80,259 SF Value-Add Retail Center in Southern California

MURRIETA, CALIF. — Phillips Edison & Co. has purchased Sierra Vista Plaza, a value-add retail center located at 25030-25100 Hancock St. in Murrieta, for an undisclosed price. Stater Bros., CVS/pharmacy, Chuck E. Cheese, Valley Veterinary Clinic, The UPS Store, Pizza Hut and Jack in the Box are tenants at the 80,259-square-foot property. Bryan Ley, Gleb Lvovich, Justin Kundrak and Tony Ensbury of HFF represented the undisclosed seller in the

MedProperties Breaks Ground on 56,000 SF Medical Office Building in Gilbert, Arizona

GILBERT, ARIZ. — Chicago-based MedProperties Group has broken ground on Mercy Medical Commons II, a medical office building located on Mercy Road adjacent to the main entrance of Dignity Mercy Gilbert Medical Center in Gilbert. Designed by Ware Malcomb, the three-story, 56,000-square-foot building will feature a 55-foot high-curved fin wall with integrated steel shade canopies, while the western curved façade will open to parking and a porte-cochere arrival area. The CORE Institute …

IREA Brokers $9.7M Sale of Retail Property in Northridge, California Leased to Petco

NORTHRIDGE, CALIF. — Investment Real Estate Associates (IREA) has negotiated the sale of a retail property located at 8800 Tampa Ave. in Northridge. A private individual acquired the property for $9.7 million as part of a 1031 exchange. Petco has occupied the 14,280-square-foot property, which is an outparcel to Costco and adjacent to In-N-Out Burger, since March 2004. Clark Everitt, William Everitt and Jonathan Krikorian of IREA represented the buyer in the deal. The name of the seller …

Surfside Industries Sells Six-Building Industrial Property in Port Hueneme, California for $5.1M

PORT HUENEME, CALIF. — Surfside Industries LLC has completed the sale of a six-building industrial asset located at 250-278 S. Surfside Drive in Port Hueneme. James Mesa acquired the investment property for $5.1 million. Currently operated as a multi-tenant industrial and RV park, the property is M-1 zoned for manufacturing, processing and distribution use. Chris Roth and Rusty Williams of Lee & Associates Commercial Real Estate Services – North San Diego County, along with John Ochoa …

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