REBusinessOnline

Atria, Related Cos., Welltower Buy Former TV Studio in San Francisco for Seniors Housing Conversion

SAN FRANCISCO — A joint venture between Related Cos. and Atria Senior Living, along with funding support from Welltower, has acquired the former KRON-TV headquarters in San Francisco, with plans to convert the property to seniors housing. Onyx Partners sold the property for an undisclosed price. Located one block from the new Sutter California Pacific Van Ness Medical Center and along the Van Ness Bus Rapid Transit (BRT) line now under construction, the community will be at the center of …

Dermody Properties Breaks Ground on 251,800 SF Distribution Center in North Las Vegas

NORTH LAS VEGAS, NEV. — Dermody Properties has broken ground on LogistiCenter at Speedway, a distribution facility located at 6565 Nascar St. in North Las Vegas. Situated on 14 acres, the 251,800-square-foot building will feature 32-foot clear heights, 52 dock doors, eight grade-level doors and 182 car parking spaces. The building is currently available for pre-leasing and is divisible to 24,300 square feet. Garrett Toft and Sean Zaher of CBRE Las Vegas is representing the property. United …

Cushman & Wakefield Arranges $6.9M Sale of Two Walgreens-Occupied Assets in Metro Phoenix

PHOENIX AND SURPRISE, ARIZ. — Cushman & Wakefield has brokered the sales of two retail properties, located at 1840 W. Southern Ave. in Phoenix and 14285 W. Grand Ave. in Surprise. The properties were controlled by Grand Village CFI of Telluride, Colo. The two single-tenant properties, totaling 29,300 square feet, were 100 percent occupied by Walgreens at the time of sale. Rolling Hills Estates, Calif.-based Cove Capital acquired the 14,560-square-foot property in Phoenix for $4.6 …

Norris & Stevens Brokers Sale of 44-Unit Springhaven Apartments in Oregon for $6.7M

WOODBURN, ORE. — Portland-based Norris & Stevens has arranged the sale of Springhaven Apartments, a duplex and townhome project in Woodburn. An investment group led by Portland-based Russell Hosner LLC acquired the asset for $6.7 million as part of a 1031 tax-deferred exchange. The sellers were The James A. Halter Revocable Living Trust and David L. & Gaylene M. Lund. Located at 1108-1196 Park Circle and 1625-1667 Park Ave., the property consists of 19 buildings on 45 separate tax …

Quantum Commercial Group Negotiates $1.5M Sale of Industrial Building in Colorado Springs

COLORADO SPRINGS, COLO. — Quantum Commercial Group has arranged the sale of an industrial property, located at 2028 Aerotech Drive in Colorado Springs. Aerotech LLC sold the building to KGB LLC for $1.5 million. The property features 15,249 square feet of industrial space. Mary Francis Cowan of Quantum Commercial Group represented the seller, while Mike Helwege and Parker Curry of Core Commercial represented the buyer in the

Unico Properties Acquires 160,164 SF Historic Office Building on Seattle’s Waterfront

SEATTLE — Unico Properties, a subsidiary of Unico Investment Group, has acquired the Colman Building on Seattle’s waterfront from Goodman Real Estate for an undisclosed price. With this purchase, Unico’s presence on the waterfront now exceeds 1 million square feet. The six-story Colman Building features 160,164 square feet of office space with ground-level retail encircling the entire property. At the time of sale, the property was 88 percent occupied. The historic building was …

NXT Capital Closes $21M Acquisition Loan for 174-Unit Apartment Community in Phoenix

PHOENIX — NXT Capital has closed a $21 million loan to finance the acquisition and renovation of Enclave at Paradise Valley, a Class B apartment community in Phoenix. Located 15 miles north of downtown Phoenix, Enclave at Paradise Valley features 174 apartments, a fitness center, clubhouse, business center, barbecue area with picnic tables, pool, hot tub and covered parking. Mark Schulder of BlueGate Partners’ New York City office placed the loan with NXT

Armstrong Capital Buys Arvada Connection Shopping Center in Metro Denver for $17.5M

ARVADA, COLO. — Denver-based Armstrong Capital Development (ACD) has acquired Arvada Connection, a shopping center in Arvada, a suburb of Denver. Walton Street Capital sold the property for $17.5 million. Located at 5220 Wadsworth Blvd., Arvada Connection features 56,000 square feet of retail space. At the time of sale, the asset was 95 percent leased to a variety of tenants, including Chick-fil-A, Chase Bank, Taco Bell, IHOP and Sherwin Williams. ACD plans to refresh the center with …

Calavo Growers Sells Industrial Property in Southern California for $7.1M

TEMECULA, CALIF. — Calavo Growers, an international farm products company known for its distribution of avocados, has completed the sale of an industrial property located at 28410 Vincent Moraga Drive in Temecula. Stos Partners acquired the asset for $7.1 million. Calavo Growers has occupied the 64,678-square-foot industrial property since 1985. The building features an open warehouse, refrigerated cooler space, large yard space, excess land, dock loading, heavy power and 125 parking …

Compass Commercial Negotiates $4.2M Sale of Jot’s Resort Hotel in Gold Beach, Oregon

GOLD BEACH, ORE. — Compass Commercial Real Estate Services has arranged the $4.2 million sale of Jot’s Resort, a hotel located at 94360 Wedderburn Loop in Gold Beach. The names of the seller and buyer were not released. Situated on 7.3 acres at the mouth of the Rogue River, the resort features 102 one-bedroom/one-bath guestrooms, a marina, pool, gift and tackle shop, and fitness center, as well as Rod ‘n Reel Restaurant & Bar, a fully equipped restaurant. Dan Kemp of Compass …

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