REBusinessOnline

Rockefeller Group Sells 344,249 SF Industrial Building at Tri-City Industrial Complex in Inland Empire

IRVINE, CALIF. — Rockefeller Group has completed the sale of a newly constructed cross-dock industrial building located at 1445 S. Tippecanoe Ave. within the Tri-City Industrial Complex in Irvine. Nuveen Real Estate acquired the 344,249-square-foot facility for an undisclosed price. At the time of sale, the property was fully leased to Home Chef, a division of Kroger, and Protempo, a global third-party logistics provider. Jeff Chiate, Jeffrey Cole, Mike Adey, Ed Hernandez, Chuck Belden, …

KeyBank Provides $45.5M Construction Loan for Affordable Housing Project in Aurora, Colorado

AURORA, COLO. — KeyBank Community Development Lending and Investment (CDLI) and KeyBank Commercial Mortgage Group (CMG) have secured a $45.5 million construction loan for the development of Range View Apartments in Aurora. Portland, Ore.-based DBG Properties LLC is the borrower and developer. KeyBank’s CDLI team provided the construction loan and KeyBank’s CMG team provided a $35 million forward commitment through Fannie Mae. The transaction includes the first execution in Colorado of …

Cushman & Wakefield Negotiates Sale of 283-Unit Apartment Complex in Chandler, Arizona

CHANDLER, ARIZ. — Cushman & Wakefield has arranged the sale of Jefferson Chandler, a Class A apartment community in Chandler. Irving, Texas-based JPI sold the property to RPC Chandler Apartments LLC, an entity formed by Dallas-based Rosewood Property Co., for an undisclosed price. Located at 3950 W. Chandler Blvd., Jefferson Chandler features 283 units in a mix of studio, one-, two- and three-bedroom floorplans with the average size of 924 square feet. The units offer nine-foot …

Mentor Properties Sells Sonoma Sol Multifamily Community in Phoenix’s West Valley for $32.2M

PHOENIX — Mentor Properties has completed the sale of Sonoma Sol, a multifamily community located in Phoenix’s West Valley. A joint venture between an affiliate of The Roxborough Group and SB Real Estate Partners acquired the asset for $32.2 million, or $100,781 per unit. The buyer plans to rename the 320-unit property Cordova Apartments. Built in 1985, the community features a majority of two-bedroom units with full-size washers/dryers in each apartment. Community amenities include a …

Alston Construction Completes 213,000 SF Centennial Commerce Center in North Las Vegas

NORTH LAS VEGAS, NEV. — Alston Construction, as general contractor, has completed Centennial Commerce Center, located at 6405 E. Centennial Parkway in North Las Vegas. Situated on 10.4 acres, the facility features 213,000 square feet of speculative industrial space. Centennial Commerce Center features cross-dock industrial warehouse space, 32-foot clear heights, ESFR sprinklers, LED warehouse lighting and flexible office build-outs. Valued at $16 million, the property was designed with …

San Francisco Planning Commission Approves 2.3 MSF Flower Mart Redevelopment Project

SAN FRANCISCO — The San Francisco Planning Commission has unanimously approved plans to redevelop the historic Flower Mart in the city’s South of Market (SoMa) district as a 2.3 million-square-foot mixed-use property. Kilroy Realty Corp. (NYSE: KRC) is leading the development, which will preserve and update the 115,000-square-foot Flower Mart, while also adding 2.1 million square feet of creative office space, a 100,000-square-foot retail market hall and one acre of public open …

Highridge Costa to Break Ground on Multifamily Phase of Kulana Hale Project in Hawaii

KAPOLEI, HAWAII — Highridge Costa will hold a groundbreaking ceremony on Aug. 28 for the second phase of the $130 million Kulana Hale mixed-use affordable seniors housing and multifamily apartment project located at 1020 Wakea St. in Kapolei. Kulane Hale Phase II will feature a 13-story tower with 2,300 square feet of ground-floor retail space and 143 affordable apartments for low-income families. The second-phase tower will be built over a two-level concrete podium structure that will …

Pension Fund Advisors Acquires 685,588 SF Industrial Complex Near Los Angeles for $128.5M

LOS ALAMITOS, CALIF. — Alere, a pension fund advisor, has purchased Los Alamitos Corporate Center, an industrial complex located in Los Alamitos. Northwestern Mutual sold the asset for $128.5 million. Situated on 36.9 acres, the 17-building complex is located at 4332-4478 Cerritos Ave., 10541-10681 Calle Lee and 4392-4465 Corporate Center Drive. At the time of sale, the 685,588-square-foot asset was 98 percent leased to 82 tenants. The buildings range in size from 11,788 square feet to …

Cushman & Wakefield Brokers $14.3M Office Asset Sale in Metro Denver

HIGHLANDS RANCH, COLO. — Cushman & Wakefield has negotiated the sale of two office buildings located at 200 and 300 Plaza Drive within Highlands Ranch Business Park in Highlands Ranch, a southern suburb of Denver. A private partnership acquired the assets for $14.3 million, or $192 per square foot. Aaron Johnson and Jon Hendrickson of Cushman & Wakefield Denver’s Capital Markets Group facilitated the transaction. Combined the properties offer 74,778 square feet of multi-tenant …

Blueprint Arranges Sale of 103-Bed Skilled Nursing Facility in Tucson

TUCSON, ARIZ. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Santé of Tucson, a 103-bed short-term rehabilitation and transitional care facility in Tucson. The property was built in 2017, but struggled with occupancy and was placed into SEC receivership under the supervision of Thomas Seaman and Associates. Blueprint was brought on to market the property as a turnaround opportunity with a HUD assumption. A Chicago-based owner-operator that recently had success …

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