Western

Creation Breaks Ground on 700,000 SF Avondale Tech Center in Arizona

by Amy Works August 20, 2026

AVONDALE, ARIZ. — Local developer Creation, in partnership with a real estate fund advised by Crow Holdings Capital, has broken ground on Avondale Tech Center, a 700,000-square-foot Class A industrial campus on the western outskirts of Phoenix. LGE Design Build is serving as both architect and general contractor for the project, which is slated for completion in third-quarter 2027. Situated on 38 acres on the northwest corner of 117th Avenue Corporate Drive, Avondale Tech Center will feature three buildings ranging in size from 212,184 to 254,264 square feet. The buildings will offer 36-foot clear heights, seven-inch unreinforced slab floors, four EV chargers with eight charging stalls per building and fully gated entry. Riley Gilbert, John Lydon and Kelly Royle of JLL are handling leasing efforts for the development.

August 20, 2026

Acquisitions California Retail Western

Poole Properties Divests of Multi-Tenant Retail Property in Corona del Mar, California for $13.7M

by Amy Works August 20, 2026

CORONA DEL MAR, CALIF. — Poole Properties (formerly John Poole Radio Properties) has divested of a retail property at located at 2515 E. Coast Highway in Corona del Mar, part of the Newport Beach metro area. An entity doing business as Shops at CDM LLC acquired the property, which features 13,883 square feet of multi-tenant retail space, for $13.7 million. Nathan Holthouser of Coastal Commercial and Ron Duong of Marcus & Millichap handled the transaction.

August 20, 2026

Arizona Loans Retail Western

CBRE Arranges $45.8 Million Loan for Refinancing of Scottsdale Towne Center

by Matthew Auchincloss August 19, 2026

SCOTTSDALE, ARIZ. — CBRE has arranged a $45.8 million loan for the refinancing of Scottsdale Towne Center, a 168,090-square-foot power center located at 15444 N. Frank Lloyd Wright Blvd. in Scottsdale. The center is nearly 100 percent leased and is anchored by TJ Maxx, Ross and Mountainside Fitness and shadow-anchored by Target. Shaun Moothart, Bruce Francis, Doug Birrell, Bob Ybarra and Nick Santangelo of CBRE Capital Markets’ Debt and Structured Finance team secured a five-year, fixed-rate, full-term interest-only loan on behalf of the owner, who acquired the property in 2021.

August 19, 2026

Acquisitions Nevada Retail Western

SRS Real Estate Partners Brokers $6.2M Sale of 31,086 SF Retail Property in Las Vegas

by Matthew Auchincloss August 19, 2026

LAS VEGAS — SRS Real Estate Partners has brokered the $6.2 million sale of a 31,086-square-foot retail property located at 2420 E. Desert Inn Road in Las Vegas. The building, which is situated on 2.5 acres, has been occupied by Ross Dress for Less for more than 40 years. Patrick Luther of SRS represented the West Coast private seller. The buyer was a private investor from California who paid all cash. The closing cap rate was 6.5 percent.

August 19, 2026

Acquisitions California Healthcare Leasing Activity Western

Meridian Acquires Pasadena Medical Office Building for $13.3M, Arranges Long-Term Lease With Huntington Health

by Amy Works August 19, 2026

PASADENA, CALIF. — Meridian has acquired 55 East California Boulevard, a medical office building located adjacent to Huntington Hospital in Pasadena, for approximately $13.3 million. Concurrent with the purchase, Meridian finalized a long-term lease with The Huntington Physicians, an affiliate of Huntington Health and Cedars-Sinai Health System, for the entire second floor of the 32,052-square-foot property. Meridian entered escrow on the property in September 2025 and worked with the City of Pasadena to update its zoning code to permit medical office use as a conforming use within the applicable zoning district. As part of the repositioning effort, Meridian has arranged a new 10-year lease with The Huntington Medical Foundation covering approximately 10,619 square feet on the building’s second floor. Angie Weber of CBRE represented Meridian, while Jackie Benavidez and Damon Feldmeth of CBRE represented Huntington Medical Foundation in the lease transaction. Mark Shaffer and Cody Chiarella of CBRE represented Meridian in the sale transaction.

August 19, 2026

Acquisitions Development Industrial Nevada Western

IndiCap Acquires Site for 70,405 SF Industrial Development in Southwest Las Vegas

by Amy Works August 19, 2026

LAS VEGAS — IndiCap has acquired land in southwest Las Vegas for the development of Southwest Bay, a Class A infill industrial project. The site spans 3.8 net acres of usable land, not including street rights-of-way, and the 70,405-square-foot property will offer shallow-, small- and mid-bay industrial space with flexible suite configurations. Current plans call for suite configurations beginning at approximately 17,600 square feet, with the ability to accommodate full-building users. Located at the southwest corner of Russell Road and Edmond Street, Southwest Bay will feature concrete tilt-up construction with 28-foot clear heights, ESFR fire sprinklers, dock-high and grade-level loading, electrical capacity and flexible demising options. Sitework is slated to begin in April 2027, followed by vertical construction in May 2027. Southwest Bay is scheduled for delivery in February 2028, with preleasing available before completion. The project team includes Lee & Sakahara Architects as architect and structural engineer, Per4mance Engineering as civil engineer and NDL Group as general contractor. Greg Tassi and Donna Alderson of Cushman & Wakefield are handling leasing for the project. First American provided title services for the project.

August 19, 2026

Acquisitions Hawaii Office Restaurant Retail Western

ESC Pacific Buys Historic Joseph W. Podmore Building in Honolulu for U.S. Headquarters

by Amy Works August 19, 2026

HONOLULU — ESC Pacific, an international architecture, engineering and environmental consulting firm with operations in Japan, Guam and the United States, has purchased the historic Joseph W. Podmore Building at 202 Merchant St. in Honolulu in an off-market transaction. Constructed in 1902 from Hawaiian blue-gray basalt and listed on the National Register of Historic Places since 1983, the two-story Podmore Building features 4,638 square feet. ECS will occupy the building’s second floor as its U.S. base, while the ground floor will continue its longstanding restaurant use. Matthew McKeever of CBRE Hawaii Capital Markets represented the buyer in the transaction, terms of which were not released.

August 19, 2026

Colorado Loans Retail Western

ABMAR Investments Receives $5.7M Loan for Refinancing of Union Square Shopping Center in Colorado Springs

by Amy Works August 19, 2026

COLORADO SPRINGS, COLO. — ABMAR Investments has received a $5.7 million loan for the refinancing of Union Square Shopping Center, a retail property located at 5035-5069 N. Academy Blvd. in Colorado Springs. Andrew Deaver, Rob Bova and Tom Gilliland of JLL Capital Markets arranged the three-year, floating-rate loan on behalf of ABMAR Investments, which will use a portion of the proceeds to fund upcoming improvements for tenant Crunch Fitness, along with additional capital expenditures. Built in 1978 and renovated in 2005, Union Square features 69,347 square feet of retail space and 582 surface parking spaces on 8.3 acres. At the time of sale, the shopping center was 98 percent leased to 13 tenants, including Crunch Fitness, Chipotle Mexican Grill, Edward Jones, 7Brew Coffee and Big 5 Sporting Goods.

August 19, 2026

Acquisitions California Multifamily Western

Bell Partners Acquires Multifamily Community in South San Francisco for $130M

by Amy Works August 18, 2026

SOUTH SAN FRANCISCO, CALIF. — Greensboro, N.C.-based Bell Partners has acquired Bell South City West, a 195-unit multifamily community in South San Francisco. According to the San Francisco Business Times, the sales price was $130 million. Sares Regis Group of Northern California and an institutional equity partner sold the property, which was formerly known as Celeste. Berkadia represented the seller in the transaction.

August 18, 2026

Build-to-Rent Development New Mexico Single-Family Rental Western

LaTerra Development, Revitate Open 344-Unit Build-to-Rent Community in Albuquerque

by Amy Works August 18, 2026

ALBUQUERQUE, N.M. —LaTerra Development, in partnership with Revitate, has opened The Charlie ABQ, a 344-unit build-to-rent community in Albuquerque. Situated on 37 acres at the southwest corner of Woodmont Avenue and Paseo del Norte, The Charlie ABQ features 202 townhomes and 142 detached single-family homes. The two-, three- and four-bedroom layouts range in size from 1,260 to 2,130 square feet. Every residence includes an attached two-car garage, private outdoor space and modern finishes. The community includes two large amenity centers with resort-style pools and spas, fitness centers, coworking lounges and outdoor gathering areas.

August 18, 2026

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