Western

Newmark Brokers Sale of 82,025 SF Office Building in Pasadena, California

by Amy Works January 20, 2026

PASADENA, CALIF. — Newmark has negotiated the sale of The Chamber of Commerce Building, an office property located at 117 E. Colorado Blvd. in Pasadena. A partnership led by Pasadena-based investor Pete Klutzier and his company, Edgewood Realty Partners, acquired the asset for an undisclosed price. Built in 1904 in the tradition of Beaux-Arts architecture, The Chamber of Commerce Building offers 82,025 square feet of 84 percent leased office space and an adjacent standalone parking structure at 48 N. Raymond Ave. The building has undergone significant upgrades over the years and caters to the needs of small- to mid-sized tenants. Kevin Shannon, Rob Hannan, Ken White, Laura Stumm and Michael Moll of Newmark represented the undisclosed seller in the deal.

January 20, 2026

Acquisitions Arizona Retail Western

Tucson Newcrest Buys 62,750 SF Retail Space at Eastpoint Marketplace in Tucson, Arizona

by Amy Works January 20, 2026

TUCSON, ARIZ. — Tucson Newcrest has acquired 62,750 square feet of retail space at Eastpoint Marketplace, located at 6964-6970 E. 22nd St. in Tucson. Eastpoint Kolb Additional Investors LLC, JRSL LLC, Union Financial Management Services and JDW CAT 10 sold the asset for $12.8 million. Rob Tomlinson of Cushman & Wakefield | PICOR represented the buyer and seller in the deal.

January 20, 2026

California Market Reports Office Western Western Market Reports

Occupancy Gains Reinforce Inland Empire’s Office Market Recovery

by John Nelson January 20, 2026

— By J.C. Casillas of NAI Capital — The Inland Empire office market continues to show signs of recovery, with broad-based tenant demand pushing occupancy higher and absorbing vacant direct space. While landlords are holding asking rents steady to capitalize on the improving environment, direct vacant space decreased 3.2 percent quarter over quarter and 16.4 percent year over year. Vacant sublease space fell a solid 4.5 percent quarter over quarter, though it nearly doubled year over year to 135,149 square feet at year-end. Renewed tenant activity continues to chip away at vacant space, reinforcing the recovery. In fourth-quarter 2025, net absorption — driven primarily by direct space — totaled about 557,000 square feet for the year, marking a meaningful milestone in the market’s rebound. The vacancy rate edged down 10 basis points quarter over quarter, supported by 106,095 square feet of space coming off the market. It now stands at 4.7 percent, 80 basis points lower than a year ago. Stabilization has been supported by shifting workplace strategies and evolving remote work patterns. Since the economy reopened following the pandemic, occupied office space has increased by nearly 2.1 million square feet, surpassing pre-pandemic levels. Sublease vacancy has fallen 22.5 percent …

January 20, 2026

Loans Utah Western

Northmarq Secures $82.5M Bridge Loan for Two Multifamily Properties in Salt Lake City

by Amy Works January 19, 2026

SALT LAKE CITY — Northmarq has arranged an $82.5 million bridge loan for the refinancing of CINQ and LUMA, two mid-rise apartment communities in Salt Lake City. John Bradshaw, Larry Pinnock and Adam Bradshaw of Northmarq’s Salt Lake City Debt + Equity secured the financing for the undisclosed borrower, through a relationship with Prudential. Located at 550 W. 200 S, CINQ features one-, two- and three-bedroom units, a fitness center, year-round heated lounge pool, a courtyard with barbecues and yard games, mezzanine level with a speakeasy whiskey lounge, business booths and coworking spaces. Additional amenities include bike wash and repair spaces, a dog spa and dog play area, controlled parking access and parking garage, package lockers and professional onsite management and maintenance. Located at 205 W. 500 W., LUMA offers studio, one- and two-bedroom units with stainless steel appliances, granite countertops, walk-in closets, balconies and urban mud rooms. Community amenities include a fitness center, swimming pool, clubhouse, coworking space, onsite maintenance, a barbecue grill, bike wash and repair space, bike storage, private wine storage and a private dining and wine tasting area.

January 19, 2026

Acquisitions Retail Washington Western

L&B Realty Advisors Divests of 67,578 SF Retail Building in Downtown Seattle

by Amy Works January 19, 2026

SEATTLE — L&B Realty Advisors has completed the $8 million disposition of a retail building located at 601 Pine St. in downtown Seattle. Dino Christophilis and Daniel Tibeau of CBRE represented the seller in the deal. Situated on 0.35 acres of land, the 67,578-square-foot property is located a block away from Westlake Center and in the core of Seattle’s central business district. The undisclosed buyer plans to renovate the four-story property in preparation of new retailers, according to CBRE.

January 19, 2026

Acquisitions California Office Western

CBRE Brokers $6.2M Sale of of Orange Plaza Office Building in Redlands, California

by Amy Works January 19, 2026

REDLANDS, CALIF. — CBRE has negotiated the sale of Orange Plaza, an office building located at 1615 Orange Tree Land in Redlands. A corporate seller sold the asset to an undisclosed buyer for $6.2 million. Sammy Cemo, Austin Reuland, Anthony DeLorenzo and Bryan Johnson of CBRE represented the seller in the transaction. Situated on 2.5 acres, the two-story building offers 36,360 square feet of office space and ample parking.

January 19, 2026

Acquisitions Arizona Net Lease Retail Western

Cushman & Wakefield Arranges $3.2M Sale of Dollar Tree-Occupied Retail Property in Glendale, Arizona

by Amy Works January 19, 2026

GLENDALE, ARIZ. — Cushman & Wakefield has brokered the sale of a single-tenant retail property located at 6773 W. Bell Road in Glendale. WM Grace Cos. sold the asset to Teakwood Norman LLC for $3.2 million. Dollar Tree occupies the 12,064-square-foot property, which was built in 2002, under a net-lease structure. Chris Hollenbeck and Shane Carter of Cushman & Wakefield represented the seller in the transaction.

January 19, 2026

Acquisitions California Multifamily Top Stories Washington Western

Interstate Equities, PGIM Acquire Multifamily Portfolio in Silicon Valley, Seattle for $272M

by Taylor Williams January 19, 2026

MOUNTAIN VIEW, REDWOOD CITY AND SUNNYVALE, CALIF., AND SEATTLE — Interstate Equities Corp. (IEC), in partnership with PGIM, has acquired a portfolio of four multifamily properties totaling 574 units in Silicon Valley and Seattle. The sales price was $272 million. The seller was not disclosed. The properties, all of which were built between 1987 and 2015 and offer amenities such as fitness centers, pools, dog parks, business centers and outdoor grilling and dining stations, are collectively known as the mResidences Portfolio. They include: IEC plans to implement strategic value-add improvements and amenity enhancements designed to optimize operations and improve net operating income across the assets. The deal is structured with PGIM holding a majority of the equity interest, while IEC retains a minority. “This acquisition reflects a disciplined, risk-aware approach to capital deployment, with a focus on assets positioned to perform through the full hold period,” says Brendan Gibney, director of investments at IEC. “In Silicon Valley and South Lake Union, structural supply constraints, elevated replacement costs and durable employment fundamentals provide meaningful downside protection for occupancy, while strong rent momentum in the Bay Area supports continued rent growth across the cycle.” — Amy Works and Taylor Williams

January 19, 2026

California Development Loans Multifamily Western

Priority Capital Closes $174M Financing for Multifamily Project in Santa Maria, California

by Amy Works January 16, 2026

SANTA MARIA, CALIF. — Priority Capital Advisory, led by Founder and President Zachary Streit, has closed on $174 million in construction financing on behalf of the ownership of Blosser Ranch, a 160-acre master-planned development in Santa Maria. The financing funds both horizontal and vertical construction for the first phase, a three-story, 302-unit, garden-style apartment community on 12 acres. Additionally, the funding recapitalizes the remaining land within the entire development, positioning the borrower for the project’s six future subphases. The structured capital stack financing includes: The Class A multifamily property will feature studio, one-, two- and three-bedroom floor plans ranging in size from 490 to 1,188 square feet. Community amenities will include a pool and spa, clubhouse, fitness center, business center, outdoor barbecues, fire pits, a pet park and a playground. Completion of the first phase is slated for summer 2027. Upon full build-out, Blosser Ranch is planned to include approximately 1,500 single-family and multifamily residential units, retail space, a public park, a school and a water retention basin.

January 16, 2026

Acquisitions Montana Multifamily Western

IPA Negotiates Sale of 288-Unit Talus Apartment Homes in Central Montana

by Amy Works January 16, 2026

GREAT FALLS, MONT. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Talus Apartment Homes, a multifamily property in Great Falls. Brock Zylstra and Danny Shin of IPA, in association with Adam Christofferson as Marcus & Millichap’s broker of record in Montana, represented the seller and procured the buyer in the deal. Terms of the transaction were not released. Built in two phases in 2015 and 2018, Talus Apartment Homes features 288 studio, one- and two-bedroom layouts with open concept living areas. All units offer stainless steel appliances, modern cabinetry and washers and dryers. Community amenities include a resort-style swimming pool, 24-hour fitness center and a clubhouse with a theater and media room.

January 16, 2026

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