Western

JLL Arranges $820M Refinancing for 6.1 MSF Industrial Portfolio Across Six Markets

by Kristin Harlow October 22, 2025

IRVINE, CALIF. — JLL Capital Markets has arranged an $820 million refinancing for a 6.1 million-square-foot industrial portfolio comprising 42 shallow-bay properties across six markets. JLL arranged the CMBS financing on behalf of the borrower, a joint venture between affiliates of CIP Real Estate LLC and Almanac Realty Investors. Wells Fargo led the floating-rate, single-asset single-borrower (SASB) refinancing, with J.P. Morgan and Goldman Sachs also originating portions of the loan. The properties span major industrial markets, including Atlanta, Dallas-Fort Worth, Charlotte, Tampa and California’s East Bay and Inland Empire. As of September, the portfolio was 91 percent leased to more than 950 tenants. The buildings feature average clear heights of 19 feet, an average office finish of 33 percent and range in size from 16,176 to 944,655 square feet. The average property size is 145,925 square feet. Many tenants are logistics, e-commerce and distribution users, including last-mile operators and small- to medium-sized businesses. CIP plans to continue its growth strategy in the shallow-bay industrial sector, where it sees opportunity to serve the evolving needs of logistics, e-commerce and distribution tenants, according to CEO Eric Smyth. JLL’s Kevin MacKenzie, Peter Thompson, Christopher Pratt, Kyle White, Anthony Scaglione and Nick Englhard led …

October 22, 2025

Arizona Loans Retail Western

JLL Arranges $73.2M Refinancing for Shopping Center Portfolio in Chandler, Arizona

by Amy Works October 21, 2025

CHANDLER, ARIZ. — JLL Capital Markets has arranged $73.2 million in permanent financing for the Chandler Shopping Center Portfolio, a two-property retail portfolio in Chandler. JLL represented the borrower, a joint venture managed by a real estate investment trust, in securing the five-year, fixed-rate loans through a national bank. The financing was structured as one loan secured by two mortgages: $51 million for Chandler Festival and $22.2 million for Chandler Gateway. The portfolio encompasses 616,639 square feet of retail space along Chandler Boulevard. TJ Maxx, Ross Dress for Less, Nordstrom Rack and PetSmart are tenants at the 354,548-square-foot Chandler Festival. The 262,091-square-foot Chandler Gateway is anchored by Walmart and Hobby Lobby. Kevin MacKenzie, Jon Mikula, Jason Carlos, Quin Madden and Tyler Naughten of JLL represented the borrower in the financing.

October 21, 2025

California Development Multifamily Seniors Housing Western

CCI to Develop Livelle Mulholland Seniors Housing Property in Woodland Hills, California

by Amy Works October 21, 2025

WOODLAND HILLS, CALIF. — CCI is slated to break ground in second-quarter 2026 for the development of Livelle Mulholland, a seniors housing property in Woodland Hills. Located at the corner of Mulholland Drive and Valmar Road, Livelle Mulholland will feature more than 200 independent living apartments, seven villas, 16 assisted living apartments and 13 memory care units. Community amenities will include a wellness center with fitness and therapy pools, natural trails and outdoor game courts, underground and attached garage parking, a gourmet restaurant, wine bar/rooftop lounge, indoor and outdoor theaters and classrooms. LCS will manage the property, which is slated to open in the second half of 2028. Project partners include Perkins Eastman as architect, KPFF as engineer, Envicom as environmental and land planner, LRM as landscape architect, Carlberg Associates as horticulturist and Brenner Consulting Group as permit administrator.

October 21, 2025

Acquisitions California Retail Western

Hanley Investment Group Negotiates $19.2M Sale of Retail Center in Elk Grove, California

by Amy Works October 21, 2025

ELK GROVE, CALIF. — Hanley Investment Group Real Estate Advisors has directed the purchase of The Shops at Laguna Reserve, a fully leased, 33,308-square-foot retail center in Elk Grove. Los Angeles-based Bershon Realty Co. acquired the property from a Roseville, Calif.-based private investor for $19.2 million. Located at 10040-10064 Bruceville Road, The Shops at Laguna Reserve spans four parcels totaling 4.1 acres at the hard-corner, signalized intersection of Whitelock Parkway and Bruceville Road. The property’s six pad buildings were constructed in 2005, with the addition of Safeway in 2024. Current tenants include Starbucks Coffee, Pacific Dental, Bank of America, Round Table Pizza, a nail salon, dry cleaners, pet hospital, pet groomer and specialty food shops. Bill Asher and Jeremy McChesney of Hanley Investment Group represented the buyer, while Adam Rainey, Pat Ronan and Aman Bains of Gallelli Real Estate represented the seller in the deal. The sale included the fee-simple interest in the six buildings and underlying land. Safeway was not part of the transaction.

October 21, 2025

Acquisitions California Multifamily Seniors Housing Western

SLIB Brokers Sale of 132-Unit Seniors Housing Community in Brentwood, California

by Amy Works October 21, 2025

BRENTWOOD, CALIF. — Senior Living Investment Brokerage (SLIB) has brokered the sale of Westmont of Brentwood, a 132-unit community in Northern California. Built in 2007 and situated on 4.5 acres approximately 45 miles east of Oakland, Calif., the property offers independent living, assisted living and memory care services. The sales price was not disclosed. The buyer, an unnamed private equity group with a background in seniors housing, is partnering with an established West Coast operator that is expanding its presence in California. With the sale of Westmont of Brentwood, the unnamed seller has exited the space. Brad Goodsell, Jason Punzel, Vince Viverito, Jake Anderson and Taylor Graham of SLIB handled the transaction.

October 21, 2025

Acquisitions Nevada Office Western

Pecos Beltway Holdings Sells Two Office Buildings in Henderson, Nevada for $5.9M

by Amy Works October 21, 2025

HENDERSON, NEV. — Pecos Beltway Holdings LLC has completed the sale of two single-story office buildings within Pecos 215 Plaza in Henderson. A private buyer acquired the multi-tenant property for $5.9 million. Located at 8905 and 8935 S. Pecos Road, the asset offers 21,908 square feet of office space. Michael Hsu of CBRE represented the seller in the transaction.

October 21, 2025

Arizona Development Mixed-Use Restaurant Retail Student Housing Top Stories Western

Core Spaces, Wexford Break Ground on 30-Story Student Housing Tower Near Arizona State University

by John Nelson October 21, 2025

TEMPE, ARIZ. — A joint venture between Core Spaces and Wexford Developments has broken ground on Hub on Campus Tempe, a 30-story student housing tower located near the Arizona State University campus in downtown Tempe. The development, which will feature 1,957 student housing beds, a rooftop amenity deck and ground-level retail space, is scheduled for completion in summer 2028. Kennedy Wilson provided construction financing for the project, and TSB Capital Advisors consulted on the transaction. The development team includes general contractor Findorff and RSP Architects. Core Spaces will manage Hub on Campus Tempe upon completion and the firm’s in-house design team will design the interiors. The project site was formerly home to the historic Harry Walker House, also known as the House of Tricks restaurant, which was recently relocated next to Tempe City Hall on Fifth Street for future preservation and restoration. The development team is working to preserve the nearby First Congregational Church, which will be transferred to city ownership to ensure its continued protection. “This development will provide much-needed housing while also keeping the city’s historic landmarks part of the evolving landscaping,” says Doug Tichenor, senior director of entitlements at Core Spaces. “We see this project as a …

October 21, 2025

Colorado Industrial Loans Western

JLL Secures $99.3M Refinancing for 25 North Industrial Complex in Metro Denver

by Amy Works October 20, 2025

THORNTON, COLO. — JLL Capital Markets has secured $99.3 million in refinancing for 25 North, a Class A industrial complex in Thornton. Eric Tupler, John Rose and Emily Goldsberry of JLL worked on behalf of Sagard Real Estate, a subsidiary of the global alternative asset management platform Sagard, to secure a loan through a debt fund. Situated on 66.3 acres, the 936,775-square-foot industrial asset consists of nine buildings constructed between 2020 and 2024. The property features clear heights ranging from 28 feet to 32 feet, 205 dock-high doors, 34 drive-in doors and 1,770 parking spaces. The development offers flexible configurations with suite sizes ranging from 14,262 square feet to 135,000 square feet. The properties offer accommodations for both single and multi-tenant operations for warehouse, distribution and showroom uses.

October 20, 2025

Acquisitions Arizona Development Industrial Western

Conor Commercial, Globe Corp. Plan Four-Building Industrial Project in Phoenix

by Amy Works October 20, 2025

PHOENIX — Conor Commercial Real Estate, along with Globe Corp. as capital partner, has won the auction for a 40-acre parcel of land at East Deer Valley Drive and North 7th Street in Phoenix. Conor won the land site with a $24.7 million bid. The company plans to develop a 453,708-square-foot industrial project with four buildings ranging from 88,512 square feet to 167,040 square feet. The buildings will be designed for light distribution, assembly or advanced manufacturing with 32- to 36-foot clear heights, a minimum of 3,000-amp electrical service for each building, oversized drive-in doors and abundant employee parking. Construction is slated to begin in early second-quarter 2026 with completion planned for late in the second quarter of 2027. McShane Construction Co. and Ware Malcomb will provide design-build services and Kimley-Horn will provide civil engineering services for the project.

October 20, 2025

Arizona Development Healthcare Western

Irgens Breaks Ground on Two-Phase Cielo Vista Medical Commons in Peoria, Arizona

by Amy Works October 20, 2025

PEORIA, ARIZ. — Irgens has broken ground on Cielo Vista Medical Commons, a two-phased medical office building development at 26425 N. Lake Pleasant Parkway in Peoria. The project will deliver up to 80,000 square feet of rentable space across two buildings on 6.6 acres. Sheila Bale and Erika Eckblad of Cushman & Wakefield are marketing the property for lease. Phase I will include the Lake Building, a single-story, 30,178-square-foot, multi-tenant medical office building with adjacent parking and site infrastructure. Completion is slated for June 2026. Phase II will feature the Summit Building, a two-story, 50,000-square-foot multi-tenant office building equipped with a gurney-sized elevator and additional parking. Delivered in shell condition, both buildings will feature brick masonry facades, flexible floor plates and state-of-the-art HVAC systems.

October 20, 2025

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