TUCSON, ARIZ. — Legacy Property Management has completed the sale of a 50,000-square-foot office space at 155 N. Rosemont Blvd. in Tucson. The Special Fund of the Industrial Commission of Arizona acquired the space for $8.5 million. Richard Kleiner and Alexis Corona of Cushman & Wakefield | PICOR represented the seller, while Christopher Corney of Jones Lang LaSalle Americas represented the buyer in the deal.
ESCONDIDO, CALIF. — Enduring Real Estate has brokered the sale of a vacant gas station located at 2004 E. Valley Parkway in Escondido. As attorney-in-fact, Dan Forde of Hoffman and Forde sold the asset to ASA Danial LLC for $5 million. Kevan McDougal and Joe Wojdowski of Enduring Real Estate represented the seller in the deal. The 23,087-square-foot parcel features a convenience store, auto repair facility, 16 gas dispensers and four 10,000-gallon double-wall tanks. Due to health issues of the previous ownership, the station was not operational for several years. The buyers plan to reopen the gas station after a six-month renovation.
AVONDALE, ARIZ. — Arizona-based Bela Flor and TruVista Development have completed the sale of Avalon Townhomes, a build-to-rent community in Avondale. An undisclosed buyer acquired the asset for $30.1 million, or $430,000 per unit. Completed in 2025, Avalon Townhomes features 70 two- and three-bedroom townhomes averaging 1,677 square feet in size. The townhomes offer quartz counters, kitchen islands, luxury plank flooring, stainless steel appliances, walk-in closets, dual vanities, doggy doors, full smart-home connectivity, as well as direct-access one- and two-car garages with EV charging, dedicated driveways, private enclosed backyards. Community amenities include a resort-style pool and spa, pet park, an outdoor fitness circuit, a barbecue ramada and abundant guest parking. Mark Forrester, Andrew Curtis and Ryan Boyle of Berkadia’s Phoenix office represented the seller in the deal.
OLYMPIA, WASH. — Northmarq has arranged the sale of Merritt Manor, a mid-rise apartment community in Olympia. Fourth Street’s Merritt Manor LLC sold the asset to Merritt Manor LLC for $19.5 million. Joe Kinkopf, Steve Fischer and Tyler Smith of Northmarq’s Seattle Investment Sales team represented the seller in the transaction. Located at 3335 Martin Way E, Merritt Manor features 82 two- and three-bedroom apartments with stainless steel appliances, granite countertops, moving kitchen islands, full-size washer/dryers, carpets bedrooms and walk-in closets. Community amenities include a community garden, grilling area, playground, basketball court, community lounge, EV charging station, ample off-street parking, elevator access and video patrol. The property was built in 2020.
RANCHO CUCAMONGA, CALIF. — PSRS has arranged $9.4 million for the refinancing of a neighborhood retail center in Rancho Cucamonga. Constructed in 2004, the 25,008-square-foot property is fully occupied by 14 tenants. Jonny Soleimani, George Gianoukakis and Garrett Carter of PSRS secured the non-recourse loan, which features a five-year term and a 27-year amortization schedule, through one of its correspondent life insurance companies.
LITTLETON, COLO. — Pinnacle Real Estate Advisors has arranged the $3.5 million sale of two retail properties in Littleton. Totaling 8,558 square feet, the properties are the Kauer Building at 2500 W. Main St. and an Art Deco-style building at 5711 S. Nevada St. The buildings were fully leased at the time of sale. R.C. Myles and Craig Myles of Pinnacle’s MB Team, along with Eric Shaw of Pinnacle Real Estate Advisors, represented the undisclosed sellers in the deal. The name of the buyer was not released.
DALLAS — Cushman & Wakefield has arranged the sale of a national portfolio of seven industrial buildings totaling 1.6 million square feet. The buildings are located across Texas, California, Utah and Tennessee. An unnamed institutional owner purchased the portfolio. The seller and sales price were also not disclosed. Properties in the recently acquired industrial portfolio include Valwood A (201,354 square feet), Valwood C (134,266 square feet) and Valwood D (127,620 square feet) in Carrollton, Texas (part of the Dallas MSA); Chino Distribution Center (409,930 square feet) in Chino, Calif.; Salt Lake Distribution Center I (190,000 square feet) and Salt Lake Distribution Center II (190,000 square feet) in Salt Lake City; and Elam Farms Distribution Center II (363,500 square feet) in Murfreesboro, Tenn. The buildings were constructed in the mid-2000s and were collectively 97 percent leased at the time of sale to a mix of national and regional tenants. The properties feature ESFR fire sprinkler systems, average clear heights of 30 feet, expansive truck courts, concrete tilt-up construction and ample parking. The national industrial advisory group at Cushman & Wakefield that arranged the sale consisted of Jim Carpenter, Adam Pastor, Robby Rieke, Emily Brandt, Jeff Chiate and Casey Masters. “This transaction vividly …
SANTA MARIA, CALIF. — Step Up Housing has acquired Hancock Terrace, a multifamily property located at 534 E. Boone St. in Santa Maria. Sack Capital Partners and Align Finance Partners closed on structured financing for the $75 million purchase. Sack will also provide asset and property management for the community. In an effort to expand housing options in the area, Step Up and Sack will immediately begin conversion of 75 percent of the units to affordable housing. Built in 2016, Hancock Terrace features 272 studio, one-, two- and three-bedroom floor plans, a swimming pool, 24-hour fitness center, two spas, a yoga studio, large clubhouse with TV lounge and demonstration kitchen, a dog park, children’s play area, ample onsite parking and elevator service. Institutional Property Advisors represented the undisclosed seller in the deal.
HESPERIA, CALIF. — JLL Capital Markets has arranged $33.8 million in first lien construction financing for the development of 10400 Amargosa Road, a to-be-built Class A industrial facility in Hesperia. Matt Stewart, Kellan Liem, Allie Black and Cameron Sepahi of JLL secured the five-year (inclusive of extension options), fixed-rate loan through TDA Investment Group for the borrower. Situated on a 21.5-acre site, the 428,185-square-foot, single-tenant building will feature a clear height of 36 feet, rear-load capabilities, an ESFR fire sprinkler system and 100 percent secure truck court with space for 59 trailer stalls and 216 auto parking spaces, including electric vehicle charging capabilities. The Covington Group will develop the project on behalf of owner/user Pixior Group. Construction is slated for completion in 11 months.
SAN DIEGO — Newmark has brokered the sale of San Carlos Village, a multifamily community located at 7707-7787 Tommy St. in San Diego. Pathfinder Partners acquired the asset for $31.6 million from ERFSCV LLC (heirs of the original developer) in an off-market transaction. Originally developed in 1980, San Carlos Village offers 160 apartments spread across 7.3 acres at the base of Cowles Mountain. The new ownership plans to rename the asset Cowles Landing. Erik Anderson of Newmark represented the buyer, while Greg Gorsuch of Chamberlain Property Management represented the seller in the deal. Robert Younkin and Garrett Meyers of Newmark arranged an $18.6 million Fannie Mae loan to facilitate the acquisition.