Western

Marcus & Millichap Brokers Sale of 31,701 SF Multi-Tenant Office Building in San Jose, California

by Amy Works June 30, 2025

SAN JOSE, CALIF. — Marcus & Millichap has arranged the sale of 1054 South De Anza Boulevard, a three-story multi-tenant office property in San Jose. The asset sold for $9.7 million. Yuri Sergunin, Vince Schwab and J.J. Taughinbaugh of Marcus & Millichap represented the undisclosed seller, while Simon Chen of Buffalo RE represented the undisclosed buyer in the deal. Constructed in 1985 on 1.2 acres, the 31,701-square-foot property features an atrium, elevator access and ample parking. At the time of sale, the building was 75 percent occupied.

June 30, 2025

Acquisitions Arizona Office Restaurant Retail Western

FalconEye Ventures Acquires 755,000 SF Scottsdale Quarter Mixed-Use Project in Arizona, Plans $100M in Improvements

by Amy Works June 27, 2025

SCOTTSDALE, ARIZ. — FalconEye Ventures has purchased Scottsdale Quarter, an open-air mixed-use development in Scottsdale, for an undisclosed price. The asset offers 755,000 square feet of retail, dining and office space. Current tenants include Apple, Restoration Hardware, lululemon, Jenni Kayne, Veronica Beard, Dominick’s Steakhouse and True Food Kitchen. As part of the acquisition, FalconEye plans to implement a $100 million capital improvement program to the property. The program will focus on tenant curation, infrastructure enhancements and experiential retail concepts designed to differentiate the property. Implementation is scheduled to commence in late 2025, with phased execution designed to minimize operational disruption to existing tenants. FalconEye has retained Vestar to be a strategic partner and oversee operations at the property. FalconEye is a real estate investment company founded by tech entrepreneur George Kurtz in 2020.

June 27, 2025

Acquisitions Retail Washington Western

JLL Brokers $35.4M Sale of Safeway-Anchored Retail Center in Seattle

by Amy Works June 27, 2025

SEATTLE — JLL Capital Markets has arranged the sale of Admiral Junction, a grocery-anchored retail center in Seattle’s Admiral submarket. Silver Star Ventures acquired the asset for $35.4 million. Located at 2620 California Ave. SW, the 67,992-square-foot property features a 60,876-square-foot Safeway and a 7,116-square-foot retail building. At the time of sale, the property was fully leased with Safeway comprising 82 percent of the asset. Daniel Tyner, Geoff Tranchina, Gleb Lvovich and Zach Koucos of JLL represented the buyer in the transaction. The name of the seller was not released.

June 27, 2025

Acquisitions Arizona Multifamily Western

Denali Apartments Purchases Multifamily Community in Phoenix for $34.7M

by Amy Works June 27, 2025

PHOENIX — Denali Apartments LLC has acquired Seventh, an apartment property in Phoenix’s North Central neighborhood, from an undisclosed seller for $34.7 million. The seller owned and operated the asset since 2021, during which time they completed major capital improvements. Located at 5145 N. 7th St., the 154,282-square-foot multifamily property offers 286 studio, one-, two- and three-bedroom floor plans with an average unit size of 539 square feet. Community amenities include two swimming pools, several laundry facilities and a modern fitness center with outdoor workout space. David Fogler and Steven Nicoluzakis of Cushman & Wakefield represented the seller in the transaction.

June 27, 2025

Arizona Loans Office Retail Western

Gantry Secures $16.7M Refinancing for Plaza Colonial Office, Retail Property in Tucson

by Amy Works June 27, 2025

TUCSON, ARIZ. — Gantry has secured a $16.7 million permanent loan to refinance Plaza Colonial, an office and retail property in Tucson. Located at 2840-2890 E. Skyline Drive and 6375 N. Campbell Ave., Plaza Colonial offers 83,869 square feet of retail and office space spread across four buildings. Patrick Barkley and Chad Metzger of Gantry represented the borrower, a private real estate investor. An institutional balance sheet lender provided the five-year, fixed-rate loan, which features full-term interest-only payments. Gantry will service the loan.

June 27, 2025

Acquisitions California Retail Western

Brixton Capital Buys Portion of Elk Grove Village Shopping Center in California

by Amy Works June 27, 2025

ELK GROVE, CALIF. — Brixton Capital has purchased four parcels of the Elk Grove Village shopping center from Elk Grove Village LLC (Mima Capital LLC) for $10.6 million. The neighborhood retail center is located at 8511-8591 Elk Grove Blvd. in Elk Grove, approximately 15 miles south of Sacramento. At the time of sale, the property was fully leased. Current tenants include Arby’s, Macque’s BBQ, Plaza del Sol restaurant and Papa Murphy’s Pizza. Over the next five years, Brixton plans to make improvements to the center, which was built between 1984 and 1988. Randy Getz of CBRE represented the seller, while Brixton Capital was self-represented in the transaction.

June 27, 2025

Acquisitions California District of Columbia Multifamily Southeast Top Stories Western

JRK Property Holdings Acquires Two Apartment Communities in Los Angeles, Washington, D.C. for $315M

by Abby Cox June 27, 2025

LOS ANGELES AND WASHINGTON, D.C. — Los Angeles-based JRK Property Holdings has acquired two apartment communities totaling 684 units, Chase Knolls in Los Angeles and WestEnd25 in Washington, D.C., in two separate transactions for a combined total of $315 million. Located on 14 acres in the Los Angeles neighborhood of Sherman Oaks, Chase Knolls is a 401-unit garden-style community that encompasses nearly two city blocks. The property was originally built in 1949 to include 260 Art Deco-inspired apartment homes across 19 one- and two-story residential buildings. In 2021, a new clubhouse and resort-style swimming pool were integrated into the community, along with 141 new units that were constructed to occupy six additional residential buildings. JRK also plans to make further enhancements to the complex to improve the community amenities and common areas. According to Cushman & Wakefield, which marketed the property for sale on behalf of the undisclosed seller, Chase Knolls is one of only 12 apartment communities exceeding 100 units built in Sherman Oaks over the past 75 years, a testament to the significant development hurdles in the area, such as limited land and high barriers to entry. The second property, WestEnd25, is a 283-unit high-rise apartment community that …

June 27, 2025

Arizona Development Multifamily Student Housing Western

Trinitas, Mitsui Fudosan to Break Ground on 27-Story Student Housing Tower Near Arizona State University

by Amy Works June 26, 2025

TEMPE, ARIZ. — A partnership between Trinitas Ventures and Mitsui Fudosan America is set to break ground on Astria Tempe, a 27-story student housing tower located steps away from the Arizona State University campus in Tempe. The development will offer units in studio, one-, two- and three-bedroom configurations. Shared amenities will include a pool, spa, fitness center, coworking space, social lounges, dog-friendly areas and ground-floor retail space. The community is scheduled for completion in summer 2027. TSB Capital Advisors arranged equity for the project, and BMO Bank provided financing. The development team includes Layton Construction Co. and Niles Bolton Associates.

June 26, 2025

California Development Multifamily Student Housing Western

GMH, Wexford Complete 252-Bed Student Housing Project Near UC Davis, Sacramento Campus

by Amy Works June 26, 2025

SACRAMENTO, CALIF. — A joint venture between GMH Communities and Wexford Science & Technology has completed ANOVA Aggie Square, a 252-bed development located on Stockton Boulevard near the University of California, Davis (UC Davis) campus in Sacramento. The community offers 190 units in a mix of studio, one-, two- and four-bedroom configurations. Shared amenities include a 2,500-square-foot fitness center with yoga and spin studios; soundproof office pods and private conference rooms; a coffee bar; wellness lounge with a sauna and massage chairs; 24-hour package system; game room with billiards; and an amenity patio with grilling stations. UC Davis Student Housing and Dining Services master leases 49 of the units and leases them at below-market rates. Priority for occupancy of these units is given to first-year medical, nursing and graduate students studying on the Sacramento campus. The remaining units are available for lease via GMH Communities, which operates the property, with priority given to university students, faculty and staff. The community was constructed during Phase I of Aggie Square, a larger mixed-use project that is set to include state-of-the-art research facilities and office space.

June 26, 2025

Acquisitions Arizona Multifamily Western

Marcus & Millichap Arranges Sale of 84-Unit Westside Commons Apartment Complex in Tucson

by Amy Works June 26, 2025

TUCSON, ARIZ. — Marcus & Millichap has brokered the sale of Westside Commons, a multifamily property in Tucson. A limited liability company acquired the asset from a limited liability company for $10.7 million. Located at 1335 West St. Mary’s Road, Westside Commons offers 84 apartments. Hamid Panahi and Clint Wadlund of Marcus & Millichap represented the seller and procured the buyer in the deal.

June 26, 2025

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