Property Type

The REMM Group To Manage 1,000 Multifamily Units Across Eight Properties in Southern California

by Jeff Shaw June 5, 2023

SANTA ANA, CALIF. — The REMM Group, a property management company headquartered in Santa Ana, has been assigned as operator for eight Southern California multifamily properties totaling over 1,000 units. The largest of the properties is McComber Creek Apartment Homes, a 348-unit community in Buena Park. McComber Creek offers studio, one- and two-bedroom apartments, as well as amenities such as a pool and two tennis courts. The other seven properties include: Villa Creek Apartment Homes in Cypress; The Jagger in Los Angeles; Pasadena Village Apartment Homes in Tustin; Fountain Park Apartment Homes in Buena Park; Orange Creek Apartment Homes in Orange; Courtyard at La Pat Place Westminster; and Lincoln Village in Anaheim.

June 5, 2023

Acquisitions California Office Western

CBRE Brokers $6.4M Sale of Office Complex in San Diego

by Jeff Shaw June 5, 2023

SAN DIEGO – Barron Team and CAPRO Network Financials have acquired a 22,532-square-foot office building in San Diego for $6.4 million. The building is located at 10085 Carroll Canyon Road in the Scripps Ranch submarket. The new buyers plan to occupy the building, which is currently 50 percent leased. The 11,339-square-foot second floor is fully leased to short-term tenants. The 11,193-square-foot bottom floor is available for the buyer to occupy. Chris Powers, Matt Pourcho, Anthony DeLorenzo, Nick Williams and Matt Harris of CBRE Investment Properties represented the seller, Rosner Law & Mansfield, in the transaction.

June 5, 2023

Acquisitions California Industrial Western

EverWest Acquires 101,175 SF Warehouse in Long Beach, California

by Jeff Shaw June 5, 2023

LONG BEACH, CALIF. — EverWest Real Estate Investors has acquired a 101,175-square-foot warehouse facility in Long Beach. The facility is situated immediately off interstates 710 and 405, just north of the Ports of Long Beach/Los Angeles. The building features up to 22-foot clear height, 12 dock-high and three grade-level doors, a separate truck court and a secured fenced storage yard. It is fully leased to FLS Warehouse and Distribution. The site also offers significant acreage deployable for a variety of uses, including industrial outdoor storage (IOS). Abie Kassin, Ikey Betesh and Michael Schoenbrun of Meridian Investment Sales represented both the buyer and the seller in the transaction.

June 5, 2023

California Loans Retail Western

Milan Capital Management Receives $12.1M Refinancing for Mission Promenade Shopping Center in Oceanside, California

by Jeff Shaw June 5, 2023

OCEANSIDE, CALIF. — Milan Capital Management has received a $12.1 million loan for the refinancing of Mission Promenade, a 105,700-square-foot retail center in Oceanside, approximately 40 miles northwest of San Diego. Built in 1972 and renovated in 1999, the property was 97 percent leased at the time of financing to tenants including El Super and dd’s Discounts. Jeff Sause and John Chun arranged the 10-year loan through a regional bank on behalf of the borrower.

June 5, 2023

Arizona Industrial Leasing Activity Western

Tempur-Pedic Preleases Space at Buckeye85 Industrial Development in Tolleson, Arizona

by Jeff Shaw June 5, 2023

TOLLESON, ARIZ. — Tempur-Pedic has signed a full building prelease at Buckeye85 near Phoenix’s I-10 Corridor. It is located at 10333 W. Buckeye Road in Tolleson. The lease brings the $60 million warehouse and distribution project to full occupancy prior to construction completion. The 321,892-square-foot space will become home to a new Tempur-Pedic distribution center, allowing to the company to continue expanding its long-standing, multi-building metro Phoenix logistics presence. JLL’s Riley Gilbert represented Tempur-Pedic in the lease agreement. Lincoln Property Co. owns Buckeye85.

June 5, 2023

Development Industrial Texas

Ironwood Underway on 490,000 SF Industrial Project in Pflugerville, Texas

by Taylor Williams June 5, 2023

PFLUGERVILLE, TEXAS — Dallas-based developer Ironwood Realty Partners is underway on construction of a project in the northern Austin suburb of Pflugerville that will add 490,000 square feet of industrial space across three buildings to the local supply. The project represents the third and final phase of 130 Crossing, a development whose first two phases featured five buildings totaling 675,000 square feet. Alliance Architects is designing Phase III, and Catamount Constructors is serving as the general contractor. Stream Realty Partners is the leasing agent. Completion is slated for the fourth quarter.

June 5, 2023

Development Multifamily Texas

Henry S. Miller to Develop 204-Unit Multifamily Project in Ferris, Texas

by Taylor Williams June 5, 2023

FERRIS, TEXAS — Dallas-based Henry S. Miller Cos. will develop Casitas Shaw Creek, a 204-unit multifamily project in Ferris, a southern suburb of Dallas. The project has a total price tag of $35 million. Casitas Shaw Creek will comprise six three-story residential buildings and a 5,000-square-foot retail building on an 11.4-acre site. Units will come in one-, two- and three-bedroom floor plans, and amenities will include a pool, fitness center, resident clubhouse, dog park and outdoor grilling and dining areas. Construction is scheduled to begin next spring and to last about 24 months.

June 5, 2023

Loans Multifamily Texas

MMCC Arranges $10.5M Loan for Refinancing of Two Houston Multifamily Properties

by Taylor Williams June 5, 2023

HOUSTON — Marcus & Millichap Capital Corp. (MMCC) has arranged a $10.5 million loan for the refinancing of two multifamily properties totaling 206 units in Houston. Fairmount and Atwell Village, both of which are located in the Bellaire submarket on the city’s west side, total 164 and 42 units, respectively. Both properties are currently in the midst of being renovated. Adam Pike and Brad Korndorffer of MMCC arranged the financing. The borrower and direct lender were not disclosed.

June 5, 2023

Acquisitions Hospitality Oklahoma Texas

Park-Equities Negotiates Sale of 96-Room Hotel in Tulsa

by Taylor Williams June 5, 2023

TULSA, OKLA. — Miami-based hospitality brokerage firm Park-Equities has negotiated the sale of a 96-room hotel in Tulsa. The property originally opened as a Residence Inn and was operated under the Motel 6 brand at the time of sale. SL Capital purchased the property from an undisclosed seller. Park-Equities brokered the deal in conjunction with Jennifer Stein Real Estate.

June 5, 2023

Lee & Associates Office Texas

Diamond Offshore Drilling Signs 62,584 SF Office Headquarters Lease in Houston

by Taylor Williams June 5, 2023

HOUSTON — Diamond Offshore Drilling has signed a 62,584-square-foot office headquarters lease in Houston’s Energy Corridor area. The energy firm will occupy the ninth, 11th and 12th floors of One Eldridge, a 245,315-square-foot building, with plans to move in during the fourth quarter. Lonna Jenks of JLL and Eric Anderson of Transwestern represented Diamond Offshore in the lease negotiations. Jon Dutton and Andrew Elliott represented the landlord, Granite Properties, on an internal basis.

June 5, 2023

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