Property Type

Ziegler Closes $29M Bond Financing for Ensō Verde Seniors Housing Development in Simi Valley, California

by Amy Works March 3, 2023

SIMI VALLEY, CALIF. — Ziegler has arranged $29 million in bond financing for Ensō Verde, a seniors housing community currently under development in Simi Valley. The borrower is Kendal Corp., which began developing the continuing care retirement community in 2022. Located on 21 acres, plans call for 237 independent living units, 24 assisted living units, 24 memory care units and related amenities and common areas. The California Public Finance Authority issued the unrated bonds, which are a mix of tax-exempt and taxable. The bonds will be used to purchase the development site, fund preconstruction development and marketing costs and pay certain costs of issuance. The project is scheduled to open later this year.

March 3, 2023

Acquisitions California Industrial Western

Colliers Negotiates $26M Acquisition of Gifford Business Park in San Bernardino, California

by Amy Works March 3, 2023

SAN BERNARDINO, CALIF. — Colliers has arranged the sale of Gifford Business Park, a seven-building industrial business park in the Inland Empire submarket of San Bernardino. MIG acquired the asset from Positive Investments for $26 million. Christopher Smith and Andrey Mindirgasov of Colliers represented the buyer, while Alan Pekarcik of Kidder Mathews represented the seller in the deal. Located at 750-760 E. Central Ave. and 765-791 S. Gifford Ave., Gifford Business Park features 156,717 square feet of industrial space. The park offers 78 units, ranging from 910 square feet to 19,302 square feet, across seven buildings.

March 3, 2023

Acquisitions California Retail Western

Progressive Real Estate Partners Brokers $3M Sale of Farmer’s Corner Retail Center in San Jacinto, California

by Amy Works March 3, 2023

SAN JACINTO, CALIF. — Progressive Real Estate Partners has arranged the sale of Farmer’s Corner, a farmhouse-style indoor retail center in San Jacinto. An Orange County-based private investor sold the value-add asset to a San Diego-based private investor for $3 million. Located at 2500 S. San Jacinto Ave., the 77,000-square-foot property was 40 percent vacant at the time of sale. Built in 1980, the center is currently home to a variety of service-based tenants, including a breakfast eatery, jeweler, barber, party supply company and professional offices. The vacancy includes a 9,000-square-foot, fully equipped restaurant space, ground-floor retail space and second-story office space. Farmer’s Corner’s indoor concourse features 20-foot clear heights, exposed beams, landscaping and a water feature. The buyer plans to upgrade the property, including replacing the roof and implementing an aggressive marketing effort to lease up the asset. Greg Bedell and Mike Lin of Progressive Real Estate Partners represented the buyer and seller in the deal.

March 3, 2023

Acquisitions Industrial Texas

Cold Creek Solutions Sells 374,560 SF Cold Storage Facility in Denton, Texas

by Taylor Williams March 3, 2023

DENTON, TEXAS — Cold Creek Solutions, a cold storage developer based in the Dallas-Fort Worth area, has sold a 374,560-square-foot speculative facility in the North Texas city of Denton. The facility sits on a 23-acre site just northwest of I-35 and Barthold Road. Building features include 45-foot clear heights, more than 60,000 pallet positions, multiple tenant suites with convertible temperature functionality, 65 trailer parking spaces and ample car parking. ARCO National Construction served as the general contractor for the project, construction of which began in late summer 2021. The buyer was not disclosed.

March 3, 2023

Acquisitions Multifamily Utah Western

CBRE Arranges Sale of 75-Unit Townhome Community in Roy, Utah

by Amy Works March 3, 2023

ROY, UTAH — CBRE has facilitated the sale of Orchards at 19th, a townhome community located at 4499 S. 1900 W. in Roy, a suburb 30 miles north of Salt Lake City. Crockett & Koehler LLC sold the asset to California-based Warmington Properties for an undisclosed price. Featuring 14 two-story buildings, Orchards at 19th offers 75 residences in a mix of one-, two- and three-bedroom layouts, averaging 1,241 square feet. Built in 2020, the townhomes feature open-concept floorplans, large kitchens, granite countertops, walk-in closets, private patios, attached garage parking and private driveways. Community amenities include a fitness center, clubhouse, playground, walking trails, dog park and mountain views. Patrick Bodnar of CBRE represented the seller in the transaction.

March 3, 2023

Acquisitions Office Texas

Newmark Brokers Sale of 262,962 SF Office Building in Irving’s Las Colinas District

by Taylor Williams March 3, 2023

IRVING, TEXAS — Newmark has brokered the sale of Crestview Tower, a 262,962-square-foot office building in Irving’s Las Colinas district. The 12-story building sits on a 10.1-acre site and was renovated in 2015. Amenities include a fitness center, conference facilities, tenant lounge and various outdoor green spaces. Robert Hill, Chris Murphy, Gary Carr and Chase Tagen of Newmark represented the seller, Austin-based CapRidge Partners, in the transaction. The buyer, a partnership between Reserve Capital Partners and Trinity Investors, has retained Stream Realty Partners to lease the building and hired Entos Design to reimagine the entryway, lobby, fitness center, tenant lounge and outdoor patio. Crestview Tower was 78 percent leased at the time of sale.

March 3, 2023

Acquisitions Multifamily Northmarq Texas

Northmarq Arranges Sale of 91-Unit Apartment Complex in San Antonio

by Taylor Williams March 3, 2023

SAN ANTONIO — Northmarq has arranged the sale of The VUE, a 91-unit apartment complex in San Antonio’s Vance Jackson neighborhood. The nine-story building offers one-, two- and three-bedroom units that are furnished with stainless steel appliances, balconies and washer/dryer connections. Amenities include a pool, fitness center, business center, resident lounge, coffee bar and a package locker system. Moses Siller of Northmarq represented the seller, Mission DG, in the transaction. The buyer and sales price were not disclosed.

March 3, 2023

Leasing Activity Office Texas

Holt Lunsford Negotiates 20,891 SF Office Lease Renewal in Addison, Texas

by Taylor Williams March 3, 2023

ADDISON, TEXAS — Holt Lunsford Commercial has negotiated a 20,891-square-foot office lease renewal in the northern Dallas suburb of Addison. Foundation Energy Management, which acquires, develops and enhances domestic oil and gas properties, is recommitting to Liberty Plaza, a two-building, 218,934-square-foot complex. Tyler Howarth of Holt Lunsford represented the landlord, Franklin Street Properties Corp., in the lease negotiations. The tenant representative was not disclosed

March 3, 2023

Leasing Activity Retail Texas

Activate Games to Open 9,600 SF Entertainment Venue in Katy, Texas

by Taylor Williams March 3, 2023

KATY, TEXAS — Activate Games, a retail concept that features tech-based physical and mental interactive competition, will open a 9,600-square-foot entertainment center in the western Houston suburb of Katy. The location at Katy Fry Center will be the fourth in the country for Activate Games, which also plans to open a center in Dallas later this year. Michael Burgower and Eric Lestin of Cushman & Wakefield represented the tenant in the lease negotiations. Dianne Rummage of SClay Management Inc. represented the landlord.

March 3, 2023

Acquisitions Industrial Lee & Associates New Jersey Northeast

BlackRock Realty Advisors Buys Industrial Facility in Piscataway, New Jersey for $80M

by Taylor Williams March 3, 2023

PISCATAWAY, N.J. — BlackRock Realty Advisors has purchased 330 S. Randolphville Road, an approximately 300,000-square-foot industrial facility in the Northern New Jersey community of Piscataway, for $80 million. According to LoopNet Inc., the property was built on 7.9 acres in 1969, renovated in 2021 and features a clear height of 36 feet. At the time of sale, the facility was fully leased to General Plumbing Supply. Matthew Schnurr of Lee & Associates represented BlackRock Realty Advisors in the transaction. The seller was not disclosed.

March 3, 2023

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