Property Type

MSquared Receives Funding for $54M Mixed-Income Apartment Project in Lynnwood, Washington

by Jeff Shaw March 23, 2023

LYNNWOOD, WASH. — MSquared has received $54 million in funding for Kōz on Alderwood, a 200-unit apartment development in the Seattle suburb of Lynnwood. Kōz Development is partnering with MSquared on the mixed-income, transit-oriented development. The project is being financed by $35 million in debt from Coastal Community Bank, $13 million in equity from MSquared and $6 million in equity from Kōz Development investors. Construction of Kōz on Alderwood is scheduled to begin in spring 2023, with a planned completion date of early winter 2025.

March 23, 2023

Acquisitions Arizona Healthcare Western

Montecito Buys Banner Health Center in Peoria, Arizona for $29M

by Jeff Shaw March 23, 2023

PEORIA, ARIZ. — Montecito Medical Real Estate has acquired Banner Health Center Peoria, a fully leased, 68,000-square-foot medical building in Peoria, for $29 million. The three-story medical office building features a multi-specialty ambulatory surgery center with three operating rooms, advanced imaging, and primary and specialty care. It is leased on a single-tenant basis to Banner Health. The center is a key outpatient location for Banner Health, serving its patients in the northwest Phoenix metro area. It is less than two miles from the 410-bed Banner Boswell Medical Center. JLL represented the seller, Banner Health, in this transaction. The JLL Healthcare Capital Markets Advisory team consisted of Mindy Berman, Matt Dicesare and John Chun, along with Phoenix market leader Pat Williams.

March 23, 2023

Acquisitions Arizona Industrial Western

CapRock Partners Purchases 130,800 SF Industrial Warehouse in Phoenix

by Jeff Shaw March 23, 2023

PHOENIX — CapRock Partners has purchased a 130,800-square-foot, Class A industrial building in Phoenix for an undisclosed sum. The industrial warehouse facility is located at 5810 W. Buckeye Road in the Loop 202 corridor in the southwest portion of the city. The space is pre-leased to Metrie, North America’s largest manufacturer and supplier of solid wood and composite moulding. Construction on the new industrial building was completed in the first quarter of this year, with Metrie set to take occupancy in the second quarter. Don and Payson MacWilliam of Colliers International is assisting CapRock Partners with the marketing of 5810 W. Buckeye Road. Mark Seale of Avison Young represented Metrie Inc.

March 23, 2023

Acquisitions California Retail Western

Hanley Brokers $2.3M Sale of Single-Tenant Retail Property in Fontana, California

by Jeff Shaw March 23, 2023

FONTANA, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the $2.3 million sale of a single-tenant retail property in Fontana. Dutch Bros Coffee occupies the newly constructed, 871-square-foot property, which is situated within Highland Village Shopping Center, on a triple-net-lease basis. Kevin Fryman, Bill Asher and Jeff Lefko of Hanley represented the seller, Adler Realty Investments, in the transaction. Jeremy McChesney of Hanley represented the buyer, a private investor.

March 23, 2023

Leasing Activity Retail Washington Western

Seven Tenants Sign Leases at Vancouver Mall in Washington

by Jeff Shaw March 23, 2023

VANCOUVER, WASH. — Seven new tenants have signed leases at Vancouver Mall, a shopping center located in Vancouver, just across the Columbia River from Portland, Oregon. Twisted Escape Rooms, Paliy Construction, Mariya’s Touch Boutique and Luxury African Braids have already opened spaces at the property. Lo’u Seie and Quick Bites Deli Shop will open in April of this year, with Smack Town scheduled to join the tenant lineup in May.

March 23, 2023

Leasing Activity Retail Texas

Nordstrom Rack to Open 34,966 SF Store at Northwoods Shopping Center in San Antonio

by Taylor Williams March 23, 2023

SAN ANTONIO — Nordstrom Rack will open a 34,966-square-foot store at Northwoods Shopping Center in San Antonio. Owned by Los Angeles-based CIM Group, the 443,148-square-foot power center is located at the intersection of U.S. Highway 281 and Loop 1604 on the city’s north side. Other retailers at Northwoods Shopping Center include grocer H-E-B, Barnes & Noble, Marshall’s, Ulta Beauty and Old Navy. The opening of Nordstrom Rack is scheduled for September.

March 23, 2023

Industrial Leasing Activity Texas

Holt Lunsford Negotiates 5,400 SF Industrial Lease in Fort Worth

by Taylor Williams March 23, 2023

FORT WORTH, TEXAS — Holt Lunsford Commercial has negotiated a 5,400-square-foot industrial lease at Riverbend Business Park in Fort Worth. The property consists of 32 buildings totaling roughly 1.4 million square feet. William Wilson and George Jennings of Holt Lunsford represented the landlord, Riverbend Properties, in the lease negotiations. The representative of the tenant, Tarrant Appraisal District, was not disclosed.

March 23, 2023

Development Healthcare Massachusetts Northeast

Seaman DiCarlo Completes Renovation Project at 229-Bed Hospital in Winchester, Massachusetts

by Taylor Williams March 23, 2023

WINCHESTER, MASS. — General contractor Seaman DiCarlo has completed the renovation of the radiology oncology department at Winchester Hospital, a 229-bed facility located on the northwestern outskirts of Boston. The hospital is part of the Beth Israel Lahey healthcare system. Locally based design firm Margulies Perruzzi served as the project architect and has now completed 28 collaborations with Beth Israel Lahey, including eight at Winchester Hospital.

March 23, 2023

Development Industrial North Carolina Southeast

Collett Industrial to Develop 693,020 SF Northside 77 Business Park in Troutman, North Carolina

by John Nelson March 23, 2023

TROUTMAN, N.C. — Collett Industrial plans to develop Northside 77, a three-building industrial park in the northern Charlotte suburb of Troutman. Situated along I-77, the park will comprise Building 1 (217,620 square feet), Building 2 (340,200 square feet) and Building 3 (135,200 square feet). Collett Industrial has tapped Grant Miller and Phoebe Dinga of Colliers’ Charlotte office to handle the leasing assignment for the project. The Charlotte-based developer plans to break ground in the third quarter and deliver the park in the second half of 2024. Colliers’ Charlotte office is also the leasing agent for Collett’s Airport 85 Business Center industrial park in Charlotte.

March 23, 2023

Development Multifamily New Jersey Northeast

Fields Grade, Slokker Group Begin Leasing 109-Unit Apartment Building in Rahway, New Jersey

by Taylor Williams March 23, 2023

RAHWAY, N.J. — A partnership between developers Fields Grade and The Slokker Group has begun leasing a 109-unit apartment building in the Northern New Jersey community of Rahway. The building is the second at The Mint, a development in the downtown area, the first phase of which consisted of 116 units that were completed in 2020. The new building rises six stories and offers studio, one- and two-bedroom units, as well as Class A amenities. Rents start at $2,095 per month for a studio apartment.

March 23, 2023

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