Property Type

Jupiter Holdings Unveils Plans for 702,147 SF Industrial Center in Menifee, California

by Amy Works May 19, 2021

MENIFEE, CALIF. — Newport Beach, Calif.-based Jupiter Holdings has released plans for Scott Road Commerce Center, an industrial center located at 33380 Zeiders Road in Menifee. Totaling 702,147 square feet on 40.5 acres, Scott Road Commerce Center will include one existing, fully leased industrial building and four to-be-constructed buildings. The first phase of construction includes buildings one and two, with an estimated groundbreaking on building two in August 2021 for completion in mid-2022. The second phase will include buildings three, four and five with a tentative groundbreaking in early 2022 and completion slated for year-end 2022. The completed complex will offer buildings ranging from 73,000 square feet to 230,000 square feet. Tucker Hohenstein, Steve Bellitti and Joey Jones of Colliers International, in partnership with Gordon Mize of Lee & Associates, will handle marketing efforts for the development.

May 19, 2021

Acquisitions California Office Western

Harvest Properties, Cerberbus Capital Sell 385,000 SF Office Building in Daly City, California

by Amy Works May 19, 2021

DALY CITY, CALIF. — Harvest Properties and an affiliate of Cerberus Capital Management have completed the disposition of DC Station, a Class A office building located at 2001 Junipero Serra Blvd. in Daly City. The transaction also included an adjacent seven-level parking structure. Terms of the sale, including the name of the buyer and acquisition price, were not released. The sellers originally acquired the 385,000-square-foot property in April 2018 and implemented a leasing program that resulted in more than 90 percent occupancy by early 2020.

May 19, 2021

California Development Multifamily Retail Western

Cisterra to Develop 22-Story Retail, Residential Tower in San Diego with Target as Anchor Tenant

by Amy Works May 19, 2021

SAN DIEGO — San Diego-based Cisterra Development is developing Radian, a planned 255,000-square-foot retail and residential high-rise tower in the Ballpark District of San Diego’s East Village neighborhood. Located along G Street between 9th and 10th avenues, the 22-story tower will feature 241 apartments and ground-floor retail space, which a 36,000-square-foot Target will occupy. Residential amenities will include an indoor/outdoor fitness center, game room, event/dining room, business center/lounge, dog park/wash, outdoor theater and a rooftop pool/hot tub area with views of Petco Park, the Pacific Ocean, San Diego Bay and Coronado. Project partners include San Diego-based Carrier Johnston + CULTURE as building architect, Gensler for interior design and Swinerton as the general contractor. ACORE Capital provided construction financing, which CBRE procured, while Berkadia arranged a private family office as a joint-venture partner. The Koman Group and Wermers Properties are also joint-venture partners on the project.

May 19, 2021

Acquisitions Multifamily Texas

Wildhorn Capital Sells 388-Unit Multifamily Portfolio in San Antonio

by Taylor Williams May 19, 2021

SAN ANTONIO — Wildhorn Capital, an Austin-based multifamily investment firm, has sold a 388-unit portfolio in San Antonio. The portfolio consists of two properties, The Blair at Bitters and The Henry B, both of which were 97 percent occupied at the time of sale. Both properties feature one- and two-bedroom units and amenities such as pools, fitness centers, business centers, tennis courts, clubhouses and playgrounds. The buyer was Dallas-based private equity firm Kanesville Capital. Matt Michelson of Newmark represented Wildhorn Capital in the off-market transaction.

May 19, 2021

Acquisitions Colorado Net Lease Retail Western

Marcus & Millichap Arranges $6.3M Sale-Leaseback of Kum & Go-Occupied Property in Colorado Springs

by Amy Works May 19, 2021

COLORADO SPRINGS, COLO. — Marcus & Millichap has arranged the sale of a retail property located at Spectrum Loop in Colorado Springs. A limited liability company acquired the asset for $6.3 million. Kum & Go gas station and convenience store occupies the 5,620-square-foot property on a net lease. The building is adjacent to a 4 million-square-foot Amazon distribution center, which was built in 2021. Brian Bailey and Drew Isaac of Marcus & Millichap’s Denver office represented the buyer in the deal. The name of the seller was not released.

May 19, 2021

California Industrial Leasing Activity Western

IDC Leases 354,810 SF Industrial Facility in Inland Empire

by Amy Works May 19, 2021

PERRIS, CALIF. — IDC has inked a deal to occupy an industrial building located at 251 Rider St. in Perris. WPT Industrial REIT, a Canadian real estate investment trust, is the landlord. The newly constructed, 354,810-square-foot facility features 185 parking stalls, 65 trailer stalls and 47 dock-high loading doors. The property is situated near the 60 and 215 freeways. Mark Zorn and Cory Whitman of Colliers International represented the landlord in the deal.

May 19, 2021

Acquisitions Industrial Self-Storage Texas

Pegasus Group Acquires 575-Unit Self-Storage Facility in South Austin

by Taylor Williams May 19, 2021

AUSTIN, TEXAS — New York City-based investment firm The Pegasus Group has acquired All Stor South Congress, a 575-unit self-storage facility in South Austin. The property opened in July 2018 and consists of 298 climate-controlled and 227 non-climate-controlled drive-up units, in addition to four parking spaces for rent. Brian Somoza and Steve Mellon of JLL represented the seller, an affiliate of locally based development firm Endeavor Real Estate Group, in the transaction. Pegasus Group will manage the property under its Central Self Storage flag.

May 19, 2021

Acquisitions Multifamily Seniors Housing Texas

SLIB Arranges Sale of 108-Bed Windsor Rehabilitation Center in Terrell, Texas

by Taylor Williams May 19, 2021

TERRELL, TEXAS — Senior Living Investment Brokerage (SLIB) has arranged the sale of Windsor Rehabilitation & Health Care Center, a 108-bed skilled nursing facility in Terrell, approximately 30 miles east of Dallas. The 41,140-square-foot property was built on 5.2 acres in 1994. The property was the sole Texas community for the seller, an unnamed regional company. The buyer was a national seniors housing owner-operator with a large portfolio in the state. The price was also not disclosed.

May 19, 2021

Acquisitions Retail Texas

SHOP Cos. Negotiates Sale of 30,697 SF Shops at Stonebrook in Frisco

by Taylor Williams May 19, 2021

FRISCO, TEXAS — SHOP Cos., a retail investment sales brokerage firm, has negotiated the sale of Shops at Stonebrook, a 30,697-square-foot center in Frisco. Built in 2017, the property houses tenants such as Ellie K Salon, Aura Nail Bar, The Salt Retreat, Pizzeria Alba, Maroc Hamam Spa and Fit Body Lab. The buyer and seller were not disclosed.

May 19, 2021

Burle-Business-Park-Lancaster-Pennsylvania

Acquisitions Industrial Northeast Office Pennsylvania

CBRE Negotiates Sale of 1.2 MSF Burle Business Park in Lancaster, Pennsylvania

by Taylor Williams May 19, 2021

LANCASTER, PA. — CBRE has negotiated the sale of Burle Business Park, a 1.2 million-square-foot office and industrial campus located in the eastern Pennsylvania city of Lancaster. The sales price was $30.2 million. The 75-acre property comprises 16 buildings that were 90 percent leased at the time of sale to more than 40 tenants across a variety of industries. Amenities include a cafeteria, café, a conference room and catering service. Bill Tourtellotte of CBRE represented the seller, BURLE Business Park LP, in the transaction. The buyer was Jersey Holdings.

May 19, 2021

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