Property Type

Sunset Development Opens 300,000 SF Shopping Center in San Ramon, California

by Amy Works November 9, 2018

SAN RAMON, CALIF. — Sunset Development Co. has opened City Center Bishop Ranch, a shopping, dining, entertainment and community development located in San Ramon’s Bishop Ranch area. Designed by Renzo Piano Building Workshop and BAR Architects, the 300,000-square-foot regional shopping center will feature 70 stores and restaurants at full occupancy. THE LOT, a 10-screen cinema and dining destination, and Equinox San Ramon, a whole-body personal fitness, training and yoga center, anchor the property. The second location of The Slanted Door, a Vietnamese-inspired eatery, occupies a freestanding, all-glass structure at the center. Currently open tenants include AlysGrace, Boba Guys, Candle Delirium, Fieldwork Brewing Co., M by Maggie Rizer, NEEKO, On the EDGE, Pottery Barn, Starbucks Coffee, West Elm and Williams-Sonoma. Stores slated to open in the coming months include Anthropologie, Athleta, Equinox San Ramon, Heller Jewelers, KIN THE LABEL and Monokrome. Signed restaurants include C CASA, Curry Up Now, Delarosa, Gio Gelati, Joe & The Juice, Mendocino Farms, MIXT, Ramen Hiroshi, Roam, SOCIAL-AFFAIR, THE LOT and The Slanted Door. Sunset Development Co. owns and operates the property.

November 9, 2018

Acquisitions California Retail Western

Phillips Edison Acquires 80,259 SF Value-Add Retail Center in Southern California

by Amy Works November 9, 2018

MURRIETA, CALIF. — Phillips Edison & Co. has purchased Sierra Vista Plaza, a value-add retail center located at 25030-25100 Hancock St. in Murrieta, for an undisclosed price. Stater Bros., CVS/pharmacy, Chuck E. Cheese, Valley Veterinary Clinic, The UPS Store, Pizza Hut and Jack in the Box are tenants at the 80,259-square-foot property. Bryan Ley, Gleb Lvovich, Justin Kundrak and Tony Ensbury of HFF represented the undisclosed seller in the deal.

November 9, 2018

Arizona Development Healthcare Office Western

MedProperties Breaks Ground on 56,000 SF Medical Office Building in Gilbert, Arizona

by Amy Works November 9, 2018

GILBERT, ARIZ. — Chicago-based MedProperties Group has broken ground on Mercy Medical Commons II, a medical office building located on Mercy Road adjacent to the main entrance of Dignity Mercy Gilbert Medical Center in Gilbert. Designed by Ware Malcomb, the three-story, 56,000-square-foot building will feature a 55-foot high-curved fin wall with integrated steel shade canopies, while the western curved façade will open to parking and a porte-cochere arrival area. The CORE Institute will occupy 20,000 square feet of the property, which is slated for completion in third-quarter 2019. Balfour Beatty US is serving as general contractor for the property. Philip Wurth of Colliers International in Greater Phoenix is serving as the leasing agent for the development, which is MedProperties’ first ground-up development in the East Valley area.

November 9, 2018

Acquisitions California Retail Western

IREA Brokers $9.7M Sale of Retail Property in Northridge, California Leased to Petco

by Amy Works November 9, 2018

NORTHRIDGE, CALIF. — Investment Real Estate Associates (IREA) has negotiated the sale of a retail property located at 8800 Tampa Ave. in Northridge. A private individual acquired the property for $9.7 million as part of a 1031 exchange. Petco has occupied the 14,280-square-foot property, which is an outparcel to Costco and adjacent to In-N-Out Burger, since March 2004. Clark Everitt, William Everitt and Jonathan Krikorian of IREA represented the buyer in the deal. The name of the seller was not released.

November 9, 2018

Acquisitions California Industrial Western

Surfside Industries Sells Six-Building Industrial Property in Port Hueneme, California for $5.1M

by Amy Works November 9, 2018

PORT HUENEME, CALIF. — Surfside Industries LLC has completed the sale of a six-building industrial asset located at 250-278 S. Surfside Drive in Port Hueneme. James Mesa acquired the investment property for $5.1 million. Currently operated as a multi-tenant industrial and RV park, the property is M-1 zoned for manufacturing, processing and distribution use. Chris Roth and Rusty Williams of Lee & Associates Commercial Real Estate Services – North San Diego County, along with John Ochoa of Lee & Associates Ventura, represented the seller. Ventura, Calif.-based The Becker Group represented the buyer in the deal.

November 9, 2018

Loans Multifamily Seniors Housing Texas

KeyBank Provides $105.8M HUD Loan for Skilled Nursing Portfolio in Texas

by Taylor Williams November 9, 2018

CLEVELAND — Cleveland-based KeyBank Real Estate Capital has provided a $105.8 million HUD loan for 16 skilled nursing facilities located throughout Texas. The financing was used to fund the acquisition of 12 properties and to refinance four other properties. The portfolio totals 1,924 beds. Grant Saunders and Peter Trazzera of KeyBank originated the loan on behalf of the borrower, a joint venture between Capital Senior Ventures and BlueMountain Capital Management.

November 9, 2018

Development Hospitality Texas

Northland Properties Opens 233-Room Sandman Hotel in Metro Dallas

by Taylor Williams November 9, 2018

PLANO, TEXAS — Northland Properties Corp., a Canadian firm that owns hotel chains, restaurants and sports teams, has opened Sandman Signature Plano-Frisco, a 233-room hotel located on the northern outskirts of Dallas. The property is situated near Dr. Pepper Arena, home of the Dallas Stars hockey team, as well as The Star, the Dallas Cowboys’ headquarters in Frisco. The hotel’s amenities include a pool, fitness center and multiple onsite bars and restaurants.

November 9, 2018

Development Office Texas

AQUILA to Develop 63,297 SF Office Property in Metro Austin

by Taylor Williams November 9, 2018

CEDAR PARK, TEXAS — AQUILA Commercial will develop Cross Creek Landing, a 63,297-square-foot office project that will be located in the northern Austin metro of Cedar Park. The three-story building will be situated near The Grove mixed-use development and will offer onsite showers and a 5:1 parking ratio. Austin-based Runa Workshop is designing the project, which is slated for an early 2020 delivery. AQUILA will also handle leasing of Cross Creek Landing.

November 9, 2018

Acquisitions Retail Texas

CBRE Arranges $11M Sale Retail Property Leased to Floor & Décor in Oklahoma City

by Taylor Williams November 9, 2018

OKLAHOMA CITY — CBRE has arranged the $11 million sale of a 75,115-square-foot retail property leased to Floor & Décor in Oklahoma City. The newly built, freestanding building is located within the newest phase of Westgate Marketplace at the crossing of Interstate 40 and South MacArthur Boulevard. Local real estate firm Zerby Interests sold the property to Phoenix-based VEREIT Acquisitions LLC. Jason Little and Justin Brannon of CBRE brokered the transaction.

November 9, 2018

Loans Office Texas

Pearlmark Originates $4.5M Mezzanine Loan for Office Building in San Antonio

by Taylor Williams November 9, 2018

SAN ANTONIO — Chicago-based Pearlmark Real Estate Partners has originated a $4.5 million mezzanine loan for McAllister Plaza, a 190,511-square-foot office building in San Antonio. The proceeds will be used to finance tenant improvements and leasing commissions. The 12-story property is located near San Antonio International Airport and the Loop 410/Highway 281 interchange. The borrower was not disclosed.

November 9, 2018

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