Property Type

KeyBank Arranges $16.7M Acquisition Loan for Seniors Housing Community in Louisiana

by John Nelson June 29, 2016

COVINGTON, LA. — KeyBank Real Estate Capital has arranged a $16.7 million acquisition loan for The Trace at Claiborne Hill, a 94-unit seniors housing community in Covington, located across Lake Pontchartrain from New Orleans. Built in 2009, the property features independent living and assisted living services, as well as a 24-unit, secured memory care building that was added to the property in 2014. Carolyn Nazdin of KeyBank arranged the 10-year, non-recourse, fixed-rate loan through Freddie Mac.

June 29, 2016

California Multifamily Top Stories Western

City of Anaheim Approves $364M, 1,079-Unit Luxury Apartment Building Near Angel Stadium

by Jeff Shaw June 29, 2016

ANAHEIM, CALIF. — The mayor and city council of Anaheim have unanimously approved construction of Jefferson Stadium Park, a 17.9-acre development adjacent to Angel Stadium of Anaheim, home of Major League Baseball’s Los Angeles Angels. Multifamily developer JPI is building the $364 million project, which centers around a 1,079-unit luxury apartment community. The development also includes a 1.1-acre public park and 14,600 square feet of retail space. The company plans to break ground in December. Residents of Jefferson Stadium Park will have access to Anaheim’s Regional Transportation Intermodal Center (ARTIC). The development is one mile from the Downtown Disney Shopping District, Disneyland and California Adventure theme parks. Also nearby is the public marketplace of the Anaheim Packing District. This is the second project for JPI in Anaheim’s Platinum Triangle neighborhood. Currently under construction is the $120 million Jefferson Platinum Triangle, a 400-unit luxury apartment community scheduled for occupancy in the fall of 2017. “Anaheim’s Platinum Triangle is a model for development efforts that encourage new projects, enhancing quality living experiences for the community,” says Heidi Mather, senior vice president and development partner for JPI. “This new project only strengthens our commitment to be a part of the revitalization of this …

June 29, 2016

Market Reports New Jersey Northeast Northeast Market Reports Office

Pharmaceutical Sector Dominates Suburban New Jersey Relocation Activity

by Jaime Lackey June 29, 2016

By many measures, 2015 was Northern New Jersey’s best year for its office market in quite some time. Tenants leased 11.7 million square feet, the strongest annual activity since 2003. Business confidence improved and companies showed a growing willingness to invest in their workforce and workplace. The number of larger leases dropped off a bit in 2015, though, as many of the largest space searches were fulfilled and fewer quality space options remained in some of the most sought after areas. Tenants have no shortage of options in much of Morris County and Newark, but steady leasing in Metropark and Jersey City’s waterfront has pushed availability below 15 percent. Smaller and mid-sized tenants can still find space in these locations, but there are far fewer big blocks of quality space remaining. There were fewer larger leases in 2015, but tenants were very mobile: relocations outnumbered renewals by two to one with 12 firms opting to move and six renewing. An analysis of larger leases (deals over 40,000 square feet) signed since 2009 shows that larger tenants renewed slightly less than 50 percent of the time (81 firms moved and 75 renewed). From a supply perspective, market conditions have been ideal …

June 29, 2016

Colorado Multifamily Seniors Housing Western

Bethesda Senior Living Breaks Ground on $13M Seniors Housing Community in Colorado

by Nellie Day June 28, 2016

MONUMENT, COLO. — Bethesda Senior Living Communities, a Colorado Springs-based nonprofit developer and operator, has broken ground on Bethesda Gardens Monument, a 60-unit assisted living and memory care community in the Colorado Springs suburb of Monument. The $13 million development is the first ground-up construction for Bethesda in more than 15 years, and will be the first seniors housing community in Monument, according to the developer. Bethesda expects to complete construction in fall 2017. The architect on the Colorado project is Lantz-Boggio Architects of Denver. Brinkman Construction of Fort Collins will provide construction services, and Compass Bank of Denver provided financing. With the two new projects, Bethesda now operates 18 seniors housing communities in Arizona, Indiana, Nebraska, Missouri, Colorado and Texas.

June 28, 2016

California Retail Western

Colliers Brokers $3.8M Sale of Auto Dealership in Vista

by Nellie Day June 28, 2016

VISTA, CALIF. — Colliers International San Diego Region has arranged the sale of an auto dealership property located at 1100 E. Vista Way in Vista. AV Vista acquired the 33,000-square-foot property from Security Chevrolet Inc. for $3.8 million. The buyer plans to redevelop the property, which is situated on 4.5 acres. Kirk Allison, Vic Gausepohl, Tucker Hohenstein and Mike Erwin of Colliers represented the seller, while Bill Barnett and Doug Hogan, also of Colliers, represented the buyer in the deal.

June 28, 2016

California Retail Western

Progressive Real Estate Negotiates $2M Sale of Retail Center in Rancho Cucamonga

by Nellie Day June 28, 2016

RANCHO CUCAMONGA, CALIF. — Progressive Real Estate Partners has arranged the sale of a multi-tenant retail center located at 9199 Arrow Route in Rancho Cucamonga. A Florida-based private investor sold the property to an Ontario, Calif.-based private investor for $2 million. Built in 2005, the 17,324-square-foot center is occupied by Meineke Car Care Center, AA Smog Center and Elite One Auto Collision Center. At the time of sale, the property was 87 percent leased. Frank Vora of Progressive Real Estate Partners represented the seller, while Barrett Woods of Lee & Associates represented the buyer in the transaction.

June 28, 2016

Colorado Retail Western

CVS Pharmacy Opens First Locations in Colorado Target Stores

by Nellie Day June 28, 2016

DENVER — CVS Health has opened the first CVS Pharmacy locations in Target stores in Colorado. The pharmacies are located in several metropolitan areas, including Denver, Colorado Springs and Fort Collins, and are operated through a store-within-a-store format. With the addition of 39 rebranded CVS Pharmacy locations in Target stores, the company now has its first presence in the state.

June 28, 2016

California Retail Western

Hendrix Restaurant Joins Ocean Ranch Village in Laguna Niguel

by Nellie Day June 28, 2016

LAGUNA NIGUEL, CALIF. — Sentinel Restaurant & Hospitality Group is bringing its newest restaurant, Hendrix, to Ocean Ranch Village in Laguna Niguel. Located at 32431 Street of the Golden Lantern, the restaurant will offer flavors from a variety of American cooking techniques.

June 28, 2016

Mixed-Use Multifamily Retail Texas

Marcus & Millichap Arranges Sale of 18-Story Residential High-Rise in Downtown Fort Worth

by Katie Sloan June 28, 2016

FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of the Historic Electric Building Apartments, an 18-story high-rise development located at 410 W. 7th St. in downtown Fort Worth. The property features 106 loft-style apartment residences and 10,000 square feet of ground-level retail space. Listed on the National Register of Historic Places, the property was built in 1928 and converted to apartments and retail in 1994. The asset is located within walking distance of Burnett Park, the Fort Worth Convention Center and Sundance Square. John Barker of Marcus & Millichap’s Fort Worth office represented the seller and procured the buyer, both limited liability companies.

June 28, 2016

Mixed-Use Multifamily Retail Texas

High Street Residential, Northwestern Mutual Top Out Knox Heights Mixed-Use Development in Dallas

by Katie Sloan June 28, 2016

DALLAS — High Street Residential, in partnership with Northwestern Mutual Real Estate, has topped out Knox Heights, a six-story mixed-use development located along McKinney Avenue in Dallas. The project will feature 13,500 square feet of ground-floor retail, 182 luxury residential units, a 2,400-square-foot fitness facility and lounge, a 4,500-square-foot amenity deck and pool, and a three-level, 363-space subterranean parking garage. Construction on the Class A development is scheduled for completion in early 2017. Andres Construction Services serves as the general contractor for the development, and Good Fulton & Farrell is the project’s architect.

June 28, 2016

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