ROSEMEAD, CALIF. — Walker & Dunlop has arranged a $46 million loan for refinancing for a retail center in the Southern California city of Rosemead. Trevor Fase and Lynn Pearson of Walker & Dunlop Capital Markets Real Estate Finance team secured the fixed-rate, interest-only permanent debt loan. Joel Minugh and James Ko of Wells Fargo provided the loan for the borrower, a family office. Located on Rosemead Boulevard, Rosemead Place features 336,718 square feet of retail space. Current tenants include Target, LA Fitness, Ross Dress for Less, PetSmart, ULTA Beauty and Dollar Tree.
GILBERT, ARIZ. — SunCap Property Group and Inclenberg Investments have broken ground on the final building at Gilbert Spectrum Business Park, an eight-building master-planned development a decade in the making. Slated for completion in second quarter 2027, the building will feature 101,000 square feet of speculative industrial space. Graycor is serving as general contractor for the building, with Lee & Associates Arizona handling leasing efforts for for the property. The project team includes Balmer Architectural Group and Bowman as civil engineer.
TEMPE, ARIZ. — Stos Partners has bought an industrial warehouse, located at 525 S. McClintock Drive in Tempe, from a private owner for $5.7 million. Situated on 2.6 acres, the property offers 40,023 square feet of industrial space. Built in 1975, the building features 14-foot clear heights, six grade-level loading doors, approximately 6,000 square feet of office space, HVAC throughout the warehouse and offices areas and more than 1,000 amps of power. Originally developed as a six-tenant industrial building, the property was most recently occupied by a single user. Stos Partners plans to implement a comprehensive renovation program to transform the Class B asset into a modern multi-tenant industrial facility designed to serve a range of small-bay warehouse users. Upon completion of renovations, the building will offer five to six suites ranging from 5,000 square feet to 12,500 square feet. Planned improvements will include construction of new speculative office space, reconfiguration of the warehouse into multiple tenant suites, upgrades to the parking lot, building façade and landscaping, warehouse enhancements, installations of new white scrim, HVAC replacements, roof resurfacing and new property signage. Jack Tate and Payton Kruidenier of Ross Brown Partners represented the buyer and seller in the transaction.
IRVINE, CALIF. — C&C Development, in partnership with Riverside Charitable Corp., has opened Cartwright Family Apartments, an affordable housing community in Irvine. Situated on 1.6 acres at 17861 Cartwright Road, the property features 60 apartments for households earning between 30 and 80 percent of the Orange County, Calif., area median income, with a portion of the units designated for veterans. Additionally, Cartwright Family Apartments includes a leasing presence for current Irvine residents or persons employed by the city. Designed by KTGY, Cartwright Family Apartments consists of four single-story residential buildings with 15 one-bedroom, 17 two-bedroom and 28 three-bedroom units with private balconies. Community amenities include a courtyard with pool, barbecue pavilion, tot lot, bike storage, community room with a kitchen, computer room, laundry room, leasing office and a supportive services manager office. At its opening, the property was 100 percent leased.
— By Hillary Steinberg of Avison Young — The Las Vegas retail market delivered a mixed but resilient performance in 2025, with vacancy remaining tight and demand holding steady. Vacancy closed the year at 5.6 percent with nearly 5.6 million square feet of available space. While these fundamentals reflect a healthy market, rent growth softened, increasing by just 2.4 percent year over year. At the same time, development activity remains robust, with roughly 880,000 square feet of retail space currently under construction. New projects continue to emphasize mixed-use and experiential concepts, positioning the market to capture sidelined capital and evolving consumer demand in the year ahead. Vacancy held steady at 5.6 percent in fourth-quarter 2025, supported by sustained population growth, a continued rebound in tourism and stable consumer spending. This momentum is being reinforced by Las Vegas’ economic diversification, which continues to fuel expansion across food, wellness and entertainment retail segments. Although rent growth has moderated from its 2022 peak, leasing fundamentals remain strong. Limited availability continues to favor landlords, who are maintaining pricing power and offering minimal concessions. However, rising construction and tenant improvement costs are placing upward pressure on deal economics. With inventory across Las Vegas, North Las …
EUGENE, ORE. — Walker & Dunlop has arranged $128.2 million loan for the refinancing of a four-property multifamily portfolio in Eugene. Steven Natale of Walker & Dunlop Capital Markets Real Estate Finance secured the financing on behalf of an undisclosed local client. Utilizing Fannie Mae’s Streamline Early Rate Lock program, the four loans were rate locked only 25 days after receipt of a signed application. Totaling 986 units, the portfolio includes the 280-unit River Terrace, the 254-unit Parkside, the 252-unit The Bailey at Amazon Creek and the 200-unit Crescent Park.
EVERETT, WASH. — Mesa West Capital has funded an $82.5 million first mortgage loan to a joint venture between Harrison Street Asset Management and Security Properties to refinance Olin Fields, a garden-style multifamily property in Everett. Josh Westerberg and JJ McMahon of Mesa West Capital led the transaction for Mesa West. Jesse Weber, Scott Williams and Kevin Coyle of CBRE’s San Francisco office arranged the five-year, nonrecourse financing for the borrower. Built on 16 acres, Olin Fields features 352 one-, two- and three-bedroom apartments spread across 21 residential buildings. Units feature in-unit washers and dryers, stainless steel appliances, digital thermostats, quartz countertops, wood burning fireplaces and private patios in select units. Community amenities include a fitness center, indoor basketball court, indoor and outdoor pools, outdoor lounge with fire pits and barbecue stations, a dog park, playground and 24-hour package lockers. Since acquiring the asset in 2022, the sponsor has invested in exterior improvements and renovations to 76 units. A portion of the loan proceeds will be used to complete the remaining interior upgrades.
OREGON CITY, ORE. — Dwight Capital, on behalf of Pahlisch Commercial, has provided a $39 million HUD loan for the refinancing of Timberview Apartments in Oregon City. Andrew Tichy led the transaction for Dwight Capital, which McBride Capital arranging the debt. Loan proceeds, which were secured through HUD’s 223(f) program, will be used to retire a bridge loan provided by Dwight Mortgage Trust, cover closing costs and establish a replacement reserve account for future capital improvements. Situated on 7 acres, Timberview Apartments features 174 units. The community consists of three buildings with 141 single-story units and seven buildings with 33 townhome units and attached single-car garages. Units feature stainless steel appliances, quartz countertops, full-size washers and dryers and private patios or balconies. Onsite amenities include a single-story clubhouse with a leasing office, six detached garage buildings, pool with a sundeck, fitness center, resident lounge with a fireplace, bike repair and wash station, dog wash and a playground.
SAN MARCOS, CALIF. — CBRE has negotiated the $14.5 million sale of an industrial property located in the Southern California city of San Marcos. An entity doing business as La Costa Meadows LLC sold the asset, located at 1755 La Costa Meadows Drive, to a private, 1031 exchange investor. Matt Pourcho, Anthony DeLorenzo and Rob Gunness of CBRE represented the seller in the transaction., while Michael Albert of Pacifica Capital and Kelly Betpolice of Kidder Mathews represented the buyer. Fluid Components International (FCI) fully occupies the 66,976-square-foot property. The company utilizes the property as its primary U.S. manufacturing facility and has occupied the asset since its construction in 1981.
TEMECULA, CALIF. — CBRE has brokered the $13.5 million sale of a three-building industrial park located at 40880, 40935 and 40945 County Center Drive in Temecula. Jewell Capital LLC acquired the property from South La Brea LCC. Totaling 68,073 square feet, the park consists of three single-story buildings across two separate parcels. At the time of sale, the asset was 97.4 percent leased to multiple tenants with an average tenant size of approximately 3,012 square feet and “ample” grade-level parking. Matt Pourcho, Matt Harris and Anthony DeLorenzo of CBRE represented the seller in the transaction.
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