SPARKS, NEV. — Irvine, Calif.-based Bendetti and Singerman Real Estate have completed a $71 million off-market recapitalization of an industrial portfolio in Sparks. Known as Southern Way Industrial, the portfolio includes three single- and multi-tenant buildings totaling more than 635,000 square feet. Spread across a 21-acre site, the buildings feature clear heights ranging from 18 feet to 28 feet. At the time of closing, the portfolio was 54 percent occupied.
LOS ANGELES — Nuveen Real Estate has completed the disposition of San Regis, an apartment property in the Van Nuys neighborhood of Los Angeles. Terms of the transaction were not released. The five-building, gated community offers 390 apartments with breakfast bars and private patios or balconies. Renovated units have stainless steel appliances, quartz countertops, Shaker-style cabinets and updated plumbing and lighting fixtures. Community amenities include two levels of subterranean parking, a Junior Olympic-sized swimming pool, three pickleball courts and a modernized fitness center. Kevin Green, Joseph Grabiec and Gregory Harris of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller in the deal.
LAS VEGAS — Brixton Capital has purchased Las Palmas Village, a shopping center at 445 E. Windmill Lane in Las Vegas, from Australia-based Cop Group for $29.4 million in an off-market transaction. Las Palmas Village features 106,838 square feet of grocery-anchored retail space that was 95 percent occupied at the time of sale. Current tenants include Vons, Starbucks Coffee, Wells Fargo, Pizza Hut, The UPS Store and Taco Bell. Brixton plans to implement a comprehensive capital improvement program to position the property for long-term institutional-quality performance. Planned improvements include landscaping, painting, roof repairs, HVAC and parking lot resurfacing upgrades. Dan Tyner, Gleb Lvovich and Geoff Tranchina of JLL represented the seller, while Brixton was self-represented in the transaction. Previously, Brixton owned Decatur 215, a 126,678-square-foot shopping center in Las Vegas, which it sold in 2023. The acquisition of Las Palmas Village marks the company’s return to the Las Vegas market.
CHANDLER, ARIZ. — IndiCap and VAC Development have partnered with Mar-Gulf Management, the international real estate subsidiary of Kuwait Financial Centre K.P.S.C., and MDI Capital, the subsidiary of of Mar-Gulf, to break ground on Chandler Bay, a Class A, shallow-bay industrial project in Chandler. Located at 1820 E. Germann Road, the 110,481-square-foot facility will feature a clear height of 28 feet and column spacing of 50-foot by 56-foot and 60-foot by 56-foot. The multi-tenant property will offer 12 truck well dock doors, 15 grade-level drive-in doors and 5,000 amps power capacity. Additionally, the building will include an ESFR sprinkler system with electric pump, 120-foot to 145-foot truck court depths and parking for 221 vehicles. Tenant suites will be designed around 9,000-square-foot bay sizes with three speculative office suites ranging from approximately 1,700 square feet to 2,200 square feet delivered during shell construction. Each suite will include expandable 400-amp power service, LED warehouse lighting and fully air-conditioned warehouse space. Once completed in December 2026, Chandler Bay is expected to be the only shallow-bay industrial project in the area capable of accommodating tenants seeking approximately 17,000 square feet, according to the development team. The project team includes Berkeley Partners as senior lender, Deutsch …
VERNON AND PACOIMA, CALIF. — Gantry has secured a $40 million permanent loan to retire maturing debt on two cross-collateralized industrial buildings in Vernon and Pacoima, two active Los Angeles submarkets. Both buildings are fully occupied with different single-tenant occupiers. PODS occupies the first building, a 203,000-square-foot property located at 5370 Boyle Ave. in Vernon. The second asset, located at 10445 Glenoaks Blvd. in Pacoima, is a 95,000-square-foot building used as a sound stage facility as part of the Quixote studios campus. George Mitsanas, Bahman Mirhashemi and Keegan Bridges of Gantry represented the borrower, a privately held real estate joint venture managed by Xebec, a private real estate investor. The five-year, fixed-rate loan was secured from an insurance company lender and features full-term, interest-only payments.
NORTH LAS VEGAS, NEV. — Premier Logistics Properties, in partnership with PCCP, has acquired an infill, big box warehouse at 4550 Nexus Way in North Las Vegas. Terms of the off-market transaction were not disclosed. Developed in 2017 on 38.2 acres, the 813,120-square-foot building features a clear height of 36 feet, full concrete truck courts and ample employee parking and trailer storage. Amazon fully occupies the property.
AVONDALE, ARIZ. — Creation, in partnership with a real estate fund advised by Crow Holdings Capital, has closed on a 38-acre site in Avondale for the development of Avondale Tech Center, a Class A industrial campus. Construction is slated to begin this summer. LGE Design Build will serve as both architect and general contractor for the project. Riley Gilbert, John Lydon and Kelly Royle of JLL will handle leasing for the asset. Located at the northwest corner of 117th Avenue and Corporate Drive, Avondale Tech Center will consist of three buildings ranging from 212,184 square feet to 254,264 square feet. Each building is designed to accommodate the operational needs of modern industrial users, including advanced manufacturing, research and development and assembly operations. The buildings will feature 36-foot clear heights, seven-inch unreinforced slab floors, 60 mil white TPO roofing with R30 insulation and 3,000-amp, 480-volt three-phase power expandable to 6,000 amps. The properties will incorporate critical FM Global features, including a steel roof and an upgraded K-25 ESFR sprinkler system. The campus will also include four electric vehicle chargers with eight charging stalls per building and a fully gated secure site. Avondale Tech Center will offer tenant-focused outdoor amenities, including dedicated …
POMONA, CALIF. — Progressive Real Estate Partners has arranged the sale of The Armstrong Building, a historic mixed-use property at 150-196 E. Third St. and 345 S. Locust St. in Pomona. Western University of Health Sciences, a private medical university, acquired the asset from a Los Angeles-based private investor for $2.9 million. The 27,980-square-foot building features seven ground-level commercial units and eight residential lofts. Western University of Health Sciences will utilize the building as an extension of its campus, expanding the university’s footprint in downtown Pomona. Roxy Klein and Greg Bedell of Progressive Real Estate Partners represented the seller in the deal.
SEATTLE — Cushman & Wakefield has arranged $53 million in refinancing for 110 Roy Street, an apartment property in Seattle. Dave Karson, Chris Moyer, Alex Lapidus and Zarif Hasan of Cushman & Wakefield represented the borrower, Low Tide Properties, in securing the five-year financing, provided by Northwestern Mutual. Situated in Seattle’s Queen Anne neighborhood, 110 Roy Street features 167 studio, one- and two-bedroom apartments. Community amenities include a rooftop terrace, 24-hour fitness studio, pet spa and a resident lounge. Additionally, the property features 6,700 square feet of ground-floor retail space along Roy Street. The asset was developed by Continental Properties in partnership with Low Tide Properties.
LAS VEGAS — Lucescu Realty has arranged the sale of Peccole Plaza, a shopping center in Las Vegas. Peccole Enterprises sold the asset to a privately held, Las Vegas-based development and investment company for $38.6 million. Peccole Plaza features 161,978 square feet of gross leasable area that is fully leased to a variety of tenants. Current tenants include Kohl’s, Guitar Center, Golf Galaxy, Walgreens, Jack in the Box, Dotty’s, Green Valley Grocery and Desert Orthopaedic. Mark Lucescu and Tanner Englelage of Lucescu Realty were the sole brokers for the transaction. The Lucescu Realty team represented the seller and procured the buyer in the the deal.
