Western

CBRE Secures $45.6M in Acquisition Financing for Coral Point Apartments in Mesa, Arizona

by Amy Works November 7, 2025

MESA, ARIZ. — CBRE has arranged $45.6 million in financing on behalf of InTrust Property Group for the acquisition and renovation of Coral Point Apartments in Mesa. Shaun Moothart, Doug Birrell, Bruce Francis, Bob Ybarra, Nick Santangelo, Anna Britt and Amber Coleman of CBRE secured the three-year, floating-rate loan, which features full-term interest-only payments and two extension options. Brightspire Capital was the lender. Situated on 15.9 acres, Coral Point comprises 24 two-story buildings offering a total of 377 apartments. Community amenities include three swimming pools, two spas, a clubhouse and business center, a fitness center, outdoor barbecue areas and a play area. The sponsor’s value-add strategy includes plans to install washers and dryers in every unit, refresh exteriors and activate amenities.

November 7, 2025

Acquisitions Arizona Multifamily Seniors Housing Western

DEM Purchases 55 Resort Scottsdale Active Adult Property in Arizona for $32.7M

by Amy Works November 7, 2025

SCOTTSDALE, ARIZ. — Los Angeles-based DEM Inc. has purchased 55 Resort Scottsdale, an active adult community in Scottsdale, from Dallas-based Velocis Edison McCormick JV LP for $32.7 million. Matt Roach, Chris Roach, Brad Cooke and Cindy Cooke of the Cooke Multifamily Team at Colliers handled the transaction. Located at 9449 N. 90th St. within the McCormick Ranch master-planned community, the three-story 55 Resort Scottsdale offers 102 core active adult units averaging 671 square feet. Apartments feature quartz countertops, tiled showers with benches, full-sized washers/dryers and private patios or balconies. Community amenities include a resident lounge, community bar and fireplace within the Club House, a fitness center, wellness studio and space for group yoga, fitness and health-related programs. Additional amenities include a resort-style heated pool and spa, an outdoor firepit, outdoor lounge areas, a rooftop deck, community library, business center, clubroom, dog wash station and bike wash. The property also offers carports for residents, as well as electric vehicle charging stations. The property was completed in 2025.

November 7, 2025

Acquisitions Idaho Industrial Western

Walseth Investment Co. Acquires 115,008 SF Industrial Facility in Nampa, Idaho

by Amy Works November 7, 2025

NAMPA, IDAHO — Walseth Investment Co. has acquired Building B at Madison Logistics Center, a three-building logistics center in Nampa, from a regional developer for an undisclosed price. Situated on 5.9 acres at 16685 Madison Road, the 115,008-square-foot Building B features 5,000 square feet of office space, a clear height of 32 feet, 28 dock-high doors, four grade-level doors, 155 parking stalls and 2,000 amps and 480V 3-phase power. The facility, which was completed in 2023, offers divisible suite options for tenant flexibility. Michael McNeight and Devin Ogden of Colliers represented the seller and are leading leasing efforts for the property. Nick Viscount of Keystone Mortgage arranged debt financing with a life company lender for the buyer.

November 7, 2025

Acquisitions California Retail Western

Flying Horse Investments Buys 29,187 SF Shattuck Plaza in Northern California, Plans Renovation

by Amy Works November 7, 2025

BERKELEY, CALIF. — Flying Horse Investments LLC (FHI) has acquired Shattuck Plaza, a 29,187-square-foot, street-front retail property located in downtown Berkeley, with plans to renovate the center. Renovations will include lease-ready storefronts on the 17,767-square-foot ground-level. The building’s 11,430-square-foot lower-level space will also be reactivated to feature community-serving tenants, such as fitness, education and wellness concepts. The renovation is expected to begin immediately, with FHI targeting approximately six to nine months for initial building upgrades and another six to nine months for tenant build-outs, subject to permitting and city approvals. D-Scheme Studio and Aecore Inc. will lead the redevelopment, while Pegasus Asset Management will oversee property and construction management. The Econic Co. will handle leasing for the property. Bolour Associates financed the acquisition and Pegasus Capital Markets served as debt advisor for the transaction. Nicolas Bicardo of Newmark represented the seller, Hill Street Realty (HSR), which originally acquired the property in October 2012. In March 2021, following a condominium adjustment that formally separated the retail portion from the movie theater and office components of the property, HSR sold the latter portion of the property to Article Student Living, while retaining ownership of the retail frontage.

November 7, 2025

Acquisitions Colorado Retail Western

Boulder Group Arranges $2.2M Sale of Dollar General-Occupied Retail Property in Evans, Colorado

by Amy Works November 7, 2025

EVANS, COLO. — The Boulder Group has brokered the sale of a single-tenant retail property located at 3312 11th Ave. in Evans. A commercial real estate development company sold the asset to a California-based 1031 exchange investor for $2.2 million in an all-cash transaction. Dollar General occupies the property, which was built in 2022, on a long-term lease with rental increases every five years and no landlord responsibilities. Zach Wright and Brandon Wright of The Boulder Group represented the seller in the deal.

November 7, 2025

California Company News Development Retail Western

Macy’s, TMG Partners Form Joint Venture for Potential Redevelopment of Flagship Store in San Francisco

by Amy Works November 6, 2025

SAN FRANCISCO — Macy’s and TMG Partners have formed a joint venture to explore the potential redevelopment of the retailer’s flagship store on Union Square in San Francisco’s retail district. TMG will help Macy’s conduct a “strategic assessment” of the property to explore the viability of renovations and enhancements that will “align with the needs of today’s office workers, residents, visitors, retail and local businesses.” The Union Square location will remain open indefinitely. Further updates on plans and next steps for the Union Square site will be shared in the coming months. In February 2024, Macy’s originally announced plans to close Union Square as part of a larger sell-off of store properties nationwide; however, the company said its store would not close until it found a buyer for the 700,000-square-foot property, as disclosed by several media sources. The Union Square flagship store has been in operation since 1929 and is one of the retailer’s largest and oldest locations.

November 6, 2025

Colorado Development Multifamily Western

Laramar Group to Develop 155-Unit Multifamily Community in Denver

by Amy Works November 6, 2025

DENVER — Laramar Group plans to break ground this fall on Colfax & Colorado, a multifamily property in Denver within walking distance of 9+CO, a 26-acre mixed-use hub. Located at 1565 Colorado Blvd., Colfax & Colorado will feature a six-story, wood-framed building with two levels of above-grade parking. Construction is slated to begin this winter, with the first unit deliveries expected in fall 2027. The property will offer 155 studio, one- and two-bedroom apartments averaging 730 square feet. Onsite amenities will include a rooftop deck with panoramic views of City Park and the Rocky Mountains, a high-end fitness center, clubroom, multiple coworking spaces and secure parking for 152 vehicles.

November 6, 2025

Acquisitions California Industrial Western

Voit Brokers $23.4M Sale of 89,873 SF Industrial Building in La Mirada, California

by Amy Works November 6, 2025

LA MIRADA, CALIF. — Voit Real Estate Services has arranged the purchase of a freestanding industrial building located at 14821 Artesia Blvd. in La Mirada. World Trade Printing Co. acquired the asset from The Realty Associates Fund XII Portfolio for $23.4 million. World Trade Printing Co. will use the 89,873-square-foot property to expand its operations and to accommodate its acquisition of several other companies, according to the Voit team. Eric Smith, Selden McKnight and Stan Kwak of Voit represented the buyer in the deal.

November 6, 2025

Acquisitions Retail Utah Western

Bershon Realty Co. Sells Two Multi-Tenant Retail Properties in Provo, Utah

by Amy Works November 6, 2025

PROVO, UTAH — Bershon Realty Co. LP has sold Bulldog Plaza, a 13,620-square-foot retail center located near Brigham Young University (BYU) in Provo. Anchored by CVS Pharmacy, Bulldog Plaza comprises two retail pad buildings, which are both fully leased. The five-tenant, 10,025-square-foot pad building includes Noodles & Co., Firehouse Subs, Coco Tea, Teriyaki Bowl and The Taco Spot. Meanwhile, the three-tenant, 3,595-square-foot building is occupied by Papa John’s, The Paleta Bar and Crazy D’s Hot Chicken. Bill Asher, Jeremy McChesney, Jeff Lefko and Ed Hanley of Hanley Investment Group Real Estate Advisors represented the seller, Los Angeles-based Bershon Realty Co. LP, in the off-market transaction. Brendan Lee of Newmark Mountain West represented the buyer, a private 1031 exchange investor from the Salt Lake City metro area. The sales price was not disclosed.

November 6, 2025

California Company News Retail Western

Philip Voorhees to Join BISON Partners After 25-Year Career at CBRE

by Amy Works November 6, 2025

IRVINE, CALIF. — Philip Voorhees will join BISON Partners, a real estate operating company focused on retail properties, following his departure from CBRE at the end of the year after a 25-year tenure. Voorhees currently serves as vice chairman in CBRE’s Retail Capital Markets division, where his retail investment teams have completed more than 1,080 transactions totaling over $15 billion in value. Launched in 2022 by Brad Rable and Wil Smith, BISON Partners was established as a strategic venture to acquire and reposition retail shopping centers. The firm recently expanded its footprint with properties in California, Arizona and Nevada. Voorhees’ expertise in acquisitions and capital markets will support BISON’s continued mission to grow a portfolio of value-add retail properties across the western United States.

November 6, 2025

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