Western

Basis Industrial Buys Land in Surprise, Arizona for Development of 707-Unit Self-Storage Facility

by Amy Works September 9, 2026

SURPRISE, ARIZ. — Basis Industrial, a privately held and vertically integrated real estate owner and operator based in Delray Beach, Fla., has acquired a land parcel at 17140 W. Waddell Road in Surprise for the development of a self-storage facility. Additionally, Basis Industrial closed on a $20.5 million construction loan for the project. NexBank and NexPoint provided the construction financing. The development will encompass approximately 102,673 square feet with 707 climate-controlled storage units upon completion. Construction is expected to begin later this year, with completion and opening slated for fall 2027. The project will be situated within the Truman Ranch master-planned community, including more than 600 new apartment units.

September 9, 2026

Acquisitions Multifamily Nevada Seniors Housing Western

MorningStar Senior Living Completes Recapitalization of 168-Unit Property in Las Vegas

by Amy Works September 9, 2026

LAS VEGAS — MorningStar Senior Living has recapitalized MorningStar Senior Living at The Canyons, a seniors housing property situated on 3.6 acres at 490 S. Hualapai Way in Las Vegas. JLL Capital Markets represented the seller, a joint venture between Confluent Development and Ovation Group, in the sale of the property to a private equity firm. JLL also worked on behalf of the buyer to secure a five-year acquisition loan through a debt fund. MorningStar will remain as the operator and a joint venture partner. MorningStar opened the 168-unit community in 2024 with co-developers Confluent Development and Ovation Group. The four-story MorningStar at The Canyons offers independent living, assisted living and memory care units in a mix of studio, one- and two-bedroom layouts. Community amenities include multiple dining venues, fitness and therapy spaces, a salon, theater and swimming pool, as well as a variety of social and wellness programs.

September 9, 2026

Industrial Leasing Activity Washington Western

Cowboy Space Leases 291,035 SF Industrial Facility in Kent, Washington for Production Site

by Amy Works September 9, 2026

KENT, WASH. — Cowboy Space, an aerospace and advanced manufacturing firm, has leased a 291,035-square-foot facility at 7650 S. 228th St. in Kent, a suburb 20 minutes south of Seattle, from CenterPoint. Thad Mallory and Taylor Hoff of Newmark represented the landlord in the transaction. Cowboy Space will transform the asset into a specialized advanced manufacturing operation supporting space and rocket development, adding approximately 300 jobs to the region’s aerospace industry. The project will include significant tenant and landlord-funded capital improvements, including new office construction, power and ventilation upgrades, enhanced security measures and flooring improvements. Most recently occupied by Costco, the property was originally developed as a distribution facility.

September 9, 2026

California Development Loans Retail Western

HKS Real Estate Arranges $7.8M in Construction Financing for Two Retail Developments in California

by Amy Works September 9, 2026

FRESNO AND CLOVIS, CALIF. — HKS Real Estate Advisors has arranged $7.8 million in construction financing for two ground-up retail developments in Fresno and Clovis. Alex Dobosh and Andrew Pilchick of HKS secured the loans through North American Savings Bank on behalf of the borrower, Bottom Line Group. The first project will be a 4,771-square-foot 7-Eleven convenience store and gas station located in Fresno. The second project, which will total 11,353 square feet, will feature another 7-Eleven and a three-unit retail building in Clovis. Chipotle Mexican Grill and Phoenician Express have already committed as tenants at the property.

September 9, 2026

Acquisitions California Office Top Stories

Broadcom Acquires Corporate Campus in Southern California for $325M

by Hayden Spiess September 9, 2026

IRVINE, CALIF. — Semiconductor and infrastructure software company Broadcom Inc. (NASDAQ: AVGO) has completed the acquisition of its Southern California campus located in Irvine for $325 million. Washington, D.C.-based PRP Real Assets was the seller. Developed in 2017 and 2018, the campus was built as the corporate headquarters for Broadcom, which occupies the property on a net-lease basis. PRP Real Assets has owned the campus since 2020. Situated within the Irvine Spectrum District, the Broadcom Corporate Campus totals 660,893 square feet and features two five-story office buildings. Gensler designed the 9.6-acre campus, which also features nearly 3,000 parking spaces. According to PRP Real Assets, the property benefits from its location near retail, dining, hotels and public transportation, with the latter including the Irvine Station. “Broadcom’s decision to acquire the campus underscores the property’s importance to the company’s operations and validates the principles behind our mission-critical net lease strategy,” says Paul Dougherty, president of PRP Real Assets. “The campus combines a high-quality asset, a strong tenant and an irreplaceable location in one of the nation’s leading technology markets.” PRP Real Assets is a privately held real estate investment and management company. Founded in 2005, the firm has acquired more than $6 …

September 9, 2026

Acquisitions California Multifamily Western

MBK Rental Living, Haseko Sell 315-Unit Zia Multifamily Community in Anaheim

by Amy Works September 8, 2026

ANAHEIM, CALIF. — MBK Rental Living and development partner Haseko Corp. have sold Zia, a 315-unit multifamily community in Anaheim that opened in September 2024. The buyer was an unnamed institutional investor. Zia is a five-story community with studios and one-, two- and three-bedroom residences along with a 24-hour fitness center, pool with grill and bar areas, a dog park and spa, coworking spaces that include conference rooms, courtyards and a game lounge with a race car simulator.

September 8, 2026

California Loans Office Western

Waterfall Asset Management, Delaware Life Provide $64.7M Refinancing for Office Property in Torrance, California

by Amy Works September 8, 2026

TORRANCE, CALIF. — Waterfall Asset Management, an alternative investment manager, and Delaware Life have provided a $64.7 million loan facility for the refinancing of The Torrance, a Class A office property in Torrance. The financing will support the in-place leasing strategy for the building. Situated on 7.3 acres, the eight-story property features 301,000 square feet of office space. The asset is currently leased to a diverse roster of tenants, including All Nippon Airways, Salon Republic, Barrister Executive Suites, Compass California, Unio Health Partners and Morgan Stanley Smith Barney. Originally constructed in 1988, The Torrance features significant investment and modernization efforts, including recent upgrades to the building’s elevator and HVAC systems, common areas, roof, amenities and exterior. The property also features a two-story, glass-entry lobby, ground-floor café, fitness center and more than 1,200 parking spaces. Jordan Roeschlaub, Nick Scribani and Chris Lozinak of Newmark assisted in securing the financing for The Torrance.

September 8, 2026

Acquisitions Arizona Development Mixed-Use Multifamily Restaurant Retail Western

Evergreen Development Acquires 11.7 Acres in Mesa, Arizona, Plans Mixed-Use Project

by Amy Works September 8, 2026

MESA, ARIZ. — Evergreen Development has acquired 11.7 acres of land in Mesa, with plans to build a mixed-use project that will feature multifamily space and a new retail center. The retail portion of the site is planned to comprise an approximately 8,500-square-foot multi-tenant retail building for restaurant and retail uses, as well as a 2,360-square-foot freestanding Chipotle with a drive thru. The multifamily portion will include 261 apartments across nine three-story buildings. Evergreen plans to break ground on the project in the first quarter of 2027, with lease-up beginning in the second quarter of 2028. Brookfield sold the site for an undisclosed price.

September 8, 2026

Acquisitions Colorado Industrial Self-Storage Western

Marcus & Millichap Arranges Sale of 516-Unit Self-Storage Facility in Windsor, Colorado

by Amy Works September 8, 2026

WINDSOR, COLO. — Marcus & Millichap has brokered the sale of Falcon Point Self Storage, a self-storage facility in Windsor. Terms of the transaction were not released. Adam Schlosser, Dave Knobler and Charles “Chico” LeClaire of the LeClaire-Schlosser Group of Marcus & Millichap represented the undisclosed seller in the transaction. Originally constructed in 2019 and expanded in 2024 with an additional 51,530 square feet, Falcon Point Self Storage features 516 storage units across 72,068 net rentable square feet. There are 14 single-story, all-metal buildings on approximately 6.8 acres. The unit mix includes climate-controlled units, traditional drive-up access and dedicated vehicle storage, with 100 surface parking spaces serving the site. The facility features LED lighting, gated entry with digital keypad access, 24/7 video surveillance and an onsite management office.

September 8, 2026

Acquisitions California Office

Tishman Speyer Sells Office Building in Mountain View, California to Spear Street Capital for $121.5M

by Amy Works September 4, 2026

MOUNTAIN VIEW, CALIF. — Tishman Speyer has completed the disposition of 400 Castro Street, a Class A office building in downtown Mountain View, to Spear Street Capital for $121.5 million, or $876 per square foot. Tishman Speyer developed the 138,000-square-foot asset in 2002 and immediately leased the office space in full to Fenwick & West, which still occupies the property. With convenient access to highways and Caltrain, 400 Castro features roof decks, underground parking and views of the San Francisco Bay and coastal mountains. Additionally, the property offers onsite restaurants, including Cascal, Peet’s Coffee and Sweetgreen.

September 4, 2026

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