REBusinessOnline

Investec Real Estate Acquires The Esplanade Shopping Center in Oxnard, California

OXNARD, CALIF. — Investec Real Estate Cos., in partnership with DRA Advisors, has purchased The Esplanade Shopping Center. The retail center is situated on 31.4 acres on the southeast corner of North Oxnard Boulevard and the 101 Freeway in Oxnard. The acquisition price was not released. Redeveloped in 2002 from an enclosed mall into an open-air center, the regional power center features 356,864 square feet of retail space. Tenants include Dick’s Sporting Goods, Walmart Neighborhood …

KeyBank Arranges $35.5M in Financing for South Beach Resort in Las Vegas

LAS VEGAS — KeyBank Real Estate Capital has secured a $35.5 million Fannie Mae first mortgage loan for the acquisition of South Beach Resort in Las Vegas. Situated on 9.8 acres, the property is comprised of 16 two-story residential buildings and features a total of 220 Class A apartment units. Paul Angle of Key’s Commercial Mortgage Group provided the non-recourse, fixed-rate loan with 10 years of interest-only payments for the undisclosed

Buchanan Street Partners Closes $16M Construction Loan for Retail Development Near Seattle

PUYALLUP, WASH. — Buchanan Street Partners has provided a $16 million non-recourse bridge loan to Net Lease Alliance to resume and complete construction of a retail center in Puyallup. Located at 301 37th Ave. SE, the 125,100-square-foot project is fully preleased to 24 Hour Fitness and At Home, a retail chain specializing in home décor products. Buchanan Street closed the loan in two weeks to enable the timely completion of the project and meet tenant commencement dates by year-end and …

SRS Real Estate Partners Directs $5.1M Sale of The Shops at Arizona in Anthem

ANTHEM, ARIZ. — SRS Real Estate Partners has arranged the sale of The Shops at Arizona, a neighborhood shopping center located at 3434 Anthem Way in Anthem. Abington Emerson, a private real estate investment company, sold the property to an individual buyer for $5.1 million. Built in 2003 and situated on 6.7 acres, the property features 35,710 square feet of retail space. Current tenants include Ace Hardware, Coldwell Banker, Pizza Hut, Princess Nails and Shanghai Club. Sean Thomas and …

Titan Development Opens Extra Space Self-Storage Facility in New Mexico

RIO RANCHO, N.M. — Titan Development Real Estate Fund I has opened Extra Space Storage 528 & Corrales, a self-storage facility located at Highway 528 and Corrales Road in Rio Rancho. The project is the second self-storage facility to be completed by the fund. The two-building property features 88,032 square feet of space offering both climate-controlled and drive-up units, as well as RV and boat parking. Additionally, the property includes electronic access, perimeter fencing, video …

University Student Living Receives $575M Construction Financing for UC Davis Student Housing Project

DAVIS, CALIF. — University Student Living LLC has received $575 million in construction financing for a major expansion of the on-campus housing at the University of California, Davis. The project will add approximately 3,300 beds to the university’s West Village. The developer expects to deliver the first 1,000 beds by the start of the 2020 academic year. The $575 million in project costs will come from the proceeds of a tax-exempt bond issue, the largest ever in the country for a …

NAI Shames Makovsky Brokers $24.5M Sale of Symes Building Office Property in Denver

DENVER — NAI Shames Makovsky has negotiated the sale of an office property, located at 820 16th St. in Denver. Harbor Associates purchased the building from 820 16th Street LLC for $24.5 million. Known as the Symes Building, the property recently underwent renovations and improvements, including to the common-area corridors. Renovations included flooring, wall treatments, lighting, signage and restrooms. The buyer plans additional improvements including amenities, interior and exterior …

NKF Arranges $20.7M Acquisition of Office Building in Riverside, California

RIVERSIDE, CALIF. — Newmark Knight Frank (NKF) has directed the purchase of Center Tower Riverside, a five-story office building in downtown Riverside. De Anza Land and Leisure Corp. acquired the property from Irvine-based CIP Real Estate for $20.7 million. Located at 3880 Lemon St., the property features 73,645 square feet of Class A office space. Situated on 1.1 acres, the building was built in 1987 and underwent a more than $3 million renovation in 2017. Renovations included common area …

Marcus & Millichap Facilitates Sale of 64,320 SF Storage Facility in Colorado

ARVADA, COLO. — Marcus & Millichap has arranged the sale of Life Storage, a newly constructed storage facility located in Arvada. Opened in January 2018, the 64,320-square-foot property features 637 climate-controlled self-storage units. The property features a leasing office, multiple elevators, two covered drive-in loading/unloading areas, drives for large vehicles and 24-hour video surveillance. Adam Schlosser and Charles LeClaire of Marcus & Millichap’s The LeClaire Group …

Hanley Investment Group Directs $13M Sale of LA Fitness-Occupied Property in Temecula

TEMECULA, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of a newly delivered retail property located at 29920 Temecula Parkway in Temecula. An Irvine-based private developer sold the asset for $13 million. Completed earlier this year, the 37,000-square-foot property is situated on 3.7 acres with frontage on Temecula Parkway. LA Fitness occupies the single-tenant property on a net-lease basis. The asset is an anchor to The Gateway to Temecula, a lifestyle …

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