REBusinessOnline

Westcore Buys Two Distribution Warehouses in California from Kimco Realty for $108M

LANCASTER AND WOODLAND, CALIF. — Westcore has acquired a two-property industrial portfolio, totaling more than 1.4 million square feet of space, located at 2801 West Ave. H in Lancaster and 1755 E. Beamer St. in Woodland. Kimco Realty Corp. sold the portfolio for $108 million.Rite Aid occupies both distribution warehouses on 20-year leases. The Lancaster facility features 926,860 square feet and the Woodland property offers 508,000 square feet.Darla Long, Barbara Emmons and Rebecca …

IPA Brokers Acquisition of 148-Unit Autumn Grove Apartments in Vancouver, Washington

VANCOUVER, WASH. — Institutional Property Advisors, a division of Marcus & Millichap, has arranged the purchase of Autumn Grove, a multifamily property located in Vancouver. Las Vegas-based The Calida Group acquired the property for an undisclosed price. The name of the seller was not released.Adjacent to the Vancouver Mall, the property features 148 apartments and was recently completed. At the time of sale, the community was 86 percent leased.Anthony Palladino, Giovanni Napoli, …

JLL Capital Markets Arranges $24.5M Loan for Cielo Apartments in Downtown San Diego

SAN DIEGO — JLL Capital Markets has secured $24.5 million in financing for Cielo, a Class A multifamily property located in San Diego’s Little Italy neighborhood.The borrower, Built Development, acquired the land in 2014 and broke ground in 2018 for the project, which was completed in January. Loan proceeds will be used to pay off the borrower’s existing construction loan and provide cash.Located at 915 W. Grape St., the eight-story, 63,500-square-foot property features studio, …

Silver Creek Development Acquires 130,642 SF Office Building in Chandler, Arizona

CHANDLER, ARIZ. — Silver Creek Development has purchased Ascend at Chandler Airport Center, a Class A office property located on 11 acres at 1811 E. Northrop Blvd. in Chandler. An undisclosed seller sold the asset for $34.2 million.Build in 2016 and renovated in 2018, the two-story building features 130,642 square feet of office space. At the time of sale, the property was fully leased on a long-term basis as the corporate headquarters of Zovio, a technology services company.Chris …

High Street Residential Completes Construction of 160-Unit Gramercy Scottsdale Multifamily Project

SCOTTSDALE, ARIZ. — High Street Residential, the residential subsidiary of Trammell Crow Co., along with Principal Real Estate Investors, has completed the development of Gramercy Scottsdale, an apartment community in downtown Scottsdale.Situated on two acres, the five-story, Class A property features 160 apartments in a mix of studio, one- and two-bedroom units and three-bedroom penthouses, ranging in size from 600 square feet to 1,650 square feet. Units offer high-end finishes, gas …

Michaels Organization Breaks Ground on $93.3M Affordable Seniors Housing Project in Downtown Honolulu

HONOLULU — The Michaels Organization, in partnership with the City and County of Honolulu and the State of Hawaii, has broken ground on Halewai`olu Senior Residences, an affordable seniors housing community in downtown Honolulu.Scheduled for completion in 2023, the 17-story development sits on a 26,925-square-foot parcel owned by the City and County of Honolulu. The property will feature 156 one- and two-bedroom affordable rental units.Construction of the $93.3 million project will be …

LeClaire-Schlosser Group Brokers Sale of Dona Ana Storage Facility in Las Cruces, New Mexico

LAS CRUCES, N.M. — The LeClaire-Schlosser Group of Marcus & Millichap has arranged the sale of Dona Ana Storage, a self-storage property in Las Cruces. Haggar Group acquired the asset. Terms of the transaction were not released.The buyer has rebranded the facility as StorWise Self Storage. The property features 273 non-climate-controlled units with tilt-up concrete exterior walls, metal Kynar-coated roofs, concrete drive aisles, LED lighting, security cameras, an on-site management …

Alere Property Starts Construction of 211,000 SF Industrial Warehouse in Western Inland Empire

ONTARIO, CALIF. — Alere Property Group is developing a speculative industrial facility located on 9.3 acres at 1656 S. Cucamonga Ave. in Ontario.With construction underway, the 211,000-square-foot property will feature 40-foot clear heights; a 5,000-square-foot, two-story office space; 23 dock-high doors; two ground-level doors; and a 185-foot truck court with extra trailer parking. Completion is slated for third-quarter 2021.Additionally, Alere Property acquired two industrial …

Howard Hughes Developing Two New Projects in Las Vegas’ Summerlin Community

LAS VEGAS — The Howard Hughes Corp. has broken ground on two new projects at Summerlin in Las Vegas: 1700 Pavilion and Tanager Echo.Located directly south of the Las Vegas Ballpark, the 10-story 1700 Pavilion will feature 267,000 square feet of office space on three acres. The property will offer touchless entry from the garage to tenant suits and enhanced filtration throughout the building. Completion is slated for third-quarter 2022. The project team for 1700 Pavilion includes Hart …

Colliers Negotiates $2.9M Industrial Property Acquisition in Las Vegas

LAS VEGAS — Colliers International Las Vegas has arranged the purchase of an industrial building located at 3873 W. Oquendo Road in Las Vegas. The buyer, 963963 LLC, purchased the property from an undisclosed seller for $2.9 million.Situated within Stadium Industrial Park, the asset features 20,064 square feet of industrial space.Chris Connell and Grant Traub of Colliers International represented the buyer in the

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