Western Archives - REBusinessOnline

CNSREIT Acquires 303,000 SF Shopping Center in Phoenix

Amy Works — Fri, 09 Oct 2026 14:51:29 +0000

PHOENIX — Cohen & Steers Income Opportunities REIT (CNSREIT) has acquired Grand Canyon Crossing, a 303,000-square-foot shopping center located in Phoenix. Walmart Supercenter anchors the property, which was 99 percent leased at the time of sale. Additional tenants include Harbor Freight Tools, Wendy’s, YouFit Health Club, Sally Beauty Supply, Nationwide Vision Center, Denny’s, Starbucks Coffee, Sonic, Jamba and Quick Quack Car Wash. The retail center was built on 33 acres in 2005. CNSREIT acquired Grand Canyon Crossing through a joint venture with the Sterling Organization. Further details of the transaction were not disclosed.

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PSRS Arranges $11.7M in Acquisition Financing for Multi-Tenant Retail Plaza in San Bernardino, California

Amy Works — Fri, 09 Oct 2026 14:41:03 +0000

SAN BERNARDINO, CALIF. — PSRS has arranged $11.7 million in acquisition financing for a multi-tenant retail center in San Bernardino. Jonny Soleimani and Garrett Carter of PSRS secured the loan, which was structured with a 70 percent loan-to-value ratio, a two-year interest-only term and a built-in extension option, through a regional bank The borrower was undisclosed. Situated on 12.6 acres, the 66,713-square-foot property features 26 retail suites, including a gym anchor. Built in 2014, the property was 60 percent leased at the time of loan closing.

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JLL Negotiates $9.5M Sale of Shops at Edgewater in Sand City, California

Amy Works — Fri, 09 Oct 2026 14:15:35 +0000

SAND CITY, CALIF. — JLL Capital Markets has negotiated the $9.5 million sale of the Shops at Edgewater, a 25,223-square-foot retail center located at 2080 California Ave. in Sand City. The fully leased property is occupied by Ulta Beauty, Panera Bread, Mancini’s Sleepworld and a Bank of America ATM. The Shops at Edgewater is also shadow anchored by Target, Ross Dress for Less and Lucky. Eric Kathrein, Andrew Spangenberg and Allie Repaskey of JLL represented the private seller in the transaction. An entity doing business as Sand City Holdings LLC was the buyer.

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Galway Cos. Signs New Tenants, Advances Multimillion-Dollar Renovation at The Promenade Shops Centerra in Northern Colorado

Amy Works — Fri, 09 Oct 2026 14:12:00 +0000

LOVELAND, COLO. — Galway Cos. has signed new tenants to leases and is advancing a multimillion-dollar, property-wide renovation at The Promenade Shops Centerra, a 494,500-square-foot open-air center in Loveland, approximately 46 miles north of Denver. Improvements will include new storefront facades; a redesigned ice rink scheduled to open next month; new landscaping along Main Street and updated property lighting; additional seating and refreshed outdoor gathering spaces; a new monument sign and new entrance signage; property-wide Wi-Fi and security enhancements; and new roofing across 10 buildings. The broader streetscape renovation is scheduled for completion in spring 2027. Additional property improvements, tenant openings and community programming will continue into 2027 as Galway advances The Promenade’s long-term repositioning. The nine new leases that have been signed within the previous year total 37,643 square feet. MINISO, Christopher & Banks and Windsor will open this fall, while JD Sports, Hot Topic, BoxLunch, Cabinet HQ, Hot Pot Grill and Los Dos Potrillos are anticipated to debut next spring. Galway acquired The Promenade Shops Centerra in August 2025 for $55 million.

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Equus Capital Partners Divests of 1.2 MSF Industrial Portfolio in Tucson for $165.7M

Amy Works — Thu, 08 Oct 2026 14:25:51 +0000

TUCSON, ARIZ. — Equus Capital Partners has divested of a 14-property industrial portfolio in Tucson to Catalyst Real Estate and New York-based Everview Partners for a combined $165.7 million, or $133 per square foot. Paul Hooker of Cushman & Wakefield | PICOR, in conjunction with Will Strong, Michael Matchett, Madeline Warren, Molly Miller and Jack Stamets of Cushman & Wakefield’s National Industrial Advisory Group, represented the buyer and seller in the deal. Known as the Tucson Shallow Bay Industrial Portfolio, the 1.2-million-square-foot portfolio includes:

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IPA Negotiates $72M Sale of Apartment Community in Kent, Washington

Amy Works — Thu, 08 Oct 2026 14:22:29 +0000

KENT, WASH. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $72 million sale of The Groves Apartments, a multifamily property in Kent, a southern suburb of Seattle. RISE Properties sold the community to FPA Multifamily LLC for $196,721 per unit. Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino of IPA represented both parties in the deal. Built in 1980 on 20 acres, The Groves Apartments comprises 30 two- and three-story residential buildings, a newly renovated clubhouse, an outdoor heated pool, a children’s playground and two dog parks. The property features 366 one-, two- and three-bedroom apartments with an average size of 836 square feet. Each apartment includes a private patio or balcony, while the two- and three-bedroom units feature fireplaces.

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Yamaha Motor Corp. Sells 25-Acre Headquarters Campus in Cypress, California

Amy Works — Thu, 08 Oct 2026 13:50:05 +0000

CYPRESS, CALIF. — Yamaha Motor Corp. U.S.A. has sold its former U.S. headquarters at 6555 Katella Ave. in Cypress, located in Orange County. Terms of the transaction were not released. Patrick Barnes, Paul Clark, Nick Slonek and Jae Estep of Avison Young represented Yamaha in the deal. Situated on 25 acres, the infill, industrial-zoned campus includes three buildings — one industrial, one flex and one office — totaling approximately 278,964 square feet and occupying an entire city block with three points of access from Katella Avenue, Holder Street and Yamaha Way. The campus has served as Yamaha’s U.S. headquarters since 1979. As part of a planned corporate relocation to Kennesaw, Ga., Yamaha will lease back the entire property through Dec. 31, 2028.

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Rainbow Investment Co. Breaks Ground on 52,600 SF Medical Office Development in La Mesa, California

Amy Works — Thu, 08 Oct 2026 13:48:00 +0000

LA MESA, CALIF. — Rainbow Investment Co. has broken ground for Cush Medical Plaza, a medical office project that will be situated adjacent to the Sharp Grossmont Hospital campus in La Mesa, located in San Diego County. The project team includes Ware Malcomb as architect, interior designer and civil engineer, Turner Construction Co. as general contractor and 12 Alpha as project manager. Nehal Wadhwa and Matt Melendres of Cushman & Wakefield’s Healthcare Advisory team will handle leasing efforts for the development. The two-story, 52,600-square-foot building will feature flexible, multi-tenant medical office uses on the first floor and the Sharp Family Residency Clinic, a combined family practice and physician residency training clinic, on the upper floor. The residency center will include a lounge, sleep rooms, showers, charting spaces, a training room and fully functional exam and consult rooms for active patient care.

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Agora Realty Breaks Ground on $375M Final Phase of Mixed-Use Entertainment Project in North Las Vegas

Amy Works — Wed, 07 Oct 2026 15:32:30 +0000

NORTH LAS VEGAS, NEV. — Agora Realty has broken ground on the third and final phase of Hylo Park, a 73-acre mixed-use entertainment project in North Las Vegas. Upon completion, the $375 million, 25-acre final phase will include a 250,000-square-foot multi-sport indoor field house; an existing multi-sport arena, fully accredited college preparatory Game Changers Sports Academy; an outdoor public space, community field, shops, restaurants and a family entertainment center; and a 177-key Hilton Embassy Suites Completion is slated for late 2027. Additional phases of the project include Hylo Park South, a 90,750-square-foot grocery-anchored retail center that was completed in July as the second phase of the project, and a nearly 400-home residential neighborhood called The West End, which was developed by Lennar Corp. Project partners include Advent, a research-driven, technology-forward storytelling agency, and PMY Group, a full-service provider of technology, data and creative solutions.

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Affinius Capital Provides $94.8M Construction Loan for Student Housing Project Near Oregon State University

Amy Works — Wed, 07 Oct 2026 15:22:19 +0000

CORVALLIS, ORE. — Affinius Capital has provided a $94.8 million construction loan for Zev Corvallis, a 13-story student housing property that will serve students at Oregon State University. The borrower is Fields Holdings. Scheduled for a fall 2028 completion, Zev Corvallis will feature 667 beds across 262 studio, one-, two-, three- and four-bedroom unit. Residences will be furnished with quartz countertops, stainless steel appliances, modern cabinetry, in-unit washers/dryers and smart-home technology. Communal amenities will include a pool, rooftop deck, indoor basketball court, sauna, theater, fitness center, yoga room, study and resident lounges, as well 4,500 square feet of retail space.

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IPA Arranges $14.7M Sale of Apartment Complex in Forest Grove, Oregon

Amy Works — Wed, 07 Oct 2026 14:52:09 +0000

FOREST GROVE, ORE. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $14.7 million sale of The Boxer, a 99-unit apartment complex in Forest Grove, about 27 miles west of Portland. Hillsboro, Oregon-based Bender Equities sold the property to San Francisco-based Tam Ridge Partners. The Boxer is a nine-building property that was developed in the 1960s and renovated in 2019. Amenities include a playground, onsite laundry facilities, a lounge with a kitchen, fireplace, shuffleboard and dining areas. IPA’s Anthony Palladino, Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero represented the seller in the transaction. David Tabata of Marcus & Millichap assisted in closing the deal as the firm’s broker of record in Oregon.

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Kidder Mathews Negotiates Sale of 58,255 SF Industrial Building in Tacoma, Washington

Amy Works — Wed, 07 Oct 2026 14:42:04 +0000

TACOMA, WASH. — Regional brokerage firm Kidder Mathews has negotiated the sale of a single-tenant industrial building located at 2223 S. 80th St. in Tacoma, approximately 35 miles south of Seattle. Matt McLennan and Andy Miller of Kidder Mathews represented the seller in the transaction, and Doug Klein of Kidder Mathews represented the buyer. Both parties requested anonymity. Built in 1993 on 2.4 acres, the 58,255-square-foot building is known locally as the Smith-Western Building and was fully leased at the time of sale to the wholesale distributor of souvenirs and tourist merchandise of the same name. The company has occupied the property since 1999 and recently executed a new 72-month lease beginning in Jan. 1, 2026 and running through Dec. 31, 2031. The lease also includes one five-year renewal option. Located within the Tacoma/Lakewood industrial submarket, the property provides immediate access to I-5 and connectivity to the Port of Tacoma, Seattle-Tacoma International Airport and the broader Puget Sound region. Building features include 24-foot clear heights, nine dock-high doors, two grade-level doors, three exterior levelers, a wet sprinkler system and 1,600 amps of power.

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Jonathan Rose Cos. Acquires Affordable Housing Community in Santa Cruz, California

Amy Works — Tue, 06 Oct 2026 12:48:00 +0000

SANTA CRUZ, CALIF. — Jonathan Rose Cos. has purchased La Posada Apartments, a 150-unit mixed-income multifamily property located at 609 Frederick St. in Santa Cruz, with plans to extend the existing Project Based Section 8 Housing Assistance Payment (HAP) contract that provides federal support for 122 of the units. The original developers sold the property for $85 million. The contract was set to expire in 2028, but the acquisition will extend the federal support for an additional 20 years. The buyer will also implement an additional regulatory agreement with the California Municipal Finance Authority, further restricting 40 percent of units at 80 percent of the area median income for 55 years. Originally built in 1980, La Posada Apartments features a pool, community garden, library, community room with kitchenette, fitness center and a dining room, as well as an onsite independent elementary school. Additionally, the property provides onsite meals and other services focused on resident care. The new ownership plans to renovate the property, including upgrades to building systems and unit interiors, improvements to the community spaces, the addition of a dedicated fitness space and energy efficiency enhancements. The firm will also introduce a resident services plan, executed with the continued…

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First Washington Realty Sells 174,428 SF Shopping Center in San Luis Obispo, California

Amy Works — Tue, 06 Oct 2026 12:46:00 +0000

SAN LUIS OBISPO, CALIF. — First Washington Realty has sold Marigold Center, a grocery-anchored shopping center in San Luis Obispo, about 200 miles north of Los Angeles, to Nuveen Real Estate for $58.2 million. Gleb Lvovich, Geoff Tranchina, Daniel Tyner and Eric Kathrein of JLL Capital Markets represented the seller in the deal. Located at 3900 Broad St., Marigold Center offers 174,428 square feet of retail space. Situated on 17.5 acres, the property was 91.6 percent leased at the time of sale. Tenants include Vons, CVS/pharmacy and Planet Fitness, as well as a mix of grocery, pharmacy, fitness, sporting goods, restaurant, medical and service-oriented tenants.

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Unique Properties/TCN Negotiates Sale of 97,992 SF Office Building in Golden, Colorado

Amy Works — Tue, 06 Oct 2026 12:44:00 +0000

GOLDEN, COLO. — Unique Properties/TCN Worldwide has negotiated the sale of 2801 Youngfield Street, an 97,992-square-foot office building in Golden, a western suburb of Denver. HGN Realty sold the asset to an undisclosed buyer for $6.5 million. Rachel Colorosa and Zach Schuchman of Unique Properties/TCN Worldwide represented the seller in the off-market transaction.

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Marcus & Millichap Brokers $6.3M Sale of San Francisco Multifamily Portfolio

Taylor Williams — Tue, 06 Oct 2026 12:42:00 +0000

SAN FRANCISCO — Marcus & Millichap has brokered the sale of a portfolio of two multifamily properties at 1159-1169 and 1067-1071 Union St. in San Francisco’s Russian Hill neighborhood. The properties sold for a combined $6.3 million after approximately 50 years under the same family ownership. Philip Batlin, Clinton Textor, Sam Runco and Jordan Tong, investment specialists in Marcus & Millichap’s San Francisco office, represented seller in the transaction and procured the buyer, local firm Ballast. Built in 1925, the 9,123-square-foot property at 1159-1169 Union St. consists of six two-bedroom, one-bath units on a 0.12-acre parcel. The property features two flats per floor across three residential levels, six garage spaces and rear access from Warner Place. Built in 1908, the 6,075-square-foot property at 1067-1071 Union St. consists of five two-bedroom, one-bath units and is situated on a 0.07-acre parcel. The property includes two buildings on a single lot with frontage on Union Street and Macondray Lane.

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North Palisade Partners Underway on 290,618 SF Multi-Tenant Industrial Project in Santee, California

Amy Works — Mon, 05 Oct 2026 13:30:02 +0000

SANTEE, CALIF. — North Palisade Partners is underway on development of Palisade Santee Commerce Center, a new industrial project in Santee, located in San Diego County. The company acquired the 13.4-acre site at 10990 N. Woodside Ave. from an undisclosed seller for $22.7 million. Slated for completion in third-quarter 2027, Palisade Santee Commerce Center will offer 290,618 square feet of multi-tenant industrial space. Evan McDonald of Colliers represented the buyer in the transaction. Additionally, McDonald and Mark Lewkowitz of Colliers will serve as the property’s leasing advisors.

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Westwood Financial Acquires 95,416 SF Grocery-Anchored Center in Huntington Beach, California

Amy Works — Mon, 05 Oct 2026 13:29:00 +0000

HUNTINGTON BEACH, CALIF. — Westwood Financial has acquired Peninsula Marketplace, a 95,416-square-foot shopping center located in Huntington Beach in Southern California. Grocer Ralphs anchors the property, which was 99 percent leased at the time of sale. Other tenants at the center include Planet Fitness, Carl’s Jr., Woof Gang Bakery & Grooming, Sourdough & Co., Rubio’s Baja Gril, Peninsula Orthodontics, Aim Mail Center and 602 Coffee & Acai.

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Hanley Investment Group Brokers Sale of 87,042 SF Shopping Center in Apple Valley, California

Amy Works — Mon, 05 Oct 2026 13:28:00 +0000

APPLE VALLEY, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of Apple Valley Towne Center, a regional shopping center in San Bernardino County. Kevin Fryman, Bill Asher and Sean Cox of Hanley Investment Group represented the seller and developer, San Pedro, Calif.-based Rich Development Enterprises, in the transaction. The buyer and sales price were not disclosed. Completed earlier this year o a 7.9-acre site at 19390 Bear Valley Road, Apple Valley Towne Center features 87,042 square feet of retail space that was fully leased at the time of sale to three national junior box tenants: Hobby Lobby, Marshalls and Five Below. The tenants operate under new initial long-term triple-net leases with scheduled rental increases every five years. Additionally, the property is shadow anchored by Stater Bros. Markets, Lowe’s and Walgreens.

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Berkadia Arranges $6.8M Sale of Apartment Building in Los Angeles’ Westchester Neighborhood

Amy Works — Mon, 05 Oct 2026 13:26:00 +0000

LOS ANGELES — Berkadia has arranged the $6.8 million sale of Altezza, a 16-unit apartment building in the Westchester neighborhood of Los Angeles. Steffan Braunlich of Berkadia El Segundo led the transaction on behalf of the seller, Revere Investments of Rolling Hills Estates, California. The buyer was Edud Investments, based out of Corona, California. The deal closed on Sept. 21. Located at 6925 Kittyhawk Ave., the property was built in 1993 and features 16 two-bedroom, two-bathroom apartments, including upper-level, two-story loft layouts. The property also includes in-unit stackable washers and dryers, central heating and air conditioning, controlled access and 32 subterranean parking spaces.

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