Western

Marcus & Millichap Negotiates $2.1M Sale of O’Reilly Auto Parts-Occupied Property in Portland

by Amy Works April 23, 2025

PORTLAND, ORE. — Marcus & Millichap has arranged the acquisition of a retail property in Portland. A trust out of Northern California acquired the asset from an undisclosed seller for $2.1 million. O’Reilly Auto Parts occupies the 7,000-square-foot property on a net-leased basis. The retailer recently extended its triple-net lease for 10 years with additional renewal options. Chris Doty of Marcus & Millichap’s Phoenix office procured the buyer. David Tabata of Marcus & Millichap served as the Oregon broker of record.

April 23, 2025

Acquisitions Colorado Industrial Western

Malman Real Estate Brokers $1.2M Sale of Industrial Space in Denver

by Amy Works April 23, 2025

DENVER — Malman Real Estate has arranged the sale of 775 S. Jason Street, an industrial condominium in Denver. The Learned Co. acquired the property from 775 S Jason Street LLC for $1.2 million. Shane Robson of Malman Real Estate represented the seller, while Jarod Pale of DePaul Real Estate Advisors represented the buyer in the deal.

April 23, 2025

Acquisitions California Industrial Western

NAI Capital Arranges $52.4M Sale of Industrial Facility in Carson, California

by Amy Works April 22, 2025

CARSON, CALIF. — NAI Capital Commercial has negotiated the purchase of a single-tenant industrial facility at 1055 Sandhill Ave. in Carson. Rexford Industrial sold the asset to Carson Warehouse Corp. for $52.4 million, or $410 per square foot. Ryan Campbell of NAI Capital Commercial represented the buyer, while Frank Schulz and David Prior of The Klabin Company represented the seller in the deal. Built in 2024, the 127,775-square-foot move-in ready building features 19 dock-high doors, 10 hydraulic pit levelers, a clear height of 32 feet, LEED Gold certification and 6,998 square feet of high-end, two-story office space. Additionally, the property offers ESFR sprinklers, heavy power and a 130-foot concrete truck court. The buyer plans to convert a significant portion of the facility into cold storage, including freezers and coolers to support its food distribution operations.

April 22, 2025

California Development Multifamily Seniors Housing Western

EAH Housing Reopens Rodeo Gateway Seniors Housing Community in Rodeo, California

by Amy Works April 22, 2025

RODEO, CALIF. — EAH Housing has reopened Rodeo Gateway, a seniors housing property in Rodeo, after implementing interior and exterior upgrades to residences and common spaces. Rodeo Gateway features 49 one-bedroom apartments for seniors aged 62 and older and a two-bedroom manager’s unit. Community amenities include a landscaped courtyard, tree-lined walkways, comfortable seating areas and resident amenities, including a sunroom, computer lab and fully equipped community kitchen. The rehabilitation included upgraded residences with new energy-efficient appliances, high-efficiency LED lighting, new flooring and updated kitchen and bathroom cabinetry, sinks and fixtures; enhanced ADA-compliant amenities, including roll-in showers and improved mobility features; and a newly designed community room with new furnishings, flooring, paint and window coverings. Additional enhancements include improved air circulation in common hallways and new security features, such as an updated entry call system with key fob access and a new Wi-Fi system.

April 22, 2025

Acquisitions Industrial New Mexico Self-Storage Western

Marcus & Millichap Negotiates Sale of 292-Unit Self-Storage Portfolio in Clovis, New Mexico

by Amy Works April 22, 2025

CLOVIS, N.M. — Marcus & Millichap has arranged the sale of a two-property self-storage facility portfolio in Clovis. Terms of the transaction were not disclosed. The portfolio includes two facilities at 3400 W. 7th St. and 5126 N. Prince St. In total, the portfolio offers 262 non-climate-controlled units, 29 fully enclosed RV and boat units and one office. Situated on 3.2 acres, the portfolio totals 53,880 net rentable square feet. Nathan Coe, Gabriel Coe and Brett Hatcher of Marcus & Millichap represented the seller and procured the buyer in the deal.

April 22, 2025

24011-24031-Marquerite-Pkwy-Mission-Viejo-WA

Acquisitions California Retail Western

Hanley Investment, Walseth Investment Co. Broker $11.6M Sale of Shopping Center in Mission Viejo, California

by Amy Works April 22, 2025

MISSION VIEJO, CALIF. — Hanley Investment Group Real Estate Advisors and Walseth Investment Co. have negotiated the $11.6 million sale of a shopping center located at 24011-24031 Marguerite Parkway in Mission Viejo. Kevin Freeman, Bill Asher and Ed Hanley of Hanley Investment Group represented the seller, a Colorado-based private investment company, while Michael Walseth of Walseth Investment Co. represented the buyer, an Orange County, Calif.-based regional grocery store operator, in the transaction. Built in 1973 on 3.4 acres, the shopping center offers 51,312 square feet of retail space. Current tenants include A Cut Above, Little Caesars and Leslie’s Pool Supplies. The vacant, 37,118-square-foot Orchard Supply Hardware store comprises more than 72 percent of the center’s total square footage. The asset underwent a facade remodel in 2016.

April 22, 2025

California Industrial Loans Western

MMCC Secures $4.3M in Refinancing for Industrial Property in Vista, California

by Amy Works April 22, 2025

VISTA, CALIF. — Marcus & Millichap Capital Corp. (MMCC) has arranged $4.3 million for the refinancing of an industrial building located at 2270 La Mirada Drive in Vista. Kevin Elliott of MMCC secured the financing with a local credit union for the undisclosed borrower. Terms of the 10-year loan include a 6.3 percent interest rate with a 30-year amortization period and a 60 percent loan-to-value. Beacon Building Products, a distributor of roofing, waterproofing and related exterior products in the United States and Canada, occupies the 4,800-square-foot facility.

April 22, 2025

Market Reports Multifamily Utah Western Western Market Reports

Evolving Conditions Bring Optimism to Salt Lake City’s Apartment Market

by John Nelson April 22, 2025

— By Rawley Nielsen and Mark Jensen of Northmarq — The Salt Lake City apartment market has undergone significant shifts over the past few years, shaped by broader economic headwinds and local supply dynamics. Fortunately, optimism is returning to the market as interest rates stabilize, supply is absorbed and buyers see new opportunities to enter at attractive pricing. Over the past 36 months, rising interest rates have created challenges for multifamily investment, which have impacted underwriting and transaction velocity. However, recent weeks have provided a reprieve as Treasury rates have come down, bringing renewed energy to the market. Volatility remains a factor, but there is a growing sense that we are at or near the bottom, leading to increased investor interest. One of the biggest headwinds in Salt Lake City has been the supply wave, particularly in the downtown market where an influx of new multifamily deliveries has made it difficult for buyers to underwrite rent growth. Both 2022 and 2023 brought unit deliveries totaling more than 4,000 units, nearly triple the average annual delivery count from the past 10 years. We saw nearly 3,000 units delivered last year, and our team is tracking a similar amount for 2025. …

April 22, 2025

Acquisitions California Multifamily Western

Presidio Bay Ventures, Artemis Real Estate Buy 121-Unit Olume Multifamily Building in San Francisco

by Amy Works April 21, 2025

SAN FRANCISCO — Presidio Bay Ventures, in partnership with Artemis Real Estate Partners, has acquired Olume, an apartment building located at 1401 Mission St. in San Francisco’s SoMa neighborhood, for $39.7 million. Matt Kroger, Ryan Wagner, Brandon Geraldo and Fatai Alashe of JLL brokered the transaction. The name of the seller was not released. Olume offers 121 studio, one- and two-bedroom apartments and was 95 percent occupied at the time of sale. Community amenities include a 360-degree view rooftop deck, residential lounge, coffee bar, pet park and electric vehicle charging stations. The Main Post will manage the property.

April 21, 2025

Acquisitions California Industrial Western

Sword Industrial Partners Purchases 121,816 SF Expo Centre Industrial Park in Sacramento

by Amy Works April 21, 2025

SACRAMENTO, CALIF. — Dallas-based Sword Industrial Partners has purchased Expo Centre, a seven-building industrial park in Sacramento, from BKM Capital Partners for an undisclosed price. Matt Susac and Todd Sanfillipo of CBRE have been retained as leasing agents for the park. Rebecca Perlmutter of CBRE represented the seller in the deal. Totaling 121,816 square feet, the industrial park offers small-bay suites ranging in size from 1,500 square feet to 6,600 square feet. The asset is located at 1767-1791 Tribute Road. Recent capital improvements at the asset include new roofs, paint, suite reconfigurations, signage and drought-tolerant landscaping. Sword Industrial Partners is actively pursuing multi-tenant, infill industrial assets in the Western United States. The newly formed MAG Capital Partners investment platform is helmed by Scott Word, managing partnering of Sword Industrial Partners.

April 21, 2025

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