Western

Avison Young Negotiates $4.8M Sale of Multi-Tenant Industrial Building in Cathedral City, California

by Amy Works May 3, 2018

CATHEDRAL CITY, CALIF. — Avison Young has arranged the sale of a multi-tenant industrial building located at 68945 Perez Road in Cathedral City. North First Street Properties LP sold the property to Cathedral City 2 LLC for $4.8 million. Built in 1989, the 29,400-square-foot property is situated on 1.7 acres of land with frontage and access along Perez Road. At the time of sale, the property was full leased to a variety of tenants, including Caliber Collision Centers, Su Casa Imports and additional space entitled for cannabis manufacturing. Keith Kropfl and Michael Ganz of Avison Young, along with Thom Olson of Creatus Properties, represented the buyer, while Coldwell Banker represented the seller in the transaction.

May 3, 2018

Acquisitions California Retail Western

Starboard Commercial Brokers $4.5M Sale of Retail Property Near Sacramento

by Amy Works May 3, 2018

ROSEVILLE, CALIF. — Starboard Commercial Real Estate has arranged the sale of a retail property located at 318 N. Sunrise Ave. within Centre Pointe Regional Shopping Center in Roseville, a suburb of Sacramento. A San Francisco-based investor acquired the property for $4.5 million. Pet Club currently occupies the 24,750-square-foot building. Richard Gumbiner of Starboard Commercial Real Estate brokered the transaction.

May 3, 2018

Acquisitions Arizona Industrial Leasing Activity Western

Brennan Investment Group Completes Acquisition, Leaseback of 79,968 SF Industrial Facility in Phoenix

by Amy Works May 3, 2018

PHOENIX — Brennan Investment Group has acquired a two-building industrial facility, located at 4245 N. 40th Ave. in Phoenix, for an undisclosed price. The 79,968-square-foot property was simultaneously leased back to the seller, F&B Manufacturing, a provider of parts for the aerospace, automotive, power generation and semi-conductor industries. F&B Manufacturing uses the facility at its headquarters and for manufacturing and distribution.

May 3, 2018

Acquisitions California Multifamily Western

Bascom Group Purchases 123-Unit Apartment Complex in Southern California for $33.3M

by Amy Works May 2, 2018

COSTA MESA, CALIF. — The Bascom Group has acquired Sunset Cove Apartments, an infill multifamily community located in Costa Mesa. The company purchased the property for $33.3 million, or $270,731 per unit. Built in 1970, Sunset Cove features 123 apartments. Brian Eisendrath, Annie Rice and Brandon Smith of CBRE arranged the debt financing for the acquisition, while Jim Fisher, Jeff Rowerdink, Joe Leon and Mike Smith of Berkadia brokered the transaction. The name of the seller was not released.

May 2, 2018

Acquisitions Multifamily Oregon Western

Trion Properties Acquires Three Multifamily Properties Near Portland for $24.2M

by Amy Works May 2, 2018

BEAVERTON AND TIGARD, ORE. — Trion Properties has purchased three multifamily properties totaling 174 units in metro Portland. The acquisitions include a two-property portfolio in Beaverton and a 71-unit multifamily community in Tigard. In Beaverton, Trion purchased the 41-unit Menlo Square, located at 5930 SW Menlo Drive, for $5.7 million, and the 62-unit Center Square Apartments, located at 12310 SW Center St., for $8.5 million. Continental Partners arranged $4.8 million and $7.7 million in acquisition financing for the purchases, respectively. Cody Hagerman and Tyler Johnson of HFO represented the buyer and seller, a private seller, in the portfolio transaction. Additionally, Trion acquired Maple Tree Apartments, a 71-unit property located at 10890 SW Canterbury Lane in Tigard. A private seller sold the property for $10.1 million. Continental Partners arranged a $8.1 million loan for the acquisition. Liz Tilbury and Ben Murphy of Tilbury Ferguson Investment Real Estate represented the buyer and seller in the deal.

May 2, 2018

Velocity-Sequoia-Station-Redwood-City-CA

Acquisitions California Multifamily Western

Levin Johnston Negotiates $15M Sale of Apartment Community in Redwood City, California

by Amy Works May 2, 2018

REDWOOD CITY, CALIF. — Levin Johnston has arranged the sale of Velocity at Sequoia Station, a multifamily community located at 1331 Jefferson Ave. in Redwood City. Old Adobe Management Co. sold the property to a private owner and investor for $15 million. The property features 30 apartment units. Adam Levin and Robert Johnston of Levin Johnston represented the seller and buyer in the 1031 exchange transaction.

May 2, 2018

Development Multifamily Seniors Housing Washington Western

Capitol Seniors Housing Completes Renovations of Four Communities in Seattle

by Amy Works May 2, 2018

SEATTLE — Capitol Seniors Housing, a Washington, D.C.-based private equity firm, has completed renovations to four of its independent living and assisted living communities in the Seattle metro area. MBK Senior Living, based in Irvine, Calif., operates all four properties. The communities include Northgate Plaza, Mountlake Terrace, The Creekside and Island House. Renovations included the addition of wine/coffee bistro areas, activity spaces, fitness rooms, game rooms and libraries. Interior work included new furniture, fixtures, flooring, paint, cabinets and lighting upgrades. Community exteriors received fresh paint and landscaping. Residential suite renovations included new paint, flooring, quartz countertops, stainless steel appliances and light fixtures.

May 2, 2018

Acquisitions Hospitality New Mexico Western

Marcus & Millichap Arranges Sale of Motel 6 in Albuquerque

by Amy Works May 2, 2018

ALBUQUERQUE — Marcus & Millichap has brokered the sale of a Motel 6, located at 1701 University Blvd. NE in Albuquerque. The 117-room property, which was renovated in 2015, sold for an undisclosed price. Allan Miller, Chris Gomes and Joseph Jaques of Marcus & Millichap’s Dallas office represented the seller, a limited liability company, and buyer, another limited liability company. Matthew Reeves of Marcus & Millichap was the broker of record in New Mexico.

May 2, 2018

California Development Industrial Western

Conor Commercial, ARA Break Ground on 814,852 SF Industrial Building in Bay Area

by Amy Works May 1, 2018

FREMONT, CALIF. — Conor Commercial Real Estate and American Realty Advisors (ARA) have broken ground on Pacific Commons Industrial Center, a distribution center located at the southwest corner of Cushing Parkway and Bunche Drive in Fremont. Slated for completion in second-quarter 2019, the 814,852-square-foot logistics and fulfillment center will feature 36-foot clear heights, cross-dock configurations, an ESFR sprinkler system, 141 dock doors, 143 trailer parking stalls and flexible office space. Designed to achieve LEED Silver certification, the property will also feature 68 electric vehicle charging stations. Situated on 41 acres, the property is in close proximity to interstates 880 and 680, Warm Springs BART station and Pacific Commons Shopping Center. The developers have retained Rob Shannon, Chip Sutherland and Doug Norton of CBRE to market the property for lease.

May 1, 2018

Acquisitions Nevada Retail Western

Colliers Brokers $12.4M Sale of Retail Property in Las Vegas

by Amy Works May 1, 2018

LAS VEGAS — Colliers International has arranged the sale of a retail property located at 2827 Paradise Road in Las Vegas. Stirling Club LLC acquired the property from JDLB LLC for $12.4 million. Stirling Club occupies the 73,576-square-foot property. Chris Clifford, Steve Neiger and Brett Rather of Colliers represented the seller in the deal.

May 1, 2018

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