BRISBANE, CALIF. — DHL Global Forwarding has leased a 76,375-square-foot industrial warehouse building in the San Francisco Bay Area submarket of Brisbane. The building is located at 99 S. Hill Drive. The full complex contains 165,000 square feet on seven acres. The building features 22-foot clear height, 15 loading docks, two grade-level openings, sprinklers and trailer/employee parking. There is immediate access to US 101 and to the Bayshore Commuter Rail. The property is close to San Francisco International Airport and the Port of Oakland. Greig Lagomarsino and Mike Davis of Colliers International represented DHL, while Joe Harney of HCM Commercial Properties represented the landlord in this transaction.
HONOLULU — Honolulu-based Alexander & Baldwin (NYSE: ALEX) has acquired three shopping centers located in Hawaii. Terramar Retail Centers LLC sold the properties for $254 million. The buyer also assumed $62 million in mortgage debt in the transaction. Acquisitions include Laulani Village, Hokulei Village and Pu`unene Shopping Center. Laulani Village is a 175,000-square-foot, community retail center located in Ewa Beach on the island of Oahu. Safeway, Ross Dress for Less, Petco and City Mill anchor the 95 percent leased property. The center is also home to Buffalo Wild Wings, Teddy’s Bigger Burgers, Starbucks Coffee and Panda Express. Hokulei Village is a 103,000-square-foot center located in Lihue on the island of Kaua`i. The center was 97 percent leased at the time of sale to tenants including Safeway, Petco, American Savings Bank, Chevron, Jack in the Box, Domino’s Pizza and Panda Express. Pu`unene Shopping Center is a 113,000-square-foot retail center located in Kahului on the island of Maui. The property was completed in 2017, and is home to tenants including Ulta Beauty, Starbucks Coffee, Petco, Maui Tacos, Massage Envy, Planet Fitness and Verizon. Alexander & Baldwin Inc. owns, operates and manages a portfolio of approximately 87,000 acres in Hawaii, making it the state’s fourth largest …
MIDVALE, UTAH — NKF Capital Markets has arranged the $142 million sale of a 688,549-square-foot portion of The Shops at Fort Union, a shopping center in Midvale, 12 miles south of Salt Lake City. The centers totals more than 830,000 square feet and was 86 percent leased at the time of sale to tenants such as Smith’s Food & Drug, Walmart Supercenter, Dick’s Sporting Goods, Ulta Beauty, Ross Dress for Less, Michaels and DSW. Pete Bethea, Rob Ippolito and Glenn Rudy of NKF Capital Markets, in conjunction with Ben Brown of NKF affiliate Newmark Grubb ACRES, arranged the transaction on behalf of the undisclosed seller. The buyer, CCA Acquisition Co. LLC, was represented internally.
TORRANCE, CALIF. — The Wolff Company has unveiled plans for Revel South Beach, a 185-unit independent living community in the coastal Los Angeles suburb of Torrance. Wolff, an Arizona-based private equity firm and developer, plans to break ground on the community before the end of the 2018 and open the community during 2019. The property is located near many of Southern California’s most notable beaches, including Manhattan, Redondo, Torrance and Palos Verdes. The four-story property will be the 10th seniors housing community Wolff has developed since 2016. The company plans to invest $300 million to $400 million annually in seniors housing developments, in addition to seeking acquisition opportunities.
SANTA ANA, CALIF. — A joint venture between Pacshore Partners and Canyon Partners Real Estate LLC has purchased Harbor Corporate Park in Santa Ana for an undisclosed sum. The park is situated on Harbor Boulevard near the central corridor in the SOCO office market. Harbor Corporate Park contains four two-story buildings set on 8.93 acres with 574 parking spaces. A capital improvement plan will include upgrades to enhance the aesthetic of the property, and a spec suite will be built to market to prospective tenants.
LITCHFIELD PARK, ARIZ. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Hacienda Del Rey, a 90-unit assisted living and memory care community in the Phoenix suburb of Litchfield Park. Hacienda Del Rey is arranged as nine 10-unit buildings surrounding a courtyard. A local developer built the Class A community in 2015. Recognizing the need for a more experienced operator, the developer sold the property to MBK Senior Living, a Southern California-based operator looking to expand its footprint in Arizona. Blueprint’s Jacob Gehl, Amy Sitzman and Giancarlo Riso led the transaction. The price was not disclosed.
PHOENIX — ViaWest Group has purchased three buildings at Blackhawk Corporate Center in Phoenix for $34.2 million. The buildings are located at 20401 N. 29th Ave., 2902 and 3010 W. Agua Fria Freeway. The complex was built in 1997 and 1998. Darren Tappen and Peter Beauchamp of Kidder Mathews and Ryan Timpani of Colliers International, the project’s leasing agent, represented both parties in the transaction. The seller was Cohen Equities.
NORTH HOLLYWOOD, CALIF. — Regent Commercial Holdings has acquired a 33,505-square-foot industrial building in North Hollywood for $6.1 million. The building is located at 13401-13431 Saticoy St. The asset is fully leased. The property features units ranging from 1,800 square feet to 8,600 square feet along with gated and open parking. It was built in 1975. Scott Caswell of Lee & Associates-LA North/Ventura represented both the buyer and seller in this transaction.
LOS ANGELES — Faris Lee Investments has arranged the sale of a retail property located at 959 Crenshaw Blvd. in Los Angeles. Rite Aid occupies the 12,573-square-foot building, which is situated on 1 acre. A Newport Beach-based private seller sold the property to a Beverly Hills-based private buyer for $10 million. Nicholas Coo, Thomas Chichester, Joseph Chichester and Matt Brooks of Faris Lee represented the seller and buyer in an all-cash 1031 exchange.
LAS VEGAS — Dunkin’ Donuts’ has opened two restaurants in the Hard Rock Hotel & Casino in Las Vegas and Biloxi, Miss. Further expanding the Dunkin’ Donuts footprint within rest stops and travel centers, the brand’s franchisees opened a total of 12 travel center restaurants around the country. The company also significantly increased its partnership with Pilot Flying J Travel Centers in 2017, accounting for five of the total 12 locations open throughout the year, with a commitment for an additional 20 in 2018. These new locations expanded the brand’s portfolio to include full-service restaurants, as well as additional self-serve locations. A Dunkin’ Donuts franchisee opened its first non-traditional location at the University of Hawaii in October. Eight restaurants on college and university campuses opened during 2017, including George Mason University in Fairfax, Va.; Binghamton University in Binghamton, N.Y.; and the second restaurant to open in the Air Force Academy in Colorado Springs, Colo .