REDMOND, WASH. — WoodSpring Hotels has opened the 120-room WoodSpring Suites Seattle Redmond. West 77 Partners LLC developed the hotel, which WoodSpring Hotels Property Management will operate. Each room contains an in-room kitchen equipped with a full-size refrigerator, two-burner stovetop and microwave. The hotel is pet-friendly and offers free wireless Internet, vending machines and guest laundry. The hotel is located at 7045 180th Ave. NE in Redmond. It is situated near Microsoft’s office campus.
FONTANA, CALIF. — Faris Lee Investments has arranged the $3.2 million sale of a newly developed, 2,500-square-foot property triple-net-leased to Starbucks Coffee in Fontana. Christopher DePierro and Jeff Conover of Faris Lee arranged the transaction on behalf of the seller, Puente Hills Power Center LLC. Matt Brooks of Faris Lee represented the buyer, Fata Organization LLC. The single-tenant property is an outparcel of Palm Court Center, a 630,000-square-foot power center anchored by Super Target, Ross Dress for Less, T.J. Maxx and 24 Hour Fitness.
BROOMFIELD, COLO. — Invesco Advisers has purchased a 186,231-square-foot office building in Broomfield for $47.1 million. The building is located at 105 Edgeview Drive. The asset is fully leased, with the anchor tenant being Gogo, an in-flight internet and entertainment provider. The newly built property, known as Gogo Building at Interlocken, was developed by Hines and designed by Forum Architects. It is the first phase of Hines’ EOS at Interlocken office campus development. NKF represented Hines in this transaction.
SEATTLE — Ziegler has closed $75 million in bond financing for Horizon House, a 482-unit continuing care retirement community (CCRC) in downtown Seattle. Horizon House is a nonprofit community affiliated with the Pacific Northwest Conference of the United Church of Christ. The property is home to more than 540 residents in 378 independent living apartments, 80 assisted living apartments and 25 memory care apartments. Horizon House will use the proceeds of the bonds to pay off $56.5 million in outstanding bonds from 2014 and fund renovations.
FULLERTON, CALIF. — Independent Trading Co. has purchased a 181,069-square-foot industrial property in Fullerton for $32.5 million. The building is located at 4150 N. Palm St. The asset features amenities like 6,984 square feet of office space, 32-foot clear height, dock-high loading, a large truck court and ESFR sprinkler system. Independent Trading Co. is relocating to North Orange County from Whittier. DAUM Commercial Real Estate Services represented the buyer, while CBRE represented the seller, Western Realco, in this transaction.
PORTLAND, ORE. — A joint venture between Goldman Sachs Asset Management Private Real Estate and HP Investors has acquired a two-property office portfolio in Portland for an undisclosed sum. The properties included in the transaction are Block 90 and 300 Building. The portfolio contains a total of 85,753 square feet. The assets are situated adjacent to one another. They comprise an entire block in the Pearl District and are listed on the National Historic Register. The JV plans to maintain the boutique creative office space that caters to demand from a wide range of tenants in the marketplace looking for authentic, repurposed office space.
SACRAMENTO, CALIF. — A fund sponsored by Shorenstein Properties has purchased U.S. Bank Tower, a 366,000-square-foot office building in Sacramento, for an undisclosed sum. The 25-story tower is located at 621 Capitol Mall. U.S. Bank Tower is situated immediately south of the Golden One Center, which opened in late 2016, and three blocks west of the state capitol. The property also features more than 23,000 square feet of fully occupied retail and restaurant space, including Morton’s the Steakhouse, and a large parking structure that services both the property and the Golden One Center. JLL represented the sellers, David S. Taylor Interests and Britannia Pacific Properties, in this transaction.
CAMPBELL, CALIF. — Vista Investment Group has acquired Vasona Technology Park, a 314,256-square-foot office campus in the Silicon Valley submarket of Campbell, for $113 million. The campus is situated on an 18.5-acre site bordered by Winchester Boulevard, East Hacienda Avenue and Dell Avenue. Vasona Technology Park is fully leased to tenants like the Kaiser Foundation Health Plan and ChargePoint. Vista plans to reposition the older buildings at the park into a more creative office standard, using the expansive campus setting featuring one of the largest contiguous land sites in the area.
DENVER — TH Real Estate has purchased a three-property industrial portfolio in Denver for $50 million. The transaction contains a total of 485,984 square feet. The assets include two infill properties at 6400 Broadway and Bryant Street Quad in central Denver, as well as a large-scale, high-bay industrial property at 16600 Table Mountain in west metro Denver. The properties are fully leased. TH Real Estate is an affiliate of Nuveen, the investment arm of TIAA. NKF’s John Jugl Jr., Paul Donahue and Bret Hardy represented the seller, an institutional owner, in this transaction.
VAN NUYS, CALIF. — SRS Real Estate Partners has arranged the $6.1 million sale of a 20,600-square-foot Crunch Fitness location in Van Nuys. The building co-anchors an inline strip center, which is home to tenants including Jons International Marketplace, Fallas and Dearden’s. Crunch Fitness opened in July of 2017, committing to a 15-year lease. The San Fernando Valley Business Journal reports Fortunate Realty acquired the asset. Matthew Hardke, Matthew Mousavi and Patrick Luther of SRS arranged the transaction on behalf of the undisclosed seller.