Monday, April 6, 2026
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Western

Hanley-Pasadena-CA
AcquisitionsCaliforniaRetailWestern

Hanley Investment Group Brokers $23M Sale of Retail Building in Pasadena

by Amy Works

PASADENA, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $23 million sale of a 39,290-square-foot retail building in Pasadena. Carlos Lopez and Lee Csenar of Hanley Investment Group arranged the transaction on behalf of the seller, AEGON USA Realty Advisors. John Repstad of Realty Advisory Group Inc. represented the buyer, a private investor based in Beverly Hills. The first and second floor of the freestanding building — totaling 27,025 square feet — are triple-net-leased to Walgreens until 2027. Walgreens subleased the 14,057-square-foot second floor to Sit ‘n Sleep. The building’s 12,265-square-foot basement space is leased to Premier Dental Care Group. The sale also included a portion of the parking lot behind the property and the use of the adjacent reciprocal parking managed by the City of Pasadena.

Continue Reading
FacebookTwitterLinkedinEmail
ReadyCap-Peoria-AZ
ArizonaLoansMultifamilyWestern

Ready Capital Arranges $21.5M Refinancing for Multifamily Property Near Phoenix

by Amy Works

PEORIA, ARIZ. — Ready Capital Structured Finance has secured $21.5 million for the refinancing and recapitalization of a multifamily property located in the South Peoria submarket of metro Phoenix. The loan will be used to repay current construction debt, return equity to the undisclosed sponsor and pay for closing costs. Additionally, an earnout is available to the sponsor should certain metrics be achieved. The non-recourse, interest-only, fixed-rate loan features a 36-month term with flexible pre-payment options. At the time of financing, the 153-unit property was 97 percent leased.

Continue Reading
FacebookTwitterLinkedinEmail
CaliforniaDevelopmentRetailWestern

Ross Dress for Less to Open Three New Stores in Greater Los Angeles

by Amy Works

GLENDALE, SOUTH LOS ANGELES AND SANTA FE SPRINGS, CALIF. — Ross Dress for Less will open three stores in downtown Glendale, South Los Angeles and Santa Fe Springs on Oct. 13. The 27,000-square-foot Glendale store is located in the Glendale Marketplace at the corner of North Brand Boulevard and East Broadway; the 30,000-square-foot South Los Angeles location is in the Vermont-Slauson shopping center at the corner of South Vermont Avenue and West Slauson Avenue; and the 23,000-square-foot Santa Fe Springs store is located in Gateway Plaza at the corner of Telegraph Road and Carmenita Road. With these new openings, Ross will operate 300 stores in California for a total of 1,459 locations. Together, Ross Dress for Less and dd’s Discounts currently operate nearly 1,700 off-price apparel and home fashion stores is 38 states, the District of Columbia and Guam. In late August, Ross Stores, the parent company of Ross Dress for Less, signed a lease for 1 million square feet of industrial space at 4100 Express Ave. in Shafter, Calif., within Wonderful Industrial Park, which is owned by Wonderful Real Estate Development. Additionally, the company owns a 1.7 million-square-foot distribution center located near the newly leased facility in Shafter.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsColoradoHospitalityTop StoriesWestern

Ares Real Estate Group Sells Stake in 1,500-Room Colorado Resort for $270M

by Kristin Harlow

AURORA, COLO. — Ares Real Estate Group has sold its investment stake in the Gaylord Rockies Resort & Convention Center in Aurora for $270 million. Slated to open this December, the 1,500-room hotel is located less than 10 minutes from the Denver International Airport. Marriott International Inc. will manage the hotel upon its opening. In addition to 486,012 square feet of convention space, the property will feature a full-service spa, fitness center, pool, several restaurants, a coffee shop and marketplace store. The resort is expected to be the largest combined hotel and convention center in Colorado, according to Ares. Ryman Hospitality Properties Inc. and RIDA Development Corp., the other partners in the development’s joint venture, acquired Ares’ investment stake. The sale comes on the heels of Ares’ announcement last week that its power and infrastructure fund acquired the assets of Irving, Texas-based oil and gas company Paradigm Energy Partners. Ares Real Estate Group is part of Ares Management LP (NYSE: ARES), which has approximately $121.4 billion in assets under management and 18 offices worldwide. Ryman (NYSE: RHP) owns four resorts totaling 8,114 rooms that are managed by Marriott under the Gaylord Hotels brand. Ryman also owns other Marriott-branded hotels as …

Continue Reading
FacebookTwitterLinkedinEmail
Marriott-Autograph-Scottsdale-AZ
ArizonaDevelopmentHospitalityLoansWestern

HALL Structured Finance Secures $53M Construction Loan for Hotel Expansion in Scottsdale, Arizona

by Amy Works

SCOTTSDALE, ARIZ. — Dallas-based HALL Structured Finance has closed a $53 million construction loan to finance the expansion, redevelopment, flagging and rebranding of CopperWynd Resort, located at 13225 N. Eagle Ridge Drive in Scottsdale. The existing 32-room property will be converted into the 177-room Marriott Autograph Scottsdale Resort. Bill Hinz is redeveloping the property, which is slated to open by fourth-quarter 2019. Located in the McDowell Mountains, the existing property features a full-service spa and 26,500 square feet of lobby and common areas, including a fitness center, two pools, a pool café, tennis facilities and Flourish Restaurant. As part of the renovation, the existing 32 rooms will be refreshed and 145 rooms and 12,000 square feet of meeting space will be added to the resort. Malcolm Davies of George Smith Partners sourced the financing for the project.

Continue Reading
FacebookTwitterLinkedinEmail
McClellan-Distribution-Center-Sacramento-CA
CaliforniaDevelopmentIndustrialWestern

McClellan Park Breaks Ground on 417,000 SF Distribution Warehouse in Sacramento

by Amy Works

SACRAMENTO — McClellan Business Park LLC has broken ground on McClellan Distribution Center, a speculative warehouse facility located at 2400 McClellan Park Drive in Sacramento. Slated for completion in mid-2019, the 417,214-square-foot Class A property will be divisible and able to accommodate up to 22,000 square feet of customizable office space. Additionally, the property will feature cross-dock loading with 135-foot truck courts, 95 dock doors, four grade-level doors, 36-foot clear heights, 50-foot by 54-foot column spacing, rail spur potential (Union Pacific Railroad and BNSF Railway) and ESFR sprinklers. The property is being constructed on 22.9 acres on McClellan Park’s west side industrial district. McClellan Park LLC has more than 500 acres of developable land in this specific district and is entitled to construct more than 5 million square feet of industrial space. Since the official closure of McClellan Air Force Base in 2001, the privatized McClellan Park has grown to include a mix of companies that span its 8.5 million square feet of leasable space and 500 acres of developable land. A total of $580 million has been invested across the project in infrastructure and building improvements. The project includes a mix of residential, office, warehouse, event venue, retail and …

Continue Reading
FacebookTwitterLinkedinEmail
Flagstone-Apt-Homes-Tempe-AZ
AcquisitionsArizonaMultifamilyWestern

Greystar Acquires 376-Unit Flagstone Apartment Homes in Tempe, Arizona

by Amy Works

TEMPE, ARIZ. — Greystar has purchased Flagstone Apartment Homes, a multifamily asset located 30 W. Carter Drive in Tempe. RedHill Realty Investors and its joint-venture partner sold the asset for an undisclosed price. Situated on nearly 18 acres, the property features 376 units in a mix of studio, one- and two-bedroom layouts. The 248,912-square-foot asset was built in 1985. Cliff David of Marcus & Millichap and Steve Gebing of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in deal.

Continue Reading
FacebookTwitterLinkedinEmail
Ready-Capital-Midvale-Utah
LoansMultifamilyUtahWestern

Ready Capital Closes $9.5M Loan for Apartment Complex in Metro Salt Lake City

by Amy Works

MIDVALE, UTAH — Ready Capital Structured Finance has secured a $9.5 million loan for the acquisition, renovation and stabilization of an apartment complex located in the Union Park District of Midvale. The undisclosed borrower plans to renovate the 96-unit property. The plan includes interior upgrades to most units, the addition of a swimming pool to the courtyard, the construction of a new leasing office and fitness center, and various other capital improvements. The non-recourse, part floating-rate/part fixed-rate loan features a 60-month term, flexible pre-payment terms and is inclusive of a facility to provide future funding for capital expenditures and working capital reserves.

Continue Reading
FacebookTwitterLinkedinEmail
Greenway-Crossings-Surprise-AZ
AcquisitionsArizonaRetailWestern

Colliers Brokers Sale of 66,516 SF Retail Center in Metro Phoenix

by Amy Works

SURPRISE, ARIZ. — Colliers International has arranged the sale of Greenway Crossings, a lifestyle retail center located at 16572-16630 W. Greenway Road in Surprise. Cedar Rapids, Iowa-based Transamerica Life Insurance Co. (Aegon USA Realty Advisors) sold the property to Phoenix-based Rose Garden III PL for an undisclosed price. Mindy Korth, Kirk Kuller and John Jackson of Colliers represented the seller, while Jim Edwards of Scottsdale-based Rein and Grossoehme Commercial Real Estate represented the buyer in the transaction. Built in 2006, the property features 66,516 square feet of retail space. The sale included three retail buildings and three undeveloped retail parcels. At the time of sale, the property was 85 percent leased.

Continue Reading
FacebookTwitterLinkedinEmail
Knight-Cancer-Research-Bldg-Portland-OR
DevelopmentOfficeOregonWestern

Joint Venture Completes $190M Cancer Research Building in Portland

by Amy Works

PORTLAND, ORE. — The construction joint venture team of McCarthy Building Cos. and Andersen Construction, along with SRG Partnership and Oregon Health & Science University (OHSU), has completed the Knight Cancer Research Building on OHSU’s campus. The $190 million research and development conference center facility features 320,000 square feet of space, with science and data analysis offerings on each floor to maximize interaction and the potential of deeper innovation and idea sharing. The facility also features open-air balconies, communicating stairs, a rooftop terrace and a central collaboration kitchen.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts