Western

CCC-Ontario-CA

ONTARIO, CALIF. — Ivanhoé Cambridge and California-based CapRock Partners have broken ground on Phase I of Colony Commerce Center in Ontario. Located at the northeast corner of Carpenter and Remington avenues within the Inland Empire, Colony Commerce Center Phase I will feature 1.3 million square feet of industrial space. The first phase will be divided into two Class A industrial buildings of 589,000 and 700,000 square feet, both with 36-foot clear heights. Additionally, the phase will feature 185-foot-wide truck courts, cross-dock loading, 100 percent concrete drive areas and excess trailer parking stalls. The logistics complex is located in close proximity to corporate neighbors, such as Walmart, FedEx and Amazon, and is within a few miles of retail amenities. CapRock Partners will also develop Phase II of the logistics complex for the Ivanhoé Cambridge. The second phase is adjacent to the first phase on the southwest corner for Archibald and Merrill avenues and will include a 1 million-square-foot, LEED-certified building with 40-foot clear height that anchors eight additional small-box buildings ranging from 35,000 square feet to 45,000 square feet. The second phase will total approximately 1.7 million square feet. Construction on Phase II is slated to begin by year end.

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City-Centre-I-Salt-Lake-City-UT

SALT LAKE CITY — Unico Properties, a subsidiary of Unico Investment Group, has purchased City Centre I, a high-rise tower in downtown Salt Lake City, for an undisclosed price. Located in Salt Lake City’s central business district, the 10-story property features 229,600 square feet of Class A office space. Additionally, the acquisition includes an adjoining 1.8-acre surface parking lot. The building is situated on the TRAX light rail line and offers direct freeway access to Interstate 15, as well as walkability throughout the downtown core. This transaction is Unico’s third investment in the Salt Lake City market, bringing the company’s downtown Salt Lake City portfolio to more than 1 million square feet of space.

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Iridium-Price-Road-Corridor-Chandler-AZ

CHANDLER, ARIZ. — Los Angeles-based Cohen Asset Management has completed the sale of Iridium @ Price Road Corridor, an industrial property in Chandler. Braintree, Mass.-based Bay Capital acquired the property for $16 million. Will Strong of Cushman & Wakefield Capital Markets led the company’s team that represented the seller in the deal. Constructed in 1986 and renovated in 2017, the 69,820-square-foot property is fully air conditioned, provides heavy power and has features a large fenced and secured yard. The asset also includes approximately three acres of vacant land for future expansion. Iridium Communications, a mobile voice and data satellite communications network, is the sole tenant of the property.

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City-View-West-Hollywood-CA

WEST HOLLYWOOD, CALIF. — Newport Beach, Calif.-based Burchette Partners has completed the sale of an apartment complex, located at 1122 N. Hayworth Ave. and 7928 Norton Ave. in West Hollywood. An undisclosed investor acquired the property for $8.3 million, or $429 per square foot. The two-story, 19,354-square-foot building features 16 one-bedroom/one-bath units and eight two-bedroom/two-bath units. Completed in 1960, the property also features two on-site laundry facilities and gated parking. Priscilla Nee and John Montakab of CBRE represented the seller in the all-cash transaction.

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Yale-Wilshire-Medical-Building-Santa-Monica-CA

SANTA MONICA, CALIF. — California Realty Group has arranged the sale of the Yale-Wilshire Medical Building, a mixed-use property located in Santa Monica. Yale Wilshire LTD sold the property to an affiliate of Golden West Properties for an undisclosed price. The 45,881-square-foot medical office building also features 6,700 square feet ground-floor retail space. Mark Esses of California Realty Group represented the seller in the deal.

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Triangle-Center-Longview-WA

LONGVIEW, WASH. — Chicago-based Highlands REIT has completed the sale of Triangle Center, a community shopping center in Longview, approximately 50 miles north of Portland, Ore. A San Diego-based private buyer acquired the property for $38.3 million. Built in 2004, the 260,627-square-foot property was 98 percent leased at the time of sale. Tenants include Winco Foods (not included in the transaction), Ross Dress for Less, Bed Bath & Beyond, Michaels, Petco, Rite Aid, Ace Hardware, ULTA Beauty, Big 5, Office Depot, Five Guys Burgers & Fries, Great Clips and GameStop. The shopping center is situated on 36.9 acres of land at 1015 Ocean Beach Highway. Jimmy Slusher, Kirk Brummer, James Tyrell, Dino Christophilis, Alex Martinac and Philip Voorhees of CBRE represented the seller in the transaction. Additionally, CBRE’s Debt & Structured Finance team led by Shaun Moothart and Danielle Priore advised the buyer in procuring debt financing for the acquisition.

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San-Marino-Retirement-Community-Westminster-CO

WESTMINSTER, COLO. — Marcus & Millichap has arranged the sale of San Marino Retirement Community, located at 5000 W. 75th Ave. in Westminster, a suburb of Denver. A Chicago-based private equity firm acquired the property from a private investor and owner-operator for $32.4 million. Tony Cassie and Sam Thompson of Marcus & Millichap’s Portland, Ore., office facilitated the transaction. Bob Kaplan of Marcus & Millichap’s Denver office is the firm’s broker of record in Colorado. Built in stages between 1987 and 1999, the five-building, 185,871-square-foot property is situated on 9.3 acres and offers independent living, assisted living and memory care residential options for seniors.

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All-Size-Self-Storage-Roseville-CA

FOLSOM AND ROSEVILLE, CALIF. — NAI Horizon has arranged the sale of a two-property self-storage portfolio located in metro Sacramento. Rohnert Park-based L.P.G. Associates sold the properties to Salt Lake City-based Extra Space Properties Two LLC for $31.5 million. The portfolio includes Folsom Parkshore Self-Storage at 185 Parkshore Drive in Folsom, and All Size Self-Storage at 1011 Foothills Blvd. in Roseville. The two assets total 165,920 net rentable square feet and feature 1,109 units. Denise Nunez and David Loui of NAI Horizon Self-Storage Team represented the seller in the deal.

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Central-Utah-Water-Orem-UT

OREM, UTAH — Central Utah Water has purchased the former Xactware campus within Intermountain West in Orem for an undisclosed price. The two-building asset totals more than 92,042 square feet of Class A office space. Central Utah Water’s primary responsibility is to deliver clean, useable water to customers by managing the network of water facilities. The company manages three water treatment facilities in Utah Valley, Ashley Valley and Duchesne County, and administers the sale of water to its customers. Brandon Fugal and Cody Black of Colliers International | Utah brokered the transaction.

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Del-Taco-San-Pedro-CA

SAN PEDRO, CALIF. — Charles Dunn Co. has arranged the acquisition of a newly developed, single-tenant restaurant property located at 359 S. Gaffey St. in San Pedro. A joint venture between Rich Development Enterprises and Paragon Commercial Group sold the property to a Los Angeles-based private investor for $5.5 million in a 1031 exchange. Del Taco occupies 2,420-square-foot property under a newly signed, 20-year, corporate-guaranteed, triple-net lease. Kyle Gulock of Charles Dunn CO. represented the buyer, while Highland Partners Corp. represented the seller in the deal.

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