Western

ARA Newmark Brokers $141.5M Sale of 218-Unit Multifamily Community in Denver

by Katie Sloan October 10, 2017

DENVER — ARA Newmark has brokered the $141.5 million sale of Steele Creek, a 218-unit luxury multifamily community located in the Cherry Creek neighborhood of Denver. The community offers studio, one- and two-bedroom units. Shared amenities include a rooftop deck with an infinity pool, spa, fireplace, cabanas, daybeds, high-end grills and dining areas; a clubroom with billiards and a virtual golf/sports simulator; and a business lounge. The property also features ground-floor retail space leased to Matsuhisa Restaurant, AT&T and Drybar. The 12-story development is located across the street from Cherry Creek Shopping Center, home to over 160 retailers including Nordstrom, Neiman Marcus, Macy’s and Restoration Hardware. Terrance Hunt, Shane Ozment, Jeff Hawks, Doug Andrews and Chris Cowan of ARA Newmark represented the seller, Denver-based real estate investment company BMC Investments, in the transaction. The buyer was not disclosed. — Katie Sloan

October 10, 2017

California Industrial Western

Construction Begins on 26-Building Industrial Complex in Temecula

by Nellie Day October 9, 2017

TEMECULA, CALIF. — French Valley Airport Center LLC has started construction of the first two phases of French Valley Airport Center in Temecula. The 26-building industrial project will be situated adjacent to Temecula Valley’s French Valley Airport. The initial two construction phases are slated for completion in June 2018. The buildings will each offer between 4,336 square feet to 7,300 square feet, with the potential to combine some buildings for up to 25,400 square feet. Architects Orange designed the property.

October 9, 2017

California Office Western

Kairos Power Leases 55,757 SF of Office Space at West Tower 9 in Alameda

by Nellie Day October 9, 2017

ALAMEDA, CALIF. — Kairos Power has leased 55,757 square feet of office space at West Tower 9 in Alameda. The office is located at 707 W. Tower Ave. West Tower 9 is a 1940s hanger/manufacturing building undergoing refurbishment on the former Naval Air Station at Alameda Point. The building is part of the Alameda Point revitalization, which includes a 68-acre, $500 million mixed-use development. Kairos Power is an energy technology and engineering company based in Oakland, Calif. Marc Ward and Elisa Konik of Cushman & Wakefield represented Kairos. The firm’s Ted Anderson, John McManus and Andrew Schmieder represented the landlord, Ernst Development, in this transaction.

October 9, 2017

California Retail Western

Charles Dunn Co. Facilitates $5.8M Sale of Single-Tenant Property in Thousand Oaks

by Nellie Day October 9, 2017

THOUSAND OAKS, CALIF. — Charles Dunn Co. has completed the sale of a retail property located at 140 E. Thousand Oaks Blvd. in Thousand Oaks. A Southern California-based private investor sold the retail property to a private investor for $5.8 million. Wells Fargo Bank occupies the 7,396-square-foot building. Kyle Gulock, Matt Kramer and Brian Jensen of Charles Dunn Co. represented the seller in the transaction.

October 9, 2017

California Retail Western

Marinita Development, Sage Invesco Add Three Retailers to Sun Lakes Village in Banning

by Nellie Day October 9, 2017

BANNING, CALIF. — Marinita Development Co. and Sage Invesco have added three new retailers to Sun Lakes Village Shopping Center, located at the intersection of Interstate 10 and Highland Springs Avenue in Banning. Chipotle, Mattress Firm and T-Mobile will occupy the three-tenant, 8,000-square-foot Phase II building at the shopping center. Sun Lakes Village Shopping Center features 210,398 square feet of retail space and 11 outparcels, including this building.

October 9, 2017

California Office Western

Home Franchise Concepts Relocates, Expands in Irvine

by Nellie Day October 9, 2017

IRVINE, CALIF. — Home-based business company Home Franchise Concepts has leased 38,094 square feet of office space in Irvine. The Class A space will allow the company to expand its Orange County headquarters. The new office is located at 19000 MacArthur Blvd. The company is relocating from 25,000 square feet at 1927 N. Glassell St. in the City of Orange. It will occupy the new office in April 2018. Jason Ward and Greg Brown of Cushman & Wakefield represented the landlord, C.M. Stratplan.

October 9, 2017

Colorado Mixed-Use Top Stories Western

P3 Acquires 65-Acre Tract for 900,000 SF Mixed-Use Project in Castle Rock, Colo.

by Taylor Williams October 9, 2017

CASTLE ROCK, COLO. — Development firm P3 Advisors has acquired a 65-acre tract of land in Castle Rock, roughly midway between Denver and Colorado Springs, for the development of Miller’s Landing, a mixed-use project that is expected to generate between $350 million and $500 million in private investment. Miller’s Landing will feature a full-service resort and conference center, retail pad sites, office space and restaurants. Developers estimate that the property will span approximately 900,000 square feet upon completion. The property will also include an undetermined amount of public parking space. The hotel will offer 250 rooms, while the retail and office components could total as much as 250,000 square feet and 480,000 square feet, respectively, according to the Denver Post. Under the terms of the development agreement, the amount of retail development will be limited to 100,000 square feet until the hotel is complete and operating. The full 250,000 square feet of retail space may not be developed until 150,000 square feet of office space has been built. The development site, located at the northwest corner of Interstate 25 and Plum Creek Parkway, is a former landfill situated within Philip S. Miller Park, a 300-acre swath that attracts about 1.5 …

October 9, 2017

California Loans Office Western

MedProperties Holdings Receives $160.6M Acquisition Loan for Medical Office Portfolio

by Nellie Day October 6, 2017

LOS ANGELES — An investment affiliate of MedProperties Holdings has received a $160.6 million loan to acquire a 17-property medical and medical office portfolio that spans 10 states. The portfolio includes a total of 620,000 square feet. The majority of these assets are located off of hospital campuses. MedProperties is a Dallas-based private equity fund that invests in the development and acquisition of healthcare real estate. This includes medical office buildings, ambulatory surgery centers, inpatient rehabilitation facilities and surgical hospitals. MedProperties invests on a direct and an indirect basis through joint venture relationships. The firm develops new, value-add, and stabilized healthcare real estate, including multitenant medical office buildings and single-tenant specialty healthcare facilities. Capital One served as joint lead arranger, sole bookrunner and administrative agent on the loan transaction. Capital One Healthcare is a financial services provider across healthcare sectors, including seniors housing, healthcare services, pharmaceuticals, medical devices, healthcare IT and medical offices.

October 6, 2017

California Office Western

Thai Union North America Relocates in El Segundo

by Nellie Day October 6, 2017

LOS ANGELES — Thai Union North America has relocated to a 33,000-square-foot creative office campus in the Los Angeles submarket of El Segundo. The Class A campus is located at 2100, 2120 and 2150 Grand Ave. inside the Campus 2100 building. The new lease by Thai Union brings the campus to 94 percent occupancy. Travers Cresa represented Thai Union. Chris Sinfield and Tom Sheets of Cushman & Wakefield represented the landlord, a joint venture between Rockwood Capital and Marshall Property & Development, in this transaction.

October 6, 2017

Loans Western

Ready Capital Closes Four Loans Totaling $32.8M in Western States

by Jeff Shaw October 6, 2017

LAS VEGAS, LOS ANGELES AND TUSTIN, CALIF. — Ready Capital Structured Finance, a commercial real estate bridge and mezzanine lender, has closed four acquisition and renovation loans in Nevada and California totaling $32.8 million. In Las Vegas, Ready Capital provided a loan for the acquisition, renovation and stabilization of a 168-unit multifamily property located in the Spring Valley submarket. The borrower’s business plan includes implementing interior unit and common area upgrades, along with exterior property improvements. Ready Capital closed the $15 million non-recourse, fixed-rate loan that features a 48-month term, 24 months of interest-only payments, flexible pre-payment options, and a facility to provide for capital expenditures and interest reserves The first Los Angeles loan is for the acquisition, renovation and stabilization of a 54-unit, multifamily property located in the Mid-City submarket. The borrower’s business plan includes exterior and common area capital improvements, renovating unit interiors, and re-leasing the property at market rental rates. Ready Capital closed the $8 million non-recourse, interest-only loan that features a 36-month term with one extension option, flexible pre-payment, and a facility to provide for capital expenditures, working capital, and interest and carry reserves. The second Los Angeles loan is for the acquisition, renovation and stabilization of a 9,200-square-foot retail …

October 6, 2017

Newer Posts

Older Posts