Western

NAI Horizon Negotiates $10.8M Sale of Self-Storage Facility in Metro Phoenix

by Amy Works May 10, 2018

BUCKEYE, ARIZ. — NAI Horizon has arranged the sale of a self-storage facility, located at 24901 W. Yuma Road in Buckeye, a western suburb of Phoenix. A California-based buyer acquired the property from Storage American DBA Store-All America RV and Self-Storage for $10.8 million, or $100.39 per square foot. Situated on 9.1 acres, the 107,130-square-foot facility features 638 drive-up self-storage units and 240 outdoor RV parking spaces. Additionally, the sale included a U-Haul moving truck business. Denise Nunez of NAI Horizon represented the buyer and seller in the transaction.

May 10, 2018

Acquisitions California Restaurant Retail Western

Faris Lee Brokers $3.8M Acquisition of Two-Tenant Restaurant Building in Los Banos, California

by Amy Works May 10, 2018

LOS BANOS, CALIF. — Faris Lee Investments has arranged the purchase of a two-tenant restaurant building located at 1335 W. Pacheco Ave. in Los Banos. LFG Los Banos LLC sold the property to a to a Newport Beach-based private investor. Shaun Riley of Faris Lee represented the buyer, while John Andreini of Capital Pacific represented the seller in the deal. Built in 2017, the 5,500-square-foot property includes one drive-thru and 39 parking spaces. The building is fully occupied by Blaze Pizza and Habit Burger, both quick-serve restaurants.

May 10, 2018

Acquisitions California Healthcare Western

Easterly Government Properties to Purchase 90,085 SF VA Outpatient Clinic in San Jose

by Amy Works May 9, 2018

SAN JOSE, CALIF. — Easterly Government Properties has agreed to acquire a Department of Veterans Affairs (VA) Outpatient Clinic known as VA – San Jose. Completed in first-quarter 2018, VA – San Jose is part of the VA Palo Alto Health Care System and leased to the VA for an initial, non-cancellable lease term of 20 years through February 2038. The three-story, 90,085-square-foot facility consists of medical clinic and administrative space, offering primary care, mental healthcare, women’s health, audiology, speech pathology, podiatry, optometry and dermatology services. The name of the seller and acquisition price were not disclosed.

May 9, 2018

Acquisitions Multifamily Oregon Seniors Housing Western

1031 Crowdfunding Acquires Memory Care Facility in Oregon for $14M

by Amy Works May 9, 2018

HILLSBORO, ORE. — 1031 Crowdfunding, through a joint venture with Seasons Management LLC, has acquired Rosewood Specialty Care, a 48-bed memory care facility in Hillsboro, a suburb of Portland. An affiliate of Frontier Management will operate the 44-unit, 22,950 square foot facility. Frontier has managed the property since 2008, with an average occupancy of 93.8 percent. The purchase price was $14 million. “Seniors housing has already outperformed other noted real estate sectors and we believe it will continue to be a favorable opportunity due to impressive demographic fundamentals,” says Edward Fernandez, founder and CEO of 1031 Crowdfunding. “We are particularly excited about the memory care sector.” 1031 Crowdfunding LLC is an online marketplace where real estate investors can find, view and purchase a variety of available, turn-key, investment-grade properties.

May 9, 2018

Acquisitions Industrial Washington Western

Wells Fargo Wealth Management Buys 94,739 SF Industrial Complex in Metro Seattle

by Amy Works May 9, 2018

SEATAC, WASH. — Wells Fargo Wealth Management has purchased Olympic Industrial Park, a two-building, 94,739-square-foot industrial complex located in SeaTac, a suburb of Seattle. Avenue 55, on behalf of an undisclosed 1031 exchange buyer, sold the asset for $12.9 million. At the time of sale, the 75,588-square-foot property located at 19111 Des Moines Memorial Drive was fully leased to a variety of tenants, including Alaska Airlines/Horizon Air, Seattle Air Cargo and BlueStar Refreshment Services. Built in 1983, the building features 26 loading dock doors, seven grade levels and 20-foot clear heights. The second building, located at 1200 S. 192nd St., is a 20,548-square-foot office property built in 1983 and renovated in 2015. At the time of sale, International Rescue Committee, Carmichael International Service, Argent Express Group and Sea & Air Transport occupied the property. Scott Alan and Patrick Mullin of Colliers International represented the seller in the deal.

May 9, 2018

Acquisitions California Retail Western

Sands Investment Group Negotiates $4.1M Sale of Panera Bread-Occupied Property in Fresno

by Amy Works May 9, 2018

FRESNO, CALIF. — Sands Investment Group (SIG) has arranged the sale of a retail property located at 6793 N. Weber Ave. in Fresno. A regional merchant developer sold the property to an undisclosed buyer for $4.1 million. Panera Bread occupies the newly constructed, 4,300-square-foot retail property under a 15-year, triple-net lease. John Cigliano of SIG’s Santa Monica office represented the seller in the transaction.

May 9, 2018

Acquisitions Colorado Office Western

Pinnacle Real Estate Brokers $2.3M Sale of Office Building in Pueblo, Colorado

by Amy Works May 9, 2018

PUEBLO, COLO. — Pinnacle Real Estate Advisors has arranged the sale of an office building, located at 720 N. Main St. in Pueblo. An undisclosed buyer acquired the property for $2.3 million, or $55.39 per square foot. The building features 41,524 square feet of office space. Andrew Monette and Jeff Johnson of Pinnacle represented the undisclosed buyer, while Jamie Mitchell and Michael Krebsbach, also of Pinnacle, represented the seller in the deal.

May 9, 2018

Acquisitions California Hospitality Western

HFF Brokers Sale of 283-Room Hotel MdR in West Los Angeles

by Amy Works May 8, 2018

LOS ANGELES — HFF has arranged the sale of Hotel MdR – a DoubleTree by Hilton Hotel located at 13480 Maxella Ave. in West Los Angeles’ Marina del Rey submarket. Lubert-Adler, Channel West Group and Arris Investment sold the 283-room hotel to U.K.-based London & Regional Properties for an undisclosed price. Hotel MdR was renovated and repositioned as a soft-branded DoubleTree Hotel in 2014. The property features an outdoor heated pool and patio, fitness facility, 24/7 business center, market, energy room with ping-pong table, 5,429 square feet of indoor/outdoor event space and Barbianca Local Kitchen. Tony Malk, Scott Hall and Aaron Lapping of HFF represented the seller in the deal. Additionally, Brad Greenway, Kevin MacKenzie and Matthew Stewart of HFF arranged a five-year, floating-rate loan with a Germany-based lender for the buyer.

May 8, 2018

Acquisitions New Mexico Retail Western

SVN|Chicago Negotiates $9.1M Sale of Retail Property Ground Lease in New Mexico

by Amy Works May 8, 2018

FARMINGTON, N.M. — SVN|Chicago Commercial has arranged the sale of retail ground lease located at 3560 E. Main St. in Farmington. An institutional buyer acquired the property from a private investment group for $9.1 million. The Home Depot occupies the property on an absolute triple-net lease basis. Tim Franz of SVN|Chicago Commercial represented the seller in the transaction.

May 8, 2018

Arizona Development Multifamily Seniors Housing Western

Foresight, W.E. O’Neil to Break Ground on 80,000 SF Assisted Living Community in Arizona

by Amy Works May 8, 2018

GILBERT, ARIZ. — Foresight Senior Living Development LLC and W.E. O’Neil Construction Co. will break ground May 9 on Eternal Spring of Gilbert Senior Living Community in Gilbert, a suburb of Phoenix. The 80,000-square-foot community will offer 59 assisted living apartments and 36 memory care apartments. The groundbreaking ceremony will feature Vice Mayor Bridgette Peterson of the Town of Gilbert; Earl Kaplan, Lily Cheng and Jack Cheng of Foresight; Linda Edwards and Nathan Williams of the Town of Gilbert Planning Department; Bryan Dunn of W.E. O’Neil Construction Co. of Arizona; Joel Saurey and Tom Snyder of EPS Group; and other Town of Gilbert leaders and business leaders.

May 8, 2018

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