THOUSAND OAKS, CALIF. — Harbor Associates has purchased an office campus in the North Los Angeles submarket of Thousand Oaks for $22.9 million. The Conejo Corporate Campus is a 198,478-square-foot, low-rise office complex located at 2380 & 2400 Conejo Spectrum St. Conejo Corporate Campus recently underwent a significant renovation, including addition of numerous meeting and conference rooms, grand lobbies, a landscaped outdoor plaza, high speed fiber-optic internet and Venetian plastered walls.
PORTLAND, ORE. — Developer Bridge Housing has broken ground on the first phase of RiverPlace Parcel 3, a 203-unit affordable housing project in Portland. Bridge Housing will deliver 90 apartments reserved for households earning less than 30 percent of the area’s median family income (MFI); 10 units dedicated to homeless veterans utilizing the Veteran Affairs Supportive Housing (VASH) program; and the balance going toward families earning 60 percent of MFI. Property amenities include a playground and landscaped courtyard, two laundry rooms, a community room with kitchen and community spaces, resident services office with adjacent program space, a conference room and a community classroom. RiverPlace Parcel 3 is a joint effort between the Portland Housing Bureau and Prosper Portland. The 88,000-square foot parcel on the corner of SW River Parkway and Moody Avenue is owned by Prosper Portland. Bridge was selected to develop the site in 2015.
SAN DIEGO — Providence II Centerpointe has sold a 60,431-square-foot flex industrial building in San Diego for $8.8 million. The building is located at 7720 Kenamar Court. The asset is fully leased to two tenants with long-term leases The buyer was 7720 Kenamar CT Holdings LLC. Colliers International represented Providence in the sale.
BELLINGHAM, WASH. — Evans Senior Investments (ESI) has arranged the sale of Rosewood Villa, a 66-unit assisted living community in Bellingham, for $7 million. Rosewood Villa was built in 1978 and is located approximately 87 miles north of Seattle, near the Canadian border. An independent owner-operator sold the property to a California-based private equity firm. The 40,533-square-foot community averaged 93.9 percent occupancy over the prior 12 months. The sale represents $106,000 per unit and a capitalization rate of 8.5 percent.
LOUISVILLE, COLO. — Plexus has leased 26,500 square feet at Centennial Valley Business Park in Louisville. The two-story, 58,300-square-foot spec office building is located at 168 Centennial Parkway just north of Denver. The building features flexible floorplans, access to multiple fiber optic providers, landscaped grounds and an office campus setting. It is situated just off U.S. Highway 36 in Centennial Valley Business Park, within walking distance to McCaslin Boulevard’s numerous dining and shopping options. The global engineering/manufacturing firm is expanding from its current Louisville location. It will occupy the new space this May. CBRE’s Lee Diamond represented Plexus. The firm’s Frank Kelley, Erik Abrahamson and Joe Faller represented the landlord, Koelbel, in this transaction.
PHOENIX — Optima Inc., the developer and one of the original owners of the 592-unit Optima Sonoran Village, has acquired the luxury apartment community through a new partnership with Principal Real Estate Investors. The partnership acquired Optima Sonoran Village Phases I and II for $200 million from an existing Optima-sponsored venture. This new partnership also will develop Phase III of Optima Sonoran Village. Phase III, the final part of Optima’s vision for Sonoran Village, features a 176-apartment homes in a seven-story tower with a roof-deck amenity. Existing amenities include outdoor pools and spas, a dog park, walking paths and a 19,000-square-foot residents’ club that includes a fitness center, indoor pool and spa, steam rooms and saunas, indoor basketball court, racquetball court, party room and business center. Optima Sonoran Village also features floor-to-ceiling windows and outdoor terraces for each residence, as well as a vertical landscaping system.
VALENCIA, CALIF. — A joint venture between Goldman Sachs Asset Management Private Real Estate (GSAM) and Harbor Associates has purchased Commons at Valencia Gateway, a 157,000-square-foot office building in the Santa Clarita submarket of Valencia. The Class A asset is situated directly off the I-5 freeway. The price was not disclosed. The partnership intends to implement a capital improvement program to refresh vacant suites and upgrade the overall appeal of the property for tenants. It will also introduce environmental initiatives that can improve the property’s brand.
LOS ALTOS, CALIF. — Briggs Development Corp. has purchased a two-story office building in the Silicon Valley submarket of Los Altos. Though the price and square footage were not disclosed, Colliers, which executed the sale, notes the asset sold for nearly $600 per square foot. The building is located at 4410 El Camino Real, near companies like Facebook, Google, Netflix, Apple and Stanford University. Briggs plans to revitalize the Class A project and improve the building and lot. Jason Allen, Dan Bergen and Doug Marks of Colliers represented the seller, a large wealth management client.
NORTH LAS VEGAS — Panattoni Development Co. has purchased a 10.4-acre parcel in North Las Vegas where it plans to build Centennial Corporate Park, a 204,000-square-foot industrial warehouse facility. The land purchase price was not disclosed, but the development is valued at $16 million, according to Panattoni. Centennial Corporate Park will feature cross-dock ware space with 32-foot clear height, ESFR sprinklers, LED warehouse lighting and flexible office build-outs. Construction is expected to begin this April, for completion in December 2018. Centennial Corporate Park is owned by Speedway 10 Industrial LLC, a joint venture between LaSalle Investment Management and Panattoni Development. The general contractor is Alston Construction. The streets are fully improved and offsite work is already completed, which will help crews to meet the aggressive construction schedule. Greg Tassi and Donna Alderson of CBRE will list the available space.
DENVER — Chipotle Mexican Grill’s board of directors has appointed Brian Niccol as CEO and a member of the board, effective March 5, 2018. Niccol most recently served as CEO of Yum! Brands’ Taco Bell division. Prior to joining Chipotle, Niccol was at Taco Bell from 2011 and served as CEO from January 2015 and president from 2013 to 2014. Under his leadership, he repositioned Taco Bell as a lifestyle brand and launched numerous product initiatives, including the new breakfast daypart. He transformed Taco Bell into a social media leader and revolutionized its digital approach through mobile ordering and payment across its 7,000 restaurants. Prior to Taco Bell, Niccol held leadership roles at Pizza Hut, including vice president of strategy, chief marketing officer and general manager. Chipotle opened with a single restaurant in Denver in 1993 and now operates more than 2,400 restaurants. As a result of the move, Julie Felss Masino, president of Irvine, Calif.-headquartered Taco Bell North America, and Liz Williams, president of Taco Bell International, will assume leadership of the Taco Bell division in their respective roles, reporting to Yum! Brands CEO Greg Creed. Masino joined Taco Bell in January 2018 from Mattel and, prior to that, …
