Western

Hanley Investment, SRS Real Estate Partners Broker $3.5M Sale of McDonald’s Ground Lease in Azusa, California

by Nellie Day October 27, 2017

AZUSA, CALIF. — Hanley Investment Group Real Estate Advisors and SRS Real Estate Partners have arranged the sale of a single-tenant McDonald’s ground lease in Azusa. A private 1031 exchange buyer acquired the ground lease from a Newport Beach-based private investor for $3.5 million. Built in 2017, the 4,365-square-foot property features a double drive-thru. McDonald’s occupies the property on a 20-year ground lease. Eric Wohl of Hanley Investment and Michael Walseth of SRS represented the seller, while Mark Repstad of Realty Advisory Group represented the buyer in the transaction.

October 27, 2017

Arizona Office Western

ChargePoint Leases 10,000 SF Office Space at Riverwalk at Talking Stick in Scottsdale

by Nellie Day October 27, 2017

SCOTTSDALE, ARIZ. — ChargePoint has leased 10,000 square feet of office space at Riverwalk at Talking Stick in Scottsdale. The lease includes plans for the world’s largest electric vehicle (EV) charging network to install vehicle charging stations at the 176-acre, 1.5 million-square-foot, Class A office campus situated off Loop 101. Eric Walker of Cresa represented ChargePoint. Kurt Rosene of NOVO Development represented the landlord, Alter, in this transaction.

October 27, 2017

Colorado Hospitality Loans Western

Grandbridge Arranges $65M Refinancing for St. Julien Hotel and Spa in Boulder

by Nellie Day October 26, 2017

BOULDER, COLO. — Grandbridge Real Estate Capital has closed a $65 million first mortgage loan to refinance the 201-room St. Julien Hotel and Spa in Boulder. The hotel is located at 900 Walnut St. John Stewart arranged the permanent, fixed-rate loan. One of Grandbridge’s insurance company correspondents provided the funds.

October 26, 2017

Colorado Industrial Western

Eyzenberg & Co. Arranges Equity Partner for Northstar’s $37M Industrial Redevelopment in Broomfield, Colo.

by Nellie Day October 26, 2017

BROOMFIELD, COLO. — Northstar Commercial Partners, with its new equity partner Red Starr Investments, has plans to redevelop a property at 800 Hoyt St. in Broomfield, just east of Boulder. The company is demolishing the existing 110,000-square-foot structure to build a new industrial park on the 20-acre, environmentally remediated site. The finished project will contain two buildings totaling 315,720 square feet of Class A warehouse space. David Eyzenberg and Diana Davidson of Eyzenberg & Co. secured the equity partner for this $37 million development deal.

October 26, 2017

California Multifamily Western

JB Matteson Acquires 130-Unit Tralee Village Apartments in Dublin, California

by Nellie Day October 26, 2017

DUBLIN, CALIF. — JB Matteson has purchased the 130-unit Tralee Village Apartments in Dublin for an undisclosed sum. The community is located at 6599 Dublin Blvd. in the 680 Corridor. Tralee Village was built in 2011 in the East Bay submarket. It offers a range of units including studios, three-bedrooms, lofts and townhomes. Each residence features nine-foot ceilings, granite kitchen countertops, stainless-steel appliances, full-sized washers and dryers, dual-pane windows and patios with balconies. Shared community amenities include a fitness center, large pool, business center, secured underground parking with elevator access and open green space. Tralee Village Apartments is less than a mile from the Pleasanton and Dublin BART stations, as well as interstates 580 and 680.

October 26, 2017

Office Oregon Western

Cushman & Wakefield Remodels Downtown Portland Office

by Nellie Day October 26, 2017

PORTLAND, ORE. — Cushman & Wakefield has completed the remodeling of its long-time office in downtown Portland. The office is located at 200 S.W. Market St. Cushman & Wakefield has resided in the building since 1989. The remodel includes new design enhancements and amenities making for a more collaborative, technologically advanced, functionally efficient and enjoyable workplace. The office features numerous common areas and meeting rooms, two phone booths for private calls, a private wellness room, Skype for Business technology, on-site showers and smart lighting based on occupancy, among other features. The building was initially constructed in 1973. Russell Development completed a $25 million reconstruction of the building in 1990. The firm also installed new on-site amenities earlier this year, including bocce ball courts, and completed an upgrade to the outdoor terrace area. The building is co-managed by Russell Development Co. and Cushman & Wakefield, both of which have offices on the site.

October 26, 2017

Colorado Multifamily Student Housing Western

ARA Newmark Brokers Sale of 151-Bed Student Housing Community in Colorado Springs

by Nellie Day October 26, 2017

COLORADO SPRINGS, COLO. — ARA Newmark has arranged the sale of the Lookout on Cragmor, a 151-bed community located near the University of Colorado-Colorado Springs. Newsome Development sold the Lookout on Cragmor to Student Quarters for an undisclosed price. Ryan Lang, Brandon Buell and Trent Houchin of ARA Newmark represented the seller.

October 26, 2017

California Multifamily Western

Century West Partners Completes 398-Unit Apartment Complex in Los Angeles

by Nellie Day October 25, 2017

LOS ANGELES — Century West Partners has completed the 398-unit Next on Sixth apartment complex in Los Angeles’ Koreatown neighborhood. The community is located at 600 S. Virgil Ave. Next on Sixth features studio to two-bedroom units on a 1.8-acre lot. Amenities include a 70-foot swimming pool, four roof decks with sky lounges, a yoga room, massage room, spa and a two-story gym. KFA designed the community.

October 25, 2017

Industrial Washington Western

Dermody Properties Acquires 777,579 SF Industrial Park in Lacey, Washington

by Nellie Day October 25, 2017

LACEY, WASH. — Dermody Properties has purchased Meridian Campus Corporate Park, a 777,579-square-foot industrial park in the Seattle submarket of Lacey, for an undisclosed sum. The park is located at 9107, 9127 and 9225 Polaris Lane. Meridian Campus Corporate Park contains three Class A buildings that feature 30-foot clear heights. The acquisition also includes 18 acres of land where Dermody plans to develop a new distribution building. The new facility will contain 318,028 square feet with a 36-foot clear height and 80 trailer parking stalls. Construction is expected to begin this November. CBRE’s Monte Decker and Andrew Hitchcock will market the property for lease. Dermody acquired the park from the California State Teachers’ Retirement System (CalSTRS).

October 25, 2017

Colorado Loans Office Western

Bentall Kennedy Receives $52.4M in Acquisition Financing for Office Building in Colorado

by Nellie Day October 25, 2017

ENGLEWOOD, COLO. — Bentall Kennedy has received $52.4 million in financing to acquire a 223,177-square-foot trophy office asset in Englewood. The asset is located at 9151 E. Panorama Circle within the Panorama Corporate Center. The property was built in 2017. It is fully leased to Arrow Electronics. Amenities include an employee kitchen, cafeteria, 8,000 square feet of meeting space, and a fitness center with showers and a locker room. HFF’s Cary Abod and Eric Tupler secured the five-year, 3.41 percent fixed-rate, full-term, interest-only loan through a correspondent life insurance company lender.

October 25, 2017

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