PHOENIX — Aquafil USA has leased a 116,890-square-foot industrial building in Phoenix. The facility is located at 3555 W. Washington St. It was built in 1991. The company is expanding into the market to increase its nylon fiber operations. Keith Clark and Dave Dixon of Commercial Properties Inc./CORFAC International represented the tenant, while JLL represented the landlord, Colony Northstar, in this transaction.
MURRAY, UTAH — A Seattle-based investor has acquired the 400-unit Lionsgate apartments in Murray or $67.2 million. The community is located at 136 W. Fireclay Ave., eight miles south of Salt Lake City and 40 miles north of Provo. Lionsgate features one- to three-bedroom floorplans that range from 942 square feet to 1,165 square feet. Danny Shin of Marcus & Millichap represented both the buyer and seller, a local owner, in this transaction.
NEWPORT BEACH, CALIF. — A joint venture between The Picerne Group and Shopoff Realty Investments has broken ground on Phase I of Uptown Newport, a 25-acre mixed-use development located in Newport Beach. The first phase of development will include 462 residential units, 218 for-sale condominiums, 6,500 square feet of restaurants and a one-acre public park. Leasing will begin for the residential units in 2019. At completion, the project will feature 1,244 residential units, up to 11,500 square feet of retail and restaurants and two one-acre parks.
RANCHO BERNARDO, CALIF. — CBRE has brokered the sale of Rancho Carmel Village Center, a retail center located at 12125-12165 Alta Carmel Court in Rancho Bernardo. New World Limited Partnership acquired the 27,132-square-foot property from AP-Rancho Carmel LLC for $10.5 million. Situated on 3.3 acres, the property consists of three one-story buildings with a total of 14 tenants. At the time of sale, the center was fully occupied. Reg Kobzi, Joel Wilson and Michael Peterson of CBRE represented the buyer, while Kobzi, Kirk Brummer and Phil Voorhees, also of CBRE, represented the seller in the deal.
SAN DIEGO — The Port of San Diego has issued a request for proposals (RFP) to select a third-party management and operation company on an interim basis for Seaport Village after the current lease expires on Sept. 30, 2018. The port wants to ensure the shopping and dining complex remains a waterfront destination for residents and visitors until the Port’s planned redevelopment of the Central Embarcadero. The presentation to the Board of Port Commissioners is scheduled for Dec. 5. The board selected the 1HWY1 team and their “Seaport San Diego” concept in late 2016 for the redevelopment of the Central Embarcadero, which includes Seaport Village and surrounding areas. The design, planning and permitting will likely take several years due to the size of the redevelopment and uniqueness of some of the proposed programmatic components.
SEATTLE — Amazon has announced plans to open Amazon HQ2, a second company headquarters in North America. The online retailer plans to invest more than $5 billion in construction. The Amazon HQ2 Request for Proposal is now open. The company is looking for a metropolitan area with more than one million people that boasts a stable and business-friendly environment. It is considering both urban and suburban locations with the potential to attract and retain strong technical talent. The new facility will be comparable to Amazon’s current Seattle headquarters, which contains 8.1 million square feet of space within 33 buildings. The new project will not be a satellite office. Amazon estimates its investments in Seattle from 2010 through 2016 resulted in an additional $38 billion to the city’s economy. Every dollar invested by Amazon in Seattle generated an additional $1.40 for the city’s economy overall, according to the company.
PORTLAND ORE. — CareTrust REIT Inc. (NASDAQ: CTRE) has agreed to acquire 13 skilled nursing facilities in three separate transactions for a total purchase price of $97 million. The properties are located in Idaho, Texas, Oregon and Washington. In the first transaction, CareTrust has acquired three skilled nursing facilities in Idaho as part of a staged, seven-facility portfolio transaction. When completed, the full portfolio price will be $65.5 million, which CareTrust funded with cash on hand and its $400 million unsecured revolving credit facility. The full transaction is scheduled for completion by the end of the year. The seven properties, which total 571 beds, will all be added to CareTrust’s master lease with Cascadia Healthcare LLC. CareTrust forecasts an annual cash rent of approximately $5.9 million from the portfolio. In the second transaction, CareTrust acquired Wellspring Health and Rehabilitation of Cascadia, a 53-bed skilled nursing facility in Nampa, Idaho; Secora Health and Rehabilitation of Cascadia, a 120-bed skilled nursing facility in Portland, Ore.; and Brookfield Health and Rehabilitation of Cascadia, an 83-bed skilled nursing facility in Battle Ground, Wash. CareTrust bought the properties for $11.3 million and added all three to the same master lease with Cascadia Healthcare. CareTrust expects …
SANTA CLARITA, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $15.5 million sale of Seco Canyon Village, a 42,134-square-foot shopping center located in Santa Clarita, 35 miles northwest of downtown Los Angeles. CVS/pharmacy anchors the property, which is home to tenants including AIM Mail Center, Papa John’s Pizza, Verizon Wireless and Supercuts. Ed Hanley and Kevin Fryman of Hanley Investment represented both the private 1031 exchange buyer and the seller, a private investor based in Beverly Hills, in the transaction.
TUCSON, ARIZ. — Watermark Retirement Communities has opened The Hacienda at the River, a 129-unit assisted living, memory care and skilled nursing community in Tucson. Development costs were estimated at $21 million. Watermark will operate the community, which it developed in a joint venture with The Freshwater Group. The Weitz Company was the general contractor. The new community features a 74,000-square-foot, two-story health care center offering short-term, long-term and hospice care. Also included are 69 assisted living and memory care units spread over a 43,000-square-foot village of single-story homes. The property also houses a 1,600-square-foot stable to offer equine therapy to residents.
SACRAMENTO, CALIF. — Dick’s Sporting Goods plans to open three new stores in California in the first half of September. The company will have 711 Dick’s locations and 34 Field & Stream locations across the country. The new stores will open in Delta Shores in Sacramento, Stanford Ranch Crossing in Roseville and Solano Town Center in Fairfield.
