SAN FRANCISCO — Store closing sales are underway at select Perfumania store locations. The nationwide sale is being conducted by Gordon Brothers and its joint venture partner, Hilco Global. Perfumania, one of America’s largest fragrance retailers, filed for Chapter 11 bankruptcy protection on August 26, 2017 as part of a recapitalization. While Gordon Brothers and Hilco Global will be liquidating the inventory for 65 stores nationwide, Perfumania will continue operating over 150 of its stores. West Coast locations set to close include: Anchorage 5th Avenue Mall in Anchorage, Alaska Tucson Mall in Tucson, Ariz. Paradise Valley Mall in Phoenix Chandler Fashion Center in Chandler, Ariz. Tucson Premium Outlets in Tucson, Ariz. Serramonte Center in Daly City, Calif. Las Americas Premium Outlets in San Diego The Outlets at Orange in Orange, Calif. Outlets at San Clemente in San Clemente, Calif. The Oaks Mall in Thousand Oaks, Calif. Camarillo Promenade in Camarillo, Calif. Plaza West Covina in West Covina, Calif. Desert Hills Premium Outlets in Cabazon, Calif. Gilroy Premium Outlets in Gilroy, Calif. Westfield Palm Desert in Palm Desert, Calif. Westfield San Francisco Centre in San Francisco Chula Vista Center in Chula Vista, Calif. Fashion Outlet of Las Vegas in Primm, Nev. …
AURORA, COLO. — Majestic Realty Co. has broken ground on a 701,900-square-foot speculative warehouse/distribution facility in Aurora. Nicknamed the “Big Bomber,” the building will be the state’s largest facility of its kind once it’s completed in early 2018. The building is being constructed on 36 acres at the 1,500-acre Majestic Commercenter, situated at the intersection of I-70 and Tower Road. It will feature 36-foot ceiling clearance, 146 dock doors, 198 trailer parking spaces and 426 car spaces. Designed for larger users, the facility will be divisible for multiple tenants who require as little as 150,000 square feet. Majestic has been Aurora’s largest industrial developer over the past two decades.
SAN DIEGO — CBRE has announced that Young Hickory — a café offering local coffee, craft beer, breakfast and lunch — will open a 1,577-square-foot location at IDEA1, a mixed-use development by Lowe Enterprises, LaSalle Investment Management and I.D.E.A. Partners in San Diego’s East Village neighborhood. The development, which opens in December, will feature a mix of apartment homes, live/work lofts, retail and an outdoor collaborative workplace. CBRE’s Reg Kobzi and Michael Peterson represented the tenant and the landlord, IDEA1 Property LLC, on the 10-year lease.
OCEANSIDE, CALIF. — Capital One has provided a $49.8 million loan to refinance the 358-unit Riverview Springs apartments in Oceanside. The community is located at 4398 Rainier Way. Riverview Springs was built by Spruce Grove in 1990. The 10-year, fixed-rate, interest-only, Freddie Mac loan has standard defeasance prepayment. Chuck Christensen originated the financing.
SACRAMENTO, CALIF. — Pathfinder Partners has acquired the 195-unit Savannah Court apartments in Sacramento for $22 million. The community is located at 4337 Norwood Ave. The 24-buillding community was built in 1986. Amenities include a fitness center, swimming pool and spa and a tennis court. CBRE’s Marc Ross represented both Pathfinder and the seller in this transaction.
CHANDLER, ARIZ. — IPT Acquisitions has purchased a 91,204-square-foot last-mile logistic center in Chandler for $10.7 million. The center is located at 550 E. Elliot Road. Amazon occupies the property. Will Strong, Mike Haenel, Andy Markham and Phil Haenel of Cushman & Wakefield represented the seller, Globe Management Co., in this transaction.
PHOENIX — Mark Spitz, a New York-based multifamily owner and investor, has acquired the 96-unit Los Compadres Apartments in Phoenix for $4.5 million. The community is located at 3518 W. Dunlap Ave. Carrick Sears of SVN Desert Commercial Advisors represented the Canadian seller, Pat Stojak, in this transaction. The seller purchased the asset in 2013.
LOS ANGELES — Paradigm Talent Agency has leased 83,000 square feet of office space in Beverly Hills. The space is located at 8942 Wilshire Blvd. within the Wilshire La Peer Building. Paradigm will use the entire building for its headquarters, with plans to move in during spring 2018. The company plans to make capital renovations to the property. The agency is consolidating three locations into one space. NKF’s Michael Moll, CBRE’s Jeff Pion and BCRS’s Willa McNamarra Fields represented the talent agency, while LA Realty Partner’s Peter Best, Lisa St. John and Rick Buckley represented the building owners, Ocean West and Walton Street, in this transaction.
TEMPE, ARIZ. — Weidner Apartment Homes has purchased The Lofts at Rio Salado, a 466-unit multifamily community located at 1033 N. Parkside Drive in Tempe, for $75.5 million. The Kirkland, Wash.-based apartment investor acquired the asset from an unnamed wealth and asset management services firm. The Lofts at Rio Salado is situated adjacent to the Center Parkway/Washington Street metro station and the 3.2 million-square-foot, mixed-use Grand at Papago Park Center. Arizona State University is within walking distance and downtown Phoenix is within 10 miles radius of The Lofts. Community amenities include two swimming pools with cabanas, an onsite recycling program, business center, clubhouse, fitness center, spas and conference room. Units range from studio to three-bedroom floor plans and command rents from $999 to $1,460 per month, according to Apartments.com. The Lofts is considered a value-add investment for Weidner, according to Steve Gebing, senior managing director of Institutional Property Advisors (IPA), a division of Marcus & Millichap. Gebing and colleague Cliff David represented the seller and procured Weidner in the transaction. “Asking rents for newly constructed core assets in the Tempe submarket are substantially higher than the in-place rents at The Lofts at Rio Salado,” says Gebing. “This rent differential, coupled …
LOS ANGELES — C.W. Driver Cos. has completed construction of Fountainview at Gonda West, a luxury continuing care retirement community in Los Angeles’ Playa Vista neighborhood. The 460,000-square-foot property features 199 units that incorporate independent living and assisted living with healthcare services. Development costs were estimated at $120 million. Gensler designed the project for Jewish Home for the Aging, while The Los Angeles Jewish home will be the sponsor. The property is already fully pre-leased and includes a 257-space underground parking garage. C.W. Driver is a builder serving California since 1919. The company has already built several seniors housing campuses in the Los Angeles area for Jewish Home for the Aging.