Western

Benchmark Electronics Leases New Headquarters at Rio 2100 in Tempe

by Nellie Day October 13, 2017

TEMPE, ARIZ. — Benchmark Electronics has announced its plans to relocate its new headquarters to Rio 2100, a new 52-acre office park in Tempe. The Class A property is situated at the southwest intersection of the Loop 101 and 202 freeways. Rio 2100 will eventually feature office, retail, restaurant and multifamily space, as well as two hotels within the Rio Salado corridor. Groundbreaking for the new site is expected to begin before the end of the year for completion in early 2019. Benchmark’s current headquarters is at 4141 N. Scottsdale Road. The global design, engineering and manufacturing company was previously based in Angleton, Texas. JLL’s Andrew Medley represented Benchmark. CBRE’s Bryan Taute represented the landlord, Boyer, in this transaction.

October 13, 2017

California Retail Western

Ross Stores Opens 40 New Locations Nationally

by Nellie Day October 13, 2017

DUBLIN, CALIF. — Ross Stores has recently opened 30 Ross Dress for Less and 10 dd’s Discounts stores across 22 different states in September and October. These new locations complete the company’s store growth plans for fiscal 2017. (Ross added 96 new stores total in 2017.) “This fall, we continued to expand our Ross and dd’s footprints across both new and existing markets, with nearly half of our Ross store openings in our newest market — the Midwest,” says Jim Fassio, president and chief development officer. Ross Stores Inc. is headquartered in Dublin and boasts 1,412 Ross Dress for Less locations in 37 states, the District of Columbia and Guam. The company also operates 215 dd’s Discounts stores in 16 states. Long term, the company hopes to reach 2,000 stores for Ross and 500 for dd’s Discounts

October 13, 2017

Colorado Retail Western

Hutensky Capital Partners Acquires Power Center in Metro Denver for $48M

by Nellie Day October 12, 2017

NORTHGLENN, COLO. — Hutensky Capital Partners has purchased Marketplace at Northglenn, a 439,000-square-foot shopping center in Northglenn, a northern suburb of Denver, for $48 million. The center is shadow-anchored by Lowe’s Home Improvement, and is also home to Ross Dress for Less, Bed Bath & Beyond, Office Depot, PetSmart and JoAnn Fabrics. The seller was not disclosed.

October 12, 2017

Colorado Retail Western

Simon Breaks Ground on Denver Premium Outlets in Thornton

by Nellie Day October 12, 2017

THORNTON, COLO. — Simon has broken ground on Denver Premium Outlets, a 330,000-square-foot open-air outlet center located 12 miles outside Denver in Thornton. The mall will be home to 80 outlet stores offering discount, name-brand merchandise. The location marks the first and only Premium Outlets development in the state of Colorado. It is scheduled to open in fall 2018.

October 12, 2017

Arizona Office Western

Flagstaff Office Building Sells for $7.3M

by Nellie Day October 12, 2017

FLAGSTAFF, ARIZ. — The Shoppes at Osgood LLC has acquired a 27,711-square-foot office building in Flagstaff for $7.3 million. The two-story building is located at 399 S. Malpais Lane. The Class A asset was built in 2014 just west of Northern Arizona University. It is about 85 percent leased to tenants like CollegeAmerica, NextCare Urgent Care and Arizona Arthritis & Rheumatology Associates PC. Matt Olson of Property Resource Group represented the buyer. CBRE’s Andrew Fosberg, Dylan Brown and Jeffrey Pion represented the seller, Anthem Boise LLC, in this transaction.

October 12, 2017

California Multifamily Western

North Hollywood Apartment Complex Changes Hands for $4.4M

by Nellie Day October 12, 2017

LOS ANGELES — An individual/personal trust has acquired a 32-unit apartment complex in North Hollywood for $4.4 million. The community is located at 6706 Cleon Ave. in the Los Angeles submarket. Janette Monfared and Jason Tuvia of Marcus & Millichap represented both the buyer and seller, an LLC, in this transaction.

October 12, 2017

California Retail Western

Nordstrom Opens at Century City With Latest Store Design

by Nellie Day October 12, 2017

LOS ANGELES — Nordstrom Inc. opened its newest Los Angeles full-line store at Westfield Century City, a re-location from Westside Pavilion. The store offers a new store design and new customer services. Also, in West Hollywood, the retailer launched Nordstrom Local, a neighborhood hub where customers can access the company’s services in a central location. The three-level, 154,000-square-foot Century City store offers the fifth ‘Nordstrom x Nike’ sneaker boutique, a women’s-only fitness/fashion lifestyle concept; and SPACE, a boutique featuring advanced and emerging designers. The store also houses the first West Coast MAC Makeup Studio; Bar Verde, a full-service, seasonally-focused restaurant and bar; Style Bar, an area to meet with complimentary personal stylists; Nordstrom to You, a personal stylist service on wheels; Buy Online & Pick-Up In-Store; Reserve & Try In-Store; Curbside Pickup; and Two-Hour Delivery. Nordstrom Century City will have the company’s latest store design concept, which includes more windows to incorporate natural light and connect the shopping experience to the outside world. Also on the horizon: The company plans to open its 10th Nordstrom Rack location in Los Angeles at the FIGat7th shopping center downtown. Nordstrom Rack is the off-price division of Nordstrom. Nordstrom is a fashion retailer based in …

October 12, 2017

Nevada Western

Howard Hughes Corp. to Develop New Baseball Stadium for Las Vegas 51s

by Jeff Shaw October 11, 2017

LAS VEGAS — The Howard Hughes Corp. has unveiled plans to develop and construct the Las Vegas Ballpark in Downtown Summerlin, the urban core within the 22,500-acre master-planned community of Summerlin in Las Vegas. The new ballpark will be the future home of the Las Vegas 51s, the city’s professional baseball team. The name refers to Area 51, which is located roughly 80 miles north of the city. The team’s logo depicts one of the gray aliens thought by UFO believers to inhabit the site, according to Wikipedia. Earlier this year, The Howard Hughes Corp. acquired full ownership of the team, a member of the Pacific Coast League and a Triple-A affiliate of the New York Mets. In addition to serving as the home of the Las Vegas 51s, the 10,000-seat ballpark will host civic, community, nonprofit and sporting events. HOK is leading design efforts for the project, which will include 22 suites, club seats, berm seating, party zones and decks, picnic tables, kids’ zones, bars, and a pool beyond the outfield wall. Parking will be available on adjacent sites. Construction on the new ballpark will break ground early next year, and deliver in time for the 2019 season, according to …

October 11, 2017

California Multifamily Western

Metro 102 Apartments in Ontario Trades for $35M

by Nellie Day October 11, 2017

ONTARIO, CALIF. — A California-based investor has acquired the 160-unit Metro 102 Apartments in Ontario for $35 million. The community is located at 102 N. Lemon Ave. It sits adjacent to City Hall, Ontario Town Square and Euclid Avenue. The affordable apartment community was built in 2009 on a podium garage. It is 98 percent occupied. Community amenities include a resident lounge, pool table, swimming pool, gym and courtyard. Jim Fisher, Mike Smith and Joe Leon of Berkadia represented the seller, TruAmerica Multifamily, in this transaction.

October 11, 2017

California Multifamily Student Housing Western

AMCAL, Swenson Break Ground on Student Housing Community Near San Jose State

by Nellie Day October 11, 2017

SAN JOSE, CALIF. — A joint venture between AMCAL Equities LLC and SWENSON has broken ground on The Graduate, a 1,039-bed student housing community located within one block of San Jose State University in San Jose. Shared amenities at the 19-story property will include a fitness center, swimming pool with spa, sundeck, barbecue grills, picnic area, bicycle storage and 14,750 square feet of retail space. Units on the top floor of the community will share an outdoor terrace with views of the city and campus. The development is set for completion in 2020.

October 11, 2017

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