Western

JLL Income Property Trust Purchases Jory Trail at the Grove Apartments in Portland for $75M

by Nellie Day July 24, 2017

PORTLAND, ORE. — JLL Income Property Trust has purchased the 324-unit Jory Trail at the Grove apartment complex in Portland for $75 million. The Class A community is situated along Interstate 5 in the submarket of Wilsonville. Jory Trail is situated near major employers like Xerox, Mentor Graphics, Rockwell Collins and Tyco. The acquisition is in line with JLL’s strategy to invest in high-quality apartment assets in strong-performing areas that boast a combination of top incomes and school districts.

July 24, 2017

Office Washington Western

MRM Capital Buys The Plaza at North Creek in Bothell

by Nellie Day July 24, 2017

BOTHELL, WASH. — MRM Capital has purchased the Plaza at North Creek, a 194,074-square-foot office campus in the Seattle submarket of Bothell, for an undisclosed sum. The flagship campus is located at 18911 and 19015 North Creek Parkway, about 13 miles northeast of downtown Seattle. The Plaza at North Creek is 80.7 percent leased to tenants like Allstate and SNC-Lavalin. It has a 10-year historical average occupancy of 92 percent. HFF’s Nick Kucha and Dave Otis represented both the buyer and unnamed seller in this transaction.

July 24, 2017

Colorado Multifamily Western

Granite Capital Group Acquires Brooklyn Park Rowhouses in Fort Collins for $27.8M

by Nellie Day July 24, 2017

FORT COLLINS, COLO. — Granite Capital Group has acquired the 105-unit Brooklyn Park Rowhouses in Fort Collins for $27.8 million. The community is located at 2758 Iowa Drive. Brooklyn Park was built between 2007 and 2008. It is fully leased and is located near Harmony Technology Park. Nick and Jacob Steele of Marcus & Millichap represented the seller in this transaction.

July 24, 2017

Nevada Retail Western

At Home Opens First Location in Nevada

by Nellie Day July 24, 2017

HENDERSON, NEV. — At Home Group Inc. has opened its first Nevada location in Henderson. The home décor superstore is the company’s westernmost location as it enters its 33rd state. Nevada’s first At Home is more than 140,000 square feet and offers over 50,000 home décor items from furniture, mirrors, rugs, art and housewares to tabletop, patio and seasonal items, including more than 100 different Christmas tree varieties. The Henderson At Home is one of more than 25 new store openings this year for the home décor chain. The company is headquartered in Plano, Texas, and currently operates 136 stores in 33 states.

July 24, 2017

California Mixed-Use Multifamily Retail Western

Trammell Crow Residential, KTGY Break Ground on $135M Mixed-Use Project in Oakland

by Nellie Day July 21, 2017

OAKLAND, CALIF. — Trammell Crow Residential and KTGY Architecture + Planning have broken ground on Alexan Webster, a mixed-use development being built on a parking lot at 2330 Webster St. in the Lake Merritt neighborhood of Oakland. Designed by KTGY, the 1.4-acre redevelopment project will feature a 234-unit apartment community, 15,000 square feet of street-front retail space and a public and residential parking garage. The $135 million sustainable development will also feature 5,000 square feet of indoor amenity and leasing office space, as well as a lap pool, business center, 24-hour fitness center, outdoor kitchen, bicycle repair center and storage and a rooftop deck. The residential component will feature a mix of studio, one- and two-bedroom apartments ranging in size from 610 square feet to 1,160 square feet. Completion is slated for summer 2019.

July 21, 2017

California Retail Western

Marcus & Millichap Negotiates $10.8M Sale of Shopping Center in Huntington Beach

by Nellie Day July 21, 2017

HUNTINGTON BEACH, CALIF. — Marcus & Millichap has brokered the sale of Seagate Plaza, a shopping center located at 16107 Bolsa Chica St. in Huntington Beach. Cathy Investments acquired the property from Asbury Properties for $10.8 million. Carl’s Jr., Seagate Veterinary Hospital, Classic Cleaners, Seagate Liquor & Grocery, Subway and Coastline Dental occupy the 30,234-square-foot retail plaza, which was built in 1975. Joseph Lising of Marcus & Millichap represented the buyer in the 1031-exchange transaction.

July 21, 2017

California Retail Western

Coldwell Banker Facilitates $3.8M Sale of Shops at Stater Bros in Orange

by Nellie Day July 21, 2017

ORANGE, CALIF. — Coldwell Banker Commercial Advisors (CBC Advisors) has arranged the sale of Shops at Stater Bros, a multi-tenant retail strip center located on Tustin Avenue in Orange. A local buyer acquired the retail center for $3.8 million. The property features 14,575 square feet of retail space. Scott Hook of CBC Advisors represented the undisclosed seller in the transaction.

July 21, 2017

California Retail Western

Colliers Negotiates $3.2M Acquisition of Retail, Industrial Property in Temecula

by Nellie Day July 21, 2017

TEMECULA, CALIF. — Colliers International has arranged the acquisition of a multi-tenant retail and industrial property located at 41735 Winchester Road in Temecula. Anderson Family Trust acquired the property from Winchester Group JV for $3.2 million. Redline Athletics, The Springs Community Church and All Star Promotions, among others, occupy the 27,924-square-foot building, which was fully occupied at the time of sale. Joe Brady of Colliers represented the buyer, while John Pfaffl of Jonan Property Services represented the seller in the deal.

July 21, 2017

California Office Western

Cypress Equity Investments Acquires Commercial Property in Santa Monica

by Nellie Day July 21, 2017

SANTA MONICA, CALIF. — Cypress Equity Investments has purchased a commercial property located at 3223 Wilshire Blvd. in Santa Monica. Satnam Investments sold the property for an undisclosed price. The property is comprised of two parcels, including a two-story, 11,730-square-foot building. The parcels are zoned mixed-use, allowing for a range of redevelopment opportunities. Mitchell Stokes of Madison Partners represented the seller and buyer in the deal.

July 21, 2017

California Industrial Western

Rexford Industrial Buys Six-Building Complex in Los Angeles for $210.5M

by Nellie Day July 20, 2017

LOS ANGELES — Rexford Industrial Realty has purchased a six-building industrial park in the Los Angeles submarket of South Bay for $210.5 million. The Class A park is known as Rancho Pacifica Industrial Park. The acquisition contains a total of about 1.2 million square feet on 56 acres. The park is leased to 23 tenants. It sits adjacent to the Alameda Intermodal Corridor, six miles from the Ports of Long Beach and Los Angeles.

July 20, 2017

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