Western

The Slanted Door to Open First Restaurant Outside California

by Nellie Day May 25, 2017

LAS VEGAS — Simon is adding The Slanted Door to The Forum Shops at Caesars Palace, opening in 2018. It will be the Vietnamese restaurant’s first location outside of California. A modern Vietnamese restaurant with roots in San Francisco’s Mission District, the 8,200-square-foot restaurant will be located on Las Vegas Boulevard. The Slanted Door opened its first restaurant in 1995 and received the James Beard Outstanding Restaurant award in 2014, which is given to only one restaurant nationally a year. The Forum Shops at Caesars Palace first opened in May 1992. After two subsequent expansions, The Forum Shops now offers 675,000 square feet of retail, dining and entertainment. Simon owns shopping, dining, entertainment and mixed-use properties.

May 25, 2017

Arizona Multifamily Western

P.B. Acquisitions LLC Purchases Club 7 Apartments in Phoenix for $19M

by Nellie Day May 24, 2017

PHOENIX — P.B. Acquisitions LLC has acquired the 219-unit Club 7 Apartments in Phoenix for $19 million. The community is located at 3030 N. 7th St. The property sits on 7.3 acres in the Midtown Phoenix submarket, across the street from the Phoenix Country Club. It underwent a renovation in 2015 and 2016. Todd Braun and Bryson Fricke of Lee & Associates represented the seller, 3030 North Equity LLC, in this transaction.

May 24, 2017

California Office Western

JV Buys Officer Tower Near LAX for $12.5M

by Nellie Day May 24, 2017

LOS ANGELES — A joint venture between Roxborough Fund I and the Ruth Group LLC has purchased a 304,821-square-foot office tower in Los Angeles for $12.5 million. The 15-story tower is located at 9841 Airport Blvd. near Los Angeles International Airport (LAX). The asset is currently 62 percent occupied.

May 24, 2017

Arizona Multifamily Student Housing Western

Core Spaces to Deliver Six Student Housing Communities in 2018

by Nellie Day May 24, 2017

FLAGSTAFF, ARIZ. — Chicago-based Core Spaces is set to deliver six student housing communities in summer 2018. Developments include Hub on Campus Flagstaff, a 591-bed community near Northern Arizona University. Other Hub on Campus communities will be built in West Lafayette near Purdue University; Minneapolis near the University of Minnesota; Ann Arbor near the University of Michigan; Tuscaloosa near the University of Alabama; and Orlando near the University of Central Florida.

May 24, 2017

California Retail Western

Three New Tenants to Open at Redeveloped Shopping Center in Metro Los Angeles

by Nellie Day May 24, 2017

GLENDORA, CALIF. — Three new tenants are set to open at 655 S. Grand Ave., a 70,500-square-foot shopping center currently undergoing redevelopment in the Los Angeles suburb of Glendora. Creamistry, an ice cream shop, signed a lease for 1,271 square feet; Oke Poke, a fast-casual poke restaurant, signed a lease for 1,289 square feet; and Orangetheory Fitness, a fitness center franchise, signed a lease for 3,497 square feet. All new locations will open in October. Shauna Mattis and Blake Kaplan of JLL represented the landlord, Champion Real Estate Co., in each leasing transaction. Scott Simcik and Shaun Kennedy of FGP Commercial Leasing represented Creamistry. Minerva Baral represented Oke Poke. Jesse Rehmeier of Retail Select Services represented Orangetheory Fitness. The redevelopment is set for completion in July.

May 24, 2017

Arizona Mixed-Use Office Retail Western

HFF Arranges $26M Sale of Mixed-Use Development in Scottsdale

by Nellie Day May 23, 2017

SCOTTSDALE, ARIZ. — HFF has arranged the $26 million sale of The Village at Hayden, a 156,751-square-foot mixed-use development located in Scottsdale. The property is home to retail and office tenants including Capital Consultants Management, Company Nurse, Phoenix Photonix, Zipps Sports Grill, Twisted Grove, Melting Pot and Grassroots Kitchen. CJ Osbrink and Derreck Barker of HFF marketed the property on behalf of the seller, Village at Hayden LLC, which is a partnership between AEW Capital Management L.P. and The Muller Co. HFF also procured the buyer, Arizona Partners.

May 23, 2017

Loans Montana Multifamily Seniors Housing Western

Ziegler Closes $65.4M Bond Financing for 261-Unit Seniors Housing Community in Montana

by Nellie Day May 23, 2017

KALISPELL, MONT. — Ziegler, a specialty investment bank, has arranged a total of $65.4 million in tax-exempt, fixed-rate bonds for Immanuel Lutheran Corp., which operates a seniors housing community in Kalispell, approximately 75 miles south of the Canadian border. The property is a nonprofit, faith-based community known as Immanuel Lutheran Communities. It features 106 units of independent living and assisted living and 155 units for skilled nursing on a 13-acre campus. Immanuel Lutheran Corp. will use the financing to refund two previous series of bonds and fund an expansion and renovation project at the community. The multi-phase plan will introduce entrance-fee independent living apartments, add a new memory care unit, expand amenities and “right-size” the skilled nursing area. Immanuel is partnering with seniors housing development and advisory firm Sawgrass Partners on the expansion project.

May 23, 2017

California Multifamily Western

Villa Quixote Apartments in Escondido Sells for $11.8M

by Nellie Day May 23, 2017

ESCONDIDO, CALIF. — A family trust has acquired the 78-unit Villa Quixote apartments in Escondido for $11.8 million. The community is located at 400-408 E. Mission Ave. It was built in 1969. Community amenities include controlled-access entry, a swimming pool, spa and covered parking. Christopher Zorbas and Joseph Berkson represented both the buyer and the seller, another family trust, in this transaction.

May 23, 2017

California Retail Western

Award-Winning NYC Chef to Open First LA Restaurant

by Nellie Day May 23, 2017

LOS ANGELES — According to Westfield Corp., Jonathan Waxman’s NYCA Restaurant Group will be bring the chef’s cuisine back to Southern California with a restaurant to open in spring 2018. Waxman first gained fame with Alice Waters at Chez Panisse in Berkeley, and later worked at Michael’s in Santa Monica and Jams in New York City. Today, he is the chef and owner of Manhattan’s Barbuto restaurant, where he earned the 2016 James Beard Award as Best Chef – New York City. Waxman and NYCA Restaurant Group have now made the decision to open their first restaurant in Los Angeles at Westfield Century City. The restaurant will be located alongside the property’s front façade on Santa Monica Boulevard. Westfield Century Center is preparing for its grand opening in fall 2017. The redeveloped center will include more than 200 stores and restaurants including a new Nordstrom, new Macy’s, completely remodeled Bloomingdale’s and an Equinox fitness club. In addition to the new restaurant (which has yet to be named), other new dining options at Century City will include the West Coast’s first Eataly, Din Tai Fung, Javier’s Finest Foods of Mexico, Petros Benekos (Petros fine Hellenic cuisine, The Kafe and Kafe Bugatsa), Tender Greens, …

May 23, 2017

California Company News Retail Western

Gymboree Names New President, CEO

by Nellie Day May 23, 2017

SAN FRANCISCO — The Gymboree Corporation has appointed Daniel Griesemer as the company’s new president and chief executive officer. Griesemer joins Gymboree after a five-year tenure leading Tilly’s, an action sports-inspired teen and young adult apparel retailer where he served as president and CEO. Griesemer assumes his responsibilities from interim CEO Mark Weikel, who will continue his role as a member of the board of directors. In addition to his experience at Tilly’s, Griesemer previously served as president and CEO at Coldwater Creek, a women’s clothier, and held executive leadership positions at Gap Inc., GapKids and Gap Inc. International division. Griesemer began his career with Macy’s Stores. As of April 29, 2017, the The Gymboree Corporation operated 1,281 retail stores: 582 Gymboree stores, 172 Gymboree Outlet stores, 149 Janie and Jack shops and 378 Crazy 8 stores.

May 23, 2017

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