Sunday, June 28, 2026
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Western

CaliforniaRetailWestern

CBRE Brokers $24.5M Sale of Grocery-Anchored Retail Property in Oxnard

by Nellie Day

OXNARD, CALIF. — CBRE has arranged the sale of Oxnard Vineyards, an outdoor shopping center located at 2580-2698 E. Vineyard Ave. in Oxnard. An undisclosed private investor acquired the property from Loja Real Estate Group for $24.5 million. Vallarta Supermarkets anchors the 102,139-square-foot property, which is situated on 11.5 acres. The grocer occupies 64 percent of the center with more than 10 years of the initial term left on its lease. Orbell Ovaness, Brad Baskin and Artin Sepanian of CBRE represented the seller in the deal.

Continue Reading
FacebookTwitterLinkedinEmail
CaliforniaRetailWestern

Faris Lee Facilitates $4M Sale of 5,231 SF Retail Property in Riverside

by Nellie Day

RIVERSIDE, CALIF. — Faris Lee Investments has brokered the sale of a retail property at 3739-3747 Central Ave. in Riverside. A Los Angeles-based private investor acquired the 5,231-square-foot property from Red Mountain Retail Group for $4 million. The 5,231-square-foot property is leased to three tenants: Jamba Juice, Jimmy John’s Gourmet Subs and Tokyo Joe’s. Donald MacLellan and Joseph Chichester of Faris Lee represented the seller, while NAI Capital represented the buyer in the deal.

Continue Reading
FacebookTwitterLinkedinEmail
CaliforniaRetailWestern

Nordstrom Launches New Retail Concept in LA

by Nellie Day

LOS ANGELES — Fashion specialty retailer Nordstrom Inc. has launched Nordstrom Local, the company’s latest retail concept where customers can shop and access Nordstrom services in a central location. The new concept will launch in West Hollywood on Oct. 3, the same day as the company’s Westside Pavilion store relocation to Century City. Nordstrom Local will have a 3,000-square-foot footprint, much smaller than an average 140,000-square-foot Nordstrom store. This service-focused concept store has no dedicated inventory. Customers will have access to personal stylists who can transfer merchandise in for customers, as well as services like buying online but picking up in the store, alterations and tailoring, and manicure appointments. Customers will also be able to make returns at Nordstrom Local from Nordstrom stores, Nordstrom.com and Trunk Club. Nordstrom Local will have one styling suite and eight dressing rooms surrounding a central meeting space where customers can sit, enjoy a glass of wine or beer, and chat with personal stylists. Nordstrom operates 356 stores in 40 states. The company also owns Trunk Club, a personalized clothing service.

Continue Reading
FacebookTwitterLinkedinEmail
CaliforniaRestaurantRetailWestern

The Crack Shack to Open First LA Location at Westfield Century City

by Nellie Day

LOS ANGELES — The Crack Shack, an all-day chicken and egg restaurant, is opening its first Los Angeles location at Westfield Century City. Slated to open in spring 2018, the restaurant is owned by Michael Rosen, chef Richard Blais and chef Jon Sloan. Century City will be the restaurant’s fourth location and will feature outdoor patio dining, picnic-style seating, fire pits and communal-dining fire tables, a bocce ball court and open-air children’s play spaces. The Crack Shack is currently located in San Diego and Encinitas, Calif., with a third location opening in Costa Mesa later this year.

Continue Reading
FacebookTwitterLinkedinEmail
CaliforniaIndustrialLoansWestern

Allianz Real Estate of America Provides $55M Refinancing for Riverside Cold Storage Facility

by Nellie Day

RIVERSIDE, CALIF. — Allianz Real Estate of America has provided $55 million to refinance a 507,000-square-foot cold storage facility in Riverside. The property is located at 1001 Columbia Ave. The asset was developed in 2011 on a 25.3-acre site within Hunter Park. It is fully leased to an investment-grade credit tenant. The 10-year, fixed-rate loan will refinance the property’s existing loan. HFF’s Kevin MacKenzie and AJ Manas represented the borrower in this transaction.

Continue Reading
FacebookTwitterLinkedinEmail
OfficeOregonWestern

NBP Capital Acquires Two-Building Office Portfolio in Portland for $32.2M

by Nellie Day

PORTLAND, ORE. — NBP Capital has acquired a two-building office portfolio in Portland for $32.2 million. The acquisition includes Blagen Block, a four-story creative office building, and New Market Theater, a six-story office building. Blagen Block was built in 1888. It is fully leased to Airbnb. New Market Theater was built in 1872 and 1875. It is home to Portland’s long-standing Saturday Market. Swift Real Estate Partners acquired both buildings from Beardsley Building Development in 2015. The company invested in modernizing and upgrading the buildings. CBRE’s Charles Safley and Trevor Kafoury represented both parties in the transaction. The firm’s Nick Santangelo, Mike Walker and Brad Zampa secured $26.7 million in acquisition financing for the buyer.

Continue Reading
FacebookTwitterLinkedinEmail
MultifamilySeniors HousingWashingtonWestern

Blueprint Negotiates $24.5M Sale of 104-Unit Assisted Living Community in Seattle

by Nellie Day

SEATTLE — Blueprint Healthcare Real Estate Advisors has arranged the $24.5 million sale of Foundation House, a 104-unit independent living and assisted living community in Seattle. A local nonprofit sold the property to a Seattle-based commercial real estate firm. The sale will keep the existing triple-net lease in place with the operator. The purchase price equates to approximately $236,000 per unit and a 6.9 percent yield on current rent. Ben Firestone and Michael Segal of Blueprint executed the transaction with the assistance of Mike Mooney, who covers the Pacific Northwest region for the firm.

Continue Reading
FacebookTwitterLinkedinEmail
CaliforniaOfficeWestern

Irvine Co. Opens 400 Spectrum Center Office Building in Irvine

by Nellie Day

IRVINE, CALIF. — Irvine Co. has opened 400 Spectrum Center, a 21-story office tower within the Irvine Spectrum. The tower’s sister property, 200 Spectrum Center Drive, debuted a year ago. The newest addition is 40 percent pre-leased. Notable tenants include communications platform company SendGrid, cybersecurity artificial intelligence company Cylance, Kieckhafer Schiffer & Co. and CrossCountry Mortgage.

Continue Reading
FacebookTwitterLinkedinEmail
MultifamilySeniors HousingUtahWestern

Buchanan Street Partners Buys Unfinished Age-Restricted Property Near Salt Lake City

by Nellie Day

HERRIMAN, UTAH — Buchanan Street Partners has acquired a 298-unit age-restricted apartment community in the Salt Lake City suburb of Herriman for an undisclosed price. The sellers were KeyBank and Bank of the West. Buchanan Street plans to finish construction of the unfinished property in early 2018. The name of the community was not released. Previously focused on the office, industrial and retail sectors, Buchanan Street launched a multifamily investment platform in March. The company plans to invest $500 million in multifamily properties over the next three years. Kip Paul and Camron Carpenter of Cushman & Wakefield represented the sellers in the transaction. Buchanan Street represented itself. Buchanan Street Partners is a real estate investment firm based in Newport Beach, Calif. Over its history, the company has invested more than $6 billion in real estate debt and equity.

Continue Reading
FacebookTwitterLinkedinEmail
HawaiiMixed-UseTop StoriesWestern

Salem Partners to Develop $750M Mixed-Use Project in Honolulu

by John Nelson

HONOLULU — Salem Partners, a commercial real estate developer based in Los Angeles, is moving forward on its $750 million, two-tower project in Honolulu. The Honolulu City Council recently gave Salem Partners approval to build the 450-unit condominium and hotel development, which is part of Honolulu’s Ala Moana Transit Oriented Development Plan. The first development in the plan is Salem Partner’s Mana’olana Place project, which is slated to break ground across from the Hawaii Convention Center in the second quarter of 2018. A new Mandarin Oriental Hotel will anchor the development. “We have enthusiastically embraced the city’s new TOD plan and look forward to the completion of the transit system in 2022,” says James Ratkovich of Salem Partners. Salem Partners received a special transit permit to build up to 400 feet high instead of the 250 feet previously allowed. The developer has also proposed for 78 affordable apartments to be built in collaboration with EAH Housing at the site, which spans 1.42 acres at 1500 Kapiolani Ave. “It is an innovative solution for deeply needed affordable units in Honolulu,” says Ratkovich. At this time the affordable units are designated for seniors housing. Colorado-based architect [au] workshop designed the two towers, …

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts