Western

Buchanan Street Partners Buys 224,015 SF Office Building in Denver

by Nellie Day February 24, 2017

DENVER — Buchanan Street Partners has purchased a 224,015-square-foot, transit-oriented office tower in Denver for an undisclosed sum. The 12-story tower is located at 5613 DTC Parkway within the Denver Technological Center in the city’s southeast region. The building is currently 80 percent occupied. Buchanan plans to complete improvements to attract and retain tenants. The company will focus on the asset’s tenant spaces, common areas and building systems. It will also look into improving the tower’s fitness center, lobby, elevators, cafe, conference center, parking deck and outdoor patios. Buchanan Street represented itself in this transaction, while CBRE’s Tim Richey, Mike Winn and Chad Flynn represented the seller, SteelWave LLC.

February 24, 2017

Office Oregon Western

Rosendin Electric Leases 91,650 SF of Office Space at Majestic Brookwood Business Park in Portland

by Nellie Day February 24, 2017

PORTLAND, ORE. — Rosendin Electric has leased 91,650 square feet of office space at Majestic Brookwood Business Park in the Portland submarket of Hillsboro. The park is located at 23677 N.W. Huffman St. The space will serve as Rosendin’s division headquarters. Majestic Brookwood Business Park is a master-planned, 73-acre commercial development that will include up to 1 million square feet of industrial, retail and office space. CBRE’s Scott Weigel represented Rosendin. Colliers’ Mike Thomas and Mark McClung represented the landlord, Majestic Realty Co., in this transaction.

February 24, 2017

Colorado Office Western

Denver Scholarship Foundation to Move Headquarters to Denver’s Golden Triangle

by Nellie Day February 24, 2017

DENVER — The Denver Scholarship Foundation has signed a seven-year lease for 7,586 square feet of office space in the Golden Triangle area of Denver. The space is located at 789 Sherman St. The move will allow the nonproft to operate in a larger space with higher cost-savings compared to its current location near downtown Denver. The space is currently being built out, shifting from isolated offices to a more open floorplan to foster collaboration across departments. WinterRidge Builders Corp. is leading the build-out, which Elsy Studios designed. The property also houses the Colorado Collaborative for Nonprofits, which includes the Colorado Nonprofit Association, allowing the Denver Scholarship Foundation to collaborate with neighboring nonprofit organizations. The foundation will also be able to use Colorado Collaborative’s first-floor training center for various events. JLL’s Andy Cullen and Barry Dorfman represented the foundation. Alan Bruno of Centrepoint Properties represented the landlord in this transaction.

February 24, 2017

Arizona Industrial Western

Carter Validus Mission Critical REIT II Acquires Data Center in Tempe for $16.2M

by Nellie Day February 23, 2017

TEMPE, ARIZ. — Carter Validus Mission Critical REIT II has purchased the 44,244-square-foot Tempe Data Center for $16.2 million. The facility is situated near Phoenix Sky Harbor International Airport, downtown Phoenix and downtown Tempe. The facility has been fully leased to a national provider of wireless voice, messaging and data services since 1997. It underwent remodeling in 1983, 2008 and 2011. The center features 15,000 square feet of white space, 8,711 square feet of office space and 20,533 square feet of warehouse space, including a 4,355-square-foot mezzanine level. CBRE’S Luke Denmon and Mindy Korth and Kirk Kuller of Colliers International represented the seller, El Dorado Holdings, in this transaction.

February 23, 2017

California Office Western

4M Investment Corp. Buys Universal City Office Building

by Nellie Day February 23, 2017

LOS ANGELES — 4M Investment Corp. has purchased a 103,154-square-foot office building in the Los Angeles submarket of Universal City for an undisclosed sum. The Class A building is located at 3330 Cahuenga Blvd. The asset is 98 percent leased to tenants like Extreme Reach, Panasonic, EPS-Cineworks and Abominable Pictures. It was built in 1988. NGKF Capital Markets’ Kevin Shannon, Rob Hannan and Michael Moll represented the seller, Blackstone, in this transaction. The local market leasing team of Rob Erickson and Trevor Belden from Industry Partners also assisted in the deal.

February 23, 2017

California Multifamily Western

Astani Enterprises Completes Construction of Wilshire Valencia Apartments in LA

by Nellie Day February 23, 2017

LOS ANGELES — Astani Enterprises has completed construction on the 218-unit Wilshire Valencia apartment community in Los Angeles. The community is located at 1515 Wilshire Blvd. The project contains a mix of studios, one- and two-bedroom units, including a few affordable units. It also features 4,000 square feet of retail spaces suitable for restaurants and shopping along Wilshire. KFA designed Wilshire Valencia.

February 23, 2017

Industrial Oregon Western

Superwinch Adds New Factory in Tualatin

by Nellie Day February 23, 2017

TUALATIN, ORE. — Superwinch has leased 38,812 square feet of factory space at Koch Corporate Center in Tualatin. The industrial park is situated at SW 115th Avenue and Tualatin-Sherwood Road. The designer, manufacturer and marketer of winch systems and accessories is building a design and manufacturing facility to complement existing facilities in Connecticut and the United Kingdom. The new facility will become Superwinch’s corporate headquarters. It will include both assembly and distribution of new product abilities. The new facility is scheduled for completion this April, with Superwinch taking occupancy the following month. CBRE’s Cara Nolan represented Superwinch. The landlord is PacTrust.

February 23, 2017

Industrial Washington Western

Terreno Realty Corp. Purchases 45,000 SF Industrial Property in Seattle for $7.8M

by Nellie Day February 23, 2017

SEATTLE — Terreno Realty Corp. has acquired a 45,000-square-foot industrial distribution building in Seattle for $7.8 million. The facility is located at 637 S. Lucile St. It sits adjacent to the city’s Port and SoDo (south of Downtown) districts. The asset is fully leased to one tenant on a short-term basis.

February 23, 2017

California Office Western

MGR Services Buys Empire Towers Office Campus in Ontario for $78.5M

by Nellie Day February 22, 2017

ONTARIO, CALIF. — MGR Services has acquired Empire Towers I through IV, a four-building, 400,976-square-foot office campus in Ontario, for $78.5 million. The Class A campus is located at 3633 and 4141 Inland Empire Blvd. and 3800 and 4200 Concours St. The property is 88 percent leased to Liberty Mutual, Wells Fargo, City National Bank, Merrill Lynch and Allstate, among others. The property was built between 1991 and 2005. The common areas underwent a renovation between 2014 and 2016. David Milestone and Brett Green of NGKF Capital Markets secured acquisition financing on behalf of MGR Services, which represented itself in the transaction. The firm’s Kevin Shannon, Ken White, Michael Moore and Brunson Howard represented the seller, a joint venture between CIP Real Estate and Guggenheim Partners.

February 22, 2017

California Multifamily Western

CityView Sells Solimar Apartment Community in Los Angeles for $75M

by Nellie Day February 22, 2017

LOS ANGELES — CityView has sold the 204-unit Solimar apartment community in Los Angeles to a private investor for $75 million. The community is located at 1500 W. Pacific Coast Highway. Solimar sits adjacent to the Harbor Park Municipal Golf Course and the Ken Malloy Harbor Regional Park, where a $90 million renovation is nearing completion. It is the final property from CityView Los Angeles Fund I, which built or renovated more than 2,500 housing units in 21 projects throughout the greater Los Angeles area.

February 22, 2017

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