HAYWARD, CALIF. — EP Container Corp. has renewed its lease for an 18,000-square-foot industrial warehouse/distribution facility in the East Bay submarket of Hayward. The facility is located at 1672 Delta Court. The property is situated within a larger multi-tenant warehouse space that features office space, dock-high and drive-in loading access, ample parking and significant power. Kate Webster of Cushman and Wakefield represented the renter. Greig Lagomarsino and Rick Keely of Colliers International represented the landlord, MIREF Delta Court LLC, in this transaction.
GRESHAM, ORE. — Stockdale Capital Partners has purchased Gresham Station Medical Plaza, a 100,419-square-foot medical office complex in the Portland suburb of Gresham for $23.5 million. The four-building complex is located at 831 N.W. Council Drive, 862-894 N.W. Burnside Drive and 1851-1867 N.W. Civic Drive. The medical office complex is situated near the Adventist Medical Center. Adventist Health anchors Gresham Station Medical Plaza, which is 77 percent leased. Additional tenants include DaVita HealthCare Partners and Providence Health & Services. The facility provides surgery, imaging, dialysis, primary care, orthopedics, laboratory, physical therapy, dermatology, dentistry, women’s health and pediatrics services. HFF’s Nick Kucha, Evan Kovac, Andrew Milne and Trent Jemmett represented both the buyer and the seller, Westlake Realty Group, in this transaction. The firm also worked to secure an acquisition loan for Stockdale.
GILBERT, ARIZ. — A joint venture between Trammell Crow Co. (TCC) and Artis REIT has completed construction on Park Lucero Phase II, a 131,796-square-foot spec industrial building in Gilbert. The Class A building fronts the Santan Freeway (Loop 202). Park Lucero is situated on 48 acres at the northwest corner of Mustang Drive and Germann Road near the Gilbert/Chandler border. Phase II is situated adjacent to Park Lucero’s Phase I, which was completed in 2015, and Phase III, which is currently under construction. Both Phase I and Phase II are fully leased. Park Lucero is a four-phase industrial park featuring buildings with dock-high, truck well and grade-level loading; 24- to 30-foot ceiling clear heights; and an overall 2.1:1,000 parking ratio. The project will eventually contain nearly 600,000 square feet of industrial space in six buildings.
SALT LAKE CITY — Restore Utah has purchased The 500, a 109-unit apartment community in South Salt Lake City, for an undisclosed sum. The community is located at 3440 S. 500 E. The 500 offers two-bedroom apartment and townhome units near downtown Salt Lake City. Amenities include a swimming pool, playground, large private patios and covered parking. Restore Utah plans to enhance the community through interior renovations and a common area overhaul that will include a dog park and gathering pavilion. The acquisition was made possible by Goldman Sachs’ increased equity commitment of $24 million to Restore Utah’s Multifamily Acquisition Fund. The commitment allowed the fund to significantly increase its acquisitions and improve affordable housing options throughout the Wasatch Front. Restore Utah revitalizes low- and moderate-income neighborhoods by transforming vacant or neglected properties hit by the financial crisis into quality, affordable rental homes for low-income families.
DENVER — Rocky Crest Enterprises LLC has purchased 28 acres of land in the northern Denver submarket of Commerce City for $3.1 million. The land is located at 10600 Havana St. Rocky Crest plans to construct a 30,000-square-foot, multi-tenant industrial building with outside storage at the site. The LLC has also secured a lease for 10 acres with logistics firm Denver Intermodal Express. The firm plans to use the site for small office use, trailer storage and its grain operation. There are no current industrial developments underway in the immediate area, according to NGKF’s Russell Gruber, who represented Rocky Crest in the transaction. The acquisition also represents one of the largest land sales in the area since 2007. Construction is expected to commence in the third quarter of 2017, with completion scheduled for early 2018.
DENVER — A joint venture between Origin Investments and Hamilton-Titan Partners have completed the multi-million-dollar renovation and rebranding of Denver Corporate Center I. The 193,718-square-foot office building is now known as the Office @ dtc. It is located at 4700 S. Syracuse St. within the Denver Tech Center. The building was originally constructed in 1980. The JV renovated the lobby and added collaborative spaces, as well as upscale amenities, to the project. New amenities include a fitness center with country club-style locker rooms, secured bike storage, a Craft deli serving breakfast and lunch, a tenant social lounge, and a conference room and training center.
BROOMFIELD, COLO. — Summit Management Services has acquired the 350-unit Stonegate apartments in Broomfield for $86 million. The community is located at 11815 Ridge Parkway, halfway between Denver and Boulder. The property is just west of Interlocken Business Park, which is northwest Denver’s most prominent office park with more than 4 million square feet of office space, and Flatiron Crossing, which comprises more than 2 million square feet of retail, dining, hotel and entertainment options. Stonegate’s community amenities include a resort-style swimming pool, hot tub, grilling area, playground, dog park, 24-hour fitness center, resident lounge with full kitchen and fireplace, and views of the Rocky Mountains. The property is 95 percent occupied. HFF’s Jordan Robbins and Jeff Haag represented the seller in this transaction.
YUMA, ARIZ. — Cushman & Wakefield Senior Housing Capital Markets has negotiated a $9 million loan for Mission Senior Living. The capital will be used to build River Valley Estates, an 88-unit assisted living and memory care community in Yuma. River Valley Estates will feature 56 assisted living units and 32 memory care units in a 66,000-square-foot building on a 5.3-acre site. It will be Mission’s fifth property and third ground-up development. The Cushman & Wakefield team of Aaron Rosenzweig, Richard Swartz, Jay Wagner and James Dooley arranged the loan. Contemporary Healthcare provided the capital.
IRVINE, CALIF. — Toshiba America has leased 96,000 square feet of office space at University Research Park in Irvine. The park sits adjacent to UC Irvine, which features tech and innovation incubators including the 47,000-square-foot Cove and the Vine, where startups have generated more than $24 million in funding. The 185-acre office park is currently home to more than 75 companies and more than 8,000 employees. Toshiba America will move its electronics components, information systems and logistics companies to the campus, which is currently undergoing updates. JLL’s Louis Tomaselli and Steve Wagner represented Toshiba.
SOUTH JORDAN, UTAH — Love Funding, a lender specializing in FHA loans for healthcare real estate, has closed a $6.8 million bridge loan for the construction of an assisted living and memory care community in the Sale Lake City suburb of South Jordan. Our House of South Jordan will offer 62 beds in a 42,000-square-foot facility. Giza Development LLC, Stout Construction and Primera Group are building the property. SAL Management Group LLC will manage the community once construction is complete. James Vanar of Love Funding’s Los Angeles office arranged the laon, with Love Funding’s parent company, Midland States Bank, providing the capital. This is the second bridge loan Vanar has obtained for Giza Development, which started construction of Shadow Valley Assisted Living and Memory Care in nearby Ogden last year.