Western

Advenir Acquires Rockledge Bear Valley Apartments in Denver for $38M

by Nellie Day February 21, 2017

DENVER — Advenir has purchased the 230-unit Rockledge Bear Valley apartments in Denver for $38 million. The community is located at 3550 S. Kendall St. Rockledge Bear Valley amenities include a fitness center, WiFi Café, dog park, business center, outdoor grilling area, outdoor sport court, bocce ball court, resort-style pool and outdoor lounge with a fireplace. It is situated approximately five miles from Denver’s financial center. HFF’s Jordan Robbins and Jeff Haag represented the seller, Jackson Square Properties. The firm also arranged a three-year, full-term, interest-only, floating-rate loan with two 12-month extension options through Freddie Mac’s Green Program and Value-Add Program. HFF will service the securitized loan.

February 21, 2017

California Office Western

Robhana Group, Inception Property Group Break Ground on New Healthcare Campus in Los Angeles

by Nellie Day February 21, 2017

LOS ANGELES — Robhana Group and Inception Property Group have broken ground on the first phase of a new healthcare campus in downtown Los Angeles. Phase I will include a 60,000-square-foot outpatient medical office building situated at Washington Boulevard and Hoover Street at the I-110/I-10 freeway intersection. HealthCare Partners, a DaVita Medical Group has already leased the new building. It will be used for primary and urgent care services. This project marks the first of several phases of healthcare investment and development in the area, establishing the Pico-Union neighborhood as a new healthcare hub in the Downtown West Area. Oltmans Construction Co. is building the project, which Ware Malcomb designed. The next phase, City West Medical, will include a 48,000-square-foot, healthcare-related project and subterranean parking.

February 21, 2017

California Office Western

Nativo Leases Headquarters Space at Pacific Corporate Towers in Los Angeles

by Nellie Day February 21, 2017

LOS ANGELES — Nativo has leased 25,051 square feet of office space at Pacific Corporate Towers (PCT) in the Los Angeles submarket of El Segundo. The building is located at 100, 200 and 222 N. Sepulveda Blvd. Nativo will relocate from 9,000 square feet in the 200 building to PCT’s 100 building for its new corporate headquarters. JLL’s Jason Fine represented Nativo in the lease. CBRE represented the landlord, GM Pension Fund / Blackrock.

February 21, 2017

California Loans Retail Western

Sterling Organization Receives $12.1M in Acquisition Financing for Retail Building in Beverly Hills

by Nellie Day February 21, 2017

BEVERLY HILLS, CALIF. — Sterling Organization has received $12.1 million in financing for the acquisition of a vacant 4,700-square-foot retail building located on North Beverly Drive in Beverly Hills. Marc Schillinger, Chris Drew and Ryan Ash of HFF worked on behalf of the borrower to place the non-recourse, fixed-rate loan at $2,583 per-square-foot.

February 21, 2017

California Office Western

LevitZacks Relocates Headquarters Within Downtown San Diego

by Nellie Day February 21, 2017

SAN DIEGO — LevitZacks, a public accounting firm, has leased a 14,424-square-foot office space in downtown San Diego. The new space is in 450 B Tower, which is located at 450 B St. The firm will relocate from nearby 701 B St. LevitZacks was looking to upgrade its headquarters, while creating a more efficient floor plan and reducing its real estate costs. JLL’s Joe Bernstein and Bill Fleck represented LevitZacks in the lease. The firm’s Julie Kilpatrick will oversee the build-out for LevitZacks. CBRE represented the landlord, Bollert/LeBeau Inc.

February 21, 2017

California Market Reports Retail Western Western Market Reports

OC’s Retail Market to Remain Stable With Mild Volatility

by Camren Skelton February 21, 2017

Expect the Orange County retail landscape to be characterized by continued strong fundamentals and high transaction volumes in 2017. The area remains among the most stable markets nationally—attractive to both high-end and affordable retailers thanks to its high median income and population growth. However, a bit of volatility would be welcomed in the coming year to generate leasing opportunities and enhance rental rate growth. Significant store closings, including a selection of Walmarts, Macy’s, Staples and Sears, in addition to Sports Authority and Sports Chalet locations, affected many of our regional malls and shopping centers in 2016. As a result, we will continue to see more space absorbed rather than closed or constructed in the coming year. This type of instability breeds opportunity. From grocers to soft goods to restaurateurs, traditional and non-traditional retailers remain motivated to identify what works best across Southern California. Retailers who have been working to right-size and reconfigure their traditional formats will catch everyone’s attention in 2017. Target recently announced the opening of a flex-format concept with plans for a 41,000-square-foot store in Orange in the fall. Burlington Coat Factory has been evaluating a smaller footprint, while 365 by Whole Foods will soon enter the Orange …

February 21, 2017

California Loans Office Western

Natixis Provides $75M Refinancing to Pollock Realty Corp. for Silicon Valley Office Portfolio

by Nellie Day February 20, 2017

PALO ALTO AND REDWOOD CITY, CALIF. — Natixis has provided a $75 million loan to Pollock Realty Corp. to refinance three office buildings in Silicon Valley. The refinance included an 81,031-square-foot property in the Stanford Research Park in Palo Alto; a separate, 56,279-square-foot building in Stanford Research Park in Palo Alto; and a 34,796-square-foot building in the Redwood Shores region of Redwood City. Gregory Gray of Barry Slatt Mortgage arranged the financing, which was originated out of Natixis’ Los Angeles office.

February 20, 2017

Multifamily Nevada Western

Hamilton Zanze Acquires Alicante Villa Apartments in Las Vegas for $35.5M

by Nellie Day February 20, 2017

LAS VEGAS — Hamilton Zanze has purchased the 232-unit Alicante Villa Apartments in Las Vegas for $35.5 million. The community is located at 4370 S. Grand Canyon Drive. Alicante Villa was built in 2001 four miles from downtown Summerlin. CBRE’s Jeffrey Swinger represented the seller, Kislak, in this transaction.

February 20, 2017

Multifamily Washington Western

Security Properties Buys Beaumont Grand Apartments in Lakewood for $35.2M

by Nellie Day February 20, 2017

LAKEWOOD, WASH. — Security Properties has acquired the 267-unit Beaumont Grand apartments in Lakewood for $35.2 million. The community is located at 8504 82nd St. SW. It is situated near the Port of Tacoma and Joint Base Lewis-McChord, a U.S. military installation supporting more than 66,000 jobs. The property is 95 percent leased. HFF’s Ira Virden and Chris Ross represented the seller, Grand Peaks Properties, and its finance partner, Pacific Coast Capital Partners, in this transaction.

February 20, 2017

Industrial Nevada Western

Alston Construction Completes Facility for 3G Productions in Las Vegas

by Nellie Day February 20, 2017

LAS VEGAS — Alston Construction has completed a 68,875-square-foot, built-to-suit facility for 3G Productions in Las Vegas. The new facility is located on 5.4 acres at the corner of Euclid Avenue and Russell Road. The firm completed a 51,400-square-foot concrete tilt up building with a 16,875-square-foot steel/concrete deck mezzanine to be used in the future by the owner. PFIILP Eastern Russell 70 LLC owns the $9 million project. 3G Production will offer the facility as a corporate event venue.

February 20, 2017

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