Western

Dermody Properties Breaks Ground on LogistiCenter at 167 Near Tacoma

by Nellie Day May 18, 2016

TACOMA, WASH. — Dermody Properties has broken ground on LogistiCenter at 167, a 225,972-square-foot industrial facility in Fife. The facility will be located at 7450 26th St. E., just east of Tacoma. LogistiCenter at 167 is situated 1.7 miles from Interstate 5 and the Port of Tacoma, the largest deep-water port in Washington. Other industrial operations in the neighborhood include Regal Distribution, Milgard Windows & Doors, Mission Foods, American Fast Freight, Gensco, Fed Ex Freight, Odom Corp., Pexco, UPS and Prologix Distribution Services. Craft Architects is designing the building and the general contractor is Poe Construction. Vanessa Herzog, Patricia Loveall and Kraig Heeter of Kidder Mathews are representing Dermody.

May 18, 2016

California Retail Western

Smart & Final Opens 33 Stores in California

by Nellie Day May 18, 2016

COMMERCE, CALIF. — As part of its growth plan, Smart & Final has opened 33 Smart & Final Extra! warehouse-style grocery stores in California. The locations, which were acquired in December 2015, were previously operated under the Haggen banner. Between January 20, 2016 and May 11, 2016, Smart & Final opened 11 Smart & Final Extra! stores in the San Diego area, seven in Los Angeles County, four in Orange County, three in Ventura County, four in the Central Coast, and two in the Inland Empire — all of which were formerly operated under the Haggen banner — and one additional non-Haggen location in Sacramento County. Currently, Smart & Final operates 306 stores in California, Oregon, Washington, Arizona, Nevada and Idaho, including 251 Smart & Final banner stores, 160 of which are Smart & Final Extra! format stores.

May 18, 2016

Arizona Multifamily Western

IMT Capital Acquires Sienna at Riverview Apartments in Mesa for $53.8M

by Nellie Day May 17, 2016

MESA, ARIZ. — IMT Capital has purchased the 340-unit Sienna at Riverview apartment complex in Mesa for $53.8 million. The community is located at 711 N. Evergreen Road. It was developed in 1999. Marina Heights, Arizona’s largest office development, is currently being developed on the south bank of Tempe Town Lake, less than three miles from Sienna at Riverview. Steve Gebing and Cliff David of Marcus & Millichap’s National Multi Housing Group, represented both the buyer and seller, LCOR, in this transaction.

May 17, 2016

Retail Washington Western

CBRE Arranges $26.7M Sale of Lincoln Plaza in Tacoma

by Nellie Day May 17, 2016

TACOMA, WASH. — CBRE has arranged the $26.7 million sale of Lincoln Plaza, an 80,922-square-foot retail center located in Tacoma. The center is 95 percent occupied by tenants including Big 5, Jared, Men’s Wearhouse, Sketchers, Starbucks Coffee, Wingstop and Sprint. Philip Voorhees, Brad Rable, Megan Wood, Matt Burson, Jimmy Slusher, Todd Goodman, Preston Fetrow and Dino Christophilis of CBRE represented the seller, PASSCO Cos. LLC. The buyer, a privately held real estate partnership based in the Pacific Northwest, represented itself in the transaction.

May 17, 2016

Multifamily Oregon Seniors Housing Western

Colliers Brokers $10.4M Sale of 102-Unit 55+ Mobile Home Park

by Nellie Day May 17, 2016

EUGENE, ORE. — FollettUSA has purchased Summer Oaks, a 102-home 55+ mobile home park in Eugene, for $10.4 million. The seller was Zacorn LLC. Colliers International Portland represented both parties in the transaction. The company’s team on the deal included Skip Rotticci, vice president, and associates Alexander Cheng and Kenneth Verbeck. The sales price equates to $102,000 per pad and a capitalization rate of 4 percent.

May 17, 2016

California Retail Western

Hanley Investment Group Arranges $3.2M Sale of Glenwood Square Near Bakersfield

by Nellie Day May 17, 2016

DELANO, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $3.2 million sale of Glenwood Square, a 6,808-square-foot retail strip center located in Delano, just north of Bakersfield. The property is anchored by Starbucks Coffee, and is fully occupied by tenants including Subway, T-Mobile, Tutti Frutti and Select Staffing. Bill Asher of Hanley represented the seller, Glenwood Cecil LLC, in the transaction. Sean Daryani of RE/MAX represented the buyer, a Los Angeles-based family trust.

May 17, 2016

Montana Multifamily Student Housing Western

Grand Campus Living to Manage 46 North Apartments Near the University of Montana

by Nellie Day May 17, 2016

MISSOULA, MONT. — Farran Realty Partners has awarded Grand Campus Living management of 46 North Apartments, a 468-bed student housing community under development near the University of Montana in Missoula. The property will be the first purpose-built student housing community in Missoula. Community amenities will include dedicated study lounges and a study center, music practice rooms, a social lounge, fitness center, tanning lounge, bike storage and maintenance, ski tuning rooms, a cyber lounge, interior courtyards for community gardens and 6,500 square feet of street-level retail. The new development will offer a mix of studio, one-, two- and four-bedroom units with double occupancy available in select floor plans, alongside two levels of parking. The fully furnished apartments will feature modern appliances including full-size washers and dryers.

May 17, 2016

California Retail Western

NGKF Capital Markets Brokers $51M Sale of the Marketplace at Windingwalk in Chula Vista

by Nellie Day May 16, 2016

CHULA VISTA, CALIF. — NGKF Capital Markets has arranged the sale of the Marketplace at Windingwalk, a neighborhood retail center located in Chula Vista’s Eastlake submarket. Zurich Alternative Asset Management acquired the property from Shea Properties for $51 million. Built in 2008 and situated on 9.3 acres of land, the 104,206-square-foot property is located at 1754-2160 Eastlake Parkway. At the time of sale, the property was 96 percent occupied by tenants including Vons Supermarket, In-N-Out Burger, Wells Fargo and Bank of America. Pete Bethea, Rob Ippolito and Glenn Rudy of NGKF Capital Markets represented the seller in the deal.

May 16, 2016

California Office Western

Construction Begins for Santa Monica Gateway Office Project

by Nellie Day May 16, 2016

SANTA MONICA, CALIF. — Construction has commenced on Santa Monica Gateway, a 200,000-square-foot creative office campus in Santa Monica. The project will be located at 2834 Colorado Ave. The property offers 10,600- to 36,000-square-foot floor plates in a two-building, four-story campus with a three-level subterranean garage. The campus will be ready for occupancy in late 2017. DRDS and Gruen Associates are designing the project. JLL’s Carl Muhlstein and Tom Cherry are leading the leasing efforts. The firm is also handling project and development management.

May 16, 2016

California Industrial Western

LBA Realty Buys Distribution Building in Fremont for $28.5M

by Nellie Day May 16, 2016

FREMONT, CALIF. — LBA Realty has purchased a 177,041-square-foot manufacturing and warehouse distribution building in Fremont for $28.5 million. The facility is located at 5555 Auto Mall Parkway, directly across from Pacific Commons Shopping Center and one block from Interstate 880. Synnex Corp. occupies the space. The seller is Sean Pathiratne, owner of LS Auto Mall. Greig Lagomarsino and Nick Ousman of Colliers International and CBRE’s Brian Matteoni executed the transaction.

May 16, 2016

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