Western

The Gymboree Corporation’s CEO to Step Down

by Nellie Day January 30, 2017

SAN FRANCISCO — The Gymboree Corporation’s current CEO, Mark Breitbard, will assume the role of chairman of the board of directors, effective Feb. 1, 2017, and will step down as chief executive officer once a successor has been appointed. The board of directors will initiate a search to identify a CEO to lead the San Francisco-based company. As of Oct. 29, 2016, The Gymboree Corporation operated a total of 1,300 children’s apparel stores: 591 Gymboree stores (541 in the United States, 49 in Canada and one in Puerto Rico); 174 Gymboree Outlet stores (173 in the United States and one in Puerto Rico); 150 Janie and Jack shops (149 in the United States and one in Puerto Rico); and 385 Crazy 8 stores in the United States.

January 30, 2017

California Retail Washington Western

Macerich Sells Two Retail Centers to Merlone Geier Partners for $170M

by Nellie Day January 27, 2017

SAN RAFAEL, CALIF., AND BURLINGTON, WASH. — Macerich has completed the disposition of two retail centers in California and Washington. Merlone Geier Partners acquired the properties — Northgate Mall in San Rafael and Cascade Mall in Burlington — for $170 million. The transaction resulted in net proceeds to Macerich of approximately $100 million after the repayment of a floating-rate note on Northgate Mall.

January 27, 2017

Colorado Multifamily Student Housing Western

H. Katz, Coastal Ridge Acquire 712-Bed Student Housing Community Near Colorado State

by Nellie Day January 27, 2017

FORT COLLINS, COLO. — A joint venture between H. Katz Capital Group and Coastal Ridge Real Estate has acquired Aspen Heights Fort Collins, a 712-bed community located near Colorado State University in Fort Collins. The price was not disclosed. Coastal Ridge has taken over management of the property, and is in the process of re-branding the community as The Outpost. The development offers two-, three-, four- and five-bedroom apartment-style units and cottages, with private bathrooms and guest half-baths, washers and dryers, and walk-in closets. Community amenities include a 24-hour fitness center, yoga studio, resort-style pool, hot tub, outdoor grills, a clubhouse, computer lab, sand volleyball court, movie theater, study lounge, tanning beds and a private shuttle. The property was sold by TSB Realty. TSB Capital Advisors assisted the joint venture in procuring a senior loan through Walker Dunlop and Freddie Mac.

January 27, 2017

California Mixed-Use Multifamily Retail Western

Marcus & Millichap Brokers $21.2M Sale of Development Site in West Hollywood

by Nellie Day January 27, 2017

WEST HOLLYWOOD, CALIF. — Marcus & Millichap has brokered the sale of a mixed-use development site located at 431 N. La Cienega Blvd. in West Hollywood. A group of local and national developers acquired the 32,574-square-foot site for $21.2 million. At the time of sale, the property was occupied by Royal Car Wash and other local retailers. The property also features multifamily units. Brandon Michaels and Lonnie McDermott of Marcus & Millichap represented the undisclosed seller and procured the buyer in the transaction.

January 27, 2017

California Retail Western

CBRE Facilitates $13.3M Sale of Retail Property in Los Angeles

by Nellie Day January 27, 2017

LOS ANGELES — CBRE has arranged the sale of Silver Lake Collection, a 10,497-square-foot retail property located at 3701-3713 W. Sunset Blvd. and 1601 Griffith Park Blvd. in the Silver Lake section of Los Angeles. 9 Mile Investments sold the property to a subsidiary of Strategic Realty Trust Inc. for $13.3 million. At the time of sale, the property was fully occupied by three restaurant and beverage tenants. Philip Voorhees, Todd Goodman, Preston Fetrow, Kirk Brummer, Megan Wood, Matt Burson, Jimmy Slusher and John Read of CBRE represented the seller and buyer in the deal.

January 27, 2017

California Retail Western

Lee & Associates Arranges Lease of 5,700 SF Retail Space in Vista

by Nellie Day January 27, 2017

VISTA, CALIF. — Lee & Associates has arranged the lease of 5,700 square feet of retail space at 3186 Vista Way in Vista. 5.11 Tactical, a supplier of tactical apparel and gear, will occupy the space, which was formerly occupied by Hooters. The lease is valued at $1.4 million. Randall Dalby, Rusty Williams and Chris Roth of Lee & Associates – North San Diego County represented the landlord, 3186 Vista Way LP, while James Arthur of CBC Advisors represented the tenant in the deal.

January 27, 2017

Arizona Multifamily Western

Walker & Dunlop Originates $47.2M in Construction Financing for Apartment Complex in Mesa

by Nellie Day January 26, 2017

MESA, ARIZ. — Walker & Dunlop has originated $47.2 million in HUD financing for construction of the 325-unit Aviva apartment complex in Mesa. The affordable housing community is located at 8350 E. Baseline Road. Aviva will contain one- to three-bedroom units. Construction recently commenced with a scheduled opening in the third quarter of 2018. The total development cost is $63 million.

January 26, 2017

Multifamily Student Housing Utah Western

Marcus & Millichap Arranges Sale of 336-Bed Student Housing Community Near BYU

by Nellie Day January 26, 2017

PROVO, UTAH — Marcus & Millichap has arranged the sale of Pacific Heights Apartments, a 336-bed student housing community located near Brigham Young University in Provo. The price was not disclosed. The property offers fully furnished three-, four-, five- and six-bedroom units. Brock Zylstra and Danny Shin of Marcus & Millichap represented the seller, a local development group based in Alpine, Utah, and procured the buyer, College Place Partners.

January 26, 2017

California Office Western

Avid Center Buys Office Building in San Diego for $30.1M

by Nellie Day January 26, 2017

SAN DIEGO — Avid Center has purchased a 92,463-square-foot office building in San Diego for $30.1 million. The building is located at 9797 Aero Drive. The space recently underwent a $5 million repositioning. It is currently leased to Berkley Insurance and Vital Decisions. John Jarvis of Hughes Marino represented Avid, while Derek Hulse of Cushman & Wakefield represented the seller, Bixby Land Co.

January 26, 2017

Loans Multifamily Washington Western

Parkview Financial Closes $16.2M Loan for Multifamily Property in Vancouver

by Nellie Day January 26, 2017

VANCOUVER, WASH. — Parkview Financial has secured a $16.2 million loan for a 124-unit multifamily development in Vancouver. The community is being developed along 134th Street.

January 26, 2017

Newer Posts

Older Posts