Western

Construction Begins on New Southern California Logistics Centre Facility in Victorville

by Nellie Day April 13, 2016

VICTORVILLE, CALIF. — Construction has commenced on a 444,740-square-foot industrial facility at Southern California Logistics Centre (SCLC) in Victorville. The new building is scheduled for completion and occupancy this fall. Stirling Capital Investments, which has already delivered more than 3 million square feet of Class A industrial space at SCLC, is developing the 2,500-acre commercial and industrial complex. A national manufacturer has already secured the 211,000-square-foot pre-lease commitment. The remaining space is now committed to a second multi-national tenant that will utilize the 233,740-square-foot space for regional and national product distribution. SCLC, along with the Southern California Logistics Airport (SCLA) and the Southern California Rail Complex (SCRC), comprise Global Access Victorville. The complex is entitled for 60 million square feet of development.

April 13, 2016

California Office Western

KT Properties Urban Buys Office Building in Santa Clara for $19M

by Nellie Day April 13, 2016

SANTA CLARA, CALIF. — KT Properties Urban has purchased a 70,520-square-foot R&D office building in Santa Clara for $19 million. The building is located at 3055 Patrick Henry Drive. It was vacant at the time of sale. Tom Trombatore of Colliers International represented KT Properties. The seller was Hudson Pacific Properties.

April 13, 2016

California Retail Western

Hanley Investment Group Arranges Sale-Leaseback of Wendy’s in Metro San Diego

by Nellie Day April 13, 2016

LA MESA, CALIF. — Hanley Investment Group has arranged the sale-leaseback of a 2,806-square-foot, single-tenant Wendy’s restaurant in the San Diego suburb of La Mesa. The triple-net-leased property sold for $4.1 million. The sale included both the land and the building, and featured a new 20-year lease with increases every five years. Eric Wohl of Hanley represented the San Diego-based seller, which operates 54 Wendy’s locations in California. The buyer, represented by Thomas Ahn of Integrity Capital, was a private investor based in San Diego.

April 13, 2016

Industrial Washington Western

Monmouth Real Estate Buys Industrial Building in Washington State for $30.6M

by Nellie Day April 12, 2016

BURLINGTON, WASH. — Monmouth Real Estate Investment Corp. has purchased a 210,445-square-foot industrial building in Burlington for $30.6 million. The building is net leased to FedEx Ground Packaging System for 15 years. It is located at 2000 S. Walnut St.

April 12, 2016

California Retail Western

Dunkin’ Donuts Plans 29 New Restaurants in California

by Nellie Day April 12, 2016

SAN FRANCISCO — Dunkin’ Donuts has signed multi-unit store development agreements with four franchise groups for a total commitment of 29 new restaurants throughout California over the next several years. The development plans include: • New franchisee Golden Gate Restaurant Group LLC plans to develop 12 new restaurants in the San Francisco Bay area within Contra Costa County. Led by Matt Cobo, this team’s first restaurant is scheduled to open in 2016. • New franchise group Far North Ventures LLC plans to develop 10 new restaurants in Chico, Redding, Yreka and Eureka. Led by partners Pietro Saviotti and Rick Lavezzo, the group’s first restaurant is scheduled to open in 2017. • New franchisees Mohammed and Shanaz Hussain plan to develop two new Dunkin’ Donuts in Upper Lakes and Ukiah. The husband and wife duo’s first restaurant is scheduled to open in 2016. • New franchisees Glen and Kirsten Tharp of Coastal Foods Group Inc., alongside partner Payman Khania, plan to develop five new restaurants in Santa Barbara and San Luis Obispo counties. The team’s first location is scheduled to open in 2017.

April 12, 2016

California Retail Western

Retail California Negotiates Three Retail Leases Totaling 29,936 SF

by Nellie Day April 12, 2016

BAKERSFIELD, HANFORD AND CLOVIS, CALIF. — Retail California, a division of Pearson Realty, has arranged three retail leases totaling 29,936 square feet. In the first transaction, Panda Express signed a lease for 26,136 square feet of retail space at 4925 E. Brundage Lane in Bakersfield from Equity Retail LP. Lewis Smith of Retail California represented the tenant, while Bo Lundy of JBL Commercial represented the landlord in the deal. In the second transaction, Dunkin’ Donuts leased 2,000 square feet of retail space at 1695 W. Lacey Blvd. in Hanford from Passco Hanford Mall LLC. Smith represented the landlord, while Trampis Chandler of Commercial West represented the tenant in the transaction. In the third deal, Sprint Store by Wireless Lifestyle inked a lease for 1,800 square feet of space at Trading Post Shopping Center in Clovis from DN Clovis LLC. Smith and Peter Orlando of Retail California represented the landlord, and Ariel Fox of Retail West represented the tenant in the transaction.

April 12, 2016

Nevada Retail Western

Crate & Barrel To Open First Nevada Location

by Nellie Day April 12, 2016

LAS VEGAS — Crate & Barrel has signed a lease to open a store at Downtown Summerlin, a 106-acre fashion, dining and entertainment development located in the Summerlin master-planned community. This will mark the first Nevada location for the retailer. Since opening in October 2014, Downtown Summerlin estimates that 17 million people have visited the development. It has opened 115 retailers in the first phase, which includes 1.4 million square feet of mixed-use development on 106 of the property’s 300 developable acres.

April 12, 2016

Arizona Multifamily Western

3rd Ave Investments Buys Sonoma Terrace Apartments in Glendale for $15.3M

by Nellie Day April 11, 2016

GLENDALE, ARIZ. — 3rd Ave Investments has purchased the 260-unit Sonoma Terrace Apartments in Glendale for $15.3 million. The community is located at 5220 W. Northern Ave. It was built in 1979. Trevor Koskovich, Bill Hahn and Jeff Sherman, all with Colliers’ Phoenix office, represented both the buyer and seller, Mentor Properties, in this transaction.

April 11, 2016

Industrial Utah Western

ExtraSpace Signs 50-Year, 42,197 SF Lease at New Facility in Utah

by Nellie Day April 11, 2016

HOLLADAY, UTAH — ExtraSpace has leased 42,197 square feet of space at 5580 S. Van Winkle Expressway in Holladay. The lease is for 50 years. The space is under construction. When completed, it will be a double-deck, climate-controlled storage facility. ExtraSpace Storage is the second largest indoor storage company in the USA, with 1,350 locations. Chris Monson and Brett Palmer of Mountain West Commercial Real Estate represented the landlord in the transaction.

April 11, 2016

California Retail Western

illi Commercial Real Estate Brokers Three Leases in California Totaling 3,264 SF

by Nellie Day April 11, 2016

LOS ANGELES, NORTH HOLLYWOOD AND SANTA CLARITA, CALIF. — illi Commercial Real Estate has arranged three leases totaling 3,264 square feet. In Los Angeles, Wing Factory leased 1,234 square feet of space at 2454 W. Pico Blvd. Gregg Offsay and Dimas Rangel of illi Commercial arranged the leased. In North Hollywood, Kids & Teens Medical Group signed a lease for 1,440 square feet of space at 7544 Laurel Canyon Blvd. Mike Payne of illi represented the tenant, while Sunil Felician De Silva represented the undisclosed landlord in the transaction. In Santa Clarita, Farmers Insurance leased 590 square feet of space at 26256 Bouquet Canyon Road. Jonathan Daniels of illi represented the tenant, while Realty Executives Valencia represented the undisclosed landlord in the deal.

April 11, 2016

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