Western

Ray Stone Acquires 102-Unit Independent Living Community in Redding

by Nellie Day November 18, 2016

REDDING, CALIF. — Ray Stone Inc. has acquired River Oaks Retirement Community, a 102-unit independent living community in Redding, approximately 160 miles north of Sacramento. The price was not disclosed. Ray Stone will rebrand the community as River Commons and add it to the Ray Stone Senior Living Portfolio. River Commons was built in 1986 by the Rogers family, which operated the community until the sale. The community featured a stabilized occupancy over 94 percent. The bulk of the apartments have been renovated within two years. Ray Stone, a Sacramento-based investment and management firm, plans to implement $400,000 in aesthetic upgrades during the first two years of ownership. Jason Punzell of Senior Living Investment Brokerage represented the seller, Hartnell Associates, in the transaction.

November 18, 2016

California Retail Western

CBRE Negotiates $8M Sale of Restaurant Property in Hollywood

by Nellie Day November 18, 2016

HOLLYWOOD, CALIF. — CBRE has arranged the sale a restaurant property located at 7001 Santa Monica Blvd. in Hollywood. A private real estate investor and developer acquired the asset from a private family trust for $8 million. The half-acre site features a 5,410-square-foot restaurant occupied by Shakey’s Pizza Parlor. Alex Kozakov, Patrick Wade and Fred Aframian of CBRE represented the seller and the buyers in the deal.

November 18, 2016

California Retail Western

Cushman & Wakefield Negotiates Sale-Leaseback of Chuze Fitness Property in Metro San Diego

by Nellie Day November 18, 2016

SANTEE, CALIF. — Cushman & Wakefield has negotiated the sale-leaseback of a 21,500-square-foot property occupied by Chuze Fitness in the San Diego suburb of Santee. The price was not disclosed. Paragon Properties acquired the property, located within Santee Town Center, from Chuze Fitness. Chad Lafrate and Kevin Held of Cushman & Wakefield represented Chuze Fitness in both the sale and lease transactions.

November 18, 2016

California Retail Western

GLL Completes Repositioning of Retail Center in Del Mar

by Nellie Day November 18, 2016

DEL MAR, CALIF. — GLL Real Estate Partners’ Del Mar Plaza has reached 90 percent occupancy following a joint repositioning effort with JLL. The 74,631-square-foot open-air center is located at 1555 Camino Del Mar in Del Mar. New tenants include Salon Republic, Union Bank, Del Mar Rendezvous, Momma’s Medi Spa, Del Mar Nails, PS Platinum, Kitchell Development and Fine Magazine. Each new tenant is slated to open by summer 2017. Craig Killman and Corinna Gattasso of JLL are handling leasing at the center.

November 18, 2016

California Office Western

Lincoln Property, Alcion Ventures Move Forward with 870,000 SF Office Campus in Tustin

by Nellie Day November 17, 2016

TUSTIN, CALIF. — Lincoln Property Co. and Alcion Ventures have gained approval from the City of Tustin to move forward on Flight, an 870,000-square-foot creative office campus within the 1,600-acre master-planned community of Tustin Legacy. Flight will contain a mix of four-story buildings with outdoor platform decking and roll-up doors. The Rios Clementi Hale Studios-designed buildings will feature perforated metal building skins that shade the indoor/outdoor office space and large glass curtain walls on the ends to allow light penetration. Flight will be constructed in two phases, with Phase I anticipated to begin in early 2017 and finish within 14 to 18 months. Phase I will include more than 470,000 square feet of office space, a mess hall and conference center.

November 17, 2016

California Multifamily Western

JRK Property Holdings Purchases 168-Unit Apartment Complex in Oxnard for $30.7M

by Nellie Day November 17, 2016

OXNARD, CALIF. — JRK Property Holdings has purchased the 168-unit Rancho Solana apartments in Oxnard for $30.7 million. The community is located at 2444 Alvarado St. Rancho Solana borders RiverPark, a 704-acre master planned community, that includes a mix of housing, schools and 14 community parks. The community was 99 percent leased at closing. Amenities include controlled access, swimming pool and spa, barbecue area, sports court, children’s playground and covered parking. Gregory Harris, Kevin Green and Joseph Grabiec of IPA represented both parties in the transaction. The seller was a private investor.

November 17, 2016

California Multifamily Western

Century West Partners Completes Chelsea Luxury Apartments in Santa Monica

by Nellie Day November 17, 2016

SANTA MONICA, CALIF. — Century West Partners has completed construction of the 56-unit Chelsea luxury apartment building in Santa Monica. The community is located at 1320 2nd St. in the downtown area. Chelsea’s units are set within a four-story building atop two restaurants, occupying 3,150 square feet and 2,850 square feet, respectively.

November 17, 2016

Colorado Industrial Western

Prologis Buys 40-Acre Industrial Site in Denver

by Nellie Day November 17, 2016

DENVER — Prologis has purchased a 40-acre industrial site in Central Denver for an undisclosed sum. The infill site is located at 6030 Washington St. The area is undergoing a significant redevelopment, which may displace a number of industrial tenants who will need to seek out new spaces within the area. Some of the most notable projects include the redevelopment of the National Western Stock Show, the reconstruction of I-70 between Brighton and Colorado boulevards and the continued transformation of the RiNo district. Matt Trone, Steve Hager and Sam Slaton of Cushman & Wakefield represented the seller, Northwest Pipe Co., in this transaction. The team will also act as Prologis’ leasing agents.

November 17, 2016

Arizona Multifamily Western

Olympus Property Acquires 194-Unit Vive Apartments in Chandler

by Nellie Day November 17, 2016

CHANDLER, ARIZ. — Olympus Property has purchased the 194-unit Vive in Chandler apartment community for an undisclosed sum. The Class A community is located at 1901 W. Germann Road in the South Price Corridor submarket. Vive was built in 2014. Property amenities include a 24-hour fitness center, resort pool with spa, clubhouse with billiard table, cinema room and an outdoor fireplace with seating. The South Price Corridor features notable employers like Intel, Wells Fargo, Orbital ATK, PayPal, Infusionsoft and GM Financial. The North Price Corridor plays host to Microchip Technology, Bank of America, GM Arizona IT Innovation Center, CVS Health, SanDisk and Pearson Education.

November 17, 2016

Multifamily Oregon Western

Holland Partner Group, Invesco Buy LaSalle Apartments in Beaverton for $140M

by Nellie Day November 16, 2016

BEAVERTON, ORE. — A joint venture between Holland Partner Group and Invesco Real Estate has acquired the 566-unit LaSalle Apartments in Beaverton for $140 million. The community is located at 15021 S.W. Millikan Way. It is situated near the Nike World Headquarters. CBRE’s Debt & Structured Finance Team arranged financing. Josh McDonald, Eli Hanacek and Jon Hallgrimson of the CBRE Capital Markets Pacific Northwest Institutional Properties team represented both the buyer and seller, Waterton, in this transaction.

November 16, 2016

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