COMPTON, CALIF. — United Parcel Service (UPS) has signed a 10-year lease for 521,816 square feet at the Brickyard in Compton. The Brickyard is a 1 million-square-foot industrial development on the site of a former brick manufacturing facility. JLL’s Mike Fowler and Tim O’Rourke represented UPS. CBRE’s Bret Quinlan is acting as the leasing agent for the landlord, Trammell Crow.
COLORADO SPRINGS, COLO. — Koelsch Communities is developing Springs Ranch Memory Care Community, a 72-unit memory care community in Colorado Springs, approximately 65 miles south of Denver. Development costs are estimated at $18.4 million. Koelsch expects to open the community in spring 2017. The 72 units are divided into 12-resident cottages in a neighborhood setting. Development Partners include Madrona Point Development, RJ Development and Koelsch Construction. Koelsch Communities is an Olympia, Wash.-based seniors housing operator with 22 locations in six states. Springs Ranch will mark the company’s first entry into Colorado.
SCOTTSDALE — Alvarado Realty has purchased a 50,789-square-foot office building in the master-planned community of McCormick Ranch for $7.7 million. The building is located at 8700 E. Via de Ventura within the Phoenix suburb of Scottsdale. The space is 92.6 percent occupied. It was built in 1986. Bob Buckley, Tracy Cartledge, Steve Lindley and Ben Geelan of Cushman & Wakefield represented the seller, TA Realty, in this transaction.
NORTH LAS VEGAS, NEV. — Boyd Gaming Corp. (NYSE: BYD) has completed the acquisition of ALST Casino Holdco LLC, the holding company of Aliante Casino Hotel and Spa. Boyd bought the property for $380 million, according to the Las Vegas Sun. Aliante is Boyd Gaming’s first casino property in North Las Vegas, and its 10th property in the Las Vegas Valley. The company now owns and operates 22 casino properties in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana and Mississippi. “As the premier gaming asset in North Las Vegas, Aliante provides a tremendous opportunity to participate in the long-term growth of the northern part of the Las Vegas Valley,” says Keith Smith, president and CEO of Boyd Gaming. Aliante opened in November 2008 at a cost of more than $660 million under the name Aliante Station, and was originally a joint venture between Station Casinos and the Greenspun family. A group of banks and private equity companies became the new owners in 2011 as a result of the property’s bankruptcy restructuring. Boyd’s plan to purchase the property was first announced in April 2016. Aliante Casino Hotel and Spa includes an 82,000-square-foot casino floor, 170-seat race and sports book, 202-room hotel, 16-screen …
ENGLEWOOD, COLO. — Angelo, Gordon & Co. has acquired CH2M Global Headquarters, a 370,485-square-foot office campus in Englewood, for $122 million. The three-building campus is located at 9189, 9191, and 9193 S. Jamaica St. within Meridian International Business Center. The campus was built in 2002. It is fully leased to CH2M Hill, an engineering and construction firm. Angelo, Gordon & Co. represented itself in the transaction, while NGKF’s Kevin Shannon, Ken White, and Laura Stumm, Dave Tilton, Jamie Gard and Jeff Castleton represented the seller, Columbia Property Trust. The firm’s David Milestone and Brett Green arranged debt on behalf of the buyer.
KENT, WASH. — MG Properties Group (MGPG) has purchased The Mosaic Hills Apartments in Kent for $51.6 million. The community is located at 10811 S.E. 239th Place. Mosaic Hills was built in 1980. MGPG plans to reposition the property through a multi-million-dollar renovation plan that will include upgrades to the property’s common areas and unit interiors, as well as a capital investment to cure deferred maintenance. MGPG financed the acquisition using a $41.3M Freddie Mac loan that Charles Halladay and Lee Redmond at HFF arranged. Giovanni Napoli and Phillip Assouad at Kidder Mathews represented the seller.
SEAL BEACH, CALIF. — Parallel Capital Partners has received $48.5 million to refinance The Ranch at Seal Beach, a 297,410-square-foot office complex. The complex is located at 3001-3005, 3010, 3020 and 3030 Old Ranch Parkway in Seal Beach. The Ranch at Seal Beach is 93 percent leased to tenants like Leidos, Olson Urban Housing and Merrill Lynch. KPMG, UBS and Keller Williams recently signed new leases at the complex, while Wells Fargo renewed its lease and Finance of America Mortgage expanded its space. Parallel purchased the property in 2013 for $85 million. The complex, formerly known as Bixby Office Park, underwent a rebranding and $1.5 million repositioning. Pacific Western Bank secured the refinancing. JLL’s George Thomson and James Estrada represented Parallel in the lease transactions.
PHOENIX — Pacific Real Estate Partners has purchased the 360-unit Maya Linda apartment complex in Phoenix for $21 million. The community is located at 8222 N. 19th Ave. Maya Linda was built in 1981. It is situated near I-17, Loop 101 and SR-51. Jim Crews and Brett Polachek of Cushman & Wakefield Phoenix represented the owner, MG Properties, in this transaction.
OGDEN, UTAH — An out-of-town investor has purchased a 258,902-square-foot industrial building in Ogden for an undisclosed sum. The building is located at 1330 W. 3300 S. The deal represents one of the largest transactions of its kind in Weber County this year. Jeff Heaton and Eli Priest of Newmark Grubb ACRES represented the seller.
BERKELEY, CALIF. — EdR has completed the $45 million renovation and modernization of Bowles Hall at the University of California, Berkeley. The residence hall features renovated residential suites, each with an attached bathroom; in-house dining facilities; library; individual and dedicated study and seminar rooms; main lounge; game room; and in-residence faculty and graduate student advisors.