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Red-Table-Apts-Gypsum-CO
ColoradoLoansMultifamilyWestern

JLL Provides $18.7M Loan for Red Table Apartments in Gypsum, Colorado

by Amy Works

GYPSUM, COLO. — JLL Capital Markets has provided an $18.7 million Freddie Mac loan for Red Table Apartments, a multifamily property in Gypsum. Tony Nargi of JLL Capital Market’s Debt Advisory led the team that arranged the 10-year, fixed-rate loan on behalf of the borrower, Brikwell. Located at 765 Red Table Drive, Red Table Apartments offers 77 studio, one- and two-bedroom units in a three-story building. Units feature hard surface LVP flooring, stainless steel appliances and butcher box countertops. Situated on 3.5 acres, the community offers commercial laundry facilities, a basketball court, community grills, a picnic patio area and 45 attached and detached garages. The property was built in 2009 and expanded in 2018.

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AcquisitionsArizonaMultifamilyWestern

Goodegg Investments Acquires 71-Unit North Edge Apartments in Phoenix

by Amy Works

PHOENIX — Goodegg Investments has purchased North Edge Apartments, a 71-unit, Class B apartment complex in Phoenix.  Terms of the transaction were not released. North Edge Apartments has undergone significant value-add renovations over the last two years, with most of its units, as well as common areas, renovated and upgraded. The asset is the 38th multifamily acquisition that Goodegg Investments has undertaken since the company’s inception in 2018.

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AcquisitionsCaliforniaDevelopmentIndustrialLee & AssociatesWestern

Silagi Development Buys 3-Acre Industrial Development Site in Riverside, California

by Amy Works

RIVERSIDE, CALIF. — Silgai Development & Management has acquired a 3-acre development parcel located at the southwest corner of Meridian Parkway and Authority Road in Riverside for an undisclosed price. Mario Calvillo of Lee & Associates Riverside represented the buyer, while Finn Comer of Lee & Associates represented the undisclosed seller in the deal. At the time of sale, the site was entitled with construction drawings for two industrial buildings totaling 45,751 square feet. The buyer plans to develop the 21,139-square-foot and the 24,612-square-foot facilities. Groundbreaking is slated to begin in the second quarter of 2025. The buildings will be available for sale or lease.

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Town-Deer-Valley-Phoenix-AZ
AcquisitionsArizonaMultifamilyWestern

Rockpoint, Related Sell Town Deer Valley Apartments in Phoenix for $131.1M

by Amy Works

PHOENIX — A venture between Rockpoint and The Related Group has completed the disposition of Town Deer Valley, a multifamily community in Phoenix, to Goodman Real Estate for $131.1 million, or $337,887 per unit. Cliff David and Steve Gebing of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. Built in 2024 on 18 acres, Town Deer Valley offers 388 apartments with stainless steel refrigerators, single-door access to patios and balconies with exterior storage, and smart home automation packages. Community amenities include a 5,900-square-foot clubhouse with an arts and crafts room, a poker room and La Galere sundry shop; a 3,800-square-foot fitness center building; and a pool area with a swimming pool and a wading pool with submerged loungers.

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AcquisitionsDevelopmentRetailWashingtonWestern

SimonCRE Acquires 89,002 SF Retail Center in Washington, Plans Redevelopment 

by Amy Works

SPANAWAY, WASH. — SimonCRE has acquired an 89,002-square-foot retail center located in Spanaway, with plans to redevelop the property. Plans for the center include the addition of a grocery anchor, as well as other new tenants. According to SimonCRE, redevelopment efforts at the property will be focused on updating existing structures. 

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Quick-Quack-Car-Wash-Grand-Terrace-CA
AcquisitionsCaliforniaRetailWestern

Hanley Investment Group Negotiates Sales of Two Car Wash Properties in California Totaling $5.4M

by Amy Works

GRAND TERRACE AND LODI, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sales of two newly constructed, single-tenant properties for a total of $5.4 million in California. Quick Quack Car Wash occupies each property on a 20-year, triple-net lease basis. The Quick Quack Car Wash located in Grand Terrace sold for $2.7 million. Bill Asher and Jeff Lefko of Hanley represented the seller and developer, 5th Street Development, in the transaction. Patrick Toomey of IPA represented the buyer, a Pasadena-based private investor. The car wash is an outparcel to a Stater Bros. Market-anchored shopping center. Other tenants at the center include AutoZone, Miguel’s Jr., and McDonald’s. The Quick Quack Car Wash located in Lodi also sold for roughly $2.7 million. A private partnership between MEE Capital Investments and Adval Properties Inc. was the developer. Asher and Lefko represented the undisclosed seller in the transaction. John Kourafas of Visintainer Group represented the buyer, a central California-based private investor. The property is an outparcel to a Raley’s grocery-anchored shopping center. Additional tenants at the center include Vista Oaks Charter School, Great Clips, Batteries Plus, Huntington Learning Center and Speedway. Hanley has completed the sale of $406 million in car …

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38960-Trade-Center-Dr-Palmdale-CA
AcquisitionsCaliforniaIndustrialWestern

NAI Capital Arranges Sale of 22,448 SF Industrial Property in Palmdale, California

by Amy Works

PALMDALE, CALIF. — NAI Capital Commercial has negotiated the sale of an industrial property located at 38960 Trade Center Drive in Palmdale. A private trust acquired the asset from 38960 Trade Center Drive LLC for $4.4 million. Bimbo Bakeries USA fully occupies the 22,448-square-foot facility, which was built in 2004. The tenant produces some of America’s most widely recognized baked goods, including Sara Lee, Thomas’ English Muffins, Oroweat, Entenmann’s, Boboli, Ball Park and Nature’s Harvest. Chris Jackson and Todd Lorder of NAI Capital Commercial represented the seller, while Lucy Hartford of NAI Capital Commercial represented the buyer in the transaction.

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AcquisitionsColoradoIndustrialSelf-StorageWestern

Kaufman Hagan Brokers Sale of 123-Unit Self-Storage Facility in Bailey, Colorado

by Amy Works

BAILEY, COLO. — Kaufman Hagan Commercial Real Estate has arranged the sale of a self-storage facility, located at 63716 US Highway 285 in Bailey. The asset traded for $1.3 million, or $80.02 per square foot. Situated on 2 acres, the property offers 123 self-storage units. Ryan Floyd of Kaufman Hagan handled the transaction. The names of the seller and buyer were not released.

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1655-1725-Third-St-San-Francisco-CA
CaliforniaLoansOfficeTop StoriesWestern

CBRE Arranges $500M in Refinancing for Uber Headquarters in San Francisco

by Amy Works

SAN FRANCISCO — CBRE has arranged $500 million for the refinancing of 1655 and 1725 Third Street in San Francisco’s Mission Bay area. Uber Technologies Inc. (NYSE: UBER) occupies the office property, which serves as the ridesharing company’s global headquarters. The asset comprises two 11-story, Class A office buildings totaling 586,208 square feet. The borrower is a joint venture between affiliates of Alexandria Real Estate Equities Inc., Uber and the Golden State Warriors, an NBA team that plays at the adjacent Chase Center. The joint venture refinanced the office development with a five-year, fixed-rate CMBS single-asset, single-borrower (SASB) loan. Brad Zampa and Mike Walker of CBRE secured the nonrecourse loan through Goldman Sachs and Barclays, both headquartered in New York. Both buildings are LEED Gold-certified and include a full-service, two-story café, barista-managed coffee bar, smoothie bar, event lounge and landscaped rooftop decks. Additionally, the properties are adjacent a to large fitness center, ground-floor restaurants and ample parking, and are part of Thrive City, a community gathering space. In the fourth quarter of 2024, the overall vacancy rate for San Francisco’s office market decreased by 40 basis points to 36.5 percent, according to CBRE. Net absorption turned positive for the first …

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AcquisitionsColoradoOfficeWestern

Equity Commonwealth Agrees to Sell 709,402 SF Office Property in Denver for $132.5M

by Amy Works

DENVER — Equity Commonwealth (NYSE: EQC) is under contract to sell 1225 Seventeenth Street, an office property in Denver, for a gross sales price of $132.5 million. The 709,402-square-foot property is Equity Commonwealth’s last remaining property. The net purchase price is expected to be approximately $124.4 million after credits primarily for contractual lease costs. The undisclosed buyer has completed due diligence, and the earnest money deposit is non-refundable. The sale is scheduled to close later this month. The transaction is subject to customary closing conditions, and there is no assurance that the transaction will close.

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