Western

Barclay Group Buys Kiley Ranch Marketplace in Nevada for $25.6M, Plans 400,000 SF Retail Power Center

by Amy Works April 11, 2025

SPARKS, NEV. — Barclay Group has purchased Kiley Ranch Marketplace, a 46.7-acre parcel at the southwest corner of Wingfield Hills Road and Pyramid Highway in Sparks for $25.6 million. The buyer plans to develop a 400,000-square-foot retail power center on the site. The development will be the first new retail power center in Sparks since 2005. Shawn Smith and Sean Retzloff of Kidder Mathews represented the buyer and seller, KM2 Development, in the transaction. Additionally, the team will handle leasing for the project.

April 11, 2025

Acquisitions Colorado Multifamily Western

Inland Real Estate Divests of 252-Unit Solaire Apartments in Brighton, Colorado

by Amy Works April 11, 2025

BRIGHTON, COLO. — Inland Real Estate Investment Corp. has completed the sale of Solaire Apartments, a multifamily community located at 1287 S. 8th Ave. in Brighton. Terms of the transaction were not released. Constructed in 2013, Solaire Apartments offers 252 residences spread across 11 three-story buildings. The community features a clubhouse, 24-hour fitness center, pool with hot tub and lounge area, outdoor barbecue grilling stations, a fire pit, dog park and playground area. At the time of sale, the property was 96.4 percent occupied. Inland Private Capital Corp. originally acquired Solaire Apartments in November 2016 on behalf of Brighton Multifamily DST. The recent sale resulted in a realized net equity multiple to investors of 1.6x.

April 11, 2025

Acquisitions Colorado Industrial Retail Western

Malman Real Estate Brokers Sale of 5,200 SF Flex Property in Leadville, Colorado

by Amy Works April 11, 2025

LEADVILLE, COLO. — Malman Real Estate has arranged the purchase of a 5,200-square-foot flex retail and industrial building located at 331 Highway 24 in Leadville. 331HIGHWAY24 LLC, a Wyoming limited liability company, acquired the asset from NAK Property 4 LLC, a Colorado limited liability company, for $1 million. Taylor Roy of Malman Real Estate represented the buyer, while Kory Pryor of 23 Realty Advisors represented the seller in the deal.

April 11, 2025

California Loans Multifamily Western

G.H. Palmer Associates Receives $168M Refinancing for Park Sierra Apartments in Santa Clarita, California

by Amy Works April 10, 2025

SANTA CLARITA, CALIF. — G.H. Palmer Associates has received a $168 million loan to refinance Park Sierra, a 776-unit apartment building in Santa Clarita, approximately 35 miles northwest of Los Angeles. Walker & Dunlop’s California multifamily finance team, led by Trevor Fase, arranged the financing through Freddie Mac. Originally developed by G.H. Palmer Associates in 1987, the garden-style community offers a mix of 97 one-bedroom and 679 two-bedroom apartments. About 40 percent of the units have been rehabilitated, with additional capital investment planned. Amenities include five pools and spas, a fitness center, picnic and play areas.

April 10, 2025

Acquisitions Arizona Industrial Western

ViaWest Divests of 357,103 SF Sight Logistics Park in Tempe, Arizona

by Amy Works April 10, 2025

TEMPE, ARIZ. — ViaWest Group has sold Sight Logistics Park, a two-building industrial property in Tempe. Terms of the transaction were not released. Completed in 2023, Sight Logistics Park consists of the 155,916-square-foot Building 1 at 6840 S. Harl Ave. and the 201,187-square-foot Building 2 at 6860 S. Harl Ave. The buildings feature 32-foot clear heights, 100 percent HVAC coverage, 66 dock-high doors, a 200-foot truck court, 10 grade-level doors and 8,400 amps of power. At the time of sale, the park was 88 percent occupied by a variety of tenants, including nVent, Daikin, Rentex and Supply Chain Solutions. Ben Geelan, Greer Oliver and Connor Nebeker-Hay of JLL Capital Markets Investment Sales handled the transaction. Rob Martensen, Phil Breidenbach and Sam Jones of Colliers handled local leasing efforts for the property.

April 10, 2025

Acquisitions California Hospitality Restaurant Retail Western

Curtis Holdings Sells Tallman Hotel, Blue Wing Saloon in Lake County, California

by Amy Works April 10, 2025

UPPER LAKE, CALIF. — Curtis Holdings has completed the disposition of Tallman Hotel and Blue Wing Saloon, located at 9550 Main St. and 9520 Main St., respectively, in Upper Lake. Amar and Rajvi Alapati acquired the assets for an undisclosed price. The buyers will add the properties to its Serenity Hotels Collection. Alex Lee-Bull and Lauren Liebes of CBRE represented the seller. The Tallman Hotel offers 17 rooms across nine buildings. Originally built in 1896, the hotel was renovated between 2002 and 2005 and reopened in 2006 with modern amenities, including an outdoor swimming pool, gardens and a meeting room. Select rooms offer outdoor showers and Japanese Ofuro soaking tubs.

April 10, 2025

Acquisitions California Industrial Western

Marcus & Millichap Brokers Sale of 13,440 SF Warehouse in Stockton, California

by Amy Works April 10, 2025

STOCKTON, CALIF. — Marcus & Milichap has arranged the $1.2 million sale of a warehouse property located at 729 S. Commerce St. in Stockton. Matt Sulaiman and Abdullah Sulaiman of Marcus & Millichap represented the undisclosed seller and procured the undisclosed buyer in the deal. Brandon Dena of Marcus & Millichap provided financing support for the transaction. Constructed in 1973, the 13,440-square-foot property features heavy power, a large yard, custom-built office space and convenient access to major freeways.

April 10, 2025

Acquisitions Arizona Build-to-Rent Single-Family Rental Western

CBRE Brokers $95.7M Sale of Bella Encanta BTR Community in Mesa, Arizona

by Amy Works April 9, 2025

MESA, ARIZ. — CBRE has negotiated the sale of Bella Encanta, a build-to-rent (BTR) community in Mesa. Bela Flor Communities sold the asset to a global institutional investor for $95.7 million. Griffen Tymins, Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen of CBRE represented the Mesa-based seller in the deal. Completed in 2023, the 212-unit property features duplex-style homes with wood-style plank flooring, nine- and 10-foot ceilings, full-size washers/dryers, granite countertops, undermount sinks, eat-in islands, stainless steel appliances, gas cooktops, Shaker-style cabinetry and subway tile backsplashes, as well as a private two-car attached garage with electric vehicle charging capabilities. Community amenities include a resident clubhouse with a fitness center with climbing wall, demonstration kitchen, billiards table, leasing office, conference room, meeting space and seating areas. Outdoor amenities include soccer fields, two pet parks with a wash station, a sand volleyball court, a basketball half-court, two pickleball courts, a children’s playground, walking paths and multiple picnic areas with barbecue grills.

April 9, 2025

California Development Healthcare Western

Archer, REDA to Redevelop 78,000 SF Office Building in Newport Beach, California into Medical Outpatient Property

by Amy Works April 9, 2025

NEWPORT BEACH, CALIF. — A joint venture between Archer Property Partners and Real Estate Development Associates (REDA) has approval from the Newport Beach Planning Commission to redevelop the 78,000-square-foot office building at 3300 Irvine Ave. in Newport Beach into Newport Irvine Medical Center. The joint venture originally acquired the asset in 2023 for $18.5 million. The three-story Newport Irvine Medical Center will feature a three-story atrium, modernized common areas and elevators and a flexible, future-proof design to adapt for changing medical technologies and patient needs. The partnership plans to break ground on the project’s new parking structure in June and begin full building renovations in September, with project completion slated for spring 2026 and tenant move-ins in summer 2026. MedWest Realty will handling leasing for Newport Irvine Medical Center.

April 9, 2025

Acquisitions California Retail Western

Capstone Advisors Sells Poway Valley Retail Property in California for $11.6M

by Amy Works April 9, 2025

POWAY, CALIF. — Capstone Advisors has completed the disposition of Poway Valley Center, a shopping center in Poway, to Badal Satasiya for $11.6 million. Located at 13314-13340 Poway Road, the property offers 24,802 square feet of retail space with 16 tenants, including Little Sprouts Daycare, Wingstop, Poway Irish Pub, Don Pollo Mexican Food and Bongiorno’s Pizzeria. Reg Kobe, Joel Wilson and Michael Peterson of CBRE represented the seller, while Jimmy Leach and Erik Ransdell of Strands Realty Group represented the buyer in the deal.

April 9, 2025

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