Western

Simon to Complete Redevelopment of Stanford Shopping Center and Add 14 Tenants

by Nellie Day October 21, 2015

PALO ALTO, CALIF. — Shopping mall developer Simon Property Group is set to complete its redevelopment of Stanford Shopping Center, a mall located in Palo Alto, and add 14 new tenants to open in spring 2016. The Plaza, Simon’s reimagined public space, includes gardens, lawn space, a water feature with infinity edges and a new outdoor venue for special events. The reimagined public space, nearing completion in November, will also include suspended wooden trellis with decorative lighting and an open-air, granite-clad fireplace. New retailers set to open at the center will include Anthropologie, Allen-Edmonds Shoe, LUSH Fresh Handmade Cosmetics, Luisa Spagnoli, AllSaints, lululemon, Everything But Water, The North Face, Uno de 50, Vineyard Vines, Pink Posy, True Food Kitchen, Tender Greens, and Minamoto Kitchoan. Stanford Shopping Center expects a total of 25 new stores to open during late spring 2016.

October 21, 2015

Colorado Multifamily Seniors Housing Western

Lancaster Pollard Hires Rob McAdams to Open Office in Denver

by Nellie Day October 21, 2015

DENVER — Rob McAdams has joined Lancaster Pollard and will open a new office for the firm in Denver. McAdams will serve the lender’s clients in Colorado, Wyoming, Montana and Idaho and will oversee the structuring and funding of healthcare project financings for hospitals and senior living providers in those states. McAdams has been involved in investment sales and debt and equity structuring for the hotel and hospitality industry since 2005 and most recently served as a partner at U.S. Hotel Advisors in Denver. In that role, he oversaw all areas of hotel debt and equity financing transactions, including new business generation, negotiation of financing terms, selection of capital providers and orchestration of closing processes. He earned master’s degrees in finance, as well as real estate and construction management, from the University of Denver, Daniels College of Business. He received a bachelor’s degree in communications from the University of Colorado.

October 21, 2015

California Retail Western

Pieology to Open at Rialto Marketplace in California

by Nellie Day October 21, 2015

RIALTO, CALIF. — Pieology is set to open a location at Rialto Marketplace, a new development anchored by Walmart in Rialto. Blindside 75, a multi-unit franchisee of Pieology, has signed a 10-year lease for 2,200 square feet at the center. Greg Giacopuzzi of NewMark Merrill Cos. represented the landlord, and Matt Adamczyk of Kennedy Wilson represented the tenant in the transaction.

October 21, 2015

California Multifamily Student Housing Western

ACH Awarded Management of Property Near Cal Polytechnic

by Nellie Day October 21, 2015

SAN LUIS OBISPO, CALIF. — Asset Campus Housing has been selected as the management company of Mustang Village, a 1,006-bed student housing community. The property is located within walking distance of California Polytechnic University in San Luis Obispo. Mustang Village offers one-, two-, three- and four-bedroom units with private bedrooms and full-furnishing options. The student housing complex will undergo interior and exterior renovations to include upgraded flooring, cabinetry, counters, lighting, appliances and furniture. Upon completion of the renovations, amenities for the Mustang Village apartments will include a newly refurbished basketball court, BBQ grills, picnic area, computer lab, study room, TV lounge and pool.

October 21, 2015

California Multifamily Western

WNC Promotes Wendy Yan to Vice President of Underwriting

by Nellie Day October 21, 2015

IRVINE, CALIF. — WNC, an investor focused on affordable real estate, has promoted Wendy Yan to vice president of underwriting. Yan joined WNC in 2011 as a senior project manager of underwriting and was later promoted to a director of underwriting. Throughout her career, she has been involved in land acquisition and entitlement, due diligence review, financial underwriting/structuring and public and private financing. Yan earned a bachelor’s degree and a master’s degree from the University of California, Los Angeles.

October 21, 2015

California Office Western

Casey Brown Co. Buys San Diego Union-Tribune Property for $52M

by Nellie Day October 20, 2015

SAN DIEGO — The Casey Brown Co. has purchased the San Diego Union-Tribune property for $52 million. The asset is located at 350 Camino de la Reina in the San Diego submarket of Mission Valley. The property contains a 170,000-square-foot office building and a 190,000-square-foot industrial building that formerly served as the newspaper’s printing facility. Casey Brown plans to upgrade the existing office building into an amenity-rich, Class A corporate campus. The industrial building is currently being evaluated for alternative uses. The site was also recently entitled for 200 apartment units. The seller, Doug Manchester, was the former publisher of the Union-Tribune. CBRE will handle leasing the property.

October 20, 2015

Multifamily Nevada Western

MG Properties Group Buys Broadstone Azure Apartments in North Las Vegas

by Nellie Day October 20, 2015

LAS VEGAS — MG Properties Group (MGPG) has purchased the 312-unit Broadstone Azure apartment complex in North Las Vegas for an undisclosed sum. The community was built in 2007. Broadstone Azure features a resort-style pool, spa, lounge and fitness center. The property is located in North Las Vegas with access to the 215 and 15 freeways. MG financed the acquisition with a $22 million, 10-year mortgage from Fannie Mae that Bryan Frazier of Walker & Dunlop arranged. Doug Schuster of Newmark Grubb Knight Frank represented the unnamed seller.

October 20, 2015

Multifamily Washington Western

Lowe Enterprises, First Capital Advisors Buy Deer Creek Apartment Homes in Puyallup

by Nellie Day October 20, 2015

PUYALLUP, WASH. — A joint venture between Lowe Enterprises Investors and First Capital Advisors has purchased the 256-unit Deer Creek Apartment Homes in Puyallup for an undisclosed sum. The community is located at 6115 111th St. East. The 18-acre, garden-style property was built in 2000. It was 95 percent occupied at the time of sale. Deer Creek is situated at the base of Mt. Rainier, 10 miles outside of Tacoma and 35 miles south of Seattle. Greystar will manage the property. Jones Lang LaSalle represented the unnamed seller.

October 20, 2015

Arizona Retail Western

Cushman & Wakefield Arranges $10.5M Sale of North Mountain Plaza

by Nellie Day October 20, 2015

PHOENIX — Cushman & Wakefield has arranged the $10.5 million sale of North Mountain Plaza, a 95,000-square-foot shopping center located in Phoenix. Dan Salley and Jack Wilson of Cushman & Wakefield represented the buyer, Pivot Development LLC, and Cam Stanton of CBRE represented the seller, CT Retail Properties Finance IV LLC, in the transaction. Fry’s grocery store anchors the center, which is 82 percent occupied.

October 20, 2015

Arizona Industrial Office Western

Harsch Buys Two Office/Industrial Buildings in Tucson

by Nellie Day October 20, 2015

TUCSON, ARIZ. — Harsch Investment Properties has purchased an office and flex industrial portfolio in Tucson for an undisclosed sum. The portfolio includes two buildings that total 190,000 square feet. The acquisition consists of the 60,000-square-foot Butterfield Corporate Plaza office/R&D flex property and the Tucson Airport Center, a 130,000-square-foot project with office and industrial tenants. Both properties are situated near Tucson International Airport and Interstate 10. CBRE’s Bill DiVito and Jesse Blum acted as the leasing agents for both properties. The seller was not named.

October 20, 2015

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