Western

Construction Begins on 290,000 SF Toyota Dealership in Downtown Los Angeles

by Nellie Day June 17, 2016

LOS ANGELES — Shammas Group is developing a new Toyota dealership at the corner of Figueroa Street and Washington Boulevard in downtown Los Angeles. The four-story, 290,000-square-foot facility will feature a 22,600-square-foot, two-story showroom with a vehicle display, a 40-bay below-grade service department, and a wholesale and retail parts boutique. The project is slated for completion in fall 2017. Trammell Crow Co. is developing the building, PDS Architects is serving as project architect, ConAm Building Co. is serving as the contractor and Ware Malcom is overseeing interior design and tenant improvement.

June 17, 2016

California Retail Western

NAI Capital Negotiates $3.6M Sale of Red Lobster Property in Valencia

by Nellie Day June 17, 2016

VALENCIA, CALIF. — NAI Capital has arranged the $3.6 million sale of a Red Lobster property located at 27524 The Old Road in Valencia. Simonian Family 2008 Trust acquired the 9,487-square-foot property as a single-tenant, net-leased, fee-interest investment from Marquis Valley View LLC. Situated on 1.1 acres, Red Lobster has occupied the property since 1986. Yair Haimoff, Randy Cude and Steve Body of NAI Capital represented the seller in the transaction.

June 17, 2016

California Restaurant Retail Western

Habit Burger Grill, Chipotle Mexican Grill Join Peninsula Shopping Center

by Nellie Day June 17, 2016

ROLLING HILLS ESTATES, CALIF. — Two restaurants have joined Peninsula Shopping Center at 67 Peninsula Center in Rolling Hills Estates. Habit Burger Grill and Chipotle Mexican Grill both opened 2,500-square-foot restaurants across from the Pavilions. The fast-casual chain Habit Burger Grill focuses on its signature Charburgers, salads, sandwiches, shakes and french fries. Chipotle Mexican Grill specializes in Mission burritos, tacos, bowls and salads. Peninsula Shopping Center features more than 45 stores and eateries.

June 17, 2016

Arizona Multifamily Seniors Housing Western

Gardner Capital to Develop 102-Unit, $18M Affordable Seniors Housing Community in Phoenix

by Nellie Day June 16, 2016

PHOENIX — Gardner Capital Development has announced plans for El Caro Seniors Residence, an $18 million, 102-unit affordable seniors housing property in Phoenix. The Arizona Department of Housing has reserved low-income housing tax credits (LIHTC) for the project. Construction of the five-acre development, named after the former golf course located at the site, is scheduled to begin in the first quarter of 2017, with completion expected 15 months later. All units will be leased to seniors earning generally between $18,000 and $34,000 per year, with a mix of apartments set aside at 40 to 60 percent of the Metro Phoenix median income. A quarter of the units will be reserved for seniors or family members with developmental disabilities. Gardner will serve as lead developer. Reid Butler and Scott Davis will serve as additional advisors to the project. The United Cerebral Palsy Association of Central Arizona will provide supportive services for the housing community when completed. Gardner Capital is an affordable housing and renewable energy tax credit development, syndication and investment company with offices located in St. Louis, Dallas, San Francisco, Atlanta and Springfield, Mo.

June 16, 2016

Retail Washington Western

Togo’s Opens First of Several Restaurant Locations in Washington

by Nellie Day June 16, 2016

KENT, WASH. — Togo’s Eateries LLC is has opened the first of several locations planned in Washington State. The first restaurant is located at Kent Station in Kent, Wash. Togo’s Eateries was founded in 1971 by a college student, and now has more than 300 locations open and under development throughout the West.

June 16, 2016

California Retail Western

Lee & Associates Arranges $8.7M Sale of North Canyon Ranch Shopping Center in Glendale

by Nellie Day June 16, 2016

GLENDALE, ARIZ. — Lee & Associates has arranged the $8.7 million sale of North Canyon Ranch, a 70,428-square-foot, Goodwill-anchored shopping center located in Glendale. Pat Dempsey and Jan Fincham of Lee & Associates represented the seller, PLC Pinnacle Peak LLC, in the transaction. First Ave/Wetmore Office Plaza LLC acquired the property through a 1031 exchange.

June 16, 2016

Idaho Retail Western

West Elm Opens First Store in Idaho

by Nellie Day June 16, 2016

BOISE — Home furnishings retailer West Elm recently opened its first Idaho store in downtown Boise. The location is 14,158 square feet. West Elm incorporated wooden “Tater Blocks” salvaged from the renovation of Simplot’s Caldwell-based potato storage facility into the store’s custom interior design. The blocks, once used as industrial flooring for potato storage facilities, have been repurposed to create an art installation at the new store. Headquartered in Brooklyn, N.Y., West Elm opened its first store in 2003 in DUMBO, the neighborhood it still calls home. The brand operates 87 retail stores in the United States, Australia, Canada and the United Kingdom, and ships internationally. The company also operates stores in Mexico, the Middle East and Philippines through unaffiliated franchisees. West Elm is a member of the Williams-Sonoma Inc. portfolio of brands.

June 16, 2016

Multifamily Oregon Seniors Housing Western

Blueprint Arranges $1M Sale of 36-Unit Assisted Living Community in Oregon

by Nellie Day June 16, 2016

BROOKINGS, ORE. — Blueprint Healthcare Real Estate Advisors, a Chicago-based brokerage firm, has arranged the $1 million sale of Macklyn Place, a 36-unit assisted living community in Brookings, located along the Pacific Coast near the California border. A regional operator and developer purchased the property from a national owner/operator looking to divest non-core assets. Sold as a value-add opportunity, the buyer plans to add memory care services at the property. The sales price equates to $30,000 per unit. Ben Firestone, Jacob Gehl and Trent Gherardini were lead advisors on this transaction.

June 16, 2016

California Office Western

New York Life, Harvest Buy One Bay Plaza in Burlingame for $53.4M

by Nellie Day June 15, 2016

BURLINGAME, CALIF. — A joint venture between New York Life Real Estate Investors and Harvest Properties has acquired One Bay Plaza, a 196,139-square-foot office property in Burlingame, for a reported $53.4 million. The Class A plaza is located at 1350 Bayshore Highway. The nine-story building has frontage along the San Francisco Bay with unobstructed water views. It also has an on-site café, fitness center and access to waterfront jogging trails. The property is among the newest vintage buildings in the submarket. The seller was Hudson Pacific.

June 15, 2016

California Multifamily Western

Berkshire Group Purchases 438-Unit One Santa Fe Apartment Complex in Los Angeles

by Nellie Day June 15, 2016

LOS ANGELES — Berkshire Group has acquired the 438-unit One Santa Fe apartment complex in Los Angeles for an undisclosed sum. The community is located at 214 S. Santa Fe Ave. in downtown’s Arts District. One Santa Fe also contains more than 80,000 square feet of ground-floor commercial and retail space. The property spans about a quarter mile over four city blocks. It features two buildings situated around the retail paseo. Berkshire Communities, the property management division of Berkshire Group, will manage the space.

June 15, 2016

Newer Posts

Older Posts