Western

NorthMarq Arranges $93M Refinancing for Office Park in Chandler

by Nellie Day February 10, 2016

CHANDLER, ARIZ. — NorthMarq Capital has arranged a $93 million refinancing for a 523,673-square-foot office park in Chandler. The Class A park is located at the intersection of highways 101 and 202. The property contains six office buildings within a master-planned business park that also features office, hospitality and restaurant properties. The office park is fully leased to tenants like Healthways, Infineon Technologies and Infusion Software. The loan features a 10-year term with three years interest-only payments, followed by a 30-year amortization schedule. Eric Flyckt of NorthMarq Capital’s San Diego office arranged the financing through the firm’s relationship with Citi Group. Douglas Allred Company owns the property.

February 10, 2016

California Office Western

Newark Arranges $65M in Financing for California Highway Patrol Office Complex in Sacramento

by Nellie Day February 10, 2016

SACRAMENTO, CALIF. — Newmark Realty Capital has arranged $65 million in permanent financing for a 284,000-square-foot office complex in Sacramento that serves as the headquarters for the California Highway Patrol. The facility is situated within the River District Redevelopment Area. The recently renovated property is leased to the State of California. George Mitsanas, Fritz Grim and Armen Hadjimanoukian of Newmark Realty Capital arranged the non-recourse, fixed-rate, term loan. It was placed with one of the firm’s correspondent life insurance company lenders.

February 10, 2016

Multifamily Washington Western

Meadows at Cascade Park Apartments in Vancouver Sells for $35.2M

by Nellie Day February 10, 2016

VANCOUVER, WASH. — The 198-unit Meadows at Cascade Park Apartments in Vancouver has sold to a California-based firm for $35.2 million. The community is located at 13314 SE 19th St. The sale represented a price per unit of $164,141, or $163 per square foot. This is one of the three highest sales per square foot that Vancouver has experienced in the past 12 months, according to HFO Investment Real Estate, which represented the seller. A Canadian investment firm with numerous Portland/Vancouver-area holdings sold the asset. The value-add acquisition allowed the buyer to enter the Washington market.

February 10, 2016

Industrial Nevada Western

LogistiCenter at Cheyenne in Las Vegas Achieves Full Capacity

by Nellie Day February 10, 2016

LAS VEGAS — LogistiCenter at Cheyenne, a 381,804-square-foot distribution facility in North Las Vegas, has achieved full occupancy. The facility is located at 4025 E. Cheyenne Ave. Priority Wire & Cable leased the remaining 223,000 square feet. The supplier of wire and cable for wholesale distributors will use the space for distribution. Priority will relocate from a 180,000-square-foot distribution center in Las Vegas to the new facility this May. A joint venture between Dermody Properties and Hillwood Investment Properties developed LogistiCenter at Cheyenne. Susan Borst and Dan Doherty of Colliers International represented the JV in the lease transaction.

February 10, 2016

California Office Western

Cypress Office Properties Acquires Willow Creek Corporate Center in San Diego for $19.7M

by Nellie Day February 9, 2016

SAN DIEGO — Cypress Office Properties has purchased the 114,355-square-foot Willow Creek Corporate Center in the San Diego submarket of Scripps Ranch for $19.7 million. The center is located at 10089 Willow Creek Road. Willow Creek is situated within the master-planned Scripps Ranch Business Park. It sits just east of Interstate 15, near State Routes 52, 56 and 163. The property is minutes from more than 1 million square feet of retail amenities and abundant housing options. JLL’s Bob Prendergast and Lynn LaChapelle represented the seller, LBA Realty, in this transaction.

February 9, 2016

California Office Western

Stockdale Capital Partners Buys Medical Office Building in Los Angeles

by Nellie Day February 9, 2016

LOS ANGELES — Stockdale Capital Partners has acquired a 140,054-square-foot medical office building in Los Angeles for an undisclosed sum. The building is located at 2100 W. 3rd St. The space was built in two phases between 1991 and 2007. It includes medical office, laboratory and general office space. Notable tenants at the property include UCLA, Children’s Hospital Los Angeles, ViraCor-IBT Laboratories and the House Ear Clinic. Bob Safai, Matt Case and Brad Schlaak of Madison Partners represented the seller, a joint venture between Watt Investment Partners and Rockpoint Group, in this transaction.

February 9, 2016

Arizona Retail Western

Colliers International Arranges $9.7M Sale of Mountain Park Plaza in Phoenix

by Nellie Day February 9, 2016

PHOENIX — Colliers International has arranged the $9.7 million sale of Mountain Park Plaza, an 87,672-square-foot shopping center located in Phoenix. Mindy Korth and Kirk Kuller of Colliers represented the seller, Issaquah, Wash.-based Western America Commercial, in the transaction. The buyer was Fairfield, N.J.-based Lamar Cos. Tenants at the 95-percent-occupied center include anchor Fry’s Food and Drug, Nationwide Vision and Sally Beauty Supply. Three pads occupied by a Fry’s Food Stores fueling station, Taco Bell and Kidz Connextion Dental Center were not included in the sale.

February 9, 2016

Industrial Nevada Western

Frito Lay Expands Distribution Center in Las Vegas

by Nellie Day February 9, 2016

LAS VEGAS — Frito Lay is expanding its distribution center in Las Vegas. The center is located at 1209 Trade Drive in North Las Vegas. The company will expand the facility by about 30,000 square feet. The project will take place directly adjacent to an active warehouse. Construction is scheduled for completion this May. William E Franz designed the project. Burke Construction Group will manage the construction, which Burke Construction Group will perform. Con-Real owns the facility.

February 9, 2016

Colorado Multifamily Seniors Housing Western

Erickson Completes Second-Phase Expansion of CCRC in Colorado

by Nellie Day February 9, 2016

HIGHLANDS RANCH, COLO. — Erickson Senior Living has completed the Phase II expansion of Wind Crest, a continuing care retirement community (CCRC) in the Denver suburb of Highlands Ranch. Texas-based design firm studioSIX5 started the project with Erickson in 2012, adding a second neighborhood and spreading out amenities rather than concentrating them in a central community area. Erickson is a Baltimore-based owner/operator of CCRCs. The company manages eight communities totaling 5,787 units, according to June numbers from the American Seniors Housing Association.

February 9, 2016

California Multifamily Seniors Housing Western

Episcopal Communities Opens 206-Unit CCRC in Los Angeles

by Nellie Day February 8, 2016

ALTADENA, CALIF. — Episcopal Communities & Services (ECS) has opened the doors on MonteCedro, a 206-unit continuing care retirement community (CCRC) in the Los Angeles suburb of Altadena. Development costs were not disclosed. Perkins Eastman provided design and planning services for the eight-acre community, comprising 186 independent living apartments, 20 assisted living and memory support residences, and coordinated in-home care. The community is the first of its kind to be built in Los Angeles County in over 20 years, according to Perkins Eastman. ECS, a nonprofit operator based in nearby Pasadena, operates two other CCRCs in Southern California — The Canterbury in Rancho Palos Verdes and The Covington in Aliso Viejo. Perkins Eastman is a global design firm. The company is based in New York City, but has 15 offices around the world.

February 8, 2016

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