Western

The ConAm Group Buys PeakView Place Apartments in Denver

by Nellie Day April 8, 2015

DENVER — The ConAm Group has acquired the 296-unit PeakView Place apartments in Denver for an undisclosed sum. The community is located at 9959 E Peakview Ave. in the Englewood submarket. PeakView is situated near Denver’s largest employment center, the 850-acre Denver Technological Center (DTC). ConAm plans to carry out a $5.5-million renovation on the property. This will include construction of a new leasing office, new exterior siding, full interior upgrades, and overall enhancements to the common areas and landscaping. Common-area amenities include a pool and spa, as well as a fitness center. Units include modern floorplans, washers and dryers, central heat/air conditioning and fireplaces.

April 8, 2015

California Hospitality Western

Doubletree San Diego-Hotel Circle Changes Hands

by Nellie Day April 8, 2015

SAN DIEGO — An affiliate of Oak Coast Properties LLC has acquired the 219-room Doubletree San Diego-Hotel Circle for an undisclosed sum. The hotel is located at 1515 Hotel Circle South. The eight-story hotel includes the Panini Restaurant, meeting and event space, an outdoor pool and spa and a five-story parking garage. It was originally built in 1970. The Doubletree has undergone extensive renovations and modernization throughout the years. The buyer purchased the leasehold and land in two separate transactions that closed concurrently. The property will be managed by Portfolio Hotels & Resorts. It will continue to operate under the Doubletree by Hilton flag. The seller was two locally-based investment entities. They were represented by Bob Kaplan and Rod Apodaca of CBRE Hotels.

April 8, 2015

Colorado Multifamily Western

Arvada Apartment Community Trades for $2M

by Nellie Day April 8, 2015

ARVADA, COLO. – A 20-unit apartment complex in the Denver submarket of Arvada has sold to an unnamed buyer for $2 million. The community is located at 5379 Estes Street. It was built in 1960. The property is situated near Olde Town Arvada and the Light Rail. Jeff Johnson with the Johnson Ritter Team at Pinnacle Real Estate Advisors assisted both the buyer and seller in this transaction.

April 8, 2015

Industrial Utah Western

Haemonetics Leases Space at Price Bangerter Building in Salt Lake City

by Nellie Day April 8, 2015

SALT LAKE CITY – Haemonetics has signed a 12-year lease for 154,601 square feet of manufacturing space at the Price Bangerter building in Salt Lake City. The Class A space is located at 1555 S. Gramercy Road. This is the blood management firm’s second facility in the region. The new facility will handle its Western United States distribution requirements. Haemonetics was represented by Steve Condie of Newmark Grubb ACRES (NGA) and DTZ’s Kevin Hanna. The landlord, Price Realty Group, was represented by NGA’s Kyle Roberts.

April 8, 2015

Arizona Industrial Western

Phoenix Distribution Building Sells for $5.1M

by Nellie Day April 8, 2015

PHOENIX – A 94,885-square-foot distribution building in Phoenix has sold to Cohen Asset Management for $5.1 million. The building is located at 2021 E. Jones Ave. It is situated southwest of Phoenix Sky Harbor International Airport. Cohen was represented by Matt McDougall of Lee & Associates. The seller, Michael Lewis Company, was represented by DTZ’s Andy Cloud.

April 8, 2015

California Multifamily Western

Park Laurel Apartments in San Mateo Trades for $10.3M

by Nellie Day April 7, 2015

SAN MATEO, CALIF. – The 26-unit Park Laurel Apartments in San Mateo has sold to MNM Partners LLC for $10.3 million. The community is located at 710 Laurel Ave. It was built in 1959. The seller, the Brenner Family Partnership, was represented by Ted Kokernak of Marcus & Millichap’s Palo Alto office.

April 7, 2015

Arizona Industrial Western

Longust Distribution Center in Mesa Sells for $6.5M

by Nellie Day April 7, 2015

MESA, ARIZ. – Longust Distribution Center, an 81,436-square-foot industrial property in Mesa, has sold to Industrial Property Trust for $6.5 million. The center is located at 2432 W. Birchwood Ave. The institutional-quality warehouse/distribution building is fully occupied by Longust Distributing. Both the buyer and seller, 2432 Birchwood Associates, LLC, an affiliate of EverWest Real Estate Partners, were represented by DTZ’s Will Strong, Andy Markham and Mike Haenel.

April 7, 2015

California Industrial Western

Spike LLC Buys San Marcos Industrial Building for $5.4M

by Nellie Day April 7, 2015

SAN DIEGO – Spike LLC has purchased a 50,220-square-foot industrial building in the San Diego submarket of San Marcos for $5.4 million. The building is located at 495 Enterprise Street. The buyer plans to hold the property as a long-term investment. The seller, Thornton Technology, leased back 50 percent of the property for an undisclosed period of time. Spike was represented by Justin Beattie of Palomar Commercial. Thornton Technology was represented by Daniel Knoke, Peter Merz, Marko Dragovic and Isaac Little of Lee & Associates-North San Diego County.

April 7, 2015

Arizona Multifamily Western

Arizona Sun Apartment Building in Tempe Sells for $3.6M

by Nellie Day April 7, 2015

TEMPE, ARIZ. – The 58-unit Arizona Sun apartment community has sold to a limited liability company for $3.6 million. The community is located at 1895 & 1901 East Don Carlos Ave. Pete Te Kampe of Marcus & Millichap’s Phoenix office represented both the buyer and seller, another LLC, in this transaction.

April 7, 2015

Arizona Retail Western

The Pizza Studio Opens Second Location in Phoenix

by Nellie Day April 7, 2015

PHOENIX – The Pizza Studio has opened a 2,111-square-foot location in Phoenix. This is the restaurant’s second location in the valley and fourth in Arizona. It is located at 2375 E. Camelback Road. The landlord, Hines, was represented by DTZ’s Brent Mallonee.

April 7, 2015

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