Western

Voit Brokers $23.4M Sale of 89,873 SF Industrial Building in La Mirada, California

by Amy Works November 6, 2025

LA MIRADA, CALIF. — Voit Real Estate Services has arranged the purchase of a freestanding industrial building located at 14821 Artesia Blvd. in La Mirada. An Orange County, Calif.-based full-service printing service and fulfillment company acquired the asset from The Realty Associates Fund XII Portfolio for $23.4 million. The buyer will use the 89,873-square-foot property to expand its operations and to accommodate its acquisition of several other companies, according to the Voit team. Eric Smith, Selden McKnight and Stan Kwak of Voit represented the buyer in the deal.

November 6, 2025

Acquisitions Retail Utah Western

Bershon Realty Co. Sells Two Multi-Tenant Retail Properties in Provo, Utah

by Amy Works November 6, 2025

PROVO, UTAH — Bershon Realty Co. LP has sold Bulldog Plaza, a 13,620-square-foot retail center located near Brigham Young University (BYU) in Provo. Anchored by CVS Pharmacy, Bulldog Plaza comprises two retail pad buildings, which are both fully leased. The five-tenant, 10,025-square-foot pad building includes Noodles & Co., Firehouse Subs, Coco Tea, Teriyaki Bowl and The Taco Spot. Meanwhile, the three-tenant, 3,595-square-foot building is occupied by Papa John’s, The Paleta Bar and Crazy D’s Hot Chicken. Bill Asher, Jeremy McChesney, Jeff Lefko and Ed Hanley of Hanley Investment Group Real Estate Advisors represented the seller, Los Angeles-based Bershon Realty Co. LP, in the off-market transaction. Brendan Lee of Newmark Mountain West represented the buyer, a private 1031 exchange investor from the Salt Lake City metro area. The sales price was not disclosed.

November 6, 2025

California Company News Retail Western

Philip Voorhees to Join BISON Partners After 25-Year Career at CBRE

by Amy Works November 6, 2025

IRVINE, CALIF. — Philip Voorhees will join BISON Partners, a real estate operating company focused on retail properties, following his departure from CBRE at the end of the year after a 25-year tenure. Voorhees currently serves as vice chairman in CBRE’s Retail Capital Markets division, where his retail investment teams have completed more than 1,080 transactions totaling over $15 billion in value. Launched in 2022 by Brad Rable and Wil Smith, BISON Partners was established as a strategic venture to acquire and reposition retail shopping centers. The firm recently expanded its footprint with properties in California, Arizona and Nevada. Voorhees’ expertise in acquisitions and capital markets will support BISON’s continued mission to grow a portfolio of value-add retail properties across the western United States.

November 6, 2025

Acquisitions Nevada Office Western

LaPour, G2 Capital Sell Narrative Office Building in Las Vegas for $48M

by Amy Works November 5, 2025

LAS VEGAS — LaPour and G2 Capital Development, as owners and developers, have completed the disposition of Narrative, an office building located along the 215 Beltway in Las Vegas. A private family investment office acquired the asset for $48 million, or $480 per square foot, in an off-market transaction. Colliers and Agilysys are anchor tenants at the 100,000-square-foot building, which was 95 percent leased at the time of sale.

November 5, 2025

Arizona Development Multifamily Seniors Housing Western

LCS Development Underway on Third Phase of Renovations at 50-Acre CCRC in Tempe, Arizona

by Amy Works November 5, 2025

TEMPE, ARIZ. — LCS Development is underway on the third phase of a master-planned renovation at Friendship Village Tempe, a 50-acre continuing care retirement community located in Tempe. Construction has begun on the phase, which will include the removal of an existing structure and the addition of a new, five-story building. Upon completion, which is planned for the fourth quarter of 2027, the building will total 175,900 square feet with 69 independent living apartments, two guest suites and below-grade parking. Units in the building will range in size from 909 to 2,396 square feet. Amenities will include a Del Fuego restaurant and lounge, duckpin bowling lanes, a spa and clinic space, clubrooms and a group exercise area. The building will also offer access to amenities located within other parts of the campus, which include rooftop pickleball courts and Starfire, a full-service rooftop restaurant and microbrewery. Friendship Village Tempe was originally built in 1980, with the revitalization project beginning in 2019. Ryan Cos. US Inc. is serving as the general contractor for all phases of the renovation. Ryan A+E, the design studio of Ryan Cos., has served as the architect for all three phases. Six total phases of renovation are planned at …

November 5, 2025

Acquisitions California Multifamily Western

Marcus & Millichap Brokers Sale of 160-Unit Atrium Garden Multifamily Property in San Jose

by Amy Works November 5, 2025

SAN JOSE, CALIF. — Marcus & Millichap has arranged the sale of Atrium Garden, an apartment property in San Jose. The property traded for $18.5 million, or $115,531 per unit. The names of the seller and buyer were not released. Mitchell Zurich, Kirk Trammell and Joshua Johnson of Marcus & Millichap represented the seller and procured the buyer in the deal. Constructed in 2000, the four-story Atrium Garden features 159 studios and a one-bedroom manager’s apartment. Studios are furnished with a bed, bedside table and lamp, lounge chair, built-in desk and chair, TV, microwave, mini-fridge and a stove or hotplate. Community amenities include a leasing office, fitness center, media rooms, resident lounges, community kitchens, laundry facilities and an outdoor barbecue and lounge area.

November 5, 2025

Acquisitions California Lee & Associates Office Western

Lee & Associates Negotiates Sale of 62,241 SF Office Building in Los Angeles

by Amy Works November 5, 2025

LOS ANGELES — Lee & Associates LA North/Ventura has arranged the acquisition of a three-story office building located at 5550 Topanga Canyon Blvd. in the Warner Center/Woodland Hills submarket of Los Angeles. S&G Properties Management LLC acquired the property from an undisclosed seller for $10.1 million. S&G Property Management plans to occupy a portion of the 62,241-square-foot building for its company, Citiguard, a security guard company in California. Additionally, the new owner will invest capital into the building to renovate the interior and exterior, as well as create onsite amenities to attract tenants. Darren Casamassima, Scott Romick and Jay Rubin of Lee & Associates LA North/Ventura represented the buyer. The team will also oversee leasing of the property moving forward.

November 5, 2025

Acquisitions California Multifamily Western

Newmark Arranges Sale of 126-Unit Rivergate Apartments in Sacramento

by Amy Works November 5, 2025

SACRAMENTO, CALIF. — Newmark has arranged the sale of Rivergate Apartments, a 126-unit property at 900 Simon Terrace in West Sacramento. Will Blucher and Wills Vlasek of Newmark represented the seller, McCarty Sacramento Property LLC, in the disposition to a private buyer, IMG II, LLC. The acquisition price was not released. Rivergate is approximately three miles from Sacramento’s central business district and offers 72 one- and 54 two-bedroom floor plans across 10 two-story buildings on a 3.6-acre parcel. Amenities include a gated pool, standalone leasing office, common area laundry facilities and interior courtyards.

November 5, 2025

Heartland Feature Archive Market Reports Nevada Restaurant Retail Western Western Market Reports

Northern Nevada Retail Market Gains Momentum Heading Into 2026

by John Nelson November 5, 2025

— By Sam Meredith of Colliers — After a slow and uncertain start to 2025, the retail market in Reno and Sparks is finally finding its stride. The first half of the year saw many tenants hit pause on leasing decisions as economic jitters made retailers cautious. By the third quarter, however, the mood had shifted. Leasing activity picked up noticeably, and tenants are now back in the market, actively looking for space. That momentum is expected to carry through the fourth quarter and into 2026, with healthy absorption on the horizon. This turnaround is backed by solid market indicators. Net absorption turned positive in the second quarter, while asking rents rose quarter over quarter. Vacancies nudged upward due to big-box closures, including three Big Lots and a Joann store early in the year, but the overall retail vacancy still sits at a manageable 5.4 percent. In fact, several submarkets, including North Valleys, Northwest Reno, South Reno and Southwest Reno, are reporting vacancy rates below 2 percent, showing strong demand in key areas. Retailers are clearly taking notice. Trader Joe’s, which once considered Northern Nevada a one-store market, has now opened two additional locations in Spanish Springs and South Reno. …

November 5, 2025

Arizona Development Industrial Loans Western

ViaWest Group, Barings Receive $107M in Construction Financing for Industrial Project in Phoenix

by Amy Works November 4, 2025

PHOENIX — ViaWest Group and Barings have received $107 million in construction financing for ReDiscover Logistics Park, an industrial development located at 2402 W. Beardsley Road in Phoenix. Kevin MacKenzie, Jason Carlos and Lilley Kroll of JLL Capital Markets arranged the loan through a life insurance company. Situated on 43.5 acres, ReDiscover Logistics Park will offer 808,448 square feet of industrial space spread across four individual buildings ranging from 189,280 square feet to 212,000 square feet with clear heights of 32 to 36 feet, designed to accommodate a diverse range of manufacturing and distribution tenants. The development will incorporate flexible space configurations, a 200-foot shared truck court depth, FM Global compliant sprinkler systems and 980 parking spaces. Construction is underway, with completion slated for first-quarter 2027.

November 4, 2025

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