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AcquisitionsCaliforniaOfficeWestern

Uncommon Developers Acquires Office Tower in Downtown Los Angeles for $210M

by Amy Works

LOS ANGELES — Uncommon Developers has acquired 601 S. Figueroa Street, an office tower in downtown Los Angeles, for $210 million, or $201 per square foot. Built in 1990, the 52-story, 1 million-square-foot property features dual open-air lobbies, a tenant lounge, fitness center, 50 electric vehicle stalls and executive valet. Sean Fulp, Mark Schuessler and Jordan Garcia of Colliers represented the buyer, while Newmark’s Kevin Shannon, Ken White, Rob Hannan, Laura Stumm and Michael Moll represented the undisclosed seller in the deal. Uncommon Developers has tapped Colliers to handle leasing and property management of the asset. Matthew Heyn and Ian Gilbert of Colliers will lead leasing efforts, while Kevin Rude and Tina Minook of Colliers will lead full-service property management for the building.

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The-Cliff-Henderson-NV
DevelopmentNevadaRetailWestern

City of Henderson Approves Development Plans for $50M Retail Project in Metro Las Vegas

by Amy Works

HENDERSON, NEV. — The City of Henderson has approved development plans for The Cliff, a $50 million open-air retail and dining destination located in Henderson, roughly 15 miles outside Las Vegas. A 100,000-square-foot office complex on the property will be redeveloped into a pedestrian-friendly, retail-oriented environment that will feature landscaped courtyards, breezeways, public art, live music and a kiosk village named “The Yard.” Serving as the gateway to the Green Valley Ranch master-planned community, The Cliff will be Henderson’s first retail development in more than 20 years. Construction is expected to begin in October, with a grand opening scheduled for fall 2026. A partnership between San Diego-based CAST and Los Angeles-based Partners Capital will be leading the project. Dubbed as Southern Nevada’s first “anti-mall,” the project aims to replace the traditional strip mall and big-box retail model with a walkable, community-centric gathering place.

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ArizonaLoansMultifamilyWestern

BWE Secures $31.2M Loan for Refinancing of Cabana Bullard Multifamily Property in Goodyear, Arizona

by Amy Works

GOODYEAR, ARIZ. — BWE, on behalf of Scottsdale, Ariz.-based Greenlight Communities, has arranged $31.2 million to refinance Cabana Bullard, an apartment community in Goodyear. Located at North Bullard Avenue and West Van Buren Street, Cabana Bullard offers studio, one- and two-bedroom apartments. Located at 14780 W. Van Buren St., Cabana Bullard was built in 2023. Charlie Williams and Matt Terpstra of BWE originated the three-year, full-term interest-only loan with a competitive rate and flexible terms. A national life company lender provided the financing.

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3350-3360-Coffey-Lane-Santa-Rosa-CA
AcquisitionsCaliforniaIndustrialWestern

MKD Investments Buys Pine Creek Business Park in Santa Rosa, California for $23.5M

by Amy Works

SANTA ROSA, CALIF. — MKD Investments has purchased Pine Creek Business Park, an industrial flex business park in Santa Rosa, from Pine Creek Properties for $23.5 million. Located at 3350-3360 Coffey Lane, the park features six freestanding buildings on separate parcels offering a total of 152,925 square feet. The multi-tenant buildings range in size from 20,000 square feet to 31,000 square feet. The flex buildings are leased to several tenants representing a variety of of industries. Additionally, many of the buildings are equipped with floor drains and wine making infrastructure, docks and insulation. Trevor Buck of Cushman & Wakefield represented the buyer and seller in the off-market transaction.

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Circle-K-Coachella-CA
AcquisitionsCaliforniaRetailWestern

Hanley Investment Group Arranges $3.5M Sale of Retail Property in Coachella Valley

by Amy Works

COACHELLA, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of a newly constructed, 4,625-square-foot single-tenant retail property located in Coachella. A Circle K convenience store and gas station occupies the site on a 15-year, absolute triple-net-lease with 10 percent rental increases every five years. Bill Asher and Jeff Lefko of Hanley represented the seller and developer, Newport Beach, Calif.-based Fountainhead Development, in the transaction. Aaron Bove of Marcus & Millichap’s San Diego office represented the 1031 exchange buyer, a San Diego-based private investor.

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290-E-Roosevelt-St-Phoenix-AZ
AcquisitionsArizonaMultifamilyWestern

CBRE Arranges $90M Sale of Three-Property Multifamily Portfolio in Downtown Phoenix

by Amy Works

PHOENIX — CBRE has negotiated the sale of a three-property multifamily portfolio in downtown Phoenix. Regent Properties acquired the portfolio from Baron Properties for $90 million. The portfolio includes the 104-unit Linear at 295 E. Roosevelt St., the 111-unit iLuminate at 290 E. Roosevelt St. and the 108-unit The McKinley at 280 W. McKinley St. The communities feature high-quality podium construction, air-conditioned interior corridors, multiple elevators, resort-style swimming pools, rooftop patios and contemporary urban design aesthetics. Totaling 323 units, the three properties are located within one-half mile of each other in the Roosevelt Row neighborhood. Baron Properties built the assets between 2016 and 2020. Asher Gunter, Matt Pesch, Austin Groen and Sean Cunningham of CBRE represented the seller in the deal. Jesse Weber and Andrew Behrens of CBRE Debt & Structured Finance arranged financing on behalf of the buyer. The transaction marks Regent Properties’ first Phoenix-area multifamily acquisition.

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Ackerly-Sherwood-OR
AcquisitionsLoansMultifamilyOregonSeniors HousingWestern

BMO Healthcare Provides $41M Acquisition Loan for Seniors Housing Community Near Portland

by Amy Works

SHERWOOD, ORE. — BMO Healthcare’s Real Estate Finance group has provided a $41 million loan for the acquisition of The Ackerly at Sherwood, a senior living community located in Sherwood, roughly 15 miles southwest of Portland. A joint venture between an institutional investor and Merrill Gardens is the borrower. Merrill Gardens will manage and operate the property. The Ackerly at Sherwood totals 130 units with independent living, assisted living and memory care residences. Based in Seattle, Merrill Gardens manages more than 60 seniors housing communities across 20 states. 

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2401-E-Wardlow-Rd-Long-Beach-CA
CaliforniaDevelopmentIndustrialWestern

Goodman North America Completes 504,810 SF Industrial Facility in Long Beach, California

by Amy Works

LONG BEACH, CALIF. — Goodman North America has completed Building One at Goodman Commerce Center Long Beach, a 24-acre logistics project in Long Beach. Building One is located at 2401 E. Wardlow Road. The 504,810-square-foot Building One features 40-foot internal height clearance to maximize vertical storage capacity, 240-foot truck court depth, 61 dock doors, two grade-level doors, a secured yard and a 4,000 amp main switchboard. The building also offers flexible potential office space design and a 10,000-square-foot mezzanine with an optional 11 acres of adjacent land available for ancillary uses.

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Rush-Funplex-Laveen-AZ
ArizonaDevelopmentLeasing ActivityRetailWestern

Diversified Partners to Develop 75,000 SF Entertainment Space at Mixed-Use Project in Phoenix

by Amy Works

PHOENIX — Scottsdale-based Diversified Partners has signed The Rush Funplex, a 75,000-square-foot indoor family entertainment center, to anchor its new 14-acre mixed-use development located in the Phoenix neighborhood of Laveen. Construction is expected to begin by early 2026, with a grand opening scheduled for December 2026. Developed by Diversified Partners and designed by RKAA Architects, the facility will feature go-karts, bowling, a rock-climbing wall with a foam pit, laser tag, mini-golf, arcade, bumper cars, kiddie cars, private party rooms and a café. Additional tenants that will join The Rush Funplex at the property include QuikTrip, Bubble Bath Car Wash, Express Oil Change & Tire Engineers, Hippo Veterinary Hospital and a national burger chain. This location marks The Rush Funplex’s second location in Arizona. The company’s first Arizona location will open in Goodyear as part of another Diversified Partners development. 

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9605-Airway-Rd-San-Diego-CA
AcquisitionsCaliforniaIndustrialWestern

Bendetti Acquires 72,158 SF Industrial Building in San Diego’s Otay Mesa Submarket

by Amy Works

SAN DIEGO — Irvine, Calif.-based Bendetti has purchased an industrial building located at 9605 Airway Road in San Diego’s Otay Mesa submarket. Terms of the transaction were not released. Built in 2000 on 3.9 acres, the multi-tenant distribution building features 72,158 square feet of space. At the time of sale, the property was 50 percent leased to a diversified tenant mix. The property recently underwent an exterior renovation with new paint and landscaping and features functional divisibilities with multiple bay sizes, new interior office improvements, 24- to 26-foot clear heights, ample grade- and dock-high loading and concrete truck courts. Bryce Aberg, Louay Alsadek, Maddie Mawby, Charlie Jacobs and Ryan Demarest of Cushman & Wakefield represented the seller in the transaction. Regan Tully, Erik Parker, Brant Aberg and Trent Smith of Cushman & Wakefield also provided local market advisory services.

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