Western

F&F Properties Sells North Park Creative Office Building in San Diego for $2.7M

by Amy Works May 14, 2024

SAN DIEGO — Dan Feder of F&F Properties has completed the sale of North Park Creative Office in San Diego to Mike Weston with Weston Legal PLLC for $2.7 million. Located at 4060 30th St., the 3,818-square-foot property was fully renovated in 2019. Renovations included high-end finishes, secured access, exposed beams, HVAC, eight private offices, a kitchen, conference room, game room, outdoor turf patios and a barbecue/fire pit. Nick Totah and Ross Sanchez of The Totah Group of Marcus & Millichap’s San Diego downtown office represented the seller and procured the buyer in the transaction.

May 14, 2024

Arizona Development Industrial Office Western

Baker Development Receives Zoning Approval for 72-Acre AZUL Corporate Campus in Phoenix

by Amy Works May 13, 2024

PHOENIX — Baker Development has received zoning approval for AZUL, a 72-acre project on the former ON Semiconductor site at 52nd Street and Loop 202 in Phoenix. The site is now zoned for a wide variety of commercial and industrial uses, including corporate headquarters, advanced manufacturing, logistics, hospitals, hyperscales and other quantum computing users. Demolition of the former semiconductor factory is underway and scheduled for completion by fourth-quarter 2024. AZUL plans to develop up to 2 million square feet of corporate campus space on the site.

May 13, 2024

Acquisitions Colorado Multifamily Western

Pacific Urban Investors Acquires 420-Unit Viridian Apartments in Greenwood Village, Colorado

by Amy Works May 13, 2024

GREENWOOD VILLAGE, COLO. — Palo Alto, Calif.-based Pacific Urban Investors has purchased Viridian, a multifamily property in Greenwood Village, a suburb of Denver. Terms of the acquisition were not released. The acquisition marks Pacific’s fourth investment in the Denver market with the firm’s regional portfolio now totaling 884 units. Viridian features 420 apartments with nine-foot ceilings, a resort-style pool, full-sized basketball court and parking ratio of 1.7 stalls per unit.

May 13, 2024

California Development Industrial Western

Alpine Food Distributing Plans 116,766 SF Cold Storage Facility in Vernon, California

by Amy Works May 13, 2024

VERNON, CALIF. — ARCO National Construction’s Pacific Coast division is providing design-build services for a 116,766-square-foot cold storage facility renovation project for Alpine Food Distributing. The site is located in Vernon, a first-ring suburb of Los Angeles. The project includes more than 40,000 square feet of freezer/cooler space, including nearly 10,000 square feet of convertible space capable of accommodating temperatures ranging from negative 10 degrees Fahrenheit to 40 degrees Fahrenheit. There are also 2,455 square feet of production cooler available for produce processing, as well as more than 50,000 square feet of ambient storage. Additional construction details will include a carbon-dioxide refrigeration system, 15 dock positions, 26.5-foot clear heights and nearly 10,000 square feet of office space and break rooms. Alpine Foods plans to begin operations within the facility before the end of this year.

May 13, 2024

Acquisitions Colorado Retail Western

Copper2 Divests of 30,024 SF Southgate Shopping Center in Centennial, Colorado

by Amy Works May 13, 2024

CENTENNIAL, COLO. — Copper2 LLC has completed the disposition of Southgate Shopping Center, a neighborhood retail center in Centennial, a suburb of Denver. Arapahoe RHSW LLC acquired the asset for $7.7 million. Located at 6802-6882 S. Yosemite St., the two-building Southgate Shopping Center offers 30,024 square feet of retail space. At the time of sale, the property was 83 percent leased to 13 tenants, including food and beverage, financial services, fitness and personal care services. Jon Hendrickson, Aaron Johnson and Mitch Veremeychik of Cushman & Wakefield represented the seller in the deal.

May 13, 2024

Acquisitions California Retail Western

Marcus & Millichap Arranges Sale of 12,132 SF Retail Property in Dixon, California

by Amy Works May 13, 2024

DIXON, CALIF. — Marcus & Millichap has negotiated the sale of a retail building located at 105 E. Dorset Drive in Dixon, approximately 25 miles southwest of Sacramento. A private investor sold the asset another private investor for $3.6 million. The multi-tenant property features 13,132 square feet of retail space. Michael Grandstaff and Christopher Hund of Marcus & Millichap represented the seller and procured the buyer in the deal.

May 13, 2024

Acquisitions Arizona Multifamily Western

Evergreen Devco Sells 258-Unit Multifamily Property in Tolleson, Arizona

by Amy Works May 10, 2024

TOLLESON, ARIZ. — Evergreen Devco has sold Parc Tolleson, a 258-unit multifamily property located about 15 miles west of Phoenix. The sales price was $62.7 million. Completed in 2023, the garden-style community features one-, two- and three-bedroom units with an average size of 961 square feet. Residences features nine-foot ceilings, vinyl plank flooring and full-size washers and dryers. Amenities include a pool with fireplace lounges and poolside dining areas, electric vehicle charging stations, a pet spa, 24-hour fitness center and a clubhouse with gaming tables, seating areas and a coffee bar. Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen of CBRE represented Evergreen Devco in the transaction. Troy Tegeler and Trevor Breaux, also with CBRE, arranged acquisition financing on behalf of the buyer, Millburn & Co.

May 10, 2024

Acquisitions Arizona Industrial NAI Western

NAI Horizon Brokers Sale of 198,304 SF Industrial Building in Peoria, Arizona

by Amy Works May 10, 2024

PEORIA, ARIZ. — NAI Horizon has brokered the sale of a 198,304-square-foot industrial facility located at 10857 N. 95th Ave. in Peoria, a northwestern suburb of Phoenix. An entity doing business as Glez C Properties LLC acquired the asset from Chris Finn for $9.5 million. Jeffrey Garza Walker of NAI Horizon represented the buyer in the transaction, while the seller was self-represented.

May 10, 2024

Arizona Loans Multifamily Walker & Dunlop Western

River City Bank Provides $15M Loan for Refinancing of Villa Montaña Apartments in Scottsdale

by Amy Works May 10, 2024

SCOTTSDALE, ARIZ. — River City Bank has provided a $15 million loan for the refinancing of Villa Montaña, a 208-unit apartment complex located at 11350 E. Sahuaro Drive in Scottsdale. Built in 1986, the property offers one- and two-bedroom units and amenities such as a pool, fitness center and a 24-hour laundry room. Mark Plenge and Grant Robertson of Walker & Dunlop arranged the fixed-rate loan on behalf of the borrower, The Al Angelo Co.

May 10, 2024

Colorado Development Industrial Western

Confluent Development Unveils Plans for 175,000 SF Deer Creek Commerce Center in Denver Area

by Amy Works May 10, 2024

LITTLETON, COLO. — Confluent Development has unveiled plans for Deer Creek Commerce Center (previously known as Ken Caryl Commerce Center), a 175,000-square-foot industrial project in Littleton, a southern suburb of Denver. Located at the intersection of C-470 and South Kipling Parkway, Deer Creek Commerce Center will consist of two buildings that can accommodate users with requirements of 20,000 to 175,000 square feet. Building features will include ESFR sprinklers, 28-foot clear heights and access to 250 parking spots. Murray & Stafford is serving as general contractor for the development, the groundbreaking of which is slated for later this month. CBRE is the leasing agent for the project.

May 10, 2024

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