Western

Elan-Mountain-View-Mountain-View-CA

MOUNTAIN VIEW, CALIF. — Cityview and Greystar have completed the disposition of Elan Mountain View, a mixed-use property at 1030 Castro St. in the Bay Area city of Mountain View. Terms of the transaction were not released. Developed in 2018, Elan Mountain View offers 164 apartments and 11,000 square feet of fully occupied ground-floor retail space. The community features studio, one-, two- and three-bedroom floor plans with smart thermostats, keyless entry, quartz countertops, modern cabinetry, full-tile kitchen backsplashes, wood vinyl plank flooring, stainless steel appliances and full-size washers and dryers. Select units feature street-level walk-up entrances, as well as private patios and balconies. Community amenities include a fully equipped fitness center; two-level club room with billiards table and chef’s kitchen; hammock lounge; edible garden pathway; private business center; and a courtyard with lounge seating, an outdoor kitchen, fireplaces and a fruit garden. Additionally, the property offers 164 storage units to residents and secured access parking. Current onsite retailers include Rose International Market, Mr. Sun, Le’s Alterations, Tanya’s Hair Design and Oh! Honey Macaron.

FacebookTwitterLinkedinEmail

DENVER AND COMMERCE CITY, COLO. — Flywheel Capital has acquired two industrial properties, 4970 Cook Street in Denver and 5790 Dahlia Street in Commerce City, for an undisclosed price. The acquisitions will expand Flywheel’s industrial outdoor storage (IOS) portfolio. Situated on 2.4 acres, 4970 Cook Street is a 20,000-square-foot, single-tenant, net-leased industrial property. The asset offers fenced secure storage space for businesses with large inventory needs and is currently leased to Goodyear Tire and Rubber. The property has served as Goodyear’s operational base since 1998. Located on 2.1 acres, 5790 Dahlia Street is a 7,000-square-foot industrial facility. In November 2023, TransWood Carriers, a bulk transportation company with more than 40 locations nationwide, signed a long-term lease at the property. Mike Viehmann, Mike Wafer and Mike Wafer Jr. of Newmark represented the undisclosed seller, while Flywheel Capital was self-represented in the deal.

FacebookTwitterLinkedinEmail
1000-E-La-Palma-Ave-Anaheim-CA

ANAHEIM, CALIF. — Gantry has secured a $4.3 million permanent loan to refinance Parkside La Palma Apartments, a garden-style multifamily community in Anaheim. Located at 1000 E. La Palma Ave., Parkside La Palma features 79 studio, one- and two-bedroom floor plans. Originally built in 1973, the community offers modern unit interiors, a community pool, onsite laundry, children’s playground and landscaping. George Mitsanas, Stefan Malmlund and Keegan Bridges of Gantry’s Los Angeles and Irvine offices represented the borrower, a private real estate investor. One of Gantry’s correspondent life company lenders provided the 10-year loan, which features a 20-year amortization and prepayment options. Gantry will service the loan.

FacebookTwitterLinkedinEmail

SAN DIEGO — Simon has announced plans for the development of a new mixed-use project at its Fashion Valley shopping center in San Diego. Upon completion, the redevelopment project will add 100,000 square feet of new retail space to the center, as well as new restaurants and an 850-unit, AMLI-branded apartment community. Construction is scheduled to begin in late 2025, with completion anticipated in late 2026. Fashion Valley recently underwent a multimillion-dollar capital improvement program and added brands Dior, Bottega Veneta, David Yurman and Dolce & Gabbana. New tenants Celine, Christian Louboutin and Fendi have also signed leases at the property. 

FacebookTwitterLinkedinEmail
Belle-Harbour-Web

BELLEVUE, WASH. — Koelsch Communities has neared completion of Belle Harbour, a seniors housing community in Bellevue, a suburb of Seattle. The developer expects to open the $93 million project this summer. The campus comprises The Park at Belle Harbour, an assisted living community, and The Inn at Belle Harbour, a dedicated memory care community. Encompassing nearly three acres, the boutique campus features 145 suites across both buildings, with the assisted living community containing 73 private studios, one-bedroom and two-bedroom units. The memory care building has 72 suites ranging from private to shared and “neighborhood” options. The new campus follows the recent completion of University Village, a Koelsch community in Vancouver, approximately 180 miles south in the suburbs of Portland, Oregon. The $112 million development encompasses 13 acres and features 136 suites in its independent living community, The Park at University Village, and 101 suites in its assisted living community, The Inn at University Village. Additionally, The Park has 26 cottages comprised of one-, two- and three-bedroom homes. Resident move-ins began in late 2023 and the campus is currently more than 50 percent occupied. Koelsch Construction served as general contractor for both developments, with Shearer Construction as a partner on …

FacebookTwitterLinkedinEmail
UC-Santa-Cruz-CA

SANTA CRUZ, CALIF. — A public-private partnership between The University of California (UC) Santa Cruz and Redtree Partners is set to break ground on a residence hall development. Santa Cruz is located in the Central Coast region. The community will be located on Delaware Avenue and will offer 400 beds for upper-division undergraduate students, along with units for 60 university employees. The student housing portion of the project will offer rents priced at 20 percent below market rate and the employee housing will be priced at approximately 5 percent below market rate. Seven employee units will meet the city’s affordable housing designation, and another 12 units will be available to moderate-income employees. The university will lease the units from owner and developer Redtree Partners upon completion. Construction is scheduled to begin this summer with completion planned for fall 2026.  

FacebookTwitterLinkedinEmail
1784-Holdings-Hawthorne-CA

HAWTHORNE, CALIF. — Talonvest Capital has closed a $36.8 million bridge loan for a self-storage facility in Hawthorne, in the South Bay region of metro Los Angeles. The borrower is 1784 Holdings. The nonrecourse bridge loan includes a three-year term with two extension options and full-term interest-only payments. The financing was funded by a unique lending program. Jim Davies, Britt Taylor Mason Brusseau, Tom Sherlock and Lauren Maehler of Talonvest represented the borrower.

FacebookTwitterLinkedinEmail

DENVER — John Propp Commercial Group has arranged the sale of a single-tenant industrial building, located at 4695 N. Ironton St. in Denver. LVPA 4695 N Ironton Street OS Owner LLC acquired the asset from H.A.L. Construction for $5.4 million. Penske Truck Leasing occupies the 20,168-square-foot, multi-bay truck maintenance facility, which is situated on 3.4 acres and fully fenced. John V. Propp and Joshua Cohen of John Propp Commercial Group represented the seller, while Stream Realty represented the buyer in the transaction.

FacebookTwitterLinkedinEmail
2500-2550-Paseo-Verde-Pkwy-Las-Vegas-NV

— By Geoffrey West, Senior Vice President, Investment Property Sales and Acquisitions, MDL Group/CORFAC International — The Las Vegas retail market remains a tale of two cities with the tourism-driven Resort Corridor and surrounding MSA comprising two very different markets.  In the past, the stories of the “cities” were somewhat divergent with robust development, premium rents, and top-tier restaurant, bar, entertainment and retail tenants dominating in the Resort Corridor. In contrast, the primarily suburban MSA experienced decreasing rental growth rates, metered new development and fewer exciting new tenants.  However, looking at the past and current years, as well as into 2025, it appears the party isn’t just on the Las Vegas Strip anymore. Due in part to a statistical undersupply, the suburban Las Vegas retail market is poised to experience increasing rental growth rates over the next 12 to 18 months. The lack of new supply is expected to put continued upward pressure on retail leasing rates and downward pressure on vacancy rates, which are expected to be nearing record 2007 levels.  Economic Summary The Las Vegas market saw the completion of more than $8 billion in development in 2023. Among these are the $3.9 billion, 3,644-room Fontainebleau Las Vegas, …

FacebookTwitterLinkedinEmail
Milmont-Industrial-Fremont-CA

FREMONT, CALIF. — A joint venture between Oaktree Capital Management and Hines Interests has broken ground on Milmont Industrial, an advanced manufacturing and distribution facility in the Bay Area city of Fremont. Located at 49000 Milmont Drive, Milmont Industrial will be redeveloped from three buildings into a 267,000-square-foot industrial building with high clear heights, heavy power, ample parking and loading docks. CBRE is marketing the facility for lease.

FacebookTwitterLinkedinEmail