Western

Phillips Edison & Co. Buys Westgate North Shopping Center in Tacoma, Washington for $37M

by Amy Works April 29, 2025

TACOMA, WASH. — Phillips Edison & Co. has acquired Westgate North, a retail center in Tacoma. Located at 2601 N. Pearl St., Westgate North offers 74,789 square feet of retail space that is 97.9 percent leased to a mix of national and local tenants. Westgate North is shadow-anchored by Safeway. Other major tenants include Ace Hardware, Taco Bell, Chase Bank, Franciscan Health System and Anytime Fitness. Gleb Lvovich, Geoff Tranchina and Daniel Tyner of JLL Capital Market’s Investment Sales and Advisory team represented the undisclosed seller in the deal.

April 29, 2025

Acquisitions California Office Western

Bailard Sells 90,191 SF Office Property in Orange, California

by Amy Works April 29, 2025

ORANGE, CALIF. — Bailard has completed the disposition of an office property located at 725 West Town and Country Road in Orange. A local buyer acquired the asset for $15.4 million. The five-story, 90,191-square-foot is currently 62 percent leased to 12 tenants. Anthony DeLorenzo, Sammy Cemo, Bryan Johnson and Harry Su of CBRE represented the seller in the transaction.

April 29, 2025

Civic Colorado Development Industrial Office Western

Bryan Construction Completes Madera Cyber Innovation Center in Colorado Springs

by Amy Works April 29, 2025

COLORADO SPRINGS, COLO. — On behalf of the United States Air Force Academy, Bryan Construction has completed Madera Cyber Innovation Center, a cybersecurity training facility for cadets in Colorado Springs. The four-story, 48,800-square-foot facility will be home to Air Force CyberWorx, the Department of Computer and Cyber Science and the Institute of Future Conflict. The facility provides the essential laboratory and workspace environments for cadets engaged in critical disciplines, including cyber engineering, cyber law and cybersecurity forensics. Designed by Clark Nexsen, the facility features a structural glass wall system and a free-floating, self-supporting curvilinear staircase. Construction of project included an extensive communication and technology infrastructure with 29 miles of cabling integrated throughout the facility. Additionally, Madera Cyber Innovation Center meets UFC 4-023-03 standards for progressive collapse resistance.

April 29, 2025

Acquisitions California Retail Western

Hanley Investment Group Arranges $12.6M Sale of Shopping Center in Fullerton, California

by Amy Works April 29, 2025

FULLERTON, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $12.6 million sale of North Euclid Shopping Center, a 41,219-square-foot shopping center located in the Orange County city of Fullerton. A 21,480-square-foot Stater Bros. Markets formerly anchored the property. The remaining space is fully leased to a barber shop, hair salon, family dentist, chiropractic office, H&R Block and multiple quick-service restaurants. Kevin Fryman, Eric Wohl and Ed Hanley of Hanley Investment Group represented the seller, Anaheim, Calif.-based Kraemer Land Co., and the buyer, an off-market local private investor, in the transaction. Kraemer Land Co. has managed North Euclid Shopping Center for 21 years.

April 29, 2025

Acquisitions California Industrial Lee & Associates Western

Lee & Associates Brokers $3M Sale of Industrial Property in Placentia, California

by Amy Works April 29, 2025

PLACENTIA, CALIF. — Lee & Associates | Orange has arranged the sale of an industrial asset located at 1101 Richfield Road within Miraloma Business Center in Placentia. Davcal sold the property to Chin Kim for $3 million. Originally built in 1991, the 7,492-square-foot warehouse facility features 400 amps, 120/208v, three-phase electrical service; 16-foot minimum warehouse clearance; two ground-level doors; 3,000 square-foot of office space, plus a second-floor office space; and easy access to local freeways. Jameson Hearne, Marshal Vogt and Bryan Miller of Lee & Associates | Orange represented the seller in the deal.

April 29, 2025

Content Partner Development Features Industrial Leasing Activity Lee & Associates Midwest Multifamily Northeast Office Retail Southeast Texas Uncategorized Western

Lee & Associates: Tariffs Add to Q1 Industrial Challenges; All Sectors See Constrained Development

by Sarah Daniels April 29, 2025

The end of the first quarter of 2025 saw market uncertainty in the face of new U.S. trade and tariff policies combined with an unclear geopolitical outlook, according to Lee & Associates’ 2025 Q1 North America Market Report. The effect of these concerns within the commercial real estate world are most evident in the industrial sector, which is also contending with oversupply and softening rent growth. Development is slow across property types. Retail, despite high-profile store closures in early 2025, remains historically tight on space as years of underbuilding keep availabilities near record lows. Office demand has stabilized in several major metros following years of contraction, though vacancy remains elevated. The pipeline of new construction is both drying up and favoring new types of tenants beyond traditional office spaces. Multifamily is seeing strong tenant demand in certain markets despite a flood of new deliveries. Lee & Associates has made their full market report available here (click through for detailed breakdowns and city-by-city information). The information below for the industrial, office, retail and multifamily sectors offers clarity on market-wide demand, rent growth trends and challenges likely to shape trajectories throughout 2025. Industrial Overview: Soft Markets Face Tariff Disruptions North America’s industrial markets …

April 29, 2025

California Loans Mixed-Use Multifamily Restaurant Retail Western

Dwight Mortgage Provides $48M Construction Loan for Multifamily Project in San Diego

by Amy Works April 28, 2025

SAN DIEGO — Dwight Mortgage Trust, an affiliate REIT of Dwight Capital, has provided a $48 million construction loan for GH 25, a planned multifamily development in San Diego. CAST Development is the borrower and project developer. The loan will be used alongside sponsor equity to fund construction, establish an interest reserve and cover transaction costs for the borrower. The eight-story project will offer 114 studio, one- and two-bedroom apartments with ceiling heights up to 10 feet, floor-to-ceiling glass windows and private balconies. Onsite amenities will include a seventh-floor amenity terrace with a plunge pool, fire pits, barbecues and lounge areas. GH 25 will also feature 3,250 square feet of ground-floor retail space and commercial space anchored by a restaurant and wine bar concept. TFWA Architects is serving as architect for the project.

April 28, 2025

California Industrial Leasing Activity Western

Lionext Leases 106,110 SF Distribution Facility in Santa Fe Springs, California

by Amy Works April 28, 2025

SANTA FE SPRINGS, CALIF. — Lionext Inc. has signed a deal to occupy a 106,110-square-foot distribution facility in Santa Fe Springs. The 10-year lease is valued at $22 million. Ryan Campbell of NAI Capital Commercial represented the tenant, while Joel Hutak and Phillip De Rousse of Lee & Associates represented the landlord, Kekropia Inc., in the deal. Located at 11650 Burke St., the Class A facility offers a clear height of 32 feet at the first column, 16 dock-high positions, two grade-level doors, approximately 7,000 square feet of office space and a large fenced yard with drive-around truck access. Built in 2011, the building also features ESFR sprinklers, 2.5 percent skylights, 50-foot by 52-foot column spacing and a 200-foot shared concrete truck court. Additionally, the asset is located near 605 Freeway.

April 28, 2025

California Development Restaurant Retail Western

ALMQUIST to Open 20,000 SF Culinary Food Hall in Whittier, California

by Amy Works April 28, 2025

WHITTIER, CALIF. — San Juan Capistrano, Calif.-based ALMQUIST will open Rodeo 72, a 20,000-square-foot food hall in Whittier. The food hall is being created in a building that once housed a juvenile correctional facility. Rodeo 72 will contain 15 food-and-beverage concepts, a bar and a community-driven space for live music, local art and pop-up events. Additionally, tattoo studio Grailed Galley will also open inside Rodeo 72. The food hall is scheduled to open Saturday, May 3. ALMQUIST has also developed Rodeo 39 Public Market in Stanton, Calif., and Rodeo at River Street in San Juan Capistrano.

April 28, 2025

Acquisitions Arizona Healthcare Western

Cushman & Wakefield | PICOR Brokers Sale of 15,000 SF Medical Office Building in Tucson, Arizona

by Amy Works April 28, 2025

TUCSON, ARIZ. — Cushman & Wakefield | PICOR has arranged the sale of a medical investment property located at 4881 E. Grant Road in Tucson. Elliott Bay Medical Properties Holdings LLC acquired the asset from a private investment group for $5.5 million. Pain Institute of Southern Arizona occupies the 15,000-square-foot property on a long-term lease. Bryce Horner of Cushman & Wakefield | PICOR represented the seller in the deal.

April 28, 2025

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