Western

Phoenix Children’s Hospital Leases Space at Biltmore Commerce Center in Phoenix

by Nellie Day August 3, 2015

PHOENIX — Phoenix Children’s Hospital has leased 27,265 square feet of space at Biltmore Commerce Center in Phoenix. The Class A complex is located at 3200 E. Camelback Road within the Camelback Corridor. The new lease brings the center to nearly 96 percent occupancy. Other notable tenants include HDR Engineering, Lee & Associates, United Way, Greystar, North American Title Company, DeRito Partners and Miller Russell & Associates. Scott Maxwell of CRESA represented the hospital in the transaction. Bill Blake, Craig Coppola, Andrew Cheney and Colton Trauter of Lee & Associates represented the landlord, Lincoln Property Company.

August 3, 2015

California Multifamily Seniors Housing Western

Bascom Acquires Independent Living Community in California for $31.2M

by Nellie Day August 3, 2015

FONTANA, CALIF. — The Bascom Group LLC has acquired Courtyard Senior Apartments, a 344-unit independent living community in Fontana, for $31.2 million ($90,552 per unit). Built in 1989, Courtyard Senior Apartments consists of four three-story buildings on 8.5 acres. Gary Mozer and Katie Rodd of George Smith Partners arranged the debt financing, with One West Bank providing the new loan. Stephen Peters of Melody West was the broker for the sale. This marks Bascom’s 14th recent California acquisition and comes on the heels of the closing earlier this month of The Square Apartments, a 112-unit garden style apartment community in Downey, Calif., for $25.5 million. Bascom is a Irvine, Calif.-based private equity firm specializing in multifamily, commercial, and non-performing loans and real estate related investments and operating companies.

August 3, 2015

Multifamily Seniors Housing Washington Western

Aegis Breaks Ground on Seniors Housing Community and Cultural Center

by Nellie Day August 3, 2015

NEWCASTLE, WASH. — Seniors housing developer Aegis Living has broken ground on Aegis Gardens in Newcastle near Seattle, marking the Pacific Northwest’s first senior living community for Chinese-Americans. Situated on a 7.5-acre waterfront site with access to Lake Boren, the resort-style, 110-home community is slated to open in 2017. When completed, Aegis Gardens’ activity center will host civic activities and cultural exhibitions. The center will also provide daycare services to promote multigenerational engagement. According to Nielson, 92,000 Chinese-Americans live within a 25-mile radius of the Newcastle location. Aegis Gardens’ community programming will include celebrations of Chinese holidays, traditional cuisine representing major regions of China, mahjong, calligraphy, cribbage, Tai Chi classes, a central Zen garden and a tearoom. Staff fluent in Cantonese, Mandarin and English will provide 24-hour care. The development site in Newcastle, a block from the Bellevue city line, is culturally relevant for Chinese-Americans because immigrants from China mined coal there in the late 1800s, contributing to Seattle’s rise to prominence.

August 3, 2015

California Loans Retail Western

NorthMarq Capital Arranges $10M Refinance of Livermore Valley Shopping Center

by Nellie Day August 3, 2015

LIVERMORE, CALIF. — NorthMarq Capital has arranged the $10 million refinance of Livermore Valley Shopping Center, a 78,377-square-foot retail property located in Livermore. Dennis Williams of NorthMarq secured the loan, which is structured with a 10-year term and 30-year amortization schedule. Tenants of the center include Dollar Tree, Fitness 19 and O’Reilly Auto Parts.

August 3, 2015

Retail Utah Western

New Starbucks Debuts Near Intermountain Medical Center in Murray

by Nellie Day August 3, 2015

MURRAY, UTAH — A new 5,000-square-foot Starbucks location has debuted in Murray. It is located at 5141 South State St. The building is situated across from Intermountain Medical Center. Wadsworth Development Group developed the center.

August 3, 2015

California Multifamily Western

RRE Bonita Glen Holdings Buys The Villages at Bonita Glen in Chula Vista

by Nellie Day July 31, 2015

CHULA VISTA, CALIF. — RRE Bonita Glen Holdings has purchased The Villages at Bonita Glen, a 295-unit multifamily community in Chula Vista, for $49.1 million. The community is located at 240, 250, 254 and 260 Bonita Glen Drive and 72 Sandalwood Drive. The Villages was built in two phases in 1970 and 1988. It is fully occupied. Alex Mogharebi of Berkadia executed the transaction. The seller was Granite Investment Group.

July 31, 2015

California Industrial Western

Ridgeline Property Group to Develop Tracy Pescadero Distribution Center

by Nellie Day July 31, 2015

TRACY, CALIF. — Ridgeline Property Group has announced its plans to develop Tracy Pescadero Distribution Center, a 381,600-square-foot regional distribution facility, just west of Modesto. The speculative facility will be located at 1700 East Pescadero Ave. in Tracy. The new development will feature feature 32-foot clear heights, 57 dock-high doors, two drive-in doors, a 185-foot truck court, 92 trailer parking spaces, 317 auto parking spaces, and early suppression fast response (ESFR) fire sprinklers. The site has access to interstates 205 and 580, in addition to Highway 99. It is also situated near the Union Pacific and Burlington Northern Santa Fe intermodal facilities. Construction is set to commence this October, with completion scheduled for May. Tom Davis and Darren McFadden of Lee & Associates will market the property. LaSalle Investment Management is Ridgeline’s investment partner on this project.

July 31, 2015

Multifamily Washington Western

Hamilton Zanze & Co. Buys Lakeside Landing in Tacoma

by Nellie Day July 31, 2015

TACOMA, WASH. — Hamilton Zanze & Co. has purchased the 450-unit Lakeside Landing in Tacoma for an undisclosed sum. The community is located at 1414 South Mildred St., near Washington State Route 16. Lakeside Landing was built in 1969. It features one- and two-bedroom units. The property was 95 percent occupied at the time of sale. Kenny Dudunakis and Jim Jensen of Berkadia executed the sale. The seller was not named.

July 31, 2015

California Retail Western

Smart & Final Extra! in Moreno Valley Sells for $7M

by Nellie Day July 31, 2015

MORENO VALLEY, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of a two-tenant retail building occupied by Smart & Final Extra! and Dollar Tree, which sold for just over $7 million. Ed Hanley and Bill Asher of Hanley represented the seller, Brad Becker of Becker Properties. The property was sold to GBF Investment LLC, represented by Bob Bonanomi of CBRE.

July 31, 2015

California Retail Western

New Crunch Franchise Debuts in San Dimas

by Nellie Day July 31, 2015

SAN DIMAS, CALIF. — Crunch Franchise, a New York-based gym chain, has opened a new location in San Dimas. It is located in Foothill Village Shopping Center. Chris Eyre is the franchisee. General manager Spencer Rich is the operator.

July 31, 2015

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