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.
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.
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.
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.
LOS ANGELES — JCH Consulting Group, a brokerage specializing in seniors housing, has arranged the sale of a 90-unit assisted living and memory care community in Los Angeles for $23.4 million. The name of the facility was not disclosed. The seller was an independent owner/operator based in Southern California. The buyer was a real estate investment firm that will use a third-party management company. With a sales price of $260,000 per unit, the community currently features a 6.6 percent capitalization rate and 86 percent occupancy.
RANCHO CUCAMONGA, CALIF. — Crunch Franchise, a New York-based gym chain, has opened a new location in Rancho Cucamonga. The outlet is located in Foothill Marketplace. David Harman is the franchisee and general manager Spencer Rich operates the gym.
SEASIDE, CALIF. — Savills Studley’s National Retail Services Group has arranged the $16 million sale of a triple-net leased, 119,000-square-foot Home Depot located in Seaside. Kyle Miller and Bill Bauman of Savills Studley represented the seller, New York Life Real Estate Investors, in the transaction. Hovercraft LLC purchased the property at a cap rate between 3 and 4 percen. Home Depot’s lease runs through 2032.
MORENO VALLEY, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of a two-tenant retail building in Moreno Valley occupied by Coast Dental office and TitleMax, which sold for $3.3 million. Ed Hanley and Bill Asher of Hanley represented the seller, MV-Perris LLC. It was sold to TC Enterprise Group LLC, represented by Charles Wong of CCRE Capital Commerce Inc.
SCOTTSDALE, ARIZ. — Arizona-based marketing agency Leavitt Digital has launched its Senior Living Division and hired Kim Tranmer, a 25-year industry veteran, as managing director. Leavitt Digital’s new division focuses on increasing the online presence, search engine optimization (SEO), review monitoring, and press releases distribution in the seniors housing industry. Tranmer’s career in seniors housing includes sales, marketing, consulting and management prior to joining Leavitt Digital. Her primary role will be business development and relationship management, presenting Leavitt Digital’s platform to owners, managers and consultants in the industry.
TEMECULA, CALIF. — The Praedium Group has acquired The Vineyards at Paseo Del Sol, a 288-unit apartment community in Temecula, for $69.6 million. The community is located at 31901 Campanula Way. The property was built in 2014. Paseo Del Sol is the only LEED Gold-certified apartment community in Temecula. It is currently 87 percent leased. CBRE’s Curtis Palmer, Peter Sherman and Paul Runkle represented the seller, the Dinerstein Companies. Brian Eisendrath and Annie Rice of CBRE Capital Markets’ Debt & Structured Finance team secured $43.3 million in financing for the acquisition.