Western

ITT Technical Institute Renews Space in Phoenix

by Nellie Day March 17, 2015

PHOENIX – ITT Technical Institute has renewed its lease for 18,000 square feet of office space in Phoenix. The space is located at West 101 Business Center. The center contains three Class A office buildings totaling 118,853 square feet. The center is about 88 percent leased. ITT Technical Institute has more than 130 locations in 38 states across the U.S. ITT Tech currently has four campuses throughout Arizona, serving thousands of students annually. The five-year lease renewal was executed by ViaWest Group and Lee & Associates.

March 17, 2015

Colorado Industrial Western

Manufacturing Facility in Denver Sells for $3.2M

by Nellie Day March 16, 2015

DENVER – A 32,900-square-foot manufacturing facility in Denver has sold to 1425 Market LLC for $3.2 million. The facility is located at 2800 Walnut Street. The seller, Gold Star Sausage, had used the facilities to manufacture its sausages and hot dogs. It plans to keep its headquarters in Denver. The buyer intends to renovate the USDA certified food processing facility. Gold Star Sausage was represented by NGKF’s Russell Gruber and Pete Staab.

March 16, 2015

California Office Western

Wpromote Leases Space at Campus 2100 in El Segundo

by Nellie Day March 16, 2015

EL SEGUNDO, CALIF. – Wpromote has leased 34,492 square feet at Campus 2100 in El Segundo. The three-building campus is the former home of Rhythm & Hues Studios. The online advertising firm signed a 7.5-year lease at the property. It is relocating its headquarters from another nearby office building where it occupied 21,335 square feet. Wpromote was represented by JLL’s Steve Solomon and Eric Adams. Tom Sheets and Chris Sinfield of Cushman & Wakefield represented the landlords, Rockwood Capital, LLC (Rockwood) and Marshall Property & Development, in this transaction.

March 16, 2015

Colorado Loans Retail Western

Lambertson Lakes Shopping Center in Thornton Receives $2.1M

by Nellie Day March 16, 2015

THORNTON, COLO. – Lambertson Lakes Shopping Center, a 13,465-square-foot retail center in the Denver submarket of Thornton, has received $2.1 million in financing. Phase I of the center is located at 871-887 Thornton Parkway. The property is shadow anchored by a 55,000-square-foot Safeway grocery store that was not part of the transaction. The permanent, 10-year, CMBS loan allowed the borrower to obtain a 30-year amortization on a non-recourse basis. The refinance was arranged by Steve Bye and Brian Fisher of NorthMarq Capital’s Denver office.

March 16, 2015

Arizona Office Western

ConnectionsAZ Leases 36,000 SF at Phoenix Memorial Center

by Nellie Day March 16, 2015

PHOENIX – ConnectionsAZ has leased 36,000 square feet at Phoenix Memorial Center. The center is located at 1201 S. 7th Ave. in Phoenix. The building is the former Phoenix Memorial Hospital. The physician-led company specializes in emergency/crisis psychiatric services. It plans to operate a patient intake center from this location. ConnectionsAZ was represented by Kevin Lange of Keyser. The landlord, Memorial Key LLC, was represented by Kate Morris and Vince Femiano of CBRE’s Phoenix office.

March 16, 2015

Industrial Oregon Western

Romanoff Floor Coverings Leases Industrial Space in Bend

by Nellie Day March 16, 2015

BEND, ORE. – Romanoff Floor Coverings has leased 4,537 square feet of industrial/warehouse space in Bend. The space is located at 63026 Plateau Drive. The flooring construction services provider was represented by Ron Ross and Terry O’Neil of Compass Commercial in this transaction. The landlord was not named.

March 16, 2015

Arizona Office

Crow Holdings Buys Esplanade III Office Building in Phoenix

by Nellie Day March 13, 2015

PHOENIX — Crow Holdings has purchased Esplanade III, a 218,266-square-foot office building in Phoenix, for an undisclosed sum. The Class A property is located at 2415 East Camelback Road. It is part of the Esplanade mixed-use development. Esplanade III was about 95 percent leased at the time of sale. Notable tenants include CBRE, Alliance Residential, Regus, Helios and Major League Baseball’s western headquarters. The ten-story building was developed in 1997. It is situated in the Camelback Corridor. The seller was an institutional client of AEW Capital Management L.P. The transaction was executed by CBRE’s Jim Fijan, Will Mast and Kevin Shannon.

March 13, 2015

Retail Washington Western

Seattle Retail Portfolio Receives $64M in Financing

by Nellie Day March 13, 2015

SEATTLE — A four-property retail portfolio in Seattle has received $64 million in financing. The transaction includes acquisition financing for a 49,000-square-foot shopping center in Bellevue that is anchored by Walgreens and Trader Joe’s. It also allowed the borrower to refinance Mill Creek Town Center, a 182,000-square-foot, grocery-anchored lifestyle center in Mill Creek, as well as two retail properties in Kirkland and Bellevue. The fully amortizing, cross-collateralized loans were arranged by Mike Taylor and Patrick Taylor of Newmark Realty Capital. The loans were placed through a relationship with one of Newmark’s correspondent life insurance companies.

March 13, 2015

Colorado Office Western

Granite Properties Buys High Pointe Tower Near Denver

by Nellie Day March 13, 2015

DENVER — Granite Properties has purchased High Pointe Tower, a 119,834-square-foot office property in the southeastern Denver suburb of Greenwood Village for an undisclosed sum. The property is located at 6430 South Fiddler’s Green Circle. High Pointe Tower was built in 1998. It sits directly across from Granite’s Plaza Tower One property, near Arapahoe Light Rail Station and the 203-room Westin Greenwood Village, which is scheduled to open next year. The building is currently 81 percent occupied by notable tenants like Hartford Insurance, TransUnion and the U.S. General Services Administration. High Pointe Tower is Granite’s third Denver-based acquisition since 2012. It also owns Plaza Tower and Prentice Plaza. The firm was represented in-house by Stephanie Lawrence, Will Hendrickson and Geoff Wescott. The unnamed seller was represented by CBRE’s Geoff Baukol.

March 13, 2015

Multifamily Seniors Housing Utah Western

Courtyard at Jamestown in Provo Receives $24.2M in Financing

by Nellie Day March 13, 2015

PROVO, UTAH — Courtyard at Jamestown, a 132-unit assisted living and dementia care seniors housing community in Provo, has received $24.2 million in acquisition financing. The facility is located at 3352 N. 100 E. The community opened in 1999. It is situated about three miles north of Provo’s Central Business District, just minutes from Utah Valley Regional Medical Center. The borrower was ROC|Seniors Housing Fund Manager. ROC|Seniors is a subsidiary of Bridge Investment Group Partners. The seven-year Freddie Mac loan features a fixed-rate term with an interest-only period. It was structured by Berkeley Point Capital. This is Berkeley Point’s third financing with ROC Seniors over the past year.

March 13, 2015

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