Tuesday, June 17, 2025
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AcquisitionsColoradoRetailWestern

Copper2 Divests of 30,024 SF Southgate Shopping Center in Centennial, Colorado

by Amy Works

CENTENNIAL, COLO. — Copper2 LLC has completed the disposition of Southgate Shopping Center, a neighborhood retail center in Centennial, a suburb of Denver. Arapahoe RHSW LLC acquired the asset for $7.7 million. Located at 6802-6882 S. Yosemite St., the two-building Southgate Shopping Center offers 30,024 square feet of retail space. At the time of sale, the property was 83 percent leased to 13 tenants, including food and beverage, financial services, fitness and personal care services. Jon Hendrickson, Aaron Johnson and Mitch Veremeychik of Cushman & Wakefield represented the seller in the deal.

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105-E-Dorset-Dr-Dixon-CA
AcquisitionsCaliforniaRetailWestern

Marcus & Millichap Arranges Sale of 12,132 SF Retail Property in Dixon, California

by Amy Works

DIXON, CALIF. — Marcus & Millichap has negotiated the sale of a retail building located at 105 E. Dorset Drive in Dixon, approximately 25 miles southwest of Sacramento. A private investor sold the asset another private investor for $3.6 million. The multi-tenant property features 13,132 square feet of retail space. Michael Grandstaff and Christopher Hund of Marcus & Millichap represented the seller and procured the buyer in the deal.

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8727-W-McDowell-Rd-Tolleson-AZ
AcquisitionsArizonaMultifamilyWestern

Evergreen Devco Sells 258-Unit Multifamily Property in Tolleson, Arizona

by Amy Works

TOLLESON, ARIZ. — Evergreen Devco has sold Parc Tolleson, a 258-unit multifamily property located about 15 miles west of Phoenix. The sales price was $62.7 million. Completed in 2023, the garden-style community features one-, two- and three-bedroom units with an average size of 961 square feet. Residences features nine-foot ceilings, vinyl plank flooring and full-size washers and dryers. Amenities include a pool with fireplace lounges and poolside dining areas, electric vehicle charging stations, a pet spa, 24-hour fitness center and a clubhouse with gaming tables, seating areas and a coffee bar. Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen of CBRE represented Evergreen Devco in the transaction. Troy Tegeler and Trevor Breaux, also with CBRE, arranged acquisition financing on behalf of the buyer, Millburn & Co.

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10857-N-95th-Ave-Peoria-AZ
AcquisitionsArizonaIndustrialNAIWestern

NAI Horizon Brokers Sale of 198,304 SF Industrial Building in Peoria, Arizona

by Amy Works

PEORIA, ARIZ. — NAI Horizon has brokered the sale of a 198,304-square-foot industrial facility located at 10857 N. 95th Ave. in Peoria, a northwestern suburb of Phoenix. An entity doing business as Glez C Properties LLC acquired the asset from Chris Finn for $9.5 million. Jeffrey Garza Walker of NAI Horizon represented the buyer in the transaction, while the seller was self-represented.

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ArizonaLoansMultifamilyWalker & DunlopWestern

River City Bank Provides $15M Loan for Refinancing of Villa Montaña Apartments in Scottsdale

by Amy Works

SCOTTSDALE, ARIZ. — River City Bank has provided a $15 million loan for the refinancing of Villa Montaña, a 208-unit apartment complex located at 11350 E. Sahuaro Drive in Scottsdale. Built in 1986, the property offers one- and two-bedroom units and amenities such as a pool, fitness center and a 24-hour laundry room. Mark Plenge and Grant Robertson of Walker & Dunlop arranged the fixed-rate loan on behalf of the borrower, The Al Angelo Co.

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ColoradoDevelopmentIndustrialWestern

Confluent Development Unveils Plans for 175,000 SF Deer Creek Commerce Center in Denver Area

by Amy Works

LITTLETON, COLO. — Confluent Development has unveiled plans for Deer Creek Commerce Center (previously known as Ken Caryl Commerce Center), a 175,000-square-foot industrial project in Littleton, a southern suburb of Denver. Located at the intersection of C-470 and South Kipling Parkway, Deer Creek Commerce Center will consist of two buildings that can accommodate users with requirements of 20,000 to 175,000 square feet. Building features will include ESFR sprinklers, 28-foot clear heights and access to 250 parking spots. Murray & Stafford is serving as general contractor for the development, the groundbreaking of which is slated for later this month. CBRE is the leasing agent for the project.

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CaliforniaIndustrialLoansWestern

MMCC Arranges $7.1M Loan for Refinancing of Bay Area Industrial Facility

by Amy Works

SAN LORENZO, CALIF. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $7.1 million loan for the refinancing of a 63,245-square-foot industrial building in the Bay Area community of San Lorenzo. Bradley Buzil and Connie Duong of MMCC secured the financing through a local credit union on behalf of the undisclosed borrower. Feng Transportation, a wholesaler and third-party logistics company, occupies the property, which is located at 2225 Grant Ave.

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CaliforniaMarket ReportsOfficeWesternWestern Market Reports

Silicon Valley/South Bay Office Market Shows Resilience, Signs of Rebound

by Jeff Shaw

— By Kirsten Grado, Toss Vallentine and Wing Lee of JLL — The resilience of the South Bay/Silicon Valley economy has been tested with the dramatic change in hybrid work formats that enabled employees to work from anywhere. While office vacancy has hit near record levels over the past year, signs of strengthening fundamentals are pointing to a bottoming of the market and a period of opportunity for companies and investors with long-term views. So, what is marking the signs of optimism? Leasing activity has continued to improve as companies in technology, professional services, financial services/consulting and other sectors leased 865,000 square feet across 61 transactions in the first quarter of 2024.  The largest leases were PwC agreeing to move from downtown San Jose into 141,000 square feet within the top three floors of One Santana West, as well as a confidential tech firm leasing 162,000 square feet at Coleman Highline, also in San Jose. Other notable leases were TDK InvenSense renewing its 82,000-square-foot space in San Jose, as well as KMPG and the 49ers organization each taking about 50,000 square feet of space in new leases in Santa Clara. Premier space remains in high demand as companies look to …

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Inspira-Arrowhead-Glendale-AZ
ArizonaLoansMultifamilySeniors HousingWestern

JLL Arranges Financing for 165-Unit Seniors Housing Property in Glendale, Arizona

by Amy Works

GLENDALE, ARIZ. — JLL  has arranged an undisclosed amount of financing for Inspira Arrowhead, a newly constructed seniors housing property in Glendale. Inspira Arrowhead is a three-story building that spans 187,393 square feet and totals 165 units. The borrowers are funds managed by affiliates of Fortress Investment Group LLC and COGIR Senior Living. Alanna Ellis and Alex Sheaffer led the JLL team on the transaction. The direct lender was also not disclosed.

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Puesta-de-Sol-Apts-San-Diego-CA
CaliforniaDevelopmentMultifamilySeniors HousingWestern

Community HousingWorks Completes 59-Unit Affordable Seniors Housing Project in San Diego

by Amy Works

SAN DIEGO — Community HousingWorks (CHW) has completed Puesta del Sol Apartments, a 59-unit affordable seniors housing project in the Linda Vista neighborhood of San Diego. Residences are reserved for households earning 30 to 60 percent of the area median income, and the community has been awarded 59 project-based vouchers to ensure access for the most income-vulnerable residents. Additionally, six of the 59 vouchers will serve chronically homeless.The community only offers one-bedroom apartments, plus a two-bedroom manager unit. The San Diego Housing Commission provided a below-market-rate loan and project-based vouchers for the development. Additional funding was provided by construction and permanent lender Chase Bank (as a successor to First Republic Bank). Red Stone Equity Partners is an equity investor in the project. The California Tax Credit Allocation Committee provided 9 percent tax credits, and the city of San Diego waived $144,000 in permit fees. The locally based development team included general contractor Sun Country Builders, architectural firm Studio E Architects, civil engineering firm Project Design Consultants and landscape architect Schmidt Design Group Inc. Onsite services for residents are provided by CHW services partner, LifeSTEPS.

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