DENVER – Greenbriar Plaza Shopping Center in Denver has sold to JS Western Retail Investments for $8.2 million. The center is located at 7041-7181 Pecos Street. It is fully occupied by 21 tenants, including Family Dollar, Ace Hardware, Pizza Hut and Grease Monkey. Acquisition financing was arranged by Bryan Gortikov of George Elkins Mortgage Banking Company. This is JS Western’s first acquisition in Colorado. The firm was represented by Chris Wiedenmeyer of Legacy Retail Group. The seller, Real Capital Solutions, was represented by Barry Higgins of Marcus and Millichap.
DENVER – A 23-unit apartment building in Denver has sold to an unnamed buyer for $3.4 million. The community is located at 2701 Federal Blvd., near the Highland neighborhood. It was built in 1971. The buyer was represented by Saratoga Property Advisors. The seller, Cedarbridge Apartments, was represented by the Calame Lewallen Team at Pinnacle Real Estate Advisors.
BOULDER, COLO. – Walnut Business Center, a 113,594-square-foot industrial/flex property in Boulder, has received $6.5 million in permanent financing. The center is located at 3201-3297 Walnut Street, 3220-3240 Prairie Ave. and 1925-1965 33rd Street. The eight-tenant center is fully leased. Financing was arranged by Steve Bye and Brian Fisher of NorthMarq Capital’s Denver office through the firm’s correspondent relationship with a life insurance company.
DENVER – Molson Coors Brewing Co. has leased 53,872 square feet in Denver. The 1.3-million-square-foot building is located at 1801 California Street in the city’s Central Business District. Molson Coors was represented by Ted Harris and Travis Young of Cassidy Turley. The landlord, Brookfield Office Properties, was represented by Nicholas Pavlakovich and David Sternberg of Cushman & Wakefield.
It’s no secret that with the abundance of developable land, affordable housing, and close proximity to the ports and major freeways, the Inland Empire has a tremendous advantage in relation to other Western markets. The Inland Empire industrial market has experienced a transactional volume of 120 deals for 100,000 square feet or more, as of this past November. There are also more than 30 buildings under construction, which total more than 15 million square feet. Developers have been quick to respond to demand, with about 15.5 million square feet of construction completed in the Inland Empire to date, thanks to Fortune 500 retailers and third-party logistics (3PL) firms nabbing large space within the market due to an improving economy. With another 15 million square feet currently under construction, the Inland Empire’s industrial base will foreseeably increase by 10 percent by the end of 2016. Assuming the current state of economic growth continues, the Inland Empire industrial market is expected to finish 2014 strong, with positive market activity poised to continue well into 2015 and 2016. The industrial demand in the Inland Empire is closely associated to international trade and continues to attract large distributors, warehouses, e-commerce companies and logistics firms …
MISSION VIEJO, CALIF. – C3 Properties LLC has purchased three outparcel retail pads at the Trabuco Hills Shopping Center in Mission Viejo for $15 million. The pads total 24,250 square feet. They are located at 27785, 27845 and 27865 Santa Margarita Parkway. The pads are fully leased to Walgreens, Claim Jumper and Ramona Tire & Service. C3 Properties was represented by HFF’s Trevor Harris, Matt Crawford and Jim Wellbaum of Triwell Properties. The seller, Trabuco Hills Pads LLC, was represented by CJ Osbrink and Nick Foster of the same firm.
ARVADA, COLO. – The 12-unit Scandia Apartments in Arvada has sold to a local buyer for $1.2 million. The community is located at 9990-10000 W. 59th Place. It was built in 1959. Scandia was fully leased at the time of sale. Joe Hornstein represented the buyer, while the local seller was represented by Josh Newell, both of Pinnacle Real Estate Advisors.
RENO, NEV. – Light in the Box (LITB) has leased 26,000 square feet of distribution space at the Capital Commerce Center in Reno. The space is located at 4970 Joule Street. LITB is a global online retail company. The unnamed landlord was represented by Steve Kucera, Michael Nevis, J. Michael Hoeck and Dave Simonsen of the NAI Alliance Industrial Properties Group.
FREMONT, CALIF. – Pacific Commons, a 1.1-million-square-foot power center in Fremont, has received 12 new tenants. The newest residents include Dick’s Sporting Goods, the Kebab Shop, Buffalo Wild Wings, Dish ‘N Dash, Carter’s/Osh Kosh, Bennigan’s, Cream, Bowl of Heaven, Pancheros Mexican Grill, Boneheads, Technology Credit Union and Ono Hawaiian BBQ. The majority of retailers will open next spring, while Dick’s Sporting Goods, the Kebab Shop and Buffalo Wild Wings all premiered recently. Vestar serves as Pacific Common’s property manager. The landlord is a large institutional owner.
CHANDLER, ARIZ. – Dual Diagnosis Treatment Center has leased 10,654 square feet of office space in Phoenix. The center will occupy the North East building at 5520 W Chandler Blvd. The new 10-year lease will commence this December. Dual Diagnosis was represented by Mike Knapp of Voit’s Phoenix office. The landlord was not named.