ALBUQUERQUE, N. MEX. – At Home Stores has leased 87,915 square feet at Market Center Crossing in Albuquerque. The center is located at the northeast corner of Interstate 40 and Eubank. It is shadow anchored by Target. At Home will be leasing a space previously occupied by Sports Authority and Michael’s. The center is currently undergoing a redevelopment. The landlord is a partnership between Accelerated Development Services and Q Investments.
PEORIA, ARIZ. – A 60,080-square-foot retail space in Peoria has sold to JGNK Investments Arizona LLC for $3.6 million. The Class B space is located at 7575 W. Cactus Road. The tenant, Lee Lee Oriental Supermarket, recently signed a new 20-year lease at the property, which was built in 2002. JGNK was represented by Vicky Papoulias of Geovest Corporation. The seller, 75 Cactus LLC, was represented by Marcus Muirhead and Lauren Rodes of Colliers International.
SYLMAR, CALIF. – The 81-unit Vista Ridge Apartment Homes in Sylmar has sold to a private owner/operator for $14.2 million. The community is located at 13500 Foothill Blvd. in the San Fernando Valley submarket. It was built in 1987. The seller, Benedict Canyon Equities, was represented by Ronald Harris, Rick Raymundo, Paul Darrow and Michael DiSimone of Marcus & Millichap’s Los Angeles office.
OCEANSIDE, CALIF. – A triple-net ground lease for a 7-Eleven at Oceanside Plaza has sold to a private investor from Northern California for $2.1 million. The space is located at 2003 Mission Ave. in Oceanside. The property is currently under construction. It will eventually include the 2,400-square-foot convenience store and a gas station. The property used to house a Union 76 gas station. The buyer was represented by Jay Patel of Cushman Wakefield. The seller, a private investor from Agoura Hills, was represented by Jonathan Selznick of Hanley Investment Group Real Estate Advisors.
Seattle has come a long way since the 1971 billboard reading “will the last person leaving Seattle turn the lights off?” The greater Seattle economy and real estate market has continued to be one of the nation’s top- performing locales, even exceeding its prior 2007 peak. Large corporations such as Amazon, Boeing, Microsoft and Starbucks, along with many independent startup companies, have rapidly reduced the unemployment rate, which has dropped to 4.8 percent. The construction pipeline in Seattle remains robust. With more than 20 cranes working on new developments, the market has the most active projects underway since the Downtown Seattle Associations started tracking development in 2005. Nearly two-thirds of construction in Seattle is residential, with more than 5,000 new apartment units opening since January 2013, and more than 6,000 new units to be completed in the next three years, according to the DSA report. During the past year, the amount of office space under construction has nearly doubled from 1.7 million square feet to more than 3.2 million square feet. A large contributor to this is Amazon’s revitalization of the South Lake Union area. Amazon’s global workforce has doubled in the past two years, and the company is reportedly …
DENVER – Boulder Tech Center, a 169,596-square-foot flex/research and development campus in Boulder County, has received an $8-million loan. The four-building campus is located at 6400 and 6450 Dry Creek Parkway and 6325 and 6450 Monarch Parkway. The non-recourse, 10-year loan features an interest rate of 3.7 percent and a 25-year amortization schedule. It was arranged by Stephen P. Bye of NorthMarq Capital’s Denver regional office.
COLORADO SPRINGS, COLO. – The Shoppes on Academy, a 7,599-square-foot shopping center in Colorado Springs, has sold to an unnamed buyer for $4.1 million. The Class A center is located at 7252 North Academy Blvd. Notable tenants include Verizon, Floyd’s 99 Barber Shop and Five Guys Burgers and Fries. The seller was represented by Tom Ethington and Rob Edwards of Pinnacle Real Estate Advisors.
LOS ANGELES – A 24,000-square-foot industrial building in Los Angeles has sold to Sam Jung Enterprises for $3 million. The building is located at 1929 W. Pico Blvd. It was built in 1965. The space is fully occupied by Loomis, an armored car transport service. Sam Jung was represented by Chris Steck of Charles Dunn Company. The seller, Namco Liquidating Trust, was represented by Stacy Vierheilig-Fraser of the same firm.
SAN DIEGO – An 18-unit apartment complex in the North Park submarket of San Diego has sold to the Bill Shepard MD Trust for $3.2 million. The complex is located at 3946-52 Idaho Street. It was built in 1970. The trust was represented by CBRE’s Eric Comer. The seller, LenRae LLC, was represented by Terry Taylor of ACI Apartments.
FORT COLLINS, COLO. – Genesis Hospitality has subleased 20,000 square feet of industrial space in Fort Collins. The space is located at 1730 East Prospect Road. It was sublet from Advanced Energy. Jared Goodman and Jason Ells of Cassidy Turley and JLL’s Mike Deatly and Todd Roebken represented both parties in this transaction.
