Western

IMT Capital Buys Alta Alameda Station in Denver

by Nellie Day October 10, 2014

DENVER — IMT Capital has acquired the 338-unit Alta Alameda Station in Denver for an undisclosed sum. The LEED-Gold-certified community is located at 275 S. Cherokee Street in the Baker neighborhood. The Baker neighborhood, just west of South Broadway, hasn’t received any new housing development in 10 years, according to Alta Alameda’s seller, Wood Partners. Alta Alameda was completed this past July. It is currently more than 90 percent occupied. The community sits across the street from the Alameda Light Rail station, which provides access to Downtown Denver and the Denver Tech Center. The site was previously home to a canning facility that provided rations during World War II, a Coors bottling plant and the Denver Studio complex. IMT Capital purchased this community with its affiliate, IMT Residential. Wood Partners is currently building three other luxury apartment communities in the Denver metro area, including Alta City House next to Union Station, Alta Harvest Station in Broomfield and Alta Cherry Hills in Englewood.

October 10, 2014

California Industrial Western

North San Diego to Receive First Industrial Spec Development Since 2008

by Nellie Day October 10, 2014

SAN DIEGO – McDonald Property Group and an entity owned by First Industrial Realty Trust have announced plans to develop La Pacifica II, a 237,275-square-foot industrial park in Oceanside. The $26-million project will be the first speculative industrial construction to occur in North San Diego since 2008, according to the developers. The three-building project will be located on a 15.8-acre site within the master-planned Ocean Ranch business park. It will be situated off Interstate 5 and Oceanside Boulevard. Ocean Ranch is also home to Coca Cola, Taylor Made and Genentech, among others. US Foods and FedEx will soon occupy space within the immediate area as well. The new project will feature three light warehouse manufacturing buildings that contain 108,413 square feet, 63,262 square feet and 65,600 square feet. This will be the first development project for McDonald Property Group, a company formed by Bruce McDonald in 2013. First Industrial Financing Partnership acquired the fully improved and entitled site from La Pacifica 2-Ocean Ranch LLC, an entity owned by Cruzan Monroe Investments, this past September for $9.6 million. La Pacifica 2-Ocean Ranch was represented by Aric Stark and Dennis Visser of Cassidy Turley in the sales transaction. The land was sourced …

October 10, 2014

Arizona Office Western

Flex Office Building in Phoenix Sells for $21.6M

by Nellie Day October 10, 2014

PHOENIX – A subsidiary of Griffin Opportunities has acquired a 145,000-square-foot flex-office showroom development in the Phoenix submarket of Deer Valley for $21.6 million. The building is located at 2851 W. Kathleen Road. The 9.5-acre property was developed in 1988 and renovated in 2009. It is fully leased to building technologies company Climatec. The subsidiary was represented by Ben Prater of Colliers International. The seller, Intravest 2851 Kathleen LLC, was represented by Bob Lundstedt and Chris Rogers of Daum. This is Griffin Opportunities’ first investment in Deer Valley. It also represents the largest transaction in the Deer Valley submarket so far this year, according to Daum.

October 10, 2014

California Office Western

Uber Leases Space at Monadnock Building in San Francisco

by Nellie Day October 10, 2014

SAN FRANCISCO — Uber Technologies has leased 77,600 square feet at the Monadnock Building in Downtown San Francisco. The 205,000-square-foot building is located at 685 Market Street. Uber will occupy four floors. The Monadnock Building was originally constructed in 1907. It is situated near Uber’s other San Francisco offices. It also offers employees easy access to the BART and MUNI. The property is within walking distance of Union Square. Uber will occupy this space by the end of the year. The landlord, Brookfield Property Partners, was represented by Chris Roeder, Jak Churton and Tom Doupe of Jones Lang LaSalle.

October 10, 2014

Arizona Office Western

SheKnows Leases Space at Element at Kierland in Scottsdale

by Nellie Day October 9, 2014

SCOTTSDALE, ARIZ. – SheKnows has leased 20,000 square feet at Element at Kierland, a 55,268-square-foot office building in Scottsdale. The space is located at 14614 N. Kierland Blvd. The women’s lifestyle media platform will use this space as its corporate headquarters. SheKnows was represented by Clint Hardison of Keyser. The landlord, Montana Avenue Capital Partners, was represented by Luke Walker, Dave Carder and Eric Schultz of CBRE’s Phoenix office.

October 9, 2014

California Industrial Western

KTR Capital Buys Seven Properties in Hayward Corporate Center

by Nellie Day October 9, 2014

HAYWARD, CALIF. — KTR Capital Partners has acquired seven out of the eight buildings comprising the Hayward Corporate Center for an undisclosed sum. The high-tech R&D/flex space is located at 29902-20991 Cabot Blvd. in Hayward. The transaction contains a total of 208,420 square feet. The unnamed seller was represented by Steve Hermann and Robert Gilley of Cassidy Turley.

October 9, 2014

California Restaurant Retail Western

Fogo de Chao Leases Space in Downtown LA

by Nellie Day October 9, 2014

LOS ANGELES — Fogo de Chao has signed a 15-year lease for 7,414 square feet in Downtown Los Angeles. The Brazilian steakhouse will be located at 800 S. Figueroa Street in the city’s Financial District. It will be situated across the street from the FIGat7th open-air shopping mall. The lease is valued at $6.2 million. The space was previously occupied by Roy’s Hawaiian Fusion. It is currently undergoing tenant improvements. Fogo de Chao is hoping to open in the fourth quarter of this year, in time for the holiday season. The restaurant was represented by Sierra Commercial Real Estate. The landlord, 800 Fig Verona Corp., was represented by Derrick Moore of Avison Young.

October 9, 2014

California Retail Western

Los Gatos Retail Property Sells for $6.1M

by Nellie Day October 9, 2014

LOS GATOS, CALIF. – A 12,800-square-foot retail property in Los Gatos has sold to a limited liability company for $6.1 million. The property is located at 102 South Santa Cruz Ave. It was built in 1974. Notable tenants at the property include 101 Broadway and The Spa. The LLC was represented by Anh Stovall, J.J. Taughinbaugh and Yuri Sergunin of Marcus & Millichap’s Palo Alto office.

October 9, 2014

California Retail Western

San Diego Retail Building Sells for $2.7M

by Nellie Day October 9, 2014

SAN DIEGO – A 9,945-square-foot retail property in San Diego has sold to Howard Park of 1999 Park Family Trust for $2.7 million. The property is located at 7763-67 Balboa Ave. The space was originally built for Color Tile, which occupied the property for more than 20 years. The new owner, which also owns T-Shirt Mart and several related retail stores, will upgrade the property. The trust plans to occupy about 60 percent of the space.

October 9, 2014

Colorado Office Western

Charles Schwab Opens New 650,000 SF Campus in Lone Tree

by Nellie Day October 8, 2014

LONE TREE, COLO. – Charles Schwab has opened its 650,000-square-foot office campus in Lone Tree. The property will serve as the brokerage and banking company’s corporate campus. The campus is located at 9800 Schwab Way within the RidgeGate community. The new property will also house Schwab’s retail building that’s on the corner of Lincoln Avenue and Park Meadows Boulevard. It is one of four branches in the Denver area. The campus contains three five-story office buildings, a two-story retail branch, two parking garages and an amenities building that features a 15,000-square-foot employee dining facility. So far, about 70 percent of the campus has been completed. Two of the three office buildings are ready for occupancy. The third is scheduled for completion next summer. Schwab plans to move about 2,000 employees to its campus over the next year and a half. Construction on the campus began in March 2013. It was built by Mortenson Construction and designed by Fentress Architects. Schwab is pursuing LEED-Platinum certification on the campus. Sustainability features include a two-acre green roof, green materials, daylighting, water-saving devices and an optimized HVAC system.

October 8, 2014

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