Western

Opus Breaks Ground on 188,054 SF Spec Industrial Facility in Centennial, Colorado

by Amy Works May 6, 2025

CENTENNIAL, COLO. — Opus has broken ground on Catalyst Industrial, a Class A speculative industrial development in Centennial. Situated on 14.3 acres at 15030 E. Fremont Drive, Catalyst Industrial will offer 188,054 square feet of space. Designed to accommodate up to six tenants, the building can be divided into units as small as 21,000 square feet. The asset will feature a clear height of 32 feet, 28 truck doors, six drive-in dock doors and parking for 268 vehicles. Opus is the developer, design-builder, architect and structural engineer of record on the project, which is slated for completion in early first-quarter 2026. Todd Witty and Daniel Close of CBRE will market the facility for lease.

May 6, 2025

California Loans Restaurant Retail Western

JLL Arranges $21.5M in Refinancing for Juanita Tate Marketplace in Los Angeles

by Amy Works May 6, 2025

LOS ANGELES — JLL Capital Markets has arranged $21.5 million in refinancing for Juanita Tate Marketplace, a grocery-anchored retail center in Los Angeles. Optimus Properties received the five-year loan through institutional investors advised by J.P. Morgan Asset Management. Alex Olson and Daniel Skerrett of JLL Capital Market’s Debt Advisory represented the borrower in financing. Located at the corner of East Slaunson and East Central avenues, Juanita Tate Marketplace offers 77,096 square feet of retail space, 55 percent of which is occupied by Northgate Market. CVS, Panda Express, Starbucks Coffee and Chase Bank are tenants at the fully occupied retail center, which was built in 2014.

May 6, 2025

Acquisitions Industrial Loans Utah Western

Gantry Secures $13.5M Acquisition Loan for Industrial Building in Salt Lake City

by Amy Works May 6, 2025

SALT LAKE CITY — Gantry has secured a $13.5 million permanent loan for the purchase of an industrial property located at 485 N. Jimmy Doolittle Road in Salt Lake City. Situated on 9.4 acres, the asset offers 148,263 square feet of Class A industrial space, a clear height of 32 feet, four drive-in bays, 29 exterior dock doors, 198 parking spaces and ample trailer storage space. The property is fully leased to two tenants. Mike Wood, Ben Johnson and Tim Brown of Gantry’s Seattle production office represented the borrower, a private real estate investor. The six-year, fixed-rate loan was provided by one of Gantry’s insurance company correspondent lenders and features full-term interest-only payments with prepayment flexibility.

May 6, 2025

Acquisitions Arizona Industrial Western

Camblin Steel Service Sells 20,400 SF Industrial Facility in Phoenix to Capitol Engineering

by Amy Works May 6, 2025

PHOENIX — Camblin Steel Service has completed the disposition of a freestanding industrial property in Phoenix to Capitol Engineering Inc., an owner/occupier, for $13 million. The buyer will relocate to the facility, which is situated on 11 acres at 1945 W. Broadway Road. Phil Haenel, Will Strong, Foster Bundy and Katie Repine of Cushman & Wakefield’s Private Capital Group in Phoenix, in partnership with Bryce MacDonald of the firm’s Sacramento office, represented the seller. Will Groves of Cushman & Wakefield’s Phoenix office represented the buyer in the deal. The 20,400-square-foot building features 14,400 square feet of flex space, 6,000 square feet of office space, four open production/manufacturing bays with overhead shelter and several overhead Kone Cranes. The property was initially built in 2005, with two of the bays constructed in 2013 and 2014. The warehouse features durable concrete tilt-up construction, ample parking for trucks and vehicles and a perimeter of secure fencing. The facility was formerly used as a state-of-the-art structural steel fabrication facility.

May 6, 2025

California Industrial Market Reports Western Western Market Reports

Los Angeles’ Industrial Market Offers Users Compelling Opportunities

by John Nelson May 6, 2025

— By Patrick Barnes of Avison Young — The Los Angeles industrial property market has experienced increasing space availability and shifting tenant priorities over the past several quarters. Due to concerns about potential labor strikes at East and Gulf Coast ports, the anticipated surge in short-term sublease demand failed to materialize in the fourth quarter of 2024. Additionally, with a labor contract agreement reached in January, any lingering expectations that rerouted shipments would continue to bolster West Coast activity have largely dissipated. Despite a 21.7 percent year-over-year increase in TEU (twenty-foot equivalent unit) volume from 2023 to 2024, sublease availability has risen significantly as TEU tenants have either warehouse capacity or shipments leaving the region by rail. Companies today are reassessing their space needs, focusing on cost savings and operational optimization rather than expansion to deal with inflation and tariffs. Sublease space increased by 12.8 percent quarter over quarter, reaching 11.2 million square feet and pushing the overall availability rate to 9.3 percent. These changes have also led to a drop in industrial rental rates. After peaking at $1.97 per square foot in 2023, average rents have fallen 26.4 percent to $1.45 per square foot in fourth-quarter 2024. However, Class …

May 6, 2025

Arizona Development Hospitality Mixed-Use Multifamily Restaurant Retail Western

Thompson Thrift Breaks Ground on $225M Mixed-Use Development in Gilbert, Arizona

by Amy Works May 5, 2025

GILBERT, ARIZ. — Thompson Thrift has broken ground on The Gilmore, a $225 million mixed-use development located in the Phoenix suburb of Gilbert. The 35-acre project will comprise approximately 200,000 square feet of grocery, restaurant and retail space, 300 luxury apartment homes and a hotel. The development will feature a main street-style entrance with covered walkways, common areas, murals by local artists and landscaped outdoor gathering spaces. More than 25 retail leases have already been signed, including Better Buzz Coffee; Handel’s Ice Cream; Jersey Mike’s; Sweathouz; Rebel Wine Lounge; Square 1 Food Hall; Nook Kitchen; Phantom Fox Brewery; Level 1 Arcade Bar; Woof Gang Bakery & Grooming; Over Easy; and a 64,000-square-foot Safeway. Retailers are expected to begin opening in late 2026, while the first resident move-ins are planned for early 2027.

May 5, 2025

Acquisitions Arizona Lee & Associates Retail Western

Desert Troon Divests of Superstition Gateway Shopping Center in Mesa, Arizona for $121M

by Amy Works May 5, 2025

MESA, ARIZ. — Desert Troon Cos. (DT-SGE LLC and DT-SGW LLC) has completed the disposition of Superstition Gateway Shopping Center to an undisclosed Southern California-based family office for $121 million, or $244 per square foot. Jan Fincham, Mike Sutton and Brent Moser of Lee & Associates Arizona represented the seller in the off-market transaction. The seller was part of the original development partnership that built the shopping center almost 20 years ago. Situated on 65.7 acres at the southwest corner of US-60 and Signal Butte Road, Superstition Gateway offers 495,000 square feet of retail space, totaling 19 individual parcels. Current tenants at the 90 percent-occupied center include Super Walmart, Kohl’s, AMC Theatres, LA Fitness, Total Wine & More, Ross Dress for Less, Marshalls, Five Below, PetSmart, Panera Bread, KFC, In-N-Out Burger and Chili’s. The asset was constructed in 2006 and 2012.

May 5, 2025

California Development Industrial Western

C2 Building Group Completes 380,000 SF Manufacturing Facility for GKN Aerospace in El Cajon, California

by Amy Works May 5, 2025

EL CAJON, CALIF. — Construction is complete for Gillespie Field iPark, a build-to-suit manufacturing facility for GKN Aerospace and distribution speculative suite near Gillespie Field public airport in El Cajon. The project’s development team includes Ware Malcomb as architect, interior designer and civil engineer; Chestnut Properties as developer; C2 Building Group as general contractor; Prime Engineering as structural engineer; Ridge Landscaping as landscape architect; and NV5 as utility consultant. GKN Aerospace is a global tier-one suppler of aftermath repairs, airframe and engine structures, landing gear, electrical interconnection systems and transparencies. The 380,000-square-foot facility features a two-story lobby, mezzanine, conference rooms, break areas, technical labs and climate-conditioned manufacturing warehouse.

May 5, 2025

Acquisitions California Retail Western

SRS, Hanley Investment Group Broker $4.7M Sale of Plumas Bank-Occupied Retail Property in Susanville, California

by Amy Works May 5, 2025

SUSANVILLE, CALIF. — SRS Real Estate Partners and Hanley Investment Group Real Estate Advisors have arranged the sale of a retail property located at 3000 Riverside Drive in Susanville. A private investment group sold the asset to a San Diego-based private investor for $4.7 million. Plumas Bank occupies the 5,440-square-foot property under a new 15-year, absolute, corporate-guaranteed triple-net lease. Situated on 1.1 acres, the property was renovated in 2021. Alexander Moore of SRS Capital Markets and Jeff Lefko of Hanley Investment Group represented the seller in the transaction.

May 5, 2025

Acquisitions Arizona Western

Coral Sea Acquires 5,584 SF Industrial Space in Tucson, Arizona

by Amy Works May 5, 2025

TUCSON, ARIZ. — Coral Sea LLC has purchased 5,584 square feet of industrial space at 3101, 3125 and 3141 E. Ajo Way in Tucson from PMC Revocable Trust and Vista Pacifica Properties for $1 million. Paul Hooker of Cushman & Wakefield | PICOR represented the buyer, while Jeramy Price of Volk Co. represented the seller in the deal.

May 5, 2025

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