PHOENIX — Mountain Vista Commerce Center in Phoenix has sold to Aspen Capital Partners for $11.3 million. The three-building, 134,713-square-foot industrial complex is located at 14647 S. 50th Street. It was built in 1999 and was 93 percent leased at the time of sale. Dan Calihan, Pat Feeney, Joe Porter and Rusty Kennedy of CBRE’s Phoenix office represented both the buyer and the seller, BSP Mountain Vista LLC, in this transaction.
Western
PEORIA, ARIZ. — The 100-unit Sonoma Place in Peoria has sold to Investment Property Exchange Services for $6.5 million. The community is located at 11600 N. 75th Ave. in Greater Phoenix. It was built in 1985. Bill Hahn, Jeffrey Sherman and Trevor Koskovich of Colliers’ HSK Multifamily team represented both the buyer and the seller, Mentor Properties, in this transaction.
COTTAGE GROVE, ORE. – A Walgreens in Cottage Grove has received a $4.1-million loan. The Walgreens is located at 1704 E. Main Street, south of Eugene. The fixed-rate, non-recourse loan carries a 10-year term and a 30-year amortization schedule. It was secured by Cathy Bronkema of Cohen Financial through a national bank. The transaction was part of a 1031 exchange.
FAIRFIELD, CALIF. – A 60,000-square-foot warehouse/distribution facility in Fairfield has sold to DBI Properties for an undisclosed sum. The building is located at 2449 S. Watney Way. DBI Properties is the real estate entity of DBI Beverage, Inc., a national beer distributor. The company plans to use this location for distribution. It was represented by Tim Schmid and Trevor Buck of Cassidy Turley. The seller, Watney D&S, was represented by Matt Bracco, Glen Dowling and Chris Neeb of Cushman & Wakefield’s Marin/North Bay & Walnut Creek offices.
LAS VEGAS – The $43-million expansion of the United Brotherhood of Carpenters (UBC) and Joiners of America International Training Center has been completed in Las Vegas. The facility now includes a 220,000-square-foot building that will provide a variety of training resources for UBC members. The new facility includes shop space, more than 30 classrooms, two large meeting halls, and a display area and museum. The center now boasts a total of 365,000 square feet. The center’s expansion began in September 2012. An opening ceremony is scheduled for early next year. Construction was completed by the PENTA Building Group. Many UBC members, who were trained by the Carpenters International Training Fund, contributed to this project. The center provides in-depth training to regional instructors and union members in the U.S. and Canada. The United Brotherhood of Carpenters contains nearly 500,000 members and more than 200 training centers across North America. The facility originally opened in 2001.
LAKEWOOD, WASH. – The 254-unit Echelon Apartments in Lakewood has received a $28.5-million refinance. The townhouse-style community is located at 101 88th Street Court SW just southwest of Tacoma. It was built in 2009. The loan was provided by Ed Belz of Berkeley Point. Financing was structured under the FHA 223(a)(7) program, which allows existing, qualifying FHA loans to be refinanced. The property is owned by Lakewood Project, LLC.
FLAGSTAFF, ARIZ. – A single-tenant, triple-net leased asset in Flagstaff has sold to a private investor for $7.2 million. The asset is located at 9147 West Route 66 on 7.52 acres. It is fully leased to Camping World through 2024. The acquisition was part of a 1031 tax-deferred exchange. The private client was represented by Paul Lafrenz and Melissa Foster of CBRE San Diego Commercial Private Capital Group. The Arizona purchase was completed in conjunction with Andrew Fosberg of the CBRE Phoenix Private Capital Group.
LAS VEGAS – The $43-million expansion of the United Brotherhood of Carpenters (UBC) and Joiners of America International Training Center has been completed in Las Vegas. The facility now includes a 220,000-square-foot building that will provide a variety of training resources for UBC members. The new facility includes shop space, more than 30 classrooms, two large meeting halls, and a display area and museum. The center now boasts a total of 365,000 square feet. The center’s expansion began in September 2012. An opening ceremony is scheduled for early next year. Construction was completed by the PENTA Building Group. Many UBC members, who were trained by the Carpenters International Training Fund, contributed to this project. The center provides in-depth training to regional instructors and union members in the U.S. and Canada. The United Brotherhood of Carpenters contains nearly 500,000 members and more than 200 training centers across North America. The facility originally opened in 2001.
LAKEWOOD, WASH. – The 254-unit Echelon Apartments in Lakewood has received a $28.5-million refinance. The townhouse-style community is located at 101 88th Street Court SW just southwest of Tacoma. It was built in 2009. The loan was provided by Ed Belz of Berkeley Point. Financing was structured under the FHA 223(a)(7) program, which allows existing, qualifying FHA loans to be refinanced. The property is owned by Lakewood Project, LLC.
FLAGSTAFF, ARIZ. – A single-tenant, triple-net leased asset in Flagstaff has sold to a private investor for $7.2 million. The asset is located at 9147 West Route 66 on 7.52 acres. It is fully leased to Camping World through 2024. The acquisition was part of a 1031 tax-deferred exchange. The private client was represented by Paul Lafrenz and Melissa Foster of CBRE San Diego Commercial Private Capital Group. The Arizona purchase was completed in conjunction with Andrew Fosberg of the CBRE Phoenix Private Capital Group.