BULLHEAD CITY, ARIZ. – A five-building medical office campus is set to break ground within Bullhead City’s master-planned community of Fox Creek. The five-acre project will contain five buildings, each consisting of 7,500 square feet. A $17-million assisted living facility is scheduled to be built adjacent to the campus. The 95,300-square-foot facility, named Joshua Springs, will contain 74 assisted living units and 30 memory care beds. Brookfield Communities is developing the medical office campus, which will break ground early this year. It had previously sold the land where Joshua Springs will be developed to Strata Management. Joshua Springs will be built by Seabold Construction and designed by John Lape. The facility will break ground next month. It is scheduled for completion in the first half of 2014.
Western
SPARKS, NEV. — The Waterford Apartments, a 240-unit apartment community in Sparks, has sold to a California-based apartment investment firm for $17.1 million. The community is located at 800 Nichols Blvd. The selling group was led by Silverwing Development’s J. Carter Witt III and represented by Kenneth Blomsterberg of Marcus & Millichap.
SEATTLE — Dexter Station, a 340,000-square-foot office building, is set to begin construction in Seattle’s South Lake Union district. It will be located at 1101 Dexter Ave. Construction will commence Feb. 1, and is scheduled for completion in the first quarter of 2015. It is being developed by a joint venture between Capstone Partners and Stockbridge Capital Group. The project, which is aiming for LEED-Silver certification, will be the first speculative office development in the Puget Sound region since 2008. Dexter Station will be built by JTM Construction and designed by LMN Architects and CPL. Stuart Williams, Laura Ford and Joe Gowan of Jones Lang LaSalle will serve as the property’s leasing agents.
DENVER — MIG Real Estate, LLC has purchased the 168-unit Churchill Downs apartments in Denver for an undisclosed sum. The unnamed seller was represented by Doug Andrews, Jeff Hawks, Terrance Hunt, Shane Ozment and Jason Wine of Apartment Realty Advisors (ARA). MIG represented itself in this transaction. The property will be managed by Alliance Residential.
BULLHEAD CITY, ARIZ. – A five-building medical office campus is set to break ground within Bullhead City’s master-planned community of Fox Creek. The five-acre project will contain five buildings, each consisting of 7,500 square feet. A $17-million assisted living facility is scheduled to be built adjacent to the campus. The 95,300-square-foot facility, named Joshua Springs, will contain 74 assisted living units and 30 memory care beds. Brookfield Communities is developing the medical office campus, which will break ground early this year. It had previously sold the land where Joshua Springs will be developed to Strata Management. Joshua Springs will be built by Seabold Construction and designed by John Lape. The facility will break ground next month. It is scheduled for completion in the first half of 2014.
SPARKS, NEV. — The Waterford Apartments, a 240-unit apartment community in Sparks, has sold to a California-based apartment investment firm for $17.1 million. The community is located at 800 Nichols Blvd. The selling group was led by Silverwing Development’s J. Carter Witt III and represented by Kenneth Blomsterberg of Marcus & Millichap.
SEATTLE — Dexter Station, a 340,000-square-foot office building, is set to begin construction in Seattle’s South Lake Union district. It will be located at 1101 Dexter Ave. Construction will commence Feb. 1, and is scheduled for completion in the first quarter of 2015. It is being developed by a joint venture between Capstone Partners and Stockbridge Capital Group. The project, which is aiming for LEED-Silver certification, will be the first speculative office development in the Puget Sound region since 2008. Dexter Station will be built by JTM Construction and designed by LMN Architects and CPL. Stuart Williams, Laura Ford and Joe Gowan of Jones Lang LaSalle will serve as the property’s leasing agents.
LA JOLLA, CALIF. — In Eden, a 17-unit apartment building in La Jolla, has sold to an unnamed buyer for $8.9 million. The community is located at 600-616 Prospect Street. The seller, a limited liability company, was represented by Aaron Bove and Ben Tashakorian of Marcus & Millichap’s San Diego office. The buyer was represented by Dave Plutner of DP Properties.
TORRANCE, CALIF. – Hawthorne Promenade, a 7,440-square-foot retail property in Torrance, has sold to Ron B. Tucker for $5 million. It is located at 20016 Hawthorne Blvd. The property is fully occupied by tenants like Trader Joe’s, Ross, Marshalls, Party City, Sears Outlet, David’s Bridal, Payless Shoes, Babies-R-Us, Office Depot and In-N-Out Burger. The seller, Hawthorne Promenade LLC, a subsidiary of Arenda Capital Management, LLC, was represented by Peter J. LundandScott Craneof NAI Capital’s West Los Angeles office.
GOODYEAR, ARIZ. – The 69-unit Greenwood Apartments in Goodyear has sold to Neil Sechan and Mathew Messner for $3.4 million. The community is located at 1322 N. La Jolla Blvd. The seller, Park Shadows Country Homes, was represented by Brian Smuckler and Jeff Seaman of CBRE’s Phoenix office.