WOODLAND, CALIF. – Walmart has announced plans to open a new Walmart Neighborhood Market in Woodland. The smaller-format store will occupy a 62,000-square-foot building at 1250 E. Gibson Road about 15 miles northwest of Sacramento. The building was previously occupied by Mervyn’s at the County Fair Fashion Mall. The mall is owned by County Fair Fashion Mall, LLC and managed by Primero Management. Scott Sterlekar serves as the mall’s director of real estate and leasing.
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SAN FRANCISCO – A 21-story tower office tower located at 100 Spear Street in San Francisco has sold to Prudential Real Estate Investors for $100 million. The 203,071-square-foot building resides near Market Street in the city’s South Financial District. It was 91.5 percent leased at the time of closing. The tower has undergone a $4.5-million renovation and modernization over the past four years. The seller, Clarion Partners, was represented by HFF’sGerry Rohm, Michael Leggett and Dave Karol.
DENVER, PHOENIX — BRE Properties has sold its joint venture interests in six multifamily properties throughout Denver and Phoenix for $47.5 million. The interests were sold to the firm’s joint venture partner. The six communities included in the sale are the Bluffs at Highland Ranch; the Fairways at Raccoon Creek; Pinnacle at DTC; Pinnacle at Mountain Gate in Denver, as well as Pinnacle at Union Hills and Pinnacle Terrace in Phoenix. The sale of these communities resulted in a net gain of about $15 million. BRE is currently focused on high-quality apartment communities in targeted growth markets like California and Seattle.
WOODLAND, CALIF. – Walmart has announced plans to open a new Walmart Neighborhood Market in Woodland. The smaller-format store will occupy a 62,000-square-foot building at 1250 E. Gibson Road about 15 miles northwest of Sacramento. The building was previously occupied by Mervyn’s at the County Fair Fashion Mall. The mall is owned by County Fair Fashion Mall, LLC and managed by Primero Management. Scott Sterlekar serves as the mall’s director of real estate and leasing.
GREELEY, COLO. — Griffin-American Healthcare REIT II has acquired five medical office buildings throughout the U.S. for $47 million. The buildings are located in Greeley, Colo.; Ruston, La.; and Abilene, Tex. The REIT is co-sponsored by American Healthcare Investors and Griffin Capital Corporation. The three-building Greeley Northern Colorado Medical Office Building Portfolio was included in this transaction. The 99,000-square-foot medical office building portfolio is currently 93 percent leased to three tenants, including the University of Colorado Health. The seller of the Greeley portfolio, Concordia Company of Greeley, LLP, was represented by Craig Hau and Kyle Lundy of Sperry Van Ness.
SEATTLE – The mixed-use Shelby Apartments complex has received a $21.3-million loan. The property contains containing 98 units and 5,000 square feet of ground-floor commercial space. It is located in the Belltown section of Seattle. The 10-year, non-recourse loan was arranged by Amos Smith and Ryan Chapman of Johnson Capital’s Irvine office. Financing was provided by Fannie Mae.
AURORA, COLO. — Majestic Realty Co. has announced plans to build a 500,000-square-foot speculative industrial warehouse and distribution building at the Majestic Commercenter in Aurora. The Class A industrial property will break ground in May and is scheduled for completion by the end of the year. Once complete, this will be the largest spec building to ever be constructed in the Denver area, according to Majestic.
GREELEY, COLO. — Griffin-American Healthcare REIT II has acquired five medical office buildings throughout the U.S. for $47 million. The buildings are located in Greeley, Colo.; Ruston, La.; and Abilene, Tex. The REIT is co-sponsored by American Healthcare Investors and Griffin Capital Corporation. The three-building Greeley Northern Colorado Medical Office Building Portfolio was included in this transaction. The 99,000-square-foot medical office building portfolio is currently 93 percent leased to three tenants, including the University of Colorado Health. The seller of the Greeley portfolio, Concordia Company of Greeley, LLP, was represented by Craig Hau and Kyle Lundy of Sperry Van Ness.
SEATTLE – The mixed-use Shelby Apartments complex has received a $21.3-million loan. The property contains containing 98 units and 5,000 square feet of ground-floor commercial space. It is located in the Belltown section of Seattle. The 10-year, non-recourse loan was arranged by Amos Smith and Ryan Chapman of Johnson Capital’s Irvine office. Financing was provided by Fannie Mae.
AURORA, COLO. — Majestic Realty Co. has announced plans to build a 500,000-square-foot speculative industrial warehouse and distribution building at the Majestic Commercenter in Aurora. The Class A industrial property will break ground in May and is scheduled for completion by the end of the year. Once complete, this will be the largest spec building to ever be constructed in the Denver area, according to Majestic.