BOTHELL, WASH. — Canyon Park Highlands II and III, a pair of life science research/office buildings in Bothell, have sold to Senior Housing Properties Trust for $38 million. The 144,900-square-foot properties are located on 30thDrive about 20 miles northeast of Seattle. The buildings serve as the headquarters of Seattle Genetics, one of the city’s largest biotechnology companies. The seller, Washington Capital Management Inc., was represented by Lori Hill,Stuart WilliamsandAnn Chamberlinof Jones Lang LaSalle’s Capital Markets team and Daniel SegerandMark Flippo, leasing and market specialists with the firm.
Western
BOTHELL, WASH. – The 524-unit Northcreek Apartments in Bothell has sold to Grosvenor Americas for an undisclosed sum. The community is located at 11401 3rd Ave. about 20 miles northeast of Seattle. The seller was represented by Pete Shelton and Kim Grant of Cushman & Wakefield.
PHOENIX – The 30-unit Indigo multifamily community in the Phoenix submarket of Ahwatukee has sold to Goodman Real Estate for $4.2 million. The fractured Class A condominium is located at 16160 S. 50th Street. Though 17 of Indigo’s units had previously sold as condos, the new owner plans to pursue these assets as well. The community can also hold an additional 78 units, which Goodman plans to develop soon. The seller, Sabal Financial Group, was represented byJohn Cunninghamand Charles Steeleof the Jones Lang LaSalle Phoenix Capital Markets Team.
LOS ANGELES — Premier Business Centershas leased the 12th floor at The Wilshire Landmark I building in the Los Angeles submarket of Brentwood. The building is located at 11755 Wilshire Blvd. The office space and executive suites operator will occupy 28 executive suites and office spaces, two meeting rooms, a kitchen, business lounge and reception area.
BOTHELL, WASH. — Canyon Park Highlands II and III, a pair of life science research/office buildings in Bothell, have sold to Senior Housing Properties Trust for $38 million. The 144,900-square-foot properties are located on 30th Drive about 20 miles northeast of Seattle. The buildings serve as the headquarters of Seattle Genetics, one of the city’s largest biotechnology companies. The seller, Washington Capital Management Inc., was represented by Lori Hill, Stuart Williams and Ann Chamberlin of Jones Lang LaSalle’s Capital Markets team and Daniel Seger and Mark Flippo, leasing and market specialists with the firm.
BOTHELL, WASH. – The 524-unit Northcreek Apartments in Bothell has sold to Grosvenor Americas for an undisclosed sum. The community is located at 11401 3rd Ave. about 20 miles northeast of Seattle. The seller was represented by Pete Shelton and Kim Grant of Cushman & Wakefield.
PHOENIX – The 30-unit Indigo multifamily community in the Phoenix submarket of Ahwatukee has sold to Goodman Real Estate for $4.2 million. The fractured Class A condominium is located at 16160 S. 50th Street. Though 17 of Indigo’s units had previously sold as condos, the new owner plans to pursue these assets as well. The community can also hold an additional 78 units, which Goodman plans to develop soon. The seller, Sabal Financial Group, was represented byJohn Cunningham and Charles Steele of the Jones Lang LaSalle Phoenix Capital Markets Team.
LOS ANGELES — Premier Business Centers has leased the 12th floor at The Wilshire Landmark I building in the Los Angeles submarket of Brentwood. The building is located at 11755 Wilshire Blvd. The office space and executive suites operator will occupy 28 executive suites and office spaces, two meeting rooms, a kitchen, business lounge and reception area.
The San Diego retail market has always been one of the strongest markets in the nation with respect to commercial real estate indicators. Many regions greatly affected by the housing downturn like Las Vegas and Phoenix are still experiencing double-digit retail vacancy rates, while San Diego ended 2012 with an overall vacancy rate of 7.1 percent. Even the overall availability rate dropped to 9.5 percent, down from 9.7 percent last quarter and 10.6 percent at the end of fourth quarter 2011. Since the beginning of 2012, both power centers and community centers have outperformed the rest of the market. Vacancy rates came in at 2.4 percent and 6.1 percent, respectively, with both rates representing decreases compared to last quarter and last year. Net absorption for these two products accounted for about 82 percent of the total activity in 2012. Other center types, such as specialty centers and strip centers, have experienced mixed results throughout the year. The drop in vacancy rates can primarily be attributed to basic supply and demand. Many sectors of the retail market are becoming more creative and took advantage of market conditions during the downturn. Discount retailers are expanding in Southern California as Wal-Mart, Dollar Tree …
SANTA CLARA, CALIF. – Nvidia has announced plans to expand its Santa Clara campus by adding a new 500,000-square-foot office building. The project will be developed in two phases, with the first phase commencing in June. It will be built on the south side of a24-acre parcelthat was purchased by the visual computing technologies company in 2008. It will contain two levels of office and lab spacethat will accommodate up to 2,500 people. Nvidia’s Santa Clara operations already contains a 12-building, 1.1-million-square-foot campus. The project will be built by Webcor, designed by Gensler and managed by SRGNC CRES, LLC, a division of Sares Regis Group of Northern California.