Western

Matthews Real Estate Brokers $17.7M Sale of Mary’s Vineyard Shopping Center in Visalia, California

by Amy Works August 22, 2024

VISALIA, CALIF. — Matthews Real Estate Investment Services has arranged the sale of Mary’s Vineyard, a retail center located at 1305-1699 E. Noble Ave. in Visalia, a city in the San Joaquin Valley between Los Angeles and the Bay Area. Argonaut Investments, a privately held investment firm, acquired the asset from an undisclosed seller for $17.7 million. Situated on 16.5 acres, Mary’s Vineyard features 151,615 square feet and 28 tenants, including restaurants, grocery stores and drug stores. The retail center was developed in 1989. Carter Hamilton and Matt LoPiccolo of Matthews Real Estate Investments represented the seller and buyer in the deal.

August 22, 2024

Acquisitions Arizona Industrial Western

KoMiCo Acquires 125,000 SF Manufacturing Facility in Mesa, Arizona

by Amy Works August 22, 2024

MESA, ARIZ. — Austin, Texas-based KoMiCo Phoenix LLC, a company that offers semiconductor cleaning and coating services, has purchased a manufacturing facility at 7300 E. Hampton Ave. in Mesa. Tempe-based 7300 East Hampton LLC sold the property for $17.5 million. KoMiCo will redevelop the 125,000-square-foot facility into an advanced semiconductor equipment parts cleaning, coating and repair facility in the Superstition Springs area of the Southeast Valley. The facility, which is situated on 12.5 acres, is slated to be operational by 2026. Representing a more than $50 million in capital investments, the building will be KoMiCo’s third location in the United States and eighth globally. Rick Foss, Isy Sonabend and Drew Eisen of NAI Horizon represented the buyer, while Lee & Associates represented the seller in the transaction.

August 22, 2024

Acquisitions California Office Western

RGP Sells 57,301 SF Office Building in Irvine, California to Municipal Owner-User

by Amy Works August 22, 2024

IRVINE, CALIF. — RGP has completed the disposition of 17101 Armstrong, an office building in the Orange County city of Irvine. A municipal owner-user purchased the asset for $13 million. The two-story, low-rise building features 57,301 square feet of office space and 167 parking stalls. The property was built in 1982 on 2.4 acres. Anthony DeLorenzo, Sammy Cemo, Bryan Johnson and Carter Haslam of CBRE represented the seller in the deal.

August 22, 2024

Acquisitions California Industrial Office Western

RPG, Steel Peak Purchase San Diego Office Property for $12.1M, Plan Industrial Outdoor Storage Conversion

by Amy Works August 22, 2024

SAN DIEGO — A joint venture between RPG and Steel Peak has acquired 9606 Aero Drive, a 38,704-square-foot flex office property in San Diego. Total consideration for the acquisition was $12.1 million, which the joint venture’s institutional equity partner supported. The undisclosed seller will continue to occupy the asset as its headquarters through 2025 as part of a leaseback agreement. Situated on 4.2 acres, the asset includes existing office space and a vacated data center that will be converted into warehouse space with multiple grade-level loading doors, creating a Class A industrial outdoor storage facility. Additional improvements to the property will include fencing, lighting and paving. Kurtis Blanchard and Evan McDonald of Colliers represented the buyers in the deal.

August 22, 2024

Acquisitions Industrial Self-Storage Utah Western

Marcus & Millichap Arranges Sale of 64,500 SF Vault Storage Facility in Ogden, Utah

by Amy Works August 22, 2024

OGDEN, UTAH — The LeClaire-Schlosser Group of Marcus & Millichap has negotiated the sale of Vault Storage, a storage facility in Ogden, approximately 35 miles north of Salt Lake City. Mountain West Self-Storage acquired the asset from the original developer for an undisclosed price. Jordan Farrer and Adam Schlosser of The LeClaire-Schlosser Group represented the seller in the deal. Located at 1506 Gibson Ave., Vault Storage consists of eight one-story buildings offering a total of 371 climate-controlled and non-climate-controlled units. The facility has all metal buildings, metal interior walls, standing seam metal roofs, roll-up doors and asphalt driveways.

August 22, 2024

Colorado Development Industrial Western

Lovett Industrial Completes 201,329 SF Broadway Logistics Center in Denver

by Amy Works August 21, 2024

DENVER — Houston-based Lovett Industrial has completed construction of Broadway Logistics Center, a speculative Class A industrial building in central Denver. Located at 6795 Broadway, the 201,329-square-foot, front-park, rear-load industrial facility features a 2,250-square-foot Class A office build-out, 32-foot clear heights, six-inch reinforced concrete slab, 204 auto parking stalls, 57 dock-high doors, 130-foot truck courts and 50 trailer parks. Drew McManus, Bryan Fry and Ryan Searle of Cushman & Wakefield in Denver are marketing the facility for lease. The asset can be leased to a single tenant or multiple tenants with divisibility down to 22,360 square feet.

August 21, 2024

Acquisitions California Industrial Western

Le Investment Group Arranges $36.6M Sale of Industrial Portfolio in Riverside, California

by Amy Works August 21, 2024

RIVERSIDE, CALIF. — Le Investment Group has arranged the sale of an industrial portfolio in Riverside, located in the Inland Empire region. The asset traded for $36.6 million, or $179.27 per square foot. Located at 1660-1880 Iowa Ave., the multi-building portfolio offers 203,939 square feet of industrial space. Le Investment Group represented the undisclosed seller in the deal. The name of the buyer was also not released.

August 21, 2024

Acquisitions California Multifamily Western

Northmarq Brokers $27.5M Sale of Apartment Portfolio in Vallejo, California

by Amy Works August 21, 2024

VALLEJO, CALIF. — Northmarq has facilitated the sale of a two-property multifamily portfolio in Vallejo, across San Pablo Bay from San Francisco. Reliant Group Management sold the portfolio to Abacus Capital Group for $27.5 million. The portfolio includes the 80-unit The Valencia, located at 1101 N. Camino Alto, and the 64-unit Valencia Terrace, located at 154 Richardson Drive. The Valencia was built in 1986 and Valencia Terrace was built in 1982. Zachary LeBeouf and Anthony Pappageorge of Northmarq’s Northern California multifamily investment sales team represented the seller in the transaction.

August 21, 2024

Civic Development Mixed-Use Nevada Restaurant Retail Western

KemperSports, City of Henderson to Build 180,000 SF Fieldhouse Facility in Nevada

by Amy Works August 21, 2024

HENDERSON, NEV. — KemperSports has partnered with the City of Henderson to build and operate West Henderson Fieldhouse, a state-of-the-art athletic and entertainment facility in Henderson, a suburb southeast of Las Vegas. Slated to open in 2026, the public-private development will include capital investment, development oversight and the long-term management of the complex by KemperSports. The 180,000-square-foot facility will feature: West Henderson Fieldhouse is expected to generate $1.5 million in annual tax revenue, $39.1 million in total economic impact annually and $10.7 million in wages and salaries, according to KemperSports.

August 21, 2024

Acquisitions California Industrial Western

Steel Peak Buys Industrial Outdoor Storage Property in Escondido, California for $3.7M

by Amy Works August 21, 2024

ESCONDIDO, CALIF. — Steel Peak has acquired an industrial outdoor storage (IOS) property, located at 2213 Meyers Ave. in the San Diego suburb of Escondido, for $3.7 million. The IOS property features an 8,000-square-foot industrial building and large, secured, fenced yard on 1.7 acres. The building features 18-foot clear heights, six oversized ground-level loading doors, abundant power and office space. Mike Erwin, Tucker Hohenstein and Hank Jenkins of Colliers San Diego represented the seller, Act Property Acquisition Partners II LLC, and the buyer in the transaction.

August 21, 2024

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