EL SEGUNDO, CALIF. — Newmark has brokered the sale of a research-and-development (R&D) office facility in El Segundo, located just south of Los Angeles International Airport. Hackman Capital Partners sold the property, which is fully leased to electric vehicle manufacturer Rivian on a triple-net basis, to Majestic Asset Management for $27.2 million, or $480 per square foot. Situated on 2.1 acres at 401 Coral Circle, the 56,815-square-foot facility features 24-foot clear heights, six dock-high doors, 3,000 amps of power, a car wash and 110 parking stalls. Originally built in 1967 and renovated in 2020, the property serves as both a customer-facing service center and a highly secure R&D facility, supporting Rivian’s consumer and commercial vehicle lines. Kevin Shannon, Rob Hannan, Ken White, Laura Stumm, Micheal Moll, Ryan Plummer, Andrew Briner and Aaron Banks of Newmark represented the seller in the deal. Blake Thompson and Travis Bailey, also with Newmark, provided support on the debt strategy and financing consideration throughout the transaction process.
LOS ANGELES — Priority Capital Advisory has arranged a $13.6 million bridge loan for the refinancing of a student housing and multifamily property located at 8833 Reading Ave. in Los Angeles’ Westchester neighborhood. The owner is a joint venture between Six Peak Capital and Grandview Partners. Completed in April 2025, the five-story property features 33 one-, two-, three-, four- five- and six-bedroom apartments and a 25-space subterranean parking level. Units feature stainless steel appliances, quartz countertops, vinyl plank and tile flooring, walk-in closets and washers/dryers. Community amenities include a rooftop deck with barbecues and a clubhouse with a kitchen, as well as automated package lockers. The property is currently 88 percent occupied, with approximately 50 percent of the units leased to students. Additionally, three units are covenanted for very low-income households and two units covenanted for extremely low-income households.
LOVELAND, COLO. — Vantage Communities has sold Vantage at Loveland, an apartment community located just south of Fort Collins. The buyer was JB Matteson, and the sales price was undisclosed. Greg Parker and Jason Hornick of Marcus & Millichap represented the seller and procured the buyer in the deal. Completed in 2024, Vantage at Loveland features 288 apartments, a resort-style pool, clubhouse, fitness center and an outdoor recreation areas. Apartments offer washers and dryers, walk-in closets, kitchen islands and yards.
BENICIA, CALIF. — CBRE has brokered the $87.5 million sale of a nine-building industrial portfolio in Benecia, part of the San Francisco Bay Area. NorthPoint Development purchased the buildings, which are located within Benicia Industrial Park, and include Benicia Commerce Center I and II at 6200-6850 Goodyear Road and Benicia Industrial Way at 5301-5341 Industrial Way. At the time of sale, the portfolio was fully leased to 19 tenants that have occupied space at the park for an average of nearly 15 years. The tenant roster is subject to below-market rents, staggered lease expirations and a weighted average lease term of roughly 3.4 years, according to the deal term. Rebecca Perlmutter and Brian Russel of CBRE National Partners West, along with Tony Binswanger, Bo Harkins and Brooks Pedder of CBRE’s Walnut Creek, Calif., office represented the seller in the deal. Steve Roth, Val Achtemeier and David Milestone of CBRE Capital Markets’ Debt & Structured Finance arranged the buyer’s financing.
ISSAQUAH, WASH. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $37 million sale of Vista Ridge Apartments, a multifamily property in Issaquah, located east of Seattle. The sales price equates to $406,593 per unit. Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino of IPA represented the buyer and seller, both of which requested anonymity, in the deal. Brian Eisendrath, Cameron Chalfant, Jake Vitta and Ray Allen, also with IPA, arranged acquisition financing for the buyer. Vista Ridge Apartments features 91 two – and three-bedroom units averaging 1,106 square feet, as well as an outdoor heated pool, indoor spa and sauna, fitness center and a fenced dog park.
SAN JOSE, CALIF. — Boston-based Rockpoint and Holland Partner Group have entered into a joint venture to develop Stevens Creek, a multifamily property that will be located at 2896 Stevens Creek Blvd. in West San Jose. Financial terms of the transaction were not disclosed. Scheduled for completion in 2029, Stevens Creek will feature 311 apartments and 6,000 square feet of ground-floor retail space. Units will offer stainless steel appliances, solid-surface countertops, in-unit washers and dryers and luxury vinyl tile flooring. Community amenities will include a resort-style pool, landscaped courtyard, resident lounge, fitness center and a coworking lounge.
TORRANCE, CALIF. — CBRE has arranged the $21 million sale of Tournament Patio Apartments in the Southern California city of Torrance. JS Bower Foundation sold the property to Good Capital Group. Situated on 1.7 acres at 4111 W. 239th St., Tournament Patio Apartments features 60 apartments with an average units size of 1,023 square feet. The two-story, garden-style property was built in 1963. Derrek Ostrzyzek, Anna Kampling, Rachel Parsons, Kenji Thomas and Mike Murphy of CBRE represented the seller in the deal.
ORO VALLEY, ARIZ. — Venture West Group has sold Innovation Park, a 333-acre master-planned business park in Oro Valley, to Bourn Cos. for $21.2 million. Robert Glaser, Richard Kleiner, Greg Furrier, Alexis Corona and Natalie Furrier of Cushman & Wakefield | PICOR represented the seller in the transaction. Kate Zimmerman, also with Cushman & Wakefield | PICOR, supported the transaction. Located at the northwest corner of Oracle and Tangerine roads, the business park is home to a variety of tenants, including Roche Tissue Diagnostics, the University of Arizona Center for Innovation at Oro Valley and Oro Valley Hospital.
NORTH LAS VEGAS, NEV. — ALPLA, a global plastics manufacturer and recycler, has signed a 141,540-square-foot industrial lease at Building A within Craig Road Logistics Center in North Las Vegas. The Class A industrial facility is located at 4340 N. Nellis Blvd., a former Walmart Supercenter, and will support ALPLA’s continued growth in the Las Vegas market. Building A features 32-foot clear heights, ESFR sprinkler systems, LED warehouse lighting, 52-foot by 60-foot column spacing, 18 dock-high doors, two grade-level doors, 151 auto parking spaces and 2,535 square feet of office space with separate office and shop restrooms. Jason Simon and Rob Lujan of JLL’s Las Vegas office represented the landlord, Rockefeller Group, in the lease negotiations, while Daniel Wilkins, Lou Hall and Donna Alderson of Cushman & Wakefield represented ALPLA. Lee & Sakahara Architects designed the project. TWC Construction served as general contractor, and Taney Engineering served as civil engineer.
TEMECULA, CALIF. — Progressive Real Estate Partners has brokered the $6.5 million sale of a multi-tenant retail building located within Vail Ranch Plaza in the Southern California city of Temecula. Greg Bedell of Progressive represented the buyer, a Los Angeles-based private investor, in the transaction. Brian Bielatowicz, Ryan Bennett and Drew Olson of Lee & Associates represented the seller, another private investor. The 8,781-square-foot retail building was fully leased at the time of sale to tenants including Better Buzz Coffee, Orangetheory Fitness, Krak Boba and D’Or Nail Lounge. Vail Ranch Plaza is an open-air shopping center that is anchored by Sprouts Farmers Market, PetSmart and EOS Fitness.