LAS VEGAS — Northcap Commercial has brokered the sale of Nellis Gate Apartments, a multifamily property located at 4340 N. Las Vegas Blvd. in Las Vegas. Built in 2002, Nellis Gate Apartments offers 50 units. The asset traded for $4.5 million, or $90,000 per unit. Jerad Roberts, Devin Lee and Robin Willett of Northcap Commercial represented the undisclosed buyer in the deal. The name of the seller was not released.
SACRAMENTO, CALIF. — USA Properties Fund, in partnership with LDK Ventures, has completed The A.J., a $130 million mixed-income apartment property within The Railyards in Sacramento. The apartment community is named after A.J. Stevens, a community leader and legendary Southern Pacific master mechanic who worked in The Railyards in the 1870s and 1880s. Stevens oversaw the building of Southern Pacific’s locomotives and retail cars in The Railyards. Today, The Railyards is an infill development that will include live entertainment, shops and restaurants, as well as a Kaiser Permanente medical center and a new soccer stadium for Sacramento Republic FC. Located at 251 6th St., The A.J. features 345 apartments, including 69 affordable homes for residents earning 50 percent or less of the area median income, with stainless steel appliances, quartz countertops, two-tone cabinets, ceiling fans, rainfall showerheads and walk-in closets. Ground-floor apartments feature stained concrete floors while units on the other four floors will feature carpet and wood-plank floors. Apartments will also feature smart-lock access, smart thermostats and the ability to check on deliveries and visitors from screens in the units. Community amenities include a 24/7 fitness center; a sky lounge with a rooftop observation deck with fire tables, gas …
PUEBLO, COLO. — Pinnacle Real Estate Advisors has negotiated the sale of Briarwood Apartments, a multifamily property located at 2026 Carlee Drive in Pueblo. The asset sold for $5.5 million, or $91,667 per unit. The property includes 60 units, plus an onsite manager house and workshop. Briarwood Apartments features 30 one-bedroom apartments and 30 two-bedroom units. Chris Knowlton of Pinnacle handled the transaction for both the undisclosed seller and undisclosed buyer.
FRESNO, CALIF. — JLL Capital Markets has negotiated the sale of WelbeHealth-Fresno Center, an 18,869-square-foot PACE medical facility in Fresno. PACE stands for Program of All-Inclusive Care for the Elderly. Originally built in 1975, the property was renovated in 2020. The fully leased facility is part of the PACE program, providing comprehensive medical and social services to elderly individuals who are eligible for nursing home-level care but wish to continue living in their own homes. Services at WelbeHealth-Fresno Center include medical care, coordination, prescriptions, in-home care, dental, vision, hearing, transportation, physical and occupational therapy as well as social activities and meals. Matt Dicesare and Jeff Cicurel of JLL represented the seller, Turner Impact Capital’s Turner Healthcare Facilities Fund, and procured the buyer, Corum Asset Management.
TUCSON, ARIZ. — Hazen Enterprises has completed the disposition of a single-tenant medical office building located at 4881 Grant Road in Tucson. Elliot Bay Medical Properties Holdings III LLC purchased the asset for $5.5 million. Pain Institute of Southern Arizona fully occupies the 15,000-square-foot property on a long-term lease. Originally constructed in 2008 and renovated in 2024, the property includes 58 surface and 20 covered parking spaces. Travis Ives, Gino Lollio and Tyler Morss of Cushman & Wakefield’s U.S. Healthcare Capital Markets team represented the seller and Bryce Horner of Cushman & Wakefield | PICOR provided local advisory services for the deal.
WHEAT RIDGE, COLO. — Denver-based Kaufman Hagan Commercial Real Estate has arranged the sale of an office building located at 6073 W. 44th Ave. in Wheat Ridge. The asset traded for $1.8 million, or $117.49 per square feet. The 15,321-square-foot building offers 13 office suites. Amanda Weaver and Alejandro Martinez of Kaufman Hagan represented the undisclosed seller in the deal. The name of the buyer was not released.
MANHATTAN BEACH, CALIF. AND NEW YORK CITY — Global investment firm 3G Capital has entered into an agreement to acquire footwear retailer Skechers USA Inc. (NYSE: SKX). The sales price is $9.4 billion, according to The Wall Street Journal. Upon completion of the transaction, Skechers will become a privately held company. New York City-based private equity firm 3G will pay $63 per share in cash, representing a premium of 30 percent to Skechers’ 15-day, volume-weighted average stock price. The transaction also includes the option for existing shareholders of Skechers to instead receive $57 in cash and one unlisted, non-transferrable equity unit in the newly formed company. Founded more than 30 years ago in Manhattan Beach, Calif., Skechers maintains $9 billion in annual sales and is the third largest footwear company in the world. There are more than 5,300 Skechers retail stores worldwide that sell clothing, shoes and accessories at affordable prices. Skechers says the new private company will continue to execute its ongoing strategic initiatives, including the design of innovative products, international development, direct-to-consumer expansion, domestic wholesale growth and strategic investments in global distribution, infrastructure and technology. The Skechers board of directors unanimously approved the sale. Skechers will continue to be …
SAN DIEGO AND ENCINITAS, CALIF. — Raintree Partners is investing more than $225 million in the San Diego housing market with the development of three Class A multifamily communities. Totaling 498 units, the properties include Treehouse and Flora + Fauna in San Diego’s Bankers Hill neighborhood and Dos Lunas in Encinitas. Currently under construction, the eight-story, 115,453-square-foot Treehouse is located at 2525 1st Ave. in San Diego’s Bankers Hill district. The 107-unit community will feature studio, one- and two-bedroom floor plans, a fitness center and sauna, a Zen spa deck and a roof deck with outdoor dining and lounge space with ocean and bay views and an herb garden adjacent to an outdoor kitchen/garden zone. The asset is slated for completion in November. BDE is serving as architect and ECON Construction is serving as contractor. Flora + Fauna, located at 411 Ivy St. in San Diego’s Bankers Hill, will encompass 115,453 square feet spread across two buildings featuring six levels. The property will offer a sauna, spa and cold plunge, a coworking lounge and a roof deck with ocean and city views. Slated for completion in mid-2026, the community will offer 189 studio, one-, and two-bedroom floor plans, as well as …
CENTENNIAL, COLO. — Opus has broken ground on Catalyst Industrial, a Class A speculative industrial development in Centennial. Situated on 14.3 acres at 15030 E. Fremont Drive, Catalyst Industrial will offer 188,054 square feet of space. Designed to accommodate up to six tenants, the building can be divided into units as small as 21,000 square feet. The asset will feature a clear height of 32 feet, 28 truck doors, six drive-in dock doors and parking for 268 vehicles. Opus is the developer, design-builder, architect and structural engineer of record on the project, which is slated for completion in early first-quarter 2026. Todd Witty and Daniel Close of CBRE will market the facility for lease.
LOS ANGELES — JLL Capital Markets has arranged $21.5 million in refinancing for Juanita Tate Marketplace, a grocery-anchored retail center in Los Angeles. Optimus Properties received the five-year loan through institutional investors advised by J.P. Morgan Asset Management. Alex Olson and Daniel Skerrett of JLL Capital Market’s Debt Advisory represented the borrower in financing. Located at the corner of East Slaunson and East Central avenues, Juanita Tate Marketplace offers 77,096 square feet of retail space, 55 percent of which is occupied by Northgate Market. CVS, Panda Express, Starbucks Coffee and Chase Bank are tenants at the fully occupied retail center, which was built in 2014.
