Western

Hanley Investment Group Arranges $2.8M Sale of Dutch Bros-Leased Retail Property in Riverside, California

by Amy Works August 11, 2025

RIVERSIDE, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of a single-tenant retail property located at 4990 Van Buren Blvd. in Riverside. Portland, Ore.-based developers Zach Bonsall and Braden Bernards of Cole Valley Partners sold the asset to a Long Beach, Calif.-based private investor for $2.8 million. Dutch Bros Coffee will occupy the 1,025-square-foot drive-thru building, which is currently under construction, on a 15-year absolute triple-net ground lease with 10 percent rental increases every five years. An opening date has not been announced for the location. Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller, while Mark Troughton of Whittier, Calif.-based Mark Troughton Real Estate represented the buyer in the deal.

August 11, 2025

Arizona Development Leasing Activity Mixed-Use Multifamily Restaurant Retail Top Stories Western

Partnership Receives Final Approval for $1B Mixed-Use Development in Gilbert, Arizona

by Abby Cox August 8, 2025

GILBERT, ARIZ. — A partnership between Las Vegas-based IndiCap, Salt Lake City-based Colmena Group and locally based Langley Properties has received final entitlement approval from the Town of Gilbert’s Planning Commission to begin construction for The Ranch, a proposed $1 billion mixed-use development in Gilbert. Situated near the Phoenix-Mesa Gateway Airport and Arizona State University’s Polytechnic Campus, The Ranch will span more than 295 acres and is anticipated to become Gilbert’s largest mixed-use development to date, according to the development team. The project is also expected to create roughly 6,000 jobs during construction. “This entitlement approval marks a turning point not just for The Ranch, but for Gilbert as a whole,” says Todd Ostransky, vice president of regional development at IndiCap. “This development is designed to meet the evolving needs of businesses and residents while driving sustainable economic growth in the region.” Upon full build-out of the multi-phase project, The Ranch will include a 221-acre light industrial component totaling 3 million square feet, 34 acres of retail space and 729 multifamily units across three communities. Steve Larsen of JLL is managing leasing efforts for the industrial portion of the project. Phase I of The Ranch — which is set to break ground in the fall …

August 8, 2025

Acquisitions Arizona Multifamily Western

Colliers Arranges $109.5M Sale of Country Brook Apartments in Chandler, Arizona

by Amy Works August 8, 2025

CHANDLER, ARIZ. — Colliers has arranged the $109.5 million sale of Country Brook Apartments, a multifamily property in Chandler. Cindy Cooke, Brad Cooke, Chris Roach and Matt Roach of Colliers handled the sales transaction for the undisclosed seller and undisclosed buyer. Luke Donahue and Patrick O’Donnell of Colliers Mortgage coordinated acquisition financing. Located at 4909 W. Joshua Blvd., Country Brook Apartments offers 396 units, averaging 963 square feet, spread across 32 one- and two-story buildings. Community amenities include three resort-style pools, two spas, poolside ramadas, an alfresco kitchen with outdoor TVs, a 24-hour fitness center, 24/7 access package locker and covered parking.

August 8, 2025

Acquisitions Nevada Retail Western

JLL Negotiates $46.4M Sale of Paradise Esplanade Retail Center Near Las Vegas

by Amy Works August 8, 2025

PARADISE, NEV. — JLL Capital Markets has arranged the $46.4 million sale of Paradise Esplanade, a 58,727-square-foot neighborhood shopping center located in Paradise, roughly 11 miles south of the Las Vegas Strip and adjacent to the University of Nevada-Las Vegas. CVS Pharmacy and Ferraro’s Italian Restaurant & Wine Bar anchor the two-building property, which was 89 percent leased at the time of sale. Daniel Tyner and Gleb Lvovich of JLL’s Investment Sales and Advisory team represented the private seller in the transaction. The buyer was a Los Angeles-based private family office.

August 8, 2025

Acquisitions Multifamily Washington Western

Kidder Mathews Brokers $35.2M Sale of Three-Property Multifamily Portfolio in Seattle

by Amy Works August 8, 2025

SEATTLE — Kidder Mathews has brokered the sale of a three-property apartment portfolio in Seattle. Los Angeles-based Vista Investment Group acquired the asset from long-time private owner John Stephanus for a total of $35.2 million. The portfolio includes: – Charbern Apartments, a 67-unit property located at 1705 Belmont Ave. that sold for $12.3 million. – Stockbridge Apartments, a 76-unit asset at 1330 Boren Ave. that sold for $11.5 million. – Carolina Court Apartments, a 72-unit community at 527 Eastlake Ave. that sold for $11.3 million. Dylan Simon, Jerrid Anderson, Matt Laird and JD Fuller of Simon | Anderson Multifamily at Kidder Mathews represented the seller and procured the buyer in the deal.

August 8, 2025

California Loans Multifamily Western

PSRS Secures $10M Refinancing for Los Angeles Apartment Building

by Amy Works August 8, 2025

LOS ANGELES — PSRS has arranged $10 million in refinancing for Coronado Apartments, a multifamily property in Los Angeles. The apartment building offers 33 studio, one- and two-bedroom units, underground parking and a rooftop deck. Jonny Soleimani and George Gianoukakis of PSRS secured a five-year, full-term interest-only loan through a bank execution.

August 8, 2025

Acquisitions California Industrial Western

Stos Partners Buys 39,351 SF Warehouse in Phoenix, Sells 18,000 SF Industrial Property in San Diego County

by Amy Works August 8, 2025

PHOENIX AND POWAY, CALIF. — Stos Partners has completed two industrial transactions in Phoenix and Poway. The firm acquired a 39,351-square-foot freestanding industrial building at 2229-2235 E. Magnolia St. in Phoenix for $5.2 million, or $131 per square foot. Purchased from a private investor in an off-market transaction, the vacant warehouse is situated in the Sky Harbor submarket. The building features a clear height of 24 feet, two dock-high and two grade-level doors. Stos Partners plans to reposition the property through a series of capital improvements, including roof replacement, parking lot resurfacing, HVAC upgrades, new speculative office build-out, exterior and interior painting and drought-tolerant landscaping. Parker Huston of DAUM Commercial represented Stos Partners, while Jerry Hillary of DAUM represented the seller in the deal. Stos Partners also completed the $6.5 million disposition of 12575 Stowe Drive in Poway. The firm acquired the 18,000-square-foot property in 2020 for $3.6 million and executed its business plan ahead of schedule. The asset includes a large, secured yard, 26 percent floor-area ratio, a clear height of 20 feet, four grade-level doors and two stories of office space. Tim Clepper of San Diego Commercial represented Stos Partners, while Josh West of Voit Real Estate represented the …

August 8, 2025

California Development Multifamily Seniors Housing Western

Hawthorn Senior Living Opens 149-Unit Independent Living Community Near Sacramento

by Amy Works August 7, 2025

RANCHO CORDOVA, CALIF. — Developer, owner and operator Hawthorn Senior Living has opened Bear Hollow Estates, a new independent living community located in Rancho Cordova, roughly 15 miles outside Sacramento. Totaling 149 units, the property features studio, one- and two-bedroom apartments. Amenities at the $46.5 million development include a fitness studio, movie theater, billiards lounge, pub, salon and library. Outdoor features include walking paths, raised garden beds and a fire-pit courtyard. This marks Hawthorn Senior Living’s sixth community in California. Hawthorn’s national portfolio comprises more than 70 communities.

August 7, 2025

Acquisitions California Multifamily Walker & Dunlop Western

Gelt Venture Partners Buys 92-Unit Multifamily Community in National City, California

by Amy Works August 7, 2025

NATIONAL CITY, CALIF. — Gelt Venture Partners has acquired The Commodore, an apartment property located at 200-250 E. 31st St. in National City, for $40 million. Built in 2024, The Commodore comprises six three-story buildings offering a total of 92 studio, one- and two-bedroom floor plans with select units featuring two-story and loft-style layouts. At the time of sale, the property was 96 percent occupied. Units feature in-unit washers/dryers, quartz countertops, designer tile backsplashes, wood-style plank flooring, European-style cabinetry, stainless steel appliances and private balconies. Community amenities include a resort-style pool and spa, clubhouse, an outdoor lounge with fire pit, barbecue areas, electric vehicle charging stations, detached garages and an onsite leasing office. Hunter Combs of Walker & Dunlop represented the buyer and undisclosed seller in the deal.

August 7, 2025

Acquisitions Arizona Retail Western

Cohen & Steers, Sterling Organization Acquire 159,000 SF Shopping Center in Metro Phoenix

by Amy Works August 7, 2025

DEER VALLEY, ARIZ. — A joint venture between Cohen & Steers Income Opportunities REIT (CNSREIT) and Sterling Organization has acquired Deer Valley Towne Center, a 159,000-square-foot, open-air shopping center located in the Deer Valley neighborhood of Phoenix. Target shadow anchors the center, which is situated across from Phoenix General Hospital and PetSmart’s corporate headquarters. The property is more than 94 percent leased to tenants including Five Below, Ross Dress For Less, Dollar Tree, PetSmart, Michaels, Jersey Mike’s Subs, Panda Express, Chipotle, Sola Salon Studios, GNC and Bath & Body Works. This transaction marks CNSREIT’s fourth acquisition with Sterling Organization and the sixth open-air shopping center in its portfolio.

August 7, 2025

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