REBusinessOnline

Safeway Breaks Ground on 62,000 SF Location at Damonte Ranch Town Center in Reno

RENO, NEV. — Safeway has broken ground for a new grocery store at Damonte Ranch Town Center, located at the corner of Steamboat Parkway and Damonte Ranch Parkway in south Reno. The 62,000-square-foot store will be the grocery store chain’s third location in the Reno-Sparks market. Safeway will join RC Willey and The Home Depot as anchor tenants at the 509,000-square-foot shopping center, which Lewis Retail Centers owns. The retail center is part of the 2,000-acre Damonte Ranch …

LPC West, Cerberus Capital Buy 30-Acre Industrial Development Site in Oceanside, California

OCEANSIDE, CALIF. — LPC West, in partnership with an affiliate of Cerberus Capital Management, has acquired a nearly 30-acre development site in Oceanside. Terms of the acquisition were not released. The partnership plans to develop a modern industrial campus on the site, which is located within Ocean Ranch, a 400-acre office and industrial development. “Together with Cerberus, we plan to build highly efficient industrial buildings that will meet the needs of tenants looking for …

Cohen Asset Management Acquires Industrial Building in West Phoenix for $30.7M

PHOENIX — Los Angeles-based Cohen Asset Management has purchased an industrial property located in West Phoenix. Kansas City Life Insurance Co. sold the asset for $30.7 million. OnTrac, a logistics company, and LA Specialty Produce Co. occupy the 325,800-square-foot facility, which is located at 7400 W. Buckeye Road. Payson MacWilliam, Don MacWilliam and Chris Reese of Colliers International in Arizona handled the

MIG Real Estate Sells 35,258 SF One Ridgegate Office Property in Temecula, California

TEMECULA, CALIF. — Newport Beach, Calif.-based MIG Real Estate has completed the sale of One Ridgegate, an office building located at 1 Ridgegate Drive in Temecula. An undisclosed buyer acquired the property for $5.2 million. Situated on three acres and built in 2003, One Ridgegate offers 35,258 square feet of office space. At the time of sale, the property was 92 percent leased. CBRE/Lee & Associates represented the seller, while Mike Realty represented the buyer in the

Blueprint Negotiates Sale of Eight-Property Assisted Living Portfolio in Pacific Northwest

WASHINGTON AND OREGON — Blueprint Healthcare Real Estate Advisors has arranged the sale of eight private-pay assisted living assets in Oregon and Washington totaling 321 units. A joint venture between an Arizona-based private equity firm and an Oregon-based owner-operator acquired the properties. The seller and price were not disclosed. The buyer intends to reposition the communities, possibly adding more memory care

Progressive Real Estate Brokers $5.7M Sale of All Star Car Wash Location in Corona, California

CORONA, CALIF. — Progressive Real Estate Partners has arranged the sale of All Star Car Wash and Castrol Oil and Lube Center, located at 465 McKinley St. in Corona. A Japan-based private investor sold the asset, which includes the business and real estate, to an Orange County, Calif.-based private investor for $5.7 million. Built in 1992, All Star Car Wash features a full-service handwash with 100-foot tunnel, a three-bay Castrol Oil and Lube Express, a smog center, an outdoor patio and …

Evergreen Devco Buys 163,594 SF Chandler Pavilions Retail Center in Arizona

CHANDLER, ARIZ. — Evergreen Devco has acquired Chandler Pavilions, a shopping center located at 800-890 N. 54th St. in Chandler. Invesco sold the asset for an undisclosed price. Built in 1998, the value-add center features 163,594 square feet of retail space. Current tenants include REI, Bed Bath & Beyond, Golf Galaxy and Cost Plus World Market. Pat Dempsey of JLL represented the seller. Phoenix Commercial Advisors will continue to serve as leasing agents for the

Alpine Food Distributing Acquires 220,000 SF Industrial Complex in Milwaukie, Oregon

MILWAUKIE, ORE. — Alpine Food Distributing has purchased two distribution facilities, located at 9696 SE Omark Drive in Milwaukie. Oregon Transfer Co. sold the asset for $12.2 million. Steven Klein and Peter Stalick of Kidder Mathews represented Alpine in the transaction. The Oregon-based, family-owned food distribution company previously leased the properties, which offer a total of 220,000 square feet. The newly acquired complex is adjacent to a 280,000-square-foot facility that the …

Orion Investment Real Estate Negotiates Sale of 18.5-Acre Commercial Development Site in Arizona

SURPRISE, ARIZ. — Orion Investment Real Estate, along with Property Dimensions Real Estate Group, has arranged the sale of an 18.5-acre commercial land site located at the northwest corner of Litchfield and Cactus roads in Surprise. Veramonte Land Holdings sold the parcel to Terry B. Brodkin & Associates, as 18.5 Litchfield & Cactus LLC, for $2.2 million. The buyer is working with LGE to develop high-quality flex space at the back of the property, while frontage is being sold off …

Marcus & Millichap Brokers $13.3M Sale of Durango Town Center in Colorado

DURANGO, COLO. — Marcus & Millichap has arranged the sale of Durango Town Center, a retail shopping center located in Durango. A private partnership led by David Spriggs of Denver-based DMS Real Estate sold the asset to a private local investor for $13.3 million. Ryan Bowlby and Drew Isaac of Marcus & Millichap represented the seller, while Brian Hagger, also of Marcus & Millichap, represented the buyer. Phillip Gause of Marcus & Millichap Capital Corp. placed financing on …

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