— Matt Moore and Wes Hunnicutt of Stream Realty Partners — The Los Angeles industrial real estate market is stabilizing after a historic run of record-high rents and the all-time-low vacancy seen in 2022 and 2023. Pandemic-driven demand pushed users to take on additional space at a rapid pace, with supply chain concerns forcing tenants to carry more inventory. As the pandemic subsided, the market began a softening period in 2024 through early 2025. This brought about a massive rent correction as tenants began to give back space and right-size their operations. Stabilization has begun, however, and most investors feel the market has found its bottom and is beginning to rebound at a normalized, moderate pace. Vacancy rates at the peak were less than 2 percent in a market with nearly 1 billion square feet of inventory, while rates hit $1.85 per square foot (triple net) in early 2023. Los Angeles’ industrial market has now settled at about 6 percent and $1.43 per square foot, which most would consider healthy. Today, tenants have options when looking for larger blocks of space, and they’re no longer forced to pay record-high rents with minimal concessions from landlords. Third-party logistics providers have continued …
PORTLAND, ORE. — Guardian has purchased Ladd Tower, an apartment building located at 1300 S.W. Park Ave. in downtown Portland, for an undisclosed price. Josh McDonald and Joe Nydahl of CBRE, along with Jesse Weber and Andrew Behrens of CBRE’s Debt & Structured Finance team, represented the buyer and undisclosed seller in the deal. The 23-story Ladd Tower features 332 Class A apartments and is adjacent to the South Park Blocks and within walking distance of Portland State University, public transit and major downtown employers.
LOS ANGELES — JLL Capital Markets has arranged the sale of Project Bronco, a multi-submarket industrial portfolio in Los Angeles’ San Gabriel Valley and Orange County submarkets. EQT Real Estate and Berkeley Partners each acquired separate assets from the 365,774-square-foot portfolio through distinct closings. Patrick Nally, Ryan Spradling, Evan Moran, Makenna Peter and Shae Vomund of JLL Capital Markets represented the undisclosed seller in both transactions.
MADERA, CALIF. — Hanley Investment Group Real Estate Advisors has negotiated the $12.2 million sale of a newly constructed, single-tenant retail property located in the San Joaquin Valley city of Madera. The property spans 4,644 square feet and is occupied by a 7-Eleven convenience store and gas station, with commercial diesel fueling lanes. This transaction marks the highest‑priced, single‑tenant 7‑Eleven property ever sold in California and the first and only 7‑Eleven location in the city, according to Hanley Investment Group. Sean Cox and Bill Asher of Hanley Investment Group represented the seller and developer, Clovis, Calif.-based Stock Five Development Inc. Dev Patel of Kidder Mathews represented the buyer, a private investor from the San Francisco Bay Area.
SALIDA, COLO. — Prime Investment Properties, a member of Hotel Brokers International, has arranged the sale of Salida Inn & Monarch Suites, located at 7310 W. US Highway 50 in Salida. Denver-based IMPRINT Hospitality sold the asset to an undisclosed buyer for $2.7 million, equaling $100,000 per key. Originally constructed in 1960 and recently renovated, the two-story, 13,500-square-foot property features 27 rooms, some with fully equipped kitchens, along with cottages, a hot tub, an outdoor pool and multiple patios. Situated on 1.2 acres, the hotel offers access to the Arkansas River, Monarch Mountain Ski Areas and San Isabel National Forest.
MESA, ARIZ. — Salt Lake City-based Millburn & Co. has acquired Ascend at Longbow Highpoint, a multifamily property in Mesa, from D.R. Horton for an undisclosed price. Matt Pesch, Asher Gunter and Austin Groen of CBRE represented the seller in the transaction. CBRE’s Debt & Structured Finance team arranged financing for the buyer. Completed in 2025, the community features 339 apartments situated along the Longbow Golf Club. Residences include hardwood-style flooring, granite countertops, energy-efficient windows, smart thermostats, full-size washers/dryers, stainless steel appliances and patios or balconies. Ascend at Longbow Highpoint in Mesa, Ariz., features 339 apartments, a swimming pool, conference rooms, pet amenities and a resident clubhouse. Community amenities include a resort-style pool deck with golf course views, a covered outdoor kitchen and barbecue pavilion, a resident clubhouse with lounge areas, a community kitchen, conference rooms and coworking spaces. Additional amenities include outdoor gathering areas, electric vehicle charging, pet amenities, package lockers and a walking trail with direct access to the golf course.
LOS ANGELES — Institutional Property Advisors (IPA) has arranged the $28 million sale of Park Encino, a 52-unit apartment property in the Encino neighborhood of Los Angeles. IPA’s Kevin Green, Joseph Grabiec and Gregory Harris represented the undisclosed seller and procured the buyer, locally based Universe Holdings Development. Completed in 2014, Park Encino is a gated community with a central courtyard, clubhouse, fitness center, patio and grill. The unit mix is comprised of two- and three-bedroom floor plans. Units feature washers and dryers and walk-in closets.
BUCKEYE, ARIZ. — Seven new tenants will open this month at Verrado Marketplace, a 500,000-square-foot shopping center development located in Buckeye, approximately 35 miles outside Phoenix. The first wave of tenants includes Buckle, Ulta Beauty, Target, Bath & Body Works, Famous Footwear, Marshalls and HomeGoods. Target, which spans 148,000 square feet, will be the first anchor tenant to open at Verrado Marketplace on May 17. The next wave of tenants will debut in June, including Einstein Bros. Bagels, Elite Shutters & Blinds, Great Clips, Pacific Dental Services, NextCare Urgent Care, Paramount Hair Extensions and CityVet, followed by Ross Dress for Less in mid-July. Verrado Marketplace is projected to be fully open by January 2027 and will comprise more than 55 retailers, chef-driven restaurants and eateries, service-based tenants and the Harkins BackLot entertainment experience.
CARLSBAD, CALIF. — Lee & Associates has negotiated the sale of an industrial property located at 3186 Lionshead Ave. in Carlsbad. The asset traded for $6.3 million. Situated within Carlsbad Raceway Business Park, the 20,142-square-foot property features a clear height of 24 feet, one dock well and two grade-level doors. At the time of sale, the property was partially leased. Rusty Williams, Chris Roth and Jake Rubendall of Lee & Associates — North San Diego County represented the seller, while Chris Vassilian of Lee & Associates Irvine represented the buyer in the deal.
DENVER — Walker & Dunlop has arranged $130 million in financing to fund the mixed-use redevelopment of a former Veterans Affairs (VA) hospital campus in Denver. GM Development, a locally based urban infill development firm, is the borrower. Chris Rumul, Jason Silva, Cole Parker and Mike Valucci of Walker & Dunlop arranged the financing through the U.S. Department of Housing and Urban Development (HUD) 221(d)(4) loan program. This marks the largest HUD 221(d)(4) loan in the company’s history. (The 221(d)(4) loan product is HUD’s construction-to-permanent financing program that funds the construction or heavy renovation of apartment communities with five or more units.) Situated in the historic Hale neighborhood of Denver, the project will transform a historic 10-story building and eight-level parking garage. The project’s capital stack includes historic tax credits. Upon completion, the redevelopment will feature 493 multifamily units, with roughly 8 percent of units designated as income-restricted. Additionally, the development will include more than 50,000 square feet of retail and medical office space. The 8.2-acre site is located roughly three miles from downtown Denver and is adjacent to the 9+CO master-planned district. GM Development acquired the property in 2022. “We’re excited to transform this historic site into a vibrant …