HENDERSON, NEV. — KemperSports has partnered with the City of Henderson to build and operate West Henderson Fieldhouse, a state-of-the-art athletic and entertainment facility in Henderson, a suburb southeast of Las Vegas. Slated to open in 2026, the public-private development will include capital investment, development oversight and the long-term management of the complex by KemperSports. The 180,000-square-foot facility will feature: West Henderson Fieldhouse is expected to generate $1.5 million in annual tax revenue, $39.1 million in total economic impact annually and $10.7 million in wages and salaries, according to KemperSports.
ESCONDIDO, CALIF. — Steel Peak has acquired an industrial outdoor storage (IOS) property, located at 2213 Meyers Ave. in the San Diego suburb of Escondido, for $3.7 million. The IOS property features an 8,000-square-foot industrial building and large, secured, fenced yard on 1.7 acres. The building features 18-foot clear heights, six oversized ground-level loading doors, abundant power and office space. Mike Erwin, Tucker Hohenstein and Hank Jenkins of Colliers San Diego represented the seller, Act Property Acquisition Partners II LLC, and the buyer in the transaction.
WEST SACRAMENTO, CALIF. — Dwight Capital has provided a $21.6 million HUD 223(f) loan for Meadowbrook Apartments, a newly renovated multifamily community in West Sacramento. Proceeds from the loan will be used to retire existing debt and fund property improvements for the borrower, Tesseract Capital Group. The loan also benefitted from a Green Mortgage Insurance Premium Reduction set at 25 basis points, as Meadowbrook Apartments holds National Green Building Standard Bronze certification. Meadowbrook Apartments features 92 one-, two-, three- and four-bedroom units with patios and balconies spread across 10 two-story residential buildings. Community amenities include two communal buildings, a fitness center, game room, dog park, pool, barbecue/picnic area and pool house with bathroom and kitchenette facilities.
CHULA VISTA, CALIF. — Paragon Real Estate Investments has completed the disposition of Heritage Towne Center, a retail property in the San Diego suburb of Chula Vista. Palomar Heritage LLC acquired the asset for $14.7 million. Situated on 1.9 acres, the 36,161-square-foot property consists of four retail buildings that were built in 2002. At the time of sale, the asset was fully occupied by 21 tenants. Reg Kobzi, Joel Wilson, Michael Peterson, Lane Robertson, Philip Voorhees and Joe Yetter of CBRE represented the seller in the deal.
GILBERT, ARIZ. — Sorrento Seven has purchased an industrial building located at 2228 W. Guadalupe Road in Gilbert, approximately 20 miles southeast of Phoenix. Simon Charitable Foundation sold the asset for $10.9 million. Moog Aerospace and Defense (NYSE: MOG.A/MOG.B) fully occupies the 34,132-square-foot facility, which was built in 2019. Brian Ackerman of Colliers handled the marketing and sale of the property.
RIVERSIDE, CALIF. — Hanley Investment Group has arranged the sale of a three-tenant retail pad building located at 22430 Van Buren Blvd. in the Inland Empire city of Riverside. A Los Angeles-based 1031 exchange investor acquired the asset from Irvine-based Greens Development Inc. for $5.8 million. Completed in 2020, the 6,300-square-foot property is occupied by Chipotle Mexican Grill, MA Dental and BHC Chicken, which is slated to open in October. The pad building is part of Veteran’s Plaza, a community shopping center and hotel complex developed by Greens Development. Tenants at the shopping center include In-N-Out Burger, Starbucks Coffee, Hampton Inn + Home2 Suites and Circle K with a 76 gas station. Eric Wohl and CJ Kiehler of Hanley Investment Group represented the seller, while Justin Altemus of The Altemus Co. represented the buyer in the deal.
TUCSON, ARIZ. — Cushman & Wakefield | PICOR has arranged the sale of a 23-unit multifamily portfolio in Tucson. Plowden/Martin Properties LLC acquired the asset from Welsey James Krajicek Family Revocable Trust for $2.1 million. The portfolio includes Pima Apartments at 4238-4246 E. Pima St. and Lee Apartments at 4223-4245 E. Lee St. Allan Mendelsberg and C. Joey Martinez of Cushman & Wakefield | PICOR represented the buyer and seller in the deal.
— By Josh McDonald, Executive Vice President, CBRE’s Institutional Multifamily Investment Services — Recent data points to positive trends in Portland’s multifamily leasing market heading into the summer months. The rebound in absorption and declining new supply — primarily driven by an active suburban renter base — highlight the resilience and growth potential of the local rental market. The positive leasing trends in Portland have contributed to create an increase in recent investment sales opportunities. Strong leasing performance, as indicated by elevated absorption rates and demand for rental properties, often translates into positive investor sentiment and heightened investment activity in the multifamily sector. This may signal to investors that the market has opportunities for solid returns and growth potential. The green shoots in seasonal leasing are weighted in the suburbs with demand accounting for more than 65 percent of the net change in occupied units, emphasizing a strong preference for suburban living. With more than 3,100 units absorbed in 2024 already, the year is on track to surpass the full-year totals for both 2022 and 2023. This may potentially exceeding the 10-year average as well, according to CoStar. Denser urban areas and the Central Business District also experienced an increase …
PHOENIX — A joint venture between Sabal Investment Holdings, 12 North Capital LLC and affiliates of MorningStar Senior Living has purchased MorningStar at Arcadia, a seniors housing property in Phoenix. Located at 3200 E. Glenrosa Ave., MorningStar at Arcadia features 78 assisted living suites across studio, one-bedroom and two-bedroom floorplans and 30 memory care suites. Community amenities include a fitness center, resident game room, outdoor seating area with fire pit, and resident dining room. The buyers plan to implement an improvement program including a cosmetic refresh to common areas, including the main entrance lobby, dining room, theater and other amenity spaces along the reconfiguration of smaller assisted living units to meet local demand for larger and more functional living spaces. Additionally, the buyers plan exterior painting and landscaping improvements. Aron Will and Michael Cregan of CBRE National Senior Housing arranged financing for the acquisition. The seller, price and other transaction details were not released.
LOS ANGELES — DAUM Commercial Real Estate Services has arranged the sale of an industrial building in Los Angeles. A private investor acquired the asset from an undisclosed buyer for $14.1 million. Located at 200-202 W. 140th St., the building features 60,457 square feet of industrial space. At the time of sale, the property was fully occupied by local manufacturing tenants. Anthony Bergeman, Michael Chase and Krishna Shegran of DAUM represented the buyer in the deal.