NORTH LAS VEGAS, NEV. — United Construction has been selected to construct Southwest Gas Corp.’s new Southern Nevada Campus. Located at the corner of Centennial Parkway and Shatz Street in North Las Vegas, Northeast Centennial Operations Center will consist of two concrete tilt-up buildings totaling 101,981 square feet. One building will offer 73,000 square feet of office space, 21,000 square feet of warehouse space and a mezzanine level, while the second building will offer 7,049 square feet of industrial space. Additionally, the project will feature a storage yard and an outdoor-living demonstration area. The project broke ground in early May and completion is slated for April 2009. Upon completion, Southwest Gas Corp. plans to use the property as its primary facility in Southern Nevada.
TEMPE, ARIZ. — The Wolff Company has partnered with The Barker Pacific Group to develop South Bank, a 3.6 million-square-foot mixed-use district in Tempe. Located along Rio Salado Parkway between Rural Road and McClintock Drive, the 27.3-acre project will feature interconnected retail, office, hotel and residential space. The master-planned district features waterfront accessibility, a central plaza, a lakeside boardwalk, an iconic pier and a continuous linear park connecting the district to Mill Avenue and downtown Tempe. Construction on the $25 million infrastructure began in February and vertical construction is expected to begin in 2009.
SAN DIEGO — H.G. Fenton Development Co. is developing Aquatera, a residential community located in San Diego’s Mission Valley area. The 19-acre project will offer 254 one-, two- and three-bedroom apartment homes featuring granite countertops, ceramic tile entry ways, 9-foot ceilings, stainless steel appliances, washers/dryers, air conditioning, walk-in closets and a private patio or balcony. Additionally, the project will feature a fully equipped sports club, a Cyber Café, a gourmet kitchen, a pool table, a media center, and a resort-style pool with a spa and cabanas. Architects Orange provided architectural services for the project; Crane Development Corp. served as general contractor. Completion is slated for early 2009.
FREDERICK, COLO. — Panattoni Development Co. is currently developing a two-building industrial project in Frederick. Located along Interstate 25 between State Highways 119 and 52, the project will feature an 81,925-square-foot building offering showroom/light-industrial space and divisible to 16,500 square feet, and a 138,240-square-foot facility designed for warehouse or distribution space and divisible to 30,000 square feet. Mike Wafer and Steve Poole of Grubb & Ellis are marketing the project.
LAVEEN, ARIZ. — Phoenix-based Evergreen Development Co. is developing Laveen Ranch Marketplace, a 14.21-acre retail center located at the intersection of 51st Avenue and Baseline Road in Laveen. Safeway is currently constructing a 55,000-square-foot store on the site, and Fletcher Tire is building a freestanding store at the center. Safeway is slated to open in October, while Fletcher Tire and the retail center are expected to open in August. Current tenants include Rosattis Pizza, The UPS Store, Nails of the World and a Mexican restaurant. Butler Design Group provided architectural services for the center, while A.R. Mays served as general contractor.
WALLA WALLA, WASH. — Tiburon, Calif.-based Achuck Family Partnership LP has purchased Centennial West for $1.7 million. Located at 1501 W. Rose St. in Walla Walla, the property features 62 residential units. Grayson Pounder of Hendricks & Partners’ Portland, Ore., office represented the seller, Santa Rosa, Calif.-based Burbank Investors Services, in the transaction.
SAN YSIDRO, CALIF. — Steadfast Villa Nueva LP has purchased Villa Nueva, a Section 8 affordable housing apartment complex in San Ysidro. Located at 3604 Beyer Blvd., the 390-unit property sold for $41.2 million. Kevin Mulhern of CB Richard Ellis’ (CBRE) San Diego office and Jim Lampman of CBRE’s Seattle office marketed the property on behalf of the seller, Villa Nueva; Steadfast Villa Nueva was represented in-house.
SAN DIEGO — San Diego-based La Jolla Car Wash has acquired a 34,000-square-foot office property, which is located at 1060 Eighth Ave. in San Diego. La Mesa, Calif.-based Pacific View Properties sold the property for $7.6 million. The buyer intends to occupy a portion of the four-story, Class B office building and lease the remaining space. Brian Mulvaney and Jon Boland of Voit Commercial Brokerage’s San Diego office represented the seller; Jeff Hoffman and Hans Strom of Strom Commercial represented the buyer in the transaction.
RIVERSIDE, CALIF. — Newport Beach, Calif.-based CT Realty Corp. has purchased Citrus Park, a 12-building office and industrial park located in Riverside, for $24.5 million. Located on 43 acres, the park consists of 417,811 total square feet. Two buildings are two-story office buildings totaling 78,115 square feet and the remaining buildings are single-story industrial office/warehouse facilities offering approximately 332,695 total square feet. CT Realty plans to invest $7 million to redevelop the park into separate parcels available for sale or lease. Additionally, the entire park will be redeveloped to offer a contemporary, campus-like business park environment. Rick Fuller of Lee & Associates represented both the buyer and the seller, Fleetwood Enterprises Inc., in the transaction. Equity financing was provided by CT California Fund V and Fund VI, with debt financing provided by Pacific Coast Capital Partners.
DES MOINES, WASH. — The Port of Seattle has selected Majestic Realty Co. for the development of Des Moines Creek Business Park. Located just south of Seattle-Tacoma International Airport, the 89-acre park will include a big-box retail center as well as flexible-use business park buildings able to accommodate airport-adjacent tenants. Majestic plans to use the LEED Green Building Rating System as a performance standard for designing the $90 million project. Build-out of the project is expected to occur in three phases over 5 years, with groundbreaking for the first phase slated for summer 2009.