Western

VanTrust Enters Colorado Market with 363,955 SF Industrial Development in Monument

by Amy Works March 14, 2025

MONUMENT, COLO. — VanTrust has broken ground for the construction of Falcon Commerce Center, a two-building Class A industrial development in Monument. The buildings offer a total of 363,955 square feet of industrial, warehouse and distribution space. The project is VanTrust’s first venture in the Colorado market. Falcon Commerce Center will include the 249,633-square-foot Building A and 114,322-square-foot Building B. Building A will be the area’s first cross-dock speculative facility, while Building B will feature a rear-load dock. Building B is slated for completion in first-quarter 2026, with Building A scheduled for delivery in second-quarter 2026. VanTrust is partnering with CP Real Estate Capital on the project. Randy Churchill of NAI Highland Commercial and Carmon Hicks of JLL are handling leasing for Falcon Commerce Center.

March 14, 2025

Acquisitions Arizona Industrial Western

BKM Capital Partners Sells 159,304 SF Rose Garden Business Park in Phoenix

by Amy Works March 14, 2025

PHOENIX — Newport Beach, Calif.-based BKM Capital Partners has completed the sale of Rose Garden Business Park, a small-bay industrial park on 10.2 acres in Phoenix. An undisclosed affiliate of BKM Capital Partners acquired the asset for $35.1 million. Located at 1801-1831 W. Rose Garden Lane and 20801-20823 N. 19th Ave., the property consists of nine buildings offering a total of 159,304 square feet of industrial space. Originally built in 1987, Rose Garden Business Park features 18-foot clear heights, 43 grade-level doors and 16 dock doors. At the time of sale, the property was fully leased. Bob Buckley and Tracy Cartledge of Cushman & Wakefield, in collaboration with Will Strong, Michael Matchett, Molly Hunt, Jack Stamets and Madeline Warren of Cushman & Wakefield’s National Industrial Advisory Group – Mountain West, represented the seller in the deal.

March 14, 2025

Acquisitions California Industrial Western

Marcus & Millichap Brokers Sale of 50,000 SF Industrial Property in Los Angeles

by Amy Works March 14, 2025

LOS ANGELES — Marcus & Millichap has arranged the purchase of an industrial building located at 21300 Vanowen St. in Los Angeles. The asset traded for $16.3 million. Adam Abushagur, Ari Greene and Joshua Cohan of Marcus & Millichap represented the buyer, a limited liability company, in the deal. Situated on 2.4 acres, the single-tenant, 50,000-square-foot distribution center offers 16-foot clearances and 11 dock-high and grade-level doors. At the time of sale, the property was occupied by a FedEx Ship Center on a triple-net lease at market rate.

March 14, 2025

California Loans Multifamily Western

MMCC Arranges $16.8M in Refinancing for Le Noble Apartments in Los Angeles

by Amy Works March 13, 2025

LOS ANGELES — Marcus & Millichap Capital Corp. (MMCC) has secured $16.8 million for the refinancing of Le Noble Apartments in Los Angeles. Terms of the 30-year loan include three years of interest-only payments at a 6.19 percent rate followed by a 30-year amortization and a 65 percent loan-to-value ratio. Dan Litman of MMCC secured the financing with a national bank on behalf of a local commercial brokerage firm that specializes in sales, leasing and management of multifamily and commercial properties located in Los Angeles County, Calif. Located at 5768 W. 3rd St., Le Noble Apartments offers 46 residences with in-unit washers/dryers. The property features elevators, balconies, a dog park, courtyard and fitness center that is currently under construction.

March 13, 2025

Acquisitions California Industrial Western

Newmark Brokers Sale of 218,648 SF Birch Commerce Center in Brea, California

by Amy Works March 13, 2025

BREA, CALIF. — Newmark has negotiated the sale of Birch Commerce Center, a Class A distribution facility in Brea. Terms of the transaction were not released. Built in 2016, the 218,648-square-foot facility is fully leased to two tenants. Birch Commerce Center offers a clear height of 32 feet, 21 dock-high loading doors, ESFR sprinklers and a fully fenced concrete truck court. The property offers proximity to SR-57, SR-91, SR-60, SR-22 and Interstate 5. Bret Hardy, Jim Linn, Andrew Briner, Aaron Banks and Kevin Shannon of Newmark represented the undisclosed institutional seller in the deal. Jeff Read, Scott Read and Greg Osborne of Newmark are serving as leasing agents for the property.

March 13, 2025

Acquisitions California Retail Western

Westar Associates Sells 96,380 SF Foothill Park Plaza in Monrovia, California

by Amy Works March 13, 2025

MONROVIA, CALIF. — Newport Beach, Calif.-based Westar Associates has completed the disposition of Foothill Park Plaza, a neighborhood shopping center in Monrovia, to Phillips Edison & Co. for an undisclosed price. Developed in 1985, the 96,390-square-foot center is occupied by Vons, Chase Bank, Wendy’s, Blaze Pizza, Baskin Robbins and See’s Candies. Pete Bethea, Rob Ippolito and Glen Rudy of Newmark represented the seller, which has owned, leased and managed the property for the last 40 years through its affiliated companies.

March 13, 2025

Acquisitions Colorado Mixed-Use Office Restaurant Retail Western

Revitalization Unlimited Acquires 34,160 SF Mixed-Use DeGraff Building in Colorado Springs

by Amy Works March 13, 2025

COLORADO SPRINGS, COLO. — Revitalization Unlimited has purchased The DeGraff Building, a mixed-use property at 118 N. Tejon St. in Colorado Springs. Terms of the transaction were not released. The four-story, 34,160-square-foot building features 18 rental units, 16 of which are currently leased. For the past decade, Oskar Blues Grill & Brew has occupied the first floor and basement, while the upper floors are used as office space. Built in 1897, The DeGraff Building is listed on the National Register of Historic Places.

March 13, 2025

Acquisitions California Industrial Western

BLT Enterprises Divests of Industrial Building in Los Angeles to Expo Flooring for $4.7M

by Amy Works March 13, 2025

LOS ANGELES — BLT Enterprises has completed the off-market sale of an industrial warehouse to its long-time tenant, Expo Flooring, for $4.7 million. Located at 1933 Alameda St., the 15,836-square-foot warehouse is situated on 23,295 square feet of land in Central Los Angeles, just off Interstate 10. Through its ownership, BLT implemented a series of improvements to the property, including replacing the roof in 2015. BLT initially purchased the property in 2006.

March 13, 2025

Colorado Development Loans Multifamily Western

First Stone Development Receives $15.8M in Construction Financing for Multifamily Project in Denver

by Amy Works March 12, 2025

DENVER — First Stone Development has received $15.8 million in financing for the construction of The Jasper, a multifamily property at 4353 Tennyson St. in Denver. Phillip Gause and Jim Wilkins of Marcus & Millichap Capital Corp.’s Denver office secured $2 million in preferred equity and $13.8 million in debt for the borrower. The construction loan was placed with a debt fund and features a two-year term. Situated in Denver’s Berkeley neighborhood, The Jasper will offer 34 apartments and 2,700 square feet of street-level retail space.

March 12, 2025

Acquisitions Industrial Nevada Western

Intersection Equities, Sundance Bay Buy 48,304 SF Valley View Industrial Facility in Las Vegas

by Amy Works March 12, 2025

LAS VEGAS — Intersection Equities, in partnership with Sundance Bay, has acquired Valley View Industrial, a multi-tenant flex industrial asset in Las Vegas, from Sanders Wyoming Trust. The transaction was valued at $8.7 million, or $181 per square foot. Erik Sexton and Camila Rosales of NAI Excel represented the buyer in the deal. Located at 5325 S. Valley View Blvd., Valley View Industrial consists of a 48,304-square-foot facility offering nine warehouse/office units ranging from 1,000 square feet to 28,000 square feet. The property features 14- to 18-foot clear heights and 11 grade-level doors. The ownership plans to implement a series of capital improvements to elevate the property to an institutional-quality asset. Planned renovations include a façade upgrade, new exterior paint and parking lot seal-and-stripe enhancements to improve curb appeal and long-term asset value.

March 12, 2025

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