Western

Pillar Recapitalizes 229-Unit Multifamily Property in Burien, Washington

by Amy Works July 24, 2025

BURIEN, WASH. — Pillar Properties has completed the recapitalization of The Maverick, an apartment community in Burien, by bringing in Stockbridge Capital Group as a joint venture equity partner. Eli Hanacek, Kyle Yamamoto, Mark Washington and Natalie Kasper of CBRE represented Pillar Properties in the transaction. Located at 15045 5th Ave. SW, The Maverick offers 229 studio, one- and two-bedroom units. Built in 2017, the property includes a movie theater; two-story, 24-hour fitness center; a yoga center; and a resident club lounge.

July 24, 2025

Acquisitions Multifamily Oregon Western

CBRE Arranges $28M Sale of Axletree Apartments in Milwaukie, Oregon

by Amy Works July 24, 2025

MILWAUKIE, ORE. — CBRE has arranged the sale of Axletree Apartments, a multifamily complex located at 11125 SE 21st Ave. in Milwaukie. A private seller sold the asset to an undisclosed buyer for $28 million. Built in 2019, Axletree Apartments features 110 studio, one- and two-bedroom units with in-unit washers/dryers and stainless steel appliances. Josh McDonald and Joe Nydahl of CBRE represented the seller in the deal.

July 24, 2025

LogistiCenter-Frederickson-BldgA-Tacoma-WA

Acquisitions Development Industrial Washington Western

Dermody Acquires Fully Entitled Site for LogistiCenter at Frederickson in Tacoma, Washington

by Amy Works July 24, 2025

TACOMA, WASH. — Dermody has purchased 40.8 acres of land at 17027-17028 Canyon Parkway East In Tacoma for an undisclosed price. The fully entitled site will become LogistiCenter at Frederickson, a two-building industrial park. Slated for delivery in second-quarter 2026, Building A will offer 443,420 square feet and Building B will feature 91,728 square feet. Additionally, the property will feature a trailer lot. Andrew Hitchcock, Andrew Stark and Zac Snedeker of CBRE are handling leasing for the project. Brett Hartzell of CBRE’s National Partners assisted with the acquisition.

July 24, 2025

Acquisitions California Industrial Self-Storage Western

Matthews Brokers Sale of 67,980 SF Southgate Mini Storage Property in Napa, California

by Amy Works July 24, 2025

NAPA, CALIF. — Matthews Real Estate Investment Services has brokered the sale of Southgate Mini Storage, a self-storage property located at 1025 Golden Gate Drive in Napa. Terms of the transaction were not disclosed. Shane Avera of Matthews handled the transaction. The seller has owned the 67,980-square-foot property for more than 50 years.

July 24, 2025

Market Reports Multifamily Utah Western Western Market Reports

Salt Lake City’s Multifamily Market Is Positioned for a Comeback

by John Nelson July 24, 2025

— By Will Moss of MMG Real Estate Advisors — After a turbulent stretch marked by oversupply and softening rents, Salt Lake City’s multifamily market is showing signs of stabilization in early 2025. Demand is returning, rent declines are easing and investor confidence is on the rise, all pointing to a market that may have found its footing. “We’re not calling a full recovery just yet,” says Will Moss, sales agent at MMG Real Estate. “But what we’re seeing is a return to fundamentals, steady demand, measured construction and buyers who are ready to transact again.” In first-quarter 2025, net absorption reached 1,044 units, outpacing the 894 units delivered and marking the first time in over a year that demand exceeded new supply. Over the past 12 months, approximately 4,500 units were absorbed, well above the metro’s historical average. Demand Rebounds, But Challenges Linger Salt Lake City mirrors national trends where improved economic confidence and easing inflation have begun to unlock pent-up housing demand. Notably, demand has been strongest among mid-tier renters, though even luxury properties, despite being the main source of new supply, posted a 1.8 percent rent increase year-over-year. Still, rents overall declined 0.3 percent annually, continuing a …

July 24, 2025

Development Office Washington Western

Skanska Completes 799,933 SF The Eight Office Tower in Bellevue, Washington

by Amy Works July 23, 2025

BELLEVUE, WASH. — Skanska Commercial Development, with Pickard Chilton as architect, has completed The Eight, a 25-story office tower at 10770 NE 8th St. in Bellevue. The 799,933-square-foot tower features ground-floor retail space, an office lobby, publicly accessible lobby lounge, column-free floor plates, 14-foot ceilings and an independent pavilion. Project partners included Skanska USA as general contractor, Adamson Associates as architect of record, Magnusson Klemencic Associates as structural engineer and Michael Hsu Office of Architecture as interior designer.

July 23, 2025

California Development Industrial Western

9th St., Clarion Break Ground on 473,250 SF Manufacturing Project at Bayside Technology Park in Fremont

by Amy Works July 23, 2025

FREMONT, CALIF. — 9th St. Partners LLC and Clarion Partners have broken ground on Campus at Bayside, an advanced manufacturing business park within Bayside Technology Park in Fremont. At full build-out, the six-building campus will offer 473,250 square feet of industrial space. Scheduled for delivery in second-quarter 2026, Phase I will feature 253,472 square feet across three buildings, designed to accommodate advanced manufacturing and R&D users. Each building will include a clear height of 32 feet, ESFR sprinkler systems and 4,000 amps of power with the ability to bring more power to the site. Phase I will include: – Building I: a 101,600-square-foot asset (expandable to 104,600 square feet), including 6,000 square feet of speculative office space (expandable to 12,000 square feet), 178 auto parking stalls, 11 dock-high and two grade-level doors, a 125-foot truck court and 10 EV charging stations; – Building 2: a 74,913-square-foot property with 5,020 square feet of office space, 119 auto parking stalls, eight dock-high doors and one grade-level door, a 125-foot truck court and 13 EV charging stations; – Building 3: a 76,959-square-foot facility (expandable to 78,959 square feet) with 4,000 square feet of speculative office space (expandable to 8,000 square feet), 140 auto parking …

July 23, 2025

Acquisitions Multifamily Nevada Student Housing Western

Kidder Mathews Arranges $14M Sale of LEV Apartments in Reno, Nevada

by Amy Works July 23, 2025

RENO, NEV. — Kidder Mathews has arranged the sale of LEV Apartments, a multifamily property located at 1617 N. Virginia St. in Reno. A Sacramento, Calif.-based private real estate investment firm acquired the asset from a student housing developer for $14 million. Situated adjacent to the University of Nevada, Reno, LEV Apartments features 128 studio/one-bath units and a one-bedroom/one-bath unit all with shared kitchen areas. At the time of sale, the property was 98 percent occupied. The asset was originally built in 1980 by the Saltern family. Ben Nelson of Kidder Mathews represented the seller and buyer in the transaction.

July 23, 2025

Acquisitions Civic Colorado Western

Cushman & Wakefield, Berkshire Hathaway Broker $5M Sale of Former Public School in Loveland, Colorado

by Amy Works July 23, 2025

LOVELAND, COLO. — Cushman & Wakefield and Berkshire Hathaway have arranged the sale of 1500 Monroe Avenue, a former public school property in Loveland. Thompson School District sold the asset to St. John Paul II High School for $5 million. Built in 1963 on 6.6 acres, the 53,000-square-foot property was formerly utilized by Thompson School District. Travis Ackerman of Cushman & Wakefield and Jack Tretheway of Berkshire Hathaway represented the seller in the deal.

July 23, 2025

Acquisitions California Retail Western

Hanley Investment Group Negotiates $3.8M Sale of Two-Tenant Retail Pad Site in Metro Sacramento

by Amy Works July 23, 2025

ROCKLIN, CALIF. — Hanley Investment Group Real Estate Advisors has negotiated the $3.8 million sale of a two-tenant retail pad site in Rocklin, approximately 25 miles northeast of downtown Sacramento, for $3.8 million. Situated at 2303 Sunset Blvd., the 6,122-square-foot building is occupied by U.S. Bank and a drive-thru Animal Urgent Care, each on a triple-net-lease. Built in 2022, the property sits on roughly 1 acre. Nearby tenants include Taco Bell, Safeway, Costco, Target, The Home Depot, WinCo Foods and Chipotle Mexican Grill. Eric Wohl and CJ Kiehler of Hanley represented the seller, a locally based private developer, in the transaction. Avi Narang of BRC Advisors Real Estate Investment Services represented the buyer, a private investor.

July 23, 2025

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