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Shopoff_Desert-Hot-Springs-Calif
AcquisitionsCaliforniaDevelopmentIndustrialTop StoriesWestern

Shopoff Realty Acquires 55 Acres in Southern California’s Inland Empire East, Plans 1.1 MSF Industrial Development 

by Hayden Spiess

DESERT HOT SPRINGS, CALIF. — Shopoff Realty Investments has acquired a 55-acre property in Desert Hot Springs, a city in the Inland Empire East region of Southern California, with plans to develop an industrial project at the site.  Upon completion, the development will comprise 1.1 million square feet of distribution and warehouse space. The property, which is situated with proximity to the site of an Amazon warehouse and with direct access to I-10, will feature 167 docks, 498 trailer stalls and a clear height of 42 feet.  “This Desert Hot Springs project represents a rare opportunity to acquire a property that is already entitled and ready for development, in an area with significant demand from e-commerce companies for logistics and warehouse space,” says William Shopoff, president and CEO of the firm. “With neighbors such as Amazon and FedEx, this location has the potential to provide a great investment for many years to come and will offer third-party logistics companies significant drayage savings compared to projects in Arizona and Las Vegas.” Construction on the project is scheduled to begin in the third quarter of this year, with an anticipated timeline of 12 months.  Ian DeVries and Christ DeVries of Colliers, along …

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2587-Telegraph-Ave-Berkeley-CA
AcquisitionsCaliforniaDevelopmentMultifamilyStudent HousingWestern

CBRE Brokers Sale of Development Site for 232-Bed Student Housing Project Near UC Berkeley

by Amy Works

BERKELEY, CALIF. — CBRE has arranged the sale of a 0.43-acre development site at 2587 Telegraph Ave. in Berkeley, approximately five blocks south of the University of California, Berkeley campus. 2565-2589 Telegraph Black LLC, a local private investor and related party of Anchor Valley Partners, sold the asset for an undisclosed price. An undisclosed buyer plans to build a 52-unit, 232-bed student housing development on site. The project is approved and entitled for an eight-story, 112,562-square-foot, mixed-use building featuring studio, four-, five- and six-bedroom units, including six affordable housing units. Additionally, the finished project will include 2,902 square feet of ground-floor commercial space, 5,105-square-foot of outdoor space, a fitness room, an amenity room, study pods and bike parking. Keith Manson, Zachary Greenwood and Mac Watson of CBRE’s Oakland office represented the seller in the transaction.

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Fairwinds-Rio-Ranch-NM
LoansMultifamilyNew MexicoSeniors HousingWestern

JLL Arranges Refinancing for 220-Unit Seniors Housing Property in Rio Rancho, New Mexico

by Amy Works

RIO RANCHO, N.M. — JLL Capital Markets has arranged a refinancing for Fairwinds Rio Rancho, a three-story, 220-unit independent living and assisted living community located in Rio Rancho, a suburb north of Albuquerque. JLL represented the borrower, Lytle Enterprises, and secured the five-year, fixed-rate loan through a life insurance company. The amount of the loan was not disclosed. Fairwinds Rio Rancho totals 211,213 square feet. It was built in 1997 and renovated in 2019. Alanna Ellis, Jay Wagner, Aaron Rosenzweig and Alex Sheaffer led the JLL team.

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Citrus-Strip-Center-Escondido-CA
AcquisitionsCaliforniaRetailWestern

Cavalier Investments Sells Citrus Strip Center Retail Property in Escondido, California for $6.2M

by Amy Works

ESCONDIDO, CALIF. — Cavalier Investments, a Colorado-based investor, has completed the disposition of Citrus Strip Center, a retail property in Escondido, approximately 35 miles north of San Diego. Eiad and Vera H Family Trust acquired the asset for $6.2 million. Located at 2315-41 E. Valley Parkway, the 27,310-square-foot retail center features 16 suites and two kiosks that are occupied by restaurants, professional services, beauty and fitness retailers, and a laundromat. Nick Totah of Marcus & Millichap’s San Diego Del Mar office represented the seller and procured the buyer in the deal.

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The-Rise-Walnut-Creek-CA
AcquisitionsCaliforniaMultifamilyWestern

IPA Negotiates Sale of 97-Unit The Rise Walnut Creek Apartments in California

by Amy Works

WALNUT CREEK, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of The Rise Walnut Creek, a multifamily property in the East Bay city of Walnut Creek. Rescore sold the asset to Hines for an undisclosed price. Completed in 2023, The Rise Walnut Creek features 97 apartments with washers/dryers, white oak wide plank flooring, stainless steel appliances and large windows. Community amenities include a landscaped roof deck, fitness center, walk-in storage lockers and a subterranean parking garage with electric vehicle charging stations. The Rise Walnut Creek also features 8,000 square feet of retail space. Alex Tartaglia, Stanford Jones, Philip Saglimbeni and Salvatore Saglimbeni of IPA represented the seller and procured the buyer in the transaction.

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PAM-Health-Rehab-Hospital-Westminster-CO
AcquisitionsColoradoHealthcareWestern

Vitalis Properties Acquires 36-Bed PAM Health Rehabilitation Hospital in Westminster, Colorado

by Amy Works

WESTMINSTER, COLO. — Vitalis Properties has purchased PAM Health Rehabilitation Hospital of Westminster for an undisclosed price. Located at 6500 W. 104th Ave. in the Denver suburb of Westminster, the freestanding, two-story, 37,130-square-foot hospital features 36 private rooms. CJ Kodani led the JLL Capital Markets team that represented the undisclosed seller and procured the buyer in the deal.

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26201-Ynez-Rd-Temecula-CA
AcquisitionsCaliforniaIndustrialWestern

Cushman & Wakefield Brokers Sale of 387,454 SF Industrial Portfolio Near San Diego for $74M

by Amy Works

SAN MARCOS AND TEMECULA, CALIF. — Cushman & Wakefield has negotiated the sales of two industrial projects spanning six buildings and 387,454 square feet in San Marcos and Temecula. The assets were sold separately between January and May to two separate undisclosed buyers for a combined total of $74 million. In January, Investcorp acquired Pro·duc·tion, a four-building, Class A industrial project in San Marcos for $50 million. Fully leased at the time of sale, the property offers 221,294 square feet of industrial space. Built in 2018, the asset is located at 195 Bosstick Blvd. and 2946, 2950 and 2954 Norman Strasse Road. In May, Cire Equity purchased two industrial buildings at 26201 Ynez Road and 42259 Rio Ned Road in Temecula for $24 million. Aric Starck, Jeffrey Cole and Drew Dodds of Cushman & Wakefield Capital Markets represented the undisclosed seller in the transactions.

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Cogir-Sr-Housing-Kirkland-WA
DevelopmentMultifamilySeniors HousingWashingtonWestern

Cogir Completes 76-Unit Seniors Housing Community in Kirkland, Washington

by Amy Works

KIRKLAND, WASH. — The Cogir Family of Companies has completed work on Cogir of Kirkland, a 76-unit independent living and assisted living community in Kirkland, a suburb east of Seattle. Located in the city’s Lakeview neighborhood, the community offers units ranging from 375 to 475 square feet. Cogir will hold a ribbon cutting on June 20 at the property.

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Gilbert-Distribution-Center-Gilbert-AZ
AcquisitionsArizonaGeorgiaIndustrialWestern

Dalfen Industrial, RGA Form Joint Venture for 253,055 SF Industrial Portfolio in Arizona, Georgia

by Amy Works

GILBERT, ARIZ., AND ALPHARETTA AND NORCROSS, GA. — Cushman & Wakefield has advised Dalfen Industrial in the disposition and recapitalization of a multi-tenant industrial portfolio, totaling 253,055 square feet across two projects in Atlanta and Phoenix metro markets. The dual-project portfolio was owned in Dalfen Industrial’s Value-Add Fund IV and was recapitalized in a joint venture between Dalfen Industrial and RGA ReCap Inc. on behalf of Reinsurance Group of America Inc. Terms of the transaction were not released. Located in Gilbert, Gilbert Distribution Center is a freestanding Class A industrial building at 1495 E. Baseline Road. Two tenants fully occupy the property, which features multiple points of ingress/egress, multiple storefronts, loading, functional column spacing and concrete truck aprons on a 140-foot truck court. The North Atlanta Infill Portfolio is a collection of four multi-tenant, rear-load, light industrial buildings located at 6205 and 6215 Shiloh Crossing in Alpharetta and 2915 Courtyards Drive and 3055 Northwoods Circle in Norcross. The properties are a combined 86 percent leased to eight tenants, three of which recently extended their lease terms. The buildings offer 18- to 22-foot clear heights, rear loading, a mix of drive-in and dock-high doors, and multiple glass store fronts. Will Strong, Michael …

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AcquisitionsColoradoMultifamilySeniors HousingWalker & DunlopWestern

Walker & Dunlop Negotiates Sale of 125-unit Lakeview Senior Living in Lakewood, Colorado

by Amy Works

LAKEWOOD, COLO. — Walker & Dunlop has negotiated the sale of Lakeview Senior Living, a 125-unit independent living community in the Denver suburb of Lakewood. Livingston Street Capital acquired the community, which was built in 2008. The seller and price were not disclosed. Joshua Jandris led the Walker & Dunlop team.

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