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

Acquisitions Hawaii Industrial Self-Storage Western

Marcus & Millichap Arranges Sale of StorQuest Self-Storage Facility in Kea’au, Hawaii

by Amy Works March 12, 2025

KEA’AU, HAWAII — The LeClaire-Schlosser Group of Marcus & Millichap has arranged the sale of a StorQuest-managed self-storage facility located at 16-180 Mikahala Place in Kea’au. Dallas-based Baranof Holdings acquired the asset from a Hawaii-based limited liability company for an undisclosed price. StorQuest Self Storage offers 879 units spread across 77,363 net rentable square feet. Charles LeClaire and Adam Schlosser of Marcus & Millichap’s Denver office represented the seller and the buyer in the deal. Adam Attia of Marcus & Millichap served as broker of record for the transaction.

March 12, 2025

Acquisitions Multifamily Washington Western

Kidder Mathews Negotiates $3.3M Sale of Riverton View Apartments in Tukwila, Washington

by Amy Works March 12, 2025

TUKWILA, WASH. — Kidder Mathews’ Simon | Anderson Multifamily team represented the undisclosed seller in the disposition of Riverton View Apartments in Tukwila. An undisclosed buyer acquired the asset for $3.3 million, or $139,167 per unit. Located at 3455 S. 144th St., Riverton View Apartments offers 24 residences. The value-add property was built in 1963. Dylan Simon and JD Fuller of Kidder Mathews’ Simon | Anderson Multifamily handled the transaction.

March 12, 2025

Acquisitions Colorado Retail Western

Pinnacle Real Estate Advisors Brokers $2.3M Sale of Retail Center in Superior, Colorado

by Amy Works March 12, 2025

SUPERIOR, COLO. — Pinnacle Real Estate Advisors has brokered the $2.3 million sale of a 7,512-square-foot retail strip center and liquor store business at 1679 Coalton Road in Superior. Levi Saxen and Jack Eberwein of Pinnacle Real Estate Advisors represented the buyer and seller in the off-market transaction. The names of the buyer and seller were not released.

March 12, 2025

California Multifamily Seniors Housing

Harbert South Bay Partners to Open 140-Unit Assisted Living, Memory Care Community in Dublin, California

by Amy Works March 11, 2025

DUBLIN, CALIF. — Developer Harbert South Bay Partners will open The Whitford of Dublin, a new assisted living and memory care community, in Dublin in fall 2026. Totaling 140 units, the property will feature residences in studio, one- and two-bedroom layouts. The largest floor plans will comprise 1,499 square feet. Momentum Senior Living will manage the community.

March 11, 2025

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