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3351-E-Philadelphia-St-4450-E-Lowell-St-Ontario-CA
AcquisitionsCaliforniaIndustrialWestern

Stockbridge Buys 540,478 SF Industrial Portfolio in Ontario, California for $142.2M

by Amy Works

ONTARIO, CALIF. — San Francisco-based Stockbridge has acquired a core industrial portfolio in the Inland Empire from Principal Asset Management for $142.2 million. Located at 3351 E. Philadelphia St. and 4450 E. Lowell St. in Ontario, the two-building portfolio offers 540,478 square feet of industrial space. At the time of sale, the properties were both 100 percent occupied. Jeff Chiate, Jeffrey Cole, Rick Ellison and Matt Leupold of Cushman & Wakefield’s National Industrial Advisory Group – West represented the seller in the transaction. Phil Lombardo, Chuck Belden and Andrew Starnes of Cushman & Wakefield provided leasing advisory. Rob Rubano, Brian Share, Joseph Lieske, Max Schafer and Becca Tse of Cushman & Wakefield Equity, Debt & Structured Finance collaborated in sourcing acquisition financing for the transaction.

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7949-Stromesa-Ct-San-Diego-CA
AcquisitionsCaliforniaIndustrialWestern

Joint Venture Acquires 107,564 SF Multi-Tenant Industrial Building in San Diego for $26.5M

by Amy Works

SAN DIEGO — A joint venture between Birtcher Anderson & Davis and Nuveen has purchased 7949 Stromesa Court, an industrial building in San Diego’s Miramar submarket, from an undisclosed seller for $26.5 million. Situated on 5.3 acres, the single-story, 107,564-square-foot building was 95 percent leased to 12 tenants. The property features grade- and dock-level loading, 22-foot warehouse clear heights and the ability to accommodate 53-foot truck trailers. Evan McDonald and Kurtis Blanchard of Colliers represented the buyer, while Dean Asaro of Kidder Mathews represented the seller in the transaction.

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CaliforniaDevelopmentMultifamilySeniors HousingWestern

Belmont Village, Greystar Plan 185-Unit Active Adult Community in Rancho Santa Fe, California

by Amy Works

RANCHO SANTA FE, CALIF. — Belmont Village Senior Living and Greystar Real Estate Partners have unveiled plans for Belmont Village Rancho Santa Fe, a luxury active adult community in Rancho Santa Fe, approximately 25 miles north of San Diego. Groundbreaking is scheduled to occur before the end of the year. The project will feature over 185 apartments including 15 freestanding cottages. The leaders of both Greystar and Belmont Village, Jerry Brand and Patricia Will, are long-term residents of Rancho Santa Fe. Belmont Village Rancho Santa Fe will be Belmont Village’s fourth community in the San Diego area and 17th in California since 2002. The company enjoys a relationship for program development with the University of California San Diego’s Stein Center for Research on Aging. HPI Architecture designed the development.

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1844-S-Cherry-Ave-Fresno-CA
AcquisitionsCaliforniaIndustrialSelf-StorageWestern

JLL Capital Markets Brokers $8.2M Sale of Cherry Ave Self Storage in Fresno, California

by Amy Works

FRESNO, CALIF. — JLL Capital Markets has arranged the sale of Cherry Ave Self Storage, a self-storage facility on 5.4 acres at 1844 S. Cherry Ave. in Fresno. A public REIT sold the asset to PSC Fresno LLC, an affiliate of Pratt Street Capital LLC, for $8.2 million. Cherry Ave Self Storage consists of a three-story building and 12 one-story buildings offering a total of 1,085 units. The facility features drive-up units, freight elevators and boat and RV parking. Additionally, the property offers a 262-square-foot, newly renovated office. Brian Somoza of JLL Capital Markets’ investment sales and advisory team represented the seller in the deal.

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Blueprint-Healthcare-Las-Cruces-NM
AcquisitionsMultifamilyNew MexicoSeniors HousingWestern

Blueprint Arranges Sale of 50-Bed Transitional Care Community in Las Cruces, New Mexico

by Amy Works

LAS CRUCES, N.M. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 50-bed transitional care facility in Las Cruces, approximately 45 miles northwest of El Paso, Texas. The community was built in 2017 and is strategically located within two miles of three short-term acute care hospitals that offer Medicare referral opportunities. With trailing EBITDAR (earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs) approaching $745,000 at the time of marketing, the facility presented an acquisition opportunity for a regionally focused owner-operator to realize immediate cash flow upon acquisition, expand upon an existing geographical footprint, and still have the ability to achieve significant value by stabilizing the asset. The buyer was an owner-operator that Blueprint previously worked with in New Mexico. The seller and price were not disclosed. Amy Sitzman and Giancarlo Riso led the Blueprint team.

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Rambler-Tempe-AZ
ArizonaDevelopmentMultifamilyStudent HousingWestern

LV Collective to Develop 829-Bed Rambler Tempe Student Housing Property Near Arizona State University 

by Amy Works

TEMPE, ARIZ. — LV Collective, in partnership with Kayne Anderson Real Estate and Pacific Life, is set to break ground on Rambler Tempe, an 829-bed student housing development serving students attending Arizona State University. The community, which is scheduled for completion in fall 2026, will span 552,380 square feet at 1020 E. Apache Blvd. in Tempe. Work on the project began in March. Upon completion, the property will offer units in studio, one-, two-, three- and four-bedroom configurations. Shared amenities will include a café, coworking space, private study rooms, content creation rooms, two swimming pools and hot tubs, a rooftop terrace, clubroom, resident lounge and two-level fitness facility with yoga and on-demand fitness studios. The development team for the project includes Shepley Bulfinch, Layton and Variant Collaborative. 

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Aegis-Living-Laurelhurst-Seattle-WA
DevelopmentMultifamilySeniors HousingWashingtonWestern

Aegis Living Opens 136-Unit Seniors Housing Project in Seattle

by Amy Works

SEATTLE — Aegis Living has opened Aegis Living Laurelhurst in the Laurelhurst neighborhood of Seattle, near the University of Washington (UW). The six-story building features 147,911 square feet of space and 136 assisted living apartments.  Aegis Development LLC is the developer, Ankrom Moisan Architects is the architecture firm and Exxel Pacific is the general contractor. Aegis Living Laurelhurst is Aegis’ 38th community and the second one to open this year.

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AcquisitionsCaliforniaRetailWestern

Strategic Retail Advisors Negotiates $18M Sale of Vacant Walmart Building in Garden Grove, California

by Amy Works

GARDEN GROVE, CALIF. — Strategic Retail Advisors (SRA) has arranged the sale of a retail building located at 10912 Katella Ave. in the Orange County city of Garden Grove. OC Freedomhouse Church acquired the former Walmart Neighborhood Market from a private investor for $18 million. OC Freedomhouse plans to operate a new religious facility, including church services, an accredited Bible college and a child daycare all within an existing 46,287-square-foot tenant space. Blaine Bush of SRA handled the transaction.

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AcquisitionsCaliforniaIndustrialWestern

Captiva Partners Acquires 66,400 SF Small-Bay Industrial Property in North Hollywood

by Amy Works

LOS ANGELES — Captiva Partners has purchased a multi-tenant, small-bay industrial building in the North Hollywood neighborhood of Los Angeles for $15.7 million. The name of the seller was not released. Situated on 3.3 acres at 8210-8222 Lankershim Blvd., the 66,400-square-foot asset offers three buildings with 41 suites ranging from 1,200 square feet to 2,400 square feet. Captiva plans to implement a value-add business plan, including a capital improvement program that will address deferred maintenance and improve the property’s functionality and attractiveness.

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2760-S-La-Luna-Goodyear-AZ
AcquisitionsArizonaIndustrialWestern

NAI Horizon Brokers $4.7M Sale of Industrial Building in Goodyear, Arizona

by Amy Works

GOODYEAR, ARIZ. — NAI Horizon has arranged the purchase of an industrial property located at 2760 S. La Luna in Goodyear, a suburb of Phoenix. Packing Solutions for Any Product (PSAP) acquired the asset from Waddell-based A1 Desert Investments for $4.7 million. Built in 2022, the freestanding general industrial office and warehouse facility offers 12,052 square feet of space. Headquartered in Guadalajara, Mexico, PSAP operates 13 manufacturing facilities throughout Mexico and the United States. Jeffrey Garza Walker of NAI Horizon represented the buyer, while Chris Toci of Cushman & Wakefield represented the seller in the deal.

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