REBusinessOnline

Stafford Holdings Buys 88,696 SF Office Building in Phoenix for $22.1M

PHOENIX — Idaho-based Stafford Holdings has purchased North Loop 101 Building D, an office building located at 19820 N. 7th Ave. in Phoenix. Los Angeles-based Regent Properties sold the property for $22.1 million.Barry Gabel, Chris Marchildon and Will Mast of CBRE represented the seller, while Blake Hupfer of Premiere Property Group represented the buyer in the deal.The two-story building features 88,696 square feet of Class A office space. At the time of sale, the property was fully …

Oxford Properties Group Acquires Industrial Park in Metro LA for $133.5M

SANTA CLARITA, CALIF. — Oxford Properties Group, a real estate investment and management firm based in Toronto, has purchased Santa Clarita Innovation Park, a 14-building campus situated on 118.5 acres in the Los Angeles suburb of Santa Clarita.Funds managed by Oaktree Capital Management and Intertex Cos. sold the property, which was formerly known as Mann Biomedical Park, for $133.5 million.The acquisition of Santa Clarita Innovation Park falls in line with Oxford’s investment …

Bascom Group Sells Fifty101 Apartments in Las Vegas to Apartment Ventures for $21.6M

LAS VEGAS — The Bascom Group has completed the disposition of Fifty101, a multifamily community located at 5101 O’Bannon Drive in Las Vegas. Apartment Ventures acquired the asset for $21.6 million.The 90-unit community consists of 16 one-bedroom apartments, 50 two-bedroom units and 24 three-bedroom/two-bath layouts in a variety of floor plans. The Bascom Group had completed property-wide renovations, including capital improvements in dual-pane windows and public update upgrades and …

DXD Capital Breaks Ground on 1,100-Unit Self-Storage Facility in Las Vegas

LAS VEGAS — DXD Capital has broken ground on a self-storage facility located on a 1.7-acre parcel at the corner of West Sahara Avenue and South Monte Cristo Way in Las Vegas.Designed by Studio Level I with Arco Murray serving as general contractor, the new property will feature 1,100 units, plus two interior loading bays with room for three trucks in a fully climate-controlled building with two freight elevators and a storefront with moving supplies. Public Storage will operate the …

Exeter 4837 Watt Buys Flex Industrial Building in North Highlands, California for $12.4M

NORTH HIGHLANDS, CALIF. — Exeter 4837 Watt LLC has acquired a flex industrial facility located at 4837 Watt Ave. in North Highlands. Stoneridge Watt Avenue LLC sold the asset for $12.4 million.Built in 1987 for Price Club, the property was renovated in 1997 for industrial and flex use. Situated on 12.8 acres, the 129,491-square-foot property is half a mile from Interstate 80.Alan Pekarcik and Chris Smith of Avison Young’s Irvine, Calif., office represented the buyer, while Cushman …

Marcus & Millichap Arranges $8.1M Sale of Retail Property in Phoenix

PHOENIX — Marcus & Millichap has brokered the sale of a retail property located at 5120 and 5110 W. Indian School Road in Phoenix. A limited liability company sold the property to a personal trust for $8.1 million.WSS Shoes and Habit Burger occupy the 13,100-square-foot shopping center, which is across the street from American Family Fields of Phoenix Baseball Park, spring training home to the Milwaukee Brewers.Mark Ruble and Chris Land of Marcus & Millichap’s Phoenix’s …

CIP Brokers Sale of 25-Room Ranch Motel in Oakland, Oregon

OAKLAND, ORE. — Crystal Investment Property (CIP) has arranged the sale of Ranch Motel, a motel in Oakland, a tiny city approximately midway between Eugene and Medford. Joseph Kennedy of CIP represented the buyer and seller in the deal. The acquisition price was not released.The exterior corridor motel is located north of Oakland and features 25 A-frame-style rooms and limited service. The property’s updated lobby and cabins feature a mid-century peaked metal

CapRock Partners Breaks Ground on 3.4 MSF Spec Industrial Complex in Phoenix

PHOENIX, ARIZ. — CapRock Partners has broken ground on CapRock West 202 Logistics, a 183-acre speculative industrial project in Phoenix. The eight-building, Class A industrial warehouse complex will total 3.4 million square feet.The project will be developed in two phases. Phase I will start in November 2021, with completion and delivery anticipated by the end of 2022. The first phase will include the first five buildings, totaling approximately 2.5 million square feet.The timeline …

Benderson Development Buys 450,000 SF Power Center Ground Lease in Santa Fe

SANTA FE, N.M. — Benderson Development has acquired two tracts of land ground-leased to Plaza Santa Fe, a 450,000-square-foot power center in Santa Fe. Truzaf LP sold the asset for an undisclosed price.The leases commenced in two phases, one in 1998 with the region’s only Target store and a newly refurbished Albertsons Market Street, and the second in 2000 with the opening of TJ Maxx, Ross Dress for Less, BestBuy, Michaels and PetSmart.Located at the intersections of Cerrillos Road, …

Virtu Investments Acquires BLU Bellevue Multifamily Community in Washington for $109M

BELLEVUE, WASH. — Continental Properties has completed the sale of BLU Bellevue, an apartment property located in downtown Bellevue. Virtu Investments acquired the community for $109 million, or $1,004 per square foot.Built in 2020 by Continental Properties, BLU Bellevue features 135 apartments, a rooftop terrace, 24-hour fitness center, pet facilities, parking garage with electric charging stations, and 360-degree cityscape and mountain views. Units feature floor-to-ceiling, triple-pane …

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