Western

Newmark Arranges Sale of 126-Unit Rivergate Apartments in Sacramento

by Amy Works November 5, 2025

SACRAMENTO, CALIF. — Newmark has arranged the sale of Rivergate Apartments, a 126-unit property at 900 Simon Terrace in West Sacramento. Will Blucher and Wills Vlasek of Newmark represented the seller, McCarty Sacramento Property LLC, in the disposition to a private buyer, IMG II, LLC. The acquisition price was not released. Rivergate is approximately three miles from Sacramento’s central business district and offers 72 one- and 54 two-bedroom floor plans across 10 two-story buildings on a 3.6-acre parcel. Amenities include a gated pool, standalone leasing office, common area laundry facilities and interior courtyards.

November 5, 2025

Heartland Feature Archive Market Reports Nevada Restaurant Retail Western Western Market Reports

Northern Nevada Retail Market Gains Momentum Heading Into 2026

by John Nelson November 5, 2025

— By Sam Meredith of Colliers — After a slow and uncertain start to 2025, the retail market in Reno and Sparks is finally finding its stride. The first half of the year saw many tenants hit pause on leasing decisions as economic jitters made retailers cautious. By the third quarter, however, the mood had shifted. Leasing activity picked up noticeably, and tenants are now back in the market, actively looking for space. That momentum is expected to carry through the fourth quarter and into 2026, with healthy absorption on the horizon. This turnaround is backed by solid market indicators. Net absorption turned positive in the second quarter, while asking rents rose quarter over quarter. Vacancies nudged upward due to big-box closures, including three Big Lots and a Joann store early in the year, but the overall retail vacancy still sits at a manageable 5.4 percent. In fact, several submarkets, including North Valleys, Northwest Reno, South Reno and Southwest Reno, are reporting vacancy rates below 2 percent, showing strong demand in key areas. Retailers are clearly taking notice. Trader Joe’s, which once considered Northern Nevada a one-store market, has now opened two additional locations in Spanish Springs and South Reno. …

November 5, 2025

Arizona Development Industrial Loans Western

ViaWest Group, Barings Receive $107M in Construction Financing for Industrial Project in Phoenix

by Amy Works November 4, 2025

PHOENIX — ViaWest Group and Barings have received $107 million in construction financing for ReDiscover Logistics Park, an industrial development located at 2402 W. Beardsley Road in Phoenix. Kevin MacKenzie, Jason Carlos and Lilley Kroll of JLL Capital Markets arranged the loan through a life insurance company. Situated on 43.5 acres, ReDiscover Logistics Park will offer 808,448 square feet of industrial space spread across four individual buildings ranging from 189,280 square feet to 212,000 square feet with clear heights of 32 to 36 feet, designed to accommodate a diverse range of manufacturing and distribution tenants. The development will incorporate flexible space configurations, a 200-foot shared truck court depth, FM Global compliant sprinkler systems and 980 parking spaces. Construction is underway, with completion slated for first-quarter 2027.

November 4, 2025

Colorado Industrial Loans Western

Essex Arranges $71M Refinancing for Denali Logistics Park in Aurora, Colorado

by Amy Works November 4, 2025

AURORA, COLO. — Essex Real Estate Capital Advisors has sourced a $71 million loan for the refinancing of Denali Logistics Park, a Class A industrial asset in Aurora. Blair Butler and Matt Perigard of Essex arranged the nonrecourse, interest-only bank loan loan for Hines, which developed and owns the property. The three-year, floating-rate loan was used to retire the construction debt in a cash-neutral transaction. The loan also included future funding to draw upon for leasing, securing the property’s long-term capitalization, allowing Hines to continue to execute its leasing plan and fully stabilize the asset. Denali Logistics Park features three buildings totaling 759,620 square feet. The two front-park rear-load buildings and one cross-dock building each have different depths, allowing for devisability to accommodate tenants ranging from 30,000 square feet to 200,000 square feet. Additionally, the property includes secured trailer parking that is available to all tenants and an onsite basketball court.

November 4, 2025

Acquisitions California Multifamily Western

Concord Capital Partners Acquires Apartment Community in Los Angeles for $52.1M

by Amy Works November 4, 2025

LOS ANGELES — Concord Capital Partners has purchased The View, a 13-story, 168-unit Class A apartment property in Los Angeles’ Koreatown neighborhood, from an undisclosed seller for $52.1 million, or $310,000 per unit. Located at 3460 W. 7th St., The View features 12 studios, 120 one-bedroom/one-bath units and 36 two-bedroom/two-bath units with oversized floor plans, modern interiors and city views. JLL represented the seller and secured acquisition financing for the buyer.

November 4, 2025

Acquisitions Arizona Multifamily Western

Millburn & Co. Buys 215-Unit Alta Biltmore Multifamily Property in Phoenix

by Amy Works November 4, 2025

PHOENIX — Millburn & Co. has acquired Alta Biltmore, an apartment community in Phoenix’s Camelback Corridor submarket, from a national multifamily developer for an undisclosed price. Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen of CBRE represented the seller in the transaction. Constructed in 2024, Alta Biltmore offers 215 apartments, a central courtyard with a resort-style pool and spa, tanning deck and a rooftop terrace with barbecue grills, covered seating and panoramic mountain views. The resident clubhouse features an entertainment kitchen and a speakeasy as well as a 24/7 fitness center with cardio and weight training equipment and a separate yoga studio. Additional amenities include micro-offices, private conference suites, bike storage and repair shop and electric vehicle charging stations.

November 4, 2025

Acquisitions California Industrial Western

JLL Brokers $8.5M Sale of Industrial Biomanufacturing Facility in Pleasanton, California

by Amy Works November 4, 2025

PLEASANTON, CALIF. — JLL Capital Markets has directed the sale of Tri-Valley GMP, an industrial biomanufacturing facility located at 4698 Willow Road in Pleasanton. An undisclosed seller sold the asset to Cannae Partners and REALM for $8.5 million. Erik Hanson of JLL led the transaction. The cGMP facility previously served as Gritstone bio’s Tri-Valley hub until its February 2025 vacancy. The 42,620-square-foot property benefits from improvements totaling more than $325 per square foot invested into the current build-out, transforming it into a state-of-the-art laboratory and manufacturing complex featuring 12 production rooms, ISO 5+ cleanroom space and comprehensive quality assurance and quality control laboratories.

November 4, 2025

Acquisitions California Multifamily Western

Amorosa Cos. Purchases 119-Unit Apartment Complex in Los Angeles

by Amy Works November 3, 2025

LOS ANGELES — Amorosa Cos. has acquired 9733 Topanga Canyon, a multifamily property located in the Chatsworth neighborhood of Los Angeles, from a private multifamily investment firm for $44 million, or $369,748 per unit. Kevin Green, Joseph Grabiec and Gregory Harris of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. Brian Eisendrath and Cameron Chalfant of IPA Capital Markets arranged $27.4 million in agency financing for the buyer. Constructed in 2009, 9733 Topanga Canyon features 119 apartments with open floor plans, nine-foot ceilings, full-size stackable washers/dryers, breakfast bars and private balconies. Community amenities include a large central courtyard, swimming pool, spa, dog run, package receiving lockers and covered bike storage.

November 3, 2025

Acquisitions California Multifamily Western

Advanced Real Estate Buys Multifamily Community in West Covina, California for $41M

by Amy Works November 3, 2025

WEST COVINA, CALIF. — Advanced Real Estate has acquired The Cove at West Covina, an apartment property located at 1829 E. Workman Ave. in West Covina, for $41 million. The buyer assumed a $21 million Freddie Mac loan with a fixed interest rate of 4.75 percent and full-term interest-only payments. Additional terms of the transaction were not released. The gated community features 138 apartments, two polos with cabanas, a fitness center, fire pits, garages and a large open landscaped area. Advanced plans to upgrade the property with the addition of in-unit washers and dryers, new cabinetry, flooring, fixtures, appliances, windows and a modern paint scheme. Advance’s in-house construction company, R3 Construction, and in-house management company, Advanced Management Co., will complete the upgrades. Shane Shafer, previously of Northmarq and now with Colliers, brokered the deal.

November 3, 2025

Acquisitions Arizona Industrial Western

Lincoln Acquires 191,000 SF Partially Occupied Data Center in Chandler, Arizona

by Amy Works November 3, 2025

CHANDLER, ARIZ. — Lincoln Property Co. has purchased a partially occupied data center located at 2500 W. Frye Road in Chandler. The 191,000-square-foot property offers 28MW of confirmed utility power, served by an existing and dedicated onsite Salt River Project substation. The asset features four data center halls, one of which is fully leased to a Fortune 500 enterprise user. Lincoln plans to fit out the remaining three halls, adding 16MW of critical capacity and positioning the building for immediate lease-up, with an initial 4.2MW targeted for delivery in early first-quarter 2026. The company will also transition the project from an evaporative cooled to air cooled mechanical system, creating the potential for up to 3 million gallons of water savings per month for the City of Chandler. Additionally, the site is approved for additional development as part of an agreement initiated by the property’s previous owner. Kristina Metzger, Ben Wobschall and Mark Krison of CBRE represented the seller in the Frye Road facility sale. Lincoln will serve as the building’s property manager, while leasing will be handled by Lincoln’s data center leasing team.

November 3, 2025

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