Western

T&T Hospitality Services Acquires Office Building in Vancouver, Washington for $21.1M

by Amy Works October 16, 2023

VANCOUVER, WASH. — Colorado-based T&T Hospitality Services has purchased 4000 Columbia House Boulevard, a Class A office property in Vancouver. An undisclosed seller sold the asset for $21.1 million, or $478 per square foot. Nick Kucha, James Childress and Jakob Nicholls of Newmark represented the seller in the transaction. The buyer acquired the asset in a 1031 exchange, using proceeds from a hotel sale. Delivered in 2018, the 44,100-square-foot building is located within Vancouvers’s Lower Grand Employment Area that includes Grand Central Shopping Center and the Columbia Business Center.

October 16, 2023

California Development Multifamily Seniors Housing Western

Belmont Village Tops Out 177-Unit Seniors Housing Community in San Ramon, California

by Amy Works October 16, 2023

SAN RAMON, CALIF. — Belmont Village Senior Living has completed vertical construction of Belmont Village San Ramon, its fifth seniors housing community in the Bay Area. The property is located within the Bishop Ranch master-planned community, which includes retail, dining and entertainment. Harrison Street Real Estate is the development partner, with Synovus Bank and Cadence Bank providing debt. Belmont Village San Ramon is a six-story, 175,320 square-foot senior living community that is scheduled to open in late 2024. With views of Mount Diablo and surrounding hills, Belmont Village San Ramon offers independent living, assisted living and memory care across 177 units in a variety of studio, one-bedroom and two-bedroom layouts.

October 16, 2023

Acquisitions Arizona Industrial Western

Midloch Investment Partners, ATLAS Buy Two Industrial Properties in Gilbert, Arizona

by Amy Works October 16, 2023

GILBERT, ARIZ. — Midloch Investment Partners, in joint venture partnership with Scottsdale-based ATLAS, has acquired two industrial buildings and two additional acres of industrial outdoor storage in Gilbert. It is Midloch’s first acquisition in metro Phoenix. Terms of the transaction were not released. Located at 455 and 481 E. Baseline Road, the assets are a 36,325-square-foot facility occupied by Gannett Co., which publishes the Arizona Republic among other media; and a 25,220-square-foot building occupied by four tenants. Additionally, the sale included two outdoor storage yards that two tenants occupy.

October 16, 2023

California Industrial Loans Western

JLL Arranges $32.9M Loan for Single-Tenant Industrial Building in San Dimas, California

by Amy Works October 13, 2023

SAN DIMAS, CALIF. — JLL Capital Markets has secured $32.9 million in financing for 300 East Arrow Highway, a single-tenant property in San Dimas, approximately 25 miles east of Los Angeles. Greg Brown, Peter Thompson, Kyle White and Allie Black of JLL Capital Markets’ debt advisory team arranged the nonrecourse loan for the borrower, CapRock Partners. Western Pacific Storage Solutions, a leader in the engineering and manufacturing of industrial storage solutions, shelving systems and material handling, occupies the 165,070-square-foot facility. The company has occupied the space for its manufacturing operations since 2001. Built in 1972 and expanded in 1989, 300 East Arrow Highway features 15 dock-high doors and one ground-level door, a 130-foot secured truck court and multiple points of ingress/egress. Additionally, the property offers ample parking, 4000A/480V power and 21,000 square feet of two-story office space.

October 13, 2023

Acquisitions California Industrial Western

DAUM Commercial Negotiates Sale of 43,540 SF Warehouse Facility in Compton, California

by Amy Works October 13, 2023

COMPTON, CALIF. — DAUM Commercial Real Estate Services has arranged the sale of an industrial warehouse asset located at 1303 W. Walnut Parkway in Compton, just south of Los Angeles. A private investor acquired the property from an undisclosed seller for $16 million. Anthony Bergeman of DAUM Commercial represented the buyer, while Jeff Smart and Elizabeth Capati of Colliers represented the seller in the transaction. Situated on 1.8 acres, the 43,540-square-foot facility features two drive-in loading areas, six dock-high doors with ample turning radius for 53-foot truck loading, 93 parking spaces and a fenced yard. The new ownership plans to remove the excess mezzanine office space and implement extensive renovations to reduce and modernize the onsite office footprint.

October 13, 2023

Acquisitions Multifamily Nevada Western

Avison Young Brokers $15.4M Sale of Madison at Green Valley Apartments in Henderson, Nevada

by Amy Works October 13, 2023

HENDERSON, NEV. — Avison Young has arranged the sale of Madison at Green Valley, an apartment community in the Las Vegas suburb of Henderson. Brisas GD LLC acquired the asset from Pacifica Henderson LLC for $15.4 million, or $175,000 per unit. Constructed in 1992 on four acres, Madison at Green Valley features 88 one- and two-bedroom apartments, with an average unit size of 942 square feet. The community is located near the Sunset Station Hotel and Casino and Galleria at Sunset. Patrick Sauter, Art Carll-Tangora and Steve Nosrat of Avison Young’s Sauter Multifamily Group facilitated the transaction for both the buyer and seller.

October 13, 2023

Spectrum Business Park in Federal Way, Wash., features 68,911 square feet of multi-tenant industrial space.

Acquisitions Industrial Washington Western

MCA Realty Divests of Spectrum Business Park in Federal Way, Washington for $13.7M

by Amy Works October 13, 2023

FEDERAL WAY, WASH. — MCA Realty has completed the sale of Spectrum Business Park, a six-building industrial campus in Federal Way, just northeast of Tacoma. A private investor purchased the asset for $13.7 million. Andy Miller and Matt McLennan of Kidder Mathews and Kyle Schipper of NAI Puget Sound Properties represented the seller, while Earney Velton of JSH Properties represented the buyer in the transaction. Built in 1978, Spectrum Business Park features 68,911 square feet of industrial space that was 100 percent leased at the time of sale. The park is located at 1620-1720 S. 341st Place. MCA Realty originally acquired the business park in September 2021 and spend $500,000 in capital improvements that included new paint, parking lot improvements, roof/gutter upgrades, interior improvements, electrical upgrades, landscaping and a new signage program. Spectrum Business Park is the fifth property sold within the MCA Realty Industrial Growth Fund.

October 13, 2023

Acquisitions California Healthcare Office Western

Harbor Associates Sells 47,850 SF Medical Office Building in Upland, California

by Amy Works October 13, 2023

UPLAND, CALIF. — Harbor Associates has completed the disposition of 400 Mountain Avenue, a medical office property in the Inland Empire city of Upland. A local medical user bought the asset for $8.8 million. The three-story building features 47,850 square feet of medical office space with highway access to Los Angeles and Orange County. Sammy Cemo, Anthony DeLorenzo, Austin Reuland, Bryan Johnson and Nick Williams of CBRE Investment Properties represented the seller in the deal.

October 13, 2023

Acquisitions California Office Western

Newmark Negotiates Sale of 129,789 SF Calabasas Courtyard Office Campus in California

by Amy Works October 12, 2023

CALABASAS, CALIF. — Newmark has negotiated the sale of Calabasas Courtyard, a three-building office campus in Calabasas, approximately 30 miles west of Los Angeles. AEW Capital Management sold the asset to Calabasas Courtyard LLC, a partnership between Brian Forster of Pacific Partners Commercial, Tony Principe of Westcord Commercial and private investor John Cataldo. The price was not disclosed. Located at 5000 Parkway Calabasas, the 129,789-square-foot campus was 68 percent leased at the time of sale. The buyer plans to upgrade and modernize the commons areas of the three buildings, as well as the individual suites. Kevin Shannon, Rob Hannan, Ken White, Laura Stumm, Michael Moll and Alex Beaton of Newmark represented the seller in the transaction.

October 12, 2023

California Development Multifamily Western

CIM Group Opens The Wilson Apartment Community in Santa Monica, California

by Amy Works October 12, 2023

SANTA MONICA, CALIF. — CIM Group has opened The Wilson, a multifamily property located at 2903 Lincoln Blvd. in Santa Monica’s Sunset Park neighborhood. The newly developed community features 47 studio, one-, two- and three-bedroom apartments with hardwood-style flooring, in-unit washers/dryers and private balconies. Community amenities include a courtyard with lounge and dining seating, and a rooftop deck with outdoor fire pits and barbecues. The Wilson also features 15,000 square feet of ground-floor retail space.

October 12, 2023

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