PORTLAND, ORE. — BKM Capital Partners has purchased Airport Business Center in Portland for $37.3 million. The 11-building light industrial portfolio is located at 6756 NE Alderwood Road and 6620-7040 NE 79th Court in Portland’s Columbia industrial corridor. The 228,518-square-foot business park contains 41 units with an average size of 5,600 square feet. The spaces were 92 percent occupied at the time of the sale. BKM acquired the asset through a joint venture partnership with TerraCore Capital.
LOS ANGELES — Selective Eton Nordhoff LLC has acquired a 48,550-square-foot industrial property in the Chatsworth and Canoga Park communities of Los Angeles. Though the purchase price was not disclosed, the asset was listed at nearly $10.5 million and sold for above asking price. The multi-tenant industrial property was built in 1977. It has largely remained the same since that time, save for cosmetic updates over the years. Arthur Pfefferman of Coldwell Commercial Quality Properties represented both the buyer and the seller.
CARLSBAD, CALIF. — PSRS has arranged $5.9 million in financing for the acquisition of a 32,000-square-foot industrial property in Carlsbad. The deal closed in 35 days to meet the borrower’s 1031 exchange deadline. The non-recourse loan features a five-year term with a 5.55 percent interest rate and a 30-year amortization. Ryan Frankman and Ari Zeen of PSRS arranged the financing through an insurance company.
DENVER — McCarthy Building Cos. has leased a 13,000-square-foot space at One Platte in Denver. The newly developed, 250,402-square-foot office building is located at 1701 Platte St. The new space will allow McCarthy to expand and relocate within the Denver market. The company has been an active player in the market since the mid-1970s. JLL’s David Shirazi, Janessa Biller and Scott Wetzel represented McCarthy in the lease. Newmark represented the landlord, Shorenstein.
TUCSON, ARIZ. — Tahl Machine, which provides parts for mechanical and electronic equipment, has renewed its lease for 10,500 square feet of industrial space at Tucson Industrial Center. The space is located at 4151 E. Tennessee St., Suites 239 and 257 in Tucson. Cintya Denisse Angulo Garcia of Cushman & Wakefield | PICOR represented the landlord in this transaction.
SAN DIEGO — The University of California Board of Regents has approved plans to develop a new student center and 2,400-bed residence hall on the University of California San Diego campus. The two projects will cost $1.1 billion, according to reports by The San Diego Union Tribune. Construction on both developments is set to begin this summer. The four-building student center, named Triton Center, is set for completion in 2026. One of the buildings will be home to the university’s student health, mental health and well-being services. This property will include an urgent care space; primary care, pharmacy and wellness services; and a new home for the university’s Counseling and Psychological Services department. Triton Center will also include an alumni and welcome center; a multi-purpose building with a 500-person event space; an art gallery; and a student academic resources building. The residence hall, Ridge Walk North Living and Learning Neighborhood, is scheduled to open in time for fall semester 2025 and will serve undergraduate students. The building will also include updated administrative and teaching space for the university’s Thurgood Marshall College, School of Global Policy and Strategy, and the Department of Economics in the School of Social Sciences. Ridge Walk will …
By Matthew Mimnaugh, account management manager, Pavlov Media Account management, or the work to ensure repeat business and expand each client relationship, requires more than simply satisfying customers. For Internet service providers (ISPs) to the multifamily industry this means helping property managers succeed by maximizing their residents’ connectivity. Excellent Internet service leads to positive property reviews and renewed leases. Property ownership and management win. Providers that serve landlords best not only respond to service requests, but also employ a deductive approach to diagnose root problems, discover unreported deficiencies and take preemptive actions that allow smooth property operations. Below is an overview of best practices for account management and a discussion of Pavlov Media’s data analysis and behavioral pattern recognition tools we’ve developed to uncover trends and issues that can threaten connectivity and, ultimately, property performance. First Responders Giving housing managers and their residents access to a technology support team is a standard practice for many ISPs. Typically, a request generates a service ticket, and a team member responds to gather basic information before walking the customer through a scripted trouble-shooting tree to either solve the problem or elevate the ticket for more advanced assistance. This approach can be highly effective …
MARANA, ARIZ. — Ascent Companies and Vanderbuild have received $44.9 million in construction financing for Amavida, a 200-unit apartment community in Marana. The community will be situated northwest of Tucson. The developers are planning to break ground on Amavida in the next few weeks. It will include a clubhouse, fitness center, pool, entertainment lawns, barbecues and dog parks. Amavida will also feature a 3.5-acre private park, an amenity not offered by any other multifamily property in the Tucson area. Brandon Harrington and Tyler Woodard of Northmarq’s debt and equity team secured the financing.
IRVINE, CALIF. — CBRE has arranged the $43.5 million sale of 16355 Laguna Canyon Road, a 113,882-square-foot office building in Irvine. Concordia Irvine Holding was the buyer. The three-story building sits on 6.6 acres at the southwest corner of Laguna Canyon Road and Alton Parkway in the Irvine Spectrum. Built in 1998, it features a flexible floor plan, patios and balconies, and nearly 700 parking spaces. The transaction is one of Southern California’s largest recent office sales. It is also Orange County’s highest price-per-square-foot trade in 2023, as of the sale date. The seller was not disclosed.
PHOENIX — Stevens-Leinweber Construction has completed a 160,000-square-foot custom build-out at Phoenix Logistics Center (PLC) Two in Phoenix. The new space is designed to meet the manufacturing and distribution needs of new tenant Georgia-Pacific LLC and its HP PageWide T1190 Press, the world’s largest high-volume digital pre-print solution for corrugated packing. Built originally on a speculative basis, PLC Two offers 40-foot clear height, 70-foot speed bays, a 190-foot truck court, 160 dock-high doors and six grade-level doors. It is leased to Georgia-Pacific and Owens Corning, which occupies the building’s remaining space.