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Craig-Road-Logistics-Center-North-Las-Vegas-NV
DevelopmentIndustrialNevadaWestern

Rockefeller Group to Redevelop Former Walmart Site in North Las Vegas into Craig Road Logistics Center

by Amy Works

NORTH LAS VEGAS, NEV. — Rockefeller Group has acquired a former Walmart Supercenter site for the development of Craig Road Logistics Center, an industrial project at the intersection of Craig Road and North Nellis Boulevard in North Las Vegas. Terms of the transaction were not released. Situated on 19 acres, Craig Road Logistics Center will feature two speculative building offering a total of 369,198 square feet of industrial space. The 227,660-square-foot building will feature 36-foot clear heights, 176 auto parking stalls and 29 dock doors. The 141,538-square-foot facility will offer 32-foot clear heights, 219 auto parking stalls and 18 dock doors. Additionally, both buildings will offer a variety of state-of-the-art features to ensure the project is a Class A facility. Lee & Sakahara Architects will design the project, TWC Construction will serve as general contractor and Taney Engineering will serve as civil engineer. Rockefeller Group represented itself in the land purchase. Jason Simon and Rob Lujan of JLL’s Las Vegas office will be listing brokers for the project.

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DevelopmentIndustrialNevadaWestern

Alston Construction Breaks Ground on $18M Simmons Airpark Industrial Project in Las Vegas

by Amy Works

LAS VEGAS — Alston Construction, as general contractor, has started construction of Simmons Airpark, located at 2880 Simmons St. in Las Vegas. Situated on 9 acres, Simmons Airpark will feature a 182,184-square-foot warehouse with 36-foot clear heights, concrete tilt walls and a panelized roof structure. The project team includes Panattoni Development as owner and developer, Lee & Sakahara Architects as architect and Taney Engineering as civil engineer. The $18 million project is slated for completion in June 2024.

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300-E-Arrow-Hwy-San-Dimas-CA
AcquisitionsCaliforniaIndustrialWestern

CapRock Partners Buys 165,070 SF Industrial Facility in San Dimas, California

by Amy Works

SAN DIMAS, CALIF. — CapRock Partners has completed the acquisition of 300 E. Arrow Highway, a single-tenant industrial building in San Dimas. The company purchased the property from an undisclosed investor in an all-cash transaction. Barbara Perrier, Darla Longo and Rebecca Perlmutter of CBRE facilitated the deal. Built in 1972 and expanded in 1989, the 165,070-square-foot building features 15 dock-high doors, one ground-level door, a 130-foot secured truck court and multiple points of ingress/egress. Additionally, the property offers ample parking, 4,000A/480V power and approximately 21,000 square feet of two-story office space. Western Pacific Storage Solutions, a leader in engineering and manufacturing of industrial storage solutions, shelving systems and material handling, has fully occupied the facility for its manufacturing operations since 2001.

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600-W-Donlon-St-Blythe-CA
AcquisitionsCaliforniaHospitalityWestern

Marcus & Millichap Brokers Sale of 65-Room Quality Inn Hotel in Blythe, California

by Amy Works

BLYTHE, CALIF. — Marcus & Millichap has arranged the sale of a Quality Inn hotel located at 600 W. Donlon St. in Blythe. Terms of the transaction were not released. The recently renovated property features 65 guest rooms. Andy Patel and Gordon Allred of Marcus & Millichap’s Palm Springs and Inland Empire offices, respectively, represented the seller, a limited liability company, and procured the buyer, a limited liability company.

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1870-W-64th-Ln-Denver-CO.jpg
AcquisitionsColoradoIndustrialWestern

Comunale Properties Purchases Industrial Building in Denver

by Amy Works

DENVER — Comunale Properties has purchased an industrial facility, located at 1870 W. 64th Lane in Denver, from Manhattan Fund XXI LLC for an undisclosed price. The acquisition is part of Comunale’s Private Capital Core long-duration income strategy, which has industrial holdings across six states. The industrial property is fully leased to three tenants. The building features 20-foot clear heights, modern features and tilt-up construction. Brandon Kramer of Marcus & Millichap represented the seller in the deal.

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Union-Place-Placentia-CA
AcquisitionsCaliforniaMultifamilyWestern

Gelt Venture Partners Buys Union Place Apartments in Placentia, California for $63.1M

by Amy Works

PLACENTIA, CALIF. — Gelt Venture Partners (GVP) has acquired Union Place, a multifamily property located at 1500 Cherry St. in the Orange County city of Placentia, for $63.1 million. Mike Murphy and Rachel Parsons of Berkadia represented the buyer and undisclosed seller in the deal. Built in 2012, the three-story building offers 125 two- and three-bedroom apartments averaging 1,238 square feet. Apartments, which are in original condition, feature granite countertops, stainless steel appliances, wood-style flooring, laundry rooms with washers/dryers, nine-foot ceilings, walk-in closets, private balconies or patios, and garages for each unit, as well as ample surface parking. Community amenities include a pool, fitness center, barbecue areas, a playground and controlled entry access. GVP plans to add kitchen islands, new custom cabinetry, vinyl plank flooring, tile backsplashes, quartz countertops, undermount sinks, modernized hardware and recessed lighting. Planned common-area improvements include painting and enhancements to the pool and fitness center, among other cosmetic renovations.

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Delaware Street Townhomes in Denver’s South Broadway neighborhood features 22 three-bedroom units.
AcquisitionsColoradoMultifamilyWestern

CBRE Arranges $10.4M Sale of Delaware Street Townhomes in Denver

by Amy Works

DENVER — CBRE has arranged the sale of Delaware Street Townhomes, a multifamily building located at 2566-2598 S. Delaware St. and 351-375 W. Vassar Ave. in Denver’s South Broadway neighborhood. Hill Street Realty acquired the asset for $10.4 million from Pando Holdings. Built in 2022, Delaware Street Townhomes features 22 three-bedroom floor plans averaging 1,272 square feet and high-end finishes. At the time of sale, the townhomes were fully leased. Erik Toll, Justin Hunt, Andy Hellman, Brad Schlafer and Jessica Graham of CBRE’s Colorado multifamily investment properties team represented the seller in the deal.

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39355-Washington-St-Palm-Desert-CA
AcquisitionsCaliforniaRetailWestern

Hanley Investment Group Brokers $2.9M Sale of Bank of America-Occupied Asset in Palm Desert, California

by Amy Works

PALM DESERT, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of an absolute triple-net ground lease of a single-tenant building located at 39355 Washington St. in the Coachella Valley city of Palm Desert. A Los Angeles-based private investor sold the building to a Riverside County-based private investor for $2.9 million. Bank of America occupies the 3,515-square-foot freestanding building, which features a drive-thru. Bill Asher and Jeff Lefko of Hanley Investment represented seller, while Tyler Rollema of The Klabin Co. in Torrance represented the buyer in the deal.

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1885-AZ-95-Bullhead-City-AZ
AcquisitionsArizonaRetailWestern

Marcus & Millichap Negotiates Sale of 4,425 SF Net-Leased Retail Property in Bullhead City, Arizona

by Amy Works

BULLHEAD CITY, ARIZ. — Marcus & Millichap has arranged the sale of net-leased retail property, located at 1885 AZ-95 in Bullhead City, near the state borders of both Nevada and California. Maverik occupies the 4,425-square-foot building, which was completed this year.   A limited liability company sold the property to an undisclosed buyer for $2.7 million. The sale included a new, 20-year, absolute triple-net corporate ground lease with an eight percent rental increase every five years. Mark Ruble and Chris Lund of Marcus & Millichap’s Phoenix office represented the seller in the transaction.

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892-Sunset-Rd-Henderson-NV
DevelopmentNevadaRestaurantRetailWestern

Diversified Partners Completes Construction of Starbucks Location in Henderson, Nevada

by Amy Works

HENDERSON, NEV. — Diversified Partners has completed the construction of a single-tenant building at 892 Sunset Road in Henderson. The project team includes Kitrell Jenson Contractors and RKAA Architects. Starbucks Coffee will occupy the 2,573-square-foot standalone building, which features a double drive-thru and 900-square-foot outdoor patio space. The building features the latest Starbucks prototype.

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