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AcquisitionsColoradoIndustrialWestern

NavPoint Negotiates $3.2M Sale of Multi-Parcel Industrial Asset in Castle Rock, Colorado

by Amy Works

CASTLE ROCK, COLO. — NavPoint Real Estate Group has brokered the sale of 1609 and 1713 Park St. in Castle Rock. JGC2M LLC sold the asset to Four Square Properties II LLC for $3.2 million. The asset consists of four commercially zoned parcels totaling 1.6 acres. Two of the parcels are fenced outdoor storage and two parcels have buildings, totaling approximately 12,000 square feet combined. Matt Call of NavPoint represented the seller, while Jeff Brandon of NavPoint represented the buyer in the deal.

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AcquisitionsCaliforniaMultifamilyWestern

Decron Properties Buys Margo at The Society Multifamily Community in San Diego for $125.5M

by Amy Works

SAN DIEGO — Decron Properties has acquired Margo at The Society, an apartment property located at 201 Del Sol Drive in San Diego, for $125.5 million. The name of the seller was not released. The acquisition was fueled through a 1031 exchange, with Decron selling two properties in Thousand Oaks — Los Robles Apartments for $102.5 million and Retreat at Thousand Oaks for $69 million — and reinvesting a portion of those funds into Margo at The Society. Part of a mixed-use development that includes four multifamily communities, Margo at The Society features 240 one-, two and three-bedroom apartments with quartz countertops, stainless steel appliances, designer backsplashes, soft-close cabinets and drawers, keyless entry and Nest thermostat systems. Community amenities include a resort-style pool area, fitness center and common area lounge and meeting rooms.

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Fairfield-Industrial-Fairfield-CA
CaliforniaDevelopmentIndustrialWestern

TCC, Clarion Partners Complete First Phase of Fairfield Industrial Center in Northern California

by Amy Works

FAIRFIELD, CALIF. — Trammell Crow Co. (TCC) and its joint venture partner Clarion Partners have completed the construction of the first phase of development at Fairfield Industrial Center in Northern California. Located at 2725 Low Court in Fairfield, the first phase includes a Class A, 205,223-square-foot industrial facility, which is currently available for lease by a single user or multiple smaller tenants. Situated on 11 acres, the property features 36-foot clear heights; 56-foot by 47.5-foot column spacing; a 4,000-square-foot turnkey office space; 32 dock doors including 16 docks equipped with 40,000-pound levelers and seals; two grade-level doors; ESFR sprinklers; and 156 auto parking stalls and 44 trailer parking spaces. Additional features at the facility include enhanced exterior glass entries, canopies, façade accents and a landscaped site highlighting water-efficient planting. The joint venture has secured municipal approval for the second phase of development at the project, which will be located at 300 Chadbourne Road and include two Class A industrial buildings totaling 328,553 square feet. Construction for the second phase is expected to begin next year. Kevin Hatcher of CBRE, along with Brooks Pedder and Tony Binswanger of Cushman & Wakefield, are handling leasing for the property.

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AcquisitionsColoradoMultifamilySeniors HousingWestern

SLIB Negotiates Sale of 40-Unit Renew Saddle Rock Memory Care in Aurora, Colorado

by Amy Works

AURORA, COLO. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Renew Saddle Rock Memory Care in Aurora, approximately 20 miles southeast of Denver. The asset features 40 units and 52 beds and was built in 2015. The property totals 38,585 square feet on approximately 4.7 acres of land. The seller was an out-of-state private equity group with a third-party operator divesting the asset to exit the senior living space. The buyer was an experienced Denver-based owner-operator looking to grow its portfolio. The price was not disclosed. Vince Viverito, Ryan Saul and Jason Punzel of SLIB handled the transaction.

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AcquisitionsCaliforniaRestaurantRetailWestern

Hanley Investment Group Brokers $3.9M Sale of Multi-Tenant Retail Pad in Palm Desert, California

by Amy Works

PALM DESERT, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of a multi-tenant retail property located at 39575 Washington St. in Palm Desert. A Los Angeles-based private investor sold the asset to a San Diego-based private 1031 exchange investor for $3.9 million. Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller, while Omar Hussein of Del Mar-based Beacon Realty Advisors represented the buyer in the deal. Built in 2008, the 8,500-square-foot retail property offers four tenant suites. At the time of sale, the property was fully occupied by Chipotle Mexican Grill (under a new 10-year, triple-net, corporate lease), Cornerstone Pharmacy, Luxury Nails & Spa and Keller Williams Realty Coachella Valley | Jelmberg Team.

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3748-N-Scottsdale-Rd-Scottsdale-AZ
AcquisitionsArizonaRestaurantRetailWestern

CBRE Arranges $3.6M Sale of Restaurant Building in Scottsdale, Arizona

by Amy Works

SCOTTSDALE, ARIZ. — CBRE has brokered the sale of a restaurant property located at 3748 N. Scottsdale Road in Old Town Scottsdale. Scottsdale-based The Shipp Family purchased the building from a private individual investor for $3.6 million. Good Life Sports Bar and Grill signed a 10-year, triple-net lease to occupy the 5,265-square-foot property, which another restaurant formerly occupied. This location will be the Omaha, Nebraska-based chain’s first location in Arizona. Built in 1957, the two-tenant building is currently being renovated for the new tenant that is slated to open next year. Joe Campagno and Benjamin Farthing of CBRE negotiated the transaction.

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The-Brynn-Civita-San-Diego-CA
CaliforniaDevelopmentMultifamilyWestern

Sudberry Properties Starts Construction of 200-Unit The Brynn Multifamily Community in San Diego

by Amy Works

SAN DIEGO — Sudberry Properties has broken ground on The Brynn, its fourth apartment property in the 230-acre, master-planned Civita community in San Diego’s Mission Valley neighborhood. Located on 3.3 acres at 2525 Via Alta, The Brynn is slated to open in 2025 and overlook the 14.3-acre Civita Park. The five-story property will feature 200 one-, two- and three-bedroom apartments, ranging in size from 613 square feet to 1,448 square feet. Units will include nine-foot ceilings, hardwood-style flooring, carpeting, and kitchens with Energy Star stainless steel appliances, quartz countertops and full-size washers and dryers. Additionally, some layouts offer patios or decks. Community amenities include a 360-space parking structure, clubroom, pool, spa, barbecues, lounges, firepits, TVs, an indoor/outdoor fitness area, shuffleboard, an indoor/outdoor bar, a pool table and lounge area with couches. Residents at The Brynn will also have access to the recreational amenities at the three existing apartment neighborhoods in Civita – Circa 37, West Park and Purl.

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3215-3225-Executive-Ridge-Vista-CA
AcquisitionsCaliforniaIndustrialWestern

Old Grove Acquires Two Industrial Buildings in Vista, California for $29.4M

by Amy Works

VISTA, CALIF. — Old Grove LLC, an out-of-town 1031 exchange buyer, has purchased two industrial properties in Vista from DXW LLC for $29.4 million. Located at 3215 and 3225 Executive Ridge, the two buildings offer a total of 120,239 square feet. BioFilm, a manufacturer and distributor of healthcare products, occupies both assets on a triple-net lease. Matt Poucho, Anthony DeLorenzo, Matt Harris, Roger Carlson and Blake Wilson of CBRE represented the seller, while James DeRegt of Lee & Associates represented the buyer in the deal. BioFilm occupies the 44,630-square-foot building at 3225 Executive Ridge as its corporate headquarters. Situated on 2.6 acres, the building features three loading docks, three grade-level doors and 28-foot clear heights. Thirty-three percent of the building serves as an office area, while the remaining space serves the company’s manufacturing needs. The tenant also occupies the 44,630-square-foot building at 3215 Executive Ridge, which is 71 percent warehouse space and 29 percent office space. The facility features drive-around truck access to two loading docks and four grade-level doors. Additionally, the property is equipped with heavy power.

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ArizonaDevelopmentIndustrialWestern

Super Radiator Coils Breaks Ground on 150,000 SF Industrial Heat Exchanger Manufacturing Facility in Mesa, Arizona

by Amy Works

MESA, ARIZ. — Super Radiator Coils, a company specializing in heat exchanger manufacturing, has broken ground on a ground-up design/build industrial facility in Mesa. The project team includes Scannell Properties, Ware Malcomb as architect and Brinkmann Constructors as design/builder. Constructed of concrete tilt-up panels, the 150,000-square-foot facility will include more than 45,000 square feet of Class A office space, 130,000 square feet of fully conditioned manufacturing floor space, gantry crane systems and clean room areas that support advanced manufacturing. Super Radiator Coils will use the facility as its western U.S. production hub to produce industrial heat exchangers, coils and nuclear products. Completion is slated for fall 2024. John Grady, Jackei Orcutt and Jonathan Teeter of CBRE represented Super Radiator Coils in the development and building transaction.

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ArizonaIndustrialLoansSelf-StorageWestern

Gantry Arranges $18.3M Loan for StorEz Self-Storage Facility in Scottsdale, Arizona

by Amy Works

SCOTTSDALE, ARIZ. — Gantry has arranged an $18.3 million loan for StorEz Self Storage, located at 3030 N. 73rd St. in Scottsdale. The 71,000 rentable-square-foot property features 797 self-storage units. The five-year permanent loan was underwritten on the asset’s five-year pro forma as it moves through stabilization. An insurance company provided the financing, which features a fixed rate with an initial interest-only period followed by 25-year amortization. Andy Bratt and Sean Kuang of Gantry’s Irvine, Calif., office secured the loan on behalf of the undisclosed borrower. 

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