Western

SRS Real Estate Brokers $22M Sale of Silverbell Plaza Retail Center in Tucson, Arizona

by Amy Works December 20, 2022

TUCSON, ARIZ. — SRS Real Estate Partners has arranged the sale of Silverbell Plaza, a shopping center located at 2480-2500 N. Silverbell Road and 2106-2180 W. Grant Road in Tucson. An Arizona-based private investor sold the asset to a Washington-based private investor in a 1031 exchange for $22 million. Situated on 8.4 acres, Silverbell Plaza features 97,540 square feet of retail space. At the time of sale, the property was 97 percent leased. Current tenants include Walgreens, Safeway, Anytime Fitness, Leslie’s Poolmart, PNC Bank, Wingstop, H&R Block and 14 other local, regional and national businesses. John Redfield and Alan Houston of SRS represented the seller, while Gary Gallelli Jr. and Adam Rainey of Gallelli Real Estate represented the buyer in the transaction.

December 20, 2022

Acquisitions California Net Lease Restaurant Retail Western

Hanley Investment Group Negotiates $10.4M Sale of Chick-fil-A-Occupied Restaurant in Livermore, California

by Amy Works December 20, 2022

LIVERMORE, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of a single-tenant restaurant property located at 1754 N. Livermore Ave. in Livermore. Meridian sold the property to an Alameda County-based buyer in a 1031 exchange for $10.4 million. Chick-fil-A occupies the 4,821-square-foot, built-to-suit property on a 20-year initial net lease term. Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller in the deal.

December 20, 2022

Acquisitions Industrial Washington Western

Clarion Partners Sells 459,349 SF Renton Logistics Center in Washington

by Amy Works December 20, 2022

RENTON, WASH. — Clarion Partners has completed the disposition of Renton Logistics Center, a Class A industrial building located at 2501 E. Valley Road in Renton. An institutional buyer acquired the asset for an undisclosed price. Brett Hartzell and Paige Morgan of CBRE National Partners in the Pacific Northwest represented the seller in the deal. Built in 1996, the 459,349-square-foot, cross-dock facility features 30-foot clear heights, 75 dock-high doors, trailer parking, heavy power, recent upgrades to ESFR and energy-efficient lighting. At the time of sale, three tenants fully leased the property: Graybar, Swire Coca-Cola and Sealed Air.

December 20, 2022

2717-S-Copper-Passage-Steamboat-Springs-CO

Acquisitions Colorado Industrial Net Lease Office Western

Blue West Capital Arranges $5M Sale of FedEx-Occupied Building in Steamboat Springs, Colorado

by Amy Works December 20, 2022

STEAMBOAT SPRINGS, COLO. — Blue West Capital has brokered the sale of a single-tenant property located at 2717 S. Copper Passage in Steamboat Springs. A Colorado-based private investor sold the asset to a Denver-based buyer for $5 million in an all-cash transaction. FedEx has operated at the property since 2000 and recently signed a long-term, net-lease extension. Brandon Gayeski of Blue West Capital represented the seller in the deal.

December 20, 2022

California Development Multifamily Western

Wood Partners, Principal Real Estate Open 372-Unit Alta Star Harbor Residential Community in Alameda, California

by Amy Works December 19, 2022

ALAMEDA, CALIF. — Wood Partners and Principal Real Estate have opened Alta Star Harbor, a residential property located at 1518 Clement Ave. in Alameda. The property is a combination of new construction and the adaptive reuse of a 100-year-old Del Monte warehouse, with all residences located within the six-acre historic brick façade. Additionally, select units feature preserved original timber roofs, brick walls and concrete floors combined with modern apartment amenities. Designed by BAR Architects, Alta Star Harbor features 372 apartments in a mix of studio, one-, two- and three-bedroom layouts. Units range from traditional apartment-style homes and townhome options to work/live units. Each apartment offers open floor plans, stainless steel appliances, quartz countertops, hard-surface flooring, full-size washers/dryers and temperature control. Community amenities include paseos with landscaped gardens, rooftop sundecks, retail space, a fitness center and yoga studio, Wi-Fi lounge with workspace booths, a clubroom for resident events with a community kitchen, and complimentary coffee bar. Wood Residential will manage the property.

December 19, 2022

Acquisitions California Multifamily Western

Rockwood Capital, MG Properties Acquire Domain Apartments in San Diego’s Kearny Mesa Neighborhood

by Amy Works December 19, 2022

SAN DIEGO — A joint venture between affiliates of Rockwood Capital and MG Properties has purchased Domain San Diego, a multifamily community in San Diego’s Kearny Mesa neighborhood, for an undisclosed price. The sellers were the real estate business within Goldman Sachs Asset Management and Magnolia Capital. Domain San Diego features 379 apartments in a mix of studio, one- and two-bedroom apartments, competitive community amenities and easy access to freeways 163 and 52. Joseph Smolen, Geoff Boler, Mark Peterson, Jonathan Merhaut and Eugene Chong of Eastdil Secured represented the sellers in the deal.

December 19, 2022

Acquisitions Multifamily New Mexico Western

Northmarq Brokers Sale of Two Apartment Communities in Albuquerque

by Amy Works December 19, 2022

ALBUQUERQUE, N.M. — Northmarq has arranged the sale of two apartment communities in Albuquerque for an undisclosed price. ABQ Encore LLC and Uptown Horizon Apartments LLC sold the assets to CS ABQ Encore and CA ABQ Uptown, ownership entities of New York-based Crescent Sky Real Estate Partners, with loan assumptions and no new debt. The properties are the first acquisitions in Albuquerque by Crescent Sky Real Estate Partners. Located at 810 Eubank Blvd. NE, ABQ Encore features 129 residences split between 331-square-foot studio units and 551-square-foot one-bedroom units. The property was built in 1971 and converted from a hotel to a multifamily community in 2017. Community amenities include a laundry facility, 24-hour fitness center and pet park. Built in 1961, Uptown Horizon features 79 apartments, including 55 studio units and 24 one-bedroom units. The property’s roof was replaced in 2018, and 25 of the units underwent light upgrades with new kitchen appliance packages. Onsite amenities include a swimming pool, laundry facilities, outdoor grills and picnic areas. Uptown Horizon is located at 7601 Lomas Blvd. NE. Cynthia Meister, Trevor Koskovich and Jesse Hudson of Northmarq represented the sellers in the deal.

December 19, 2022

Acquisitions California Office Western

San Diego County Bar Association Buys Office Building for $6.8M

by Amy Works December 19, 2022

SAN DIEGO — CBRE has arranged the sale of a single-story office building in downtown San Diego. The San Diego County Bar Association acquired the asset from 330 A Street LLC for $6.8 million. Jeff Oesterblad and Marc Frederick of CBRE’s San Diego office represented the seller, while Tom Nicholas and Jack Blumenfeld of Colliers represented the buyer in the transaction.

December 19, 2022

Acquisitions Colorado Industrial Western

Marcus & Millichap Negotiates Sale of 11,688 SF Industrial Property in Denver

by Amy Works December 19, 2022

DENVER — Marcus & Millichap has arranged the sale of an industrial property located at 1531 West Bayaud Avenue in Denver. Terms of the transaction were not released. Thimy Moraitis of Marcus & Millichap’s TAG Industrial Group represented the seller, a private investor, in the deal. Situated on 0.46 acres, the 11,688-square-foot asset is divided into three individual suites, consisting of nine percent office space. At the sale of sale, the property was fully leased.

December 19, 2022

California Hospitality Loans Mixed-Use Multifamily Retail Western

Boardwalk Investments Group Receives $245M Refinancing for Mixed-Use Portfolio in California

by Amy Works December 16, 2022

COSTA MESA, CALIF. — Costa Mesa-based Boardwalk Investments Group, led by Gary Jabara and Debi Kroger, has received $245 million in financing for a portfolio of properties in California. John Chun, John Marshall, Jordan Leake and Spencer Seibring of JLL Retail Capital Markets Debt Advisory secured the permanent financing from four lenders. The portfolio includes: The Estate, a 22-acre hospitality and destination retail complex in downtown Yountville. The property features the 193-room Hotel Villagio, Vintage House and the five-bedroom Villa at The Estate. Aliso Creek Shopping Center, a 49,149-square-foot, 92-percent occupied retail center in Laguna Beach. Flower Hill Promenade, a 168,249-square-foot, 95.6-percent leased retail center in Del Mar. The Landing, a 44,289-square-foot, fully leased shopping center on the Balboa Peninsula in Newport Beach. 1810 State Street, a 99-unit mid-rise apartment complex in downtown San Diego’s Little Italy neighborhood. Restoration Hardware Yountville, a single-tenant wine vault and restaurant space in downtown Yountville.

December 16, 2022

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