Western

South-Weber-Storage-Ogden-UT

OGDEN, UTAH — Marcus & Millichap has brokered the sale of South Weber Storage, a self-storage facility in Ogden. Terms of the transaction were not released. Jordan Farrer and Adam Schlosser of Marcus & Millichap’s LeClaire-Schlosser Group represented the seller, a local partnership, and procured the undisclosed buyer. Totaling 26,060 square feet, South Weber Storage consists of five single-story buildings offering a total of 136 non-climate-controlled drive-up units. The facility features brick front dividers with all metal interior walls, slightly pitched standing seam metal roofs, roll-up doors and asphalt driveways.

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Glenn Meyer Pavlov bulk internet

Multifamily properties have witnessed a rapid expansion in Internet needs, a trend presaged by burgeoning Internet demands in student housing. Multifamily residents have increased their connection demands and are becoming increasingly sophisticated in their requirements for high-quality Internet. What can the lessons of student housing connectivity teach us about traditional multifamily trends, especially when it comes to bulk Internet? Bulk Internet approaches allow for more sophistication in multifamily properties, as demonstrated by student housing best practices. Student housing pioneered built-in networks to keep mobile devices from competing for Wi-Fi bandwidth, minimize downtime and use fiber connections to ensure speed and reliability. This style of network is becoming the gold standard for constant, heavy-duty Internet use in multi-dwelling units (MDUs). High-level connectivity is becoming an absolute necessity for multifamily properties, drawing in residents and improving their Internet-driven lifestyles. And as never-before-seen demand for bandwidth is graduating from dorm rooms to traditional apartments, well-planned multifamily Internet connections can help operators adapt gracefully. COVID’s Role in Internet Use Expansion COVID lockdowns accelerated already growing Internet requirements, which pushed Internet quality to the forefront as connectivity became increasingly important. “COVID put the spotlight on properties to make sure they had great infrastructure. The demand …

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Alta25-Monument-CO

MONUMENT, COLO. — Thompson Thrift unveiled plans to develop Alta25, a Class A apartment property in Monument, a suburb of Colorado Springs. The 264-unit community is slated to open in 2025. Located at 16218 Jackson Creek Parkway, Alta25 will comprise eight three-story, garden-style buildings and 96 detached garages. The one-, two- and three-bedroom apartments will average 987 square feet and feature gourmet bar-kitchens with quartz countertops, tile backsplashes, stainless steel appliances, designer fixtures and finishes, Alexa-compatible smart hub to integrate all smart devices, smart thermostats, smart door locks, walk-in closets and full-size washers/dryers. The units will also offer patio, balcony and private yard options. Community amenities will include a clubhouse, swimming pool, 24-hour fitness center, Amazon package hub, storage and work spaces, courtyards, grilling stations, outdoor game area, electronic firepit with seating area, dog park and pet spa with grooming station. Alta25 is adjacent to Monument Marketplace, which features more than 658,000 square feet of retail and restaurant space, and within The Village at Jackson Creek, a mixed-use project currently in development.

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ORANGE, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Foxborough Apartments, a multifamily property in Orange. Irvine-based Advanced Real Estate acquired the asset, which will be rebranded as Grove House, for an undisclosed price. Built in 1964, the 23-building property features 90 garden-style apartments with garage parking, two swimming pools, a fitness center, storage space and a grilling area. The 1,200-square-foot apartments have wood-burning fireplaces, dishwashers, washers and dryers. Advanced plans to renovate the asset by the addition of central air conditioning, new windows, new cabinetry, flooring, appliances, large fenced-in patios, upgraded landscaping, a modern paint scheme, signage and pool enhancements. Kevin Green, Joseph Grabiec and Greg Harris of IPA represented the undisclosed seller and procured the buyer in the deal.

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Loma-Starr-San-Diego-CA

SAN DIEGO — Cushman & Wakefield has facilitated the sale of Loma Starr, a two-building office and medical office property at 3051-3055 Rosecrans St. and 3065 Rosecrans Place in San Diego’s Midway District. Loma Starr LLC, a private investor group, sold the asset to Crown Point Systems for $7.4 million. Totaling 28,630 square feet, the recently renovated property was 91.7 percent leased at the time of sale. The buyer plans to occupy space at the property for its own offices. Peter Curry, Brooks Campbell and Kevin Cuff of Cushman & Wakefield’s Private Capital Group in San Diego represented the seller, while Bret Morriss of Cast Capital represented the buyer in the transaction.

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Sunnyview-Villa-Apts-San-Diego-CA

PALM SPRINGS, CALIF. — The Mogharebi Group (TMG) has arranged the sale of Sunnyview Villa Apartments, a garden-style multifamily community in Palm Springs. A California-based affordable housing investor acquired the property from California- and Utah-based private investor sellers for $11.2 million. Situated on 3.6 acres at 2900 N. Indian Canyon Drive, the property’s 44 two- and three-bedroom apartments are spread across seven two-story walk-up residential buildings. The affordable housing community is less than three miles from shopping, dining and entertainment opportunities in downtown Palm Springs. Otto Ozen of TMG represented the sellers in the deal.

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Storage-General-Layton-UT

LAYTON, UTAH — A local investment and development group has completed the disposition of Storage General – Layton, an 86,105-square-foot self-storage facility located on Antelope Drive in Layton. A REIT acquired the asset for an undisclosed price. Jordan Farrer and Adam Schlosser of Marcus & Millichap represented the seller and procured the buyer in the transaction. Storage General – Layton features 11 single-story buildings offering interior, drive-up, climate-controlled and traditional self-storage units with roll-up doors. The property has cinderblock front dividers with all metal interior walls, slightly pitched standing seam metal roofs, roll-up doors and driveways.

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Lakemont-Orchard-Issaquah-WA

ISSAQUAH, WASH. — CBRE has arranged the $78.5 million sale of Lakemont Orchard, a multifamily property in Issaquah. An undisclosed buyer acquired the asset from an affiliate of New York Life Insurance Co. Originally built in 1992, Lakemont Orchard features 201 apartments with balconies in a mix of one-, two- and three-bedroom floor plans, with an average unit size of 916 square feet. Onsite amenities include a pool, hot tub, sundeck, newly upgraded gym, TV and billiards lounge, outdoor dining area and basketball/sport court. The seller upgraded the roofs, siding and clubhouse prior to the sale, but all the apartments are eligible for renovation. Situated on more than 20 acres, the gated community is located at 18305 SE Newport Way. Jon Hallgrimson, Eli Hanacek, Mark Washington and Kyle Yamamoto of CBRE’s Pacific Northwest represented the seller in the deal.

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MCC5-Las-Vegas-NV

LAS VEGAS — Nashville, Tenn.-based Patriot Real Estate Holdings has purchased Marnell Corporate Center V (MCC5), a five-story, Class A office building within Marnell Corporate Center in Las Vegas. The name of the seller and acquisition price were not released. Located at 6720 Via Austi Parkway, the asset features 110,974 square feet of multi-tenant office space. The building was constructed in 2007. Patriot Real Estate acquired MCC3, a 71,378-square-foot office building, and MCC4, a 93,702-square-foot office building, from Dornin Investment Group in summer 2022 and spring 2018, respectively. The Marnell Corporate Center is a seven-building, 736,000-square-foot, Class A, master-planned business campus. Marlene Fujita Winkel, Rick Reeder, Brad Tecca, Emily Brun and Alex Casingal of Cushman & Wakefield represented the seller in the transaction.

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WESTMINSTER AND ENGLEWOOD, COLO. — CA Ventures has sold its Anthology of Westminster and Anthology of Englewood senior living assets to Harrison Street. “Anthology’s Westminster and Englewood assets have leased incredibly well — particularly having opened their doors at the onset of the COVID-19 pandemic in February 2020,” says Justin Dickinson, president of Anthology Senior Living. “The strong financial performance of each asset despite a volatile global macroeconomic environment and never-before-seen headwinds across the industry is a testament to both our investment strategy and the talent of our team.” The Westminster community totals 137 units nine miles northwest of downtown Denver near a prominent retail corridor and residential neighborhoods. The upscale senior living community includes 107 assisted living units and 30 memory care units. The Englewood community totals 130 units seven miles south of downtown Denver and features unobstructed views of the Rocky Mountains and Cherry Hills Country Club. The property comprises 106 assisted living units and 24 memory care units across seven stories.

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