RENO, NEV. — Berkadia brokered the sale of and secured financing for Westlook Resort Living, a 192-unit, garden-style property in Reno. Jared Glover of Berkadia Las Vegas completed the sale on behalf of the seller. Clay Akiwenzie of Berkadia Incline Village secured the financing for the buyer. Westlook Resort Living offers one-, two- and three-bedroom floorplans. Community amenities include a clubhouse, fitness center, bocce and cornhole courts, pool and dog park.
DENVER — Project partners Confluent Senior Living and MorningStar Senior Living have completed construction of MorningStar at Observatory Park. Located in Denver’s historic Observatory Park neighborhood, the 89,900-square-foot senior living community represents the partners’ 13th joint venture across five states. The five-story, urban infill community offers 58 assisted living and 23 memory care suites as well as 47 underground parking spaces. Firms involved in the project included Hord Coplan Macht as the architect, Shaw Construction as the general contractor and Thoma-Holec Design as the interior designer.
DENVER — NorthPeak Commercial Advisors has brokered the sale of two apartment buildings at 1410 N. Marion St. and 1321 E. 14th Ave. in Denver. An undisclosed investment group bought the properties for $10 million. According to Apartments.com, the buildings were built in 1896 and rise three stories. The buyer is planning to renovate all 40 units. Greg Johnson and Conner Piretti represented the buyer and seller in this transaction. The seller, which owned the property for 40 years prior to the sale, was not disclosed.
BURBANK, CALIF. — Worthe has completed construction of the 800,000-square-foot office project known as Second Century at Burbank Studios. It will serve as the headquarters for Warner Bros. The two LEED-certified office buildings are located on the southernmost portion of the Burbank Studios Lot in Burbank. Frank Gehry and his team at Gehry Partners designed the project. Worthe developed the asset alongside its construction company, Krismar Construction. Stockbridge Real Estate Fund partnered on the project. Second Century was named in anticipation of the upcoming 100-year anniversary of Warner Bros. The buildings will house about 4,500 Warner Bros. employees.
SANTA ANA, CALIF. — Kearny Real Estate Company and Dune Real Estate Partners have announced plans to develop Harbor Logistics Center, a 163,000-square-foot industrial facility in Santa Ana. The new property will replace a recently renovated office campus. Construction is projected to begin in the first quarter of 2024. Kearny acquired the eight-acre office campus at 3130 and 3100 S. Harbor Blvd. in 2018. It hit the market a year later after Kearny completed a multi-million-dollar renovation and rebranded it as Elevate@Harbor. The office campus will be razed to accommodate the construction of the Harbor Logistics Center.
LONG BEACH, CALIF. — A private buyer has purchased a 68,845-square-foot medical office building in Long Beach for $29 million. The four-story building is located at 701 E. 28th St., across the street from MemorialCare Long Beach Medical Center. The Children’s Clinic Family Health, a nonprofit 501(c)(3) health center, occupies about 27 percent of the building. There are 14 other tenants providing various clinical medical services, including general medicine, urgent care, obstetrics/gynecology, urology, neurology, on-site surgery and imaging. CBRE’s Michael Longo, Mark Shaffer, Todd Tydlaska and Sean Sullivan, Anthony Delorenzo represented the seller, Jamison Properties, in the transaction.
PHOENIX — North Mountain Professional Plaza LLC has purchased Black Canyon Commerce Park, a 56,042-square-foot office building in Phoenix, for $5.6 million. The multi-tenant building is located at 2225 W. Peoria Ave. The asset is situated about 15 minutes from the Taiwan Semiconductor Manufacturing Company plant. Bob Deininger at Commercial Properties Inc. represented the buyer. Deininger and Ken Elmer have retained the lease listing of Black Canyon Commerce Park. The seller was not disclosed.
MILWAUKIE, ORE. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Clackamas View, an independent living, assisted living and memory care facility in Milwaukie, just south of Portland. The facility consists of 25 units and was built in 2012. The property totals 15,132 square feet on approximately 1.42 acres of land. The buyer was a private investor that will lease the community to a local operator. The buyer plans to spend money on capital improvements and focus on private pay residents. Jason Punzel, Brad Goodsell, Vince Viverito and Jake Anderson of SLIB handled the transaction. The seller and price were not disclosed.
LAS VEGAS — The Oakland Athletics have reached an agreement with global casino entertainment company Bally’s Corp. (NYSE: BALY) and Gaming & Leisure Properties Inc. (GLPI) for a nine-acre development site on the 35-acre Tropicana Las Vegas campus. The A’s hope to develop a 30,000-seat ballpark at the site, which is situated along the Las Vegas Strip on Las Vegas Boulevard and Tropicana Avenue. “We are excited about the potential to bring Major League Baseball to this iconic location,” says Dave Kaval, president of the Oakland A’s. “We are thrilled to work alongside Bally’s and GLPI and look forward to finalizing plans to bring the Athletics to Southern Nevada.” Yahoo! Sports is reporting that the baseball club is requesting $395 million in public funds to go toward the estimated $1.5 billion project. The deal is subject to approval by the Nevada Legislature, which could meet to approve funds as early as this week. The project is also dependent on Major League Baseball’s approval of the team’s relocation from Oakland, Calif. Bally’s acquired the building and operations of the Tropicana Las Vegas from GLPI in September 2022 as part of a $148 million transaction. As part of the deal structure, Bally’s entered …
CORONADO, CALIF. — CBRE has brokered the $40 million sale of Coronado Plaza, a 41,949-square-foot retail center in Coronado. Built in 1981, the three-story property is situated across from the Hotel Del Coronado. Reg Kobzi, Joel Wilson and Michael Peterson of CBRE’s San Diego office represented the seller, an entity doing business as PREF Coronado Plaza LLC, in the transaction.
