Western

Killian Pacific Breaks Ground on 246-Unit Ninebark Apartments in Washougal, Washington

by Amy Works August 5, 2022

WASHOUGAL, WASH. — Killian Pacific has broken ground on Ninebark, a sustainably designed apartment community between Washougal and Camas, Wash. Situated on nine acres, Ninebark will feature 246 apartments, a central fireplace, private meeting and co-working spaces and a fitness center. Additionally, art installations by regional and indigenous artists will be featured throughout the community and the public park. Development partners include Holst Architecture and R&O Construction. San Diego-based Sunrise Management is overseeing the lease-up and all management activities. The first-phase delivery is planned for January 2023 and all phases are scheduled for completion in spring 2023. Pre-leasing begins in October 2022.

August 5, 2022

Acquisitions Colorado Office Western

Menashe Properties Buys 370,000 SF Stanford Place Office Building in Denver

by Amy Works August 5, 2022

DENVER — Menashe Properties has acquired Stanford Place III, a Class A office building situated on 6.5 acres in Denver. Angelo Gordon Cos. sold the property for an undisclosed price. Totaling 370,000 square feet, the property offers 22,000-square-foot floor plates and a renovated main lobby, common area corridors and restrooms. The building also features a renovated Starbucks Café and deli, a tenant lounge, fitness center, secure bike storage and conference facility. There is also ample surface parking, covered parking and close proximity to interstates 25 and 225 and the Belleview light rail station. Robert Whittelsey and Abby Pattillo of Colliers brokered the transaction.

August 5, 2022

Acquisitions California Net Lease Restaurant Retail Western

Calbay Development Acquires Three Retail Properties in California for $8.5M

by Amy Works August 5, 2022

COMMERCE, CARDIFF AND SANTEE, CALIF. — Calbay Development has purchased three value-add retail properties in California for a total of $8.5 million. In the first transaction, Calbay acquired a site in Commerce in a short-term, off-market, sale-leaseback transaction for $2.5 million. Calbay plans to construct a new Starbucks drive-thru café on the site in 2023. The second property is a corporate-owned Jack in the Box drive-thru in Cardiff, which Calbay acquired for $2.5 million. Reg Kobzi, Michael Peterson, Natasha Edwards and Brianna Bowers of CBRE and Mike Clark of Main & Main brokered the transaction. The property was sold as a short-term sale-leaseback with Jack in the Box corporate. Calbay plans to redevelop the property into a new restaurant in 2023. In the third transaction, Calbay acquired a value-add strip center, with option to purchase a corner lot of excess land, located on a signalized intersection in Santee for $3.5 million. The site benefits from upside due to short-term leases, strong traffic, major adjacent retailers and on/off access to the freeway. Greg Spounias of Highland Partners Corp. brokered the transaction. Calbay secured financing through MidFirst Bank for all three sites and intends to redevelop each property with national brand retailers …

August 5, 2022

Acquisitions Multifamily Washington Western

Auctus Capital Partners Sells 80-Unit Etta Ballard Multifamily Community in Seattle

by Amy Works August 5, 2022

SEATTLE — Auctus Capital Partners has completed the sale of Etta Ballard, a mid-rise apartment building in Seattle’s Ballard neighborhood. Thayer Manca Residential acquired the asset for an undisclosed price. Built in 1989, Etta Ballard features 80 apartments. The property was converted from senior independent living facility to market-rate apartments in 2017. Jerrid Anderson, Brandon Lawler and Dylan Simon of Kidder Mathews represented the seller in the deal.

August 5, 2022

Acquisitions Colorado Industrial Western

NavPoint Real Estate Brokers $6.9M Sale of Industrial Property in Littleton, Colorado

by Amy Works August 5, 2022

LITTLETON, COLO. — NavPoint Real Estate Group has brokered the sale of a light industrial property located at 8101 Midway Drive in Littleton. DCP Midway LLC acquired the building from Pavco Group for $6.9 million. The fully climate-controlled, 48,820-square-foot property features outside storage and oversized drive-in doors. Jeff Brandon and Matt Call of NavPoint Real Estate Group represented the buyer, while Tyler Carner of CBRE represented the seller in the deal.

August 5, 2022

Acquisitions Colorado Industrial Western

NavPoint Real Estate Brokers $6.9M Sale of Industrial Property in Littleton, Colorado

by Amy Works August 5, 2022

LITTLETON, COLO. — NavPoint Real Estate Group has brokered the sale of a light industrial property located at 8101 Midway Drive in Littleton. DCP Midway LLC acquired the building from Pavco Group for $6.9 million. The fully climate-controlled 48,820-square-foot property features outside storage and oversized drive-in doors. Jeff Brandon and Matt Call of NavPoint Real Estate Group represented the buyer, while Tyler Carner of CBRE represented the seller in the deal.

August 5, 2022

Acquisitions Multifamily Washington Western

Auctus Capital Partners Sells 80-Unit Etta Ballard Multifamily Community in Seattle

by Amy Works August 5, 2022

August 5, 2022

Acquisitions California Retail Western

Calbay Development Acquires Three Retail Properties in California for $8.5M

by Amy Works August 5, 2022

COMMERCE, CARDIFF AND SANTEE, CALIF. — Calbay Development has purchased three retail value-add properties in California for a total of $8.5 million. In the first transaction, Calbay acquired a site in Commerce in a short-term sale/leaseback off-market transaction for $2.5 million. Calbay will construct a new Starbucks drive-thru café on the site in 2023. The second deal is a corporate-owned Jack in the Box drive-thru in Cardiff for $2.5 million. Reg Kobzi, Michael Peterson, Natasha Edwards and Brianna Bowers of CBRE and Mike Clark of Main & Main brokered the transaction. The property was sold with a short-term sale/leaseback with Jack in the Box corporate. Calbay plans to redevelop the property into a new restaurant in 2023. In the third transaction, Calbay acquired a value-add strip center, with option to purchase a corner lot of excess land, located on a signalized intersection in Santee for $3.5 million. The site benefits from upside due to short-term leases, strong traffic, major adjacent retailers and on/off access to the 52 Freeway. Greg Spounias of Highland Partners Corp. brokered the transaction. Calbay secured financing through MidFirst Bank for all three sites and intends to redevelop each property with national brand retailers and restaurants in …

August 5, 2022

Acquisitions Colorado Office Western

Menashe Properties Buys 370,000 SF Stanford Place Office Building in Denver

by Amy Works August 5, 2022

DENVER — Menashe Properties has acquired Stanford Place III, a Class A office building situated on 6.5 acres in Denver. Angelo Gordon Cos. sold the property for an undisclosed price. Totaling 370,000 square feet, the property offers 22,000-square-foot floor plates and a renovated main lobby, common area corridors and restrooms. The building also features a renovated Starbucks Café and deli, a tenant lounge, fitness center, secure bike storage and conference facility, as well as ample surface, covered parking and close proximity to interstates 25 and 225 and the Belleview Light Rail Station. Robert Whittelsey and Abby Pattillo of Colliers brokered the transaction.

August 5, 2022

Acquisitions Development Multifamily Washington Western

Killian Pacific Breaks Ground on 246-Unit Ninebark Apartments in Washougal, Washington

by Amy Works August 5, 2022

WASHOUGAL, WASH. — Killian Pacific has broken ground on Ninebark, a sustainably designed apartment home community between Washougal and Camas, Wash. Situated on nine acres, Ninebark will feature 246 apartments, a central fireplace, private meeting and co-working spaces and fitness center. Additionally, art installations by regional and indigenous artists will be featured throughout the community and the public park. Development partners include Holst Architecture and R&O Construction. San Diego-based Sunrise Management is overseeing the lease-up and all management activities. The first phase delivery is planned for January 2023 and will reach completion in spring 2023. Pre-leasing begins in October 2022.

August 5, 2022

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