Western

Copper-Creek-Senior-Living-South-Jordan-Utah

Stellar Senior Living Acquires 103-Unit Anthology of South Jordan Seniors Housing Community in Utah

by Amy Works January 25, 2023

SOUTH JORDAN, UTAH — Stellar Senior Living has acquired Anthology of South Jordan, a 103-unit seniors housing community in South Jordan, a suburb of Salt Lake City. The new owner has changed the name to Copper Creek Senior Living. The property offers independent living, assisted living and memory care services. Copper Creek is located near retail, entertainment, recreational and healthcare destinations. Utah-based Stellar Senior Living is a family-owned senior living provider operating 28 senior living communities in nine states in the Western United States.

January 25, 2023

Development Industrial Nevada Top Stories Western

Tesla to Invest $3.6B for Electric Battery, Truck Factories at Gigafactory Nevada Campus

by John Nelson January 25, 2023

SPARKS, NEV. — Electric car manufacturing giant Tesla Inc. (NASDAQ: TSLA) plans to invest $3.6 billion to expand Gigafactory Nevada, an advanced manufacturing campus in the Reno suburb of Sparks that Tesla launched in 2014. The company’s investment will include two new factories — a battery manufacturing facility and a truck factory — that can support approximately 3,000 new team members. At the battery facility, Tesla plans to produce enough of its patented 4680 battery cells for 1.5 million light-duty vehicles annually. The facility will have the capacity for 100 Gigawatt hours (GWh) annually. The truck factory represents the first high-volume factory for Semi, Tesla’s fully electric combination truck that was announced in 2017. The company’s Semi trucks can travel up to 500 miles on a single charge and run on less than 2 kilowatt hours (kWh) per mile, which Tesla says gives companies using commercial transportation a sustainable freight option. The first Semi trucks were delivered in December 2022 to PepsiCo, according to CNBC. Gigafactory Nevada currently spans 5.4 million square feet and represents a $6.2 billion investment for Tesla to date. Annually Tesla produces 7.3 billion battery cells, 1.5 million battery packs, 3.6 million electric vehicles and 1 …

January 25, 2023

Arizona Development Industrial Western

TCC, CBRE Investment Complete 516,000 SF Elliot Gateway Logistics Center in Mesa, Arizona

by Amy Works January 24, 2023

MESA, ARIZ. — A joint venture between Trammell Crow Co. (TCC) and CBRE Investment Management has completed construction of Elliot Gateway, a four-building, Class A logistics park on 40.5 acres at 9020 E. Elliot Road in Mesa. Elliot Gateway features a 151,239-square-foot Building A, a 124,611-square-foot Building B, a 186,000-square-foot Building C and a 54,640-square-foot Building D. Building C is fully leased to a mechanical and electrical construction company, while the other buildings are available for lease. Graycor Consrtuction Co. served as general contractor and Butler Design Group served as architect for the project. Evan Koplan and Serena Wedlich of CBRE are marketing and leasing the property on behalf of TCC and a fund sponsored by CBRE Investment Management.

January 24, 2023

Acquisitions Arizona Multifamily Western

ABI Multifamily Brokers $49.7M Sale of Apartment Property in Phoenix

by Amy Works January 24, 2023

PHOENIX — ABI Multifamily has arranged the sale of Dimension on 27th Apartment Homes in Phoenix. An Arizona-based seller sold the asset to a California-based buyer for $49.7 million, or $191,346 per unit. Built in 1982, the property features 23 residential buildings offering a total of 260 units in a mix of studio, one-bed/one-bath and two-bed/one-bath layouts with stainless steel appliances, vinyl wood flooring and a patios/balconies. Common area amenities include a swimming pool, playground, laundry facilities and onsite maintenance. Alon Schnitzer, Rue Bax, Eddie Chang and Doug Lazovick of ABI Multifamily’s Phoenix-based Institutional Apartment Group represented the buyer and seller in the deal.

January 24, 2023

California Development Office Western

Lowe Develops 113,000 SF Office Building in Los Angeles Arts District

by Amy Works January 24, 2023

LOS ANGELES — Lowe as developer and manager, along with Ware Malcomb as architect/designer and Swinerton as general contractor, has completed construction of a nine-story creative office building located at 2130 Violet St. in Los Angeles’ Arts District. Totaling more than 113,000 square feet, the building includes 109,100 square feet of office space, 3,400 square feet of ground-floor retail space, four levels of parking for 275 vehicles, outdoor spaces including private terraces, and a 3,000-square-foot rooftop deck/lounge. The building offers 27,000-square-foot open floorplates, high ceilings, energy-efficient building systems and HVAC.

January 24, 2023

Acquisitions California Multifamily Western

Trion Acquires Courtyard at Artisan Square Multifamily Property in Sacramento for $23.6M

by Amy Works January 24, 2023

SACRAMENTO, CALIF. — Trion Properties has purchased Courtyard at Artisan Square, an apartment community located at 1503 Fulton Ave. in Sacramento. A private seller sold the asset for $23.6 million. Constructed in 1970, the property features 104 one-, two- and three-bedroom apartments averaging 830 square feet with open floorplans. The community comprises 11 two-story residential buildings totaling more than 86,000 square feet. Current amenities include a fitness center, pool deck and high-end upgrades throughout the property. The previous owner fully renovated the property’s exterior and all unit interiors to include quartz countertops, in-unit washers/dryers, dual-pane windows, new roofs, full patio replacement, asphalt and concrete walkways.

January 24, 2023

Acquisitions Arizona Retail Western

HJ Red Mountain Sells 69,270 SF Red Mountain Plaza Shopping Center in Mesa, Arizona

by Amy Works January 24, 2023

MESA, ARIZ. — HJ Red Mountain LLC, an entity formed by Jakosky Properties, has completed the disposition of Red Mountain Plaza, a retail center at the northwest corner of Power and McKellips roads in Mesa. Red Mountain Plaza, a Washington LLC, acquired the asset for $16.4 million. Situated on eight acres, Red Mountain Plaza offers 69,270 square feet of retail space. At the time of sale, the property was 100 percent leased to a variety of tenants, including Michaels and PetSmart. Ryan Schubert and Michael Hackett of Cushman & Wakefield in Phoenix represented the seller in the deal.

January 24, 2023

Acquisitions Arizona Development Mixed-Use Multifamily Retail Top Stories Western

Joint Venture Completes Acquisition of Metrocenter Mall in Phoenix, Begins $850M Redevelopment

by Jeff Shaw January 24, 2023

PHOENIX — Concord Wilshire Capital and TLG Investment Partners, in partnership with Carl DeSantis’ CDS International Holdings Inc., have completed the acquisition of the Metrocenter Mall in Phoenix. The development group has formed a strategic alliance with Hines, an international real estate firm, to redevelop and repurpose the Metrocenter Mall into a walkable village that will be home to apartments, condominiums, curated boutiques, popular retail stores, restaurants, bars, a town-center park and other commercial and entertainment venues. The property spans approximately 64.2 acres of land in a Qualified Opportunity Zone. The plans for the village include over 2,600 multifamily units, 150,000 square feet of commercial space and 4,100 surface and garage-deck parking spaces. The development team has also signed agreements with the City of Phoenix for a public-private partnership for public improvements. The purchase includes both the Dillard’s building and U-Haul building, which formerly housed a Macy’s. Developers confirmed the planned $850 million redevelopment of the property will begin immediately. The redeveloped Metrocenter will be designed as a transit-oriented community, encompassing the city’s new light rail station currently under construction on the site. The City of Phoenix invested approximately $150 million to build the station, which is scheduled for completion …

January 24, 2023

Acquisitions Colorado Restaurant Retail Western

Westwood Financial Buys 225,224 SF Shops at Walnut Creek in Denver

by Amy Works January 23, 2023

DENVER — Westwood Financial has purchased The Shops at Walnut Creek, a community shopping center in Denver. InvenTrust Properties sold the asset for an undisclosed amount. At the time of sale, the 225,224-square-foot property was 94 percent occupied. Current tenants include TJ Maxx, HomeGoods, PetSmart, Michaels, Old Navy, Dollar Tree, Qdoba, Buffalo Wild Wings, Massage Envy, LensCrafters, Sephora and Lash Lounge. Brad Lyons of CBRE | National Retail Partners represented the seller in the deal.

January 23, 2023

Loans Multifamily Nevada Western

Pembrook Provides $38.2M in Financing to Acquire, Renovate Valencia Apartments in Las Vegas

by Amy Works January 23, 2023

LAS VEGAS — Pembrook Capital Management has provided a $27.6 million first mortgage bridge loan and a $10.6 million preferred equity investment for the acquisition and renovation of 127 apartment units located at 1455 E. Katie Ave. in Las Vegas. The name of the borrower was not released. The Valencia Apartments complex features 21 two-story buildings offering a total of 227 units spread across 10.5 acres. Pembrook’s financing allows for the purchase of 127 units (56 percent of the property), including 72 one-bedroom, 49 two-bedroom and six three-bedroom apartments. The financing also provides funds to acquire the additional units over the next 27 months. Upgrades to the units include new flooring, kitchen hardware, lighting and plumbing, as well as the installation of stainless steel kitchen appliances and in-unit washers/dryers. Common-area improvements include modernizing the clubhouse, sports facilities and pool, while providing new fitness equipment for the gym.

January 23, 2023

Newer Posts

Older Posts