Western

Green Leaf Capital Partners Buys Encore Apartments in Seattle for $35.3M

by Jeff Shaw May 22, 2023

SEATTLE — Green Leaf Capital Partners has acquired the 96-unit Encore apartments in Seattle for $35.3 million. The community is located in the Columbia City neighborhood, adjacent to the Columbia City Link light rail stop. It also contains 6,100 square feet of street-level retail. Originally developed as high-end condominiums, the mixed-use building was completed in 2022. Giovanni Napoli, Philip Assouad, Ryan Harmon, Nicholas Ruggiero and Anthony Palladino of Institutional Property Advisors represented the seller, BDR Holdings LLC, and procured the buyer in this transaction.

May 22, 2023

Acquisitions California Life Sciences Office Western

CBRE Negotiates Sale of 79,036 SF R&D/Flex Facility in San Dimas, California

by Jeff Shaw May 22, 2023

SAN DIMAS, CALIF. — San Dimas CA LLC has purchased a 79,036-square-foot R&D/flex facility in San Dimas. The facility is located at 960 Overland Court. The two-story property sits on 4.2 acres and is fully occupied by Collins Aerospace, a Charlotte, N.C.-based aerospace and defense product supplier and subsidiary of Raytheon Technologies. The facility is a mission-critical location for Collins and houses the company’s research and development operations. Originally built in 1987, the property recently underwent significant landlord renovations and tenant improvements. It features a mix of open-plan offices and private offices, conference rooms, multiple kitchenettes, and 7,600 square feet of warehouse space with two dock-high positions and two truck wells. Mark Shaffer, Anthony DeLorenzo, Gerard Poutier, Bryan Johnson and Nick Williams with CBRE’s Investment Properties—California/Arizona/Nevada, along with Todd Tydlaska, Mike Longo, Melissa May Moock and Sean Sullivan with CBRE’s Institutional Capital Partners, represented the undisclosed seller in the transaction.

May 22, 2023

Acquisitions California Healthcare Office Western

Avison Young Brokers $5M Sale of Medical Office Building in Santa Monica, California

by Jeff Shaw May 22, 2023

SANTA MONICA, CALIF. — Avison Young has brokered the sale of a medical office building in downtown Santa Monica. US 528 Arizona Owner LLC acquired the property for $5 million. The 3,049-square-foot medical office building is located at 520 Arizona Ave. It was acquired as part of a land assemblage for the development of a mixed-use project. Mitch Stokes of Avison Young was the sole broker in the transaction.

May 22, 2023

Acquisitions Industrial Nevada Western

Next Century Rebar Buys Las Vegas Warehouse for $3.7M

by Jeff Shaw May 22, 2023

LAS VEGAS — Next Century Rebar LLC has acquired a 19,512-squre-foot industrial warehouse in Las Vegas for $3.7 million. The facility is located at 3020 S. Valley View Blvd. within the West Central submarket. The two-story building features 18-foot clear heights, concrete tilt-up construction, four drive-in doors and Valley View frontage. CBRE’s Tyler Ecklund represented the seller, MSC Valley LLC, in the transaction.

May 22, 2023

Acquisitions Colorado Industrial Western

NorthPeak Arranges Sale of Industrial Building in Englewood, Colorado for $1.9M

by Jeff Shaw May 22, 2023

ENGLEWOOD, COLO. — A local buyer has purchased a 14,200-square-foot industrial building in Englewood for $1.9 million. The facility is located at 2622 S. Raritan Circle. The seller, which was in a 1031 exchange, secured a higher price than what traditional financing would have offered due to a high interest rate environment, according to NorthPeak Commercial Advisors, which represented both parties. Meanwhile, the purchase allowed the buyer to continue purchasing triple-net industrial properties within the same business park as its other holdings. The transaction also allowed the company to simultaneously complete a 1031 exchange into a more passive investment than a previous building.

May 22, 2023

Acquisitions Multifamily Nevada Western

Davlyn Investments Acquires Spectrum Apartments in Las Vegas for $67M

by Jeff Shaw May 19, 2023

LAS VEGAS — San Diego-based owner-operator Davlyn Investments has closed on the $67 million purchase of Spectrum, a 252-unit apartment community in the Curve neighborhood of Las Vegas. Taylor Sims and Brady Cleary of Cushman & Wakefield represented the undisclosed seller. Mitch Clarfield and Meghan Varga of Newmark arranged acquisition financing. Spectrum was built in 2010 and offers one- and two-bedroom floor plans. Davlyn Investments has rebranded the property as The Michael B Townhomes and Flats.

May 19, 2023

Development Industrial Nevada Western

Rockefeller Group Buys Development Site in Las Vegas for 145,630 SF Cheyenne Industrial Park

by Jeff Shaw May 19, 2023

LAS VEGAS — The Rockefeller Group has acquired seven acres of land in Las Vegas to develop two speculative industrial buildings totaling 145,630 square feet. R A Plaza LLC sold the land for $8.5 million. The project, Cheyenne Industrial Park, will be located at 3102 N. Lamb Blvd. and is fully entitled. Rockefeller plans to begin construction by the end of year. Rockefeller recently started construction on its first development in the region, Nellis Logistics Center, a 134,100-square-foot speculative distribution facility, at the southwest corner of North Nellis Boulevard and East Carey Avenue in Clark County.

May 19, 2023

Acquisitions California Multifamily Western

CBRE Brokers $15.4M Sale of Ranchero Palms Apartments in San Jose

by Jeff Shaw May 19, 2023

SAN JOSE, CALIF. — CBRE has arranged the $15.4 million sale of Ranchero Palms, a 61-unit apartment community in San Jose. Keith Manson, Zachary Greenwood and Mac Watson represented both the buyer and seller. Ranchero Palms features one- and two-bedroom floor plans, and was recently renovated with a new entryway, railings, stairways and main electrical service. According to Apartments.com, the property was built in 1969 and offers community amenities such as a pool, a sundeck, on-site laundry facilities and dry-cleaning services.

May 19, 2023

Acquisitions Multifamily Seniors Housing Western

SLIB Arranges Sale of 130-Unit Seniors Housing Portfolio in Mountain States

by Jeff Shaw May 19, 2023

GLEN ELLYN, ILL. — Senior Living Investment Brokerage (SLIB), a Glen Ellyn-based broker, has arranged the sales of two seniors housing communities in the Rocky Mountains states. The facilities total 130 units and were built in 1996 and 1999. The properties are 32,897 and 32,904 square feet, and are situated on approximately 1.81 and 4.03 acres of land. The buyer is a large, regional owner-operator based out of California with over 30 communities nationwide. The new owner will invest money in capital improvements and continuing the strong operational performance. The seller and price were not disclosed. Jason Punzel, Vince Viverito, Brad Goodsell and Matthew Alley of SLIB handled the transaction.

May 19, 2023

Colorado Leasing Activity Multifamily Western

Asset Living to Manage St. Paul Collection Multifamily Community in Denver

by Jeff Shaw May 19, 2023

DENVER — Asset Living has been selected to manage St. Paul Collection, a 165-unit apartment building in Denver’s Cherry Creek North neighborhood. St. Paul Collection offers one-, two- and three-bedroom floor plans. Community amenities include a pool with hot tubs and day beds, a lounge, fitness center, sun terrace, bike storage and a coffee bar.

May 19, 2023

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