Western

Park303-Phase-2-Glendale-AZ

GLENDALE, ARIZ. — LPC Desert West, the Southwest arm of Dallas-based Lincoln Property Co., has broken ground on Phase II of Park303 in Glendale. Totaling nearly 2.5 million square feet, the second phase will feature three industrial buildings fronting Loop 303. Park303 Phase II includes Building A, totaling 629,835 square feet on 38 acres; Building B, totaling 483,300 square feet on 30 acres; and Building C, totaling 1.2 million square feet on 72 acres. Similar to Park303 Phase I, Buildings A and B are designed to quickly convert from two stand-alone buildings into one 1.2 million-square-foot facility, with 104,052 square feet of infill space, to meet the needs of a major single user. Phase II buildings will feature 40-foot clear heights, touchless technology throughout, 25-foot glass entries, 3,000 amps of power and seven-foot slabs over four inches of crushed rock a steel. Additionally, a shear bracing will allow for highly modern, automated racking and picking equipment. The buildings will include five-foot by 10-foot clerestory windows on all elevations. The second phase will also feature 430 dock doors, 778 trailer stalls and more than 1,556 parking stalls, as well as a basketball/pickleball court, barbecue station, shaded outdoor eating area and employee …

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MEDFORD AND EUGENE, ORE., AND BUTTE AND BILLINGS, MONT. — Harrison Street has completed the disposition of five senior housing properties valued at $193.5 million to The Springs Living. The properties were held across several of Harrison Street’s U.S Opportunity Funds and related co-investment vehicles. The portfolio consists of 622 independent living, assisted living and memory care units in Medford, Eugene, Butte and Billings. As of December 2021, the properties had an average occupancy of 93 percent. Further details on the properties were not disclosed.

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Wasatch-Group-Apts

LOGAN, UTAH — KeyBank Real Estate Capital has arranged $191 million in life company loans for the Wasatch Group, a fully integrated real estate development, construction, property management and guaranty capital company based in Logan. The loans will refinance debt on five apartment communities across the Rocky Mountains and Western United States. The portfolio comprises 1,398 units in Arizona, California, Colorado and Utah. Brian Caudel, Mike Keach, Greg Halvorson and Jack Tidrick of KeyBank structured the financing, which includes loans with seven-year, full-term interest-only structures and a 2.62 percent interest rate.

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Basalite-1801-S-Rolle-Ave-Fort-Lupton-CO.jpg

FORT LUPTON, COLO. — Ware Malcomb and Murray and Stafford, as general contractors, have completed the development of Basalite Plant, a manufacturing facility located at 1801 S. Rolle Ave. in Fort Lupton. Built to manufacture concrete masonry units and pavers, the 197,000-square-foot facility features 60-foot ceilings in certain areas to house equipment up to 50 feet tall. The project contains approximately 9,000 square feet of office space, including a lobby, conference rooms, breakrooms and an IT room. Related site works include a waste area, a crush storage area and outdoor product storage. Ware Malcomb’s Denver and Pleasanton, Calif., offices provided the civil engineering, architecture and interior design services for the project.

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Nix-99-Lynnwood-WA

LYNNWOOD, WASH. — Marcus & Millichap has brokered the sale of The Nix 99 Building at Mukilteo Gateway, a retail property in Lynnwood. A private investor sold the asset to Lighthouse Diving for $1.9 million. Located at 13718 31st Ave. W, The Nix 99 Building at Mukilteo Gateway features 5,200 square feet of retail space. At the time of sale, the property was vacant. The new owner plans to open a diving gear superstore at the site. Christopher Secreto and Stren Lea of Marcus & Millichap’s Seattle office represented the seller, while Art Thimpson of NAI-PSP represented the buyer in the deal.

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SEATTLE — The RMR Group Inc. (NASDAQ: RMR) has begun the redevelopment of 351, 401 and 501 Elliott Avenue West in Seattle into a project dubbed Unison Elliott Bay. The existing three office buildings will be transformed into Class A office and life sciences space totaling more than 300,000 square feet. Amenities will include an outdoor lounge, conference and training rooms, fitness facility, new lab mechanical infrastructure and two backup generators for labs. Tenants will also have access to covered and surface parking, bike storage and electric vehicle charging stations. Customizable floor plates will range from 21,000 to 27,500 square feet. The buildings are located near the new Climate Pledge Arena, home of the Seattle Kraken National Hockey League team, as well as 15 acres of trails, beaches and open space. Tenants will also have access to onsite food options in addition to the dining and retail amenities of Seattle’s Lower Queen Anne neighborhood. “Unison’s customizable floor plates, distinctive spaces and common areas that prioritize wellness, with views of the natural beauty of the Puget Sound and Olympic Mountains, will be in demand from an array of tenants,” says Chris Bilotto, senior vice president of RMR. “We anticipate delivery in …

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Pioneer-Business-Center-Las-Vegas-NV

LAS VEGAS — Beedie has released its plans to develop Pioneer Business Center, a two-building industrial condominium development in Las Vegas. Located at 6370 and 6340 S. Pioneer Way, Pioneer Business Center will feature two concrete tilt-up structures offering a total of 261,751 square feet of industrial space. Building 1 will offer units ranging from 7,791 square feet to 13,060 square feet, 28-foot clear heights and a pre-built structural steel mezzanine for additional office space or warehouse storage in select units. Building 2 will offer 13,186-square-foot to 20,571-square-foot units and 32-foot clear heights. Both buildings will feature best-in-class specifications, including dock and grade loading, LED warehouse lighting, three-phase power and ESFR sprinkler systems. Additionally, the development will provide users with room for ample truck maneuvering and designated onsite parking. The company has selected Kevin Higgins, Garrett Toft, Sean Zaher, Jake Higgins and Kelsey Higgins of CBRE to market and sell the development.

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Washington-Plaza-Los-Angeles-CA

LOS ANGELES — Marcus & Millichap (NYSE: MMI) has arranged the sale of Washington Plaza, a grocery-anchored retail property located in downtown Los Angeles. Southern California-based Eagles Nest Property LLC sold the asset to Reliable Properties for $44.7 million. The 136,908-square-foot asset was fully occupied at the time of sale. Long-term tenants include 99 Cents Only and Rite Aid. Additional tenants include DaVita Dialysis, Ace Cash Express, Dunkin’, Baskin Robbins, WaBa Grill, El Pollo Loco, T-Mobile, Panda Express and Boost Mobile. Orbell Ovaness and Ara Rostamian of the Ovaness-Rostamian Group of Marcus & Millichap represented the seller and procured the buyer in the transaction.

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Capital-Manor-CCRC-Salem-OR

SALEM, ORE. — Ziegler has arranged $58.4 million in bond financing for Capital Manor, a continuing care retirement community (CCRC) in Salem. Capital Manor features 302 independent living units and 83 residential care beds with an additional 34 memory care beds. Life Care Services has operated the community since 2010. The financing will refund bonds from 2012 while funding a renovation project that will include a new façade and refreshed common areas. “It has been exciting to see Capital Manor, under Life Care Services’ leadership, execute a major operations turnaround, expand its living options, add memory care services, and beautify and expand its activity and hospitality areas,” says Mary Muñoz, senior managing director at Ziegler.

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Smoky-Hollow-Industrial-Campus-El-Segundo-CA.jpg

EL SEGUNDO, CALIF. — Barings has partnered with Ocean West Capital Partners to acquire Smoky Hollow Flex Industrial Campus in El Segundo’s Smoky Hollow submarket. Terms of the off-market transaction were not released. Situated on 5.1 acres, the three-property campus offers 136,610 square feet of flex industrial space. The owners intend to implement a repositioning, including the construction of a new flex industrial building and 266-stall parking structure. Renovations to the three existing buildings will include upgrades to the exterior and building systems while constructing outdoor recreation spaces.

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