NORTHGLENN, COLO. — Headwaters has begun pre-leasing at Aspendale Northglenn, the owner and developer’s new active adult community in Northglenn. This project marks the second Colorado location for the newly launched Aspendale brand. Headwaters broke ground on the development in April 2024. Scheduled to begin move-ins in early 2026, the community will total 172 apartments across four stories. The property will also feature an 8,800-square-foot clubhouse, which will offer lifestyle programming, wellness spaces and gathering areas.
MESQUITE, NEV. — TK Storage has completed the sale of Pioneer Square, a 52,195-square-foot self-storage facility in Mesquite. A regional operator acquired the asset for an undisclosed price. Built in 2015 on 2.8 acres, Pioneer Storage offers 285 self-storage units across eight single-story self-storage buildings including 161 drive-up units. The property features a gated entry with digital keypad, an onsite management office in front of the entrance gate, 24/7 video surveillance throughout the facility, concrete driveways and units with roll-up doors. Jordan Farrer of The LeClaire-Schlosser Group of Marcus & Millichap represented the seller in the transaction.
TACOMA, WASH. — The Vara Group of Marcus & Millichap has arranged the sale of NVA Referral Center, a net-lease property in Tacoma. A limited liability company sold the asset to an undisclosed buyer for $12.6 million. NVA Summit Veterinary Management LLC occupies the 27,199-square-foot property on a 10-year triple-net lease basis. The property is located at 2505 S. 80th St. Matthew Herman and RJ Vara of The Vara Group of Marcus & Millichap represented the seller in the deal.
MORENO VALLEY, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of a single-tenant retail property at 22350 Cactus Ave. in Moreno Valley. Glendale, Calif.-based Chase Partners sold the asset to an Orange County, Calif.-based private investor for $2.7 million, or $1,817 per square foot. Starbucks Coffee occupies the 1,500-square-foot property, which includes a drive-thru. Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller, while David Kluver of Lee & Associates represented the buyer in the transaction.
SEATTLE — Starbucks Coffee has announced that it will be eliminating roughly 900 non-retail U.S. jobs, with additional plans to close several hundred underperforming company-operated stores, as part of a broader $1 billion restructuring effort. The company’s store count will decrease by about 1 percent, which translates to roughly 500 closures for the company, as reported by CNBC. Starbucks plans to end its fiscal year with almost 18,300 North American locations, including both company-operated and licensed cafés. Brian Niccol, chairman and CEO of Starbucks Coffee, stated that baristas from closing locations will receive severance packages or will be transferred to nearby locations. The latest store closures and layoffs at Starbucks are part of Niccol’s wide-ranging turnaround strategy in his first year at the company. Starbucks has reported six consecutive quarters of declining same-store sales, as well as a previous round of 1,100 corporate layoffs in February.
LAS VEGAS — Lincoln Property Co. has completed Windsor Commerce Park, the company’s first-ever ground-up industrial development in the Las Vegas market. Situated on 86 acres, the 1.6 million-square-foot Windsor Commerce Park features eight buildings ranging from 49,920 square feet to 397,440 square feet. Buildings offer rear loading and cross-dock configurations, up to 36-foot clear heights, up to 4,000 amps of power, large clerestory windows and move-in-ready speculative office suites. The property is nearly 50 percent leased with tenants including regional, national and global operators specializing in HVAC, logistics and e-commerce. The project team includes Lee & Sakahara as architect and R&O Construction. Kevin Higgins, Garrett Toft, Jake Higgins and Kelsey Higgins of CBRE are handling leasing for the project.
ROCKLIN, CALIF. — JLL Capital Markets, on behalf of Blue Coast Capital, has arranged a $27 million construction loan for Whitney Ranch Retail Center, a to-be-built, 52,200-square-foot neighborhood retail center in the Whitney Ranch community of Rocklin. The three-year construction loan was secured with U.S. Bank. Slated for completion in 2026, Whitney Ranch Retail Center will include 35,000 square feet of inline and standalone retail, as well as five ground-leased pad sites totaling 17,200 square feet. The property will be shadow anchored by Nugget Markets, an upscale supermarket chain with 16 locations across Northern California.
LAKEWOOD, COLO. — Conshohocken, Pa.-based CenterSquare has acquired North Bear Crossing, a 31,871-square-foot service retail property located in the Denver suburb of Lakewood. The center was 86 percent leased at the time of sale to tenants including Sports Clips, Domino’s Pizza, Kentucky Fried Chicken/A&W, Moe’s Original BBQ and F45 Training. North Bear Crossing marks CenterSquare’s 61st acquisition nationally.
LONE TREE, COLO. — Kaufman Hagan Commercial Real Estate has negotiated the sale of Park Meadows Village, a shopping center in Lone Tree. The asset traded for $3 million, or $392.67 per square foot. Three long-term tenants fully occupy the 7,640-square-foot retail plaza at 9447 Park Meadows Drive. Ryan Floyd and Colby Constantine of Kaufman Hagan handled the transaction. The names of the seller and buyer were not released.
AZUSA, CALIF. — A joint venture between Legacy Partners and PGIM has purchased University Village, a student housing property in Azusa, from Azusa Pacific University for $92 million. The community will be rebranded as Citrus Place Apartments and will be available for leasing by the end of September. Built in 1985, the property was previously used as student housing by Azusa Pacific University until the end of spring semester 2025. Located at 801 E. Alosta Ave., the 14-acre property consists of 20 two-story garden-style residential buildings offering a mix of 320 one- and two-bedroom apartments. Units include washers/dryers, kitchen appliances, dishwashers, central heating, air conditioning and individual hot water heaters. Community amenities include two outdoor swimming pools, a hot tub, a recreational room, two tennis courts, a basketball court and 600 parking spaces. In addition to the rebranding, Legacy Partners and PGIM plan to create a new leasing office and fitness center and make value-add improvements such as interior renovations, exterior paint and landscaping upgrades.