Western

Applied Medical Resources Acquires 33,787 SF Industrial Warehouse in North Las Vegas

by Amy Works November 3, 2021

NORTH LAS VEGAS, NEV. — Applied Medical Resources Corp. has purchased an industrial facility located at 3955 N. Pecos Road in North Las Vegas. Aria Investments sold the asset for $5.3 million. Dean Willmore, Alex Stanisic, Mike Willmore and Lauren Willmore of CBRE represented the seller in the deal. Built in 2006, the 33,787-square-foot warehouse features 24-foot clear heights, seven private offices, two dock-high loading doors, three grade-level loading doors, a paved, fenced yard and a 50-stall parking lot.

November 3, 2021

Acquisitions Hospitality Washington Western

SPI Hospitality Buys Five-Property Woodspring Suites Hotel Portfolio in Washington for $88M

by Amy Works November 2, 2021

REDMOND, TUKWILA, RICHLAND, LAKEWOOD AND VANCOUVER, WASH. — Dallas-based SPI Hospitality has acquired five Woodspring Suites properties in Washington for a total of $88 million. West77 Partners sold the portfolio for $88 million. The 596-room, extended-stay hotel portfolio includes Woodspring Suites Redmond at 7045 180th Ave. NE in Redmond, Woodspring Suites Tukwila at 15637 W. Valley Highway in Tukwila, Woodspring Suites Richland at 1370 Tapteal Drive in Richland, Woodspring Suites Lakewood at 11329 Pacific Highway in Lakewood and Woodspring Suites Vancouver at 200 NE 104th Ave. in Vancouver. The Redmond and Tukwila properties were completed in 2018, the Richland and Lakewood assets opened in late 2020 and the Vancouver hotel is slated to open in November. Matthew Behrens, Chris Burdett and Jordan Caudill of CBRE Hotels represented the seller in the transaction.

November 2, 2021

Acquisitions California Industrial Western

CapRock Partners Divests of 210,156 SF Distribution Facility in San Diego’s Otay Mesa

by Amy Works November 2, 2021

SAN DIEGO — CapRock Partners has completed the disposition of a newly renovated distribution center located at 1855 Dornoch Court in San Diego’s Otay Mesa submarket. An investment firm acquired the property for an undisclosed price. CapRock completed several million dollars in capital improvements to the 210,156-square-foot building, which was originally built in the late 1980s. Situated on 10.6 acres, the facility features functional divisibility with a variety of bay sizes, 26- to 28-foot clear heights, grade- and dock-high loading doors, ESFR sprinkler systems and concrete truck courts. Bryce Aberg, Jeff Chiate, Jeffrey Cole, Ed Hernandez, Mike Adey and Zach Harman of Cushman & Wakefield represented the seller in the deal. Brant Aberg of Cushman & Wakefield along with Joe Anderson and Andy Irwin of JLL provided market leasing advisory.

November 2, 2021

California Development Multifamily Seniors Housing Western

Kendal Corp. Breaks Ground on 221-Unit Seniors Housing Community in Healdsburg, California

by Amy Works November 2, 2021

HEALDSBURG, CALIF. — San Francisco Zen Center and The Kendal Corp. have broken ground on Enso Village, a 221-unit seniors housing community in the Bay Area city of Healdsburg. The development will sit on approximately 16 acres of land in what is called the North Village. The community will feature a vegetarian restaurant, demonstration kitchen, indoor pool and gym, meditation hall and onsite farm for growing fresh produce for the restaurant. Weitz is building the project, which is scheduled for completion in 2023.

November 2, 2021

Acquisitions Industrial Washington Western

Marcus & Millichap Negotiates $14.2M Sale of Oakridge Business Park One in Redmond, Washington

by Amy Works November 2, 2021

REDMOND, WASH. — The Leibsohn Group of Marcus & Millichap has arranged the sale of Oakridge Business Park One, an industrial property in Redmond. A local investor acquired the property from an undisclosed seller for $14.2 million. Located at 17965 NE 65th St., Oakridge Business Park One features 41,900 square feet of industrial space. At the time of sale, the property was fully leased to a single tenant on a long-term lease. The buyer plans to eventually redevelop the asset. Brian Leibsohn and Raymond Vara of The Leibsohn Group in Marcus & Millichap’s Seattle office represented the seller and procured the buyer in the deal.

November 2, 2021

Acquisitions California Industrial Western

Dalfen Industrial Acquires 80,527 SF Markham Distribution Center in Perris, California

by Amy Works November 2, 2021

PERRIS, CALIF. — Dalfen Industrial has purchased Markham Distribution Center, an industrial property located at 212 Markham St. in Perris. Terms of the transaction were not released. The 80,527-square-foot property was built in 2019. The acquisition is the eighth West Coast purchase Dalfen has made in the past seven months.

November 2, 2021

Acquisitions Affordable Housing California Development Life Sciences Mixed-Use Multifamily Office Top Stories Western

IQHQ Buys Site in Bay Area to Develop New Elco Yards Life Sciences Campus

by John Nelson November 2, 2021

REDWOOD CITY, CALIF. — IQHQ, a private life sciences developer and owner with offices in San Diego and Boston, has purchased a “shovel-ready” development site in the Bay Area town of Redwood City that is fully entitled for mixed-use. The firm plans to develop Elco Yards, a project that will feature four life sciences buildings and two residential communities, as well as green space open to the public. The four office buildings will span 600,000 square feet and include laboratory, meeting and research and development space. The buildings are designed to meet LEED Gold standards. “Elco Yards represents an iconic project in a thriving life sciences market with a proven track record of attracting top companies and diverse talent,” says Steve Rosetta, CEO of IQHQ. “We are excited to advance this project, which is fully entitled and well-positioned to address the unmet demand for premier lab space in the Bay Area.” The multifamily portion will include two communities totaling 540 units. IQHQ is partnering with Charleston, S.C.-based Greystar for the residential component, which will feature 147 income-restricted units, according to Redwood City Mayor Diane Howard. “We look forward to Greystar’s continuing involvement and the creation of much-needed housing in Redwood …

November 2, 2021

California Hospitality Loans Western

Berkadia Secures $148M in Refinancing for Town & Country Resort in San Diego

by Amy Works November 1, 2021

SAN DIEGO — Berkadia has secured a $148 million loan for the refinancing of Town & Country Resort in San Diego. The borrower is a partnership between Lowe and Atlas Hotels. Scott Hall and Aaron Lapping of Berkadia arranged the floating-rate loan through Värde Partners for the borrower. Situated on 31 acres in San Diego’s Mission Valley submarket, Town & Country Resort features 671 guest rooms, five food and beverage outlets, two resort pools, a water slide and more than 292,000 square feet of indoor and outdoor meeting space. CoralTree Hospitality Group manages the resort.

November 1, 2021

Acquisitions Colorado Restaurant Retail Western

Blue West Capital Negotiates Sale of Mineral Shops in Littleton, Colorado

by Amy Works November 1, 2021

LITTLETON, COLO. — Blue West Capital has brokered the sale of Mineral Shops, a neighborhood retail center at 4760 W. Mineral Ave. in Littleton. Terms of the transaction were not released. Mineral Shops features 9,910 square feet of retail space and was 100 percent occupied at the time of sale. Tenants include Rita B Salon, Blush Nail Salon, King Liquor, Dunkin’ and Columbine Dentistry. Robert Edwards and Carly Kelly of Blue West Capital represented the buyer, a Texas-based private real estate investment company, and seller, a San Francisco-based private real estate investor, in the deal.

November 1, 2021

Acquisitions Arizona Restaurant Retail Western

Phoenix Commercial Advisors Brokers $10M Sale of Shops at Cooley Station Near Phoenix

by Amy Works November 1, 2021

GILBERT, ARIZ. — Phoenix Commercial Advisors has negotiated the sale of Shops at Cooley Station, two hard-corner retail shop buildings located at 4049 E. Williams Field Road in Gilbert. The property traded for $10 million, or $628 per square foot. The names of the buyer and seller were not released. The 15,912-square-foot building was fully occupied at the time of sale. Current tenants include Pacific Dental, Wing Stop, F45, Little Caesars, Life Quest and My House. Chad Tiedeman of Phoenix Commercial Advisors represented the seller in the deal.

November 1, 2021

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