TUCSON, ARIZ. — Marcus & Millichap has brokered the sale of Westside Commons, a multifamily property in Tucson. A limited liability company acquired the asset from a limited liability company for $10.7 million. Located at 1335 West St. Mary’s Road, Westside Commons offers 84 apartments. Hamid Panahi and Clint Wadlund of Marcus & Millichap represented the seller and procured the buyer in the deal.
SAN DIEGO — Juniper Ridge Partners has acquired Bay Bridge Center in San Diego from Jon and Donna Stockholm Trust for $10.4 million. Located at 1943-1995 Main St., Bay Bridge Center offers 38,300 square feet of mixed-use flex space. The five-building, multi-tenant asset is situated on 2.1 acres in San Diego’s Harbor/Downtown submarket. At the time of sale, Bay Bridge Center was fully leased to six tenants, including San Diego County Schools and Wrensilva, a high-end audio manufacturer. The property features 400 feet of frontage on Main Street and Harbor Drive, secure yard areas and proximity to a San Diego Trolley stop with immediate access to Interstate 5. Chris Holder, Mark Lewkowitz and Will Holder of Colliers represented the buyer and seller in the deal.
LAKEWOOD, COLO. — Matthews Real Estate Investment Services has arranged the sale of a Best Western hotel located at 3440 S. Vance St. in Lakewood. The asset traded for $7.2 million. The names of the seller and buyer were not released. Simon Assaf and Hunter Davis of Matthews handled the transaction. Constructed in 1995, the 144,619-square-foot hotel features 112 guest rooms.
SAN DIEGO — Locally based health system Scripps Health has completed the development of a new hospital located in the La Jolla neighborhood of San Diego. Construction costs totaled $664 million. Dubbed Scripps Memorial Hospital La Jolla North Tower, the building totals 420,000 square feet across eight floors. The property is situated on the Scripps Memorial Hospital La Jolla campus, about 15 miles north of downtown San Diego. Designed by HGA Architects, the hospital building features 188 inpatient beds, a rooftop helistop, nine operating rooms, three interventional radiology suites, expanded imaging capabilities, a NICU (neonatal intensive care unit), labor and delivery section and postpartum services. McCarthy Building Cos. served as the general contractor for the tower, which is directly connected to the Prebys Cardiovascular Institute, also constructed by McCarthy. According to Scripps Health, the tower was planned and constructed over eight years. Financing for the project included a $2.5 million gift from philanthropist Barbara Smith. Scripps Health, a $5 billion not-for-profit health system, operates four hospitals on five campuses. — Hayden Spiess
ANAHEIM, CALIF. — MG Properties has purchased Citron Apartments, a multifamily community located at 901 E. South St. in Anaheim, for $144 million. Built in 2023, the four-story Citron features 314 apartments with modern finishes and upscale amenities. Kevin Mignogna, Charlie Haggard, Lee Scott, Joey Guarino and Michael Beach of Berkadia arranged financing for the transaction through Freddie Mac. With this acquisition, MG has added 17 properties to its portfolio over the past 12 months, totaling more than $2.1 billion.
QUEEN CREEK, ARIZ. — TerraLane Communities, the build-to-rent (BTR) division of residential investment firm IHP Capital Partners, has acquired 22 acres in Queen Creek, about 44 miles southeast of Phoenix, for the development of TerraLane at Hudson Station. TerraLane is partnering with general contractor Hancock Builders in the construction of TerraLane at Hudson Station. This will be the sixth residential development the two firms are completing together. Mark-Taylor Residential will oversee leasing and property management. Western Alliance Bank and 400 Capital Management are providing financing for the project. Construction has commenced, and leasing is anticipated to begin in 2027. The BTR community will include 218 units. Twenty-four of the units will be single-story, two-bedroom duplexes; 97 will be three-bedroom townhomes; and the remaining 97 will be four-bedroom townhomes. Each home will feature a two-car, direct-access garage, stainless steel appliances and integrated smart home technology, such as keyless entry, remote thermostat controls and fiberoptic cabling to support future connectivity needs. Community amenities will include a gated entrance, pool and hot tub, fitness center, grass park, shaded playground, grilling stations, valet trash service and on-site maintenance. Wi-Fi will be available throughout common areas, and all homes will be pet-friendly with built-in dog …
BROOMFIELD, COLO. — Ryan Cos. and PGIM Real Estate, the $206 billion real estate investment and financing arm of Prudential Financial, on behalf of of its U.S. core-plus investment strategy, have completed Northwest Commerce Center in Broomfield. Situated within Verve Innovation Park and adjacent to Rocky Mountain Metropolitan Airport, the Class A industrial project offers more than 343,000 square feet spread across two buildings. Each building features a clear height of 32 feet, LED lighting, an ESFR sprinkler system and heavy power with 4000-amp electrical service. The project also includes 68 dock doors and 22 trailer parking stalls. Ryan Cos. built and developed the property. Carmon Hicks, Patrick McGettigan and Jason White of JLL have been retained to market and lease the project.
BOZEMAN, MONT. — Clarion Partners and Wentworth Property Co. will develop Highmark, a townhome and apartment community in Bozeman. Situated on 8 acres in a Qualified Opportunity Zone (QOZ) in the South University District master-planned neighborhood, Highmark will feature 162 units. Completion is slated for late 2025, with leasing scheduled to begin in April. Highmark will offer a variety of units ranging from single-bedroom apartments to three-story townhomes with 10-foot ceilings, modern kitchens with quartz countertops and stainless steel appliances, wood-vinyl flooring, ample storage, full-size washers/dryers and individual yards and balconies for the townhomes. Community amenities will include a clubroom, fitness center, package locker room, outdoor gathering area, hot tub, dog park, pet spa and more than 300 parking spaces.
AURORA, COLO. — Sidford Capital has acquired Aurora Plaza, a shopping center located at 15001-15293 E. Mississippi Ave. in Aurora, from an undisclosed seller for $16 million. Built in 1982 and renovated in 2001, Aurora Plaza offers 115,461 square feet of retail space on 10.6 acres. The property, which is 80 percent occupied, is leased to 27 tenants, including Hero Dental, Kid to Kid, Rent-A-Center and Domino’s Pizza. Jason Schmidt and Austin Snedden of JLL Capital Market’s Investment Sales and Advisory team represented the seller in the deal.
THOUSAND OAKS, CALIF. — Affinius Capital has provided $54.7 million of preferred equity for the ground-up development of Hillcrest Apartments, a project The Latigo Group is developing in Thousand Oaks. The four-story property will feature ground-floor retail space and 333 units in a mix of one-, two- and three-bedroom floor plans. Amenities will include a rooftop terrace, pool, fitness center, coworking spaces, a multi-sport simulator and wellness center with a sauna and cold plunge. Latigo estimates the project will be complete by the first quarter of 2028. Bercut Smith of JLL arranged the financing.
