GLENDORA, CALIF. — Clearwater Living has opened the sales office at Clearwater at Glendora, a 117-unit assisted living and memory support community in Glendora, approximately 25 miles east of Los Angeles. Construction on Clearwater at Glendora began in spring of 2021. The two-story, 117,000-square-foot property is being built on nearly three acres. When it is completed later this year, the community will feature 88 assisted living and 29 memory care apartments with studio, companion, one-bedroom and two-bedroom layouts.
LOS ANGELES — The Passman Group has arranged the sale of Beverlywood Plaza, a shopping center located in Beverlywood, a neighborhood in the Westside region of Los Angeles. The property traded for $6.7 million, or $710 per square foot. The names of the buyer and seller were not released. Situated on a 13,500-square-foot lot, the property features 9,500 square feet of retail space. Current tenants include Beverly Robertson Veterinary Clinic and Beverlywood Market. David Passman, Marc Pakravan and Michael Navi of The Passman Group represented the seller in the deal.
HILLSBORO, ORE. — JLL Capital Markets has brokered the sale of a single-story call center building, located at 10500 NE Walker Road in Hillsboro, a suburb of Portland. A public REIT sold the asset to Hines Global Income Trust for an undisclosed price. Situated on an 18.9-acre site, 10500 NE Walker Road was renovated in 2009. The property features 16-foot ceiling heights, three dock-high doors, two grade-level doors, 938 parking spaces and LEED Silver certification. The property is fully leased to a long-term financial services tenant. Buzz Ellis, Adam Lasoff, Adam Taylor, Ira Virden, Carrie Kahn, Frank Solorzano and Conan Lee of JLL Capital Markets represented the seller and procured the buyer in the deal.
ANCHORAGE, ALASKA — Time Equities Inc. has purchased Midtown Mall and 5900 Old Seward Highway in Anchorage from Seritage Growth Properties for a $44 million. Totaling 252,663 square feet, the deals mark Time Equities’ entry to Alaska. Midtown Mall is a 164,664-square-foot, grocery-anchored shopping center. At the time of sale, the property was 81 percent leased. Current tenants include Carr’s Grocery Store, Guitar Center, Nordstrom Rack and Planet Fitness. Situated on 7.8 acres, 5900 Old Seward Highway is a 98,087-square-foot former Sears warehouse building, which is currently vacant. Ami Ziff, Jonathan Kim and Grant Scott provided in-house representation for Time Equities, while Dino Christophilis of CBRE represented the seller in the deal.
AURORA, DENVER AND GREELEY, COLO. — Capstone Apartment Partners has arranged the $30 million sale of a 184-unit LIHTC apartment portfolio in metro Denver. The names of the seller and buyer were not released. The portfolio comprises three Section 8 seniors housing assets: Aurora Village in Aurora, Kings Point in Denver and University Plaza in Greeley. Sean Holamon, Nik MacCarter and Adam Riddle of Capstone represented the seller in the transaction.
IRVINE, CALIF. — Boureston Development has completed the disposition of Woodbridge Square, a multi-tenant medical office building in Irvine. Anchor Health Properties acquired the property for $27.6 million. Located at 4980 Barranca Parkway, the 36,104-square-foot building was 94 percent leased at the time of sale to 18 medical, dental and laboratory tenants. Sean Fulp, Mark Schuessler, Ryan Plummer, John Scruggs, Kevin Shannon, Paul Jones and Ken White of Newmark represented the seller in the transaction.
LOGAN, UTAH — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Williamsburg, an 82-unit independent living and assisted living community in Logan. Located in the northern portion of Utah near the Idaho border, the facility was built in 1981 and renovated in 2015. It totals approximately 62,953 square feet and is situated on approximately 1.8 acres of land. The seller was a regional owner-operator based in Utah. The buyer is a California-based private owner looking to expand its portfolio of independent living communities. As such, the new owner plans to convert the facility to all independent living units. Vince Viverito, Jason Punzel and Brad Goodsell of SLIB handled the transaction. The price was not disclosed.
PHOENIX AND ALBUQUERQUE, N.M. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of a three-property apartment portfolio in Arizona and New Mexico. JB Partners sold the assets to Bridge Investment Group for $201.7 million. The portfolio includes the 296-unit Villages at Metro Center, which was built in 1979 on 11 acres in Phoenix; the 273-unit Crystal Creek, which was constructed in 1985 on eight acres in Phoenix; and the 216-unit Indigo Park, which was built in 1974 on 7.5 acres in Albuquerque. Steve Gebing and Cliff David of IPA represented the seller and procured the buyer in the transaction. Ryan Sarbinoff of Marcus & Millichap served as broker of record in New Mexico.
LAS VEGAS — UnCommons Matter Real Estate Group has broken ground on Phase II of its $400 million, 40-acre mixed-use community in southwest Las Vegas. The second phase will feature a conference center, two office buildings and an additional parking garage with nearly 750 stalls. Construction is slated for completion by summer 2023. Components of Phase II include The Assembly, a 5,000-square-foot conference center offering indoor and outdoor space accommodating meetings for 10 to 250 people; and two four-story office buildings totaling 180,000 square feet with 20,000-square-foot to 25,000-square-foot floor plates available for lease. The buildings will have connected patio balconies enabling tenants to enhance their spaces with floors that are up to 45,000 square feet. Phase II will bring UnCommons to more than 335,000 square feet of office space. Upon full build-out, the property will offer five office buildings and four parking garages.
CARLSBAD, VISTA AND SAN MARCOS, CALIF. — BentallGreenOak has acquired a 614,020-square-foot industrial portfolio consisting of seven manufacturing and distribution buildings in the northern suburbs of San Diego. The name of the seller and acquisition price were not released. The portfolio includes: Vista Distribution Center, a three-building property at 1205, 1211-1215 and 1225 Park Center Drive in Vista 2710 Progress St. in Vista 1880 Diamond St. and 120 Mata Way in San Marcos 2281 Las Palmas Drive in Carlsbad At the time of sale, the portfolio was 100 percent leased. Jeffrey Cole, Aric Starck, Jeff Chiate, Mike Adey, Ed Hernandez and Drew Dodds of Cushman & Wakefield’s Southern California Capital Markets team represented the seller in the deal.