TACOMA, WASH. — 6th & Alder Partners LLC has completed the disposition of Sixth & Alder, an apartment building in Tacoma, to an undisclosed buyer for $46.2 million. Austin Kelley and Ben Norbe of Kidder Mathews represented the buyer in the off-market transaction. Located at 3118 6th Ave., Sixth & Alder features 111 apartments and 75,240 square feet of retail space. Community amenities include an on-site dog washing station, electric vehicle charging, fitness center and rooftop putting green.
PORTLAND, ORE. — Clarion Partners has sold Marine Drive Distribution Center, a four-building industrial facility located at 6308-6310 and 6204-6210 N. Marine Drive and 7409-7433 and 7507-7517 N. Leadbetter Road in Portland’s Rivergate submarket. LBA Logistics acquired the asset for an undisclosed price. Totaling 590,770 square feet, Marine Drive Distribution Center features one single tenant and three multitenant institutionally managed distribution warehouses. The buildings feature ESFR sprinklers, 24-foot to 26-foot clear heights, and 114 dock-high, 12 grade-level and 28 rail-served doors. At the time of sale, the buildings were fully triple-net leased to seven tenants. Mark Detmer, Buzz Ellis and Ryan Sitov of JLL Capital Markets represented the seller. Tyler Sheils of JLL Leasing is handling leasing of the property.
TUCSON, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale Metro Tucson, a multifamily property in Tucson. Vertical Street Ventures acquired the community for $38.5 million, or $165,948 per unit. Constructed in 1984, Metro Tucson offers 232 apartments spread across nine garden-style residential buildings, a swimming pool, laundry facilities and pet areas. Apartment amenities include wood-style vinyl plank flooring, dishwashers and private patios or balconies. Select units, approximately 22, have been upgraded with stainless steel appliances, carpeting in living spaces and bedrooms, and kitchen cabinetry with brushed nickel hardware. Hamid Panahi, Clint Wadlund, Steve Gebing and Cliff David of IPA represented the seller, a private owner, and procured the buyer in the deal.
TUKWILA, WASH. — Dalfen Industrial has purchased Olympic Logistics Center, an industrial property in Tukwila, a suburb of Seattle. Terms of the off-market transaction were not released. Rainier Industries fully occupies the 137,266-square-foot facility. The property is near interstates 5 and 405 and State Route 176 and offers access to Seattle-Tacoma International Airport, Port of Seattle and Port of Tacoma. The acquisition brings Dalfen’s metro Seattle footprint to approximately 850,000 square feet.
TUKWILA, WASH. — Dalfen Industrial has purchased Olympic Logistics Center, an industrial property in Tukwila, a suburb of Seattle. Terms of the off-market transaction were not released. Rainier Industries fully occupies the 137,266-square-foot facility. The property is in close proximity to interstates 5 and 405 and State Route 176 and offers access to Seattle-Tacoma International Airport, Port of Seattle and Port of Tacoma. The acquisition brings Dalfen’s Seattle footprint to approximately 850,000 square feet.
TUCSON, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale Metro Tucson, a multifamily property located in Tucson. Vertical Street Ventures acquired the community for $38.5 million, or $165,948 per unit. Constructed in 1984, Metro Tucson offers 232 apartments spread across nine garden-style residential buildings, a swimming pool, laundry facilities and pet areas. Apartment amenities include wood-style vinyl plank flooring, dishwashers and private patios or balconies. Select units, approximately 22, have been upgraded with stainless steel appliances, carpeting in living spaces and bedrooms and kitchen cabinetry with brushed nickel hardware. Hamid Panahi, Clint Wadlund, Steve Gebing and Cliff David of IPA represented the seller, a private party, and procured the buyer in the deal.
PORTLAND, ORE. — Clarion Partners has sold Marine Drive Distribution Center, a four-building industrial facility located at 6308-6310 and 6204-6210 N. Marine Drive and 7409-7433 and 7507-7517 N. Leadbetter Road in Portland’s Rivergate submarket. LBA Logistics acquired the asset for an undisclosed price. Totaling 590,770 square feet, Marine Drive Distribution Center features one single-tenant and three multi-tenant institutionally managed distribution warehouses. The buildings feature ESFR sprinklers, 24-foot to 26-foot clear heights, and 114 dock-high, 12 grade-level and 28 rail-served doors, as well as ample parking. At the time of sale, the buildings were fully triple net leased to seven tenants. Mark Detmer, Buzz Ellis and Ryan Sitov of JLL Capital Markets represented the seller. Tyler Sheils of JLL Leasing team is handling leasing of the property.
TACOMA, WASH. — 6th & Alder Partners LLC has completed the disposition of Sixth & Alder, an apartment building in Tacoma, to an undisclosed buyer for $46.2 million. Austin Kelley and Ben Norbe of Kidder Mathews represented the buyer in the off-market transaction. Located at 3118 6th Ave., Sixth & Alder features 111 apartments and 75,240 square feet of retail space. Community amenities includes an on-site dog washing station, electric vehicle charging, fitness center and rooftop putting green.
LAS VEGAS — Davlyn Investments has purchased Rancho Destino, a multifamily community in Las Vegas, for $65.5 million. The buyer rebranded the 184-unit property as Aviara. Constructed in 1998 on 9.1 acres, the community features central heating and air conditioning, in-unit laundry, vaulted ceilings, fireplaces, arid landscaping, plentiful parking and an expansive amenity package. Spence Ballif, Adam Schmitt and Jannie Mongkolsakulkit of CBRE represented the undisclosed seller in the deal. Torrey Pines Bank provided acquisition financing for the buyer. The transaction marks Davlyn’s second acquisition in Nevada.
PHOENIX — Holualoa Cos. and LaPour Partners have completed the disposition of a Class A office building in Phoenix’s Camelback Corridor. Oklahoma City-based Humphreys Capital bought the asset for $66.3 million, or $573 per square foot. The four-story, 115,000-square-foot building was 95 percent leased upon sale. The sellers acquired the site, which included seven existing two-story office buildings, in 2016. The existing structures were demolished and a LEED-certified building with a 326-space underground parking garage was developed on the site in 2018. Steve Lindley, Eric Wichterman, Alexandra Loye and Mike Coover of Cushman & Wakefield represented the seller in the transaction. The team also worked with Jerry Roberts and Pat Boyle of Cushman & Wakefield for office leasing advisory and Beth Lambert of Cushman & Wakefield for debt and equity finance.
