Western

Duke Realty Plans 261,362 SF Spec Industrial Project in Kent, Washington

by Amy Works March 23, 2022

KENT, WASH. — The Seattle office of Duke Realty has started the development of a speculative industrial property at 7409 S. 202nd St. in Kent. Duke Realty purchased the 12.2-acre site in February 2021. The 261,362-square-foot property will feature 40-foot clear heights, 26 dock doors, 34 trailer stalls and parking for more than 260 cars. The facility will have access to Highway 167, as well as interstates 405 and 5. Completion is slated for early 2023. Matt Wood of KBC Advisors and Jim Kidder and Nick Ramirez of Kidder Mathews will be listing agents for the development.

March 23, 2022

Hospitality Loans Nevada Western

CommCap Advisors Arranges $10.2M Loan for Hampton Inn & Suites in Carson City, Nevada

by Amy Works March 23, 2022

CARSON CITY, NEV. — CommCap Advisors has arranged a $10.2 million loan for Hampton Inn & Suites, located at 10 Hospitality Way in Carson City. The borrower is Gemini Hotel Group. Situated on two acres, the hotel features 49,821 square feet of rentable space. Andy Crawford of CommCap Advisors facilitated the 10-year loan, which features a 25-year amortization schedule, for the borrower. The use of the funds was not disclosed.

March 23, 2022

9012-9032-9142-W-Ken-Caryl-Ave-Littleton-CO

Acquisitions Colorado Retail Western

Pinnacle Real Estate Advisors Brokers Sale of 37,458 SF Shopping Center in Littleton, Colorado

by Amy Works March 23, 2022

LITTLETON, COLO. — Pinnacle Real Estate Advisors has arranged the sale of a retail property located at 9012, 9032 and 9142 W. Ken Caryl Ave. in Littleton. The shopping center traded for $4.5 million. The property features 37,458 square feet of multi-tenant retail space. Dallas Sandberg of Pinnacle Real Estate Advisors represented the undisclosed seller, while Thomas Graeve of Pinnacle Real Estate represented the buyer in the deal.

March 23, 2022

Acquisitions Arizona Development Industrial Western

Greystar Buys 154-Acre Industrial Development Site Near Phoenix Mesa Gateway Airport for $43.7M

by Amy Works March 22, 2022

MESA, ARIZ. — Greystar has acquired a 154-acre industrial development near Phoenix Mesa Gateway Airport from Phoenix-based Unbound Development. The acreage sold for $43.7 million. Located in Phoenix, the asset consists of six different parcels and provides Greystar with a Class A industrial development opportunity. Unbound spent the last year and a half acquiring the 154 acres located near the northeast corner of Pecos and Sossaman roads and obtaining approval from Mesa’s planning and zoning board for a development named Unbound Gateway. Unbound purchased 18 acres in September 2021 and remaining 136 acres in January 2022 for a combined total of $27.1 million. Greystar will utilize the development team that Unbound had assembled, with Derek Builders as general contractor, Deutsch Architecture Group as designer and Hunter Engineering as civil engineer. The development will feature approximately 2.2 million square feet in three buildings, including a 1.2 million-square-foot building, a 517,029-square-foot building and a 476,229-square-foot building.

March 22, 2022

Acquisitions California Net Lease Retail Western

Matthews Brokers $11.1M Acquisition of Shaw West Center Retail Property in Fresno, California

by Amy Works March 22, 2022

FRESNO, CALIF. — Matthews Real Estate Investment Services has arranged the purchase of Shaw West Center, a shopping plaza located at 2047-2097 W. Shaw Ave. in Fresno. A 1031 exchange buyer acquired the asset from an undisclosed seller for $11.1 million. Shaw West Center is occupied by national and regional tenants, with many under triple-net leases. Nabil Awada of Matthews Real Estate Investment Services represented the buyer in the deal.

March 22, 2022

Acquisitions California Office Western

Colliers Negotiates Sale of 27,440 SF Creative Office Building in Oakland

by Amy Works March 22, 2022

OAKLAND, CALIF. — Colliers has arranged the sale of a creative office property located at 1504 Franklin St. in downtown Oakland. Bullock Capital acquired the asset from SpringTide Franklin LLC for an undisclosed price. The two-story building features 27,440 square feet with 2,000 square feet of ground-floor retail space along 15th Street. The property was built in the 1920s, retrofitted in the 1960s, then restored, retrofitted and modernized in 2018. The most recent renovations included seismic upgrades, new building systems, tech-drive building security and high-end creative finishes. At the time of sale, the property was 81 percent leased. Comfy | Enlightened, a subsidiary of Siemens Real Estate, anchors the building. Will Cliff and Aileen Dolby of Colliers represented the seller in the transaction.

March 22, 2022

Acquisitions California Office Western

Sonata North Acquires 15,280 SF Office Building in Barstow, California

by Amy Works March 22, 2022

BARSTOW, CALIF. — Joseph W. Brady Inc., dba The Bradco Cos., has facilitated the sale of 2601 Barstow Road, an office building that the Bureau of Land Management formerly occupied in Barstow. Wells Fargo, representing The Constance Wallace Irrevocable Trust, sold the property to Sonata North LLC for an undisclosed price. Constructed in 1997 on 4.8 acres, the 15,280-square-foot building features several built-out offices, a breakroom, four restrooms, conference rooms, supply room, a mail room and open space for cubicles. Additionally, there are two roll-up doors for a storage warehouse on the back side of the building, a fenced yard in the rear of the property and ample covered and non-covered parking. The seller was a referral of Newmark Knight Frank.

March 22, 2022

Acquisitions Colorado Net Lease Retail Western

Blue West Capital Arranges Sale of O’Reilly Auto Parts-Occupied Building in Lakewood, Colorado

by Amy Works March 22, 2022

LAKEWOOD, COLO. — Blue West Capital has brokered the sale of a retail property located at 5807 W. Colfax Ave. in Lakewood. A California-based family office sold the asset to a California-based investor for $2.8 million. O’Reilly Auto Parts has occupied the property on a net-lease basis since 1998, with approximately four years remaining on its lease. Brandon Gayeski of Blue West Capital represented the seller and buyer in the deal.

March 22, 2022

Acquisitions Arizona Multifamily Western

Berkadia Institutional Solutions Brokers $325M Sale of Vaseo Apartments in Phoenix

by Amy Works March 21, 2022

PHOENIX — Berkadia Institutional Solutions has arranged the sale of Vaseo Apartments, a 1,222-unit multifamily community in Phoenix. A partnership led by DivcoWest and Klein Financial Corp. sold the asset to Dallas-based Invesco Real Estate for $325 million. Vaseo features an onsite café and market, four swimming pool and spa areas, a 42-seat movie theater, fitness center, full-length basketball court, tennis court, sand volleyball court, playground and a large clubhouse with a demonstration kitchen. Mary Ann King, Brett Betzler, Kaohu Berg-Hee, Mark Forrester of Berkadia, along with CBRE, represented the seller in the deal.

March 21, 2022

Acquisitions California Industrial Western

Majestic Asset Management Buys Six-Building Industrial Campus in Goleta, California for $50.7M

by Amy Works March 21, 2022

GOLETA, CALIF. — Agoura Hills-based Majestic Asset Management has purchased a six-building industrial/R&D campus located at 315-346 Bollay Drive and 320-340 Stork Road in Goleta, for $50.7 million in an off-market transaction. The asset was part of a portfolio of commercial properties managed by The Towbes Group. Situated on 11.9 acres, the 194,625-square-foot portfolio is occupied by multiple tenants, including Lockheed Martin, Alcon Research, Electro Optical Industries, The Good Work Space, DeLabs and Santa Barbara Imaging Systems. Francois DeJohn and Steve Hayes of Hayes Commercial Group represented the buyer in the transaction.

March 21, 2022

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