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Stella-Apts-San-Diego-CA

SAN DIEGO — JLL Capital Markets has arranged $46.5 million in construction financing for Stella Apartments, a multifamily development in San Diego. Aldon Cole, Bryan Clark and Bharat Madan of JLL Capital Markets’ Debt Advisory secured a three-year floating-rate loan through Buchanan Mortgage Holdings, an affiliate of Buchanan Street Partners, for the borrower, Murfey Cos. Located at 3104 El Cajon Blvd. in San Diego’s North Park neighborhood, the nine-story, 73,243-square-foot residential property will offer 149 studios, one- and two-bedroom units. Onsite amenities will include a rooftop terrace, community gym, large outdoor amenity space and lobby. Murfey Co., a vertically integrated developer, plans to begin construction this quarter with completion expected in second-quarter 2027.

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Gold-Dust-Ave-Apts-Scottsdale-AZ

SCOTTSDALE, ARIZ. — Wespac Residential, a division of Wespac Construction, is developing an apartment community at the southwest corner of Scottsdale Road and Gold Dust Avenue in Scottsdale. Situated on 4.7 acres, the property will feature 215 one- and two-bedroom units, 10,000 square feet of indoor amenities and 20,746 square feet of outdoor amenity space, including underground parking, a landscaped community space, and pool and spa area, as well as yoga space and a fitness center. Construction is slated to start in early 2027.

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4620-Eaker-St-North-Las-Vegas-NV

NORTH LAS VEGAS, NEV. — Cryogenic Industries has acquired an industrial building located at 4620 Eaker St. in North Las Vegas from APG Eaker LLC for $10.3 million. CBRE’s Tyler Ecklund represented the seller in the transaction. Built in 2016 on 2.9 acres, the building features 50,504 square feet of industrial warehouse space, two dock-high doors, one grade-level door, a clear height of 24 feet and 7,658 square feet of two-story office space.

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300-S-Highland-Springs-Ave-Banning-CA

BANNING, CALIF. — Marinita-Sage Rancho LLC has completed the disposition of Sun Lakes Village, a retail property in Banning, to a private investor for $8.7 million. Located at 300 S. Highland Springs Ave., Sun Lakes Village offers 97,380 square feet of retail space. Current tenants at the property include Hobby Lobby, Marshalls and Big Five. Paul Bitonti of Marcus & Millichap represented the seller and procured the buyer in the deal.

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Bella-Terra-Huntington-Beach-CA

HUNTINGTON BEACH, CALIF. — DJM Capital Partners has sold its ownership stake of Bella Terra, a 1 million-square-foot mixed-use development in Huntington Beach. DJM has managed and co-owned the property since 2005. The property is now fully owned by PGIM Real Estate, DJM’s long-term partner in Bella Terra. Terms of the deal were not disclosed.

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Pique-Student-Apts-Berkeley-CA

BERKELEY, CALIF. — Gilbane Development Co. has broken ground on Pique, a 485-bed student housing project located at 2587 Telegraph Ave. near the University of California (UC) Berkeley campus. The eight-story community will offer 52 units with bed-to-bath parity. Shared amenities will include an indoor and outdoor fitness center and yoga studio, outdoor study space, a cabana area, two rooftop decks, a coworking lounge, smart food lockers, private study pods and 2,900 square feet of ground-floor retail space. The project will begin leasing in fall 2025 with occupancy scheduled for summer 2026. The development site was formerly occupied by retailer Buffalo Exchange. “We are focused on making every inch count with efficiency, privacy and functionality at the core of the design, driving innovation that caters to the needs of Berkeley students at an affordable price point,” says Christian Cerria, development director with Gilbane.

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CapRock-West-202-Logitsics-Ph2-Phoenix-AZ

PHOENIX — CapRock Partners has broken ground on CapRock West 202 Logistics Phase II, the 820,000-square-foot final phase of a speculative industrial development on 43 acres in southwest Phoenix. Sitework began in January on Phase II with project completion slated for November. Upon completion, CapRock West 202 Logistics Phase II will feature a 301,771-square-foot Building F, 295,586-square-foot Building G and 227,107-square-foot Building H. The properties will offer clear heights ranging from 32 feet to 36 feet. Buildings F and G will feature 47 dock-high doors, and Building H will include 45 dock-high doors. All Phase II buildings will feature four drive-in ramp doors and speculative office suites, R-38 warehouse roofs, R-11 warehouse wall insulation, full-building HVAC, LED lighting in the warehouse, dock-high load levelers and ample parking. Payson MacWilliam and Don MacWilliam of Colliers are handling leasing efforts for CapRock West 202 Logistics. At total project completion, CapRock West 202 Logistics will consist of 3.4 million square feet of Class A industrial warehouse space on 183 acres. CapRock completed Phase I, which includes approximately 2.5 million square feet of Class A industrial warehouse space across five buildings on 140 acres, in July 2023.

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Parts-Town-Fulfillment-Center-Glendale-AZ

GLENDALE, ARIZ. — Phoenix-based Stevens-Leinweber Construction has completed the Global Fulfillment Center, within C|303 industrial park in Glendale, for Illinois-based Parts Town Unlimited. The new facility is Parts Town’s first location in the Southwest and its largest and most technologically advanced U.S. fulfillment center to date. Parts Town works in the high-tech distribution of original equipment manufacturer (OEM) foodservice equipment parts, residential appliance parts, HVAC parts, consumer electronic parts and related products. Global Fulfillment Center spans 420,536 square feet, occupying all of Building B at C|303 Phase I, a 1.7 million-square-foot industrial development by Merit Partners. The Parts Town facility features a 30,000-square-foot robotic Autostore system, a 42,000-square-foot mezzanine system, expanded battery charging capabilities for 24 forklifts, an automated material handling conveyor system running throughout the warehouse and two trucker’s lounges with dedicated restrooms. C|303 Phase I was designed and constructed by SLC and Butler Design Group as a speculative three-building development. Each building features a clear height of 40 feet, 20 dock-high and drive-in ramp doors, up to 70-foot speed bats, 8-inch reinforced floors and secured and expansive parking for autos and trailers. Additionally, all buildings offer LED lighting, insulated systems to maximize heating and cooling efficiencies and are Foreign …

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1551-Professional-Lane-Longmont-CO.jpg

LONGMONT, COLO. — Broomfield, Colo.-based Profere Partners has completed the disposition of Longmont Medical Campus, a medical outpatient building located at 1551 Professional Lane in Longmont. Terms of the transaction were not released. Originally built in 2002 and most recently renovated in 2022, the two-story multi-tenant facility offers 104,438 square feet of medical office space. At the time of sale, the property was 92 percent leased to 19 tenants, anchored by University of Colorado Medicine. Aaron Johnson, Travis Ives, Jon Hendrickson, Mitch Veremeychik, Gino Lollio and Tyler Morss of Cushman & Wakefield represented the seller in the deal.

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Corona-Commerce-Center-Tucson-AZ

TUCSON, ARIZ. — Schnitzer Properties has broken ground on two industrial developments in Tucson. The $73 million total investment in two Class A industrial spaces will provide workspaces for small and mid-size manufacturers and distributors. The two projects are Corona Commerce Center, totaling 146,963 square feet at 2717 E. Corona Road, and Drexel Commerce Center, offering 184,080 square feet spread across two buildings. Both properties will offer flexible leasing options, with spaces ranging from 6,700 square feet to 184,080 square feet. The development team includes Schnitzer Properties, Sun Corridor and Willmeng Construction.

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