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Lovelace-Clinic-Albuquerque-NM
AcquisitionsHealthcareNew MexicoOfficeWestern

Montecito Medical Real Estate Purchases Lovelace Clinic Building in Albuquerque

by Amy Works

ALBUQUERQUE — Nashville, Tenn.-based Montecito Medical Real Estate has acquired Lovelace Clinic Medical Office Building, a medical office and urgent care center in Albuquerque. Terms of the transaction were not released. Southwest Medical Associates, a subsidiary of Lovelace Health System, occupies the two-story, 69,539-square-foot facility. The primary care medical office portion of the building, which represents 43,200 square feet, opened in October 2017. In October 2020, a 26,339-square-foot expansion, including an urgent care center and specialty center, was added to the facility. The medical office facility offers 100 exam rooms with space to accommodate up to 40 providers. The urgent care portion provides walk-in treatment seven days a week. Scott Throckmorton of ARGUS Investment Realty, Peter Bauman and Tivon Moffitt of Institutional Property Advisors, and Andrew Milne of JLL brokered the transaction.

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104th_Commerce_Park
ColoradoDevelopmentIndustrialWestern

Trammell Crow, Clarion Partners Acquire Development Site for 1.2 MSF Industrial Park in Metro Denver

by Amy Works

DENVER — Trammell Crow Co., along with its capital partner Clarion Partners, has purchased an 89.6-acre vacant land site for the development of 104th Commerce Park, an industrial park located at 104th Avenue, just east of the intersection of State Highway 85 and Interstate 76 in metro Denver. Terms of the acquisition were not released. Totaling 1.2 million square feet, 104th Commerce Park will feature five industrial and distribution buildings built in two phases, with spaces ranges from 20,000 square feet to 290,000 square feet, as well as build-to-suit lease options. Tyler Carner, Jeremy Ballenger, Jessica Osternick and Daniel Close of CBRE will handle marketing for the development. Murray & Stafford is serving as general contractor, Ware Malcomb is providing architectural services and Langan Engineering is serving as civil engineer.

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NorthBay-Logistics-Center-Vacaville-CA
AcquisitionsCaliforniaIndustrialWestern

LDK Ventures, PCCP Divest of 843,248 SF NorthBay Logistics Center in Vacaville, California

by Amy Works

VACAVILLE, CALIF. — LDK Ventures and PCCP have completed the disposition of NorthBay Logistics Center in Vacaville. DRA Advisors acquired the asset for an undisclosed price. Situated on 68.8 acres at 700 Crocker Drive, the newly renovated distribution building features 843,248 square feet of cross-dock distribution space, including large concrete truck yards, 32- to 37-foot clear heights, enhanced office areas and gated, secure access. Serena & Lilly occupies 433,950 square feet of the property, while Wineshipping occupies the remaining 404,950 square feet. A large e-commerce company leases a portion of the excess land for trailer storage. Andrew Briner, Bret Hardy, Jim Linn, Kevin Shannon, Steven Golubchik of Newmark represented the sellers. Ramsey Daya, also of Newmark, procured financing for the buyer.

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Atria-Park-Woodbridge-Irvine-CA
AcquisitionsCaliforniaMultifamilySeniors HousingWestern

Kisco Buys 139-Unit Seniors Housing Community in Irvine, California

by Amy Works

IRVINE, CALIF. — Kisco Senior Living has acquired Atria Park of Woodbridge, a 139-unit seniors housing community in Irvine, approximately 40 miles southeast of downtown Los Angeles. Healthpeak sold the 103,000-square-foot property for an undisclosed price. The seller recently completed a $9 million renovation at the community that converted some assisted living units into a memory care neighborhood. In addition to taking over management duties from Atria Senior Living, Kisco plans to rename the community Woodbridge Terrace of Irvine as part of the results of a resident poll. The executive director will remain in place at the community, and Kisco Senior Living plans to hire two new sales directors to help increase occupancy. “We have a large presence throughout California, and we saw this as an opportunity to expand our footprint in Southern California,” says Andy Kohlberg, CEO of Kisco Senior Living. “We are committed to retaining staff at the community and working with Healthpeak and Atria Senior Living to make this transition as seamless as possible.” Kisco Senior Living owns and operates 20 additional communities in California, North Carolina, Florida, Virginia and Utah.

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Brentwood_Center
AcquisitionsColoradoRetailWestern

Pinnacle Estate Advisors Arranges $14.9M Sale of Brentwood Center Retail Property in Denver

by Amy Works

DENVER — Pinnacle Estate Advisors has arranged the sale of Brentwood Center, a shopping center located at 1951, 2095 and 2099 S. Federal Blvd. and 2000 S. Hazel Court in Denver. A local partnership sold the asset to a Denver-based private investor for $14.9 million. Situated on 13.3 acres, Brentwood Center consists of eight buildings offering a total of 133,494 square feet of retail space. At the time of sale, the property was 84 percent leased to 30 tenants, including Save A Lot, Family Dollar, Brurger King and Aaron’s. Justin Kreiger of Pinnacle represented the seller and procured the buyer in the deal.

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250-N-Harbor-Blvd-La-Habra-CA
AcquisitionsCaliforniaNet LeaseRetailWestern

SBH Real Estate Sells Harbor Freight Tools-Occupied Building in Orange County for $6.5M

by Amy Works

LA HABRA, CALIF. — SBH Real Estate Group has completed the disposition of a single-tenant retail property located on 1.9 acres at 250 N. Harbor Blvd. in La Habra. Engineering Model Associates acquired the building for $6.5 million. Harbor Freight Tools, a discount tool and equipment retailer, occupies the 22,297-square-foot property on a long-term, triple-net lease. Daniel Tyner and Adam Friedlander of JLL Retail Capital Markets represented the seller in the deal.

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East-27th-St-Vernon-CA
AcquisitionsCaliforniaIndustrialWestern

Gautier Land Co. Sells Six-Building Industrial Portfolio in Metro Los Angeles for $93.8M

by Amy Works

VERNON, CALIF. — Gautier Land Co. has completed the disposition an industrial portfolio located in the Los Angeles County submarket of Vernon. The six buildings offer a total of 464,415 square feet of industrial space. Rexford Industrial Realty acquired the asset for $93.8 million. The buildings are fully leased to a variety of tenants and feature 20-foot to 30-foot clear heights and extensive dock-high loading. Situated on 20.9 acres, the portfolio includes: a 35,000-square-foot building at 1921-1931 E. 27th St.; a 40,437-square-foot facility at 2011-2025 E. 27th St.; a 98,389-square-foot building at 2031-2099 E. 27th St.; a 126,583-square-foot property at 2034-2040 E. 27th St.; a 63,318-square-foot facility at 2750 S. Alameda St.; and a building at 2800-2840 S. Alameda St. Michael Nubel, Jerry Sackler and David Freitag of Daum Commercial Real Estate Services represented the seller and procured the buyer in the transaction.

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Rise-on-Madison-Seattle-WA
Affordable HousingDevelopmentLoansMultifamilyWashingtonWestern

Enterprise Housing Invests $57.5M in Seattle’s First Affordable Housing High-Rise

by Amy Works

SEATTLE — Enterprise Housing Credit Investments has invested $57.5 million to create Seattle’s first affordable housing high-rise development located in the First Hill neighborhood. The 17-story building will feature 365 apartments and offer two entrances for tenants at 1400 Madison St. and 1014 Boylston Ave. The investment is the largest single Low-Income Housing Tax Credit equity deal in the company’s history. Plymouth Housing is developing the Bolyston supportive housing development, located on floors two through five, which will include more than 100 studio apartments. The development will serve homeless seniors who earn up to 30 percent of the area median income (AMI) and will offer supportive services to all residents. Service staff will provide individualized case management, daily living support, social engagement, outings and coordination of psychiatric care as needed. Developed by Bellwether Housing, Rise on Madison will occupy floors six through 17 and offer 250 apartments for workforce and family households earning up to 60 percent AMI. The development will feature 91 studios, 111 one-bedroom units, 22 two-bedroom layouts and 26 three-bedroom floorplans. Rents will range from $1,015 per month for a studio to $1,783 per month for a three-bedroom apartment. Bellwether will provide resident service coordinators to assist …

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17602-N-Cave-Creek-Rd-Phoenix-AZ
AcquisitionsArizonaMultifamilyWestern

NorthMarq Arranges $25.5M Sale of Meadows Apartments in Phoenix

by Amy Works

PHOENIX — NorthMarq has brokered the sale of Meadows Apartments, a multifamily property located at 17602 N. Cave Creek Road in Phoenix. GFT Investments I LLC, an entity formed by trustee Roger Grove, sold the asset to Phoenix-based 3rd Ave Investments LLC, led by Zev Hendeles, for $25.5 million. Built in 1985, Meadows Apartments features 165 units in a mix of studio, one- and two-bedroom layouts. Trevor Koskovich, Jesse Hudson and Bill Hahn of NorthMarq’s Phoenix Investment Sales team represented the seller and buyer in the deal. Brandon Harrington, Bryan Mummaw and Tyler Woodard of NorthMarq’s Phoenix Debt and Equity team arranged a $18.9 million Freddie Mac acquisition loan for the buyer.

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464-E-Chilton-Dr-Chandler-AZ
AcquisitionsArizonaIndustrialNet LeaseWestern

Cohen Asset Management Divests of Industrial Building Near Phoenix for $14.2M

by Amy Works

CHANDLER, ARIZ. — Cohen Asset Management has completed the disposition of a single-tenant light industrial property located in Chandler. An affiliate of Boston-based STAG Industrial acquired the building for $14.2 million. Situated on 8.5 acres at 464 E. Chilton Drive, the 104,352-square-foot building features 28-foot clear heights, ESFR sprinklers, five dock-high doors, four grade-level doors, low office finish and ample parking. Phoenix Packaging Operations, a subsidiary of Grupo Phoenix, occupies the property on a triple net-lease basis. The tenant has made significant improvements to the building, which was originally constructed in 2000, in both 2011 and 2017, including the installation of two additional cranes. Mark Detmer, Ryan Sitov, Steve Larsen and Bill Honsake of JLL Capital Markets represented the seller in the deal.

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