Friday, June 27, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Western

1701-Pike-St-Auburn-WA
AcquisitionsIndustrialWashingtonWestern

CenterPoint Adds 126,000 SF Last-Mile Industrial Facility to Its Seattle-Area Portfolio

by Amy Works

AUBURN, WASH. — CenterPoint has acquired an industrial property located at 1701 Pike Street in Auburn. Terms of the transaction were not released. Located approximately 15 miles from Seattle-Tacoma International Airport and the Port of Tacoma, the 126,000-square-foot property features 26-foot clear heights, 20 dock-high loading positions and three points of access. CenterPoint plans to make the property available for lease after a full repositioning, including an office refresh. The building is currently occupied under a short-term lease that expires in December 2021. Tony Miltenberger and Matt Wood of KBC Advisors and Matt Murray of Kidder Mathews brokered the transaction and will market the property as available for lease.

Continue Reading
FacebookTwitterLinkedinEmail
HighPoint-Logistics-Park-Aurora-CO
ColoradoDevelopmentIndustrialRetailWestern

Hyde, Mortenson Expand HighPoint Business Park by 274 Acres, Break Ground on Spec Building in Aurora

by Amy Works

AURORA, COLO. — Hyde Development and Mortenson Properties have acquired 145 acres north of the existing 125-acre site of HighPoint Industrial and Logistics Business Park in Aurora, with plans to expand the project onto the new land. Details of the acquisitions were not released. The companies announced the development of HighPoint Logistics Park, a 2.2 million-square-foot industrial park near Denver International Airport, in February. Additionally, next month, the development team will add 129 acres to the project and break ground on the park’s first structure — Build 1, a 541,840-square-foot, Class A speculative building. Slated for completion in third-quarter 2021, Building 1 will features 36-foot clear heights, 50-foot by 54-foot column spacing, an ESFR sprinkler system, 92 dock-high and four drive-in doors, 68 trailer parking spaces and 273 parking spaces. With the recent and upcoming additions, HighPoint Park will eventually span 400 acres and offer up to 15 buildings totaling more than 5 million square feet at full build-out. While the full-site plan for HighPoint is still flexible, the initial plans include retail development through the middle of the park, along East 64th Avenue, providing walkable retail options for tenants and visitors. The development will also feature outdoor seating areas …

Continue Reading
FacebookTwitterLinkedinEmail
900-E-128th-Ave-Thornton-CO
AcquisitionsColoradoIndustrialWestern

Inland Real Estate Buys 151,668 SF Last-Mile Logistics Building in Metro Denver for $57M

by Amy Works

THORNTON, COLO. — Oak Brook, Ill.-based Inland Real Estate Group has acquired a newly constructed last-mile logistics building in Thornton. The Opus Group sold the asset, which its Denver office developed in 2019, for $57 million. Located at 900 E. 128th Ave., the 151,688-square-foot facility features 30-foot clear heights, 24 dock-high doors, six drive-in ramped doors, surface parking and a three-level parking structure. At the time of sale, the property was fully leased to a single tenant as an e-commerce distribution facility. Will Strong and Greer Oliver of Cushman & Wakefield’s National Industrial Advisory Group represented the seller in the deal. Joe Krahn and Harper Davis, also of Cushman & Wakefield, provided leasing services for the property.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsArizonaLoansMultifamilyWestern

Berkadia Negotiates $49.2M Sale of Raven Multifamily Property in Phoenix

by Amy Works

PHOENIX — Berkadia has arranged the sale of Raven, a garden-style multifamily property located in Phoenix. A private Arizona investor sold the asset for $49.2 million. Located at 3606 E. Baseline Road, Raven features 192 apartments in a mix of one-, two- and three-bedroom layouts offering full-size washers/dryers, nine-foot ceilings, spacious closets and private patios or balconies. Completed in 2001, the property also includes a swimming pool and 24-hour fitness center. Mark Forrester, Ric Holway and Dan Cheyne of Berkadia’s Phoenix office represented the seller, and the Berkadia team secured acquisition financing through Freddie Mac for the undisclosed buyer.

Continue Reading
FacebookTwitterLinkedinEmail
Summerly-Zanjero-Apts-Glendale-AZ
ArizonaLoansMultifamilyWestern

NorthMarq Arranges $65.1M Refinancing for Summerly at Zanjero Apartments in Glendale, Arizona

by Amy Works

GLENDALE, ARIZ. — NorthMarq has arranged $65.1 million for the cash-out refinancing of Summerly at Zanjero Apartments in Glendale. Brandon Harrington and Tyler Woodard of NorthMarq’s Phoenix Debt and Equity team executed the permanent, floating-rate loan through Freddie Mac for the undisclosed borrower. The loan features a 10-year term with five years of interest-only payments followed by a 30-year amortization schedule. Built in 2019, Summerly at Zanjero features 340 apartments in a mix of one-, two- and three-bedroom layouts. The property located is within minutes of Westgate Entertainment District and State Farm Stadium.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIndustrialWashingtonWestern

CenterPoint Properties Acquires 57,107 SF Distribution Facility Near Seattle

by Amy Works

TUKWILA, WASH. — CenterPoint Properties has purchased an industrial facility located at 365-369 Upland Drive in Tukwila. Terms of the off-market sale-leaseback transaction were not released. Situated on 2.4 acres, the 57,107-square-foot distribution facility features secure parking, a 100-foot truck court, an 11,509-square-foot office space, 24-foot clear heights, six dock-high doors and two drive-in doors. Chris Corr of Kidder Mathews brokered the transaction. The seller was not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
Riata-Chandler-AZ
AcquisitionsCaliforniaMultifamilyWestern

IPA Negotiates $91M Acquisition of Riata Multifamily Complex in Chandler, Arizona

by Amy Works

CHANDLER, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Riata, a newly constructed apartment property located in Chandler. A private family trust acquired the asset for $91 million, or $303,333 per unit, as part of a 1031 exchange. San Antonio, Texas-based Embrey Partners developed and sold the property. Marty Cohan of Marcus & Millichap, in collaboration with Cliff David and Steve Gebing of IPA, represented the buyer, while CBRE represented the seller in the deal. Ryan Sarbinoff of Marcus & Millichap is the firm’s broker of record in Arizona. Completed in 2020 on nine acres, Riata features 300 units. The property is within walking distance of the Chandler Fashion Center and close to the Loop 101 and Loop 202 freeways. The complex features 13 four-story, elevator-serviced buildings; air-conditioned corridors; a club-style gym; and pool and spa area. Units offer nine-foot ceilings, granite countertops and full-size, in-unit washers/dryers. Select units feature kitchen islands with pendent lighting and under-counter wine refrigerators.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsCaliforniaIndustrialWestern

GJK Properties Divests of Fully Occupied Industrial Facility in Bay Area for $23M

by Amy Works

UNION CITY, CALIF. — GJK Properties has completed the sale of an industrial building located at 33401 Central Ave. in Union City. Elion Partners acquired the asset for $23 million. Constructed in 1979 and renovated in 2009, the 94,976-square-foot property features tilt-up construction, 26-foot clear heights, 12 dock-high doors, one grade-level door, skylights and a low office finish. At the time of sale, the property was fully leased. Jason Ovadia and Eddie Shuai of JLL Agency Leasing structured a lease for a new entity to fully occupy the property. Ryan Sitov, Mark Detmer and Andie Fezell of JLL Capital Markets represented the seller in the deal.

Continue Reading
FacebookTwitterLinkedinEmail
Encore-Redwood-City-CA
AcquisitionsCaliforniaMultifamilyWestern

Sares Regis Sells 90-Unit Encore Apartment Community in Redwood City, California

by Amy Works

REDWOOD CITY, CALIF. — Sares Regis Group of Northern California has completed the disposition of Encore, a multifamily property located at 855 Veterans Blvd. in Redwood City. Terms of the transaction were not released. The six-story Encore features 90 apartments in a mix of one-, two- and three-bedroom layouts and nearly 5,000 square feet of amenity space. Residences offer stainless steel appliances, in-home washers/dryers, solid-surface countertops, high-efficiency central heat and air conditioning, hardwood-style plank flooring, walk-in closets, Nest thermostats, keyless entry hardware and storage space. Amenities include a fitness center; top-level roof deck and community room; outdoor courtyard with barbecue, fireplace and dog run; Wi-Fi-enabled common areas; multi-level parking with electric vehicle charging stations; and bike storage. Stan Jones, Phil Saglimbeni, Sal Saglimbeni and Alex Tartaglia of Institutional Property Advisors, a division of Marcus & Millichap, handled the transaction. The seller and its affiliate companies built, leased and managed the community prior to sale.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMultifamilyOregonSeniors HousingWestern

Merrill Arranges Sale of Independent Living Community in Oregon for $4.1M

by Amy Works

NORTH BEND, ORE. — Merrill Commercial Real Estate has arranged the sale of a 69-unit independent living community in North Bend. The 44,000-square-foot community was part of a senior living portfolio that went into receivership in late 2019. The property is one of four properties in the portfolio that make up a continuum-of-care model in the local area. The name of the property and campus were not disclosed. Mike Merrill represented the court-appointed receiver. A California-based investment group focused on the multifamily sector paid $4.1 million for the property, representing a capitalization rate of 8.4 percent. The community was 80 percent occupied at the time of sale.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts