Western

ViaWest Group Sells 40,709 SF Warehouse in Salt Lake City

by Amy Works January 8, 2025

SALT LAKE CITY — Arizona-based ViaWest Group has completed the sale of a freestanding warehouse located at 3255 W. 500 South in Salt Lake City. A St. Louis-based private real estate investment firm acquired the asset for an undisclosed price. Built in 2016 on 2.2 acres, the property offers 40,709 square feet of single-tenant space, which is fully leased on a long-term basis to a provider and distributor of industrial and manufacturing products. Phil Haenel, Will Strong, Foster Bundy and Katie Repine of Cushman & Wakefield represented the seller in the deal. Phillip Eilers and Jon Schreck of Cushman & Wakefield provided market leasing services.

January 8, 2025

Acquisitions Colorado Industrial Western

Unique Properties Arranges $1.6M Sale of Industrial Building in Denver

by Amy Works January 8, 2025

DENVER — Unique Properties Inc./TCN Worldwide has brokered the sale of an industrial building located at 1301 S. Cherokee St. in Denver. The 11,102-square-foot property traded for $1.6 million, or $144 per square foot. The names of the seller and buyer were not released. Michael DeSantis, Brett MacDougall and Carson Lang of Unique Properties brokered the sale.

January 8, 2025

California Development Multifamily Western

Legacy Partners, DWS Break Ground on 346-Unit Multifamily Community in Ontario, California

by Amy Works January 7, 2025

ONTARIO, CALIF. — Legacy Partners and DWS Group have started construction on Legacy Ontario, a 346-unit apartment property in Ontario. Located at 2510 S. Euclid Ave., the community will consist of eight three- and four-story buildings with tucked-under garage parking and covered carports. Additionally, the property will offer 6,000 square feet of ground-floor retail space facing Euclid Avenue. Designed by AO, Legacy Ontario will feature studio, one- and two-bedroom layouts ranging from 706 square feet to 1,293 square feet. The units will offer modern kitchens with stainless steel appliances, tiled backsplashes, large kitchen islands in select units, wood-style flooring and full-size washers/dryers, as well as patios or large decks. Community amenities will include a roof deck, clubhouse, pool/spa, fitness center, sports lounge, multiple barbecue areas and a dog run. The property is also pursuing LEED certification and will provide solar panels with battery storage and 171 electric vehicle charging stations. Completion is slated for April 2027, with Next Phase serving as the general contractor.

January 7, 2025

Acquisitions Arizona Industrial Western

Partnership Sells 536,122 SF Tempe Commerce Park in Tempe, Arizona

by Amy Works January 7, 2025

TEMPE, ARIZ. — A global investment manager and BKM have completed the sale of Tempe Commerce Park, a five-building industrial complex located at 7340-7360 S. Kyrene Road and 7333-7343 S. Hardy Drive in Tempe. Terms of the transaction were not released. Situated on 36.8 acres, Tempe Commerce Park features 536,122 square feet with 24-foot clear heights, dock-high and grade-level doors and ample parking. At the time of sale, the property was 92 percent leased to eight tenants, including McKesson, Genuine Cable Group and Rivian. Mark Detmer, Greer Olive and Connor Nebeker-Hay of JLL Capital Markets represented the seller in the deal. Jackie Orcutt and Jonathan Teeter of CBRE are handling local market leasing efforts for the property.

January 7, 2025

Acquisitions Industrial Nevada Western

Avison Young Brokers $17.3M Sale of Industrial Building in North Las Vegas

by Amy Works January 7, 2025

NORTH LAS VEGAS, NEV. — Avison Young has arranged the sale of Cartier Industrial Center, an industrial asset in North Las Vegas. A California-based private investor purchased the asset from a local development group for $17.3 million, or $232 per square foot. Located at 2635 Lamb Blvd., Cartier Industrial Center offers 74,700 square feet with eight dock-loading doors, two grade-level doors, a clear height of 30 feet and 81 parking spaces. The property was built in 2024. The single-tenant building is fully occupied by a beauty supply company. Chris Lexis, James Griffis and Joe Leavitt of Avison Young represented the buyer in the deal.

January 7, 2025

Acquisitions Arizona Retail Western

Flying Horse Investments Acquires 53,630 SF Retail Center in Mesa, Arizona

by Amy Works January 7, 2025

MESA, ARIZ. — Flying Horse Investments (FHI) has acquired Fiesta Palms Shopping Center, a 56,630-square-foot retail center located in Mesa, roughly 20 miles outside Phoenix. A specialty grocer anchors the property, which was 83 percent leased at the time of sale. 1st Century Bank, a division of MidFirst Bank, provided acquisition financing, and Justin Weissman of 1st Century Bank arranged the bridge loan on behalf of the buyer. A local family was the seller. FHI plans to collaborate with Pegasus Capital Markets to secure permanent financing for the property.

January 7, 2025

Acquisitions Colorado Industrial Western

Pinnacle Arranges Sale of 24,178 SF Industrial Property in Denver

by Amy Works January 7, 2025

DENVER — Pinnacle Real Estate Advisors has brokered the sale of a 24,178-square-foot industrial building located at 501-521 Kalamath St. in Denver. The asset traded for $4.1 million. Paul Nora and Jamie Mitchell of Pinnacle Real Estate Advisors represented the undisclosed seller in the transaction. The name of the buyer was not released.

January 7, 2025

Acquisitions California Multifamily Western

Marcus & Millichap Negotiates $85M Sale of Multifamily Portfolio in San Fernando Valley

by Amy Works January 6, 2025

LOS ANGELES — Marcus & Millichap has arranged the sale of a multifamily portfolio in San Fernando Valley. Heitman LLC, Invesco LTD and ETHOS Real Estate sold the portfolio to Florida-based Material Comforts Inc. for $85 million, or $142,617 per unit. Totaling 596 units, the portfolio consists of 16 parcels in the Van Nuys, Panorama City, North Hills and Canoga Park neighborhoods of Los Angeles. The portfolio offers gross building areas ranging from 6,030 square feet to 160,858 square feet. Tony Azzi of Marcus & Millichap represented the sellers, while Rabbie Banafsheha, Kristen Sullivan and Arteen Zahiri of Marcus & Millichap represented the buyer in the deal.

January 6, 2025

Acquisitions California Multifamily Western

Raintree Partners Buys Woodside Terrace Apartment Property in Alhambra, California for $26.2M

by Amy Works January 6, 2025

ALHAMBRA, CALIF. — Raintree Partners has acquired Woodside Terrace, an apartment property in Alhambra, for $26.2 million, or $312,500 per unit. Built in 1972, Woodside Terrace features 85 apartments, a swimming pool, lounge deck, laundry facilitates and assigned parking. Apartments have original cabinetry, floor-to-ceiling pantries and private balconies or patios. Joseph Grabiec, Kevin Green and Gregory Harris of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the undisclosed seller and procured the buyer in the deal.

January 6, 2025

Acquisitions California Retail Western

Cohen & Steers, Sterling Acquire 231,700 SF Retail Center in San Mateo

by Amy Works January 6, 2025

SAN MATEO, CALIF. — Cohen & Steers Income Opportunities REIT (CNSREIT) and Sterling Organization have acquired Bridgepointe Shopping Center, a 231,700-square-foot retail center in San Mateo. Tenants at the property, which was fully leased at the time of sale, include Total Wine & More, Nordstrom Rack, Ross Dress for Less and Marshalls. This marks the third joint-venture acquisition for CNSREIT and Sterling.

January 6, 2025

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