LATHROP, CALIF. — Overton Moore Properties, in a joint venture with Invesco Real Estate, has acquired a single-tenant industrial facility located at 18231 Murphy Parkway in Lathrop. Terms of the transaction were not released. Situated on 11 acres, the 118,056-square-foot property is fully leased to Simwon America Corp., a Tier 1 supplier of Tesla. The buyer plans to expand the current building by approximately 80,000 square feet for Simwon’s growing manufacturing demands. Mike Goldstein and Ryan McShane of Colliers International, Stockton/Central Valley office, represented the buyer and undisclosed seller in the deal.
COSTA MESA, CALIF. — Lee & Associates has arranged the sale of an office building located at 3545 Howard Way in Costa Mesa. Sovereign Lending Group acquired the property from Davies-Torrance Trust for $5.1 million. Built in 1986, the two-story building features 23,125 square feet of office space. The buyer intends to occupy the building. Allen Basso of Lee & Associates Irvine represented the buyer, while Eric Tse of Kidder Mathews represented the seller in the deal.
SCOTTSDALE, ARIZ. — CIM Group has funded a $95.6 million bridge loan for Stockdale Capital Partners for the firm’s Galleria Corporate Center in Scottsdale. Located at 4301-4343 N. Scottsdale Road, the asset features a 546,000-square-foot creative office building connected by a skybridge to a 10-story parking garage. The specific use of the funds was not disclosed.
CARLSBAD, CALIF. — Badiee Development has completed construction of Carlsbad Innovate, an adaptive flex industrial building located at 2810 Caribou Court in Carlsbad. Situated within Carlsbad Oaks North Business Park, Carlsbad Innovate feature 50,150 square feet of Class A space with energy-efficient lighting and appliances, polished concrete floors, high-image creative office finishes and large-scale open spaces. The building is 70 percent leased, with 15,558 square feet still available. Tenants include Zense, an innovator in diabetic predictive health solutions; an international conglomerate; and The Berg Group, a commercial drywall contractor. The project team included TFW as general contractor and Smith Consulting Architects as architect. Additionally, Ware Malcomb served as interior designer of all the speculative suites in the project.
AURORA, COLO. — Gardner Capital, in partnership with the City of Aurora, has completed the development of Alameda View Apartments, a 116-unit affordable multifamily property located at 15501 E. Alameda Parkway in Aurora. With close proximity to public transportation and walking trails, Alameda View features 20 one-bedroom units, 60 two-bedroom units and 46 three-bedroom units. Ross Management is serving as property manager for the development. Funding for the project was provided by Colorado Housing and Finance Authority, Citibank and Stratford Capital Group. The project team included Arco Construction and Denver Urban Gardens.
SANTA FE, N.M. — Dah Commercial has purchased Wagon Self Storage, located at 2 Emblem Road in Santa Fe, for an undisclosed price. The buyer has rebranded the self-storage facility as Mini U Storage. Originally built in 2009 and expanded in 2016, the property features 63,726 rentable square feet. The facility offers 611 climate-controlled units, recreational vehicle spaces and 42 wine storage units. The buyer is a national real estate investment and asset management company that has developed, acquired and/or managed more than $300 million of self-storage facilities. Adam Schlosser of Marcus & Millichap’s Denver office and Charles LeClaire of Marcus & Millichap’s LeClaire Group represented the seller, a local limited liability company, in the deal.
TEMECULA, CALIF. — PSRS has secured a $6.1 million loan for the refinancing of a warehouse facility located along Remington Avenue in Temecula. The newly built, concrete tilt-up property features Class A industrial space. David Hamilton of PSRS’ San Diego office arranged the 10-year, fixed-rate, non-recourse loan for the undisclosed borrower. The lender was a life insurance company.
SALEM, ORE. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 190-unit seniors housing campus in Salem. The community features 94 independent living apartments, 22 cottages and 72 assisted living units. At the time it was put on the market, the property generated a 30 percent profit margin and was still 94 percent occupied despite the pandemic, according to Blueprint. The seller was an ownership group finalizing its exit from seniors housing. The buyer was a local owner-operator with two other communities within a mile of the property. The price was not disclosed.
LOS ANGELES — Western Studio Services has completed the disposition of its creative office and industrial campus at 4561 Colorado Blvd. in Los Angeles. A joint venture between Captiva Partners, Avalon Investment Co. and a private investor acquired the asset for an undisclosed price. The front 146,000-square-foot building has a mid-century modern design with two-story offices, ample warehouse space and a third-level upper deck and community room. The rear 43,000-square-foot facility features an open, clear-span footprint with high ceiling clearance. The seller formerly occupied the property. Matt Dierckman, David Harding, Greg Geraci and Billy Walk of CBRE represented the buyer and seller in the deal.
SAN DIEGO — Cushman & Wakefield has arranged the sale of Morena Storage, a self-storage facility located in central San Diego’s Morena District. Sherman Street Ventures, the original developer of the property, sold the asset to Invesco Real Estate, in partnership with Baranof Holdings, for an undisclosed price. The buyers plan to maintain the property’s name, Morena Storage. Located adjacent to interstates 5 and 8, the 108,700-square-foot Morena Storage features 1,640 self-storage units. At the time of sale, the property was 90 percent occupied. Greg Wells of Cushman & Wakefield’s Self Storage Advisory Group, along with Bryce Aberg, Zachary Harman and Brant Aberg of the firm’s Industrial/Capital Markets Group, represented the seller in the deal.