NORTH LAS VEGAS, NEV. — Panattoni Development has completed North 15 Logistics, a 550,601-square-foot industrial project on 30 acres at the intersection of Interstate 15 and Speedway Boulevard in North Las Vegas. North 15 Logistics features two buildings with up to 36-foot clear heights, ESFR sprinkler systems, R-30 roof batt insulation and concrete truck courts. The tenant improvements are now complete, and Ruby Has occupies 373,363 square feet at the project. With six warehouse locations across the United States and Canada, Ruby Has offers third-party logistics using technology and integration to allow for faster shipping and a reduction in freight costs. A comingled fund managed by Clarion Partners owns the project, with Panattoni Development serving as developer. Alston Construction served as contractor and HPA Architecture served as architect.
TOLLESON, ARIZ. — Stos Partners has purchased a single-tenant industrial property located at 10300 W. Buckeye in Tolleson. A private seller sold the asset for $16.3 million in an off-market transaction. The acquisition marks Stos Partners’ entrance to the metro Phoenix market. Built in two phases in 2005 and 2016, the 227,000-square-foot property features 32-foot clear heights and dock-high loading doors. At the time of sale, an undisclosed tenant fully occupied the building. Bob Broyles of Colliers International and Jeff Hays of Commercial Properties represented the buyer and seller in the deal.
RANCHO CUCAMONGA, CALIF. — Avison Young has arranged the acquisition of a single-tenant industrial building, located at 8767 Rochester Ave. in Rancho Cucamonga. An Orange County-based private investor purchased the asset from a local private owner for an undisclosed price. Built in 1989 on nearly two acres, the 45,702-square-foot building features 24-foot clear heights, eight dock-high loading doors and a partial second-floor office. Alan Pekarcik and Chris Smith of Avison Young represented the buyer, while Ryan Velasquez and Milo Lipson of Cushman & Wakefield represented the seller in the transaction.
PHOENIX — Ready Capital has closed $8 million in financing for the acquisition, renovation and stabilization of a multifamily community in Phoenix. Situated in the Paradise Valley submarket, the Class C property features 80 apartments. David Cohen of Ready Capital handled the financing for the undisclosed borrower. Further details were not disclosed.
EL SEGUNDO, CALIF. — Beyond Meat Inc. (NASDAQ: BYND), a producer of plant-based meat replacement products, has signed a 12-year lease for a 300,000-square-foot corporate headquarters less than one mile south of Los Angeles International Airport at 888. N. Douglas St. in El Segundo. The headquarters will be located within a four-building, 550,000-square-foot creative office and industrial campus currently under development by Hackman Capital Partners, which is scheduled for completion this spring. Beyond Meat’s offices are set to open in fall of this year and will include advanced research labs and incubator spaces for the development of new technologies and more innovative products. The company’s headquarters is designed for LEED and Fitwel certification in alignment with Beyond Meat’s mission and commitment to sustainability and workplace wellbeing. “Our new campus and state-of-the-art research facilities will house cutting-edge fundamental and applied research alongside globalized product development teams, all in service to a single goal — creating meat from plants that is indistinguishable from its animal protein equivalent,” says Ethan Brown, founder and CEO of Beyond Meat. The JLL team of Gary Horwitz, Blake Searles, Connor Hall and Kamil Agha represented Beyond Meat in the leasing transaction. The company also tapped DPPM Project Management …
TEMPE, ARIZ. — Toll Brothers Campus Living and Harrison Street have formed a joint venture to develop Canvas, a student housing community adjacent to Arizona State University (ASU) in Tempe. The joint venture has secured a construction loan facility from MidFirst Bank, Fifth Third Bank N.A. and Trustmark Bank. Toll Brothers’ in-house finance department arranged the debt and equity financing. TSB Capital Advisors served as advisor to Toll Brothers. Situated on 3.4-acres, Canvas will feature 263 units totaling 826 beds with a modern furniture package, quartz countertops, private bedroom door locks, walk-in closets, computer-controlled access, smart television, central air conditioning, private bedrooms and bathrooms, in-unit washer/dryer, hardwood-style floors, high-speed internet and stainless steel appliances. The community will feature a six-level, 469-stall parking garage; fitness center; clubroom with an e-sports lounge; rooftop pool and amenity deck; business center; café/lounge; ground-floor retail space; courtyard and fire pit; grilling stations; electronic parcel lockers; private study rooms; and bike storage. The joint venture has partnered with Subtext, a real estate development company focused on living spaces for students and young professionals. Toll Brothers Campus Living will manage the development, construction and marketing, as well as asset management. Cardinal Group Management will act as the …
SEATTLE — CBRE has arranged the sale of Terry Thomas, a single-tenant office property located in Seattle’s South Lake Union neighborhood. A group of private local investors, including Mike Hess of Hess Callahan Partners and Mark Grey of Stephen Grey & Associates, sold the asset to a newly raised core fund advised by Zurich Alternative Asset Management for $52.2 million. CBRE’s Tom Pehl, Lou Senini, Chais Lowell, Paige Morgan, Charles Safley, Thuy Tran, Brandon McMenomy, Brad Zumpa and Mike Walker represented the seller. Thomas Buffa and Sean Bannon of US Real Estate represented the buyer in the deal. Located at 225 Terry Ave. North, the four-story, 44,445-square-foot building was constructed in 2008. Northeastern University occupies the property, which is LEED Gold certified. The building includes 67 underground parking stalls.
DUBLIN, CALIF. — Toda America has acquired Hites Plaza, a Class A office property located at 5601 Arnold Road in Dublin, from an undisclosed seller for $34.7 million. Built in 2000, the four-story Hites Plaza features 120,199 square feet of office space. At the time of sale, the property was 90 percent leased to national or credit tenants, including Easter Seals; the U.S. Bureau of Alcohol, Tobacco, Firearms and Explosives; and the California Department of Justice. The building features redundant power and HVAC capacity, 12-foot ceiling heights and large, flexible floor plates. Brian Lagomarsino and Kevin Moul of Colliers International, along with the firm’s Institutional Capital Markets team, represented the buyer and seller in the deal.
TUALATIN, ORE. — Trion Properties has purchased two adjacent apartment communities in Tualatin, a southwest suburb of Portland. Terms of the transaction were not released. Trion will operate the two properties, formerly known as Casa De Robles and Cypress Gardens, as one community – Fox Meadows, located at 19605 SW Boones Ferry Road. Built in 1968, the property features 95 townhome-style units in a variety of floor plans, ranging from 562 square feet to 1,033 square feet, with patios and decks available on some units. Recent interior upgrades include grey vinyl plank flooring, stainless steel appliances, quartz countertops, undermount sinks, new custom cabinetry, Bluetooth locks and upgraded bathroom vanities. Common amenities include a swimming pool, laundry facilities and ample parking and storage.
GUNNISON, COLO. — Marcus & Millichap has directed the sale of Days Inn & Suites, a hotel located in Gunnison. An out-of-state private investor acquired the hotel from a private investor for $2.2 million. Built in 1983, Days Inn & Suites offers 44 guest rooms. Located at 701 US-50, the hotel is approximately 0.25 miles from the Gunnison-Crested Butte Regional Airport. Allan Miller, Chris Gomes and Michael Fasano of Marcus & Millichap handled the transaction.