Western

CapRidge Partners Sells DTC Collection Office Portfolio in Southeast Denver for $28.7M

by Amy Works November 6, 2020

DENVER — CapRidge Partners has completed the disposition of The DTC Collection, a Class A office portfolio located in southeast Denver. TerraCap Management purchased the property for $28.7 million. Totaling 181,763 square feet, the two-building portfolio includes Terrace at Orchard Station, a three-story, 115,050-square-foot building at 5575 DTC Parkway, and a six-story, 66,713-square-foot building located at 4949 S. Syracuse St. Built in 1982 and renovated in 2008 and 2015, Terrace at Orchard Station features a conference center, locker rooms and showers, a structured parking deck and web-based service request system. The property on South Syracuse Street, which was also built in 1982, features a two-story atrium and an attached parking structure. Tim Richey, Charley Will, Jenny Knowlton and Chad Flynn of CBRE Capital Markets, Institutional Properties, represented the seller in the transaction. C.J. Kelly, Brady O’Donnell and Jeff Halsey of CBRE Capital Markets’ Debt & Structured Finance arranged acquisition financing for the buyer.

November 6, 2020

Acquisitions Industrial Office Washington Western

Harsch Investment Buys Four-Building Business Park in Washington for $14.7M

by Amy Works November 6, 2020

AUBURN, WASH. — Harsch Investment Properties has purchased 30th & B Street Business Park in Auburn for $14.7 million. A partnership between Accord Business Park, D&E Enterprises, Green Valley Ridge Partners and LLC & TDW Auburn previously owned the property. Jim Honan of Neil Walter Co. presented the off-market deal to Harsch. The four-building property features 101,460 square feet of rentable space. At the time of acquisition, the property was fully leased to 19 manufacturing tenants in spaces between 1,500 square feet to 18,000 square feet.

November 6, 2020

Acquisitions Colorado Industrial Western

DAKA Properties Divests of Flex/Industrial Facility in Fort Collins for $4.7M

by Amy Works November 6, 2020

FORT COLLINS, COLO. — Fort Collins-based DAKA Properties has completed the sale of a flex/industrial property located at 825 SW Frontage Road in Fort Collins. Front825 acquired the asset for $4.7 million. Situated on 2.7 acres, the 30,012-square-foot property features large product showrooms, warehouse space and light manufacturing space. The property has been remodeled multiple times since originally developed, including 1989, 2004 and 2012. Jared Goodman of Cushman & Wakefield represented the seller, while Jason Ells of Cushman & Wakefield represented the buyer in the deal.

November 6, 2020

Acquisitions Multifamily Nevada Western

DCG Brokers $1.9M Sale of Multifamily Property in Midtown Reno

by Amy Works November 6, 2020

RENO, NEV. — Dickson Commercial Group (DCG) has negotiated the sale a multifamily property located at 941 S. Virginia St. in Reno’s midtown district. Leah Bader sold the property to JRK Investments LCC for $1.9 million. The 8,080-square-foot asset, Best Bet Motor Lodge, is a multifamily-converted motel asset on 0.33 acres. The number of units were not disclosed. Trevor Richardson and Chris Moton of DCG Multifamily represented the buyer and seller in the deal.

November 6, 2020

California Development Industrial Western

Duke Realty Breaks Ground on 1.2 MSF Distribution Facility in Southern California

by Amy Works November 5, 2020

PERRIS, CALIF. — Duke Realty has broken ground on a 1.2 million-square-foot speculative industrial development in Perris. Delivery is slated for summer 2021. Located on 55 acres at 728 W. Rider St., the building will feature 40-foot clear heights, 241 dock doors, 344 trailer stalls, 442 automobile parking spaces and four grade-level loading doors. Additionally, Duke Realty is constructing the property to achieve LEED Silver standards.

November 5, 2020

Acquisitions Colorado Multifamily Western

Avanti Residential Sells Highland Way Apartments in Colorado to Summit Communities for $40.6M

by Amy Works November 5, 2020

NORTHGLENN, COLO. — Denver-based Avanti Residential has completed the disposition of Highland Way, an apartment community located in Northglenn. Summit Communities acquired the asset for $40.6 million. Located at 11310 Melody Drive, the 155,890-square-foot property features 230 apartments in a mix of studio, one- and two-bedroom layouts spread across 10 buildings. Units offer fully equipped kitchens, open living and dining areas, walk-in closets and private balconies or patios. On-site amenities include storage lockers, a clubhouse, swimming pool, barbecue picnic area, playground, basketball court, private dog park and fitness center. David Potarf, Dan Woodward, Matt Barnett and Jake Young of CBRE Capital Markets in Denver represented the seller in the transaction.

November 5, 2020

Arizona Development Industrial Western

ViaWest Delivers 140,372 SF Spec Industrial Space to Chandler Airport Submarket

by Amy Works November 5, 2020

CHANDLER, ARIZ. — ViaWest Group has completed the development of two speculative industrial buildings located at the southwest corner of Willis Road and Hamilton in Chandler’s Airport submarket. Totaling 140,372 square feet, the two buildings feature 65,892 square feet and 74,480 square feet — divisible to 13,000 square feet to 35,000 square feet. The buildings feature 28-foot clear heights, ESFR sprinklers, a mix of dock-high and grade doors and a 180-foot shared concrete gated truck court. Each building has speculative suites complete and are nearly move-in ready. The two buildings complete Phase II of the AZ 202 Commerce Park. The first phase included a build-to-suit for PODS Moving and Storage. Andy Markham, Mike Haenel and Phil Haenel of Cushman & Wakefield are handling marketing and leasing efforts for the property.

November 5, 2020

Acquisitions California Retail Western

SRS Brokers $6.3M Acquisition of Retail Property in Santa Rosa

by Amy Works November 5, 2020

SANTA ROSA, CALIF. — SRS Real Estate Partners has arranged the purchase of a retail building located within Santa Rosa Southside Shopping Center in Santa Rosa. DiLorenzo Santa Rosa Real Estate acquired the asset from an undisclosed seller for $6.3 million. Planet Fitness will occupy between 18,000 square feet to 22,000 square feet of the 38,000-square-foot facility. Scott Landgraf, Amber Edwards and Sarah Edwards of SRS Real Estate Partners represented the buyer, while CBRE and Meridian Commercial represented the seller in the transaction.

November 5, 2020

California Development Industrial Office Restaurant Retail Western

Wonderful Real Estate Begins Construction of Amenity, Training Center at Industrial Park in Shafter, California

by Amy Works November 5, 2020

SHAFTER, CALIF. — Wonderful Real Estate Development has started construction of a new corporate office building, conference center, wellness center, amenity center and vocational school at Wonderful Industrial Park (WIP) in Shafter. Spanning 98,000 square feet, the logistics park is slated for completion in first-quarter 2022. The development will include a 61,000-square-foot corporate office component, a 37,200-square-foot vocational training center and an 8,500-square-foot restaurant café space. The corporate office space will be home to more than 200 Central Valley employees, including those working for Wonderful Citrus, Wonderful Pistachios and Almonds, Suterra, Pom Wonderful and Wonderful Real Estate Development. Additionally, the office space will provide large meeting rooms that will be available to companies within WIP and the community at-large. The development’s Wonderful Wellness Center will include a gym, exercise classes, healthy awareness programs and access to a mobile clinic. In addition to Wonderful Company’s developments, Walmart Inc. is nearing the completion of a 630,000-square-foot distribution facility at WIP. The highly automated property is optimized for handling, packaging and shipping food. The facility is located on 65 acres that Walmart acquired from WIP in 2018. The facility is slated to be fully operational by spring 2021.

November 5, 2020

Acquisitions Colorado Industrial Office Western

CBRE Arranges Sale of 811,817 SF Rocky Mountain Center for Innovation and Technology in Loveland, Colorado

by Amy Works November 4, 2020

LOVELAND, COLO. — CBRE has brokered the sale of Rocky Mountain Center for Innovation and Technology (RMCIT) in Loveland. Bowling Green, Ky.-based Cumberland & Western Resources sold the asset to RMCIT LLC for $15.5 million. Located at 815 14th St. SW, the four-building campus features 811,817 square feet of office and flex industrial space on 177 acres. At the time of sale, the property was leased to a variety of tenants, including Lighting eMotors (formerly Lightning Systems). The property features on-site fiber optic cabling and up to eight megawatts or power capacity. Additional features include secured fencing with controlled access points, ample parking, common and recreational areas, and trucking access on both upper and lower levels. The facility is equipped for both large- and small-scale shipping and receiving operations. Mike Eyer, Mike Camp, Julius Taber and Greg Haynes of CBRE represented the seller in the deal.

November 4, 2020

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