Western

Lowe Property Group Breaks Ground on $40M Mixed-Use Development in Downtown Salt Lake City

by Amy Works September 14, 2020

SALT LAKE CITY — Developer Lowe Property Group, architect MVE + Partners and general contractor Zwick Construction have broken ground on 6th & Main, a mixed-use development in downtown Salt Lake City. The eight-story structure will feature 10,100 square feet of commercial space and 141,149 square feet of residential apartments. Totaling 283,936 square feet, 6th & Main will offer 170 market-rate apartments in a mix of modern studio, one- and two-bedroom layouts, a street-level lounge, co-working space, parking garage, two-level fitness center, swimming pool, spa, rooftop clubroom and viewing terrace. The property is slated to open for leasing in fall 2022.

September 14, 2020

Arizona Development Multifamily Western

Akara Partners to Open 320-Unit Kenect Phoenix Apartment Community this Fall

by Amy Works September 14, 2020

Editor’s update: As of October 2025, this property was rebranded as Sora. PHOENIX — Chicago-based Akara Partners is bringing Kenect, its hospitality-oriented apartment platform and social membership club, to downtown Phoenix. Located at 355 N. Central Ave., Kenect Phoenix has begun pre-leasing units at its leasing office at 130 N. Central Ave. Kenect will offer 320 furnished and unfurnished units, including junior studios, one-bedroom, one-bedroom flex and three-bedroom/three-bath floor plans. The community will also offer 24-hour amenities, including concierge services, studio fitness classes, social programming, virtual events, 8,000 square feet of ground-floor retail space, 7,000 square feet of co-working space and a rooftop pool. Kenect Phoenix will also offer residents Kenect Exclusive Experiences (KEE) with exclusive access to Kenect-branded events and fitness classes. Residents receive priority reservations for events, such as private concerts in the KEE Studios, demos with local mixologists and chefs, in-house artist classes and pet-friendly happy hours, as well as pop-up coworking and networking events. The property is located near Central Station on the area’s light rail, Arizona State University’s downtown campus, Phoenix Children’s Hospital and Arizona State University Law School and Medical School.

September 14, 2020

Acquisitions Arizona Multifamily Seniors Housing Western

University Partners Acquires Vertex Student Housing Community Near Arizona State University

by Amy Works September 14, 2020

TEMPE, ARIZ. — University Partners has acquired Vertex, a 600-bed student housing community located near Arizona State University in Tempe. The property was built in 2015 and offers a mix of one-, two-, three- and four-bedroom units with bed-to-bath parity. Shared amenities include 7,700 square feet of retail space, a resort-style swimming pool, two-story fitness center with a rock-climbing wall, clubhouse, private study rooms and a cycle room. University Partners plans to upgrade and refresh community common areas and will oversee management of the property. The seller and terms of the transaction were undisclosed.

September 14, 2020

Acquisitions Arizona Multifamily Western

Marcus & Millichap Arranges Sale of 70-Unit Torrey Pines Villas in Glendale, Arizona

by Amy Works September 14, 2020

GLENDALE, ARIZ. — Marcus & Millichap has brokered the sale of Torrey Pines Villas, a 70-unit multifamily property located in Glendale. A limited liability company sold the asset to another limited liability company for $8.3 million. Paul Bay of Marcus & Millichap represented both parties in the deal. Located at 5712 N. 67th Ave., Torrey Pines Villas features 44 one-bedroom/one-bath units and 26 two-bedroom/two-bath units. The community was built in 1985 on 1.14 acres.

September 14, 2020

Company News Industrial Retail Washington Western

Amazon to Hire 100,000 Workers Across U.S., Canada to Meet Continued E-Commerce Demands

by Amy Works September 14, 2020

SEATTLE — Amazon (NASDAQ: AMZN) has announced plans to hire an additional 100,000 full- and part-time employees throughout the United States and Canada. This plan is in addition to the 33,000 new corporate and technology jobs announced last week. The roles offer a starting wage of at least $15 per hour, and in select cities, Amazon is offering sign-on bonuses up to $1,000 to new hires. The new employees will staff the 100 new operations buildings that Amazon is opening this month across its fulfillment centers, delivery stations and other sites. States with the most available jobs include Arizona, California, Colorado, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, Ohio, Oregon, Pennsylvania, Utah, Washington and Wisconsin. This year-to-date, the company has opened more than 75 new fulfillment centers, sortation centers, regional air hubs and delivery stations in the United States and Canada.

September 14, 2020

Arizona Development Multifamily Western

Continental Properties, McShane Construction Begin Development of Springs at Cooley Station Multifamily Property in Gilbert

by Amy Works September 11, 2020

GILBERT, ARIZ. — Continental Properties, as owner, and McShane Construction Co., as general contractor, have started construction of Springs at Cooley Station, an apartment community in Gilbert. Located on 14 acres, the garden-style community will feature 276 units spread across 10 two- and three-story buildings. Units will feature granite countertops and stainless steel appliances. Community amenities will include a clubhouse with a fitness center and outdoor swimming pool, as well as 490 parking spaces. Completion is slated for early 2022. Phillips Partnership is architect of record for the project. This is McShane’s 20th Springs-branded property for Continental, including two additional projects currently underway in the Phoenix area.

September 11, 2020

Rocky-Mountain-Rail-Park-Adams-County-CO

Colorado Development Industrial Western

Rocky Mountain Industrials Receives Final Approval for 620-Acre, Rail-Served Industrial Park in Colorado

by Amy Works September 11, 2020

ADAMS COUNTY, COLO. — The Adams County Board of Commissioners has unanimously approved the final development plan for Rocky Mountain Industrials’ Rocky Mountain Rail Park. Situated in unincorporated Adams County, Rocky Mountain Rail Park is planned as a 620-acre, rail-served industrial park at Manila Road and Interstate 70, adjacent to the Colorado Air and Space Port. Construction is slated to start in fourth-quarter 2020 with the ability for buyers to start building in spring 2021.

September 11, 2020

Acquisitions Industrial Self-Storage Utah Western

Towne Storage Sells 379-Unit Towne Storage Sandy Near Salt Lake City

by Amy Works September 11, 2020

SANDY, UTAH — Towne Storage has completed the disposition of Towne Storage Sandy, a self-storage facility located off Interstate 15 in Sandy, approximately 20 minutes south of downtown Salt Lake City. Terms of the transaction were not released. Storage…Etc. will rebrand and manage the 60,700-square-foot facility. Built in 1993 and 1997, the property features 379 rentable spaces ranging from 25 square feet to 400 square feet, a leasing office, gated access, digital video surveillance and an on-site manager. Jordan Farrer and Adam Schlosser of The LeClaire-Schlosser Group of Marcus & Millichap’s Denver office represented the seller and procured the buyer in the deal.

September 11, 2020

Acquisitions California Industrial Western

Colliers Negotiates Sale of 40,136 SF Industrial Property in Newark, California

by Amy Works September 11, 2020

NEWARK, CALIF. — Colliers International has arranged the sale of an industrial building located at 8484 Central Ave. in Newark. QQE Properties sold the asset to Atum Biotechnology for $8.8 million. Atum Biotechnology plans to convert the 40,136-square-foot building into lab and office space. The buyer is a provider of tools and solutions to life sciences researchers including gene design; optimization and synthesis; expression vectors; and platforms for protein and cellular engineering and production. Todd Severson of Colliers International represented the seller, while Brian Mason of Avison Young and Jeff Powers of Cushman & Wakefield represented the buyer in the transaction.

September 11, 2020

Acquisitions Multifamily Utah Western

Orchard Apartments Acquires 20-Unit Parkwood Apartments in Metro Salt Lake City

by Amy Works September 11, 2020

OGDEN, UTAH — Chicago-based Orchard Apartments has purchased Parkwood Apartments, a multifamily property located at 120 Dan St. in Ogden. Crapse Building One sold the property for close to the $3.3 million list price. Vicente Cantua of Cushman & Wakefield represented the seller in the deal. Parkwood Apartments features 20 two-bedroom units, 15 of which are two-bedroom/two-bath layouts and five are two-bedroom/one-bath floor plans. The property is 100 percent Section 8 housing with a 20-year Housing Assistance Payments contract that renewed in June.

September 11, 2020

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