Western

3300-3390-Horseless-Carriage-Dr-Norco-CA

Goli Nutrition Leases 422,432 SF of Industrial Space in Norco, California

by Amy Works May 11, 2020

NORCO, CALIF. — Goli Nutrition, a vitamin manufacturer, has inked a deal to occupy 422,432 square feet of industrial space spread across four industrial buildings located at 3300-3390 Horseless Carriage Drive in Norco, approximately 45 miles east of Los Angeles. Goli Nutrition plans to use the multi-building campus, located within Saddle Business Center, to expand its operations, including its distribution efforts. The landlord is CapRock Partners. Jeff Ruscigno of Lee & Associates Riverside, Calif., along with Paul Earnhart, Ryan Earnhart and Brian Pharriss of Lee & Associates Ontario, Calif., represented both the landlord and the tenant in the transaction.

May 11, 2020

Acquisitions California Office Western

BPS Bioscience Purchases Office Building in San Diego for $8.5M

by Amy Works May 11, 2020

SAN DIEGO — BPS Bioscience has acquired an office property located in San Diego’s Sorrento Mesa submarket for $8.5 million. The seller was Canada-based Ledcor Group. Located at 6405 Mira Mesa Blvd., the 37,991-square-foot, two-story building was originally built in 1990. The buyer plans to occupy the majority of the building, while leasing back a portion of the building to the seller. Matt Pourcho, Anthony DeLorenzo, Doug Mack and Bryan Johnson of CBRE represented the seller, while an outside firm represented the buyer in the transaction.

May 11, 2020

Acquisitions Net Lease Restaurant Retail Utah Western

SRS Real Estate Partners Negotiates $1M Sale of Starbucks-Occupied Asset in Salt Lake City

by Amy Works May 11, 2020

SALT LAKE CITY — SRS Real Estate Partners has arranged the $1 million leasehold sale of a newly constructed, single-tenant retail property in Salt Lake City. Wadsworth Development sold the asset to a Washington-based investor for $1 million. Starbucks Coffee occupies the 1,920-square-foot, drive-thru building, which is located at 421 E. 400 S. The coffee retailer signed a corporate-guaranteed, 10-year triple-net lease for the property when it opened its doors in late 2019. Sabrina Kortland, Kyle Fant, Jack Cornell and Britt Raymond of SRS National Net Lease Group represented the seller in the deal.

May 11, 2020

Davies Pacific Center Office Building Honolulu

Hawaii Leasing Activity Office Western

Swinerton Builders Signs Office Lease at Davies Pacific Center in Honolulu

by Amy Works May 11, 2020

HONOLULU — Swinerton Builders has signed a 91-month lease to occupy office space at Davies Pacific Center, a 23-story office tower located at 841 Bishop St. in Honolulu. The lease is valued at $3.2 million. The Hawaii-based contractor will relocate its local headquarters to a 12,000-square-foot space on the office tower’s fifth floor. Swinerton provides commercial construction and construction management services throughout the United States. Built in 1972 and renovated in 2006, Davies Pacific Center features 375,742 square feet of commercial office and retail space. San Diego-based Parallel Capital Partners, in partnership with Honolulu-based The Shidler Group, took over asset management of the property last year and has completed nearly $4 million in elevator modernizations and speculative suite upgrades. Additionally, another $1 million in renovations, including lobby improvements, is currently underway. Keenan J.S. Sue of JLL brokered the deal.

May 11, 2020

Company News Multifamily Seniors Housing Western

Sunshine Retirement Rolls Out Portfolio-Wide COVID-19 Testing

by Jeff Shaw May 11, 2020

BEND, Ore. — Sunshine Retirement Living, a Bend-based seniors housing operator with 32 communities in 16 states, now offers FDA-approved “Respira-ID” testing for COVID-19 at all its properties. Residents and employees that are exhibiting symptoms will now all be tested, as well as any new residents moving in regardless of symptoms. Produced by Vikor Scientific, Respira-ID tests for over 40 pathogens known to cause respiratory illness including COVID-19. The manufacturer will provide in-depth virtual training to the community nursing staff, which will administer the tests and oversee the shipment of samples for analysis within 24 hours.

May 11, 2020

LogistiCenter-Speedway-North-Las-Vegas-NV

Development Industrial Leasing Activity Nevada Western

Dermody Properties Completes 251,800 SF Distribution Center in North Las Vegas

by Amy Works May 8, 2020

NORTH LAS VEGAS — Reno, Nev.-based Dermody Properties has completed the development of LogistiCenter at Speedway, a distribution center located at 6565 Nascar St. in North Las Vegas. Situated on 14 acres, LogistiCenter at Speedway features 251,800 square feet of distribution space and immediate access to Interstate 15 via the Speedway Boulevard off-ramp. Dialog Direct, a marketing company offering direct mail, print and fulfillment services, has leased 75,800 square feet at the facility. The remaining 176,600-square-foot space features a 32-foot clear height, 38 dock-high doors, six drive-in doors, a 135-foot truck court, an ESFR fire protection system and tilt-up concrete panel construction. The space is divisible from 31,800 square feet to 112,000 square feet.

May 8, 2020

Acquisitions Colorado Multifamily Western

Valhalla Holdings Sells Stone Mountain Apartment Homes in Colorado for $83M

by Amy Works May 8, 2020

NORTHGLENN, COLO. — Boulder, Colo.-based Valhalla Holdings has completed the disposition of Stone Mountain Apartment Homes, a 15-building multifamily community located at 11625 Community Center Drive in Northglenn. West Palm Beach, Fla.-based Priderock Capital Partners acquired the asset for $83 million. Built in 2001, the 282,948-square-foot property features 320 units in a mix of one- and two-bedroom layouts. Community amenities include a clubhouse; year-round heated pool and spa with a poolside kitchen; 24/7 fitness center; pet wash stations; bicycle repair station; community garden with free individual plots; electric vehicle charging stations; lit private garages with workshop space available; and a nine-hole putting garden. Dan Woodward, David Potarf and Matt Barnett of CBRE Capital Markets in Denver represented the seller in the transaction.

May 8, 2020

Arizona Development Lee & Associates Multifamily Western

Pride Ventures Buys Development Site for 200-Unit Multifamily Asset in Mesa

by Amy Works May 8, 2020

MESA, ARIZ. — California-based Pride Ventures LLC II has purchased an approximately four-acre site, located at 1830 W. Main St. in Mesa. Sycamore Station Fund LLC sold the asset for $3.8 million. The property is Parcel 1 of Sycamore Station, a transit-oriented, mixed-use project currently underway. Pride Ventures plans to develop a 200-unit multifamily community at the site, which offers convenient access to the light rail train line on Main Street. Kimberly Rollins and Dallan Randall of the Commercial Properties / CORFAC International Multifamily team, along with Jeff Hays of the corporate services team and Tate Gunning of Commercial Properties Inc., represented the buyer. Lee & Associates represented the seller in the deal.

May 8, 2020

Development Industrial Nevada Western

LM Construction, Brass Cap Development Deliver 40,000 SF SanTico Industrial Complex in Las Vegas

by Amy Works May 8, 2020

LAS VEGAS — LM Construction and Brass Cap Development have completed SanTico, an industrial property located at 6425 Santa Margarita St. in Southwest Las Vegas. Situated on 2.5 acres, the facility features 40,000 square feet of industrial mid-bay space that can be divisible into two 20,000-square-foot spaces. LM Construction provided design, planning and construction for the project. Michael DeLew and Greg Pancirov of Realcomm Advisors are handling the leasing and sale of SanTico.

May 8, 2020

Development Loans Retail Washington Western

McBride Capital Arranges $7M Acquisition, Predevelopment Loan for Retail Center in Washington

by Amy Works May 8, 2020

VANCOUVER, WASH. — McBride Capital has arranged a $7 million acquisition and predevelopment loan for a proposed retail center in Vancouver’s Salmon Creek neighborhood. The non-recourse debt facility features a 12-month initial term with extension options, limited prepayment penalty and proceeds to cover predevelopment costs. Danny Natsch of McBride Capital placed the financing on behalf of an undisclosed borrower with a national bridge lender. The name of the grocery-anchored retail property and lender were not released.

May 8, 2020

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