Sunday, February 8, 2026
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Western

Centerpointe-Commerce-Center-Moreno-Valley-CA
CaliforniaDevelopmentIndustrialWestern

Rockefeller Group, Newcastle Partners Break Ground on 203,944 SF Distribution Center in Inland Empire

by Amy Works

MORENO VALLEY, CALIF. — Rockefeller Group has broken ground on Centerpointe Commerce Center, a speculative distribution center situated on 8.8 acres of industrial land in Moreno Valley. The 203,944-square-foot facility is slated for completion in summer 2020. Located on Frederick Street, the dock-high industrial building will feature 32-foot clear heights, 8,000 square feet of speculative office improvements, 106 auto-parking stalls and 26 trailer-parking stalls. Additionally, the property will offer access to several Southern California freeways, including Interstate 215, State Route 60, State Route 90 and Interstate 10. Rockefeller Group acquired the site from Newcastle Partners in April. Newcastle pursued the required governmental approvals for the projects beginning in October 2017, and the company successfully obtained the entitlements and zoning just prior to Rockefeller Group’s acquisition. Rockefeller Group and Newcastle selected Newport Beach, Calif.-based RM Dalton as general contractor, Herdman Architecture + Design as architect and SDH & Associates as civil engineer. Bill Heim, Finn Comer, Alex Heim and Nesha Ritchie of Lee & Associates are the exclusive leasing agents for Centerpointe Commerce Center.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsArizonaMultifamilyWestern

Security Properties Acquires 172-Unit The Rev Apartments in Arizona for $28.2M

by Amy Works

TEMPE, ARIZ. — Security Properties has purchased The Rev Apartments, a Class C, garden-style multifamily property located in Tempe, for $28.2 million. Originally constructed in 1972 on 11 acres, The Rev features 172 units spread across 16 residential buildings. The previous owner fully renovated the property, including new dual-pane windows and slider glass doors, exterior paint, roof upgrades/repairs and the addition of in-unit washers/dryers and above-range microwaves. Community amenities include a fully renovated leasing office and fitness center, as well as an outdoor heated swimming pool and spa. Security Properties has a light upgrade planned for the property, including adding a number of supplemental items to unit kitchens and strategic improvements to the community’s amenity package. Security Properties Residential, an affiliate of Security Properties, will manage the asset. With this acquisition, Security Properties now owns 122 assets totaling approximately 24,000 units across its portfolio, including eight properties and more than 3,200 units in the Phoenix market.

Continue Reading
FacebookTwitterLinkedinEmail
351-California-St-San-Francisco-CA
AcquisitionsCaliforniaOfficeWestern

Polidev Sells 140,047 SF Historic Office Building in Downtown San Francisco

by Amy Works

SAN FRANCISCO — Polidev has completed the sale of 351 California Street, a 16-story office building located in downtown San Francisco. Tidewater Capital and affiliates of the Goldman Sachs Merchant Banking Division acquired the property for an undisclosed sum. Built in 1920, the 140,047-square-foot building is one of the most recognized historic office buildings in San Francisco’s Financial District. The property features distinct architectural details, U-shaped floor plates and exposed ceilings. The previous owner invested approximately $8 million into the property with a partial renovation in 2010 and a seismic retrofit in 2015. At the time of sale, the property was 87 percent occupied by a diverse roster of tenants, including tech and professional services firms. Kyle Kovac, Mike Taquino, Russell Ingrum, Mandy Lee and Giancarlo Sangiacomo of CBRE’s San Francisco office represented the seller in the transaction.

Continue Reading
FacebookTwitterLinkedinEmail
Park-Cheesman-Apts-Denver-CO
AcquisitionsColoradoMultifamilyWestern

Unique Properties Negotiates $30M Sale of Park Cheesman Apartments in Denver

by Amy Works

DENVER — Unique Properties/TCN Worldwide has brokered the sale of Park Cheesman Apartments, a multifamily property in Denver. A Los Angeles-based multifamily office acquired the asset from an undisclosed seller, which owned the property for the last 42 years. This price was $30 million, or $340,909 per unit. Located at 1177 Race St. adjacent to Cheesman Park, the property features 88 units with balconies, two stories of parking and a rooftop deck with views of the city. At the time of sale, Park Cheesman was 98 percent occupied. Marc Lippitt and Justin Herman of Unique Properties/TCN Worldwide handled the transaction.

Continue Reading
FacebookTwitterLinkedinEmail
ArizonaDevelopmentMultifamilyWestern

Cushman & Wakefield Brokers $6.4M Sale of Multifamily Development Site in Phoenix

by Amy Works

PHOENIX — Cushman & Wakefield has arranged the sale of a 1.52-acre land site within Roosevelt Row Arts District in Phoenix. An entity formed by Phoenix-based Alliance Residential acquired the site from Edgehill Investments for $6.4 million. The buyer plans to develop Broadstone Portland on the land, which is located at the northeast corner of Third and Portland streets. The planned 161-unit multifamily asset will feature studio, one- and two-bedroom units ranging from 620 square feet to 1,600 square feet. Additionally, the five-story property will feature street-level stop entrances on the top of two levels of podium parking and an elevated amenity deck with a resort-style swimming pool and fitness facility. Construction is slated to started in fourth-quarter 2019. ORB Architects is designing the project.

Continue Reading
FacebookTwitterLinkedinEmail
85-Scotland-Rd-Pueblo-CO
AcquisitionsColoradoMultifamilyWestern

Pinnacle Real Estate Advisors Arranges $6.2M Sale of Royal Plaza Multifamily Asset in Colorado

by Amy Works

PUEBLO, COLO. — Pinnacle Real Estate Advisors has facilitated the sale of Royal Plaza, an apartment complex located at 85 Scotland Road in Pueblo. An undisclosed buyer acquired the property for $6.2 million. The complex features 100 units in a mix of studio, one- and two-bedroom layouts. The undisclosed seller owned the property for four years and maintained 100 percent occupancy during its ownership. The buyer plans to replace the property’s roofs and continue renovating the units. Mike Krebsbach of Pinnacle Real Estate Advisors represented the buyer and seller in the transaction.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsCaliforniaIndustrialWestern

JJRE Properties Sells 14,380 SF Industrial Building in California for $2.7M

by Amy Works

CORONA, CALIF. — JJRE Properties has completed the disposition of an industrial building in Corona. An undisclosed buyer acquired the property for $2.7 million. Located at 508 Bateman Circle, the property features 14,380 square feet of industrial space. Greg Diab of Lee & Associates’ Orange, Calif., office represented the seller in the deal.

Continue Reading
FacebookTwitterLinkedinEmail
Sterling-920-Terrace-Tempe-AZ
AcquisitionsArizonaMultifamilyStudent HousingWestern

TSB Realty Arranges Sale of 775-Bed Student Housing Community Near Arizona State University

by Amy Works

TEMPE, ARIZ. — TSB Realty has arranged the sale of Sterling 920 Terrace, a 775-bed student housing community located near Arizona State University in Tempe. Coastal Ridge Real Estate purchased the property in a joint venture with iA Financial Group from The Dinerstein Companies and Harrison Street Real Estate. Terms of the transaction were undisclosed. The property offers studio, one-, two- and four-bedroom units. Shared amenities include a pet park; resort-style swimming pool and hot tub; a poolside lounge with hammocks and a television; a two-story fitness center, yoga area and boxing room; grilling stations; a fire pit; a business center; and private study rooms. TSB Capital Advisors arranged acquisition financing on behalf of the buyer.

Continue Reading
FacebookTwitterLinkedinEmail
Summerly-Zanjero-Glendale-AZ
AcquisitionsArizonaMultifamilyWestern

Fore Property Sells 340-Unit Summerly at Zanjero Multifamily Asset in Glendale for $78.5M

by Amy Works

GLENDALE, ARIZ. — Fore Property has completed the disposition of Summerly at Zanjero, an apartment community located in Glendale. An undisclosed buyer acquired the property for $78.5 million. Located at 7375 N. Zanjero Blvd., the asset comprises 32 two- and three-story buildings spread across an 18.6-acre site. Constructed in 2018, Summerly at Zanjero features 340 units in a mix of one-, two- and three-bedroom layouts. Community amenities include two swimming pools with barbecues and fireplaces, a fitness center with yoga and spin room, a dog park, playground and parcel lockers. At the time of sale, the property was 95 percent occupied.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsCaliforniaMultifamilyWestern

ARES Buys 235-Unit Apartment Complex in Southern California

by Amy Works

LONG BEACH, CALIF. — Advanced Real Estate Services (ARES) has purchased a multifamily property located near California State University, Long Beach in Long Beach for an undisclosed amount. The name of the seller was not released. ARES plans to rebrand the property as The Circle Apartments at Long Beach. Additionally, ARES plans to invest more than $6 million in upgrades at the 235-unit community. Renovations will include new windows, pool area upgrades, added business center and paint scheme. Interior unit upgrades will include new flooring, paint, fixtures and smart locks. Some of the non-renovated units will also receive new cabinets and countertops. Community amenities include three swimming pools, a fitness center and lounge. Kevin MacKenzie and Greg Brown of JLL’s Newport Beach, Calif., office arranged $46.8 million in Freddie Mac financing for the buyer. The 10-year loan features interest-only payments.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts