Western

JLL Negotiates $34.9M Sale of Waterfront Retail Center in San Diego

by Amy Works August 28, 2025

SAN DIEGO — JLL Capital Markets has arranged the $34.9 million sale and financing of The Headquarters, an open-air shopping center in San Diego’s Marina District at the entrance to Seaport Village. A private real estate investment firm sold the property to a private real estate partnership. Located at 789 W. Harbor Drive, The Headquarters features 73,823 square feet of retail space. The former San Diego Police headquarters complex was completely repositioned in 2013 and features a mix of food and beverage, daily needs and apparel tenants. At the time of sale, the property was 83.3 percent leased. Current tenants include Eddie V’s, The Cheesecake Factory, Puerto, Galpão Gaucho Brazilian Steakhouse, Wedgewood Weddings and Starbucks Coffee. Gleb Lvovich, Geoff Tranchina and Daniel Tyner of JLL represented the seller in the transaction. Gregg Shapiro and John Marshall of JLL assisted with the deal.

August 28, 2025

Colorado Development Multifamily Seniors Housing Western

Headwaters Begins Preleasing 172-Unit Active Adult Community in Centennial, Colorado

by Amy Works August 28, 2025

CENTENNIAL, COLO. — Headwaters Group has begun preleasing at Aspendale Centennial, the owner’s first community under its new Aspendale active adult brand. Greystar will operate the community on behalf of Headwaters. Totaling 203,653 square feet, Aspendale Centennial in Centennial features 172 apartments across four stories. Move-ins are scheduled to begin this October. Amenities at the property include a two-story clubhouse with a fitness room, art and activity areas, and gathering spaces. Other amenities include a lap pool, spa and community garden.

August 28, 2025

Acquisitions Colorado Retail Western

Platinum CRE Brokers $3.5M Sale of Retail Building in Denver

by Amy Works August 28, 2025

DENVER — Platinum Commercial Real Estate (CRE) has arranged the sale of 2000 North Broadway, a freestanding retail building in Denver. Broadway Cali Partners LLC sold the property to 2000 N Broadway Denver LLC for $3.5 million. Paul Cattin of Platinum CRE represented the seller, while Kara Turner of Cushman & Wakefield represented the buyer in the deal.

August 28, 2025

Arizona Industrial Loans Western

PSRS Arranges $3.3M Refinancing of Commercial Kitchen Facility in Phoenix

by Amy Works August 28, 2025

PHOENIX — PSRS has arranged $3.3 million in refinancing for a commercial kitchen facility in Phoenix. The property features 22 private, health department-approved commercial kitchens ranging from 250 square feet to 500 square feet. Shared amenities include walk-in freezers and coolers, dry storage and dedicated areas for pick-up, delivery and order fulfillment. Mike Davis and Garrett Carter of PSRS secured the loan that includes a three-year term and 25-year amortization schedule through one of PSRS’ correspondent life insurance company lenders.

August 28, 2025

Acquisitions California Multifamily Western

County Center Sells Cypress Point Apartment Community in Ventura, California for $100M

by Amy Works August 27, 2025

VENTURA, CALIF. — County Center LP has completed the disposition of Cypress Point, an apartment complex in Ventura. Raintree Properties acquired the asset for $100 million, or $373,134 per unit. Built in 1990 on 14 acres, Cypress Point offers 268 apartments spread across 28 two-story residential buildings. First-floor units feature nine-foot ceilings and second-floor units have up to 12-foot vaulted ceilings. All apartments offer extra storage space, dishwashers, large closets and window coverings. Community amenities include a barbecue and picnic area, fitness center, clubhouse and covered parking. Kevin Green, Joseph Grabiec and Gregory Harris of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the transaction.

August 27, 2025

Loans Nevada Office Western

CBRE Secures $75M Refinancing for 266,000 SF Office Building in Las Vegas

by Amy Works August 27, 2025

LAS VEGAS — CBRE has secured $75 million in refinancing for an office building located at 1700 S. Pavilion Center Drive within Summerlin, a master-planned community in Las Vegas. Bob Ybarra of CBRE arranged the five-year, fixed-rate loan on behalf of the landlord, Howard Hughes. Completed in 2022, the stabilized 10-story building offers 266,000 square feet of office space. The property features spacious floor plans, outdoor areas and design elements that promote tenant well-being and create a sustainable environment.

August 27, 2025

Acquisitions Colorado Development Multifamily Western

RangeWater, TMGRI Buy Land in Arvada, Colorado for 380-Unit Multifamily Development

by Amy Works August 27, 2025

ARVADA, COLO. — A joint venture between RangeWater Real Estate and TMGRI, a subsidiary of The Meridian Group, has acquired a 16.7-acre site in northwest Arvada within Candelas, a master-planned community. Slated to break ground in September, the development will include 324 apartment residences with one- and two-bedroom floor plans ranging from 688 square feet to 1,196 square feet, along with 56 townhomes with two- and three-bedroom layouts ranging from 1,246 square feet to 1,823 square feet. Interior features will include open floor plans with nine-foot ceilings, chef-inspired kitchens with Shaker cabinetry, black granite and white quartz countertops, stainless steel appliances and large balconies. Additionally, townhomes will offer back patios and garages. Community amenities will include a standalone clubhouse featuring coworking space, a residents’ lounge, garden room and private offices. Other amenities will include an indoor/outdoor fitness club, resort-style pool and spa with outdoor dining and grilling areas, a dog park, fire pits and a community garden. Completion is scheduled for April 2028.

August 27, 2025

Acquisitions California Mixed-Use Multifamily Office Western

Kidder Mathews Arranges Sale of 57,000 SF Apartment, Retail Building in Encino, California

by Amy Works August 27, 2025

ENCINO, CALIF. — Kidder Mathews has brokered the sale of a mixed-use property at 16300 Ventura Blvd. in Encino. A private family office acquired the asset from an undisclosed seller. Marketed for $34 million, the 57,000-square-foot property sold for an undisclosed price. The property offers 49 residential units and two ground-floor commercial suites anchored by JP Morgan Financial Center and Pinnacle Estate Properties. The residences include a mix of townhomes, two-bedroom and one-bedroom units. Community amenities include a fitness center, hot tub, electric vehicle charging stations and subterranean parking. Darrell Levonian and Tanel Harunzade of Kidder Mathews, along with David Saghian of Lyon Stahl, represented the seller, while Levonian and Harunzade represented the buyer in the deal.

August 27, 2025

Acquisitions California Retail Western

Marcus & Millichap Brokers $8M Sale of Retail Property Net Leased to 7-Eleven in Silicon Valley

by Amy Works August 27, 2025

MORGAN HILL, CALIF. — Marcus & Mililchap has brokered the sale of a 7-Eleven net-leased retail property located at 18590 Skipper Lane in Morgan Hill. The asset traded for $8 million. Built in 2021, the 3,700-square-foot property sits on a 1.3-acre lot. Darpan Patel, James Defusto and Dan Yozwiak of Marcus & Millichap represented the seller in the deal. Tony Solomon of Marcus & Millichap served as broker of record in California.

August 27, 2025

California Industrial Market Reports Western Western Market Reports

San Diego Industrial Market Is Playing to its Advantages

by John Nelson August 27, 2025

— By Bryce Aberg and Brant Aberg of Cushman & Wakefield — Optimism is returning to the San Diego industrial market after a few quarters of recalibration. Buyer appetite has resurfaced in core submarkets like Otay Mesa, Miramar and Carlsbad, which has created a ripple effect across the Greater San Diego industrial market. With an inventory of 162 million square feet as of the second quarter, San Diego is beginning to see the benefit of limited supply. Natural barriers like Mexico, the Pacific Ocean, Camp Pendleton and the nearby mountains are driving the San Diego industrial market toward full build-out. There is currently only 2.4 million square feet of inventory under construction, with not much more proposed. Following the all-time highs in rent growth and positive absorption seen in 2021 and 2022, San Diego’s enduring fundamentals and built-in advantages have kept it in place as one of the most stable and competitive in Southern California. With a diversified tenant base, high barriers to entry and a strategic position on the U.S.-Mexico border, fundamentals have held while others in the Southern California region have struggled in comparison. Bid-ask spreads are also starting to narrow as buyer and seller sentiments begin to …

August 27, 2025

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