Western

Longpoint Partners Buys 222,398 SF Industrial Building in Phoenix’s Southeast Valley

by Amy Works May 22, 2025

TOLLESON, ARIZ. — Boston-based Longpoint Partners has purchased a 222,398-square-foot Class A industrial property in Tolleson from an undisclosed seller for $36 million. Located at 130 S. 83rd Ave., the 222,398-square-foot single-tenant building is fully leased to Exel Inc. (dba DHL Supply Chain). DHL’s client is Bose Corp., a leader in the audio industry. Bose Corp. had previously leased the property for 25 years (since 1999) before recently assigning the lease to DHL in summer 2024. The asset features 30-foot clearance, abundant dock- and grade-level doors, an advanced ESFR sprinkler system and a high-capacity power supply. Additionally, the property offers close proximity to Interstate 10, Loop 202 and Loop 101. Will Strong, Molly Hunt, Michael Matchett, Jack Stamets and Madeline Warren of Cushman & Wakefield’s National Industrial Advisory Group — Mountain West represented the seller in the deal.

May 22, 2025

Acquisitions California Industrial Western

Pacific Coast Commercial Negotiates $11.5M Sale of Industrial Building in Santee, California

by Amy Works May 22, 2025

SANTEE, CALIF. — Pacific Coast Commercial has arranged the acquisition of a 4.7-acre industrial property located at 8520-8575 Roland Acres Road in Santee. Bailey Roland Acres LP, a local investor, acquired the asset for $11.5 million in an all-cash transaction. The property features five metal warehouse buildings totaling approximately 50,668 square feet, along with large, fenced yards and two overhead cranes. The two-parcel site is fully leased to five tenants. Nick Mane, Ken Robak and Jasmine Golia of Pacific Coast Commercial represented the buyer, while Colliers represented the seller, Mary Jude LLC, in the deal.

May 22, 2025

California Loans Retail Western

PSRS Arranges $8M Refinancing for Retail Property in Westminster, California

by Amy Works May 22, 2025

WESTMINSTER, CALIF. — PSRS has arranged the $8 million refinance of a retail property in Westminster. The 58,834-square-foot asset is situated in the city’s Little Saigon district. Rob Joseph and Ari Zeen of PSRS secured the 25-year loan, which features a 25-year amortization and a 35 percent loan-to-value ratio, through one of PSRS’ correspondent life insurance companies.

May 22, 2025

Acquisitions Colorado Multifamily Western

Pinnacle Brokers $3.4M Sale of Value-Add Apartment Property in Boulder, Colorado

by Amy Works May 22, 2025

BOULDER, COLO. — Pinnacle Real Estate Advisors has brokered the sale of 1937 Goss Street, a value-add multifamily property in Boulder. The asset traded for $3.4 million, or $309,091 per unit. The 11-unit building is located in close proximity to the University of Colorado Boulder. Luke Salazar, Robert Lawson and Jim Knowlton of Pinnacle represented the buyer and seller in the deal.

May 22, 2025

Acquisitions Multifamily Washington Western

Equity Residential Divests of 289-Unit Urbana Multifamily Community in Seattle

by Amy Works May 21, 2025

SEATTLE — Equity Residential has completed the disposition of Urbana, a seven-story multifamily property in Seattle. Carmel Partners acquired the property. The sales price was nearly $121 million, according to local media reports. Giovanni Napoli, Philip Assouad, Ryan Harmon, Nick Ruggiero and Anthony Palladino of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured the buyer. Brian Eisendrath and Cameron Chalfant of IPA Capital Markets arranged acquisition financing for the buyer. Built in 2014, Urbana offers 289 apartments, two rooftop decks, a resident lounge with theater, a dog run and pet spa, bike storage and a gated parking garage, as well as 29,884 square feet of street-level retail space occupied by Verizon Wireless, Papa John’s, Five Guys and Planet Fitness.

May 21, 2025

California Leasing Activity Office Western

Zscaler Leases 301,163 SF Office Headquarters Space in Santa Clara, California

by Amy Works May 21, 2025

SANTA CLARA, CALIF. — Zscaler has signed a sublease for 301,163 square feet of office space at 4301 and 4401 Great America Parkway in Santa Clara. The company, which provides Zero Trust cybersecurity, will use the facility as its new Silicon Valley global headquarters that is set to open in summer 2026. Mike Saign and Rich Hoyt of Newmark represented Zscaler in the lease negotiations.

May 21, 2025

Colorado Development Multifamily Western

The Garrett Companies to Develop Two Multifamily Communities in Metro Denver

by Amy Works May 21, 2025

LONGMONT AND COLORADO SPRINGS, COLO. — The Garrett Companies is developing two apartment communities in Longmont and Colorado Springs. The combined development value of the two properties is $145 million. Wintrust provided a construction loan for the Longmont property, while National Bank of Indianapolis provided a construction loan for the Colorado Springs asset. Located at 245 Bountiful Ave. in Longmont, the garden-style project will offer 224 one-, two- and three-bedroom apartments, with 12 percent of the units income restricted. The asset will include one four-story and 10 two-story buildings, a resort-style pool and spa with cabanas, a fitness center, TV lounges, pickleball courts and a dog park. Construction for the $90 million project is slated for completion in early 2027. Humphreys & Partners is serving as architect for the development. Situated on the southwest corner of Rio Vista Drive and Barnes Road in Colorado Springs, the garden-style property includes four four-story buildings with a mix of 41 percent one bedrooms, 41 percent two bedrooms and 18 percent three bedrooms. Each of the 163 units will have a full-sized washer/dryer. Community amenities will include a resort-style pool and spa and cabanas, a fitness center, dog park, clubhouse with lounge, billiards and arcade …

May 21, 2025

Acquisitions Arizona Multifamily Western

Northmarq Negotiates $8.2M Sale of Apartment Community in Phoenix

by Amy Works May 21, 2025

PHOENIX — Northmarq has arranged the sale of The Retro on 32nd Street, a garden-style multifamily property in Phoenix. Goodyear, Ariz.-based Belbrook 32 LLC sold the asset to La Jolla, Calif.-based Cane Capital for $8.2 million. Built in 1968 and renovated in 2002, The Retro at 32nd Street offers 62 studio, one- and two-bedroom units. Apartments feature stainless steel appliances, high-speed internet, vinyl plank flooring, oversized closets, open kitchens and ceiling fans. The pet-friendly community includes a swimming pool, leasing office and onsite management, laundry facility, an outdoor grilling space, onsite patrol and gated access. The property is located at 3025 N. 32nd St. Ryan Boyle, Trevor Koskovich, Jesse Hudson and Logan Baca of Northmarq’s Phoenix Multifamily Investment Sales represented the seller in the deal.

May 21, 2025

Acquisitions California Office Western

Matthews Real Estate Brokers Sale of 6,815 SF Office Property in Burlingame, California

by Amy Works May 21, 2025

BURLINGAME, CALIF. — Matthews Real Estate Investment Services has arranged the sale of The Clock Tower, an office building in Burlingame. Sazze Partners, a venture capital firm from South Korea, acquired the asset for $5.4 million and plans to establish a U.S. office at the site. Located at 20 Park Road, The Clock Tower offers 6,815 square feet of office space. Marko Buljan of Matthews facilitated the transaction.

May 21, 2025

Acquisitions Arizona Multifamily Western

PB Bell, PCCP Sell Zaterra Multifamily Property in Chandler, Arizona for $137.5M

by Amy Works May 20, 2025

CHANDLER, ARIZ. — PB Bell and PCCP have completed the sale of Zaterra, an apartment community in Chandler, to an undisclosed buyer for $137.5 million, or $350,765 per unit. Completed in 2023 on 22 acres, Zaterra features 392 apartments with walk-up layouts and garages spread across a two- and three-story garden-style property. Community amenities include two swimming pools with sundecks, a creative suite with a large conference room and individual workspaces, a 24-hour fitness center and yoga lawn. Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, represented the sellers and procured the buyer in the deal.

May 20, 2025

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