CHEYENNE, WYO. — SkyView Advisors has negotiated the sale of Superior Storage of Cheyenne, a self-storage facility located in Cheyenne. Storage Star acquired the property for an undisclosed price. Situated on 6.4 acres at 4405 Van Buren Ave., Superior Storage of Cheyenne totals 99,700 rentable square feet and 493 total units. Zachary Urow and Ryan Clark of SkyView Advisors represented the undisclosed seller in the deal.
BAKERSFIELD, CALIF. — Bakersfield-based LandStone Cos. has completed the sale of Mira Sol Gardens, an apartment community located in Bakersfield. A Newport Beach, Calif.-based private investment group acquired the property for $22.5 million, or $197,500 per unit. Built in 2016, the property features 114 apartments in a mix of two- and three-bedroom floorplans with modernized interiors, attached two-car garages and water-saving, drought-resistant landscaping. The asset is situated on 11.4 acres on Gasol Court, Jerno Drive and Callado Lane in the Far Southwest submarket of Bakersfield. Mark Bonas of The Mogharebi Group and Michael Jordan of Kidder Mathews represented the seller in the transaction.
RICHLAND, WASH. — Marcus & Millichap has brokered the sale of Starbucks Shopping Strip, a retail asset located in Richland. A developer sold the property to an undisclosed buyer for $1.9 million. Located at 698 Gage Blvd., the property features 7,038 square feet of retail space. Brendan Powell of Marcus & Millichap’s Portland, Ore., office, along with Joe Deis of Marcus & Millichap, represented the seller in the deal.
PHOENIX — New York-based DRA Advisors has purchased Camelback Lakes, a multi-story office building located at 2710, 2720, 2730 and 2850 E. Camelback Road, for $47.5 million. Developed in 1983, the four-building asset features 203,290 square feet of office space with a detached parking deck. At the time of sale, the property was 85 percent occupied. Mainstreet Capital will provide property management services, while Keith Lambeth of Cushman & Wakefield will provide leasing services for the property. Chris Toci and Chad Littell of Cushman & Wakefield, supported by the agency leasing team of Keith Lambeth, closed the transaction.
AVONDALE, ARIZ. — 29th Street Capital (29SC) has purchased Las Casitas Apartments, a multifamily community located in Avondale, for an undisclosed price. The name of the seller was not released. 29SC plans to invest more than $2.1 million in capital improvements at the 168-unit property. Planned interior upgrades include black appliances, improved lighting, USB ports, refaced cabinets, fresh paint and kitchen backsplashes, while exterior renovations include enhancing the dog park, clubhouse, pool area and other amenities. The buyer also plans to address deferred maintenance at the community. The acquisition is 29SC’s 13th in the Phoenix market, for a total of more than 2,500 units.
TEMPE, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has completed the sale of MarQ at 1st, an apartment community located in Tempe. Knightvest Capital acquired the property from Western Wealth Capital for $24 million, or $146,341 per unit. Constructed in 1985, MarQ at 1st features 164 apartments and is situated less than a mile from Arizona State University’s main campus and Tempe’s Mill Avenue District, which offers a mix of more than 125 local eateries and boutique retailers. Cliff David and Steve Gebing of IPA represented the seller and procured the buyer in the deal.
WESTLAKE VILLAGE, CALIF. — Kilroy Realty Corp. has completed the disposition of Westlake Plaza Centre 2, an office building located at 2829 Townsgate Road in Westlake Village. Majestic Asset Management and The Johnston Group acquired the property for $18.2 million. Built in 1990 and situated on 1.2 acres, the three-building asset features 84,098 square feet of office space. Sean Fulp, Ryan Plummer and Mark Schuessler of Newmark Knight Frank represented the seller in the deal.
PHOENIX — DAUM Commercial Real Estate Services has facilitated the sale of an industrial building located in Phoenix’s Southwest submarket. Exeter Property Group purchased the asset from David Turner International for $8.2 million in an off-market transaction. Situated on 7.2 acres at 4502 W. Monterosa St., the 123,754-square-foot property features an air-conditioned warehouse, six dock-high doors, two grade-level doors, ample parking and 24-foot clear heights. Trevor McKendry and Chris Rogers of DAUM represented the buyer and seller in the deal.
LAS VEGAS — Los Angeles-based TruAmerica Multifamily, in a joint venture with an institutional partner, has purchased Allanza at the Lakes, a multifamily property located at 8600 Starboard Drive in Las Vegas, for $152 million. Allanza is the fourth largest apartment community in Nevada and the largest acquisition by unit size in the six-year history of TruAmerica. Built in 1986, Allanza features 896 units in a mix of one-, two- and three-bedroom layouts spread across 56 two-story buildings on a 40-acre site. Community amenities include five swimming pools, two fitness centers, a pet spa, picnic areas and a playground. Phillip Weigand and Thomas Olivetti of Northmarq’s Las Vegas office represented the undisclosed seller in the deal.
SACRAMENTO, CALIF. — A public-private partnership between University Enterprises Inc. — California State University, Sacramento’s (CSUS) commercial services auxiliary — and Greystar has broken ground on Hornet Commons, a 365,000-square-foot residence complex. The 1,100-bed development will feature six four-story buildings. Shared amenities will include a swimming pool, café, fitness center and a community room. Delivery is slated for fall 2021 The development team includes Sundt Construction Inc. and architectural firm Steinberg Hart.
