Friday, July 17, 2026
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Banner-Health-Center-Glendale-AZ
ArizonaDevelopmentHealthcareWestern

Banner Health Selects NexCore Group to Develop 130,000 SF Health Center in Arizona

by Amy Works

GLENDALE, ARIZ. — Arizona-based Banner Health has selected NexCore Group, a national healthcare real estate firm, to develop its newest multi-specialty health center. Situated on 17.5 acres within the Aspera mixed-use development in Glendale, Banner Health Center will feature 130,000 square feet of medical office space. The three-story facility will offer clinical services including family medicine, pediatrics, orthopedics, general surgery, dermatology, gastroenterology, cardiology, endocrinology, internal medicine and OB/GYN, as well as lab, pharmacy and imaging services. Groundbreaking is slated for January, with a grand opening scheduled for early 2021.

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AcquisitionsNevadaRetailWestern

K Corp. Acquires Crossing at Meadowood Square Shopping Center in Reno for $4.4M

by Amy Works

RENO, NEV. — K Corp. has purchased a portion of retail space at The Crossing at Meadowood Square, a shopping center in Reno. The company acquired the 31,400-square-foot portion for $4.4 million. This transaction completes its ownership of the 63,000-square-foot center, after purchasing 32,000 square feet of space in 2014. The 31,400-square-foot portion is an anchor site currently occupied by Goodwill, which will vacate the space in October. The new owner plans to redevelop the property. Additional tenants include FedEx Office, Subway, Nevada Home Fitness and Animal Emergency. The name of the seller was not released.

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1341-S-Watson-Rd-Buckeye-AZ
AcquisitionsArizonaNet LeaseRetailWestern

Marcus & Millichap Arranges $3.6M Sale of Planet Fitness-Occupied Property in Buckeye, Arizona

by Amy Works

BUCKEYE, ARIZ. — Marcus & Millichap has negotiated the sale of a retail property located at 1341 S. Watson Road in Buckeye. A limited liability company sold the property to an undisclosed buyer for $3.6 million. Planet Fitness occupies the 20,091-square-foot property, which was built this year, on a double-net-leased basis. The tenant just signed a 15-year lease for the property. Mark Ruble, Jamie Medress and Chris Lind of Marcus & Millichap’s Phoenix office represented the seller in the deal.

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The-Current-River-North-Denver
ColoradoDevelopmentOfficeWestern

Schnitzer West To Develop 12-Story Office Building in Denver’s RiNo District

by Amy Works

DENVER — Schnitzer West has announced plans to develop The Current, River North, a Class A office building located at 3615 Delgany St. in Denver’s River North (RiNo) Art District. The development is a partnership between Schnitzer West and Crafts Cos., a Denver-based real estate firm. Schnitzer West acquired the 34,250-square-foot site to develop an office building for business and retail purposes. The 12-story building will feature two levels of underground parking, three levels of above-grade podium parking and eight floors of office space. The top two floors will offer private amenities for tenants, including Schnitzer West’s signature “great room” working and leisure space and a rooftop terrace. Additional amenities will include ground-level retail, office-building lobby and conference center and bicycle storage. The first phase of construction is scheduled to begin in February 2020. Davis Partnership Architects served as architect and Transwestern has been retained to handle leasing for the completed project.

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Stockton-Plaza-Stockton-CA
AcquisitionsCaliforniaRetailWestern

GIGU Inc. Buys 105,297 SF Stockton Plaza in California’s Central Valley for $17M

by Amy Works

STOCKTON, CALIF. — GIGU Inc., a private buyer, has purchased Stockton Plaza, a shopping center located at 2323 W. Hammer Lane in Stockton. PPC-Stockton Plaza L.P. sold the asset for $17 million. At the time of sale, the 105,297-square-foot property was 97 percent occupied. Tenants include Food Source (Raley’s), AutoZone, BBVA Compass Bank, Great Clips, McDonald’s and Little Caesars. Chris Tramontano, John Redfield and Steve Kalyk of SRS Real Estate Partners’ Investment Properties Group represented the seller in the deal.

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Arrowhead-Valley-Retirement-Resort-Peoria-AZ
ArizonaDevelopmentMultifamilyNevadaSeniors HousingWestern

Resort Lifestyle Communities Completes Seniors Housing Projects in Arizona, Nevada

by Amy Works

PEORIA, ARIZ., AND HENDERSON, NEV. — Resort Lifestyle Communities has completed construction of two independent living communities, Arrowhead Valley Retirement Resort in the Phoenix suburb of Peoria and Cactus Valley Retirement Resort in the Las Vegas suburb of Henderson. A grand opening is being hosted Sept. 12 at Arrowhead Valley, while Cactus Valley has already opened its doors. The Henderson community features 128 units, but the size of the Peoria community was not disclosed. Resort Lifestyle Communities develops all-inclusive resort-style seniors housing communities across the country, with 45 properties open or under construction.

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Santa-Ana-Tustin-Medical-Pavilion-Tustin-CA
AcquisitionsCaliforniaHealthcareOfficeWestern

Camelot West Commercial Negotiates $4.8M Sale of Medical Office Building in Tustin, California

by Amy Works

TUSTIN, CALIF. — Camelot West Commercial has arranged the sale of Santa Ana – Tustin Medical Pavilion, a medical office building in Tustin. TKL Westminster acquired the property from Santa Ana Tustin Medical Pavilion LLC for $4.8 million with no concessions or repairs. Developed in 1968, the 17,594-square-foot building is located at 17400 Irvine Blvd. in Tustin. The building features 13 separate suites, each with examination rooms, lobbies, offices and private bathrooms. The building also features a full-service pharmacy. Jennifer Esser of Camelot West Commercial represented the seller, while Mia Pham of Lee & Associates represented the buyer in the transaction.

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AcquisitionsCaliforniaNet LeaseRetailWestern

Marcus & Millichap Arranges $2.9M Sale of Net-Leased Building in Livermore, California

by Amy Works

LIVERMORE, CALIF. — Marcus & Millichap has brokered the sale of a retail building, located at 2287 Second St. in downtown Livermore. A limited liability company acquired the building from tenants in common for $2.9 million. Bank of the West occupies the 7,108-square-foot building with one year remaining on the triple-net lease with no options to extend. Constructed in 1960 on a 0.41-acre lot, the building features multiple drive-in lanes and ample parking. Ethan Pintard and Jarrod Senechal of Marcus & Millichap’s East Bay, Calif., office represented the seller and the buyer in the deal.

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CaliforniaMarket ReportsMultifamilyWesternWestern Market Reports

Multifamily Activity Is Strong in Northern California…For Now

by Taylor Williams

Northern California’s multifamily market has a strong development pipeline right now, but after 2020, it drops off dramatically. There is an increasingly toxic political climate in California, with measures like AB 1482 and the revival of Prop 10, which will likely throw a wrench in any planned development beyond 2020. Some of the most notable projects currently underway include Brooklyn Basin’s Orion in Oakland. The first 241 units out of a planned 3,700 have been completed. Brooklyn Basin is a $1.5 billion project that is reshaping the Oakland waterfront and transforming the area into a new, vibrant neighborhood. In San Jose, the area around the proposed Google downtown campus is also on everyone’s radar. The majority of current Bay Area development is concentrated in Oakland and Santa Clara County, with the latter currently experiencing a 4.57 percent vacancy rate. Market fundamentals, including proximity to jobs and a more welcoming environment toward multifamily development have attracted developers and renters alike to these two places. Developers Carmel Partner, Hanover and Holland have been particularly active in Oakland, as of late. Current conditions in Northern California have produced a tenant’s market, with an abundance of new units coming online at once. We are …

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liberty-san-diego-california
CaliforniaDevelopmentMixed-UseTop StoriesWestern

Liberty National Buys Downtown San Diego Site to Develop 40-Story Mixed-Use Project

by Alex Patton

SAN DIEGO — Liberty National Corp., a San Diego-based multifamily developer, has assembled a 1.38-acre, full-block site in San Diego and announced plans for a mixed-use project on the property. Liberty’s proposal includes a 40-story residential tower and two mid-rise buildings of six and seven stories. The property will offer a total of 640 apartments in a mix of 553 one-bedroom units, 86 two-bedroom units and one three-bedroom unit. Additionally, the development will feature 16,485 square feet of multi-tenant commercial/retail space spread across the ground floors of the three buildings. The project is located at the intersection of Park Boulevard and Broadway in downtown San Diego’s East Village. The San Diego Union-Tribune reports that the Liberty purchased the last piece of the site from the Salvation Army for approximately $7.7 million. “The site is a strategic acquisition given our interests in the area and its location at the juncture of two major entries into the downtown core on the high-activity Broadway and Park Boulevard corridors,” says Randy Williams, vice president with Liberty National. “There remains a housing shortage in San Diego. As this sought-after region continues to grow and attract talent, this new project will appeal to a wide range of residents …

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