BOISE, IDAHO — Adler AS Industrial LLC has purchased a portfolio of land and buildings in Boise from the Van Auker Cos. The acquisition consists of more than 2 million square feet of industrial properties across more than 80 assets and over 400 acres of future development land. The acquisition price was not released. The buyer has opened its headquarters on Emerald Street in Boise to manage the new properties. Peter O’Brien of Pacific Commercial Realty Advisors/Cushman & Wakefield assisted the buyer, while Dave Ellis of Capacity Commercial Group represented the seller in the deal.
CENTENNIAL, COLO. — Unique Properties has brokered the purchase of a single-tenant industrial building located at 7909 S. Chambers Road in Centennial. Tim Finholm and Sam Leger of Unique Properties represented the undisclosed buyer in the deal. Additional terms of the deal were not released. Constructed in 2018, the 52,000-square-foot industrial building was a build-to-suit for RoadSafe Traffic Systems, a long-term tenant. Situated on 7.9 acres, the property features a large fenced yard.
SAN DIEGO — Murphy Development Co. has completed the sale of a two-building industrial portfolio located at 8500 Kerns and 2600 Melksee streets in San Diego’s Otay Mesa submarket. LaSalle Investment Management acquired the property for an undisclosed price. Situated on 14.6 acres within the 2 million-square-foot Siempre Viva Business Park, the 201,020-square-foot portfolio features 28- to 32-foot clear heights, wide truck courts, loading via 50 dock-high and eight grade-level doors, and a low office build-out space. The two buildings were constructed in 2016 and 2019. Nick Psyllos and Kara Mathis of HFF represented the seller in the deal.
SEATTLE — Wood Partners has broken ground on Alta Columbia City, a multifamily development in Seattle’s historic Columbia City neighborhood. Slated to open in summer 2021, Alta Columbia City will feature 243 studio, one- and two-bedroom apartments, along with 27,000 square feet of retail and commercial space. On-site amenities will include a private lounge, entertainment area, gourmet kitchen, fitness center, co-working space, outdoor courtyard, heated greenhouse, rooftop deck and dog run. Once completed, the property will be Wood Partners’ third multifamily community in the Seattle area.
OAKLAND, CALIF. — CenterPoint Properties has purchased an industrial property, located at 4601 Malat St. in Oakland, for an undisclosed price. Situated on 3.9 acres, two tenants currently lease the 75,208-square-foot, cross-dock property. The building features secured excess loading with an ability to pave the northern yard, creating drive-around access and cross-dock activation. Mark Maguire and Justin Smutko of Colliers International represented CenterPoint in the transaction. The name of the seller was not released.
RANCHO CUCAMONGA, CALIF. — Cadence Living has broken ground on Cadence at Rancho Cucamonga, a seniors housing community in the Town Center neighborhood of Rancho Cucamonga, approximately 40 miles east of Los Angeles. Cadence is developing the property in partnership with Coyne Development. When complete, the community will offer 97 units of independent living, assisted living and memory care. The community is scheduled to open in the fall of 2020.
DENVER — CBRE has brokered the sale of Monaco Tower, a Class B, value-add office building in the Glendale submarket of Denver. Benjamin Borgers, a local certified public accountant, acquired the property from an entity managed by Stabilis Capital Management for $5.8 million. Located at 925 S. Niagara St., the six-story, 63,170-square-foot building was built in 1974. At the time of sale, 16 tenants occupied the property. Monica Wiley and Jeff Wood of CBRE’s Denver office represented the seller in the transaction.
DENVER — HFF has secured $220 million in financing for 1144 15th Street, a 40-story, Class AA office tower in Denver. Eric Tupler of HFF worked on behalf of Hines and its equity partner to arrange a 17-year, fixed-rate permanent loan through a national life insurance company. Completed in 2018, the 673,852-square-foot core office tower features 5,770 square feet of ground-level retail space and 13 stories of parking for a total of 858 parking spaces. Current tenants include Gates Industrial Corp., Optiv Security Inc. and Faegra Baker Daniels. In 2015, HFF arranged construction financing for the project on behalf of Hines.
LOS ANGELES — George Smith Partners has secured $128.1 million in financing for Orsini II, an institutional-quality multifamily property in downtown Los Angeles. Gary Tenzer of George Smith Partners arranged the funding for the undisclosed borrower. The non-recourse, 10-year, fixed-rate, interest-only loan features a 4.24 percent interest rate and a 55 percent loan-to-value ratio. The new loan replaces a $115.2 million floating-rate loan that George Smith Partners secured for the property in 2016. The original loan had a remaining term of more than eight years and pre-payment penalties in place. Located at 550 N. Figueroa St. in downtown Los Angeles, Orsini II features a five-story residential portion offering a total of 566 units above a three-level parking garage.
YAKIMA, WASH. — The Hotel Group (THG), a hotel management and investment company, has opened Home2 Suites by Hilton Yakima Airport, a four-story hotel located at 2420 W. Nob Hill Blvd. in Yakima. Constructed by Yakima-based Hogback Development, the 107-room property features a mix of studio and one-bedroom suites with en suite kitchens. Additionally, the hotel features free breakfast and laundry facilities. With the opening of Home2 Suites by Hilton Yakima Airport, THG now represents seven out of the 17 Hilton brands.