Western

Ross Stores Leases 1 MSF Industrial Space in California’s Central Valley

by Amy Works August 30, 2018

SHAFTER, CALIF. — Ross Stores has signed a lease for 1 million square feet of industrial space at 4100 Express Ave. within Wonderful Industrial Park in Shafter. Ross has been an occupant of Wonderful Industrial Park, developed by Wonderful Real Estate Development, since 2014 and currently owns a 1.7 million-square-foot distribution center located near the newly leased property. The fully entitled, 1,625-acre Wonderful Industrial Park is a rail-served industrial development entitled for 26 million square feet. The property currently offers 7.6 million square feet of completed buildings. Additional tenants at Wonderful Industrial Park include Target, American Tire Distributors, Essendant, DMSI, MRC Global and Formica. The park features an on-site rail yard with more than 17,000 feet of track with direct access to Burlington Northern Santa Fe Railway’s mainline.

August 30, 2018

Development Multifamily Seniors Housing Washington Western

Áegis Living Opens 83-Unit Seniors Housing Community in Seattle

by Amy Works August 30, 2018

SEATTLE — Áegis Living has opened the doors on Áegis of West Seattle, an 83-unit assisted living and memory care community in Seattle. The project was designed to look like a Mediterranean resort. Áegis’ most recent communities are designed on such themes. Its community under construction on nearby Mercer Island is lodge-themed, and the company recently opened an Italian-themed community in Seattle. Áegis Living is a Bellevue-based developer and operator with 31 seniors housing communities in Washington, California and Nevada.

August 30, 2018

Acquisitions California Industrial Western

Levin Johnston Negotiates $3.4M Sale of Warehouse in San Jose

by Amy Works August 30, 2018

SAN JOSE, CALIF. — Levin Johnston of Marcus & Millichap has arranged the sale of a vacant industrial/flex warehouse located at 524 E. Brokhaw Road in San Jose. A private local investor sold the property to an undisclosed buyer for $3.4 million. Adam Levin of Levin Johnston represented the seller in the transaction. Situated on 0.73 acres, the 10,000-square-foot facility features 800 ampere, 120-240-volt heavy power, on-site parking and a fenced yard.

August 30, 2018

Acquisitions Colorado Hospitality Western

Xenia Hotels & Resorts Acquires The Ritz-Carlton Denver for $100.2M

by Amy Works August 29, 2018

DENVER — Xenia Hotels & Resorts has purchased The Ritz-Carlton Denver, located at 1811 Curtis St. in downtown Denver, for $100.2 million, approximately $496,000 per key. The acquisition was funded with cash available on the company’s balance sheet. The 14-story hotel features 202 oversized rooms, including 47 suites, 13,000 square feet of meeting space, The Ritz-Carlton Spa and Elway’s Restaurant. The hotel is part of a mixed-use development that includes 25 luxury residences and 193 apartment units. The Ritz-Carlton, Denver is the 39th hotel in Xenia’s portfolio of primarily luxury and upper upscale hotels. It the company’s second Ritz-Carlton hotel.

August 29, 2018

Acquisitions Arizona Industrial Western

CBRE Global Investors Buys Industrial Center in Arizona for $48.5M

by Amy Works August 29, 2018

PHOENIX — Los Angeles-based CBRE Global Investors Acquisitions has purchased Southwest Industrial Center, an industrial asset located at 7775 W. Buckeye Road in Phoenix. Houston-based Hines sold the property for $48.5 million. Constructed in 2015, the 684,420-square-foot facility features 32-foot clear heights and Class A cross-dock distribution space. Bo Mills, Mark Detmer, Ryan Sitov, Marc Hertzberg and Anthony Lydon of JLL Capital Markets represented the seller in the transaction.

August 29, 2018

Arizona Development Multifamily Western

Evergreen Devco Breaks Ground on 258-Unit Apartment Community in Phoenix

by Amy Works August 29, 2018

PHOENIX — Evergreen Devco has broken ground on Parc at South Mountain, a luxury apartment community located at 3400 E. Southern Ave. in Phoenix. Situated on 10.8 acres, the development will feature 258 garden-style apartment units with wood-inspired plank flooring, quartz countertops and stainless-steel appliances. On-site amenities will include a resort-style pool and spa. The property’s leasing office is slated to open July 2019. The project team includes Todd & Associates as architect; MT Builders as contractor; Kland Civil Engineers as civil engineer; and Collaborative V Design Studio as landscape architect.

August 29, 2018

Acquisitions California Industrial Western

Realty Advisory Group Brokers Sale of 78,600 SF Industrial Asset in San Gabriel Valley

by Amy Works August 29, 2018

CITY OF INDUSTRY, CALIF. — Realty Advisory Group has arranged the sale of an industrial property located at 15250 Don Julian Road in City of Industry. Cordia Capital Management acquired the 78,600-square-foot property for an undisclosed price. Situated on 3.8 acres, the facility features 25-foot to 29-foot ceiling heights, seven dock-height positions and future divisibility. At the time of sale, Golden West Packaging Group fully occupied the property. Mark Repstad and John Repstad of Realty Advisory Group represented the undisclosed seller and the buyer in the transaction.

August 29, 2018

Acquisitions California Multifamily Western

Levin Johnston Arranges $7.6M Acquisition of Multifamily Community in Santa Clara, California

by Amy Works August 29, 2018

SANTA CLARA, CALIF. — Levin Johnston of Marcus & Millichap has negotiated the purchase of Claddagh Apartments, a multifamily property located at 1408 Reeve St. in Santa Clara. A local apartment group acquired the asset from an undisclosed seller for $7.6 million. Constructed in 1958, the property features 20 apartments in a mix of one- and two-bedroom layouts, a community pool, on-site laundry and covered parking. The buyer plans to reposition and renovate the property. Levin Johnston represented the buyer in the deal.

August 29, 2018

Acquisitions Arizona Multifamily Western

Tonti Properties Sells 173-Unit Multifamily Community in Arizona for $22.5M

by Amy Works August 28, 2018

TEMPE, ARIZ. — Tonti Properties has sold Wilshire Pines, a multifamily property located at 208 E. Baseline Road in Temple. Sheiner Group acquired the asset for $22.5 million. Built in 1979, the property features 173 apartment units. Steve Gebing of Institutional Property Advisors (IPA), a division of Marcus & Millichap, and Cliff David of Marcus & Millichap represented the seller and procured the buyer in the deal.

August 28, 2018

Acquisitions Mixed-Use Multifamily Nevada Retail Western

Northcap Commercial Brokers $11.5M Sale of Mixed-Use Asset in Las Vegas

by Amy Works August 28, 2018

LAS VEGAS — Northcap Commercial Multifamily has negotiated the sale of Desert Manor, a mixed-use asset located on an entire city block at 629 S. Main St. in Las Vegas. An undisclosed buyer acquired the property for $11.5 million. The sale consisted of 191 multifamily units, 6,364 square feet of retail space and 0.89 acres of land. Devin Lee of Northcap Multifamily represented the seller, 1060 Broadway LLC, in the deal.

August 28, 2018

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