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Dedeaux-TRCC-Tejon-Ranch-CA
CaliforniaDevelopmentIndustrialWestern

Dedeaux Properties to Develop 510,500 SF Warehouse at TRCC in Tejon Ranch, California

by Amy Works

TEJON RANCH, CALIF. — Tejon Ranch Co. has signed a joint venture agreement with Dedeaux Properties to develop and lease a 510,500-square-foot, industrial warehouse at Tejon Ranch Commerce Center (TRCC) in Tejon Ranch. TRCC is a mixed-use master-planned community that operates as a logistics hub serving all of California and the western United States. The facility will be located on 25 acres just east of Interstate 5. The Class A warehouse will offer Class A divisible cross-dock space with 185-foot truck courts and 36-foot clear heights. Mac Hewett, Mike McCrary and Brent Weirick of JLL will serve as listing agents for the industrial facility. As master developer of TRCC, Tejon has realized 8.2 million square feet of industrial development with an additional 11.1 million square feet of entitled property remaining. TRCC also has 674,000 square feet of existing commercial development, including the Outlets at Tejon. Tejon Ranch Co.’s first residential offering, the 228-unit first phase of Terra Vista at Tejon, a 495-unit apartment community, will open in spring 2025.

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Ascend-Apts-Milpitas-CA
AcquisitionsCaliforniaMultifamilyWestern

CBRE Facilitates Sale of 266-Unit Ascend Apartments in Milpitas, California

by Amy Works

MILPITAS, CALIF. — CBRE has arranged the sale of Ascend Apartments, a multifamily community in Silicon Valley. Keith Manson of CBRE represented the buyer in the off-market transaction. Details of the deal were not released. Located at 1821 S. Milpitas Blvd. in Milpitas, Ascend Apartments features 266 studio, one- and two-bedroom floor plans, courtyards, a rooftop terrace with a skyline swimming pool and spa and a fitness center with an outdoor yoga lounge. Built in 2021, the community is situated across from the Milpitas BART and VTA Light Rail stations.

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1257-Park-St-Alameda-CA
AcquisitionsCaliforniaRestaurantRetailWestern

CalBay Development Sells Jack in the Box-Occupied Restaurant Building in Alameda, California for $4M

by Amy Works

ALAMEDA, CALIF. — CalBay Development has completed the sale of a single-tenant restaurant property in Alameda to a Thousand Oaks, Calif.-based private investor for $4 million. Jack in the Box occupies the 2,583-square-foot building, which includes a drive-thru. Located at 1257 Park St., the property was originally renovated in 1991. Bill Asher, Jeremy McChesney and Jeff Lefko of Hanley Investment Group, along with Cherie Huillade of Colliers, represented the seller in the deal. Jake Kim of Westlake Village, Calif.-based Pinnacle Estate Properties represented the buyer.

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8727-Tampa-Ave-Northridge-CA
AcquisitionsCaliforniaOfficeRetailWestern

Coldwell Banker Brokers Sale of 10,000 SF Office Building in Northridge, California

by Amy Works

NORTHRIDGE, CALIF. — Coldwell Banker Commercial Quality Properties has arranged the $2.6 million sale of a 10,000-square-foot, multi-tenant office and retail property located at 8727 Tampa Ave. in Northridge, about 25 miles northwest of Los Angeles. Arthur Pfefferman of Coldwell Banker Commercial Quality Properties represented the seller, a law firm, in the transaction. The name of the buyer was not released.

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11193-Emerald-St-Boise-ID
IdahoIndustrialMarket ReportsWesternWestern Market Reports

Boise’s Industrial Market Boasts Strong Fundamentals, but Challenges Continue

by Jeff Shaw

— By Devin Pierce, industrial specialist, TOK Commercial in Boise — In recent years, Boise’s industrial market has become a focal point for investors and developers drawn to the region’s economic growth and location. With demand for industrial space on the rise, the market has experienced an unprecedented wave of new construction aimed at meeting the needs of both local businesses and national tenants looking to expand their operations.  This surge in development activity reflects Boise’s growing prominence as a logistics and manufacturing hub. However, as new projects come online, the market is also grappling with the challenges of balancing supply and demand, particularly in the wake of fluctuating economic conditions. Speculative Construction Drives Vacancy Surge Boise’s industrial market saw a considerable number of projects completed during the first half of 2024, with more than 2.2 million square feet of new construction delivered. Speculative construction accounted for more than 86 percent of these projects, totaling nearly 2 million square feet and marking a record high for mid-year.  Top spec projects included nearly 1 million square feet at Red River Logistics Center; three new buildings (totaling 292,000 square feet) at Park84 in Nampa; and 396,000 square feet at Sky Ranch Logistics. This …

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CaliforniaDevelopmentOfficeWestern

CIM Group Delivers 55,673 SF Creative Office Building in Los Angeles

by Amy Works

LOS ANGELES — CIM Group has completed construction of a three-story creative office building at 3000 Crenshaw Blvd. in Los Angeles. The 55,673-square-foot building offers flexible design options with 12.5-foot ceiling heights and large operable windows. The property offers two levels of below-grade parking, a variety of outdoor spaces, including private balconies on all floors, glass garage doors opening to a private outdoor patio on the third floor and a communal landscaped rooftop deck.

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Volta-Voyager-Colorado-Springs-CO
ColoradoLoansMultifamilyWestern

Dwight Capital Provides $38.4M Loan for Volta at Voyager Apartments in Colorado Springs

by Amy Works

COLORADO SPRINGS, COLO. — Dwight Capital has closed a $38.4 million HUD 223(f) loan for the refinancing of Volta at Voyager, a multifamily property in Colorado Springs. Brandon Baksh and Brian Yee of Dwight Capital originated the financing on behalf of the borrower, Boulder-based Mountain View Capital LLC. The refinancing benefited from a Green Mortgage Insurance Premium (MIP) reduction to 25 basis points, enhancing the financial terms. Comprising 10 three-story residential buildings, Volta at Voyager offers 200 one-, two- and three-bedroom apartments, a fitness center, Amazon lockers, a dog spa and park, swimming pool and spa and a resort-style clubhouse.

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8146-Sweetbrier-Ln-SE-Lacey-WA
AcquisitionsMultifamilyWashingtonWestern

TMR Acquires 182-Unit Multifamily Property in Lacey, Washington

by Amy Works

LACEY, WASH. — TMR Investments has purchased The Village at Union Mills, an apartment property located at 8146 Sweetbrier Lane SE in Lacey. Terms of the transaction were not released. The Village at Union Mills offers 182 apartments. TMR has budgeted $4.1 million to execute a value-add repositioning strategy for the property. The planned investments include enhancements to the fitness center, clubhouse and outdoor amenity spaces, the addition of electric vehicle charging stations and rebranding. Planned interior unit renovations include the addition of stainless steel appliances, stone countertops and contemporary lighting and hardware.

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2025-2035-NE-Cornelius-Pass-Rd-Hillsboro-OR
LoansOfficeOregonWestern

Gantry Secures $9.5M Acquisition Loan for Office Campus in Hillsboro, Oregon

by Amy Works

HILLSBORO, ORE. — Gantry has secured a $9.5 million loan for the acquisition of a mid-rise office campus in Hillsboro, a suburb of Portland. The borrower, a Los Angeles-based private investor, acquired the asset for $17 million. Situated on 17.7 acres, the campus features two five-story buildings offering a total of 226,000 square feet. The office campus is located at 2025 and 2035 N.E. Cornelius Pass Road. Mark Ritchie and Keegan Bridges of Gantry secured the fixed-rate, interest-only loan through one of the firm’s correspondent insurance company lenders.

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CaliforniaHealthcareLeasing ActivityRetailWestern

Progressive Real Estate Partners Negotiates 3,080 SF Retail Lease for Lifestream Blood Bank in Moreno Valley, California

by Amy Works

MORENO VALLEY, CALIF. — Progressive Real Estate Partners has negotiated a medical/retail lease for Lifestream Blood Bank to occupy space at 24199 Hemlock Ave. in Moreno Valley. Paul Su of Progressive Real Estate Partners represented the tenant in the transaction. Lifestream Blood Bank signed a 10-year lease for 3,080 square feet of end-cap space within District at Moreno Valley shopping center. The blood bank is slated to open by summer 2025.

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