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Echelon-Business-Park-City-of-Industry-CA

DAUM Commercial Brokers Sales of Seven Industrial Properties in Southern California for $50M

by Amy Works July 19, 2018

CITY OF INDUSTRY, CALIF. — DAUM Commercial Real Estate Services has brokered the individual sales of seven buildings that comprise Echelon Business Park, a newly constructed industrial campus in City of Industry. Los Angeles-based Dedeaux Properties sold the assets for a total of $50 million. Located at 801-821 Echelon Court, the freestanding buildings range in size from 27,438 square feet to 43,166 square feet. The properties feature ample dock-high and ground-level loading, large truck courts, ESFR sprinklers, high-speed fiber optic cabling and two-story office space. Dennis Sandoval, Robert Dipre, Bryan Sandoval and Kurt Yacko of DAUM represented the seller in the transactions. The names of the buyers were not released.

July 19, 2018

Acquisitions Multifamily Oregon Western

Security Properties Buys 228-Unit Multifamily Community in Oregon for $45.5M

by Amy Works July 19, 2018

BEND, ORE. — Security Properties and a university endowment have purchased Seasons at Farmington, a multifamily community located in Bend’s Old Farm District. An undisclosed seller sold the property for $45.5 million. The property features 228 apartments in a mix of one- and two-bedroom layouts, swimming pool, clubhouse with lounging areas and a fitness center, dog park, and outdoor fire pit. This transaction is Security Properties’ first acquisition in Bend. Security Properties Residential, an affiliate of the buyer, will manage the community.

July 19, 2018

Acquisitions Colorado Retail Western

LIG, Hanley Investment Negotiate $3.2M Sale of Retail Center in Metro Denver

by Amy Works July 19, 2018

WESTMINSTER, COLO. — Legend Investment Group (LIG), a division of Legend Partners, and Hanley Investment Group Real Estate Advisors have arranged the sale of a retail strip center located at 13591 Huron St. in Westminster, a northwest suburb of Denver. An East Coast-based private investor acquired the property from Redlands, Calif.-based Mark Development for $3.2 million, or $603 per square foot. At the time of sale, the 5,389-square-foot property was fully occupied by Dunkin’ Donuts, Bank of America and Huron Liquor. Built in 2016, the retail center is situated on 1.1 acres within the Quail Crossing Commercial subdivision. LIG and Peter Peluso of Legend Partners represented the buyer in the deal, while Jeff Lefko, Bill Asher and Jeremy McChesney of Hanley Investment Group Real Estate Advisors represented the seller.

July 19, 2018

California Loans Retail Western

MetLife, Northwestern Mutual Provide $450M Refinancing for Broadway Plaza in California

by Amy Works July 18, 2018

WALNUT CREEK, CALIF. — MetLife Investment Management and Northwestern Mutual have provided a $450 million, fixed-rate loan for Broadway Plaza, a 958,000-square-foot, open-air retail center in Walnut Creek. The 12-year loan was provided on behalf of the property owner, a joint venture between The Macerich Co. and Northwestern Mutual. Broadway Center, which originally opened in 1951, underwent a renovation in 2014 that more than doubled the shopping center space, adding more than 50 new retailers. The center is 98 percent leased and anchored by Nordstrom, Neiman Marcus and Macy’s. Additional tenants include Aldo, LUSH, Madewell, lululemon athletica, Nespresso, Zara, Kate Spade and Sephora, among others.

July 18, 2018

Acquisitions California Self-Storage Western

Levin Johnston Arranges $25M Sale of Two Self-Storage Facilities in Silicon Valley

by Amy Works July 18, 2018

LOS GATOS, CALIF — Levin Johnston of Marcus & Millichap has arranged the sale of two institutional-quality self-storage facilities located at 688 University Ave. and 17443 Farley Road West in Los Gatos within California’s Silicon Valley. A private high-net-worth family acquired the assets for $25 million. Constructed in 1999 and 2005, the Stor’ It Los Gatos facilities feature a total of 785 self-storage units, ranging from 25 square feet to 300 square feet, and in a mix of climate-controlled and standard unit offerings. At the time of sale, the 45,287-square-foot asset was 84 percent occupied. Adam Levin of Levin Johnston and Jacob Becher of Marcus & Millichap represented the buyer and the seller, a private high-net-worth individual, in the deal.

July 18, 2018

Acquisitions Arizona Hospitality Western

Byrd Hotel Group Completes $20M Sale-Leaseback of Four Hotels in Metro Phoenix

by Amy Works July 18, 2018

GOODYEAR, ARIZ. — Byrd Hotel Group has completed the sale-leaseback of four hotel properties in Goodyear. Florida-based Kawa Capital Management acquired the properties for $20 million. The properties are the 90-room Red Lion Inn & Suites at 1313 N. Litchfield Road, the 110-guestroom Hampton Inn & Suites at 2000 N. Litchfield Road, the 100-key Holiday Inn & Suites at 1188 N. Dysart Road and the 78-suite Residence Inn at 2020 N. Litchfield Road. The four limited- and full-service hotels contain a total of 441,967 square feet of space on approximately 10.1 acres. Jon Grantham and James Meng of Colliers International’s Greater Phoenix office represented the seller, while Kawa Capital was self-represented in the transaction.

July 18, 2018

Acquisitions Arizona Industrial Western

Golden Eagle Distributors Sells Industrial Building in Tucson for $13.3M

by Amy Works July 18, 2018

TUCSON, ARIZ. — Golden Eagle Distributors, a Tucson-based beer distributor, has completed the sale of a 161,212-square-foot industrial building located at 705 E. Ajo Way in Tucson. 6455 Box Springs Blvd. LLC purchased the property for $13.3 million. Stephen Cohen and Michael Hammond of Cushman & Wakefield | PICOR represented the seller, while Art Day of CBRE represented the buyer in the transaction.

July 18, 2018

Acquisitions California Office Western

Colliers Brokers $4.1M Sale of Office Property in Hollywood

by Amy Works July 18, 2018

LOS ANGELES — Colliers International has negotiated the sale of a creative office property located at 6507-6509 De Longpre Ave. in Hollywood. Weinandroses LLC sold the property for $4.1 million, or $949 per square foot. The 4,320-square-foot asset includes an office building and a private writer’s bungalow. Formerly occupied by Go Film, a commercial and television production company, the property features private gated parking and a fully wired security/sound system. Nathan Pellow and Patrick Moody of Colliers’ Los Angeles office represented the seller. The name of the buyer was not released.

July 18, 2018

Acquisitions California Hospitality Western

Mani Brothers Real Estate Acquires 205-Room Hotel in Napa Valley

by Amy Works July 17, 2018

NAPA, CALIF. — Mani Brothers Real Estate Group has purchased the Embassy Suites by Hilton Napa Valley, located at 1075 California Blvd. in Napa, for an undisclosed price. The seller was RLJ Lodging Trust. The buyer plans to convert the 205-room hotel into a Curio Collection property, complete with a refurbishment and overall renovation of the existing property. Upgrades will include a redesign of all guest rooms and restaurant spaces, addition of a full-service space, new pools and a 54-room expansion. Situated on more than eight acres, the property features over 10,000 square feet of indoor and outdoor event space, including a rose garden, chef’s garden, fire pits, mill pond with resident swans and year-round pool.

July 17, 2018

Acquisitions California Retail Western

Kidder Mathews Arranges Sale of Four-Building Retail Property in California’s Central Valley

by Amy Works July 17, 2018

VISALIA, CALIF. — Kidder Mathews has brokered the sale of The Shops at Visalia Pavilion, located at 3833, 3837, 3927 and 4015 W. Caldwell Ave. in Visalia. Toor Capital purchased the four-building property for $8.7 million. At the time of sale, the 33,000-square-foot asset was 95 percent occupied by a variety of tenants, including Starbucks Coffee, T-Mobile and Papa Murphy’s Pizza. Peter Beauchamp, Darren Tappen and Jenette Bennett of Kidder Mathews represented the seller, a New York-based private equity firm, in the deal.

July 17, 2018

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