Western

DSW Commercial Real Estate Acquires 190,022 SF Campbell Plaza Retail Center in Tucson for $33M

by Amy Works October 22, 2018

TUCSON, ARIZ. — DSW Commercial Real Estate, along with Iridius Capital and JCR Capital, has purchased Campbell Plaza, a shopping center located along Campbell Avenue in Tucson. The Krausz Cos. sold the property for $33 million. Albertson’s and Ross Dress for Less are tenants at the 190,022-square-foot, core-plus asset. Mark Lucescu of Lucescu Realty represented the seller, while James Hardman of DSW Commercial Real Estate represented the buyer. Tim Storey of Newmark Realty Capital secured equity and debt financing for the acquisition.

October 22, 2018

Acquisitions Multifamily Washington Western

Colliers Brokers $20M Sale of Tyee, Levere Apartments in Seattle’s University District

by Amy Works October 22, 2018

SEATTLE — Colliers International has arranged the sale of Tyee Apartments and Levere Apartments, two multifamily properties located in Seattle’s University District. Kennedy Tyee LLC and Levere LLC sold the properties to Seattle University District LP for $20 million. The transaction is the first time the assets have traded in more than 50 years. Built in 1963 and located at 4115 Brooklyn Ave. NE, Tyee Apartments features 48 units in a mix of studios and one-bedroom units. Constructed in 1927 and located at 4105 Brooklyn Ave. NE, Levere Apartments offers 40 studio, one- and two-bedroom units. Tim McKay, Dan Chhan, Sam Wayne and Arvin Vander Veen of Colliers International handled the transaction.

October 22, 2018

Mill-Creek-Medical-Pavilion-Mill-Creek-WA

Acquisitions Healthcare Office Washington Western

Coast Equity Partners Sells 26,126 SF Mill Creek Medical Pavilion in Metro Seattle

by Amy Works October 22, 2018

MILL CREEK, WASH. — Coast Equity Partners has completed the sale of Mill Creek Medical Pavilion (MCMP), a medical office building in Mill Creek, a suburb north of Seattle. A private investor acquired the property for $9.5 million. Located at 16030 Bothell Everett Highway, MCMP features 26,126 square feet of medical office space. Built in 1983 and renovated in 2011, the property is fully leased to a variety of healthcare providers, including outpatient services for family medicine, physical therapy, vision care, psychiatry and dentistry. Chris Bodnar and Lee Asher of CBRE’s Denver office, along with Paul Carr, Steve Perovich and Marcus Yamamoto of CBRE Puget Sound Healthcare Properties, represented the seller.

October 22, 2018

Golden-Orchard-Assisted-Living-Littleton-CO

Acquisitions Colorado Multifamily Seniors Housing Western

Haven Senior Investments Negotiates $4.2M Sale of Memory Care Community Near Denver

by Amy Works October 22, 2018

LITTLETON, COLO. — Haven Senior Investments has arranged the sale of Golden Orchard Assisted Living, a 40-bed memory care facility in Littleton. The property was 85 percent occupied at the time of closing and the price was $4.2 million. Neither the buyer nor seller were disclosed. John Hauber, founder of Haven Senior Investments, facilitated the sale. Live Oak Bank provided acquisition financing.

October 22, 2018

Acquisitions Colorado Restaurant Retail Western

Charles Dunn Co. Arranges $3.2M Sale of Restaurant Property in Metro Denver

by Amy Works October 22, 2018

PARKER, COLO. — Charles Dunn Co. has negotiated the sale of a single-tenant restaurant property located at 11179 Pikes Peak Drive in Parker, a suburb 25 miles southeast of Denver. A California-based private investment group sold the property for $3.2 million in a 1031 exchange. Jack in the Box occupies the 2,920-square-foot property and has 12 years remaining on its lease. The buyer plans to hold the asset as a long-term investment with minimal landlord responsibilities. Justin Mendelson and Joshua Berger with Charles Dunn Co.’s restaurant property group, in collaboration with JDS Real Estate, represented both the seller and the undisclosed buyer.

October 22, 2018

California Development Industrial Western

Rockefeller Group Delivers 1.9 MSF of Industrial Product in Inland Empire, Sells Two Buildings Totaling 1.1 MSF

by Amy Works October 19, 2018

PERRIS AND SAN BERNARDINO, CALIF. — Rockefeller Group has completed construction of two projects totaling 1.9 million square feet of industrial space in the Inland Empire. Upon completion, the company sold two of the of four buildings, totaling 1.1 million square feet. Located in Perris, Optimus Logistics Center includes two speculative buildings totaling approximately 1.5 million square feet. Ferguson Enterprises, a U.S. distributor of plumbing supplies, PVF, waterworks and fire and fabrication products, acquired a 1 million-square-foot distribution facility at the center. The company plans to move and expand its Ontario, Calif., operations to the new facility. The move will enhance Ferguson’s distribution capabilities from 600,000 square feet to more than 1 million square feet. Additionally, Rockefeller Group sold an 81,286-square-foot industrial building at Tri-City Industrial Complex in San Bernardino to 4F Capital. Optimus Logistics Center features a 407,000-square-foot building available for sale or lease, and Tri-City Industrial has a 344,249-square-foot property available. Both buildings can be subdivided to approximately 138,000 square feet to accommodate a variety of end-user requirements. Mike McCrary, Peter McWilliams and Sharon Wortmann of JLL represented Rockefeller Group in the Optimus transaction, while Darla Longo, Bill Pellington, Len Santoro, Joey Sugar and Kevin Wille of CBRE …

October 19, 2018

Acquisitions California Retail Western

Lucescu Realty Arranges Sale of 326,608 SF Clovis Commons Shopping Center in California for $45M

by Amy Works October 19, 2018

CLOVIS, CALIF. — Lucescu Realty has brokered the sale of Clovis Commons Shopping Center in Clovis. Brixmor Property Group sold the retail center to an affiliate of a Southern California-based privately held investment and management company for $45 million. Target, Best Buy, T.J. Maxx, PetSmart, Office Depot and Dollar Tree anchor the 326,608-square-foot community shopping center. The five anchor tenants, included in the sale, together occupy approximately 64 percent of the gross leasable area in the center. Additional tenants include Round Table Pizza, Farmer Boys, Massage Envy, Sequoia Sandwich Co., El Pollo Loco, Chronic Taco, Verizon Wireless, Starbucks Coffee, Subway, GameStop, Kumon, Menchie’s, Cost Cutters and GNC. Mark Lucescu of Lucescu Realty represented the seller in the transaction.

October 19, 2018

Colorado Loans Multifamily Western

Hunt Real Estate Capital Provides $39M Loan for Manufactured Housing Community in Boulder, Colorado

by Amy Works October 19, 2018

BOULDER, COLO. — Hunt Real Estate Capital has provided a Fannie Mae conventional multifamily loan in the amount of $39 million to refinance a manufactured housing community in Boulder. The borrower is a diversified real estate investment firm. The 10-year loan has a 30-year amortization and 114-month yield maintenance. Developed in 1970, Boulder Meadows MHC is a 638-unit multifamily/mobile home park community. On-site amenities include a swimming pool, tennis court, playground, clubhouse/recreational building, basketball court, security, leasing office and public water/sewer. At the time of financing, the property was 99 percent leased.

October 19, 2018

California Loans Multifamily Western

Wilshire Skyline Receives $25M in Financing for 82-Unit Line Lofts Apartments in Hollywood

by Amy Works October 19, 2018

LOS ANGELES — Wilshire Skyline has received $25 million in refinancing for The Line Lofts, a newly completed multifamily community in Los Angeles’ Hollywood neighborhood. Mark Wintner of HFF arranged the 10-year, 4.45 percent fixed-rate loan through a correspondent life insurance company for the borrower. Located at 1737 N. Las Palmas Ave., The Line Lofts feature 82 lofts and flats, ranging from 415 square feet to 1,477 square feet, featuring luxury kitchens and baths, double-pane architectural windows, wood-grain plank flooring and atrium-style outdoor balconies. Zoltan Pali of SPF:architects designed the property. Common area amenities include The Sky Lounge, a penthouse-level lounge providing views of the city; The Retreat, an indoor/outdoor recreation center with a kitchen and lofted library, which opens to the outdoor pool and spa deck; The Wellness Spot, a lobby-level gym; and ground-floor retail.

October 19, 2018

Acquisitions Colorado Office Western

NAI Shames Makovsky Negotiates $4.7M Acquisition of Office Building in Denver

by Amy Works October 19, 2018

DENVER — NAI Shames Makovsky has arranged the purchase of an office property located at 1009 Grant St. in Denver. Casa Grande 1009 LLC acquired the property from Credit Union Strategic Partners for $4.7 million. The property features 23,577 square feet of office space. Dorit Fischer and Hayden Hirschfield of NAI Shames Makovsky represented the buyer in the deal.

October 19, 2018

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