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June 10, 2023
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Washington Office Building Purchased by Intracorp Venture for $18 Mil
Bellevue structure sits on a 3.66-acre parcel

Empire Group Obtains $120 Mil in Financing on Two AZ Build-to-Rent Projects
Tower Capital arranges the financing on the two Phoenix-area developments

Rockefeller Group Acquires Two Res Development Sites in Arizona
The firm expects to develop 152 build-to-rent units on the properties

CapRock Partners Wraps Up Work on Two Inland Empire Industrial Projects
Palomino Ranch Business Park Phase I and Saddle Ranch South add over 1 msf of space in Norco

OC Shopping Center Traded in $36.5 Mil Deal
61k sf Bristol Place purchased by private investor

Madison Capital Group Acquires East Bay R&D Campus in $260 Mil Deal
575k sf Fremont property sold by Seagate Technology

Swenson Receives Approval by Santa Cruz City Council for Mixed-Use Development
Eight-story project will offer 276 res units over ground floor commercial space

Rancho Cucamonga Office Building Trades in $22 Mil Transaction
Buyer to convert the structure to medical office space

Stonelake Capital Partners Wraps Up $18 Mil AZ Industrial Buy
Firm buys 86k sf University Logistics Park in Phoenix

Redevelopment of Burlingame’s Historic Post Office Property Well Underway
Project includes construction of new 185k sf office building and relocation of old post office

29th Street Capital Picks Up 124-Unit Res Asset in Arizona
Firm purchases Solaire on Scottsdale Apartments

Construction of $400 Mil Downtown San Diego Mixed-Use Project Tops Out
37-story West is a development of Holland Partner Group, North America Sekisui House and Lowe

Tempur-Pedic Leases 322k sf AZ Distribution Facility
Tolleson structure was developed by LPC Desert West and Goldman Sachs

MG Properties Wraps Up $61 Mil Res Buy in Washington
Firm pays $321k/unit for Artesia Apartments in Everett

DivcoWest Buys 72k sf Life Science Building in Torrey Pines
Building is fully leased to the California Institute of Biomedical Research

AZ Spec Industrial Facility Traded in $81.7 Mil Transaction
Cohen Asset Management affiliate buys 600k sf Falcon Park 303 - Phase I in Glendale

Ohana Real Estate Acquires the Claremont Hotel & Spa in $163 Mil Transaction
Asset was sold by FRHI Hotels & Resorts and The Blum Group

Thousand Oaks Multifamily Portfolio Hits the Market
Offering is for two communities totaling 399 units

Rockefeller Group Purchases Seven Acres in North Las Vegas for Industrial Development
Plans call for two spec buildings totaling 145k sf

South Bay Office Building Picked Up for $24.75 Mil
Borstein Enterprises affiliate expects Torrance property to benefit from recent conversion plans to industrial of neighboring office properties

Real Estate and Business Icon Sam Zell Passes at 81
Industry giant led many companies and oversaw the growth and sale of Equity Office Properties

Archway Equities Closes $150 Mil Multifamily Buy in the Inland Empire
Firm buys 385-unit The Paseos at Montclair North

Davlyn Investments Closes $67 Mil Res Buy in Las Vegas
Firm renames 252-unit Spectrum as The Michael B Townhomes and Flats

Long Beach Medical Office Building Fetches $29 Mil
69k sf structure sold by Jamison Properties

San Jose Apartment Property Goes for $252k/Unit
61-unit Ranchero Palms had undergone extensive renovations over the years

Work Started on Class A Office Building in Seattle’s University District
266k sf University District Station Building being developed by Lincoln Property Company, Intercontinental Real Estate Corporation, University of Washington and Sound Transit

Ontario Multifamily Asset Trades for $50 Mil
The Landing Apartments fetches $324k/unit

Coronado Plaza Sells for $955/sf
Mixed-use property is located across from the Hotel Del Coronado

InnVest Hotels Buys 189-Room Seattle Asset
Hotel Monaco sold by Pebblebrook Hotel Trust

BKM Capital Partners Closes $25 Mil Purchase of San Fernando Valley Industrial Campus
Firm pays $300/sf for Valley East Industrial Park

Denver Area Res Asset Lands $65 Mil in New Financing
New loan placed on 387-unit Promenade Place in Greenwood Village

Birtcher Development Breaks Ground on 330k sf Distribution Center in Fontana
Project is being done in partnership with Oltmans Construction and Tomorrow’s Talent

Fully Leased R&D Facility in Sunnyvale Hits the Market
75k sf building is occupied by a US-based tech firm

Greystar Real Estate Partners Starts Work on AZ Industrial Park
Three-building Caliber by Greystar is first element of firm’s $500 mil Peoria Place

CRE Industry Icon John C. Cushman III Passes Away
Member of Cushman & Wakefield’s founding family was 82

Commercial Real Estate Financing Briefs
$100 mil in deals from Talonvest Capital, Northmarq and Gantry

Portfolio of Six LA-Area Multifamily Properties Sells in Three Deals Totaling $53.55 Mil
Five of the assets are in the San Fernando Valley while the sixth is in West L.A

Inland Empire Logistics Campus Trades in $325 Mil Transaction
Foreign investor buys 728k sf Corona Lakeside Logistics Center from Kearny Real Estate Company

Latest Signings by DrinkPAk Bring 1.7 msf The Center at Needham Ranch to Fully Leased
Beverage manufacturer takes the final two buildings totaling almost 200k sf

Prologis Inks Weee Deal in Santa Fe Springs
Asian/Hispanic e-grocer leases 147k sf industrial facility

Lincoln Property Company Starts Work on 1.59 msf Vegas-Area Industrial Development
Eight-building Windsor Commerce Park scheduled for completion in third quarter 2024

Watermarke Properties Spends $22.5 Mil on OC Office Building
Acquisition of City Centre I viewed as a multifamily conversion opportunity

Master-Planned 34-Acre Development Site in the Santa Clarita Valley Offered for Sale
The Bluffs at Valencia allocated for 650k sf of commercial space for various uses

575-Key Arizona Hotel Property Trades in $110 Mil Deal
Southwest Value Partners buys JW Marriott Tucson Starr Pass Resort & Spa

Tishman Speyer and San Francisco Giants Begin Leasing Residential Units at First Project 28-Acre Mission Rock Campus
New 23-story res tower offers 283 units with 102 at below market rate

OR Independent Living Facility Trades for $294k/Unit
Inspired Healthcare Capital Spends $35 mil on Crescent Park in Eugene

Trammell Crow Company and JV partner Clarion Partners Receive Approvals for Second Phase of Bay Area Industrial Development
Project will add 328k sf to Fairfield Industrial Center

Redcar Fund Management Closes Second Fund with $418 Mil in Equity Commitments
Firm to expand investment acquisitions into Austin, Texas

Stockdale Capital Partners to Spend $20 Mil Converting Scottsdale Building to Life Sciences Facility
Renovation is of 370k sf Ilume Innovation Center

MG Properties Completes $67 Mil Res Buy in Colorado
Firm buys 204-unit Ridge at Castle Rock Apartments in Castle Rock

Trammell Crow Company and CBRE Investment Management Acquires 192 Acres in Mesa, AZ
Venture to offer shovel-ready development sites to an array of users

Commercial Real Estate Financing Briefs
Recent transactions from Bellwether Enterprise Real Estate Capital, Marcus & Millichap Capital Corporation and Gantry

Sterling Organization Purchases Two Bay Area Retail Assets for $40 Mil
Transaction consists of a retail center and a strip center in Fremont

Rockefeller Group to Develop 415k sf Spec Industrial Project in Surprise, AZ
Firm spends $12 mil on 25-acre parcel for the development

George Urban Advisors, Five Horizons Partners and DRA Advisors Pick Up 851k sf SoCal Industrial Portfolio
Purchase consists of seven properties in Orange and L.A. Counties

Terreno Realty Corporation Closes on 600k sf Industrial Buy in the Bay Area
Purchase is of four-building Morton Commerce Center in Newark

IndiCap and Invesco Begin Construction of 1.5 msf Phoenix Area Industrial Project
Virgin Industrial Park to contain five Class A buildings

Barker Pacific Group and Kingsbarn Realty Capital Pay $82 Mil for 560k sf OC Office Complex
Deal is for two-building Griffin Towers

Mesa, AZ Industrial Project Trades in $25 Mil Transaction
Libitzky Property Companies buys 139k sf Gateway Technology Commerce Center

Los Angeles First Quarter Industrial Leasing Activity Lowest Since 2014
Cushman & Wakefield shares update on the market

Bay Area Life Science Development Pipeline Normalizes
JLL research suggests new development in the sector to slow after a 77% jump in 2022

Meet the Inland Empire Experts from RENTV's State of the Market Conference
Here are pics of the speakers from our recent event.

Ventura County's Industrial Market Struggles with Depleted Supply and Soaring Rents in Q1 2023
NAI Capital Commercial provides update on the market

Office Users Continue to Struggle with Higher Costs, Tight Labor and Supply Chains when Fitting Out Space
Cushman & Wakefield study shows average fit out costs in the Americas up 11% over previous year

Seattle Retail Market Remains Stable
Kidder Mathews provides 1st Quarter update on the market

Phoenix Office Market Slow, But Holding Up Better than Other Cities
Avison Young report shows demand for Class A space remains solid.

Industrial Construction in the Inland Empire Catching Up to Demand
NAI Capital Commercial provides First Quarter Market Outlook for the region

Sacramento Industrial Market Showing Signs of Slowing
Kidder Mathews provides 1st Quarter 2023 update on the market

San Diego Office Leasing Activity Fell to Lowest Level in 15 Years
Kidder Mathews provides 1st Quarter 2023 overview of the market

Houston Office Market Fundamentals Remain Soft but Showing Signs of Improvement
First quarter 2023 report from Avison Young sees increasing demand for Class A space

Commercial Real Estate Vacancy Rates in L.A. County Continue to Rise
Multifamily rents increased, while office, industrial, and retail rents fell, according to NAI Capital Commercial’s CRE Trends report

Orange County and Eastern LA are Two of the Most Competitive Markets for Apartments in California
Report from RentCafe offers comparison of rental markets in the state

Central Washington Ranks Eighth, Seattle Fifteenth for Data Center Leasing in 2022
Washington has some of the lowest power rates in North America per CBRE report

See the Speaker Panels from March 16 OC CRE Conference
Photos of all the industry pros who participated in RENTV's 2023 Orange County State of the Market Conference

San Diego County Medical Office Sector Ends 2022 with Uptick in Activity
Leasing activity up at the close of 2022, while rents continue to rise, according to report from JLL

San Diego Investor Zeros in on AZ Industrial Portfolio
Purchase is of two-buildings totaling 158k sf in Tempe

Schuman Companies Spends $12.3 Mil on South Parcel at Loveland Yards in Colorado
Firm picked up north parcel last year

Recent Signings Bring Denver Business Park to Full Occupancy
Performance Contracting and Empire Today take 137k sf at Eastpark 70 in the city’s Airport submarket

Axle on Demand Pre-Leases 126k sf of Industrial Space at Glendale, AZ Development
Deal fills over half of Building A at Echo Park 303

New AC Hotel by Marriott Gets Underway in Pasadena
194-room project is being built by R.D. Olson Construction for Welcome Group Inc

Concepts Inc Buys 54k sf Phoenix Retail Center
Ahwatukee Mercado is shadow-anchored by Safeway

Recent Spate of Lease Signings Brings Salt Lake City Office Building to 100% Occupancy
Deals are at KBS’ 222 South Main Street

Two CA Central Valley Res Properties Sell in Deals Worth $15.6 Mil
Fresno and Visalia assets total 102 units

Summit Hotel Properties Buys 120-Key Hotel Property in Scottsdale, AZ
Acquisition of Residence Inn by Marriott gives the buyer three hotels in the area

NEXGEN Spends Over $6 Mil on Conejo Valley Life Science/Lab Property
24k sf Newbury Park facility is within the USA Business Park

Portfolio of Nine Properties in Downtown Las Vegas Listed for Sale
Assets are part of the City of Las Vegas Vision 2045 Downtown Masterplan

New 580-Unit Multifamily Development Completed in Salt Lake City
Post District Residences was designed by MVE + Partners

Welcome Group Secures $37 Mil in Construction Money for Pasadena Hotel Project
New 194-key property will operate as an AC by Marriott hotel

Food for the Hungry Takes 30k sf at Renaissance Square in Phoenix
Organization will consolidate three locations in the city into a single corp HQ space

Lowe’s Leases 78k sf at Spec Industrial Project in Texas
Deal is at two-building, 139k sf Landmark at the Meadows in Mesquite

Cypress West Partners Buys 30k sf AZ Medical Office Building
Plans include $3 mil in capital improvements to the property

Bridge Development Breaks Ground on Senior Housing Project in San Diego’s Little Italy Neighborhood
64-unit Kettner Crossing is being built by R.D. Olson Construction

EverWest Real Estate Investors Picks Up 195k sf Industrial Property in Denver’s North Central Submarket
$39 Mil deal is for two-building Central Connection

Vegas Warehouse Facility Sells for $190/sf
19.5k sf property built in 1970 goes for $3.7 mil

Magma Equities and Macquarie Asset Management Entity Buy 285-Unit TX Multifamily Property
Venture acquires Bardin Greene in Arlington

Mark IV Capital Looking to Grow Its Industrial Presence in Five States
Justin Basie named President of Real Estate to oversee this initiative

Ferguson Enterprises Leases New 135k sf Industrial Facility in Thornton, CO
Building is part of 70-acre 25 North campus, currently under construction

WNC Preservation Equity Fund 2 Fully Invested in $229 Mil of Affordable Housing Assets in Six States
$100 mil equity fund closed in May 2022

BKM Capital Partners and TerraCore Capital Buy 88k sf Vegas Industrial Property
Venture spends $26 mil on Decatur Business Center

Kairos Investment Management Company Secures $175 Mil Fannie Mae-Backed Credit Facility
Firm will look for opportunistic multifamily, affordable housing acquisition opportunities

Zippy’s Property Trades in $4.7 Mil Deal
Hawaii single-tenant asset purchased by a local investor

Newly Constructed San Bernardino Res Project Sells for Over $300k/Unit
$21.5 mil deal is for Loma Villas

Covina Investor Spends $39.6 Mil on Trio of SoCal Industrial Properties
Assets traded are located in Carlsbad, Nipomo and Chino

Wood Partners to Develop 650-Unit Multifamily Project in Bastrop, TX
26-acre site is part of 75-acre mixed-use campus being master developed by Pearl River Companies

Historic Renovation/Redevelopment Project Leaves Its Mark in Riverside
Work completed on residential and retail building in city’s historic core

Western U.S. Arby’s Portfolio Trades for $35 Mil
Deal is for 22 properties in Iowa, Montana, North Dakota, Nebraska, and Wisconsin

New 250k sf Building Breaks Ground at SkyBridge Arizona Development in Mesa
Facility is part of 435-acre master-planned campus

Moorpark Site to Be Developed into 200-Unit Affordable Housing Project
Danco to build $146 mil development

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