| Nearon Enterprises Picks Up 155k sf Distribution Facility in Tracy, CA
In a NoCal industrial acquisition, Nearon Enterprises purchased Eastgate Business Park, a 155k sf property in Tracy, about 20 miles southwest of Stockton. The price was not disclosed.
Located at 1447 Mariani Ct, the property...
| Greenlight Communities Secures $23 Mil in Financing for Phoenix Res Development
Greenlight Communities has obtained $22.9 mil in financing for the development of Cabana on 99th, a 286-unit, garden-style multi-housing project in Phoenix’s Glendale submarket. The financing, arranged by Bryan Clark, Brad Mi...
| Sorrento Mesa Life Science Property Sales Total $17 Mil
We’ve learned of four recent transactions totaling about $17 mil in San Diego to share with you. The properties are all located in the thriving life science submarket of Sorrento Mesa and all closed within a three-week period...
| NoCal Investor Pays Nearly $1,200/sf for Bay Area Retail Center
Shops at El Camino Real, an 8k sf retail center in the Bay Area city of Belmont, sold for $9.55 mil ($1,194/sf).The property is fully occupied by six tenants including Peet’s Coffee & Tea, Detox Kitchen & Juice Bar, Menchie’s...
| Draftsmen & Craftsmen
The Southwest Division of Graycor Construction Company has been selected as the general contractor for Phase I of Glendale 303 (G303), a Class A industrial development that, at build-out, will total up to 1.2 msf. The project...
| Heritage Auctions Inks Deal for Global HQ Location in Dallas
Heritage Auctions has leased a new state-of-the-art, 160k sf facility and multi-purpose campus in Dallas as its new global headquarters. The facility, located at 2801 W. Airport Fwy, features an 8k sf gallery showroom for inv...
| Cush Enterprises Invests $30 Mil in the Scottsdale Office Market
San Diego-based Cush Enterprises closed on an AZ office buy, picking up Perimeter Parkview Corporate Center, a 105k sf, Class A asset in north Scottsdale. The building, located at 8377 East Hartford Dr, traded for approximate...
| Prometheus Real Estate Acquires Silicon Valley Res Asset
Prometheus Real Estate has closed on a sizable Silicon Valley multifamily acquisition, paying about $70 mil for Gardens of Fontainbleu, a 125-unit ($560k/unit) complex in Cupertino. The property is located at located at 10200...
| Chicago Entity Spends $7.65 Mil on Phoenix Single-Tenant Office Asset
A 61.3k sf, single-tenant office building in Phoenix traded for $7.65 mil, or $125/sf. The property, located at 16212 N. 28th Ave, was purchased by a fund managed by a Chicago-based investment management firm.
Situated on 3....
| CapRock Partners Completes Second Closing of CapRock Partners Industrial Value-Add Fund III
CapRock Partners has closed a first and subsequent second closing of CapRock Partners Industrial Value-Add Fund III, totaling more than $180 mil of committed capital in the fund and co-investment vehicles. The firm’s fifth fu...
| Local Investor Spends $26.8 Mil on Bay Area Multifamily Asset
The Lakes, a 102-unit value-add multifamily community in the Bay Area city of Concord, was acquired by an Atherton-based family investment group in a $26.8 mil transaction, which works out to around $263k/unit.
| Legacy Homes Lands $86 Mil Refi on NoCal Res Community
Legacy Homes has obtained an $86.2 mil Freddie Mac refi loan on Aspire Apartments, a 348-unit apartment community in Tracy, a NoCal city roughly 20 miles southwest of Stockton. Aspire Apartments is located at 2725 Pavilion Pk...
| Creative Office Property in Scottsdale Airpark Trades in $8.5 Mil Deal
A 39.5k sf creative office property and airplane hangar in the Scottsdale Airpark sold for $8.53 mil ($216/sf). The asset, located at 7350 E. Evans Rd, was acquired by Los Angeles-based Route 66 Properties LLC as part of a 10...
| Community Preservation Partners and The Hampstead Companies Undertake $26 Mil Affordable Housing Rehabilitation Project in Montana
Community Preservation Partners (CPP), in a partnership with The Hampstead Companies, has acquired its first property in Montana – the Ponderosa Acres Apartments located in Billings. The purchase is the first step in a rehabi...
| Westcore Closes $40 Mil Oakland Buy
Westcore acquired a 155k sf, Class A industrial warehouse in Oakland for $40.5 mil ($261/sf). The property is located at 8380 Pardee Dr, between Doolittle Dr and I-880.
Constructed in 2012, the distribution facility is full...
| OC Private School Campus Trades for $22.75 Mil
Fairmont Private Schools, an Orange County-based private institution, acquired a private school campus in San Juan Capistrano in a $22.75 mil transaction. The property was sold by Saddleback Valley Christian.
Located at 2633...
| Escondido Dev Site Trades Hands
The Ivy, a one-acre site in downtown Escondido that has already been entitled for a proposed multifamily development, has traded hands. The Ivy is anticipated to consist of 127 new residential units comprising studio-, one- a...
| Monterey County Farm Property Trades for $3 Mil
Rowe Ranch, an approximately 50-acre farm property located in the Pajaro Valley farming region of Monterey County, in California’s Central Coast, was acquired by The Lukrich Trust for $3 mil. The buyer is a local family whic...
| Kennedy Wilson and Fairfax Financial Holdings Limited Team Up in Venture to Acquire First Mortgage Loans
Kennedy Wilson has formed a $2 bil platform with Fairfax Financial Holdings Limited that will pursue first mortgage loans secured by high-quality real estate in the Western U.S., Ireland and the U.K. In its role as asset mana...
| Draftsmen & Craftsmen
Menifee Union School District has broken ground on a reconstruction project for Menifee Valley Middle School. The $38 mil, 71.3k sf project, which will help transition the campus to a magnet school focused on visual and perfo...