| Safco Capital Corp Spends $25 Mil on Purchase of West Hollywood Gelson’s Market
Safco Capital Corporation closed on the acquisition of a 17.8k sf Gelson’s Market property in West Hollywood, in a sale-leaseback transaction worth $25.25 mil. The property was sold by Mayfair Realty Inc, an operating compan...
| Commercial Real Estate Financing Briefs
GEORGE SMITH PARTNERS - Shahin Yazdi, Jonathan Lee, David Stepanchak, Matthew Kirisits, Olga Alworth and Samuel Sarshar with George Smith Partners arranged $9.65 mil in financing for the purchase of a 95-unit multifamily pro...
| Exchange Investor Buys 84k sf Office Property in La Mirada
Milan Capital Management has purchased an 84k sf office property in La Mirada, in a 1031 exchange deal worth $13.64 mil ($162/sf). The property was sold by Saunders Property Company, a Newport Beach-based real estate company....
| DeBartolo Refinances New San Antonio Res Project with $58 Mil Bridge Loan
DeBartolo Development has obtained $58.4 mil in bridge on Infinity at the Rim apartments, a new 310-unit multifamily project in San Antonio. The loan, arranged by Greystone, will enable DeBartolo to pay off the initial constr...
| Draftsmen & Craftsmen
Work has just wrapped up on the Braille Institute Anaheim Center, a 14.7k sf building on the institute’s existing campus. The new state-of-the-art building replaces the institute’s former multi-structure facility and provides...
| LGE Design Build and Clarius Partners Break Ground on AZ Biz Park
Phoenix-based LGE Design Build, in partnership with Clarius Partners LLC, has broken ground on The HUB at Goodyear in Phoenix’s West Valley. Totaling 791k sf, the project is designed to satisfy the strong demand for warehouse...
| Excelsior Partners Closes $11 Mil South Bay Office Buy
A 49.3k sf office building in Torrance was purchased by Excelsior Partners in an $11.3 mil ($229/sf) deal. The building, located at 3520 Challenger St, east of Hawthorne Blvd and north of Del Amo Blvd, was sold by Fairway LLC...
| Hines Acquires 49 Acres Outside of Salt Lake City for Development
Hines has acquired a 49.5-acre acre property in West Valley City, UT, just outside of Salt Lake City. The firm plans to develop 201 Mountain View Park (“201 MVP”), a single-phased Class A industrial/logistics park, on the sit...
| Silicon Valley Office Campus Trades Hands
Orchard Corporate Center, a newly constructed, 101.4k sf Class A office/R&D campus in North San Jose, was purchased by a private investor. Constructed in 2018, the one- and two-story office/R&D buildings are situated on 5.3 a...
| RAF Pacifica Group Spends $36 Mil on Two Acquisitions in Carlsbad
RAF Pacifica Group has purchased two high quality properties in Carlsbad – one office and the other industrial – in separate deals totaling $36.3 mil. The sales were for Avenida Crossing, a newly renovated 68.4k sf creative o...
| New Rialto Industrial Facility Sells for $16 Mil
A newly constructed, 120.6k sf freestanding industrial facility in Rialto sold for $15.9 mil ($132/sf). The facility, located at 1450 Alder Ave, was then leased out to the buyer’s affiliate, Magnolia Foods, a Mira Loma-based ...
| Draftsmen & Craftsmen
The walls have been tilted tilt on East Valley Commerce Center Phase II, a two-building, 363k sf industrial project being developed by Metro Commercial Properties in the heart of Mesa’s US 60 corridor, in Arizona. The work w...
| George Oliver Providing a Home for Modern Office Space Users in Phoenix at CASA
Phoenix-based George Oliver has unveiled plans for its new CASA redevelopment, a 181.2k sf, Class A office building in Phoenix’s booming Uptown neighborhood. The $17 mil renovation will entail converting CASA from a 1989-buil...
| New Pismo Beach Hotel Financed with $26.5 Mil Loan
Sonnenblick-Eichner Company has arranged a $26.5 mil interim refi loan on Inn at the Pier, a new 104-room, full-service luxury boutique hotel located one-half block from the Pacific Ocean in the heart of Pismo Beach, CA.
| EnVen Energy Takes 57k sf at Houston Office Tower
EnVen Energy Corporation signed an 11-year lease for 57.1k sf of space at 609 Main at Texas, a 48-story, 1.07 msf office tower in downtown Houston. The independent oil and natural gas firm will relocate to the building this f...
| Local Buyer Picks Up 83k sf Goleta Building Occupied by Northrop Grumman Innvation Systems
An 83.5k sf building located at 600 Pine Ave in Goleta was acquired by a local buyer. The building is fully leased by Northrop Grumman Innvation Systems (formerly Orbital ATK) until 2025. Although we don’t have the final sale...
| Oxygen Hospitality Group Inc Buys 160-Room Phoenix Hotel Property
Oxygen Hospitality Group Inc has acquired Wyndham Garden Phoenix Midtown, a six-story, 160-room hotel property. The property is located just north of the burgeoning Phoenix downtown area, off the city’s main thoroughfare of C...
| AZ Biz Campus Gets New Owner in $63 Mil Deal
A fund managed by Los Angeles-based Oaktree Capital Management L.P. purchased Rio West Business Park, a five-building, 296.7k sf property in Tempe, AZ, for $63.35 mil ($214/sf). The property, located at 1621-2021 W. Rio Sala...
| OC Biz Park Trades in $22 Mil Transaction
Alere Property Group paid $21.95 mil for North Orange Industrial Park, a 139k sf ($158/sf) industrial business park in the city of Orange, in an off-market transaction. The property is located at 1481-1497 N. Main St and 1203...
| Newly Built Arizona Hotel Secures $40 Mil in Financing
Tucson Urban has obtained $40 mil in structured financing for the newly-built AC Marriott in Tucson, AZ. The loan was arranged by Walker & Dunlop Inc.
Completed in the fall of 2017, the eight-story, 136-key property marks th...