| Holualoa Companies Picks Up 552-Bed Student Housing Asset in Tucson
Holualoa Companies of Tucson has acquired Gateway at Tucson, a 188-unit, 552-bed, Class A student housing community, for $12.9 mil. The asset, located at 2800 W. Broadway Blvd in Tucson, was sold by CW Capital Asset Managemen...
| San Pedro Res Property Gets a New Owner in $20 Mil Transaction
Bayridge Apartment Homes, a 60-unit, garden-style condo-mapped multifamily community in San Pedro, has sold for $20.5 mil ($342k/unit). The property was purchased by CA-based Manchester Square 2 LLC.
Located at 1099 W. Capit...
| AZ RV/Boat Storage Facility Sells in $7.5 Mil Transaction
RV Harbor, a 421-space canopy RV and boat storage facility in Surprise, AZ, sold for $7.5 mil. Built in 2003, the property is located at 13516 W. Foxfire Drive.
RV Harbor is currently 90.5% occupied. Unlike most other RV and...
| Vernon Warehouse/Manufacturing Facility Goes for $24.5 Mil
A vacant 116.5k sf, Class A warehouse/manufacturing building in Vernon sold for $24.52 mil, or $210/sf. Vernon, an industrial city of just 5.2 square miles, is located several miles to the southeast of downtown Los Angeles.
| Cohen Asset Management Buys 1.3 msf of Dallas Industrial Properties
Cohen Asset Management Inc purchased two Class A industrial properties totaling 1.33 msf in Dallas’ Pinnacle Industrial Park. The properties were 100% leased at the time of the sale.
Pinnacle Park I, at 3700 Pinnacle Point ...
| Investors are Getting Hesperical about Land in this High Desert City
Four parcels of prime commercial land totaling 15 +/- acres in Hesperia have sold for for $4.3 mil. The City of Hesperia is the gateway to the High Desert region, which is one of the fastest growing areas of Southern Califor...
| Penumbra Leases 157k sf of Office Space in the Sacramento Area
Penumbra, a global healthcare company, has signed a new lease for 157.5k sf of Class A office space at 630 Roseville Pkwy, within Roseville Innovation Park in Roseville. Terms of the lease were not disclosed.
Located on Foot...
| AZ Office Asset Goes for $51/sf
Denver-based Bow River Capital Partners purchased Grand Central Tower, a 284.7k sf, transit-oriented office tower in Phoenix, for $14.65 mil ($51/sf). The 20-story building is located at 3550 N. Central Ave, in the city’s cen...
| Nevada Office Property Trades for $7 Mil
A private investor paid $7 mil for Gibson Tech Center, a 30k sf office building in Henderson, NV. The asset, located at 168 North Gibson Rd, was sold by MCA Realty, who acquired the property in late 2016 for $3.15 mil.
| Investor Spends $9.3 Mil on Two Phoenix Self-Storage Properties
Irvine-based Westport Peoria Phoenix Self Storage LLC purchased two U.S. Storage Centers in Phoenix for $9.34 mil.The properties, located at 19315 N. 83rd Ave and 2331 W. Indian School Rd, were sold by Phoenix-based Orsett St...
| Work Started on 1.26 msf Inland Empire Industrial Facility
Panattoni Development Company Inc, in partnership with PGIM Real Estate, has started construction on Building 1, a free standing 1.26 msf industrial building at the Rialto Fulfillment Center. The property is located at 3520 S...
| Value-Add Office Opportunity in Phoenix Goes for $69/sf
In Phoenix, a two-story, 29.5k sf office building traded for $2.05 mil ($69/sf). The building – Royal Suites Park – is located at 3233 West Peoria Ave.
We’re told this was a value-add sale of a 75% percent occupied building....
| Draftsmen & Craftsmen
Work has started on a new $23 mil, student union at Vanguard University in Costa Mesa. The 35k sf building, which will serve the immediate needs of the university’s current enrollment and provide additional space to accommoda...
| Rescore Property Corp Secures Construction Financing for 364-Unit Res Project in L.A.’s Koreatown
Rescore Property Corp has obtained $153.75 mil in construction financing for Rise Koreatown, a seven-story, Class A multifamily property located just off Wilshire Blvd in Los Angeles. The loan was arranged by Walker & Dunlop ...
| Commercial Real Estate Financing Briefs
HFF - Greg Brown and AJ Manas with HFF arranged $26.65 mil in refinancing of a 19-property, 245-bed student housing portfolio near the campus of The University of Southern California (USC) in Los Angeles. The portfolio is loc...
| G2 Capital Makes $11 Mil Phoenix Office Buy
G2 Capital closed on a two-building, 136k sf office buy in Phoenix for $10.9 mil ($80/sf). The buildings, located at 3925 – 3945 E. Broadway Rd, were sold by Glasir Capital Partners just 30 days after they purchased the prope...
| Oakland Apartment Development Recapitalized with $44 Mil in Joint-Venture Equity and Debt
Holliday Development has recapitalized The Union, a 110-unit apartment development located in an opportunity zone adjacent to the West Oakland BART Station, with $44 mil that was arranged by Highland Realty Capital. The fundi...
| Pole Capital USA Pays $42.5 Mil for Irvine Shopping Center
Pole Capital USA, the U.S. division of a Singaporean real estate investment company, recently acquired Jamboree Promenade, a 56.9k sf shopping center in Irvine, for $42.5 mil in an all-cash deal. The asset was later financed ...
| Capstone Advisors Spends $6.6 Mil on AZ Industrial Asset
Capstone Advisors paid $6.64 mil for First Rose Garden Commerce Center, two multi-tenant industrial buildings totaling 73.3k sf ($91/sf) in Phoenix.
First Rose Garden Commerce Center is located at 21002 N. 19th Ave and 1950 ...
| Draftsmen & Craftsmen
Construction is finished on AMP&RSAND, a 330k sf, Class A creative office center located on San Diego Union-Tribune’s former headquarters in the Mission Valley area of San Diego. The project, a development of Casey Brown Comp...