| 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...
| Transwestern Development Co and J.P. Morgan Asset Management Acquire 60 Acres Near Sam Houston Race Park
A venture between Transwestern Development Co (TDC) and institutional investors advised by J.P. Morgan Asset Management has acquired a 60-acre, infill site near the Sam Houston Race Park in Northwest Houston. The project, cal...
| Optimus Properties Exchanges $15.75 Mil in Torrance Office Building
Optimus Properties LLC paid $15.75 mil for a 60.8k sf office building in Torrance, as part of a 1031 exchange. The property, located at 2325 Crenshaw Blvd, was sold by an affiliate of Transpacific Development Company.
| Global Medical REIT Spends Over $17 Mil on Inland Empire Medical Office Building
Global Medical REIT paid $17.2 mil for Corona Main Medical Plaza, a 41.8k sf ($411/sf) medical office building in Corona. Constructed in 2009, Corona Medical Plaza is 100% leased and is located at 2250 S Main St, in the heart...
| Hillwood Purchases 350k sf Industrial Development in Austin
Hillwood has acquired Southpark Commerce Center V, a recently completed, 350.2k sf industrial project in Austin, TX. The 50% leased, three-building property is located at 4500 S. Pleasant Valley Rd. The price was not disclose...
| Transwestern Investment Group Picks Up 1.2 msf TX Industrial Property
Transwestern Investment Group acquired a 1.2 msf industrial property in north Fort Worth, TX from DHL Supply Chain, on behalf of one of its separately managed accounts. The price was not disclosed.
Constructed in December 20...
| Bela Flor Communities Obtains $40 Mil in Financing for New AZ Res Community
Bela Flor Communities has landed $40 mil in financing for Bella Victoria, a newly built, 236-unit, high-end, multifamily property in Mesa, AZ. The property was nearly 94% leased at the time of construction completion.
| Draftsmen & Craftsmen
Work has been completed on a new $73 mil student services building at California State Polytechnic University, Pomona. Serving as a new “front door” to the university, the three-story, 138.4k sf structure consists of two buil...
| Commercial Real Estate Financing Briefs
AVISON YOUNG - Jay Maddox and Peter Sherman with Avison Young arranged a $29 mil loan on behalf of Mega Home LLC to refinance the construction and sell-out of a partially completed 80-unit condominium project located in Los A...
| Bridge Development Partners is Thinking Inside and Outside the Box
In a notable industrial buy in Los Angeles, Bridge Development Partners LLC has acquired ‘The Box Yard’, a 261.5k sf industrial property located on 7.54 acres at 2445 East 12th St, south of I-10 and Olympic Blvd, on the west ...
| Phoenix Apartment Sales Comp Comes in at $120k/Unit
Sanctuary on 22nd, a 266-unit apartment community in Phoenix, sold for $31.8 mil ($119.5k/unit) in a recent deal. The property, located at 8530 N. 22nd Ave, was acquired by a private investor.
Built in 1985, Sanctuary on 22n...
| Principals from Peregrine Realty Partners Buy 65k sf Office Building in Carlsbad
Carlsbad Airport Plaza, a three-story, 64.8k sf office property in Carlsbad, sold for $14 mil, or $216/sf. The buyer was a limited partnership controlled by the principals of commercial real estate firm Peregrine Realty Part...
| Watt Multifamily Buys 280-Unit Res Community in Las Vegas
Watt Multifamily Corp purchased Chapel Hill, a 280-unit multifamily property in Las Vegas. The property is located at 9620 West Russell Rd, just west of the 215 Fwy.
Although the price was not immediately disclosed, Watt fin...