| ScanlanKemperBard Buys Leftbank in Portland
ScanlanKemperBard (SKB) bought Leftbank, a 60.2k sf, adaptive reuse, creative office project at 240 N. Broadway in Portland’s Lloyd District. The purchase was financed with a $13.3 mil acquisition loan.
The Leftbank property...
| Tappan Corporation Buys Office Building in San Diego’s Miramar Area
SoCal-based Tappan Corporation has acquired Sorrento Ridge, a 103.3k sf, three-story office building in the Miramar submarket of San Diego County. The price was undisclosed.
Sorrento Ridge sits on 4.38 acres at 7220 Trade St...
| Hines Starts Work on 374k sf WA Office High-Rise
Hines has begun construction on Summit 3, a 374.2k sf, 17-story Class A office building in Bellevue, WA. Located at the corner of 108th Avenue NE and NE 4th Street, Summit 3 will be constructed on top of an existing seven-sto...
| Two Belmont Multifamily Properties Fetch $25 Mil in Separate Deals
We’ve learned of two multifamily property sales totaling $25 mil in the Bay Area city of Belmont, a high-barrier to entry market in San Mateo County. Adam Levin and Robert Johnston with Levin Johnston represented the seller, ...
| ViaWest Group Buys Industrial Portfolio in Phoenix’ Sky Harbor Submarket
ViaWest Group closed on the acquisition of an industrial portfolio comprised of both vacant, developable land and two existing buildings in the Phoenix Sky Harbor submarket. Ultimately, the combined projects will have over 65...
| LaTerra Development to Develop Two Res Projects in Santa Monica Totaling 99 Units
LaTerra Development has begun construction on the first of two apartment projects in Santa Monica, at the corner of Broadway Ave and Cloverfield Blvd. The second project, at the corner of Santa Monica Blvd and Yale St, is set...
| Two Tenants Lease Up 250k sf Ontario Facility
Airport Distribution Center, a 250.2k sf industrial building in Ontario, has been fully leased by two tenants - Esperia Holdings LLC and Technical Consumer Products Inc. The facility is located at 5700 E. Airport Dr, at the s...
| AZ Res Property Trades for $30 Mil
Ridge View, a 150-unit luxury apartment community in Fountain Hills, AZ, was acquired by an entity formed by San Francisco-based FPA Multifamily LLC for $30.3 mil, or $202k/unit. The property was sold by San Francisco-based 2...
| 24Seven Enterprises Takes 400k sf of Distribution Space in Vacaville
24Seven Enterprises recently inked a long-term lease for 405k sf of warehouse/distribution space at North Bay Logistics Center in Vacaville, a NoCal city off I-80 roughly midway between San Francisco and Sacramento. 24Seven E...
| Seattle Mixed-Use Project Receives $31 Mil in Construction Money
Vibrant Cities has obtained $31.3 mil in construction financing for the development of Pivot, a mixed-use residential, office and retail property in Seattle’s Capitol Hill neighborhood. The borrower acquired the development s...
| Santa Monica Apartment Sale at $600k/Unit Viewed as a Value-Add Deal
A 14-unit apartment property in Santa Monica sold for $8.5 mil, or $607k/unit. The property, which was 85% occupied at the time of sale, is located at 833 20th St, near the cross street of prestigious Montana Ave, a favorite ...
| Kenco Logistics Services Leases 580k sf in the Inland Empire
Kenco Logistics Services LLC, one of the largest woman-owned, third-party logistics companies in the United States, agreed to a lease for 579.7k sf of space in the Inland Empire cityof Perris. Kenco will occupy the entire bui...
| Scannell Properties Spends $26 Mil on Multi-Building Industrial Asset in Petaluma
Scannell Properties purchased a 183k sf, multi-building industrial portfolio in Petaluma for $26.45 mil ($144/sf). The property was sold by a pair of private individuals who formerly operated their business, Sistema Plastics,...
| JRK Property Holdings Buys 240-Unit Res Property in the Seattle Area
JRK Property Holdings purchased Santa Fe Ridge Apartments, a 240-unit, garden-style multifamily property in Silverdale, WA, about 24 miles northwest of Seattle. The property, acquired in an off-market deal, boosts JRK’s portf...
| Sterling Real Estate Partners Closes $20 Mil Res Buy in Phoenix
Sterling Real Estate Partners has acquired Villas de Azul Apartments, a 301-unit multifamily property in Phoenix, for $19.8 mil, or $66k/unit. Built in 1972, the property is located at 2627 N. 45th Ave, north of I-10 and wes...
| The Companion Group Relocates from the East Bay to the Sacramento Area
The Companion Group has signed a lease for 100.8k sf of warehouse/distribution space in the city of Woodland, moving the company’s long-time industrial operations once housed in the San Francisco East Bay Area city of Hayward...
| Canadian Investment Entity Pays $25 Mil for Phoenix Multifamily Property
The Colony, a 236-unit res property in Phoenix, sold for $25.1 mil, or $106.4k/unit. The buyer was WREF Colony LP, an entity formed by Western Wealth Capital of North Vancouver B.C., Canada.
Built in 1979, The Colony is loca...
| Lennar Homes Buys Five-Acre Infill Site in Arcadia for Redevelopment
Lennar Homes has acquired a 4.9-acre redevelopment property in Arcadia with plans to construct a mixed-use project that will contain 80 residential units. The property, located at 17 Las Tunas Drive, had previously housed a 5...
| Vestar Buys 165k sf AZ Retail Center
Vestar purchased University Plaza, a 165.6k sf shopping center located in the heart of Flagstaff, AZ. The property traded for $27.5 mil, or $166/sf.
University Plaza is ideally located across the street from Northern Arizona...
| BH Properties Buys Phoenix Industrial Asset
BH Properties acquired Riverpoint – Building 2, a 61.3k sf, multi-tenant flex office building in Phoenix, for $5 mil ($81.50/sf). The single-story building is located at 3100 E. Broadway.
Built in 2002, the recently vacated ...