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• Nome Ventures Buys The Ziggurat Office Building in Sacramento
7/30/21
Nome Ventures has purchased The Ziggurat office building in Sacramento in a $90 mil deal. The 373.7k sf, 10-story office property, located at 701-707 3rd St, is a pyramid-shaped structure and one of Sacramento’s most recogniz...
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• CBRE Global Investors Buys Four-Property Self-Storage Portfolio
7/30/21
A fund sponsored by CBRE Global Investors has acquired a 296.3k sf self-storage property totaling four assets with a combined 3,746 units. The facilities are in Boulder, CO, Vista, CA, Bothell, WA and Lake Stevens, WA. The fu...
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• Prudential and Capstone Partners Spend $32.5 Mil on Washington Development Site
7/30/21
ParqHouse Bellevue, a 34.3k sf development site in Bellevue, WA, was acquired for $32.5 mil by PGIM (Prudential) and Capstone Partners. The proposed development plan originally included 274 luxury residential units, 6.6k sf o...
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• Opal Holdings Buys 435k sf Trophy OC Office Tower
7/29/21
Opal Holdings, a New York-based real estate investment firm, has acquired City Tower, a LEED Gold certified, trophy office tower totaling 435.2k sf in the City of Orange. It was sold by Pacific Oak Capital Advisors.
Although...
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• CapRock Partners Picks Up 20 Acres in North Las Vegas for Development
7/29/21
CapRock Partners has closed on a 10-parcel land acquisition assemblage totaling 20.7 acres for the development of three state-of-the-art industrial buildings totaling 441.6k sf in North Las Vegas. CapRock acquired the land fo...
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• Apple-Occupied Cupertino Office Project Trades for $64 Mil
7/28/21
De Anza Plaza, an 84k sf, single-tenant office campus in Cupertino, was acquired for $63.75 mil ($759/sf) by Cantor Fitzgerald Income Trust. Apple is the property’s sole tenant and has fully occupied the complex since 2016.
...
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• Sterling Realty Organization Buys 541k sf UT Office Asset
7/28/21
Sterling Realty Organization has acquired Vista Station, a Class A office portfolio located in Draper, UT. The four-building, 541.7k sf asset was sold by a joint venture between The Boyer Company and Gardner Company.
Constru...
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• Transnational Management Spends $28 Mil on WA Power Center
7/28/21
Hazel Dell Towne Center, a 264k sf, Kohl’s-anchored power center located in Vancouver, WA, was purchased by Transnational Management for $28.84 mil ($109/sf). The property was sold by a partnership managed by Pine Tree.
Haze...
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• Prime US REIT Acquires 296k sf Sorrento Mesa Office Property in $146 Mil Deal
7/27/21
Prime US REIT (PRIME) closed on a major, institutional office property buy, acquiring Sorrento Towers, a 296.3k sf Class A office complex in the heart of Sorrento Mesa, for $146 mil ($493/sf). Prime US REIT was advised in the...
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• Amstar and Searles Property Group Spend $80 Mil on Conejo Valley Office Complex
7/27/21
Amstar and Searles Property Group teamed up in the purchase of Westlake Park Place, a five-building, 239k sf office campus in Westlake Village, for $80.8 mil ($338/sf).
Delivered in 2008, Westlake Park Place is among the ne...
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• Sares Regis Group Affiliate Buys 299-Unit Apartment Property in Downtown San Diego
7/26/21
A Sares Regis Group affiliate purchased LIT Cortez Hill (formerly known as AVA Cortez Hill), a 299-unit, high-rise apartment property located at 1399 9th Ave in downtown San Diego, CA. The deal was financed with a $76 mil sen...
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• GI Partners Buys 230k sf Silicon Valley Office Asset
7/23/21
In a major office buy in Silicon Valley, GI Partners has acquired a 230k sf building located at 520 Almanor Ave in Sunnyvale. Industry pros estimate the transaction value to be around $254 mil, which averages out near $1,100/...
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• Commercial Real Estate Financing Briefs
7/22/21
GANTRY - Mitchell Zeemont and Tony Kaufmann with Gantry secured a $44.25 mil loan for a single-tenant life sciences building located in the East Bay’s Emeryville submarket. The 67k sf building is 100%t occupied by a publicly ...
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• Kennedy Wilson Closes 344-Unit Res Buy in New Mexico
7/22/21
In a recent New Mexico multifamily buy, Kennedy Wilson purchased Sombra del Oso, a 344-unit apartment community in Albuquerque, for $65 mil ($189k/unit), excluding closing costs. Kennedy Wilson invested $28 mil of equity usin...
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• Carlsbad Creative Office Building Trades Near $400/sf
7/22/21
A 48.3k sf, Class A creative office building in Carlsbad was acquired by and OC-based family investment entity for $19.25 mil, or $398 per square foot. The property, located at 1800 Aston Ave, was sold by Burke Real Estate Gr...
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• Anchor Health Properties and Carlyle Pick Up Medical Office Building in San Diego County
7/21/21
Vista Medical Plaza, a multi-tenant medical office building totaling 54.7k sf in Vista, was purchased for $26.75 mil ($489/sf) by a partnership between Anchor Health Properties and Carlyle. The property was sold by AmeriCare ...
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• Bay Area Industrial Facility Attracts $424/sf Price
7/20/21
Stephen Finn of Finn Capital purchased a 129.8k sf industrial facility in Burlingame for $55 mil ($424/sf). Built in 1957, the single-story structure is located at 1649 Adrian Rd, southeast of Millbrae Ave and adjacent to the...
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• Creative Artists Agency Renews Its 300k sf Century City Office Space
7/19/21
Leading entertainment and sports agency (CAA) renewed its lease for 303k sf of space in Century City for an additional four years. The space is at 2000 Avenue of the Stars and 2029 Century Park East, both part of the three-bu...
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• Tesla Leases New 322k sf Industrial Facility in the Inland Empire
7/19/21
Tesla has signed a lease and taken occupancy at 19640 Cajon Blvd, a recently completed, 322k sf industrial development in San Bernardino. The facility, a development of Alere Property Group, now serves as Tesla’s west coast d...
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• Historic Hollywood Tower Sells for $20 Mil
7/16/21
Hollywood Tower, an historic, eight-story, 52-unit multifamily asset located at 6200 Franklin Ave in Hollywood, sold for $20.1 mil, which equates to $386.5k per unit. The asset, originally known as La Belle Tour, was listed i...
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