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March 25, 2023
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NEWS HEADLINES


Aspen Hospitality Buys Partial Ownership of Hotel Born in Downtown Denver
3/24/23
Firm to convert property to its Limelight brand

Two-Building AZ Industrial Project Sells for $40 Mil
3/23/23
Chandler Crossroads I & II contains 216k sf of Class A space

Washington Food Processing Plant Sells for $19.5 Mil
3/22/23
No Meat Factory buys 196k sf property in Stanwood

BKM Capital Partners Completes Purchase of 740k sf Light Industrial Portfolio in Las Vegas.
3/22/23
Firm to implement value-add improvements to the seven-property, 21-building acquisition



New Riverside Distribution Facility Leased to Logistics Plus Warehousing & Fulfillment
3/21/23
374k sf structure is phase II of Columbia Business Park

Sakioka Farms Pays Over $500/sf for Ontario Retail Center
3/21/23
$54 mil deal is for 95k sf New Haven Marketplace

Commercial Real Estate Financing Briefs
3/20/23
Recent Transactions from Talonvest Capital, Gantry, George Smith Partners and Marcus & Millichap Capital Corporation

Balboa Retail Partners Goes Shopping in Hillsboro, OR
3/20/23
Firm picks up 372k sf The Streets of Tanasbourne center

Ontario Retail Center Trades in $54 Mil Deal
3/17/23
95k sf New Haven Marketplace goes for $568/sf

GPI Companies Set to Build 200-Unit Res Community in West Los Angeles
3/16/23
JLL arranges $84 mil in construction money for Overland and Ayres project

Bridge Industrial Has Nearly 4 msf of New Industrial Development Scheduled for Delivery in 2023
3/15/23
The company has a portfolio of over 9.5 msf in the state

Work Starts on 380-Unit Colorado Res Community
3/14/23
Legacy Metro 525 is a development of Legacy Partners and Griffin Capital Company

Menifee Industrial Development Land Trades for $61 Mil
3/10/23
Patrinely Group purchases 34-acre site for Phase II of Scott Road Commerce Center

Shopoff Realty Investments Venture Acquires Former Nordstrom Site in the Bay Area
3/09/23
Partnership with Praelium Commercial Real Estate and Singerman Real Estate affiliate spends $16 mil on 8.37-acre property in Pleasanton

Commercial Real Estate Financing Briefs
3/08/23
Recent transactions from CBRE Capital Markets, MetroGroup Realty Finance, JLL Capital Markets and Marcus & Millichap Capital Corporation

New 82-Unit Affordable Housing Community in DTLA’s Skid Row Completed
3/07/23
LAMP Lodge a development of Meta Housing and The People Concern

Longfellow Real Estate Partners to Develop 315k sf Life Sciences Project in the Bay Area
3/06/23
Millbrae development funded with $310 construction loan arranged by JLL

MIG Buys 157k sf Inland Empire Industrial Project
3/03/23
$26 mil deal is for Gifford Business Park in San Bernardino

Tishman Speyer Starts Work on Santa Monica Res Projects
3/02/23
Four multifamily buildings are first phase of the firm’s Santa Monica Collection development

Hillwood Investment Properties and CBRE Investment Management are Buying 433 Acres in the Inland Empire for $544 Mil
3/02/23
Auto Club Speedway land in Fontana is entitled for 6.6 msf of industrial development

Downtown L.A. Real Estate Showing Steady Growth Starting Off 2023
3/01/23
New report from Downtown Business Center Improvement District highlights improving sectors in a region being transformed by a growing mixed-use market

Construction Underway at 3.9 msf Industrial Development in Aurora, CO
3/01/23
Sun Empire is being developed by a joint venture between The Opus Group and Principal Real Estate Investors

Panattoni Entity To Develop 274k sf Distribution Project in Surprise, AZ
2/28/23
State-of-the-art facility to site on over 16 acres just acquired for $8.5 Mil

Ian Schrager and Ed Scheetz Acquire Former Standard Hotel in West Hollywood for Rebranding into a PUBLIC Hotel property
2/24/23
Deal was funded with $86 mil loan provided by iBorrow and Reuben Brothers

Glencrest Group Closes $27 Mil Buy of Portland Res Community
2/24/23
Firm pays $160k/unit for 168-unit Meadowland Apartments

Office Building in West Covina Gets New Owner in $22 Mil Trade
2/23/23
Atrium on the 10 goes for $220/sf

WJM Enterprises Starts Multi-Million Renovation of Phoenix Office Campus
2/22/23
Stevens-Leinweber Construction is handling construction work at two-building Lake Biltmore Corporate Center

Unique 1,100-Acre Colorado Development Opportunity Put on the Market
2/21/23
Garfield County land features two miles of Colorado River Frontage

Wu Properties Buys 180k sf Northwest Crossing Centre in Houston
2/21/23
Property was 94% leased at time of sale

29th Street Capital Spends $41.6 Mil on Res Community in Scottsdale, AZ
2/16/23
Firm buys 193-unit Dwell Apartment Homes from Avanti Residential

Brookfield Entity Defaults on $784 Mil of Loans on Two DTLA Office Towers
2/16/23
Loans are on the Gas Company Tower and 777 South Figueroa

San Fernando Valley Retail Center Trades in $58 Mil Deal
2/15/23
Gerrity buys 137k sf Victory Plaza from Kennedy Wilson

Carlsbad Industrial Facility Fetches $247/sf
2/14/23
85k sf property purchased by Wimatex Inc

Mesa West Capital Has Raised $1.37 Bil for Latest Fund
2/14/23
This is firm’s first fund since joining Morgan Stanley Investment Management

Greenlaw Partners Pays $58 Mil for Two Anaheim Industrial Facilities
2/13/23
Adjacent properties total 199k sf

Nelson Rising Passes at 81
2/10/23
Real estate and civic leader played a role in many of the most significant commercial developments in California

BentallGreenOak Closes $36 Mil R&D/Life Science Buy in Carlsbad
2/10/23
Firm picks up 120k sf building fully leased to three tenants

Commercial Real Estate Financing Briefs
2/10/23
Recent transactions from JLL Capital Markets, George Smith Partners and Gantry

Taipei Economic and Cultural Office Spends $52.8 Mil on San Francisco Office Building
2/09/23
Agency to occupy entire 56k sf property

Alliant Strategic Development Starts Work on Four Res Projects in the San Fernando Valley
2/09/23
Transit-oriented developments to add over 700 affordable housing units to the region

Elevation Land Company and a Crow Holdings Capital-Advised Fund to Develop 1.8 msf Biz Park in Otay Mesa
2/08/23
First phase, estimated for completion in second half of 2024, to consist of 1 msf in five buildings

Brookfield Asset Management Acquires New 1.8 msf Inland Empire Distribution Development in $329 Mil Deal
2/07/23
Firm buys I-10 Logistics Center from Shopoff Realty Investments and Artemis Real Estate Partners

WHAT'S NEW
Central Washington Ranks Eighth, Seattle Fifteenth for Data Center Leasing in 2022
3/24/23
Washington has some of the lowest power rates in North America per CBRE report

See the Speaker Panels from March 16 OC CRE Conference
3/20/23
Photos of all the industry pros who participated in RENTV's 2023 Orange County State of the Market Conference

San Diego County Medical Office Sector Ends 2022 with Uptick in Activity
3/16/23
Leasing activity up at the close of 2022, while rents continue to rise, according to report from JLL

RENTV's 2023 Inland Empire State of the Market Conference is on Tuesday, May 9 at the Embassy Suites by Hilton Ontario Airport Hotel
3/14/23
The event will feature high-powered panels of top local executives and dealmakers discussing the Office, Retail, Industrial, Multifamily and Finance markets throughout the Inland Empire. The conference will open for registration at 8:00 AM with the program starting at 9:00 AM. The event will include a networking lunch with a keynote speaker and then will wrap up at 2:00 PM.

A New Large-Lease Leader: Finance and Insurance Industry Signed More of the Top 100 US Office Leases in 2022 than Tech Industry
3/06/23
Los Angeles among the top 10 markets for its share of square footage of the top-100 leases

2022 Sets Record for Million sf+ Industrial Leases
2/28/23
Inland Empire named top market in the U.S. according to CBRE report

San Diego Multifamily Market Closed Out 2022 with Strong 4th Quarter
2/27/23
Northmarq reports increase in asking rents with slight increase in vacancies


Hear and Network with OC CRE Pros on March 16 at Annual Conference
2/15/23
Sign up now to watch high-powered panels discuss the office, industrial, retail, multifamily and finance markets at this year's Orange County State of the Market Conference at Irvine Company's Venue event facility at its new Spectrum Terrace office complex in Irvine.

Industrial Construction Costs Ease Slightly but Remain Elevated
2/03/23
Per latest research from Cushman & Wakefield, competition for materials in a commodity constrained market, coupled with inflationary pressures, has driven construction costs higher across all real estate sectors.

Inflation, Experiential Real Estate and Alternative Sectors, Friend-Shoring and Metaverse Among 10 Global Trends to Watch in 2023
2/01/23
Avison Young identifies 10 key trends impacting commercial real estate in 2023

San Francisco Bay Area Residents Demand Tech-Enabled Solutions at Multifamily Properties
1/26/23
Landlords and property managers look for integrated solutions to accept, manage and safely secure incoming packages

Don’t Miss RENTV’s 2023 O.C. State of the Market Conference on March 16!
1/23/23
Annual CRE event to be held at the Irvine Company's Venue event facility at its new Spectrum Terrace office complex in Irvine

Vegas Industrial Market Remains in Strong Demand
1/23/23
End of year review from Avison Young shows increased development activity and record rents

Portland Jumps into Tie for Top Data Center Market in the U.S.
1/20/23
Cushman & Wakefield report ranks10 leading markets based on 13 categories

OC Office Market Sees Cautious Optimism
1/19/23
JLL Provides Year-End 2022 Update on the Market

Phoenix Industrial Market Breaks Multiple Sales Records
1/16/23
Avison Young Offers Fourth Quarter 2022 Review of the Market

 
ETC. ETC...
Montecito Medical Real Estate Spends $29 Mil on AZ Medical Building
3/22/23
68k sf Banner Health Center – Peoria goes for $426/sf

Cougar USA Leases 46k sf Facility in Houston
3/22/23
Building offers high percentage of office space needed by the tenant

Volwood Management Buys Bay Area Office Building in $12.8 Mil Deal
3/21/23
29k sf property in Orinda goes for $443/sf

Cushman & Wakefield Awarded Office Leasing Assignment for Cherry Creek West in Denver
3/21/23
Project is East West Partners’ redevelopment of 13 acres adjacent to Cherry Creek Shopping Center

CapRock Partners Buys 131k sf Class A Industrial Facility in Phoenix
3/20/23
Building was pre-leased to Metrie Inc

Vicky Schiff, Dream Unlimited Corp and PaulsCorp LLC Launch Avrio Real Estate Credit
3/16/23
New firm to provide structured finance products ranging from $25 mil to $150 mil

TerraLane Communities and Franklin Mountain Investments to Start Work on Texas Build-to-Rent Community
3/15/23
Venture acquires 94 single-family “finished” lots within the Campo del Sol masterplan in the El Paso area

Affordable Mixed-Use Project in Denver Gets Underway
3/13/23
Montbello Freshlo Hub to offer 180 res units along with fresh food options

Stockton Foundation Buys 165-Acre Parcel in Cypress, TX
3/13/23
Site will be used for future home of the Harris County Fair & Rodeo and Fair BBQ Cook-off

Dunleer Picks Up 144-Unit Res Asset in Dallas
3/10/23
The Lex is viewed as a value-add opportunity

AHV Launches Third-Party Built-For-Rent Services®
3/10/23
Firm’s offering provides institutional grade development and homebuilding services to others

SENTRE Closes 148k sf Industrial Buy in Poway
3/09/23
JLL arranges $21.4 mil in purchase money

DXD Capital Completes Work on Las Vegas Self-Storage Facility
3/08/23
991-unit development sits on a 1.7-acre parcel acquired two years earlier

Colorado Grease Monkey Fetches $577/sf
3/07/23
Trade is for 5.3k sf asset in Monument

Carlsbad R&D Building Fetches $18.6 Mil in Second Trade in Just Over a Year
3/06/23
Building was sold by Luminous Capital Management and Virtus Real Estate Capital, who acquired the property for $9.6 mil

Reno Hotel Portfolio Trades Hands
3/06/23
Deal is for a Staybridge Suites and Hilton Garden Inn, totaling 229 rooms

Lincoln Property Company Makes Two Pro Moves to Boost Its Pacific Northwest Leadership
3/03/23
Ryan Feigelson joins as Senior Vice President and Lee Morrison promoted to Senior Vice President of Leasing and Asset Management

Event Center Property in San Antonio Goes for Over $5 Mil
3/03/23
GrayStreet Partners buys 25k sf Villita Assembly Building

Las Vegas Industrial Park Trades for $6 Mil
3/02/23
Private investor picks up 19k sf Windy Road Warehouses

Stanford University Awards 1.1 msf Office Portfolio and 7 msf Ground Lease Portfolio to Cushman & Wakefield
3/01/23
The properties are located within Stanford Research Park

Utah Ski Resort/Residence Listed for $50 Mil by Iluminous Group
2/28/23
Avatar Financial Group provides $8.75 mil bridge loan to finish upscale renovations prior to sale

$16.8 Mil Sandi Simon Center for Dance Completed at Chapman University
2/27/23
R.D. Olson is general contract for adaptive reuse of a packing house built in 1918

Lew Horne to be Inducted into NAIOP SoCal Hall of Fame
2/24/23
CBRE President of the Greater Los Angeles, Orange County and Inland Empire regions to be recognized at 2023 Industry Awards Gala

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