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• Unique Irvine Investment/Development Site Put on the Market
5/10/24
We’ve just learned of a 3.73-acre office/data center mixed-use property in Irvine that has been put on the market. The property, located at 2525 Main St, is currently improved with 104.4k sf of office space, 38.9k sf of data ...
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• Two Seattle Residential Assets Land New Financing in Deals Totaling $14.5 Mil
5/09/24
Two Seattle multifamily properties secured new financing in separate permanent loan transactions totaling $14.5 mil. Both deals were arranged by Mike Wood and Colin Ceithaml with Gantry for different private investor borrower...
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• Retail Property in San Francisco Trades in $9.3 Mil Deal
5/06/24
Pacific Capital paid $9.35 mil for 2145 Market St, a 29.8k sf ($314/sf), trophy retail asset in San Francisco. The property was sold by a private family trust.
2145 Market is 100% leased to investment-grade tenant Walgreens...
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• Community Preservation Partners Acquires 14-Unit Housing Asset in the San Fernando Valley
5/03/24
Community Preservation Partners has acquired Canoga Park Apartments, an affordable housing development in the western San Fernando Valley. This is the fifth community in the greater Los Angeles area for CPP and the 60th in th...
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• Phoenix Dev Site Goes for $13 Mil
5/02/24
Scottsdale-based Aspirant Development purchased a 3.29-acre land parcel in downtown Phoenix for $13 mil ($91/sf). The parcel, located at 1500 N. Central Ave, is planned for the development of a 25-story res tower.
The planne...
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• Rockefeller Group Starts Work on 600k sf Distribution Project in Riverside
5/01/24
Rockefeller Group has begun construction of Sycamore Hills Distribution Center on 34.63 net acres in Riverside. The project includes two buildings totaling 603.1k sf: a 400k sf building (Building A) and a 203.1k sf building (...
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• Washington Industrial User Trades for $26.6 Mil in Owner/User Buy
4/30/24
KRL Legacy LLC, an entity of Ace Relocation System Inc, purchased Pike Distribution Center, a 108k sf industrial property in Auburn, WA, for $26.65 mil ($247/sf). The asset was sold by CenterPoint Properties.
Pike Distributi...
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• 260k sf Light Industrial Asset in Texas Acquired by MIG Real Estate Entity
4/29/24
In a recent light industrial property trade in Texas, SouthTech Business Center, a four-building, 260.1k sf Class A property in Austin, was acquired by a 1031 investor represented by MIG Real Estate. The 93% leased property, ...
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• Class A Office Building in Glendale’s Financial District Put on the Market
4/29/24
Here’s news of a 136.6k sf, Class A office building in the heart of Glendale’s financial district that’s been put on the market. The building, situated on 0.87 acres at 700 N. Central Ave, is an eight-story, multi-tenant stru...
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• Online Luggage Company Leases 40k sf of Distribution Space in Arizona
4/26/24
Portmantos Inc has agreed to a five-year, $2.56 mil lease for 40k sf ($1.06/sf/mo) of logistics space in Tempe, AZ. The online luggage and travel accessory company will be occupying part of a Class A, multi-tenant facility lo...
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• 94k sf Phoenix Light Industrial Facility Becomes a Top 10 Property
4/26/24
Pinnacle Peak Commerce Center, a freestanding 93.7k sf, Class A light industrial building in the Deer Valley submarket of Phoenix, was acquired by Top 10 Properties in a $21.85 mil transaction. The property was 100% leased to...
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• AZ Retail Center Gets New Owner in $5.5 Mil Transaction
4/25/24
Avenue at Olive Park, a fully leased, 20.5k sf retail center in Glendale, AZ traded for $5.5 mil, or $268/sf. The property is situated on almost three acres at 5814 W. Olive Ave, at the northeast corner of Olive and 59th Aven...
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• University of California, Irvine Graduate Student Team Wins NAIOP SoCal Orange County Real Estate Challenge
4/25/24
The graduate student team from the University of California (UCI), Irvine Paul Merage School of Business Center for Real Estate was named the winner at the third annual NAIOP SoCal Orange County Real Estate Challenge.
The a...
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• Bay Area Res Community Gets Recapitalized in Deal that Values the Asset at $45 Mil
4/25/24
Interstate Equities Corporation (IEC) has recapitalized The Gates at Marina, a 136-unit multifamily garden-style community in Marina, CA. The deal gives a co-mingled fund advised by New York-based Clarion Partners a majority ...
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• Grubb Properties Obtains $20 Mil for Three SoCal Retail to Res Conversions
4/23/24
Bolour Associates has provided over $20 mil in debt financing for the redevelopment of three Southern California retail projects. Upon redevelopment, the sites will deliver 375 new apartment units by North Carolina-based Grub...
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• Advanced Real Estate Creates an Investment Alternative to a 1031 Exchange
4/23/24
Advanced Real Estate has launched a new investment alternative to the 1031 tax deferred exchange, called the X Fund. Since August 2023, Advanced has joined together the owners of $50 mil of smaller properties. Advanced will u...
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• Noble House Hotels & Resorts Makes Equity Investment in Oregon Resort Properties
4/23/24
Sonnenblick-Eichner Company has arranged a strategic joint venture equity investment into the ownership entity of the Pacific City Lodging Portfolio, located in Pacific City, OR. The Pacific City Lodging Portfolio is a colle...
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• Rimkus Consulting Group Inks Long-Term Lease for 50k sf of Houston Office Space
4/22/24
Rimkus Consulting Group Inc has agreed to a long-term lease for 50.4k sf of office space in Houston. Located at 12140 Wickchester Lane, the 171.5k sf building formerly known as Woodbranch Plaza III, has been renamed as Rimkus...
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• Community Preservation Partners Acquires 42-Unit Affordable Housing Project in El Centro, CA
4/22/24
CPP (Community Preservation Partners) has acquired Euclid Villas, a 42-unit multifamily property in El Centro, CA, with plans to renovate and retain the asset as an affordable housing project. Built in 1982, Euclid Vill...
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• Phoenix Multifamily Property Comps at $194k/Unit
4/19/24
Arcadia Gardens, a 76-unit apartment community in Phoenix, traded hands in a recent $14.75 mil ($194k/unit) deal. Originally built in 1969 as a hotel, the property, located at 3101 N 32nd St, was readapted to multifamily use ...
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