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• New Rialto Industrial Facility Sells for $16 Mil
3/04/19
A newly constructed, 120.6k sf freestanding industrial facility in Rialto sold for $15.9 mil ($132/sf). The facility, located at 1450 Alder Ave, was then leased out to the buyer’s affiliate, Magnolia Foods, a Mira Loma-based ...
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• Draftsmen & Craftsmen
3/01/19
The walls have been tilted tilt on East Valley Commerce Center Phase II, a two-building, 363k sf industrial project being developed by Metro Commercial Properties in the heart of Mesa’s US 60 corridor, in Arizona. The work w...
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• George Oliver Providing a Home for Modern Office Space Users in Phoenix at CASA
2/28/19
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...
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• New Pismo Beach Hotel Financed with $26.5 Mil Loan
2/27/19
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.
The...
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• EnVen Energy Takes 57k sf at Houston Office Tower
2/26/19
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...
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• Local Buyer Picks Up 83k sf Goleta Building Occupied by Northrop Grumman Innvation Systems
2/25/19
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...
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• Oxygen Hospitality Group Inc Buys 160-Room Phoenix Hotel Property
2/22/19
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...
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• AZ Biz Campus Gets New Owner in $63 Mil Deal
2/21/19
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...
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• OC Biz Park Trades in $22 Mil Transaction
2/20/19
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...
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• Newly Built Arizona Hotel Secures $40 Mil in Financing
2/18/19
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...
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• Transwestern Development Co and J.P. Morgan Asset Management Acquire 60 Acres Near Sam Houston Race Park
2/15/19
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...
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• Optimus Properties Exchanges $15.75 Mil in Torrance Office Building
2/14/19
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.
The pr...
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• Global Medical REIT Spends Over $17 Mil on Inland Empire Medical Office Building
2/13/19
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...
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• Hillwood Purchases 350k sf Industrial Development in Austin
2/12/19
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...
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• Transwestern Investment Group Picks Up 1.2 msf TX Industrial Property
2/11/19
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...
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• Bela Flor Communities Obtains $40 Mil in Financing for New AZ Res Community
2/07/19
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.
The l...
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• Draftsmen & Craftsmen
2/05/19
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...
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• Commercial Real Estate Financing Briefs
2/05/19
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...
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• Bridge Development Partners is Thinking Inside and Outside the Box
2/04/19
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 ...
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• Phoenix Apartment Sales Comp Comes in at $120k/Unit
2/01/19
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...
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