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• Nazareth Enterprises Spends $15.6 Mil on 180k sf of Space in Morgan Hill
7/25/17
Nazareth Enterprises Inc recently completed the $15.6 mil acquisition of two properties totaling 180k sf ($87/sf) in Morgan Hill, a city roughly 20 miles southeast of San Jose in Santa Clara County. The properties are located...
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• Commercial Real Estate Financing Briefs
7/21/17
NEWMARK - Robert Slatt, Jeff Wilcox and Charlie Kokernak with Newmark has arranged $27.2 mil in fixed-rate financing for the Stanford Park Hotel in Menlo Park. The 162 room, full-service hotel opened in 1984. Located on a sin...
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• LaSalle Management Purchases Newly Completed Portland Office Property
7/20/17
Pearl West, a newly developed, 155.5k sf Class A office tower in Portland, OR, was acquired by LaSalle Investment Management. The price was not disclosed.
Completed in 2016, Pearl West is a LEED Gold-certified, mid-rise offi...
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• Sterling Real Estate Holdings Acquires 130-Unit Residential Property in Phoenix
7/20/17
Sterling Real Estate Holdings, a joint venture between Barker Pacific Group and Pacific Real Estate Partners, has acquired Summerhill Apartments, a 130-unit multifamily property in Phoenix, for $9.3 mil ($71.5k/unit). The 197...
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• REI Inks Lease for 43k sf Flagship Store in Burbank
7/19/17
Recreational Equipment Incorporated (REI) inked a 10-year lease for 43k sf of space at Burbank Empire Center. REI will occupy the entire freestanding former Sports Authority building located at the entrance to the shopping ce...
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• Easterly Government Properties Buys 327k sf, OC Medical Office Building Fully Leased to the VA
7/18/17
Easterly Government Properties has acquired a three-story, 327.6k sf Class A medical office building in Loma Linda. Although we don’t have the sale price, we can tell you the purchase was financed with a loan of $127.5 mil.
...
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• Wilshire Blvd Replaces Yellow Brick Road in Cypress Equity Investments’ Version of Aahs Story
7/17/17
Cypress Equity Investments recently purchased a two-story, 11.7k sf building on Wilshire Blvd at the eastern edge of Santa Monica. The property is occupied by Aahs, a popular gift/novelty store with six locations in Los Angel...
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• Remington Nevada Secures $36 Mil Financing for Completion of Las Vegas Retail Center
7/14/17
Remington Nevada has secured a $36.7 mil loan to refinance the existing debt and finance the remaining construction on its 101k sf Mountains Edge Marketplace retail project in southwest Las Vegas. The new financing, consistin...
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• Alcion Ventures Refis Culver City Creative Office Campus
7/13/17
Alcion Ventures has obtained $60 mil in refi money for bLAckwelder, a 157.6k sf, creative office campus located at the intersection of Fairfax Ave and La Cienega Blvd in Los Angeles, at the border with Culver City.
Renovated...
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• RAF Pacifica Group Underway with Over 500k sf of Creative Industrial Space in North San Diego County
7/12/17
RAF Pacifica Group has broken ground on three ground-up creative industrial developments totaling $110 mil in North County San Diego. The developments encompass over half a million square feet of high-quality creative industr...
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• Investor Spends $32.5 Mil on 236 Res Units in Modesto
7/10/17
A SoCal investor has paid $32.57 mil for two multifamily communities totaling 236 units ($138k/unit) in Modesto. The acquisition consists of The Commons Apartment Homes, a 100-unit community on Standiford Ave, and Summerview ...
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• TX Medical Office Asset Trades for $9.2 Mil
7/07/17
SG Property Service has acquired MacArthur Medical Plaza, a 41.6k sf medical office asset in Irving, TX, for $9.2 mil ($221/sf), via an affiliated entity. The purchase represents 67% of a condominium association.
The 12-acr...
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• Downtown LA Development Site Sells for $795/sf
7/06/17
A foreign investor paid $26.5 mil for a multifamily development site in downtown Los Angeles. The property is entitled for a 24-story, 241-unit condo project that includes retail. The site sold for $795 per square foot.
The...
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• Presson Companies Lands $151 Mil in Financing for AZ Industrial Portfolio
6/30/17
Presson Companies has obtained $151 mil in new permanent financing for a 30-property, multi-tenant industrial portfolio totaling more than 4 msf and in excess of 1,000 tenants. The financing was arranged by Newmark and funded...
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• Vancouver, WA Retail Asset Sells for $21.5 Mil
6/28/17
Fourth Plain Center, a 117.1k sf, value-add, multi-tenant shopping center in Vancouver, WA, recently sold for $21.5 mil ($184/sf). The property is situated in on 7.96 acres at 2903 NE Andresen Road, 2913 NE 72nd Drive and 29...
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• AZ Biz Park Trades in $19 Mil Deal
6/28/17
Kachina Industrial Park, an eight-building, 202.9k sf business park in Tempe, AZ, was sold by NoCal-based Kieckhefer Properties for $19.1 mil, or $94/sf. The property, located at 1805-1850 W. Drake Dr, was purchased by Libitz...
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• Crown Acquisitions Buys OC Apartment Property with $29 Mil Loan
6/28/17
Crown Acquisitions Inc has obtained a $29 mil loan for the purchase of Fullerton University Village, a student housing community located in Fullerton. The borrower plans to renovate the property and create a more dynamic livi...
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• Burbank Office Asset Trades Hands
6/27/17
A 119.8k sf, Class A office property in Burbank was purchased by a joint venture of Ocean West Capital Partners and Fortress Investment Group. The seven-story building, located at 2901 W. Alameda, north of the 134 Fwy near th...
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• Fowler Property Acquisitions Spends $40 Mil on AZ Res Asset
6/23/17
San Francisco-based Fowler Property Acquisitions LLC recently closed on a notable AZ multifamily buy, paying $40.5 mil for Ocotillo Springs, a 272-unit ($149k/unit) community in Chandler. The property, located at 825 West Que...
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• Draftsmen & Craftsmen
6/22/17
McCormick Construction has completed renovation work of Westfield’s U.S. headquarters renovation, located at 2049 Century Park East in Century City.
McCormick’s scope of work on the Westfield-designed space consisted of the ...
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