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February 28, 2024
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• Maryland Firm Buys 13 Acres in Manor, Texas for Res Project
Maryland-based DD&B Construction purchased a 13.2-acre land parcel located at E Hwy 290 and Gregg Manor Rd in Manor, TX. The site is planned for an approximately 200-unit multifamily project with up to 20k sf of retail space....
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• The Bascom Group Picks Up 346-Unit Res Community in Houston
The Bascom Group has acquired Montierra, a 346-unit community in Houston. Built in 2003, Montierra is located at 2345 Sage Rd, in the city’s Uptown/Galleria submarket. The price was not disclosed. Developed by Sueba USA, kno...
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• Sacramento’s Esquire Plaza Lands $19.5 Mil Refi
Esquire Plaza, a 22-story, 307k sf Class A office tower anchoring Sacramento’s Governmental Affairs District skyline, was refinanced with a new loan for $19.5 mil. Notable tenants include the Associated Press, California Buil...
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• New 586-Unit OR Res Project Moving Forward with $55 Mil Loan
Parkview Financial has provided a $55 mil loan to Stacy Allison Way Holdings LLC, an entity of West Coast Home Solutions, for the refinance and construction of a two-phased multifamily project totaling 586 units on 19 acres i...
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• Chino Designated as One of the Top Ten “Boomtowns” in the Nation
The City of Chino has been recognized as a "Boomtown," which means it is one of the top ten fastest growing cities in the nation. reviewed the data for 494 of the largest cities in the United States, measuring ...
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• Citywide Commercial Real Estate Spends $7 Mil on Phoenix Industrial Portfolio
Phoenix-based Citywide Commercial Real Estate has acquired a five-building, 86.3k sf industrial portfolio within Thunderbird Business Park in Phoenix for $7 mil ($81/sf). The portfolio, located on just over seven acres at the...
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• Berk Properties Pays $11.6 Mil for Cannon’s Hotel Development Site in Dana Point
Newport Beach-based Berk Properties LLC acquired the fee simple interest in the Cannon’s Hotel Development Site in Dana Point for $11.6 mil. The former home of Cannon’s Restaurant, the site is fully entitled and has received ...
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• Hanley Investment Group Real Estate Advisors Raises $33k for Movember
Hanley Investment Group Real Estate Advisors raised $33,265 for Movember. The company’s theme this year was “Taking Care of Business to Support Men’s Mental and Physical Health,” and represents Hanley Investment Group’s 12th ...
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• Hospitality Reuse Property in Downtown L.A. Sells for $18 Mil
An adaptive reuse hospitality redevelopment site in downtown Los Angeles traded hands for $18 mil. The property, located at 124 E. Olympic Blvd, in the heart of the DTLA’s emerging Fashion District submarket, was sold by Jami...
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• Commercial Real Estate Financing Briefs
JLL Capital Markets -- Aldon Cole and Brad Vansant with JLL Capital Markets arranged $20.6 mil in acquisition financing and joint venture equity for 2425 Auto Park Way, an 88.7k sf corporate headquarters and distribution faci...
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• New Jersey Investor Spends $6.8 Mil on Phoenix Retail Property
Westridge Shopping Center, a 58.7k sf retail center in Phoenix, was acquired by Westridge Phoenix AZ LLC, a New Jersey-based investor, for $6.825 mil ($116/sf). The seller was DPM Westridge Shopping Center LLC. Located at 7...
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• Three-Building Utah Biz Campus Purchased by Hearthstone Capital
San Diego-based Hearthstone Capital Next Step has acquired Next Step Business Park, a three-building, 75.9k sf industrial park in Springville, UT. The property was sold by Regents Park Brixton LLC. Located at 317 N. 2000 W, ...
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• CapRock Partners Building 270k sf Industrial Facility in Pomona
CapRock Partners has obtained $50 mil in construction money for the construction of a 269.7k sf industrial facility in Pomona. Greg Brown, Peter Thompson and Sam Godfrey with JLL Capital Markets arranged the non-recourse cons...
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• Vegas Industrial/Flex Building Sells for $319/sf
A 5.8k sf, concrete tilt-up industrial/flex commercial building in Las Vegas sold for $1.85 mil, or $319/sf. The building, located at 5040 West Post Rd, traded in a deal with an extremely short due diligence and closing perio...
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• 48-Acre Colorado Site Sells for Just Under $10 Mil
A 48-acre, multi-building and land parcel that is fully leased to SiteOne Landscape Supply LLC in Windsor, CO sold for $9.85 mil. The buyer was IA Windsor LLC. Located at 6166 Weld County Road 74 / Harmony Rd, the property p...
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• La-Z-Boy to Make Itself at Home at Colorado Biz Park
La-Z-Boy Incorporated signed a long-term lease for 66.7k sf of space in Building I of Ascent Commerce Center, a newly built spec Class A warehouse and distribution development in Commerce City, CO. Located at Tower Rd and Ea...
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• Res Project in Bellevue, WA Breaks Ground
Legacy Partners, in partnership with New York Life Real Estate Investors, has broken ground on Copal, a 288-residence multifamily property in the fast-growing Bel-Red corridor submarket of Bellevue, WA. The mid-rise, transit-...
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• Maximus Federal Services Renews 149k sf Phoenix Space
Maximus Federal Services has inked a renewal lease for its 149.2k sf space in Phoenix. The five-and-a-half-year extension is for the entire three-story, Desert Canyon building, located at 2411 West Peoria Ave. 2411 West Peor...
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• Avanti Residential Buys 382-Unit Phoenix Res Community for $65 Mil
Avanti Residential has partnered with FCP in the acquisition of Omnia on Thomas, a 382-unit apartment community in Phoenix, for $65 mil, or $170k/unit. Recognized for its chic and colorful exterior with a coveted American Soc...
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• Four-Building Industrial Park in City of Industry Goes for Over $300/sf
A four-building, 95.7k sf freestanding industrial park in City of Industry was purchased by Newport Beach-based Focus Real Estate and their joint venture equity partner Long Wharf Capital, in a $30.75 mil ($321/sf) transactio...
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