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Investment Fund Acquires 70k sf Self-Storage Facility in the Phoenix Area 7/22/22 A fund sponsored by CBRE Investment Management has acquired a 70k sf, self-storage facility located in a northwest suburb of Phoenix. The purchase is part of the fund’s strategy to acquire high-quality self-storage assets acr...
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Vegas Office Building Sells for $23.3 Mil 7/20/22 Marnell Corporate Center 3 (MCC3), a three-story, 71.4k sf office building in Las Vegas, sold for $23.3 mil, or $325/sf. The property was 87% occupied at the time of sale.
The asset was sold by Dornin Investment Group, who o...
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Colorado Office Properties Land $196 Mil Financing 7/20/22 Schnitzer West has obtained financing of $196 mil on the Fiddler’s Green Portfolio, consisting of Palazzo Verdi, Fiddler’s Green I and Fiddler’s Green II. The Class A office portfolio totals 748.4k sf and is located within Fi...
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Novo Capital Partners Team Joins CBRE 7/19/22 Gianni Novo and the Novo Capital Partners team have joined CBRE Capital Markets’ Debt & Structured Finance team in Los Angeles. The team is based in CBRE’s West L.A. office.
The team specializes in commercial real estate lo...
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Dalfen Industrial Closes $24.8 Mil Industrial Buy in Otay Mesa 7/18/22 Dalfen Industrial purchased an 86.7k sf, freestanding industrial building in San Diego’s Otay Mesa submarket for $24.85 mil ($287/sf). The property was sold by a partnership between Alcion Ventures and Lincoln Property Compan...
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CBRE Opens Full Floor WorkPlace360 Office at Vegas Mixed-Use Development 7/15/22 CBRE has opened its new 19k sf, full floor office at UnCommons, a 40-acre mixed-use in Las Vegas developed by Matter Real Estate Group. The new space, located at 8548 Rozita Lee Ave, was constructed with WELL certification st...
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Commercial Financing Briefs 7/14/22 GANTRY - Mark Ritchie, Mike Wood and Alex Saunders with Gantry secured a $35.45 mil, fixed-rate, permanent loan to refinance a single tenant, five-story, 200k sf office building located at 1601 Lind Ave SW in the Seattle subu...
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Washington Multifamily Community Lands $67 Mil Recapitalization 7/13/22 Bella Terra Apartments, a 235-unit multifamily complex in Mukilteo, WA, was recapitalized with new financing of $67 mil. The property is by a joint venture between Holland Partners Group and Principal Real Estate Investors, w...
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San Jose Multifamily Development Lands $345 Refi Loan 7/13/22 Bayview Development Group has obtained a $345 mil refi on Miro, a Class A, two-tower, 630-unit, high-rise multi-housing community located in downtown San Jose.
The bold and modern designed, two-tower 28-story Miro features s...
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Institutional Investor Spends $25 Mil on Pair of AZ Retail Assets 7/12/22 An unnamed institutional buyer paid $25.7 million for a retail portfolio comprising two shopping centers totaling 38.3k sf in Phoenix and Scottsdale, AZ. The assets were sold by MDC Realty Advisors, a subsidiary of Epic Inves...
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ViaWest Group to Start Work on 134k sf Denver Industrial Facility 7/11/22 Phoenix-based ViaWest Group is making its first market entry into Denver with plans to construct a 134.4k sf industrial facility just north of downtown. The freestanding, Class A industrial building, Downtown Distribution Cen...
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BKM Capital Partners Closes $38 Mil AZ Industrial Buy 7/08/22 BKM Capital Partners acquired Mesa Ridge Business Park, a seven-building, 153k sf light industrial park in Mesa, AZ for $38.35 mil ($251/sf). The seller was Mesa Ridge Business Park I LLC, a company formed by Randall Investme...
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SWC Development Partners Starts Work on 136k sf Distribution Facility in Surprise, AZ 7/07/22 SWC Development Partners broke ground yesterday on its second building within Skyway Business Park in Surprise, AZ. The 135.9k sf warehouse/distribution facility is located at 11701 North 132nd Ave.
The facility will include...
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Corner Development Site in Hollywood Acquired for Development of Planned Community Campus 7/06/22 A 65.6k sf parcel of contiguous land on the corner of Highland Ave and Sunset Blvd in Hollywood was purchased by Grammy Award-winning songwriter and producer Philip Lawrence. Lawrence, known for his long-time collaboration wi...
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Cogir-Led Venture Buys NoCal Assisted Living Facility 7/05/22 A joint venture between Cogir and a national investment partner spent $39.2 mil for Cortona Park, an assisted living community in Brentwood. Cogir will operate the community and has renamed it Cogir of Brentwood.
Situated o...
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Montecito Medical Buys Medical Office Property in the Dallas Area 7/05/22 Montecito Medical recently acquired a 7.2k sf medical office property in The Colony, an affluent, lakeside suburb approximately 20 miles northwest of downtown Dallas. The building, which opened in 2021, is, 100% occupied by T...
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Florida Company Buys 141k sf Idaho Logistics Facility 7/01/22 A brand new, Class A warehouse/distribution building totaling 141.4k sf on just over 30 acres in Meridian (Boise), Idaho was acquired by Tampa FL-based Carter Exchange, a Carter Funds company. The newly constructed logistics ...
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Scottsdale, AZ Office Trade Works Out to $260/sf 7/01/22 Gainey Ranch Town Center I & II, two Class A office buildings totaling 126.5k sf in the upscale Gainey Ranch trade area of Scottsdale, AZ, sold for $33 mil ($260/sf). The assets were sold by Gainey Ranch Town Properties Inc.
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Gen II Fund Services Leases 73k sf of Office Space in Denver 6/30/22 Gen II Fund Services LLC, a leading independent private capital fund administrator, has agreed to a multi-floor lease for 72.9k sf of space at Belleview Station, a 384.7k sf Class A office and ground-floor retail project in D...
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Brasa Capital Management Closes Second Investment Fund Oversubscribed at $450 Mil 6/29/22 Brasa Capital Management LLC (“Brasa”), has closed Brasa Real Estate Fund II LP (“Fund II”), reaching its hard cap of $450 mil.
With a Fund II target of $300 mil, Brasa has now exceeded its fundraising goal on its first tw...
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