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• Phoenix Raising Cane’s Trades at $2,500/sf
2/18/22
A 3.6k sf, single-tenant Raising Cane’s in Phoenix, AZ, traded for $9 mil, or $2,500/sf. The sale came in at a 3.72% cap rate, setting price and cap rate records for a Raising Cane’s, we’re told.
Built in 2018, the property ...
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• Unique Sports Medicine Facility in Scottsdale, AZ Trades in $9 Mil Transaction
2/18/22
Victorium, a unique 30k sf, integrated sports and sports medicine facility in Scottsdale, AZ, sold for $8.9 mil, or $297/sf. The seller was Victorium, which agreed to lease back the building.
Victorium consists of a unique b...
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• Multifamily Asset in the East Bay is Traded in $23 Mil Deal
2/16/22
Mosaic Apartments, a 62-unit apartment community located in Castro Valley, an unincorporated community in CA’s Alameda County, traded hands in a recent $23 mil ($371k/unit) transaction. The apartment community, situated on 2....
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• Woodside Health Spends $12.5 Mil on AZ Medical Mixed-Use Asset
2/16/22
Woodside Health acquired Il Palazzo at Arrowhead Ranch, a 44.7k sf, mixed-use medical office and retail property spanning five buildings in Glendale, AZ, in a $12.5 mil ($280/sf) transaction. Woodside is a Cleveland, OH-based...
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• Suburban Office Park in Phoenix Goes for Over $200/sf
2/15/22
West 101 Business Center, a 118.9k sf, multi-tenant suburban office park in Phoenix, was acquired for $24.7 mil ($208/sf) by Higley Project LLC, a Wyoming-based investor. The property, located at 1830, 1840 and 1850 N 95th La...
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• Silver Point Development Starts Work on 204k sf CO Industrial Project
2/15/22
Silver Point Development has broken ground on Buildings 1 and 2 (94k sf and 109.7k sf respectively) of Phase I within Elevation25 industrial park located at Weld County Road 9-1/2 and Hwy 66 in Mead, CO. With construction now...
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• Office Building in Brentwood Goes for $780/sf
2/11/22
A three-story, 24.3k sf office building in Brentwood, on Los Angeles’ Westside, sold for $19 mil, or $781/sf. The building, located at 11440 San Vicente Blvd, was partially vacant at the time of sale. The new owner plans to o...
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• Phoenix Area Industrial Property Snapped Up in $27.5 Mil Deal
2/09/22
A 227k sf, single-tenant industrial property in the Phoenix Metro area submarket of Tolleson was purchased for $27.5 mil ($121/sf) by an undisclosed institutional buyer. The property was sold by Stos Partners, who acquired th...
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• Phoenix Office/Medical Campus Gets New Owner in $18 Mil Deal
2/08/22
The Brookstone, a two-building, 126.5k sf (288/sf) office and medical campus in the heart of Midtown Phoenix, was purchased by a San Diego-based investor for $18.2 mil ($144/sf).
The two buildings, located at 340 E Palm Lan...
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• Premier Workspaces Partners for Another QWork in Warner Center
2/07/22
Irvine-based Premier Workspaces is partnering with California Home Builders to open their second partnered location, QWork Topanga. The new 9.2k sf, private office and coworking space is located on the ground level of The Q T...
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• Base Equities Teams Up with Alex Brown Realty in Joint Venture Partnership
2/07/22
Los Angeles-based Base Equities has entered into a strategic joint venture partnership with Alex. Brown Realty (ABR), an independent real estate investment manager specializing in value-add, opportunistic, and core-plus inves...
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• PaulsCorp Buys Newly Constructed Distribution Project in Las Vegas
2/07/22
PaulsCorp, a family-based developer, purchased Interchange Industrial Center, a newly constructed, 689.5k sf distribution project in Las Vegas. The two-building, Class A project was 100% leased at the time of sale.
Built i...
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• TruAmerica Multifamily Launches Build-For-Rent Division
2/03/22
TruAmerica Multifamily has launched a Build-For-Rent (“BFR”) development division to build townhome and single-family rental communities in suburban submarkets. The initial roll-out of TruAmerica’s in-house BFR platform will ...
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• LA North Studios Leases 70k sf Valencia Facility for Conversion to Sound Stage Space
2/03/22
LA North Studios inked a lease for a 70.6k sf industrial building in Valencia. LA North is an independent full-service film and television studio founded in 2019 by Anthony Syracuse and John Prabhu. Terms of the deal were not...
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• Sansome Pacific Closes $20 Mil National Portfolio Buy
2/01/22
Sansome Pacific, a San Francisco, CA-based real estate investment management firm, has completed the $20.6 mil acquisition of a value-add portfolio of 10 retail and hotel properties. The properties are located in six states ...
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• SB Real Estate Partners Picks Up 114-Unit AZ Multifamily Property
2/01/22
SB Real Estate Partners (“SBREP”) has acquired Bloom 24, a 114-unit garden style multifamily community in Phoenix, AZ for $34.2 mil, or $300k per unit.
Built in 1973 and located at 2323 East Flower St, the property will be ...
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• Chinese Hospital in San Francisco Lands $103 Mil in Commercial Property Assessed Clean Energy Funding
1/31/22
GreenRock Capital LLC (GreenRock) successfully led $103 mil in Commercial Property Assessed Clean Energy (C-PACE) funding for Chinese Hospital, located at 845 Jackson St in San Francisco. We’re told this is the largest singl...
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• Tru Development Locks Up New Financing of $246 Mil on Two Nevada Res Properties
1/28/22
Tru Development has obtained $246 mil in construction debt, Co-GP equity and LP equity across two apartment development projects totaling 716 units in Nevada. They were advised in the transaction by Lucent Capital.
KaktusLif...
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• Cypress Equity Investments Completes Construction of 186-Unit Tacoma Res Community
1/27/22
Cypress Equity Investments (CEI) has completed construction of Hailey, a 186-unit apartment community in the heart of Tacoma. Located at 1210 Tacoma Avenue S at 13th St, Hailey offers a mix of studio, one-bedroom and two-bedr...
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• Davlyn Investments Buys 312-Unit Res Property in North Las Vegas
1/26/22
Davlyn Investments recently acquired Sonata, a 312-unit, Class A, multi-family community in North Las Vegas, in a $77 mil transaction that works out to $247k/unit. Built in 2009, the property is located at 4201 E Craig Rd, ju...
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