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• Wadsworth Development Group Buys Phoenix Site for Industrial Project
3/24/21
Wadsworth Development Group purchased a 10-acre land parcel located at the Southwest corner of 15th Ave and Pinnacle Peak Rd in the Deer Valley submarket of Phoenix for $6.4 mil. Wadsworth intends to develop a 136k sf, spec i...
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• Draftsmen & Craftsmen
3/24/21
In development news out of Houston, Texas Tower, a 47-story, 1 msf, Class AA office tower project in Downtown Houston, has reached its structural topping out. The building is a development of Hines and Ivanhoé Cambridge.
Des...
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• Investor Pays $588/sf for NoCal Dialysis Clinic
3/23/21
A 1031 exchange investor purchased a newly constructed, 11.4k sf outpatient dialysis clinic in Watsonville, CA for $6.7 mil ($588/sf). The deal had a closing cap rate of 5.15%.
The outpatient clinic is located at 5 Nielson S...
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• CH Projects Buys Historic Lafayette Hotel in San Diego for $25.8 Mil
3/22/21
CH Projects has acquired the historic, 131-room North Park neighborhood for $25.8 mil. The property is located at 2223 El Cajon Blvd, west of I-805 and south of I-8.
The Lafayette Hotel also features an Olympic-size pool and...
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• Former Retail Anchor Building in Santa Barbara is being Repositioned as Office Space
3/22/21
Pacific Retail Capital Partners is repositioning a former Macy’s anchor building at its Paseo Nuevo Shopping Center in Santa Barbara as office space. The structure, located at 701 State St, has been named the Ortega Building....
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• Westlake Village Smart & Final Sells for $22.5 Mil
3/19/21
A 50.2k sf, NNN-leased Smart & Final grocery store in Westlake Village sold for $22.525 mil, or $448/sf. The asset is located within the Westlake Village Marketplace shopping center, across the street from Westlake Business P...
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• New AC Marriott Downtown Phoenix Opens for Business
3/18/21
The newest hotel in downtown Phoenix features exceptional views and high-end features — and is now open for business despite the impact of the pandemic.
The just completed AC Marriott Downtown Phoenix in downtown Phoenix, f...
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• USPS Net-Leased Property in Inglewood Bought for $16.8 Mil by Century Park Partners
3/18/21
Century Park Partners purchased a 22.4k sf, absolute-net ground lease building in Inglewood for $16.8 mil. The property site, totaling 1.65 acres at 8821 Aviation Blvd, west of the 405 Fwy and south of Manchester Blvd, is hom...
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• Work Gets Underway on High-Rise Res Project in Downtown Salt Lake City
3/18/21
Construction has started on a 190-unit, mid-rise and high-rise, mixed-use community at 255 South State Street in downtown Salt Lake City, UT. The project, designed by KTGY Architecture + Planning, is being developed by Brinsh...
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• Libitzky Property Companies Buys 95k sf AZ Industrial Asset
3/17/21
Elliot Park 10, a 95.3k sf, multi-tenant industrial asset in Tempe, AZ, was acquired for $10.5 mil ($110/sf) by Emeryville, CA-based Libitzky Property Companies in an off-market deal. The property was 95% leased at the time o...
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• PCCP LLC and CalSTRS Lead New Venture to Acquire Single-Family Rental Communities
3/17/21
PCCP LLC, together with the California State Teachers' Retirement System (CalSTRS) and a global institutional investor, has formed a joint venture to invest in purpose-built, single-family rental communities located in primar...
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• New Salt Lake City Office High-Rise Signs Two Tenants for Three Floors
3/15/21
95 State at City Creek, a new, 515k sf Class A office tower being developed in the heart of downtown Salt Lake City, UT, has secured its first two tenants, which leased a combined three full floors totaling approximately 75k ...
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• Mountain Capital Partners (MCP) and New Earth Equities Pick Up 99-Unit Res Property in Portland
3/12/21
Harbour Court, a 99-unit apartment community in Portland, OR, was purchased by a joint venture between Mountain Capital Partners (MCP) and New Earth Equities (NEE). MCP partnered with NEE as the LP and was instrumental in the...
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• Investcorp Wraps Up $85 Mil AZ Biz Park Buy
3/11/21
In an AZ biz park trade, Investcorp paid $85.35 mil for Tempe Commerce Park, a five-building, multi-tenant, light industrial park in Tempe. The 536k sf ($159/sf) property was sold by BKM Capital Partners.
Tempe Commerce Park...
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• Trammell Crow Company and Clarion Partners Buys 25 Acres in AZ for Industrial Development
3/10/21
Trammell Crow Company and capital partner Clarion Partners LLC have acquired a 25-acre site for the development of Tolleson 107 Logistics Center, a 332.1k sf logistics facility in Tolleson, AZ that will include 4.6 acres dedi...
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• Luton | Underwood Development Partners Buys 10.6 Acres in Houston with Plans to Develop a Res Community
3/09/21
Houston-based Luton | Underwood Development Partners acquired 10.62 acres of land located at 11514 Trickey Rd in Houston. The majority of the land will be developed for use as a single-family community.
The new ownership pl...
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• Phoenix Townhome Community Traded in $22 Mil Deal
3/09/21
Ara Residences, a newly constructed, 50-unit townhome community in Phoenix, was purchased for $22.05 mil ($441k/unit) by Luna Bear ARA Residences LLC, a California investor completing a 1031 exchange.
The property is locate...
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• Dynarex Corporation Leases 250k sf of AZ Industrial Space
2/19/21
Dynarex Corporation, a medical equipment and supply wholesaler based in Orangeburg, NY, inked a lease for 250k sf of industrial space in the greater Phoenix submarket of Glendale. The space will serve as the firm’s Southwest ...
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• Sacramento-Area, Institutional-Quality Res Community Expected to Fetch Near $105 Mil
2/18/21
A recently developed suburban apartment complex is being marketed for sale in Roseville, a high-growth submarket within Sacramento — one of the best performing metros nationwide for multifamily sector growth.
The institutio...
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• JLL Capital Markets Arranges $173 Mil in Fannie Mae Loans on 14 Res Properties Across the U.S.
2/18/21
JLL Capital Markets has arranged $172.9 mil in financing for 14 multi-housing properties, totaling 1,334 units, located throughout the U.S., on behalf of multiple southern California-based borrowers. The financings consist o...
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