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• RXR and Korman Communities Acquire New 400-Unit Luxury Res Development in Phoenix
7/02/24
A venture between RXR and Korman Communities acquired The Blake, a 400-unit luxury multifamily community in Phoenix. The property was sold by a venture between StreetLights Residential and an affiliate of RED Development.
Th...
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• Upscale Retail Center in Malibu Trades in a Deal Worth Near $2,000/sf
7/02/24
The Park at Cross Creek, an upscale, 39.4k sf retail center anchored by a custom-built Whole Foods Market in Malibu, has traded hands. Situated on just under six acres at 23401 Civic Center Way, the asset was sold by The Gers...
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• King County in Washington Buys Historic Dexter Horton Building in Seattle
7/01/24
King County in Washington has acquired the landmark Dexter Horton Building, a 16-story, 389k sf office building in downtown Seattle. The structure, built in 1922-1924, was acquired for $36.6 mil.
Located at 710 2nd Ave, the ...
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• Office Property Sells for $18 Mil in Owner-User Deal
7/01/24
Hampton Tedder Electric purchased a 98.9k sf, Class A office building in the city of Orange for $17.9 mil ($181/sf). The buyer plans to occupy the 15.7k sf top floor at the building, located at 999 Town & Country.
The four-s...
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• Mill Creek Residential Buys 290-Unit TX Res Community
6/28/24
Boca Raton-based Mill Creek Residential acquired The Park on Brodie Lane, a 290-unit multifamily asset located at 6607 Brodie Lane in Austin, TX. The price was not disclosed.
Situated across 39 acres, The Park on Brodie Lan...
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• Schnitzer Properties Starts Work on 295k sf Industrial Project in Goodyear, AZ
6/28/24
Portland-based Schnitzer Properties has started construction on Palm Valley Commerce Center, a 294.8k sf, Class A industrial project in Goodyear, AZ. Located at Auto Drive and 137th Ave in the rapidly expanding Phoenix-Goodye...
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• Large 262-Acre Development Parcel in Bend, OR Being Marketed for Sale
6/27/24
Oregon Department of State Lands has put on the market 262 acres of developable land in Bend, OR. Referred to as the Stevens Road Tract – Phase II, the property is within the City of Bend Urban Growth Boundary and presents th...
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• Luxury Res Development in Sunnyvale is Completed and Available for Leasing
6/26/24
Leasing is underway at The Martin, a new 479-unit, apartment community in downtown Sunnyvale. The 12-story project, a development of Sares Regis Group of Northern California (SRGNC), is located at 240 S. Taaffe St, south of C...
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• BKM Capital Partners Spends $62 Mil on Portland Industrial Asset
6/25/24
BKM Capital Partners (BKM) has acquired Columbia Commerce Park, a 10-building property in Portland’s Airport submarket. The Newport Beach-based real estate fund manager and operator paid $62.7 mil for the multi-tenant light i...
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• 400-Unit Phoenix Res Development Lands $120 Mil in Construction Money
6/24/24
VeLa Development Partners has obtained $120 mil in construction financing for the development of Ray Phoenix, a 401-unit, 26-story multi-family residential building located in downtown Phoenix. The financing was arranged by J...
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• Lincoln Property Boosts Amenities at New AZ Office Project to Better Meet Current Tenant Needs
6/21/24
Lincoln Property Company plans to include an expanded amenity package and move-in-ready speculative office space at Union Building One, the first of four Class A office buildings they are developing in partnership with Harvar...
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• Portfolio of Six Gas Stations in Las Vegas and Phoenix Fetches $39 Mil
6/21/24
LV Petroleum LLC has sold a portfolio of six gas station properties in the Phoenix and Las Vegas metros to separate buyers in deals totaling $39 mil. The seller will lease-back all of the properties with 20-year, absolute tri...
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• Trammell Crow Company Picks Up San Fernando Valley Site for 350-Unit Res Project
6/20/24
Trammell Crow Company has purchased a 4.78-acre site in the San Fernando Valley with plans to build a residential development on the property. High Street Residential, TCC’s residential subsidiary, will develop the 350-unit m...
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• Cityview Buys 130-Unit Bay Area Res Community
6/19/24
Cityview has acquired Tralee Village Apartments, a 130-unit multifamily project in the Bay Area city of Dublin. The three-story project is spread across two buildings and sits above more than 30k sf of curated ground-floor re...
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• Carlsbad Biz Park Goes for Over $19 Mil
6/18/24
Arroyo Business Center, a 64k sf, multi-tenant light industrial park in Carlsbad, was purchased for $19.3 mil ($301/sf) by an unnamed global private equity firm. Located at 6352 and 6354 Corte Del Abeto, the North San Diego C...
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• Millburn & Company Buys 220-Unit AZ Multifamily Property
6/18/24
Landing at Fiesta Village, a 220-unit apartment property in Mesa, AZ, was acquired by. The asset was sold by a venture between Boston-based real estate private equity firm Rockpoint and P.B. Bell.
The Landing at Fiesta Villa...
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• J.H. Snyder Completes Renovation of 530k sf Office Property in L.A.’s Miracle Mile Area
6/17/24
J.H. Snyder has completed a multi-million-dollar renovation at 5757 Wilshire Boulevard, a Class A, 11-Story office building totaling 530k sf in L.A.’s the Miracle Mile submarket. In addition, there have been multiple leases t...
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• AZ Biz Park Trades in $33 Mil Transaction
6/17/24
A joint venture of Bendetti and Westport Capital Partners paid $32.9 mil for Broadwood Business Centre, a 156.2k sf ($210/sf), multi-tenant light industrial property in Mesa, AZ. The Southeast Valley business complex can acco...
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• San Jose R&D Facility Lands New Owner
6/14/24
A Blue Owl Capital-managed fund acquired 1010 Rincon Circle, a 90.9k sf, state-of-the-art R&D facility in San Jose. The price was not disclosed.
The property is 100% leased to Quanta Cloud Technology (QCT), a publicly traded...
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• Commercial Real Estate Financing Briefs
6/13/24
CUSHMAN & WAKEFIELD EQUITY, DEBT & STRUCTURED FINANCE -- Rob Rubano, Brian Share, Max Schafer, Lars Weston and Billy Coyle with Cushman & Wakefield secured $64.1 mil in financings for the acquisition of a Class A industrial p...
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