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November 29, 2023
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NEWS HEADLINES


Harbor Associates LLC and Evergen Equity Spend $55 Mil on L.A. Area Industrial Portfolio
11/28/23
Purchase is for 126k sf of improvements on 7.5 acres

Creation and Clarion Partners Form Venture for Phoenix Industrial Development
11/22/23
Partnership to build 1.3 msf spec park in the city’s West Valley

Constellation Real Estate Partners and Northwestern Mutual Acquire 33 Acres in the Dallas Fort Worth Airport Submarket
11/21/23
Partnership to develop a 546k sf industrial project on the site

MG Properties Closes on $100 Mil AZ Res Buy
11/20/23
Deal for NOVO Broadway Apartments in Tempe works out to $309k/unit



Bayhill Ventures Announces Plans for 672-Unit Res Project in Downtown San Francisco
11/17/23
530 Howard Street will replace a parking lot and a four-story office building

Silicon Valley Res Project is Nearing Completion with Pre-Leasing Underway
11/16/23
389-unit Vida is a development of MBK Rental Living and Haseko Corporation

Waterfront Redevelopment Opportunity Listed in Downtown Long Beach
11/15/23
4.73-acre site is part of the Golden Shore masterplan

Dart Interest Buys 2.3-Acre Development Site in Downtown Salt Lake City
11/15/23
Two-parcel property currently consists of a vacant data center and a parking lot

First Retail Tenants at New Hollywood Park Mixed-Use Campus Project Have Opened their Doors
11/14/23
Upon build-out, 300-acre development expected to offer 2,500 residences, a 300-room hotel, up to 890k sf of retail and up to 5 msf of creative office space

Westcore Spends $82 Mil on Reno Distribution Facility
11/14/23
Firm buys 632k sf building in the Tahoe-Reno Industrial Center

Whole Foods Signs Deal for New 137k sf Distribution Facility in Colorado
11/13/23
Build-to-suit is for Building 2 at HighPoint Elevated in Aurora

Hines and MBK Rental Living Get Started on Luxury Res Community in Colorado Springs, CO
11/10/23
Retreat at Mountainside will offer 284 rental units in a range of sizes and layouts

Demolition of The Yardstick Site Presents Prime Redevelopment Opportunity in Downtown Salt Lake City
11/09/23
Urban site of 0.6 acres anticipated for potential new mixed-use development

West Covina Apartment Property Trades for $40 Mil
11/09/23
B.A.G. Investments Inc purchases 140-unit Sunset Square for $286k/unit

Cerritos Office Building is Traded
11/08/23
Deal is for 192k sf asset at 18000 Studebaker Road

Panattoni Development Company and Crow Holdings Capital Land $252 Mil in Construction Money for Washington Industrial Project
11/07/23
PCCP LLC provides financing for 2.15 msf first phase of FRED 310 in Fredrickson

MG Properties Wraps up $95 Mil Denver Multifamily Buy
11/06/23
Deal is for 316-unit 4400 Syracuse Apartments

Torani Inks Lease for New 202k sf Warehouse Development in San Leandro
11/03/23
Structure is being built by Prologis and is expected to be completed in late 2024

2.2 msf Texas Mixed-Use Campus Trades Hands
11/02/23
Deal is for State Farm-occupied Cityline in Richardson

San Fernando Valley Res Community Sale Goes for $106 Mil
11/01/23
280-unit Summerset Village comes in at $381k/unit

Parklane Development Group and Miramar Industrial Partners Complete Work on 1.2 msf AZ Logistics Project
10/31/23
Southern Industrial Center consists of a single spec facility

Dominium Finishes One Phoenix Housing Project While Breaking Ground on Two Others
10/30/23
Trio of developments will add over 950 affordable units to the region

Milhaus and Banyan Residential to Build 320-Unit Phoenix Multifamily Project
10/30/23
McShane Construction Company handling construction services for Alanna

Res Community in L.A.’s Playa Vista Area Lands New Loan of $115 Mil
10/27/23
JLL arranges financing on 405-unit The Ventana Luxury Apartments

ViaWest Group Breaks Ground on Final Phase of AZ Industrial Development
10/27/23
Fourth building at Goodyear Crossing Industrial Park to offer 87k sf of space

Pomona Res Community Sells in $35 Mil Transaction
10/26/23
138-unit Terramonte at Foothill goes for $257k/unit

Tidewater Capital Investment Fund Exceeds Initial Target of $200 Mil
10/26/23
Firm’s third discretionary fund has a $250 mil cap

Green Leaf Capital Partners Buys 141-Unit Res Community in North Portland
10/25/23
The Perch PDX is located in the city’s desirable Overlook neighborhood

Trammell Crow Company Starts Work on First Phase of AZ Industrial Project
10/24/23
At build-out, Cotton Lane Commerce Park in Goodyear will offer 1 msf of industrial space

Cityview Wraps Up Work on 123-Unit Res Project in L.A.’s Pico-Robertson Area
10/20/23
The Parker is built to LEED Silver standards

Saddle Creek Logistics Services Leases 571k sf AZ Industrial Building
10/20/23
New facility features 40-foot clear height

LPC Desert West Starts Work on $515 Mil Industrial Project in Phoenix
10/19/23
Luke Field to contain 2.4 msf of space in three buildings

AIDS Healthcare Foundation Spends $20 Mil on Carson Distribution Facility
10/19/23
54k sf structure sits on a 107k sf lot

Commercial Real Estate Financing Briefs
10/18/23
$275 mil of deals from Tower Capital, JLL Capital Markets, BWE and Marcus & Millichap Capital Corporation

Longpoint Partners Acquires 275k sf Industrial Asset in the City of Industry
10/17/23
15-building John Reed Commerce Center was 83% leased at time of sale

WHAT'S NEW
Sales Volumes in L.A. County's Commercial Real Estate Drop as Cap Rates Rise Amid the Fed's Rate Pause
11/13/23
3rd quarter report from NAI Capital Commercial suggests interest rates, taxation changes and shifting market dynamics responsible for changing market conditions

L.A. County Retail Vacancies Hit All-Time High of 18.2 msf
10/26/23
NAI Capital Commercial third quarter 2023 snapshot of the market suggests downturn is slowing

Register Now - San Diego CRE Conference on Nov 7th
10/24/23
RENTV is presenting its San Diego State of the Market Conference on Tuesday, November 7, 2023 at the Westin Carlsbad Resort & Spa. Learn more here

Watch Interview with The Saywitz Company President and Founder Barry Saywitz in New Episode of CRE Talk with Steve & Arnie
10/16/23
Steve Bloom of RENTV and Arnie Garfinkel of All Star Group interview Barry Saywitz, President and Founder at The Saywitz Company, a commercial real estate brokerage firm, and at Saywitz Properties, which owns and manages apartment properties throughout Southern California.

Los Angeles County Industrial Market Shifts Amid Supply Surge in Vacant Sublease Space
10/10/23
Latest update from NAI Capital Commercial shows a turnaround for the sector

Headwinds Persist in Phoenix Office Recovery
10/09/23
Third quarter report from JLL shows continued rise in negative net absorption and sublease inventory

San Diego Industrial Leasing Sees Decline in 3rd Quarter
10/05/23
Kidder Mathews shares update on the sector

Silicon Office Vacancy Rate Hits 21% in 3rd Quarter 2023
10/03/23
Kidder Mathews provides update on the market

 
ETC. ETC...
Commercial Real Estate Financing Briefs
11/28/23
Recent transactions from CBRE Capital Markets, JLL Capital Markets and Gantry

Cypress West Partners Finishes Work on AZ Medical Office Building
11/28/23
22k sf Ocotillo Medical Collaborative is fully leased to five tenants

Bridge Logistics Properties Picks Up 84k sf East Bay Logistics Facility
11/21/23
Newark warehouse property is fully leased by Vital Records Control

Central CA Industrial Facility Refinanced with Loan for $42 Mil
11/21/23
PCCP LLC provides money for 610k sf building in Lathrop

Henderson, NV Building Gets New Owner in $13 Mil Sale/Leaseback Deal
11/21/23
34k sf single-tenant asset is the corp HQ for Green Valley Grocery

Nevada Industrial Asset Traded in $9.5 Mil
11/20/23
56k sf facility in Henderson goes for $171/sf

Steinhauer Properties Acquires Long Beach Site for Planned Hard Rock Hotel
11/17/23
Gantry arranges $8.75 mil for land buy

Premier Workspaces Looks to Acquire Locations as WeWork Exits Leases Amid Bankruptcy
11/17/23
National operator in a position to take over some centers

Sonoma County Hotel Project to Move Forward Thanks to $62 Mil in C-PACE Funding
11/17/23
108-key Appellation Healdsburg set to open in 2025

Luxury Amenity Space Slated to Open September 2024 at San Francisco Office Tower
11/16/23
The Cove to occupy 29k sf on the 7th floor at 525 Market Tower

Multi-Tenant AZ Office Asset Traded in $26.5 Mil Deal
11/15/23
Transaction is for 139k sf Scottsdale Northsight building

L.A. Medical Center Wins Multi-Million Dollar Tax Dispute with LA County Assessor
11/15/23
Paramount Property Tax Appeal gets valuation dropped from $114 mil to $44.5 mil

New 222-Unit Res Development in Livermore Opens to the Public
11/14/23
Legacy at Livermore was designed by BDE Architects

Phoenix Medical Office Campus Trades
11/14/23
Deal is for nine-building Paradise Valley Professional Campus

I-40 TradePort Corridor Awarded $974k to Develop Network of Clean Energy Logistics Hubs on the West Coast
11/10/23
Work to start on a stretch between Kingman and Winslow in northern Arizona

Crosse Partners Spends $10.9 Mil on Colorado Industrial Park
11/08/23
101k sf Moncrieff Business Center in Aurora sold by of Zurich Alternative Asset Management affiliate

MIG Real Estate Pays $30 Mil for 100k sf OC Biz Park
11/07/23
Firm picks up six-building Mission Viejo Business Center

Bacchus Management Group to Open New Restaurant at 220 Park Project Nearing Completion in Downtown Burlingame
11/07/23
Restaurant will occupy 8k sf historic Burlingame Post Office space being integrated into the new building

Hanley Investment Group Kicks Off its 13th Year of Movember Fundraising to Support Men's Health
11/06/23
Hanley has raised $334,400 for Movember, the leading global charity dedicated to changing the face of men's health in the U.S. and around the world.

Freedom West Homes Corporation Secures $27 Mil in Funding Commitments for Housing for People of Color in San Francisco
11/06/23
Money will be used to help replace thousands of homes the city lost years ago through “urban renewal”

CentrePoint Properties Buys 99k sf CO Biz Park
11/03/23
Longmont purchase works out to $169/sf

MVE + Partners Takes Home Multiple Design Awards from American Institute of Architects (AIA)
11/02/23
Architecture firm honored by OC and Utah chapters of AIA

Work Underway on New 70k sf Building for Malibu High School
11/02/23
State-of-the-art structure is being built by C.W. Driver Companies

J.P. Harlow Joins Rockefeller Group as Managing Director
11/01/23
Veteran CRE exec will be responsible for expanding firm’s presence on the West Coast

Bellevue, WA Office Building Trades for $558/sf in Sale/Leaseback
11/01/23
First Citizens Bank buys 33k sf structure from The Pacific Cataract and Laser Institute

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