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June 16, 2024
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NEWS HEADLINES
San Jose R&D Facility Lands New Owner
6/14/24
Blue Owl Capital-managed fund buys 91k sf property leased to Quanta Cloud Technology

Commercial Real Estate Financing Briefs
6/13/24
$158 mil in recent transactions from Cushman & Wakefield, BWE, Tower Capital and Gantry

Commercial Real Estate Financing Briefs
6/12/24
Recent transactions from JLL Capital Markets, Gantry and Calmwater Capital

SoCal Industrial Portfolio Sold in Two Transactions Totaling $74 Mil
6/11/24
Deals are for six buildings totaling 387k sf in San Marcos and Temecula

Federal Realty Investment Trust Collects $103 Mil from Sale of Properties Along Santa Monica’s Third Street Promenade
6/11/24
Deal is for eight buildings containing 185k sf of space

Multifamily Asset in Sacramento’s Elk Grove Submarket Trades for $77 Mil
6/10/24
Deal is for 264-unit The Artisan

Leasehold Interest in Phoenix Office Campus Goes for $44 Mil
6/07/24
535k sf Sky Harbor Center trade is the largest office sale so far this year in Phoenix Metro

Decron Properties Closes $99 Mil Retail Buy in San Diego
6/07/24
Firm buys 239k sf Mira Mesa Market West Shopping Center

Arizona Multifamily Community Purchased by Kairoi Residential / German American Realty Venture in a $161 Mil Deal
6/07/24
365-unit Carter is located in Scottsdale

Walker Family Breaks Ground on New 3.8 msf Class A Logistics and Cold Storage Development in Laredo, TX
6/06/24
Township Logistics Park at Talise will offer spec and build-to-suit space

EQT Exeter Wraps Up $70 Mil Washington Industrial Buy
6/06/24
Firm acquires 365k sf of Class A buildings in Arlington

Three-Building, 412k sf Peoria, AZ Industrial Project Completed
6/05/24
Development is part of Greystar’s 88-acre Peoria Place masterplan

Empire Group of Companies Lands $47 Mil for Construction of Texas Build-to-Rent Project
6/05/24
Financing for 217-unit Village at Mayfair in Braunfels arranged by Tower Capital

Intercontinental Real Estate Corporation and Kennedy Wilson Spend $71.8 Mil on Stockton Industrial Facility
6/04/24
Stockton Commerce Center contains 656k sf of space on over 36 acres

AMCAL Housing Nabs $101 Mil Refi on 335-Unit Res Community in Woodland Hills
6/03/24
Gortikov Capital arranges new loan on The Clarendon

Chatham Lodging Trust Acquires 148-Room Hotel Property in Phoenix
6/03/24
$43 mil purchase is of the Home2 Suites by Hilton Phoenix Downtown hotel

South OC Office Asset Traded in $42 Mil Deal
5/31/24
MicroVention spends $183/sf for 243k sf building in Aliso Viejo

Commercial Real Estate Financing Briefs
5/31/24
Recent transactions from CBRE Capital Markets, BWE and JLL Capital Markets

Younan Properties Buys Phoenix Office High-Rise in $25 Mil Transaction
5/30/24
350k sf tower at 3200 North Central Ave goes for $70/sf

Advanced Real Estate Adds 68-Unit OC Res Community to Its X Fund
5/30/24
Firm picks up Beachpoint in Huntington Beach in $25 mil deal

Rexford Industrial Spends $143 Mil on Two SoCal Buys in May
5/30/24
The firm also sells three properties for $37 mil during the month

PATH Ventures Finishes Supportive Housing Project in the City of Carson
5/29/24
111-unit development was built by R.D. Olson Construction

La Salle Investment Management Sells Two Playa Vista Office Assets for $75 Mil
5/29/24
One of the properties was The Annex, a 132k sf low-rise creative office project

Commercial Real Estate Financing Briefs
5/28/24
Recent transactions from CBRE Capital Markets, Gantry and JLL Capital Markets

First Link Apartments℠ in CA Has Started Leasing in Oakland
5/27/24
157-unit development is in the city’s Jack London Square neighborhood

Monterey Park Res Development Secures $15.5 Mil in C-PACE Financing
5/24/24
Money is for 63-unit Whitmore Villa project

Tempe Res Development Finishes Construction
5/23/24
199-unit Vero developed by Transwestern Development Company in a venture with Globe Corporation and University Realty

Community Preservation Partners Acquires 102-unit San Jose Senior Housing Project
5/22/24
Firm’s total investment to purchase and renovate Corinthian House estimated at $38 mil

Denver Golf Club Acquired by NY-Based LCP Group
5/21/24
Trade is for 29.5-acre Green Valley Ranch Golf Club

Santa Monica Office Project Completed
5/20/24
65k sf complex was built by C.W. Driver Companies for Redcar Properties

Flexible Gilroy Building Sells for $13.8 Mil
5/17/24
125k sf facility can accommodate a variety of commercial uses

Just Completed Res Development Brings 195 Units to South San Francisco
5/17/24
Celeste was developed by Sares Regis Group of Northern California and designed by BDE Architecture

GMD Development and WNC & Associates to Build 182-Unit Affordable Housing Project in Seattle
5/16/24
Victory Northgate will include studios, one-bedroom, two-bedroom and three-bedroom units

Stockbridge Buys 540k sf Inland Empire Industrial Portfolio for $142 Mil
5/16/24
Acquisition is for two buildings in Ontario

DTLA’s Gas Company Tower Listed for Sale
5/15/24
JLL marketing the 52-story office tower one year after it went into foreclosure

Rockefeller Group Starts Work on Two Build-to-Rent Communities in Phoenix
5/15/24
Projects are being constructed by Mosaic and will total 152 units

Newly Constructed AZ Logistics Center Sold in Two Deals Totaling $118.6 Mil
5/14/24
Deals work out to $147/sf for 806k sf Tucson Commerce Center

Bell Partners Completes $146 Mil Res Buy in the Inland Empire
5/14/24
Firm acquires 492-unit Silverado Apartment Homes in Murrieta

Colorado Medical Office Building Gets New Owner
5/13/24
Chicago-based fund buys 75k sf Orchard Park Medical Center in Westminster

Millburn & Company Pays $243k/Unit for Newly Constructed AZ Res Community
5/10/24
258-unit Parc Tolleson goes for $62.75 mil

WNC & Associates Closes $300 Mil Equity Fund
5/10/24
Fund is invested in 24 properties totaling roughly 2,400 units in 16 states

JPI Picks Up Site at Mosaic Redevelopment Project in Downtown Long Beach
5/09/24
1.58 acres entitled for 272 res units and ground floor retail

Vertical Ventures Buys 137k sf, Class A Office Asset in Scottsdale, AZ
5/08/24
Deal is financed with $34 mil arranged by Cushman & Wakefield

Colliers and Hilco Awarded Marketing and Disposition of Oceanwide Plaza
5/08/24
Team tasked with finding the right developer to complete the massive 1.5 msf project in time for 2028 Summer Olympics

ViaWest Group Picks Up 94k sf Industrial Asset in Phoenix
5/07/24
Single-tenant property is 100% leased to Copper State Bolt & Nut Company

AAA Management Lands $78 Mil in Construction Money for 251-Unit San Diego Res Development
5/07/24
CBRE arranges money Ion Clairemont project in Kearny Mesa

Albanese Cormier Buys 162k sf Retail Center in Rancho Mirage
5/07/24
Rancho Las Palmas anchored by Amazon Fresh, CVS and Hobby lobby

Dalfen Industrial Picks Up 340k sf Industrial Facility in the Inland Empire
5/06/24
Class A San Bernardino property sold by Bixby Land Company

Trammell Crow Company and CBRE Investment Management Finish Work on 500k sf Bay Area Biz Park
5/03/24
Cochrane Technology Center consists of five buildings over 30 acres in Morgan Hill

Galveston, TX Luxury Condo Project to Move Forward with $100 Mil in Construction Money
5/02/24
Financing is for Satya’s 63-unit Tiara on the Beach development

Fundrise Lands $125 Mil on Four-Property Logistics Portfolio
5/02/24
Cushman & Wakefield arranges money on Phoenix, Vegas and Dallas assets through Franklin BSP Realty Trust

Workforce Housing Project in Central Maui Opens to the Public
5/01/24
324-unit Kaulana Mahina Apartments was developed by a venture that includes Legacy Partners and AFL-CIO Building Investment Trust

Phoenix Office Asset Trades in $86 Mil Transaction
5/01/24
308k sf 24th at Camelback building fetches $279/sf

Washington Apartment Property Sells for $53 Mil
4/30/24
186-unit community in Renton sold by New York Life Real Estate Investors

Kennedy Wilson and Haseko Corporation Team Up in $90 Mil WA Multifamily Buy
4/30/24
Venture acquires two newly built communities in Vancouver totaling 350 units

Mission Rock Partners Development Team Completes Five-Acre Park in San Francisco’s China Basin Neighborhood
4/29/24
Project is central to mixed-use development by a partnership of the San Francisco Giants, Tishman Speyer and the Port of San Francisco

Meta Housing Corp Starts Work on Affordable Housing Project in the West San Fernando Valley
4/29/24
The Alcove will add 173 new res units in Woodland Hills

EQT Exeter Spends $60 Mil on Newly Developed AZ Logistics Building
4/26/24
Purchase is of 642k sf building on 40 acres in Buckeye

Work Wrapping Up on New 254-Unit Res Tower in San Francisco’s Mission Rock Neighborhood
4/25/24
23-story project developed by a partnership of the San Francisco Giants, Tishman Speyer and the Port of San Francisco

Lincoln Property Company Locks Up 562k sf of Pre-Leasing at 1.6 msf North Las Vegas Industrial Development
4/25/24
Signings bring Windsor Commerce Park to over 35% leased 10 months before completion

MBK Rental Living Wraps Up Work on New 389-Unit Res Community in Silicon Valley
4/24/24
Vida at Morgan Hill has begun leasing to residents

Greystar Completes 1 msf of Spec Industrial Space in Mesa, AZ
4/23/24
Project represents phase I of 2.1 msf Gateway Grand development

Downtown Burbank to Gain Almost 1,000 Housing Units and Hotels as the City’s CBD Continues to Evolve
4/22/24
New additions to include a 573-unit, mixed-use project from LaTerra Development

Sacramento Office Property Acquired by Chavez Management Group in a $44 Mil Deal
4/19/24
The firm buys the two-building, 419k sf Natomas Corporate Center

Decron Properties Picks Up Res Community in $69 Mil Transaction
4/18/24
Purchase of 266-unit Hangar at Thunderbird in Glendale works out to $260k/unit

Commercial Real Estate Financing Briefs
4/18/24
Recent transactions from Gantry, Northmarq Capital, Marcus & Millichap Capital Corporation and Avatar Financial Group

WHAT'S NEW
Los Angeles’ Multifamily Investment Market Picking Up as Investors Look to Move Capital Away from Office and Single-Family Products
6/12/24
Avison Young Offers a quick snapshot of current industry investment sentiment for the region

Seattle Hotels Forecasted to Exceed Pre-Pandemic RevPAR Levels This Year
6/10/24
CBRE predicts record numbers to be at 104% of 2019 figures

Don't Miss RENTV's Greater Los Angeles State of the Market Conference on June 27
5/22/24
Hear high-powered panels of top local executives and dealmakers discussing the Office, Retail, Industrial, Multifamily and Finance markets throughout the region.

Retailers and Wholesalers Overtook 3PL Providers as Top Drivers of Big-Box Warehouse Demand in 2023
5/13/24
CBRE report shows Puget Sound was one of the few big-box markets to increase lease transactions year-over-year

Opportunities Arise Amidst Challenges in L.A. County’s Retail Market
5/10/24
1st Quarter 2024 Outlook from NAI Capital Commercial discusses the region’s changing retail landscape

Agriculture Land Values in the Imperial Valley Continue to Demonstrate Consistent Growth
4/26/24
Per Cushman & Wakefield report, land sales in the region reached a seven-year high in 2023

Phoenix Industrial Market Sees 10 msf of New Deliveries in the 1st Quarter 2024
4/18/24
Latest report from Avison Young shows the region leading the nation in new product development

Sacramento Office Market Continues to See Increasing Vacancy Rates
4/15/24
Kidder Mathews offers 1st Quarter update on the market

LA County Office Market Grapples with Record Vacancies
4/12/24
NAI Capital Commercial provides 1st Quarter 2024 update on the sector

Washington State Ranks as Top Ten Market in the U.S. for Data Center Leasing
4/10/24
Central Washington had an all-time vacancy low of just 0.2% at 2H 2023 while Seattle ended the year at 7.2%

Ventura County Industrial Rates Remain Steady as Vacancies Increase Slightly
4/09/24
1st Quarter 2024 review provided by Kidder Mathews

Phoenix Office Rental Rates Rise, Despite Increasing Vacancy Rates
4/05/24
Kidder Mathews provides 1st Quarter 2024 market update

Multifamily Sector Leads the Commercial Real Estate Market in L.A. County
4/02/24
1st Quarter 2024 CRE Market Trends report from NAI Capital Commercial also offers an update on the industrial, office and retail sectors

 
ETC. ETC...
Driftwood Capital Starts Work on Marriott Hotel Project in San Diego’s Mission Valley Area
6/14/24
150-key Element Hotel was designed by AO and is being built by R.D. Olson Construction

Liv Communities and Rockefeller Group Wrap Up Work on AZ Res Community
6/13/24
Sol38 by Liv offers 360 upscale units in Laveen

Founders Properties Picks Up 162k sf Phoenix Industrial Project
6/11/24
Purchase is of two-building 21st Street Center in the city’s Airport submarket

Palladius Capital Management Acquires 694-Bed Student Housing Property in Texas
6/11/24
Firm picks up The Luxx in San Antonio

Berkeley Property Purchased for Student Housing Development
6/11/24
Buyer to build 52-unit, 232-bed project on 0.43-acre site

George Oliver Teams with Ascentris in Purchase of Office Building in Old Town Scottsdale
6/10/24
Venture to redesign and reposition the 162k sf property

Chicago Multifamily Owner Buys 254-Unit Texas Res Asset
6/10/24
Company buys Oaks on Marketplace in Kyle

Building Block Foundation Fund to Hold Annual White Party Charity Fundraiser on August 21, 2024 at Newport Dunes in Newport Beach
6/07/24
CapRock Partners returns as the event’s title sponsor

Bendetti-Led Venture Picks Up 257k sf TX Industrial Property
6/07/24
Proto Park in Dallas was 100% leased at time of sale

Community Preservation Partners Picks Up Affordable Housing Project in Ellensburg, WA
6/06/24
Firm will upgrade 168-unit Crestview Terrace

Work Finished on New $38 Mil STEM Building on Menifee Campus of Mt. San Jacinto College
6/05/24
57k sf structure was built by C.W. Driver Companies

Recently Completed Fort Worth Industrial Facility Trades
6/05/24
267k sf property is fully occupied by GITI Tire

Multifamily Property in Vancouver, WA Goes for $26.7 Mil
6/04/24
182-unit Thunderbird Village gets $147k/unit

Affordable Housing Project in L.A.’s Koreatown Neighborhood Set to Go with $24 Mil in Construction Money
6/04/24
Colliers arranges loan for 136-unit Kingsley Apartments

Hollywood Office Building Sells in $25 Mil Deal
6/03/24
86k sf property was 52% leased at time of sale

Construction Started on California’s First Man-Made Surf Wave Resort
6/03/24
Beach Street Development & Operations building 17-acre destination in Palm Desert

TruAmerica Picks Up 288-Unit Res Community in Ogden, UT
5/31/24
Deal is for The Falls at Canyon Rim, about 25 miles north of Salt Lake City

Vegas Area Office Property Fetches $570/sf
5/30/24
4.2k sf asset is in the Summerlin community

Anthem Development and ATX Acquisitions Team Up in Dallas Res Buy
5/30/24
Venture to implement upgrades at 216-unit Eleven600 Apartments

CapRock Partners Acquires 244k sf Industrial Asset in Mesa, AZ
5/29/24
Two-building project was just completed

Cardinal Group Buys 204-Unit University of Oklahoma Student Housing Property
5/28/24
The Flats at Norman has 612 beds

East Bay Logistics Extends Lease for 228k sf Washington Facility
5/24/24
Tacoma-area property owned by Prologis

Midway’s East River Receives 2024 Scenic Star Award by Scenic Houston
5/23/24
Award bestowed annually to a local entity that significantly contributes to the aesthetic improvement of the local environment

Hines Interests LP and Oaktree Capital Management Break Ground on East Bay Industrial Project
5/22/24
Milmont Industrial will redevelop three existing structures into a single, 267k sf facility

Boutique Debt and Equity Capital Advisor Company Priority Capital Advisory is Launched
5/22/24
New firm led by President Zachary Streit

BH Properties Picks Up 335k sf Seattle Shopping Center
5/21/24
Pacific Place was just 45% occupied at time of purchase

San Diego Office Tower Lands $82 Mil Refi
5/21/24
JLL arranges new loan on Sunroad Centrum Office Tower through Goldman Sachs

DXD Capital Kicks Off Construction on Hawaii Self Storage Project
5/20/24
Kihei facility will contain 357 units in 46k sf of space

AZ Office Property Gets New Owner in $5.4 Mil Deal
5/17/24
31k sf asset in Glendale sells for $171/sf

Fresno Self-Storage Facility Trades for $8.2 Mil
5/17/24
1,085-unit Cherry Ave Self-Storage goes for $7.5k/unit

Birtcher Anderson & Davis and Nuveen Spend $26.5 Mil on San Diego-Area Industrial Asset
5/15/24
Partnership pays $246/sf for 107k sf property in Miramar

Chicago Title Introduces New National Self-Storage Group
5/14/24
Entity to be led by industry veteran Chuck Mills

Time Equities Inc Buys 145-Unit Student Housing Asset in Huntsville, TX
5/14/24
The Armory was sold by Stonemont Financial

Hines and Trez Capital Start Work on 600-Acre Master-Planned Community in Texas
5/14/24
Northspur to provide 1,500 single-family homes in Terrell

Hines and Clearwater Living Senior Housing Fund V Team Up with an Institutional Partner to Recapitalize and Rebrand a Luxury Senior Living Facility in Houston
5/13/24
Clearwater at The Heights offers 220 units of independent living, assisted living and memory care housing

Unique Irvine Investment/Development Site Put on the Market
5/10/24
3.73-acre site at 2525 Main St includes office and data space, and is also entitled for 150 luxury res units

Two Seattle Residential Assets Land New Financing in Deals Totaling $14.5 Mil
5/09/24
Gantry arranges money on a 70-unit property in the Capitol Hill neighborhood and a 762-bed student housing asset near the University of Washington

Retail Property in San Francisco Trades in $9.3 Mil Deal
5/06/24
Pacific Capital buys 30k sf asset anchored by Walgreens

Community Preservation Partners Acquires 14-Unit Housing Asset in the San Fernando Valley
5/03/24
Firm will spend about $142k/unit to renovate Canoga Park Apartments

Phoenix Dev Site Goes for $13 Mil
5/02/24
Land planned for 25-story res tower

Rockefeller Group Starts Work on 600k sf Distribution Project in Riverside
5/01/24
Sycamore Hills Distribution Center will consist of two buildings on 34.6 acres

Washington Industrial User Trades for $26.6 Mil in Owner/User Buy
4/30/24
108k sf Pike Distribution Center goes for $247/sf

260k sf Light Industrial Asset in Texas Acquired by MIG Real Estate Entity
4/29/24
SouthTech Business Center in Austin sold by KBS

Class A Office Building in Glendale’s Financial District Put on the Market
4/29/24
CBRE team has the listing for 137k sf property at 700 N Central Ave

Online Luggage Company Leases 40k sf of Distribution Space in Arizona
4/26/24
Portmantos Inc paying just over $1/sf/mo for Tempe location

94k sf Phoenix Light Industrial Facility Becomes a Top 10 Property
4/26/24
Pinnacle Peak Commerce Center sells for $21.85 mil

AZ Retail Center Gets New Owner in $5.5 Mil Transaction
4/25/24
20k sf Avenue at Olive Park in Glendale goes for $268/sf

University of California, Irvine Graduate Student Team Wins NAIOP SoCal Orange County Real Estate Challenge
4/25/24
This year’s competition was to present the best use for the U.S. General Services Administration’s Chet Holifield Federal Building in Laguna Niguel

Bay Area Res Community Gets Recapitalized in Deal that Values the Asset at $45 Mil
4/25/24
Clarion Partners takes majority stake in 136-unit The Gates at Marina

Grubb Properties Obtains $20 Mil for Three SoCal Retail to Res Conversions
4/23/24
Bolour Associates arranges money for projects expected to create 375 new housing units

Advanced Real Estate Creates an Investment Alternative to a 1031 Exchange
4/23/24
With X Fund, investors trade their smaller multifamily properties into a single portfolio for limited partnership shares

Noble House Hotels & Resorts Makes Equity Investment in Oregon Resort Properties
4/23/24
Sonnenblick-Eichner Company arranges joint venture arrangement for Pacific City Lodging Portfolio

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