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January 15, 2025
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NEWS HEADLINES


Vegas Retail Center Sells in $50 Mil Deal
1/15/25
Out-of-state investor pays $437/sf for 115k sf Mountain’s Edge Marketplace

High Street Residential and Mitsui Fudosan America Start Work on 215-Unit Res Project in Scottsdale
1/15/25
Development slated for completion in mid-2027

Sunroad Secures New $188 Mil Loan on San Diego Res Community
1/14/25
Financing for 442-unit Vive Luxe was arranged by JLL

Miramar Capital Buys 333k sf Inland Empire Industrial Asset
1/14/25
Three-building Serrano Industrial Park in Jurupa Valley goes for $86 mil

Overton Moore Properties and Invesco Real Estate Begin Work on Three-Building AZ Industrial Project
1/13/25
Nextwave Tempe to consist of 689k sf across 35 acres

EastGroup Properties Inc Picks Up 519k sf AZ Industrial Park in $83 Mil Deal
1/13/25
Trammell Crow Company and CBRE IM sell Akimel Gateway in Chandler

Oregon Retail Center Sells for $427/sf
1/13/25
$44 mil deal is for Oswego Village in Lake Oswego

Arizona Industrial Portfolio Trades in Record-Setting $168 Mil Deal
1/10/25
CIP Real Estate buys 809k sf Broadway 101 Commerce Park in Mesa

San Mateo Retail Center Trades in $127 Mil Transaction
1/10/25
Sterling Organization and Cohen & Steers buy 232k sf Bridgepointe Shopping Center

Tower 16 Capital Partners Buys 167-Unit Build-to-Rent Community in Phoenix
1/09/25
Acquisition of Yardly McDowell marks firm’s ninth buy in the market

Pathfinder Partners Closes $28 Mil Seattle-Area Res Buy
1/08/25
Firm acquires 105-unit Sundance community

Commercial Real Estate Financing Briefs
1/08/25
Recent transactions from BWE, Gantry and Marcus & Millichap Capital Corporation

LaSalle Investment Management Buys 536k sf AZ Industrial Property
1/07/25
$112 Mil Deal is for five-building Tempe Commerce Park

Legacy Partners and DWS Start Work on Ontario Res Community
1/07/25
New development will contain 346 units in eight buildings

Blox Ventures Buys Loan Against Emeryville Office Building
1/06/25
Loan on 109k sf asset was acquired at 68% discount to December 2024 maturity value

Historic Colman Building in Downtown Seattle Trades Hands
1/03/25
144k sf retail/office property was built over 125 years ago

Trojan Storage Secures $70 Mil in Financing on Four California Self-Storage Assets
1/03/25
Gantry arranges permanent loan on properties in San Jose, Campbell, Rancho Cordova and Camarillo

Construction Topped Out on 265-Unit Res Project in Gardena
1/02/25
Apollo is a development of Cityview and Stockbridge

George Oliver and Ascentris Spend Over $42 Mil on Office Property in Old Town Scottsdale
12/31/24
Partnership to redevelop asset along with adjacent properties into a new experiential office campus

Seattle Area Industrial Portfolio Trades in $64 Mil Deal
12/31/24
Sale is of two properties in Kent, WA totaling 315k sf

San Diego Modular Affordable Housing Project Lands $112 Mil in Financing
12/30/24
JLL arranges construction loan and preferred equity for Impact Housing and Verbena Road Holdings’ Mission Gorge multifamily development

Cityview Buys 112-Unit Res Property in Hollywood
12/27/24
50-year-old Candela is viewed as a value-add opportunity

Bay Area Res Community Trades in $200 Mil Transaction
12/26/24
Interstate Equities Corporation buys 468-unit Summerwood Apartments in Santa Clara

Envision / Faring Venture Pays $90 Mil for Beverly Hills Office Building
12/24/24
133k sf property goes for $675/sf

Oregon Multifamily Community Traded for Over $29 Mil
12/24/24
146-unit Barclay Village in Oregon City goes for $200k/unit

TA Realty Buys 193k sf Inland Empire Industrial Facility
12/24/24
Slover & Elm Commerce Center in Fontana was sold by Brookfield

Two Alameda County Multifamily Trades Total $34 Mil
12/23/24
Deals are 73-unit property in Pleasanton and a 38-unit asset in Alameda

Rockefeller Group Starts Work on 418k sf AZ Distribution Center
12/20/24
Surprise Pointe Commerce Center can house one to four tenants

Recently Completed AZ Res Community Gets New Owner
12/19/24
PGIM Real Estate and High Street Residential sell 310-unit Smith & Rio in Tempe

STAG Industrial Buys New 173k sf Industrial Facility in Salt Lake City
12/19/24
Class A warehouse development was sold by ViaWest Group

SENTRE Spends $49 Mil on AZ Industrial Asset
12/18/24
Freestanding building in Tolleson sits on 15 acres

Denver Manufactured Home Community Trades for $62 Mil
12/18/24
Sale of 382-space Denver Cascade represents the highest price such sale in Colorado’s history

Chula Vista Office Building Trades in $29.5 Mil Deal
12/17/24
133k sf structure was 94% occupied at time of sale

Western National Group-Led Venture Buys 158-Unit Res Community in Riverside
12/17/24
Vista Imperio was built in 2005

Res Community in Seattle Sells for $105 Mil
12/16/24
265-unit AVA Ballard goes for nearly $400k/unit

BKM Capital Partners Executes $550 Mil Recapitalization with Kayne Anderson Real Estate for Multi-State Light Industrial Portfolio
12/16/24
Financing is for nine assets throughout the western U.S.

Bascom Group Acquires 92-Unit Res Property in Seattle’s Belltown Neighborhood
12/13/24
Firm intends to make upgrades to unit interiors and community spaces

US ELogistics Service Corp Leases 303k sf Space at Houston Industrial Project
12/12/24
Deal is at two-building Constellation Post Oak development

BKM Capital Partners Completes $76.9 Mil Recapitalization of Three San Diego Properties
12/12/24
The transaction Involves 342k sf of Coveted Light Industrial Space in Otay Mesa

County of L.A. Spends $200 Mil on 1.3 msf Gas Company Tower
12/11/24
Class A office tower in DTLA’s Bunker Hill trades for $154/sf

Local Investor Buys 260-Unit Res Community in San Antonio
12/11/24
Purchase is of three-year-old Augusta Flats

OC Seniors Housing Project Lands $473 Mil in Tax Exempt and Taxable Bond Financing
12/06/24
Record deal is for Harbert South Bay Partners, LAMB Properties, P3 Foundation and Momentum Senior Living’s 350-bed The James in Irvine

U-Haul International Buys 549k sf Phoenix Office Tower for $49/sf
12/09/24
$23.7 mil sale is of the 25-story 20 East Thomas property in the city’s Midtown submarket

Proficiency Capital Acquires 231k sf Industrial Portfolio in Chino and Pomona
12/09/24
Acquisition was funded with $32 mil loan

Tempe Res Property Purchased by AZ Investor in $18 Mil Deal
12/06/24
Rancho Las Palmas Apartments goes for $160k/unit

Carlsbad Industrial/Flex Facility Trades in $49.5 Mil Owner/User Buy
12/04/24
IDEC Corporation buys freestanding 233k sf building

Construction Started on Vestar’s Verrado Marketplace in Buckeye, AZ
12/04/24
500k sf retail center to be anchored by Target, Harkins Theaters newest ‘Backlot’ concept, Safeway, Ross, Marshalls and HomeGoods.

Interstate Equities Corporation Picks Up 124-Unit Multifamily Community in the Seattle Area
12/04/24
Woodstone Apartments in Bothell has been renamed as The Marina at Martha Lake

Tishman Speyer and Mitsui Fudosan America Start Work on Ground Up Industrial Project in Irvine
12/03/24
First phase of Bake Freeway Business Park to contain 380k sf in two buildings

Bay Area Office Building Lands $37 Mil Refi
12/02/24
CBRE arranges loan on 100k sf property in Redwood City

Equity Residential Boosts Its Portfolio with 227-Unit Asset in Colorado
11/27/24
Firm buys Aventine Littleton in Highland Ranch

BGO Buys 1 msf State-of-the-Art Distribution Facility in Arizona
11/26/24
Buckeye property was sold by US Capital Development and Ares Management

The Lightstone Group Pays $82 Mil for Washington Retail Center
11/25/24
Firm picks up 919k sf The Outlet Collection Seattle

Bonnani Development Secures $108 Mil Recapitalization on Recently Completed OC Res Development
11/21/24
New financing on 300-unit VRV in Stanton arranged by BWE

San Diego County Water Authority Spends $38.7 Mil on New Industrial Facility in Escondido
11/21/24
89k sf development was sold by RPG

INDUS Realty Trust Buys 393k sf Distribution Facility in Phoenix’s Airport Submarket
11/20/24
Phoenix Airport Logistics was fully leased to five tenants at time of sale

EQT Exeter Buys Two Industrial Facilities in American Canyon
11/20/24
Bay Area properties total 1.35 msf

Kennedy Wilson-Managed Fund Spends $110 Mil on Two Pac Northwest Res Communities
11/19/24
Newly constructed Seattle and Portland Assets total 438 units

High Street Residential Starts Work on 419-Unit AZ Res Development
11/19/24
Project is part of 1,100-acre Hawes Crossing master-planned community in Mesa

AvalonBay Communities Picks Up 126-Unit TX Multifamily Property
11/18/24
Firm buys Brisa Townhomes in Bee Cave

Rockefeller Group Finishes Work on 260k sf Distribution Center in the Inland Empire
11/18/24
Patterson Commerce Center sits on 14 acres in the city of Perris

San Diego Multifamily Asset Trades for Over $82 Mil
11/15/24
229-unit Market Street Apartments in East Village is purchased at a price of $358k per unit

DECA Plans to Build 855k sf Distribution Facility in Perris
11/15/24
Firm obtains $135 mil to fund construction of the state-of-the-art building

High Street Residential and MetLife Investment Management Break Ground on New Seattle Res Community
11/14/24
244-unit project is in the city’s Roosevelt neighborhood

Real Estate Development Associates and Clarion Partners Finish Work on 250k sf Industrial Project in Central L.A.
11/12/24
Union Commerce Center was built on a spec basis

Orion Office REIT Buys NoCal Lab/R&D Asst in $35 Mil Deal
11/13/24
96k sf building in San Ramon was sold by Madison Marquette

Portland Area Res Community Gets New Owner in $58 Mil Deal
11/12/24
180-unit Sonder Fields goes for $323k/unit

Hyde Development and Mortenson Properties Buy 787k sf Salt Lake City Industrial Portfolio
11/12/24
Purchase consists of five single-tenant and four multi-tenant buildings

Commercial Real Estate Financing Briefs
11/11/24
Recent transactions from Gantry, CBRE Capital Markets and JLL Capital Markets

MBK Rental Living Finishes Work on New NoCal Multifamily Community
11/08/24
The Haven at Deer Creek is a 134-unit development in the city of Petaluma

Cabot Properties Acquires 669k sf Inland Empire Industrial Portfolio
11/07/24
Purchase of buildings in Ontario, Fontana and San Bernardino comes to over $200 mil

Coastal Carlsbad Apartment Asset Sells for Over $500k/Unit
11/07/24
Dunbar Residential Investments and Long Wharf Capital spend $21 mil on 40-unit Pure Beach Living property

Second Phase of Downtown Burbank Mixed-Use Development is Finished
11/06/24
Three-phase project to include 275 res units and ground floor retail over more than three acres

WHAT'S NEW
Silicon Valley Office Market Sees Strong Leasing Activity and Declining Vacancy Amid Construction Slow-Down
1/15/25
CBRE provides end of year update on the market

Sacramento Industrial Market Sees Slowdown
1/09/25
End of year report provides latest numbers

San Diego’s Industrial Market Faces Mixed Signals Entering 2025
1/08/25
Year-end update on the region from Kidder Mathews

Orange County Industrial Market Continues Cooling Trend
1/02/25
Year-end report from Kidder Mathews shows slight increase in vacancy rate for the sector

Smaller Office Space Showing Greater Market Resilience than Larger Spaces in Phoenix
12/05/24
Phoenix Insight report from Cushman & Wakefield highlights the current space preference trend for this sector

SoCal Economy’s Resilience Unable to Alleviate Continuing Housing Shortage
11/12/24
University of Southern California Casden Real Estate provides its annual economics forecast for the region’s multifamily industry

Downtown Denver’s Office Rent Growth Rivaled by Few Other North American Tech Hubs
11/27/24
CBRE reports that Denver’s tech companies received a majority of metro’s venture capital funding in the first half of 2024.

L.A. County’s Office Market Navigates Challenges as Property Sales Set New Benchmarks
10/21/24
3rd quarter 2024 update from NAI Capital Commercial suggests owners are looking to more adaptive re-use opportunities

Phoenix Medical Office Vacancy Rises Slightly as Sector Sees Second Consecutive Quarter of Negative Net Absorption
11/20/24
Kidder Mathews provides 3rd quarter snapshot of the market

Denver Multifamily Market Ends 3rd Quarter with a 94% Occupancy Rate
11/04/24
CBRE provides quarter-ending numbers for the sector

RENTV's 2024 San Diego State of the Market Conference is Being Held on November 21
10/21/24
This annual event will feature high-powered panels of top local executives and dealmakers discussing the Office, Retail, Industrial, Multifamily and Finance markets throughout San Diego County. The conference is being held at the Westin Carlsbad Resort & Spa.

San Francisco Office Demand Reaches Highest Point Since the Start of the Pandemic
10/17/24
3rd quarter report from Cushman & Wakefield suggests leasing is picking up

Phoenix Sees First Decline in Office Vacancy Rate in Five Years
10/15/24
JLL provides 3rd quarter update on the sector

Opportunities Emerge as Vacancy Continues Two-Year Rise in L.A. County Industrial Market
10/14/24
NAI Capital Commercial provides 3rd quarter 2024 industrial market update on the market

 
ETC. ETC...
Private Investor Spends Over $7 Mil on Tempe, AZ Industrial Property
1/15/25
Buyer to make additional improvements to the 40k sf building

Irvine Office Building Sells for $42 Mil
1/15/25
SoCal investor pays $135/sf for 311k sf asset at 2600 Michelson

Realterm Closes on 13-Property IOS Portfolio Buy
1/13/25
Acquisition consists of 13 industrial outdoor storage properties in seven U.S. markets

Advanced Manufacturing/R&D Facility in Seattle’s SoDo Neighborhood Lands $40 Mil in Financing
1/13/25
Cushman & Wakefield arranges money on 210k sf Track6 project

Barker Pacific Group Founder and CEO Michael Barker Passes Away
1/10/25
Veteran CRE developer and owner was 80

Montecito Medical Real Estate Spends $30 Mil on AZ Medical Office Property
1/10/25
Deal for Chandler Medical Pavilion works out to $455/sf

City of Los Angeles Buys Five Acres of Land in Harbor City
1/09/25
Undeveloped site will be used for a clean energy electric bus charging faciity

UCLA Launches New Master of Real Estate Development Program
1/09/25
Greg Morrow will lead the Luskin School–based initiative

Bay Area Industrial Outdoor Storage Portfolio Acquired by Realterm in a $25 Mil Transaction
1/08/25
Purchase consists of two assets totaling 267k sf

Vegas Industrial Asset Picked Up in $12.5 Mil Deal
1/07/25
50k sf Edmond Russell Triangle goes for $250/sf

Single-Tenant Salt Lake City Warehouse Trades
1/07/25
41k sf facility on seven acres sold by ViaWest Group

Industrial Asset in North Las Vegas Sells for $232/sf
1/07/25
California exchange investor spends over $17 mil on 75k sf property

Investor Obtains $39 Mil in Loans on Two Phoenix-Area Industrial Properties
1/06/25
Gantry arranges insurance company money on Parc Germann Industrial Park and Ray Industrial Park

Tyler Epting and Kris Hagar Join Cushman & Wakefield
1/03/25
Duo will focus on industrial, manufacturing, logistics, flex, and R&D leasing and sales transactions

San Francisco Office Tower Closes Four Lease Signings
1/02/25
Deals at 221 Main Street include a relocation for 34.5k sf by Proof School

Retail Asset in North Seattle Goes for $271/sf
12/31/24
51k sf LA Fitness & Shoppes property sold by Madison Development

Renovated Phoenix Office Building Trades for $176/sf
12/30/24
102k sf property was 82% leased at time of sale

Precision Science Leases 130k sf Space in Phoenix
12/27/24
Deal is for part of an industrial facility within Mack Innovation Park

Realterm Picks Up Two Industrial Outdoor Storage Assets in Silicon Valley
12/26/24
Both properties are in Fremont

Industrial Outdoor Ventures Spends $5.68 Mil on Denver Building
12/23/24
31k sf facility sits on nearly five acres

Brookfield Properties Awards Leasing Assignment for DTLA Mixed-Use Campus to Colliers
12/23/24
California Market Center consists of 1.9 msf of space in three buildings

Cohen Asset Management Buys 49k sf Industrial Building in Gilbert, AZ
12/20/24
Single-tenant building goes for $178/sf

Construction Started on 655k sf Industrial Facility in Stockton for Home Depot
12/20/24
Build-to-suit at the Port of Stockton is being developed by Trammell Crow Company and Realty Income Corporation

Oregon Logistics Facility Acquired by Ares Management
12/20/24
110k sf Coffee Creek Logistics Center sold by LaSalle Investment Management

Kidder Mathews Awarded 1 msf Pac Northwest Industrial Management Assignment
12/19/24
Eight-asset WA portfolio owned by Cabot Properties

PCBP Properties Pays $12.5 Mil for Washington Industrial Facility
12/18/24
80k sf property located in Puyallup

Work Started on $268 Mil College of the Desert’s Palm Springs Campus
12/18/24
State-of-the-art project is being built by C.W. Driver Companies

Industrial Building in Phoenix’s Sky Harbor Airport Submarket Sells for $234/sf
12/17/24
SoCal investor spends $7.8 mil on single-tenant asset

Christopher Larimore and Tish Childs to Lead New Property Management Division at Lee & Associates
12/16/24
Duo will be based out of the firm’s Pasadena office

New Denver Res Tower from Legacy Partners and Pacific Life Begins Leasing
12/13/24
Araceli features 236 units over 13 floors

Virco Manufacturing Renews Lease for 559k sf Torrance Facility
12/12/24
Deal calls for the installation of solar panels at the firm’s L.A. area HQ location

Repurposed Aliso Viejo Retail Property Completed by ValueRock Realty
12/12/24
The Commons replaced vacant 200k sf Lowes store with multi-tenant community center

GF Properties Buys 80k sf Industrial Portfolio in Southwest Las Vegas
12/11/24
Two buildings were sold by Dalfen Industrial

Kraig Heeter of Kidder Mathews Named President-Elect of the Society of Industrial and Office Realtors (SIOR)
12/09/24
Heeter has served as Washington SIOR Chapter President since 2022.

Hanley Investment Group Raises $31,800 for Movember in 14th Annual Fundraiser Supporting Men’s Health
12/09/24
To date, Hanley has raised $400,000 for the global charity dedicated to improving men's health worldwide

AHV Communities Buys 330-Unit Multifamily Community in San Antonio
12/06/24
The Sterling at Oak Hills is located in the city’s South Texas Medical Center area

Owner/User Picks Up AZ Industrial Property in $15 Mil Purchase
12/06/24
87k sf property in Gilbert goes for $175/sf

Washington Office Tower Lands $35 Mil Refi
12/06/24
Unico gets new loan on 300k sf building in Tacoma

Ferguson Pape Baldwin Architects Acquires CAS Architects
12/05/24
Merger of California firms will boost FPBA’s presence in the Bay Area

Exchange Investor Pays $290/sf for Las Vegas Industrial Building
12/05/24
Fully occupied 35k sf facility was built in 2023

Rockefeller Group Signs Three Tenants for 322k sf at New CO Industrial Project
12/04/24
Trio of deals brings 453k sf development to 71% leased prior to completion of construction

BAUER Group Signs Two Full Building Tenants at Its NorthStar Industrial Park in Texas
12/03/24
Unimacts and Membrane Platforms are the latest to ink deals at 200k sf project in Conroe

USC Team Wins Silver Shovel at NAIOP SoCal’s Annual Real Estate Challenge
12/02/24
This year’s competition was to come up with the best redevelopment plan for a 9.27-acre site within the Raytheon Campus in El Segundo

Phoenix Commercial Property Trades for $6 Mil in Sale/Leaseback Deal
12/02/24
Asset consists of a 20k sf building on just under two acres

Interstates Leases 93k sf Full Building at Colorado Industrial Campus
11/27/24
Deal is at Communale Properties’ 13-acre Mulberry Connection in Fort Collins

Dunbar Real Estate Investment Management Spends $19 Mil on Riverside Biz Property
11/26/24
139k sf Summit Business Center foes for $137/sf

Four Properties in Vegas’ Fremont East District Sold in Deals Totaling Near $8.5 Mil
11/25/24
Assets were part of the Estate of Tony Hsieh

SKB and Arc Capital Partners Spend $19 Mil on Two AZ Industrial Facilities
11/25/24
Gilbert structures total 194k sf of space

Okland Capital Starts Work on 68k sf AZ Medical Office Project
11/22/24
Celebration Medical Center in Gilbert is already 30% pre-leased

Parallel Capital Partners Closes $14.5 Mil San Diego Industrial Buy
11/21/24
Firm picks up two buildings totaling 73k sf

Gateway Classic Cars Inks Lease for 44k sf at New Caliber Industrial Project in Peoria, AZ
11/22/24
Three-building, 411k sf campus is a development of Greystar

Bendetti Purchases Two TX Industrial Assets Totaling 114k sf
11/21/24
Arlington properties are both fully occupied

Owner/User Buys 12k sf Commercial Property in Central Phoenix
11/20/24
Three-building asset goes for $160/sf

Hampton Inn & Suites by Hilton Seattle Downtown Lands $27 Mil Refi Loan
11/20/24
CBRE arranges money 199-room asset

L.A. Investor Buys 250k sf San Gabriel Valley Shopping Center
11/19/24
Deal is for Huntington Oaks Center in Monrovia

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