West
Westwood Sells Phoenix-Area Retail Center
Tatum Plaza, a retail center shadow-anchored by Fry’s Food & Drugs, traded for $9.5 million. Westwood acquired the property in 2014 and increased the asset’s net operating income by filling the center with high-profile tenants.
Faris Lee Arranges $13M LA-Area Starbucks, CVS Sale
The sale price represented a cap rate of around 4.7 percent, which is the lowest for two freestanding pads sold in Southern California in 2017.
Cypress West Gains Management of Cali Medical Center
Cotton Medical Center is an 115,000-square-foot medical office complex in Pasadena, Calif. The owner, Meridian has invested $5 million in capital improvements to the property which was purchased in 2016 for $37.5 million.
NGKF Brokers $59M Anaheim Office Building Sale
The property consists of an eight-story office building and a six-level parking structure. The sale was involved in a 1031 tax deferred exchange. NGKF Capital Markets represented both the seller and the buyer in the transaction.
Alexander & Baldwin Expands Hawaii Industrial Portfolio
The five buildings, part of an industrial campus located in Kailua-Kona, were 94 percent occupied at the time of the transaction.
Passco Creates Corporate Marketing VP Role
With more than a decade of commercial real estate experience, Stacy Stemen will oversee all aspects of marketing, public relations, special events, conferences and business development for the firm.
Terreno Nabs $25M South Bay Industrial Asset
The 114,000-square-foot building in Gardena, Calif., is managed by CBRE and is fully leased to one tenant, GOH Express.
Life Storage Buys Two California Facilities
The self-storage properties in the Antelope Valley region of Los Angeles County include roughly 1,390 units and 182 RV storage spaces. Both facilities have freeway visibility.
Kennedy Wilson Buys Big in Seattle
Constructed between 1999 and 2001, 90 East consists of three Class A buildings situated on a 20-acre site in the greater Bellevue area. The property is currently 100 percent leased.
Cambria Hotels Expands to Napa, CA
Choice Hotels International Inc. has partnered with Stratus Development Partners LLC to develop their second project in the region, a 90-key hotel.