West
Phoenix Rising
The Valley of the Sun is riding a wave of solid performance. New supply is keeping pace with demand, helping to maintain healthy vacancy rates.
CIP Sells EconoLodge Hotel
Hotel Brokers International’s member Crystal Investment Property closed the sale of a 44-key motel near Nye Beach in Newport, Ore. The final price was not disclosed.
CBRE Secures 119 KSF Oakland Industrial Lease
The tenant, a large electrical distributor, will benefit from the building’s 425 feet of frontage along Interstate 880.
Portland’s Silicon Forest Continues to Grow
Multifamily demand remains elevated, fueled by a healthy job market and an influx of young people. Oregon’s GDP grew 4.6 percent as of the third quarter of 2016, placing it in the top 10 fastest-growing states in the nation.
Largest C-PACE Deal to Fund CA Medical Center Retrofits
Verity Health System will use the 30-year loan to make mandatory seismic upgrades to Seton Medical Center in Daly City, Calif.
HFF Closes $26M Sale of Phoenix-Area Property
The company represented the seller, a partnership between AEW Capital Management and The Muller Co., and procured the buyer, Arizona Partners.
SRS Opens New San Diego Office
SRS Real Estate Partners has hired Sam Hanna and Bryan Raphaelson, both from Marcus & Millichap’s net lease group, to anchor the new San Diego team. The company also appointed Michael Lagazo, formerly of SVN, as vice president.
SF Shipyard Mixed-Use Development Sets Sail
The San Francisco Shipyard will anchor a wider plan along San Francisco’s southeastern shoreline, which also incorporates Candlestick Park. This will be the Bay Area’s largest commercial development under single ownership.
Revamped Glendora Shopping Center Opens Doors
JLL has secured three leases for owner Champion Glendora, bringing total occupancy to 85 percent, prior to completion of the redevelopment in July.
Downtown Palm Springs Springs Up in the Fall
Grit Development’s revitalization project brings new hotels, retailers and restaurants to the city’s downtown. The grand opening is scheduled for mid-November.