NEW & NOTABLE
PHOENIX—W&W Structural has added a vice president of operations and project manager to its growing team in its Tempe, Ariz., office. President/owner Jodi Malenfant announced the hiring of Les McCauley as vice president of operations and Beth Ehrhardt as project manager. McCauley joins W&W Structural after a stint of 16 years at Agate Steel. A native of Walla Walla, Wash., McCauley will assist, direct, and coordinate all aspects of operations to improve performance, productivity, efficiency, and company profitability.

PHOENIX—Ronan McNulty has joined Cushman & Wakefield as a Senior Research Analyst in the Phoenix office. Ronan will oversee all market data and analytics and provide insightful interpretations to assist with executing client services and new business pursuits. He will be managing the existing research team of Justin Winters, Research Analyst and Brandon Borsheim, Research Analyst.

and worked in malaria research in Silver Spring, Maryland at the Walter Reed Army Institute of Research.

DEALTRACKER
NORWALK, CA—A triple-net-leased, 111,830-square-foot Walmart Supercenter in Norwalk, California has traded hands for $20.2 million sales price equates to $181 per square foot. Marcus & Millichap's James and Scott Doerner, associate, represented the seller, a privately owned real estate development company. The buyer is a Southern California-based private investor. Built in 1998 on 7.6 acres, this Walmart Supercenter is located at the intersection of Imperial Highway and Pioneer Boulevard at 11729 Imperial Highway in Norwalk. The property is directly visible from Interstate 5. More than 650,000 people reside within five miles.

LOS ANGELES—Ory Schwartz, SVP at NorthMarq Capital's Los Angeles regional office, arranged the $46.5 million refinance of Redlands Town Center, a 251,621 square foot retail property located at 9900-10080 Alabama Street in Redlands, California. The transaction was structured with a 10-year interest only loan. NorthMarq arranged financing for the borrower through its conduit relationship with a CMBS lender. JC Penny and Toys R' Us represent the property's major tenants. /
BUILDING BLOCKS

RIVERSIDE, CA— Piong Bin Hong has acquired a 3.47 acre residential development land site in Ontario, Calif. Heri and Gim represented the seller John Drake & John Christian. The buyer was. The total sale price was $3.4 million or $976,625 per acre. The Euclid Townhomes is an entitled residential townhome development on Euclid Avenue in the city of Ontario, CA. The entitled development consists of fifty-seven units spread out over 3.47 acres for a density of 16.4 du/ac. The planned units range in size from 800 to 2,270 square feet, with 1 or 2 bedrooms floor plans, and each with their own garage. The project architecture consists of a mix of 5- and 6-plex buildings to be completed in both Craftsman and Colonial Revival styles. The common area amenities include open landscaped spaces and a community pool, all designed with a sense of community and walkability. The property is in a great location, blocks from Ontario High School and De Anza Middle school on the Westside of Euclid Avenue, between W Francis Street and W Cedar Street.

LOS ANGELES—Los Angeles continues to by on of the brightest stars in the Norwest market. According to a recent report, L.A. has a solid outlook. The deals this week, however, were from all over. Here's a look at the latest news, announcements and deals that you may have missed in Southern California, Nevada, Arizona and Utah.

BY THE NUMBERS

LOS ANGELES—Growing labor market and constrained development is boosting retail prospects. Amid consistent job growth in the Los Angeles metro, particularly in the hospitality and healthcare sectors, household formation is rising. As a result of the vast improvement since the recession, the labor market has spurred strong demand for housing and the associated retail goods. Despite rising household formation, development has remained fairly benign, supporting a tightening trend in vacancy. Asking rents have also risen, pushing the average per square foot to nearly $30 metrowide. Meanwhile, premier spaces will lease for prices far exceeding the metro base line, underscoring the wide disparity between submarkets. Small uptick in development led by Ikea in San Fernando Valley. While operations have improved substantially over the course of the cycle, limited construction has focused primarily on single-tenant concepts and spaces. The largest completion scheduled for 2017, an Ikea in Burbank accounts for roughly 40 percent of the 1.2 million square feet expected to be delivered this year. Metrowide, construction remains in line with prior years of the current business cycle. Net absorption turned negative in the first quarter metrowide, although the market remains tight and rents are still rising.

(SOURCE: Marcus & Millichap)

NEW & NOTABLE
PHOENIX—W&W Structural has added a vice president of operations and project manager to its growing team in its Tempe, Ariz., office. President/owner Jodi Malenfant announced the hiring of Les McCauley as vice president of operations and Beth Ehrhardt as project manager. McCauley joins W&W Structural after a stint of 16 years at Agate Steel. A native of Walla Walla, Wash., McCauley will assist, direct, and coordinate all aspects of operations to improve performance, productivity, efficiency, and company profitability.

PHOENIX—Ronan McNulty has joined Cushman & Wakefield as a Senior Research Analyst in the Phoenix office. Ronan will oversee all market data and analytics and provide insightful interpretations to assist with executing client services and new business pursuits. He will be managing the existing research team of Justin Winters, Research Analyst and Brandon Borsheim, Research Analyst.

and worked in malaria research in Silver Spring, Maryland at the Walter Reed Army Institute of Research.

DEALTRACKER
NORWALK, CA—A triple-net-leased, 111,830-square-foot Walmart Supercenter in Norwalk, California has traded hands for $20.2 million sales price equates to $181 per square foot. Marcus & Millichap's James and Scott Doerner, associate, represented the seller, a privately owned real estate development company. The buyer is a Southern California-based private investor. Built in 1998 on 7.6 acres, this Walmart Supercenter is located at the intersection of Imperial Highway and Pioneer Boulevard at 11729 Imperial Highway in Norwalk. The property is directly visible from Interstate 5. More than 650,000 people reside within five miles.

LOS ANGELES—Ory Schwartz, SVP at NorthMarq Capital's Los Angeles regional office, arranged the $46.5 million refinance of Redlands Town Center, a 251,621 square foot retail property located at 9900-10080 Alabama Street in Redlands, California. The transaction was structured with a 10-year interest only loan. NorthMarq arranged financing for the borrower through its conduit relationship with a CMBS lender. JC Penny and Toys R' Us represent the property's major tenants. /
BUILDING BLOCKS

RIVERSIDE, CA— Piong Bin Hong has acquired a 3.47 acre residential development land site in Ontario, Calif. Heri and Gim represented the seller John Drake & John Christian. The buyer was. The total sale price was $3.4 million or $976,625 per acre. The Euclid Townhomes is an entitled residential townhome development on Euclid Avenue in the city of Ontario, CA. The entitled development consists of fifty-seven units spread out over 3.47 acres for a density of 16.4 du/ac. The planned units range in size from 800 to 2,270 square feet, with 1 or 2 bedrooms floor plans, and each with their own garage. The project architecture consists of a mix of 5- and 6-plex buildings to be completed in both Craftsman and Colonial Revival styles. The common area amenities include open landscaped spaces and a community pool, all designed with a sense of community and walkability. The property is in a great location, blocks from Ontario High School and De Anza Middle school on the Westside of Euclid Avenue, between W Francis Street and W Cedar Street.