DEALTRACKER

TUSCON—Caterpillar Inc. has signed a lease through April 2019 at One South Church in downtown Tucson. Caterpillar will occupy 26,093 square-feet on the tower's first and second floor until its permanent location is completed. Jeff Casper with CBRE's Tucson office represented the landlord, 1SC Partners. Buzz Isaacson with CBRE's Tucson office along with Traci Payette and Gary Fazzio of CBRE's Chicago office, negotiated for Caterpillar in the transaction. In May of 2016, Caterpillar announced Tucson as the new centralized hub for the Surface Mining & Technology Division, bringing about 600 jobs to the city over the next five years.

IRVINE—The Bascom Group has acquired Casanova Grove Apartments, a 76-unit infill apartment community located in Monterey, California, for $16.7 million. Anthony Lugo represented the buyer. Erich Pryor and Thomas Sherlock with Talonvest Capital arranged the loan from NXT Capital. Casanova Grove is less than two miles from the Pacific Ocean with Pacific Coast Highway just a mile away, providing exceptional local and regional access. The charming coastal location is home to a plethora of renowned attractions including Monterey Bay Aquarium, Mazda Raceway Laguna Seca, 17-Mile Drive, and the Pebble Beach Resorts. The local economy is strong, with a high median household income and neighborhoods bordering Casanova Grove with median home price values from $532,500 to $2.9 million.

LA PUENTE, CA—Brandywine Homes has broken ground on Bradbury, a new infill community located at 747 Del Valle Avenue in La Puente with 45 single-family detached homes on 3.87 acres. Model construction is expected to begin in late fall. La Puente, with a population of about 40,000, is an urbanized city with limited housing stock and excellent access to the Greater Los Angeles job market. The gated community will offer two-story homes with three bedrooms and 2 1/2 bathrooms. These stylish residences are designed with Spanish, Craftsman and Farmhouse architecture, and range in size from 1,843 to 2,087 square feet on 2,500-square-foot lots. The homes will include great rooms, lofts, private yards, porches and two-car garages. The gourmet kitchens will feature islands and spacious master suites including large soaking tubs and walk-in closets. The community will also include a private pocket park.

SHAFTER, CA—Wonderful Real has broken ground on a 1 million-square-foot industrial building located within Wonderful Industrial Park, a 1,625-acre, rail-served industrial development in Shafter, California. Located at 4100 Express Avenue, this will be one of only a handful of million square foot or greater industrial buildings under speculative development in the United States that features 40-foot clear height, access to four major U.S. ports and oversized large truck courts. The building will be available for occupancy March 2018. JLL's Mike McCrary, Peter McWilliams and Mac Hewett are leading the leasing efforts at Wonderful Industrial Park which is able to accommodate a variety of industrial requirements ranging from approximately 100,000 to 2 million square feet of space.

TEMPE, AZ—Leo Sanchez, Commercial Sales Executive of Major Accounts at Fidelity National Title Agency, has been elected VP of the Board of Directors for the W.P. Carey School of Business, Masters of Real Estate Development Alumni Program. In May Sanchez completed the prestigious W.P. Carey School of Business, MRED Program. Sanchez, who has been with Fidelity Title for two years and in the local real estate industry for 13 years, also holds an MBA with a concentration in finance from Keller Graduate School of Management.

PASADENA—KTGY Architecture + Planning has designed The Theo, a new six-story multifamily building at 289 N El Molino Ave in Pasadena. KTGY is working with developer Summerhill Apartment Communities, as well as Pasadena Heritage and City of Pasadena Design Commission, on a structure that addresses its historic surroundings. The building is adjacent to the Theodore Parker Lukens House, which is among the oldest Victorian Homes in Pasadena. The Theo offers additional varieties of outdoor spaces: Rooftop amenity space, pool and spa area, cabana terrace, lobby courtyard, outdoor kitchen and dining, dog-wash area, and private terraces. The building steps down in a series of terraces, from six to two levels, to accommodate these different programmed areas.

IRVINE—Irvine Co. has purchased a two-building, 127,000-square-foot office project named Township 14 in Del Mar Heights. It is the company's first acquisition in Del Mar Heights. Township 14 opened on six acres in the 1980s as Del Mar Corporate Plaza. In 2014, following significant redevelopment by seller TH Real Estate, an affiliate of Nuveen (the investment management arm of TIAA), it was renamed after the plot of land first established in the 1880s that later became known as Del Mar. Part of the redevelopment involved replacing one of the original buildings with a new, four-story, 70,000-square-foot, glass-sheathed building at 12760 High Bluff Drive for Latham & Watkins, the top-ranked global law firm. Next door, the three-story, 57,000 square-foot building at 12780 High Bluff Drive received new floor-to-ceiling glass, a refurbished lobby and other enhancements. Its customers include Experian, Citizens Bank, Edelman Financial and Energy Capital.