Here's a look at the latest news, announcements and deals that you may have missed in Southern California, Nevada, Arizona and Utah.
NEW & NOTABLE
ANAHEIM, CA—Wincome Group has hired Lifescapes International to design the landscape environment for the recently announced $245 million development of the Westin Anaheim Resort. Lifescapes has designed the landscapes of the Bellagio Resort & Casino, Margaritaville Hollywood Beach Resort, Fontainebleau Miami Beach (remodel in 2008), and the Wynn Las Vegas, among many others. The 600,000-square-foot Westin Anaheim Resort feature 600 rooms.
TEMPE—Sundt has named its president and CEO G. Michael Hoover as chairman of the company's Board of Directors. Hoover has served as president since 2015 and CEO in 2016. He replaces J. Doug Pruitt as Board Chair. Pruitt will remain on the Board as an outside member.
IRVINE, CA—Allen Matkins' partner Gary McKitterick has received the
Hoag Hospital Foundation's Vin Jorgenson Award, in the President's Circle category, for his dedication and contributions to Hoag and its various committees, services and expansion projects.
IRVINE, CA—Derrick Schuster has joined PREMIER Design + Build Group as a
senior project manager in the Southern California office. He has been a team lead in the industry for nearly 15 years and has procured an impressive $350+ million portfolio during his project management career. Schuster is a results-first professional who brings single-minded determination to clients. He is as productive working with teammates and contractors as he is interfacing with executives and clients.
SCOTTSDALE, AZ—GPS Retail Advisors has hired Martin Leon, who will focus
on land brokerage, retail investment sales and national retailer representation.
His current active client roster includes Wendy's, Smart & Final and Stardust Building Supplies. Leon joins from DeRito Partners, where he was one of the top producers with the firm.
NEWPORT BEACH, CA—Stan Johnson has hired Matt Lipson as associate director on the West Coast. Lipson will be based in the firm's new Newport Beach office. He joins the firm from CIRE Partners where he served as a Senior Investment Associate for the past six years. Previously he worked at Marcus & Millichap and is a graduate of San Diego State University.
DEALTARCKER
PHOENIX—A 27,711-square-foot two-story office building located at 399 South Malpais Lane has traded hands for $7.4 million between Anthem Boise and The Shoppes at Osgood. This Class-A office building was built in 2014 and is situated on 1.81 acres just west of Northern Arizona University along Milton Road, Flagstaff's major north-south commuter thoroughfare. The building is ±85 percent leased to a diverse group of office and medical tenants, including CollegeAmerica, NextCare Urgent Care and Arizona Arthritis & Rheumatology Associates PC. Andrew K. Fosberg and Dylan A. Brown with CBRE's Phoenix office and Jeffrey S. Pion with CBRE's Los Angeles office represented the seller. Matt Olson of Property Resource Group represented the buyer.
PHOENIX—Orsett Properties has sold Pinnacle Peak Commerce Center for $14.2 million to Nicola Crosby, a real estate and asset management company. Kidder Mathews commercial real estate brokers Darren Tappen, Peter Beauchamp, Mike Ciosek, and Eric Bell, represented both parties in the transaction. Pinnacle Peak Commerce Center is a 93,725 square foot, state-of-the-art flex/industrial property located at 23751 North 23rd Avenue in Phoenix, Arizona, near Interstate 17.
San Diego, CA—Interstate Equities Corporation has acquired a 133-unit value-add apartment complex for $33.95 million in the La Mesa submarket of San Diego. The firm's IEC Institutional Fund III, purchased the asset. The firm plans to continue acquiring assets that meet the firm's investment criteria. The property was 96% occupied when purchased. Shane Shafer, Ed Rosen, John Chu, and Kyle Pinkalla of Berkadia brokered the transaction. David Bleiweiss at Berkadia worked on the debt placement.
BREA, CA—PharMedQuest Pharmacy Services has leased 13,268-square-feet of office space located at 330 E. Lambert Road in Brea, California, for a total consideration of $1.4 million. Lee & Associates' Marshal Vogt and Erik Thompson negotiated the lease deal on behalf of the landlord, Brea Metro, LLC, and Matt Didier of CBRE represented the tenant. 330 E. Lambert Road is a 43,800 square-foot, two-story premier office building offering tenants a professional business environment with proximity to major freeways and numerous amenities.
IRVINE, CA—Ware Malcomb has completed construction on the Thales offices located at 53 Discovery in Irvine, California. Ware Malcomb provided interior architecture & design, branding and civil engineering services for the project. The 61,000 square foot project for Thales, was designed to accommodate the firm's strategic objectives while reflecting its values of collaboration, innovation and building a community at work. The design incorporates state-of-the-art technology in a flexible open work environment for both employees and visitors from around the globe. Adhering to the design standards previously developed by Ware Malcomb, the space appeals to a diverse demographic, especially the younger generation of engineers, while providing an efficient facility that embraces new ways for people to work and come together.
SANTA MONICA—KFA has completed renovating Immanuel Place, a historic, 90-year-old Immanuel Church and created an attractive, affordable senior housing project. Developed by Thomas Safran & Associates, Immanuel Senior Housing is located at 3215 E 3rd Street in the Bluff Heights Historic District of Long Beach, CA. KFA is a leader in innovative, urban infill developments and adaptive reuse affordable housing projects, with a track record that includes restoring and breathing new life into many buildings listed on the National Register of Historic Places. In addition to the adaptive reuse of the church, the project included the removal of an adjacent 1920s Craftsman home to make room for the new parking lot. The historic home was transported to a vacant lot in Long Beach where it will be reused.
SANTA ANA, CA—Sherry Lane Garden Homes, a 62-unit, all single-story apartment complex in Santa Ana, California, has traded hands for $19.85 million. Joseph Berkson represented the seller, and procured the buyer, Montgomery Partners, an investment group based in Mill Valley, California. The property is located at 1920 Sherry Lane in Santa Ana near the 5, 22 and 55 freeways.
Here's a look at the latest news, announcements and deals that you may have missed in Southern California, Nevada, Arizona and Utah.
NEW & NOTABLE
ANAHEIM, CA—Wincome Group has hired Lifescapes International to design the landscape environment for the recently announced $245 million development of the Westin Anaheim Resort. Lifescapes has designed the landscapes of the Bellagio Resort & Casino, Margaritaville Hollywood Beach Resort, Fontainebleau Miami Beach (remodel in 2008), and the
TEMPE—Sundt has named its president and CEO G. Michael Hoover as chairman of the company's Board of Directors. Hoover has served as president since 2015 and CEO in 2016. He replaces J. Doug Pruitt as Board Chair. Pruitt will remain on the Board as an outside member.
IRVINE, CA—
Hoag Hospital Foundation's Vin Jorgenson Award, in the President's Circle category, for his dedication and contributions to Hoag and its various committees, services and expansion projects.
IRVINE, CA—Derrick Schuster has joined PREMIER Design + Build Group as a
senior project manager in the Southern California office. He has been a team lead in the industry for nearly 15 years and has procured an impressive $350+ million portfolio during his project management career. Schuster is a results-first professional who brings single-minded determination to clients. He is as productive working with teammates and contractors as he is interfacing with executives and clients.
SCOTTSDALE, AZ—GPS Retail Advisors has hired Martin Leon, who will focus
on land brokerage, retail investment sales and national retailer representation.
His current active client roster includes Wendy's, Smart & Final and Stardust Building Supplies. Leon joins from DeRito Partners, where he was one of the top producers with the firm.
NEWPORT BEACH, CA—Stan Johnson has hired Matt Lipson as associate director on the West Coast. Lipson will be based in the firm's new Newport Beach office. He joins the firm from CIRE Partners where he served as a Senior Investment Associate for the past six years. Previously he worked at Marcus & Millichap and is a graduate of San Diego State University.
DEALTARCKER
PHOENIX—A 27,711-square-foot two-story office building located at 399 South Malpais Lane has traded hands for $7.4 million between Anthem Boise and The Shoppes at Osgood. This Class-A office building was built in 2014 and is situated on 1.81 acres just west of Northern Arizona University along Milton Road, Flagstaff's major north-south commuter thoroughfare. The building is ±85 percent leased to a diverse group of office and medical tenants, including CollegeAmerica, NextCare Urgent Care and Arizona Arthritis & Rheumatology Associates PC. Andrew K. Fosberg and Dylan A. Brown with CBRE's Phoenix office and Jeffrey S. Pion with CBRE's Los Angeles office represented the seller. Matt Olson of Property Resource Group represented the buyer.
PHOENIX—Orsett Properties has sold Pinnacle Peak Commerce Center for $14.2 million to Nicola Crosby, a real estate and asset management company. Kidder Mathews commercial real estate brokers Darren Tappen, Peter Beauchamp, Mike Ciosek, and Eric Bell, represented both parties in the transaction. Pinnacle Peak Commerce Center is a 93,725 square foot, state-of-the-art flex/industrial property located at 23751 North 23rd Avenue in Phoenix, Arizona, near Interstate 17.
San Diego, CA—Interstate Equities Corporation has acquired a 133-unit value-add apartment complex for $33.95 million in the La Mesa submarket of San Diego. The firm's IEC Institutional Fund III, purchased the asset. The firm plans to continue acquiring assets that meet the firm's investment criteria. The property was 96% occupied when purchased. Shane Shafer, Ed Rosen, John Chu, and Kyle Pinkalla of Berkadia brokered the transaction. David Bleiweiss at Berkadia worked on the debt placement.
BREA, CA—PharMedQuest Pharmacy Services has leased 13,268-square-feet of office space located at 330 E. Lambert Road in Brea, California, for a total consideration of $1.4 million. Lee & Associates' Marshal Vogt and Erik Thompson negotiated the lease deal on behalf of the landlord, Brea Metro, LLC, and Matt Didier of CBRE represented the tenant. 330 E. Lambert Road is a 43,800 square-foot, two-story premier office building offering tenants a professional business environment with proximity to major freeways and numerous amenities.
IRVINE, CA—Ware Malcomb has completed construction on the Thales offices located at 53 Discovery in Irvine, California. Ware Malcomb provided interior architecture & design, branding and civil engineering services for the project. The 61,000 square foot project for Thales, was designed to accommodate the firm's strategic objectives while reflecting its values of collaboration, innovation and building a community at work. The design incorporates state-of-the-art technology in a flexible open work environment for both employees and visitors from around the globe. Adhering to the design standards previously developed by Ware Malcomb, the space appeals to a diverse demographic, especially the younger generation of engineers, while providing an efficient facility that embraces new ways for people to work and come together.
SANTA MONICA—KFA has completed renovating Immanuel Place, a historic, 90-year-old Immanuel Church and created an attractive, affordable senior housing project. Developed by Thomas Safran & Associates, Immanuel Senior Housing is located at 3215 E 3rd Street in the Bluff Heights Historic District of Long Beach, CA. KFA is a leader in innovative, urban infill developments and adaptive reuse affordable housing projects, with a track record that includes restoring and breathing new life into many buildings listed on the National Register of Historic Places. In addition to the adaptive reuse of the church, the project included the removal of an adjacent 1920s Craftsman home to make room for the new parking lot. The historic home was transported to a vacant lot in Long Beach where it will be reused.
SANTA ANA, CA—Sherry Lane Garden Homes, a 62-unit, all single-story apartment complex in Santa Ana, California, has traded hands for $19.85 million. Joseph Berkson represented the seller, and procured the buyer, Montgomery Partners, an investment group based in Mill Valley, California. The property is located at 1920 Sherry Lane in Santa Ana near the 5, 22 and 55 freeways.
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