NEW & NOTABLE
PHOENIX—Newmark Knight Frank has hired CJ Osbrink as executive managing director in its Phoenix office, joining the West Coast Capital Markets team under the direction of NKF West Coast Capital Markets President Kevin Shannon. Osbrink comes to NKF from HFF where he served as managing director in the firm's Phoenix office. He brings more than11 years of commercial real estate experience specializing in office and retail investment sales throughout Arizona and Southern California. Osbrink has also served as a director of acquisitions at a private Orange County-based firm. Before that, Osbrink was a senior associate of acquisitions at Grubb & Ellis Realty Investors.

SAN DIEGO—Peter Quinn has joined Kidder Mathews' San Diego office as SVP where he will focus on investment properties. Quinn is a veteran broker with over 35 years of experience in the commercial real estate industry. Prior to joining Kidder Mathews, he was with McKinney Advisory Group. His notable clients include Bank of America, Eastman Kodak, Eli Lilly, and Wells Fargo.

NEWPORT BEACH—KBS Capital Markets Group has hired Christopher Cannata and David DiDonato as regional VPs and has promoted Russell Browning to regional VP. Browning joined KBS in 2015 as an internal sales associate. In his new role of regional vice president, he is tasked with building relationships with financial advisors throughout Northern California, Nevada and Hawaii, and distributing alternative investment offerings backed by the institutional experience and service of KBS. Prior to joining KBS, he worked at Cushman & Wakefield. Cannata and Mr. DiDonato join the firm with extensive experience as both financial advisors and wholesalers. They were both most recently wholesalers for W.P. Carey in their respective territories. Cannata will support the Southeast region, including Alabama, Florida, Georgia and Mississippi, while DiDonato will support Southern California.

PHOENIX—Rob Martensen has been elected president of the Society of Industrial and Office REALTORS, after eight years of serving on the Board of Directors in the organization. Martensen is an executive vice president in the industrial properties division of Colliers International in Greater Phoenix and celebrates his 20th anniversary with the company this year. He has consistently been ranked as a Top Producer for the company.

HONOLULU—CBRE has hired retail duo Kelli Yanagawa Wilinski and Jo McGarry Curran to its Retail Services in Hawaii as first VPs. The team will be based at the firm's Honolulu office. Yanagawa Wilinski and McGarry Curran will be uniquely able to support and elevate CBRE's local and national retail practice with their multifaceted expertise and background. Yanagawa Wilinski joins CBRE from Colliers International, where she handled some of the region's most important landlord and tenant clients. McGarry Curran joins the firm from Pacific Property Group, and is the founder of MoJo, the only full service restaurant advisory in the State.
DEALTRACKER

LOS ANGELES—Allstate, in partnership with CBRE Global Investors, has acquired Tempe Logistics Center, a 175,314-square foot industrial building located in the Southeast Valley submarket of Phoenix, Arizona. The asset is fully leased to high-quality, investment-grade tenants. Tempe Logistics Center is centrally located with access to major arteries allowing quick distribution throughout the Phoenix metro area. It also offers easy access to Phoenix Sky Harbor International Airport and is proximate to Arizona State University and the associated amenity base, which helps tenants attract and retain employees. Located at 1524 W. 14th Street in Tempe, the property is a “last-mile” warehouse with 18- to 24-foot clear heights, automatic fire suppression, 23 dock loading doors, six grade-level doors, an over-standard parking ratio, and 130-foot truck courts, which allow for greater maneuverability and better accommodation of multiple trucks. Recent tenant improvements include the installation of full air conditioning in the office and warehouse space, a new office and kitchen buildout, and an upgraded power supply. Cushman & Wakefield's Phoenix industrial team of Will Strong; Mike Haenel; Andy Markham, SIOR; and Phil Haenel negotiated the transaction on behalf of the seller, LBA Realty.

SAN DIEGO—City Office REIT has secured $47 million in financing for Mission City Corporate Center, a four-building office portfolio totaling approximately 290,000 square feet in Mission Valley, San Diego, California. Mission City Corporate Center comprises 2355, 2365, 2375 and 2385 Northside Drive, which in total are 87% leased to tenants. The properties feature two parking structures with 987 parking spaces shared between the four buildings and a newly installed solar field. Situated in the heart of Mission Valley, the portfolio has immediate access to several major thoroughfares, including Interstates 15, 8 and 805 and Highway 163. HFF secured the 10-year, fixed-rate acquisition loan through one of its life insurance company lenders on behalf of the borrower. The HFF debt placement team representing the borrower included senior director Zack Holderman and senior managing director Tim Wright.

PHOENIX—Central Arizona Distribution Center has traded hands for $13.6 million between Clarion Partners and Harrison Development. The 581,038-square-foot building is 63% leased to three tenants, with additional vacant space providing upside potential in the active Casa Grande industrial market. JLL Managing Directors Mark Detmer and Bo Mills, EVP Pat Harlan and VP Ryan Sitov represented the building seller. Central Arizona Distribution Center is located at 2592 E. Hanna Road in Casa Grande, Arizona.

PHOENIX—A 350-unit class-A multifamily community located at 1602 E. Highland Avenue in Phoenix, Arizona, has traded hands between Wood Partners and an unnamed investor. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE's Phoenix office represented the seller, Atlanta, GA-based Wood Partners. Built in 1998, Altera Highland is a class-A multifamily community situated on 13.5 acres, featuring spacious one-, two- and three-bedroom floor plans with detached single or double garages. All 350 units were renovated in 2017, receiving upgraded vinyl wood-plank flooring, stainless steel appliances, quartz countertops and modern plumbing and lighting fixtures. Transformational common area upgrades recently completed at the property include a newly renovated clubhouse, state-of-the-art fitness center, and a resort-style pool and spa area featuring private cabanas, new furniture, an outdoor kitchen and an outdoor fireplace.

SCOTTSDALE—A joint venture between Bascom Arizona Ventures and Pacific Life Insurance Co. has acquired two luxury apartment communities totaling 724 units for $148 million or $204,420 per unit. Located in the highly desirable Kierland master-planned community of North Scottsdale, the properties are within walking distance to the Scottsdale Quarter, Kierland Commons, and the Westin Kierland Resort, Spa, & Golf. Quadrant Real Estate Advisors LLC provided debt financing, which was arranged by Brian Eisendrath, Brandon Smith, and Annie Rice of CBRE. James Reed of Lincoln Group of Companies advised the buyer and seller in the transactions. The onsite property management will be overseen by Arizona based Alliance Residential.

LOS ANGELES—An office building in North Hollywood, CA has sold to Swift Real Estate Partners for $23.5 million from Curo Enterprises. CBRE's Todd Tydlaska, Mike Longo, Sean Sullivan, Matt Heyn, and Troy Pollet represented the seller. The class-A, 73,949 square-foot office building is located at 4640 Lankershim within the Media District submarket of Los Angeles. The property is currently 100% leased to multiple tenants. The site sits near three major freeways, less than one mile from the North Hollywood Metro Station, and a short minute drive to three major Hollywood studios. This is the second office acquisition for Swift in North Hollywood over the last 12 months. The firm recently acquired The Academy Tower, a 176,000 -square-foot office and retail project a couple blocks down the street from 4640 Lankershim.

BEVERLY HILLS—Quantum Capital Partners has arranged $32.85 million in CMBS debt secured by a six-story, 107,000-square-foot office building located at 12301 Wilshire Boulevard in West Los Angeles. Proceeds from the 10-year, interest only loan will be used to retire existing debt and return equity to the ownership, a local partnership of tenant-in-common investors. The ownership group acquired the building in 2014. Built in 1974 and renovated in 2010, 12301 Wilshire is 96% leased to a mix of office and medical office tenants. The building is located in Los Angeles' upscale Brentwood neighborhood, which boasts a rich amenity base of restaurants and shopping and is less than five miles from the popular beaches in Santa Monica.

LOS ANGELES—Murrieta Town Center, a 334,939-square-foot, value-add community shopping center in the Southern California community of Murrieta, has traded hands for $56.6 million between Jade Enterprises and U.S. Realty Partners. The HFF's Bryan Ley, Gleb Lvovich and Justin Kundrak represented the seller in the deal. Murrieta Town Center is 81% leased and anchored by Burlington, Rite Aid, Ross Dress for Less, Marshalls, Famous Footwear, Dollar Tree and Sizzler. The center also features a synergistic mix of daily needs retailers and food tenants that cater to the surrounding trade area. The center is situated on 32.47 acres at 39815-39885 Alta Murrieta Drive and 40461-40489 Murrieta Hot Springs Road in Murrieta, an affluent community approximately 40 miles north of San Diego and 50 miles east of Orange County. The center is located at the junction of the Interstate 15 and 215 Freeways, providing visibility to more than 91,000 vehicles per day. There are more than 104,149 residents earning an average annual household income of $83,588 within a three-mile radius of the center.

LOS ANGELES—Michael Elmore, EVP of NorthMarq Capital's Los Angeles regional office, has secured $18 million to refinance a 354,809 sq. ft. industrial property located at 1444 South Alameda Street in Los Angeles, California. The transaction was structured with a 5-year term on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a life insurance company.

LOS ANGELES—Lion Real Estate Group has acquired a 207-unit, three-property apartment portfolio in California's San Fernando Valley for $41.6 million. The transaction was sourced off-market from a Los Angeles-based private investor who developed the properties over 40 years ago. Lion Real Estate Group will implement a renovation program that includes upgrading the exteriors, improving the common area amenities and renovating the units as they turn.

NEWPORT BEACH, CA—HFF has secured $39 million in financing for Towne Centre, a 292,271-square-foot, three building, Class A office campus located in the Orange County, California, on behalf of Menlo Equities LLC. The HFF team secured the five-year, floating-rate loan through Wells Fargo Bank. Towne Centre comprises three two-story buildings located at 27042, 27051 and 27121 Towne Centre Drive, adjacent to the 241 Toll Road in the South Orange County submarket. The property sits on a total of 18.4 acres on both sides of Towne Centre Drive, providing excellent access to the Foothill Transportation Corridor and the Santa Ana (Interstate 5) and San Diego (Interstate 405) freeways. Additionally, Towne Centre is proximate to a variety of local amenities including Foothill Towne Center, the Great Park of Orange County, and the Irvine Spectrum Center. Renovated in 2015 and 2016, the multi-tenant, creative/tech-driven office property is 77% leased to tenants including Ossur America, Rockwell Automation, Edward Jones, AVST, First National Capital, Fujitsu, Eagle Community Credit Union and Cox Communications. The HFF debt placement team representing the borrower included senior managing director and co-head of HFF's West Coast region Kevin MacKenzie, senior director Greg Brown, director Jamie Kline and analyst Nick Lench.

BUILDING BLOCKS

LOS ANGELES—Hackman Capital Partners is breaking ground on The Culver Steps next week. The dynamic, 1.16-acre retail-office development, which consists of 45,000 square feet of retail space, 70,000 square feet of offices, and a 35,000-square-foot public plaza, is rising on the long-vacant parcel adjacent to The Culver Studios mansion and the Culver Hotel in Downtown Culver City, also known as Parcel B.