Western Real Estate Business

SEP 2018

Western Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Western United States.

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WAREHOUSE: 417,637 SF PROPOSED BUILDING C A L I F O R N I A www.REBusinessOnline.com Western Real Estate Business • September 2018 • 7 BROADREACH, ROCKWOOD BREAK GROUND ON $250 MILLION BAY AREA MIXED-USE PROJECT MOUNTAIN VIEW, CALIF. — Broad- reach Capital Partners and Rock- wood Capital have broken ground on Ameswell Mountain View, a mixed- use development situated on one of the last fully entitled development sites in Mountain View, just northwest of San Jose. Located at the convergence of U.S. 101 and State Route 85, the prop- erty is the culmination of four years of planning and land assemblage by Broadreach. Situated on 10 acres, the project will feature a 220,000-square- foot, Class A office building and The Ameswell Hotel, a 255-room luxury hotel. The office building will feature 47,000-square-foot floor plates, ceiling heights up to 16 feet and full-height windows. On-site amenities include a roof deck, terraces and breakout ar- eas to connect tenant space with the outdoor environment. Additionally, parking is structured as three park- ing stalls per 1,000 square feet of of- fice space. Broadreach has retained Newmark Cornish & Carey as leasing agents for the office building, which is slated for completion in Novem- ber 2019. Set to open in July 2020, The Ameswell Hotel will feature creative, local design with a strong emphasis on art and technology. The hotel will include more than 6,000 square feet of meeting space, a fitness center, restaurant with outdoor dining, beer garden, pool, and lounge area with cabanas, fire pits and an event lawn. The development team includes WRNS Studio and RYS Architects as architects; BAMO as interior designer; SWA Group as landscape architect; and Vance Brown Inc. and Johnstone Moyer Inc. as general contractors. HFF arranged the $250 million capi- talization of the project, as well as a $140 million construction loan. IREA NEGOTIATES $6.8 MILLION SALE OF APARTMENT BUILDING IN NORTH HOLLYWOOD LOS ANGELES — IREA has arranged the sale of an apartment building lo- cated at 5543 Case Ave. in Los Ange- les' North Hollywood district. A pri- vate individual sold the property to an undisclosed buyer for $6.8 million, or $381,000 per unit. The property features 18 apartments within walk- ing distance to the North Hollywood Metro Red Line Station. On-site ame- nities include two outdoor resident lounges and a secured and gated dog- walk area. Within the last 12 months, the property underwent renovations including new exterior paint, front door, mailboxes, landscaping, sig- nage, laundry room and LED lighting. Jonathan Krikorian, Clark Everitt and William Everitt of IREA represented the seller in the deal. JOINT VENTURE BUYS FORMER CONVENT FOR APARTMENT CONVERSION LA MESA, CALIF. — Pathfinder Part- ners has partnered with San Diego- based Silvergate Development to ac- quire a 4.1-acre former convent and seniors housing community in La Mesa for an undisclosed price. The partnership plans to develop Little Flower Haven, a 130-unit apartment community on the site. Development plans include preserving portions of the 1930s-era mission-style property, including the existing bell tower and chapel. Once complete, the property will feature 68 one-bedroom/one- bath units, 55 two-bedroom/two-bath apartments and seven studio units. Each unit will feature stainless steel appliances, in-unit washer/dryers, central heat and air conditioning, new flooring and solid-surface counter- tops. On-site amenities will include a recreation room with kitchen, fitness facility, exterior decks, pool and spa, barbecues, electric vehicle charging stations, bike lockers, resident storage areas, covered parking and dog park. Construction is slated to begin this fall. Austin Dias of Duhs Commer- cial represented the buyer, while Eric Knowles of Kidder Mathews repre- sented the undisclosed seller. TMG PARTNERS SELLS 320,000 SF OFFICE BUILDING TO KKR OAKLAND, CALIF. — TMG Partners has completed the sale of 1330 Broadway, an office building located in downtown Oakland. KKR, a global investment firm, acquired the property for an undisclosed price. In addition to the sale, TMG is partnering with KKR and will continue with on-site property management and asset management. TMG originally purchased the 18-story, 320,000-square-foot building in November 2015. Tenants at the property include Oracle, Arup, Clovis Oncology, UCSF, Verizon, Chase Bank and Citizens Engagement Lab. HANLEY INVESTMENT GROUP ARRANGES $10.3 MILLION SALE OF SHOPPING CENTER SACRAMENTO, CALIF. — Hanley Investment Group Real Estate Advi- sors has brokered the sale of Natomas Shopping Center in Sacramento. A Ba- kersfield-based private investor sold the property to another private inves- tor for $10.7 million in an off-market transaction. CVS/pharmacy, Ace Hardware and Dollar Tree anchor the 50,168-square-foot property. Built in 2007, the asset is situated on 7.5 acres at 2000-2050 Club Center Drive. At the time of sale, the retail center was 100 percent occupied. Kevin Fryman and Bill Asher of Hanley Investment represented the seller, while the buyer was self-represented in the deal. COMMERCIAL REAL ESTATE LEASING & SALES DEVELOPMENT S T O P S T O P S T OP STOP ST O P AHEAD S T O P S L O W SL OW P E D P ED X I N G X I N G A H E A D G A S M E T E R L O C A T I O N P E R P L U M B I N G D R A W I N G S . ELE CT RI C V EH IC LE CLEAN AIR ELE CT RI C V EH IC LE ELE CT RI C V EH IC LE ELE CT RI C V EH IC LE CLEAN AIR CLEAN AIR CLEAN AIR CLEAN AIR CLEAN AIR CLEAN AIR CLEAN AIR ELE CT RI C V EH IC LE CLEAN AIR ELE CT RI C V EH IC LE ELE CT RI C V EH IC LE ELE CT RI C V EH IC LE CLEAN AIR CLEAN AIR CLEAN AIR CLEAN AIR CLEAN AIR CLEAN AIR CLEAN AIR CLEAN AIR ELE CT RI C V EH IC LE CLEAN AIR ELE CT RI C V EH IC LE CLEAN AIR ELE CT RI C V EH IC LE CLEAN AIR ELE CT RI C V EH IC LE CLEAN AIR CLEAN AIR ELE CT RI C V EH IC LE CLEAN AIR ELE CT RI C V EH IC LE CLEAN AIR ELE CT RI C V EH IC LE CLEAN AIR ELE CT RI C V EH IC LE CLEAN AIR ELE CT RI C V EH IC LE CLEAN AIR ELE CT RI C V EH IC LE CLEAN AIR CLEAN AIR CLEAN AIR V A N V A N DETENTION BASIN O W IN T E R S S T MCCLELLAN PARK DR. NORTH AVE. (INCLUDING OFFICE: 21,000 SF) TRANSFORMERS FUTURE EMPLOYEE BREAK AREA PRIVATE ROAD FUTURE EMPLOYEE BREAK AREA EXISITING COMMERCIAL ZONE C-2 55'-0" 3 0 ' -0 " 2 7 ' - 0 " 60'-0" 75'-0" 40'-0" 53'-6 1/2" 30'-0" 60'-0" 60'-0" 50'-0" 50'-0" 60'-0" 9'-0" TYP. 25'-0" 26'-0" 9'-0" TYP. 26'-0" 19'-7" 40'-0" 26'-0" 60'-0" 75'-0" 15'-0" 252'-9 1/4" 420'-0" 150'-0" 206'-4" 995'-0" 106'-7" 19'-0" TYP. 10'-0" 23'-0" 54'-0" 22'-0" 22'-0" 54'-0" 22'-0" 12'-0" TYP. 26'-0" 4 6 3 TYP. 63'-0 1/4" 6 5 ' - 4 1 / 2 " TYP. 7 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 8 6 6 6 6 3 2 8 8 8 8 8 8 8 8 8 8 8 8 36 TYP. TYP. 77'-0" TYP. TYP. 107 102 101 110 102 101 110 112 109 109 103 111 105 105 108 115 116 118 120 122 121 119 113 100 100 123 123 100 106 100 106 106 108 106 114 114 114 114 104 104 124 124 124 124 125 125 125 LOS 2/A1.1 2/A1.2 A1.2 1 A8.1 9 A8.1 9 417,214 SF COMING FALL 2018 Leasing@McClellanPark.com BUILDING SPECIFICATIONS 417,214 SF 22.9 Acre Parcel Master Planned Industrial Park ESFR Fire Sprinkler System 2,000 Amps 480/277 36' Clear Height 50'x54' Column Spacing Roof: 20 Year - 60 mil - single ply Cross Dock Loading - 135' Courts Truck Apron: 60' Dock Doors: 95 Grade Level Doors: 4 LOCATION Interstate 80 Visibility Excellent Access to Interstate 80 (1/4 mile to I-80/Winters) Rail Spur Potential (UP/BNSF) On-Site Sacramento McClellan Airport Access to I-5: 6.5 miles Distance to Stockton: 57 miles Distance to Oakland: 87 miles Distance to San Francisco: 93 miles Slated to open in July 2020, The Ameswell Hotel will feature 255 guest rooms, a restaurant with outdoor dining, a beer garden, a pool and lounge area with cabanas, and an event lawn.

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