LOS ANGELES—Our bi-weekly update on the middle markets throughout the Southwest region. Here's a look at the latest news, announcements and deals that you may have missed in Southern California, Nevada, Arizona and Utah.

NEWS & NOTABLES

BEVERLY HILLS, CA—The Southern California chapter of CoreNet Global held its 10th annual REmmy Awards, welcoming more than 300 commercial real estate industry professionals to the Beverly Hills Hotel. Real Estate Executive/Team of the Year went to First American Corporate Real Estate team led by Elise Luckham, VP and director of Corporate Real Estate at First American and Cushman & Wakefield; Young Leader of the Year went to Anya Ostry, associate director at Cushman & Wakefield; Innovative Workplace, less Than 50,000 square feet, went to the Downtown Los Angeles team of Tangram Headquarters Renovation, including Tangram Interiors, MOZU and Holwick Constructors; Innovative Workplace, greater than 50,000 square feet went to Edmunds.com headquarters in Santa Monica, designed by M + M Creative Studio.

TUSTIN, CA—Ben Terry has been promoted to VP of Retail Brokerage at Coreland Cos. Terry first joined Coreland in 2009, and formerly served as leasing director at Red Mountain Group. He has been integral in growing the portfolio, and for the past three years has been recognized with CoStar Group's “Power Broker” Award as one of Orange County's Top Retail Leasing Brokers. Terry has completed transactions with national, regional and local tenants in excess of $150 million in lease consideration.

LOS ANGELES—CBRE has hired Jesse Garson Zarouk to the firm's Capital Markets' Debt & Structured Finance team as EVP. Zaroul will be based in the firm's El Segundo office and will enhance the team's capabilities in the institutional loan space in the Southern California market. He joins the firm from Cantor Commercial Real Estate, where he served as managing director in the Los Angeles office. During his seven-year tenure at CCRE, he covered many of the firm's high-profile clients and spearheaded business development efforts across the western region.

DEALTRACKER

LOS ANGELES—NSB Associates has acquired a two-story, 59,395-square-foot office building along with a four-story, 545-space parking structure in El Segundo, from an unnamed institutional investor. The multi-tenant class-B property is fully occupied. It features an elevator, two ground-level doors and excess parking, which provides additional parking revenue from nearby office users. It is directly across the street from the Los Angeles Air Force Base and Aerospace Corporation and is adjacent to the 142-acre Raytheon campus. The asset provides easy access to the 105 and 405 freeways and is just three miles north of Los Angeles International Airport. Avison Young principal Alan Pekarcik and senior associate Chris Smith represented the seller. The buyer represented itself.

PERRIS, CA—An investor operating as Double Run has acquired a 309,278-square-foot industrial building located at 3407 & 3411 N. Perris Blvd in Perris, CA, for $15.4 million. Principal Allen C. Buchanan and associate Joshua K. Harper of the Orange office of Lee & Associates represented the buyer in the deal. Doug Mack and Matt Pourcho of CBRE represented PV Perris LLC, the seller.

RENO, NV—Dalfen America Corp. has purchased a 5-building industrial portfolio in Sparks, Nevada for $55.3 million from Global Logistic Partners. The 1.3 million-square-foot portfolio is part of Lillard Business Center and Vista Industrial Park and is located within seven miles of the Reno-Tahoe International Airport, and in close proximity to Interstate 80. GLP also sold Westcore Properties a 12-building industrial portfolio in the same submarket for $54.5 million. The portfolio is located within the Sparks industrial submarket and contains a total of 1.2 million square feet. Kidder Mathews industrial brokers J. Michael Hoeck, Michael Nevis, Dave Simonsen and Steve Kucera, along with HFF's Anthony Brent, Ryan Martin and Scott Pertel, who represented the seller in this transaction.

PHOENIX—ConAm Asset Management Corp. has acquired Broadstone Sixteen 75, a 225-unit luxury class-A apartment community, located at 1675 East Morten Avenue in Phoenix, for $60 million from an affiliate of Alliance Residential. The class-A property was built in 2015, and is located in the highly desirable North Central Phoenix area at the base of Piestewa Peak near 16th Street and Morten Avenue, in close proximity to the AZ-51 freeway. It features one-, two-, two-bedroom with den and penthouse/loft-style residences as well as high-end finishes and amenities. Cushman & Wakefield executive managing directors David Fogler and Steven Nicoluzakis of the Phoenix office represented the seller in the deal.

LOS ANGELES—The owner of BluWater Crossing has secured a $26.7 million loan to refinance the property, a live work, mixed-use, class-A multifamily community in North San Diego. The transit-oriented property has 66 units featuring both live/work and townhome floor plans as well as 22,000 square feet of leasable commercial space. CBRE's vice chairman Brian Eisendrath and VP Brandon Smith secured the funds on behalf of the borrower.

NEWS & NOTABLES

DEALTRACKER

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Middle Market Digest: Southwest

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