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

SAN DIEGO—BNBuilders has hired Jay Jadeja as a senior project manager in its San Diego office. He brings nearly 25 years of commercial construction experience,

having worked for Align Builders and DPR Construction prior to joining BNBuilders. He has previously managed projects for numerous life science and healthcare clients including Illumina, Scripps, Pfizer, and UC San Diego. At BNBuilders, he will primarily be supporting the firm's work with life science companies.

Pasadena, CA—C.W. Driver Companies has hired Carl Lowman as chief financial officer. In this role, Lowman will leverage his robust accounting and finance background with global engineering, consulting and construction services firms to enhance C.W. Driver's profitability and establish a solid foundation for future company growth. Over the course of three decades, Lowman has held various finance positions of increasing responsibility in the architectural, engineering and construction management industries. Prior to joining C.W. Driver, he was the former vice president and west division business manager for Kleinfelder and served a nearly 10-year tenure at MWH in a variety of financial capacities. A seasoned financial executive with more than 30 years of experience spanning financial planning and analysis, treasury, finance operations and internal audit, he holds memberships with Financial Executives International and Financial Executives Networking Group, national organizations for executive-level financial professionals.

DEALTRACKER

Sharp Chula Vista Medical Center is adding new 138-room expansion to its existing 343-bed hospital. The project broke ground last year, and this week it reached a milestone when 3,580 pieces of steel were used to create the hospital's framework, weighing nearly 1,800 tons total. Upon completion, this project will be the South Bay's first new hospital in more than 40 years. Once open, the $244 million hospital will add 138 large, private patient rooms; six operating rooms, including the South Bay's only hybrid procedure room; a rooftop café and more to meet the needs of San Diego's South County region – one of the fastest growing in the nation. The project is Sharp's largest single investment to date and is being funded through philanthropic donations to Sharp HealthCare Foundation, bonds, cash reserves and the Medi-Cal Hospital Fee Program. The construction team includes Hensel Phelps Construction, AVRP Skyport and SmithGroupJJR.

PHOENIX—Mountain Park, a 240-unit apartment complex located in Phoenix's Ahwatukee Foothills Village, has traded hands for $40.4 million, which equates to $168,333 per unit. Mountain Park's residents have immediate access to Interstate 10, Loop 202/the Santan Freeway, U.S. 60/the Superstition Freeway, Loop 101/the Price Freeway, and the Loop 202 Expansion/South Mountain Freeway. The nearly 1.3-million-square-foot Chandler Fashion Center is less than a mile away and the Ahwatukee Foothills Towne Center and Phoenix Premium Outlets are nearby. The West Chandler Corridor, an 11 million-square-foot aerospace, high technology, distribution, advanced business, and customer care operations employment hub is located immediately east of the community. Developed in 1994, Mountain Park is set against a scenic backdrop of Phoenix Mountain Preserve and South Mountain State Park.

TUCSON, AZ—Desert Palms, a 68-unit apartment property located in Tucson, AZ, has traded hands for $3.1 million. Hamid Panahi, James K. Crawley, Cliff David and Steve Gebing, investment specialists in Marcus & Millichap's Phoenix office, had the exclusive listing to market the property on behalf of the seller, a limited liability company. The buyer, a private investor, was secured and represented by Sean Kameli and Sevak Keshishian , investment specialists in Marcus & Millichap's Encino office.

LOS ANGELES—Paragon Commercial Group LLC has sold a 12,715-square-foot retail property to Millenium Investment LLC for $8.2 million in a record-setting sale. CBRE's Senior Vice Presidents Alex Kozakov and Patrick Wade represented the seller, Paragon Commercial Group, in the transaction. Paragon, a fully integrated retail development group based in Southern California, spent years in the assemblage and entitlement of the property in the high-barriers-to-entry submarket of East Los Angeles. Located at 3627 East Cesar E Chavez Avenue, the property is leased to a CVS Pharmacy and is situated less than 3 miles from Downtown Los Angeles with a population density of more than 300,000 people within a 3-mile radius.

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

SAN DIEGO—BNBuilders has hired Jay Jadeja as a senior project manager in its San Diego office. He brings nearly 25 years of commercial construction experience,

DEALTRACKER

Instant Insights /

Middle Market Digest: Southwest

Related Stories

Recommended For You