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A Downtown L.A. highrise trades for $80 mil. Washington Capital Management has purchased the 40-story, 700k sf 445 South Figueroa tower on behalf of SOUTHWEST CARPENTERS PENSION TRUST. Newmark Co-Head of U.S. Capital Markets Kevin Shannon, Vice Chairmen Ken White, Rob Hannan, Laura Stumm and Michael Moll, Executive Managing Director Bill Bloodgood, Senior Managing Director Christopher Benton and Managing Director Anthony Muhlstein, as well as Co-President of Global Debt & Structured Finance Jonathan Firestone represented the seller, W/B Union Plaza Holdings LLC. Newmark also the buyer in the deal. https://lnkd.in/g86j4jXG

Envision / Faring Venture pays $90 mil for Beverly Hills office building. The 133k sf property, located at 9242 Beverly Blvd, goes for $675/sf. The asset was sold by Tishman Speyer, who purchased the building in 2005 for approximately $38 mil. https://lnkd.in/g424cfeD

Rockefeller Group has started work on a 418k sf AZ distribution center. The project, Surprise Pointe Commerce Center, can accommodate one to four tenants and offers 36-foot clear height, 80 dock doors, a 190’ truck yard, 103 truck trailer parking stalls, 466 auto-parking stalls and custom-designed office space. Cooper Fratt and John Werstler of CBRE are marketing the project for lease or sale. Ware Malcomb designed the project and Layton Construction was the general contractor. Rockefeller Group’s civil engineer, who has extensive experience in Phoenix, was Hunter Engineering Inc. https://lnkd.in/geJKuv_x

SENTRE spends $49 mil on AZ industrial asset. The freestanding building in Tolleson sits on 15 acres. Located at 7980-7990 West Buckeye Rd, the single-tenant facility is fully leased on a long-term basis to a leading manufacturer of foodservice products. Cushman & Wakefield’s Private Capital Group in Phoenix consisting of Phil Haenel, Will Strong, Foster Bundy and Katie Repine represented the seller, Chicago-based Brennan Investment Group, in the transaction. https://lnkd.in/guSbNzKV

US ELogistics Service Corp has leased a 303k sf space at Constellation Post Oak, a two-building Houston industrial development. In addition, D&R signed for 45k sf of space at the 454k sf project, which is now 82% leased. Zack Taylor, SIOR and Barkley Peschel, SIOR, CCIM of Colliers oversee leasing at Constellation Post Oak and represented the ownership, Constellation Real Estate Partners and a real estate fund advised by Crow Holdings Capital, in both leases. US Elogistics Service Corp was represented by Robert McGee, SIOR of Lee & Associates. D&R Signs, LLC was repped by Heath Donica of Stream Realty Partners. https://lnkd.in/gQXhf7BF

Carlsbad industrial/flex facility trades in $49.5 mil owner/user buy -- IDEC Corporation buys freestanding 233k sf building. IDEC Corporation - Global Headquarters, which is relocating its existing operation from Silicon Valley, plans to occupy a majority of the two-story facility, located at 2200 Faraday Ave. The buyer will continue to lease out a portion of the space to the building’s existing tenants. Cushman & Wakefield’s Aric Starck and Drew Dodds represented the seller, Hill Companies LLC, a Greenwood Village, CO-based investment firm, in the disposition. Cushman & Wakefield’s Peter Curry and CBRE’s @dennis visser and Weston Yahn repped the buyer. https://lnkd.in/gnWZeS58

Tishman Speyer and Mitsui Fudosan America have started work on a ground up industrial project in Irvine. The first phase of Bake Freeway Business Park will contain 380k sf of space in two buildings. The structure at 15700 Bake Pkwy will encompass 176.3k sf on 9.5 acres with 186 parking stalls. The 15800 Bake Pkwy building will contain 202.8k sf on 10 acres with 287 parking stalls. https://lnkd.in/g4U69CHB

San Diego multifamily asset trades for over $82 mil -- 229-unit Market Street Apartments in East Village is purchased at a price of $358k per unit. The property was sold by Equity Residential. Colliers' Kitty Wallace Team represented both parties in the transaction, which closed at a 4.5% cap rate. https://lnkd.in/gaQcpntG

Real Estate Development Associates (REDA) and Clarion Partners LLC have finished work on a 250k sf industrial project situated on over 11 acres at 3690 E Union Pacific Ave in Central L.A. The development, Union Commerce Center, was built on a spec basis. John Minervini, Erik Larson, Chris Tolles, and Paul Sims with Cushman & Wakefield are leading leasing efforts for the new industrial facility. https://lnkd.in/g-N3pkSk

Retail Real Estate Outlook: Expectations for 2025 -- Will retail real estate hold strong in 2025? Hear First American Economist Xander Snyder and Michael Bull, CCIM, as they discuss the latest on retail property performance, cap rates, and expectations moving forward on this recent episode of America's Commercial Real Estate Show on The REview (www.rentvreview.com) https://lnkd.in/gZ2rdi57