PHOENIX, Ariz. – December 6, 2024 – Cushman & Wakefield announced the firm has advised the sale of a freestanding industrial asset totaling 322,070 square feet in Tolleson (Phoenix), Arizona. Located at 7980-7990 West Buckeye Road, the single-tenant facility is fully leased on a long-term basis to a leading manufacturer of foodservice products.

The property was acquired for $48.83 million by SENTRE, a vertically integrated real estate investment firm headquartered in San Diego with extensive experience in office, industrial, retail and multi-family properties. The seller was Brennan Investment Group, a Chicago-based private real estate investment firm that acquires, develops, and operates industrial facilities throughout the U.S.

Cushman & Wakefield’s Private Capital Group in Phoenix consisting of Phil Haenel, Will Strong, Foster Bundy and Katie Repine represented the seller in the transaction.

Phil Haenel said, “This exceptional asset features a core, stabilized industrial building located in Southwest Phoenix, a dynamic submarket with robust industrial fundamentals fueled by strong tenant demand. With a strong credit tenant committed to the property for many more years together with its premier location and modern functionality, the asset is well-positioned for long-term investment success.”

Occupying over 15 acres of the most core, infill pocket in Phoenix with proximity to key demand drivers, the property benefits from immediate access to major transportation corridors in the market, such as the ever-growing I-10 corridor, offering connectivity to greater Phoenix, the Southwest U.S. and Southern California within a 6-hour drive time. Originally built in 1988 and expanded in 2010, the property also features near ±35-foot clear height, ample loading, and heavy power.

Foster Bundy added, “According to Cushman & Wakefield’s Q3 2024 industrial market report, the Southwest Valley recorded an impressive 7.3 million square feet of occupancy growth year-to-date, outperforming all other submarkets in the thriving Phoenix Metro area by a substantial margin. The surge in demand for warehouse and logistics space in the Southwest Valley is driven by its strategic access to major transportation hubs, including railroads and the I-10, I-17, Loop 101, and Loop 202 freeways.

About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit cushmanwakefield.com.

About Brennan Investment Group

Brennan Investment Group, a Chicago-based private real estate investment firm, acquires, develops, and operates industrial properties in select major metropolitan markets throughout the United States. Since 2010, Brennan Investment Group has acquired or developed $5 billion in industrial real estate in 30 states. The company’s current portfolio spans 29 states and encompasses approximately 56 million square feet.

Brennan Investment Group co-invests with private and institutional capital to achieve outstanding risk-adjusted returns. The company has 17 regional offices throughout the United States and the firm’s management team is among the most accomplished in its industry, having invested in over 5,000 properties covering more than 60 cities throughout the United States, Canada and Europe.

For more information on Brennan Investment Group, go to brennanllc.com.

About SENTRE

Founded in 1989, SENTRE is a vertically integrated real estate investment firm headquartered in San Diego with extensive experience in industrial, office, retail, and multi-family properties. SENTRE has acquired, developed and/or operated projects throughout the Western United States (and Mexico) totaling more than 12 million square feet and $4.5B in transactional volume. SENTRE also co-founded Vesta, a publicly traded industrial real estate company operating in Mexico (NYSE: VTMX) with a portfolio of over 43 million square feet valued at $3.6 billion.

For additional information, visit SENTRE.com

TEMECULA, Calif. – January 3, 2024 – Cushman & Wakefield announced the firm has advised R.R. Donnelley & Sons Company (“RRD”), a leading global provider of multichannel business communication services and marketing solutions, in the sale of its 162,690-square-foot RRD Temecula Print Fulfillment & Distribution facility in Temecula (Riverside County), California. In conjunction with the disposition, RRD also agreed to a long-term leaseback to continue to occupy the entire facility that contributes to the company’s commercial printing business unit and provides a complete range of digital print-on-demand solutions.

The freestanding industrial property sold for $28.25 million to SENTRE, a vertically integrated commercial real estate investment management firm headquartered in San Diego.

Cushman & Wakefield’s Jeff Chiate, Rick Ellison, SIOR, Mike Adey, Bryce Aberg, Brad Brandenburg, and Matt Leupold firm’s national Industrial Advisory Group in Southern California represented RRD in the transaction.

“This was a desirable investment offering for a quality industrial asset in Southern California that is fully leased to a credit single-tenant, and in which the leaseback intends to provide predictable, stable cash flow on an absolute net lease. RRD’s historic and future commitment to this facility—which serves as a mission critical operation in the company’s network of facilities strategically located across the US—provides further investment stability,” said Executive Vice Chair Jeff Chiate. “Additionally, the sale of its real estate also benefits RRD providing immediate access to liquidity to continue to drive the company’s business forward.”

“Temecula’s limited supply of existing industrial space, combined with robust demand and modest new construction has established the city as a valuable industrial location among investors and prospective occupiers,” added Vice Chair Rick Ellison. “Temecula is one of the largest submarkets within the Inland Empire South market and acts as a southwestern anchor to the entire Inland Empire region. Temecula’s strategic proximity to the Inland Empire & San Diego coupled with strong leasing activity have kept its vacancy low at a mere 1.2% which has continued to fuel market rent growth and asking rates, according to Cushman & Wakefield’s research.”

About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in approximately 400 offices and 60 countries. In 2022, the firm reported revenue of $10.1 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), Environmental, Social and Governance (ESG) and more. For additional information, visit www.cushmanwakefield.com.

About R.R. Donnelley & Sons Company
RRD is a leading global provider of multichannel business communication services and marketing solutions via products and service offerings such as commercial print, packaging, labels, statements, supply chain management, forms, business process outsourcing, direct marketing, digital print and fulfillment and digital and creative solutions. RRD distributes its products and services globally to over 22,000 customers, including 92% of the Fortune 100, 79% of the Fortune 500 and 67% of the Fortune 1000. The Company operates 118 domestic facilities and 66 international facilities totaling approximately 18.0 million square feet and employing 32,000 people(1). For the full year ended December 31, 2022, RRD recognized $5.4 billion in net sales and $505.9 million in Adjusted EBITDA.

On December 14th, 2021, RRD entered into a definitive merger agreement with, and was subsequently acquired by, affiliates of Chatham Asset Management, LLC (“Chatham”) on February 25, 2022.

About SENTRE
Founded in 1989, SENTRE is a vertically integrated real estate investment firm headquartered in San Diego with extensive experience in office, industrial, retail and multi-family properties.  SENTRE has acquired, developed and/or operated projects throughout the West Coast totaling more than 10 million square feet and $4B in transactional volume. In addition, SENTRE co-founded Vesta, a dual listed (NYSE: VTMX; BMV: VESTA) publicly traded industrial real estate company operating in Mexico with a portfolio of over 33 million square feet valued in excess of $2.75 billion.

Wellness brand Life Time has opened an athletic country club in Orange County’s mixed-use development Lakeshore Irvine.

Life Time Lakeshore Irvine (NYSE: LTH) is the brand’s third location in Orange County, operating in a 94,000-square-foot space at 18007 Von Karman Ave.

Adding 120 team members, the club will offer six dedicated studios hosting more than 100 weekly Life Time large group classes in barre, cycle, group fitness, Pilates and yoga. It will also offer cardiovascular and strength training equipment, salon and spa services, and personal trainers to guide clients’ health practices.

Other highlights include an outdoor beach club featuring a five-lane lap pool with beach chairs, cabanas and a cafe; a regulation-size basketball court; infant and toddler areas with three studios for programming, including a kids’ gym, movement studio and an art/language studio; and hair, nail, esthetician and massage services at LifeSpa.

Life Time’s other club locations in Orange County are situated in Laguna Niguel and San Clemente, located 15 and 27 miles from the new club, respectively.

Lakeshore, a 900,000-square-foot highly amenitized office and retail campus in Irvine, has been steadily adding tenants after opening last year. In August, the campus added restaurants Bosscat Kitchen & Libations and Ten Sushi + Cocktail Bar, owned by Daily Dose Hospitality, opening across from Italian eatery Il Fornaio.

During its opening weekend, Life Time will be open from 6 a.m. to 10 p.m. Starting Monday, March 13, the club will operate daily from 4 a.m. to midnight.

SAN DIEGO – Mar. 8, 2023 – JLL Capital Markets announced today that it has closed the sale of and arranged $21.43 million in acquisition financing for Parkway Commerce Center, a multi-tenant industrial park totaling 147,907 square feet in Poway, California.

JLL represented an institutional investor in the sale to SENTRE. In addition, JLL worked on behalf of SENTRE to secure a fixed-rate loan with a correspondent insurance company.

Doug Arthur, President & CEO of SENTRE, “We appreciate the long-standing relationship with both Seller and JLL and welcome Parkway to our growing portfolio of best in class industrial”.

Parkway Commerce Center is comprised of two warehouse/distribution buildings and two industrial/flex buildings, which are leased to a diverse roster of tenants. The property features 19’-25’ clear heights and a total of 21 dock-high doors, 36 drive-in doors and 316 parking spaces.

Located on 9.8 acres at 13651, 13691, 13741 and 13771 Danielson St., Parkway Commerce Center offers direct access to Interstate 15, a major north/south transportation artery for the west coast. As a result, the tenants can offer same-day delivery to all Southern California.

The JLL Investment Sales team representing the Seller was led by Managing Director Bob Prendergast, Lynn LaChapelle, Ryan Spradling and Zach Saloff. “This transaction was an excellent example of the seller identifying a growth market early in the cycle, working closely with market leaders and completing its investment strategy,” said Prendergast.

The JLL Capital Markets team representing the borrower was led by Senior Managing Director Aldon Cole and Associate Brad Vansant.

JLL Agency leasing team led by Joe Anderson, Greg Moore and Jay Alexander will retain the leasing moving forward.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

Founded in 1989, SENTRE is a vertically integrated real estate investment firm headquartered in San Diego with extensive experience in office, industrial, retail and multi-family properties.  SENTRE has acquired, developed and/or operated projects throughout the West Coast totaling more than 10 million square feet and $4B in transactional volume.  In addition, SENTRE co-founded Vesta, a publicly traded industrial real estate company operating in Mexico with a portfolio of over 30 million square feet valued in excess of $2 billion.

IRVINE, Calif. – December 16, 2022

Berkadia Institutional Solutions announced today the sale of The Warwick, an 80-unit multifamily property located in the Hillcrest submarket of San Diego, California. Rachel Parsons, Ed Rosen, John Chu, and Tyler Sinks comple­ted the $37,375,000 sale on behalf of the seller, SENTRE, and the buyer, Spectrum Partners, an affiliate of LBA Realty.

“The Warwick is an award-winning boutique apartment community that was redeveloped from a preexisting hotel,” said Parsons. “SENTRE did a phenomenal job transforming the asset into a best-in-class community, which was recently ranked #1 in San Diego by the Union Tribune Readers Poll.”

Situated at 606 Washington Street and boasting a walk score of 92, The Warwick is located in the heart of San Diego’s renowned Hillcrest neighborhood. Featuring highly acclaimed restaurants, energetic nightlife, and one-of-a-kind street fairs and special events, the neighborhood, located just north of the famed Balboa Park and Downtown San Diego, is one of the most desired locations amongst millennials and young professionals living in San Diego.   Additionally, The Warwick is situated adjacent to two prominent healthcare campuses, Scripps Health and UCSD – which have billions in redevelopment projects planned and/or underway that will continue to bolster the immediate area.

The Warwick features efficient studio, one-bedroom, and two-bedroom floor plans with private terraces. The property also offers luxurious amenities often only seen in much larger communities, including but not limited to, a resort-style pool and sun deck with cabanas, curated fitness center, technology-enable package lockers, and programmable LATCH door locks. “The Warwick’s unique floor plans and resort lifestyle design caters to the broader demand for boutique high-end apartment communities in trendy urban areas like Hillcrest,” said Parsons.

Azusa, Calif. – November 30, 2022 – CBRE brokered the sale of Azusa Center, a two-building industrial property in Azusa, Calif., totaling 75,081 sq. ft. JAR Commercial Investments, LLC purchased the property from SENTRE – a vertically integrated real estate investment firm headquartered in San Diego – for $20.5 million.

CBRE’s Michael Longo, Barbara Perrier, Anthony DeLorenzo, Mark Shaffer, Darla Longo, Rebecca Perlmutter, Brett Hartzell, Joe Cesta, Paige Morgan, Eric Cox, Lynn Knox and Case Dahlen represented the seller in the transaction.
“The sale of Azusa Center is indicative of the strong investor demand for high-quality industrial real estate within the supply-constrained and low vacancy submarkets of Southern California,” said Michael Longo, Senior Vice President of CBRE. “With access to over 7.6 million people within 25 miles, this site represents a truly unique core investment opportunity.”

Azusa Center is located on a 3.67-acre lot at 301 and 411 N. Aerojet Ave. within the San Gabriel Valley. The property is near the I-210, I-10 and I-605 freeways, and 38 miles northeast of the Ports of Los Angeles and Long Beach. The two buildings feature 22’- 26’ ceiling heights, concrete tilt-up construction, an ESFR fire sprinkler system, three dock-high doors, and four ground-level doors. Azusa Center was fully leased at the time of the sale.

“Azusa Center reflects our long-term commitment to investing in well located, industrial product in Southern California. We’re pleased to have structured a sale leaseback at acquisition and then exited Azusa at an attractive valuation,” said Doug Arthur, President and CEO of SENTRE.

According to CBRE Research, Greater Los Angeles industrial asking rents rose to an all-time high of $1.54 per sq. ft. (per month) in Q3 2022 as demand continued to outweigh supply. Greater Los Angeles also posted 180,160 sq. ft. of net absorption and registered a vacancy rate below 1% for the fourth consecutive quarter.

SAN DIEGO – Oct. 20, 2022 – CBRE arranged the sale of Mosaic, a 64,019-sq.-ft. creative office/flex asset in Rancho Bernardo, a prime location for the technology, defense and expanding life sciences sectors.

CBRE’s Matt Carlson, Hunter Rowe, Matt Pourcho, Anthony DeLorenzo and Camille Doan represented the seller, SENTRE.

Built in 1985 and recently renovated, Mosaic is a best-in-class asset located at 15822 Bernardo Center Drive. The property sits on a 4.18-acre elevated corner lot that provides tenants with panoramic views and access to nearby retail, the region’s workforce, and executive housing.

“Despite the challenging market dynamics, the competitive bid process demonstrated that well-located, quality office assets still command significant interest from multiple capital sources,” said CBRE’s Carlson.

Mosaic is 100% leased to well-established, credit tenants and anchored by Microchip Technology Incorporated, a publicly traded entity that manufactures microcontroller, mixed-signal, analog, and Flash-IP integrated circuits.

Since the second quarter of 2019, the creative office market along the Interstate 15 Corridor has outperformed the greater San Diego market.
“After acquiring Mosaic in late 2019, SENTRE completed a strategic rebranding and lease-up of the asset. The successful execution is a testament to their thoughtful business plan and how the market values the Rancho Bernardo submarket,” said CBRE’s Rowe.

“Mosaic as repositioned represents the best of our “real estate reimagined” brand promise. A truly differentiated workplace built for the new world and delivered at sale as fully leased to world class tenants,” said SENTRE’s Doug Arthur.

Welcome to Lakeshore!

We are excited to announce the opening of Ten Asian Bistro and Bosscat Kitchen & Libations at Lakeshore – our iconic mixed use campus in Irvine.

TEN Sushi + Cocktail Bar’s new Lakeshore restaurant is 3,300 SF, with a 23-seat sushi counter and a 1,050 SF patio.

Next door at Bosscat Kitchen & Libations, the 5,000 SF space features a large 1,300 SF patio and an outdoor bar.

Both restaurants will host events and alfresco tastings at The Park at Lakeshore, located within the amenity rich campus, delivering the essential OC experience.

TEN Sushi + Cocktail Bar hosted a grand opening party in July and Bosscat Kitchen & Libations will welcome diners with an opening celebration on August 10.

SENTRE announces today that it has closed on the $40.75 million acquisition of Temecula Heights, a 229,000-square-foot industrial facility located at 42301 Zevo Drive in Temecula, California. The building is fully leased, with 84% of the asset leased to a global leading Fortune 100 medical products company.

SENTRE acquired Temecula Heights at a cost of $178 per square foot. This deal marks SENTRE’s third purchase of industrial property in the Southern California region in 2021, following SENTRE’s purchase of the 75,000+ square foot Azusa Center for $12.5 million in April, and the 140,000+ square foot Rancho Bernardo Vista for $50 million in February.

“Despite the highly competitive environment, we are thrilled to have completed three strategic Southern California industrial acquisitions in the past six months. The $100M we have invested in infill industrial year-to-date puts us ahead of pace with respect to our strategic vision of acquiring $500M+ of industrial properties over the next five years,” said Doug Arthur, President and CEO of SENTRE.

Located within a short drive of Los Angeles, Orange County and San Diego, Temecula represents a strategic logistics hub with direct access to a large labor pool and features a nominal 2.07% market vacancy rate.

Temecula Heights is an attractively designed institutional quality distribution building constructed in 1998 with a notable entry plaza and high image exterior finish. The property offers 26-foot clear heights, early suppression fast response (ESFR) sprinklers, 27 dock doors and spans across eleven acres.

The seller of Temecula Heights and its affiliates remain undisclosed.

SENTRE announces today that it has closed the $12.5 million acquisition of Azusa Center, a two-building 75,081 square foot industrial facility, fully leased to industry leader Mortech Manufacturing at its location at 301 & 411 N. Aerojet Drive in the San Gabriel Valley area of Los Angeles, California.

“Located in one of the strongest industrial submarkets in the country and fully leased through 2031 to an industry-leading tenant, Azusa Center is ideally suited to join our growing portfolio of industrial properties in infill locations throughout the Western Unites States,” said Doug Arthur, President and CEO of SENTRE.

The property was acquired from Mortech Manufacturing, an industry leader in the manufacturing and sales of mortuary equipment. The company, which has conducted its manufacturing and corporate operations at the property since 2006 (411 N. Aerojet Drive) and 2017 (301 N. Aerojet Drive), was recently acquired by a competitor in the same industry. Together, the combined entity is expected to command significant market share. Upon the closing of this real estate transaction, Mortech executed a new ten-year lease for the entire property where it will continue ongoing operations.

The 3.65-acre site is situated in one of Los Angeles’ strongest industrial submarkets, is within a 25-minute drive of Downtown Los Angeles, and is surrounded by successful companies including Northrup Grumman, HD Supply and TruGreen Lawn Care. The property supports easy ingress and egress, and features quick access to Interstate 210, a major Los Angeles transportation corridor traversed by more than 240,000 vehicles per day. As an infill location in the San Gabriel Valley submarket, the Azusa Center also enjoys among the strongest supply and demand market fundamentals in the nation, as demonstrated by the submarket’s record-low vacancy rate of 1.8% for the industrial sector.

The acquisition was sourced off-market without a broker representing either side of the transaction.

The CBRE Capital Markets Debt & Structured Finance Placement team, comprised of Executive Vice President Scott Peterson and Senior Analyst Morgon Fraser, represented SENTRE in the placement of $7.5 million fixed-rate, five-year term financing with a prominent publicly traded life insurance company.