OLTMANShas begun construction on the 1.6 million sq. ft. Gateway Pointe Industrial Park in Los Angeles County. The project, owned by the Southwest Carpenters Pension Trust, is valued at $110 million. The first phase of the project will include nearly 1 million sq. ft. and is scheduled for completion in November.
KUSHNER COS. has purchased two luxury high-rises in Cherry Hill, N.J., in a transaction valued at $45 million. The 525-unit Towers of Windsor Park consists of two 13-story buildings.
UNITED PROPERTIES recently represented Thrivent Financial for Lutherans in the sale of a 2.6 million sq. ft. industrial portfolio, which included 22 bulk warehouse buildings in four states. The combined transactions are valued at nearly $114 million.
WATT COMMERCIAL PROPERTIES has sold Acqua Vista, its recently completed luxury high-rise condominium project in San Diego, to K. Hovnanian Cos. ofInc., for $106 million. Watt originally conceived the building as an apartment project, but later developed it as condominiums due to demand for urban for-sale housing in the area, reports Jonathan Genton, vice president of development for Watt.