Acquisition and Investment

Company, its parent also announce $125 million investment fund closing

By Linn Parish
Spokane Journal of Business

Crown West Realty LLC, of Spokane Valley, has bought for $13 million an office building in Cary, N.C., near the Raleigh-Durham metropolitan area.

The transaction, the company's third in North Carolina, involves the purchase of the Regency Park building, a four-story, 112,000-square-foot structure that was built in 2000.

"This asset is perfectly suited as a corporate headquarters in a superior location," says Rob Gragg, a vice president at Crown West Realty.

Crown West plans to make some cosmetic improvements to the structure in the near future.

Earlier this year, Crown West bought for $17.3 million the Gateway Centre I and II complex

REBUSINESSONLINE.com

CARY, NC - Jim McMillan, Martie Serianni and John Linderman of Grubb & Ellis/Thomas have represented the seller, American Tower, in the sale of a Class A office building, located at 400 Regency Forest Dr in Cary. Crown West Realty purchased the 112,000-square-foot property for an undisclosed price. Grubb & Ellis/Thomas Linderman Graham will serve as the exclusive leasing and management firm for the property.

THE NEWS & OBSERVER

CARY, NC - Crown West Realty paid $13 million for the 112,000-square-foot office building that was once the headquarters for Specrasite Communications before that company was acquired last year.

The building, at 400 Regency Forest Drive, is Crown West's second Triangle acquisition.

The Spokane, Wash., group this year also bought Gateway Center I and II -- an office and flex building totaling 145,000 square feet in Morrisville -- from Duke Realty for $17.3 million.

By Brian K. Miller
GlobeSt.com

SPOKANE, WA - Petrus Partners Ltd. of New York City and its locally based asset management subsidiary Crown West Realty LLC have completed fund raising for their second value-add discretionary fund since 2003. The fund closed with $125 million of equity that the Petrus-Crown West Group plans to parlay into at least $500 million of office and industrial properties over the next three years.

The fund will focus on acquiring mid-sized properties, one typically in need of redevelopment, repositioning or restructuring. It is looking for deals in the $10-million to $100-million range that require individual equity investments of $5 to $25 million.

As for geographic dispersion, the group seeks to assemble portfolios of properties within six to

By Linn Parish
JOURNAL OF BUSINESS

Crown West Realty LLC, of Spokane Valley, has bought for $17.3 million a two-building office complex in Morrisville, N.C., near the Raleigh-Durham, N.C., metropolitan area.

The complex, called Gateway Centre I and II, was built in 2001 and includes a total of 145,000 square feet of office space. Crown West says the complex is located near an international airport and near the Research Triangle Park.

The occupancy rate at the complex was 86 percent in late April. Tenants there currently include Strayer University, Sears Roebuck & Co, and Genesys Telecommunications, among others.

Ed Gargiulo, Crown West's asset manager, says the purchase of Gateway Centre I and II is the company's first acquisition in the Raleigh-Durham

By Amy Wolff Sorter
Globe St.com

SCOTTSDALE, AZ – Six months after acquiring the 59,570-sf Giant Industries' corporate headquarters and the 8.4 acres on which it sits, Crown West Realty of Phoenix has sold the Class A building for $12.65 million to Chicago-based United Insurance Co. The company also plans to retain 4.4 acres of the adjacent undeveloped land for a 60,000-sf office condominium development.

According to Steven Brabant of CB Richard Ellis Co.'s Phoenix office, it had been Crown's intent, from the start, to sell the building after its acquisition in May 2005. "It has been offered as a single parcel, so the property had to be divided after Crown purchased it. As soon as Crown closed on the land, they

Spokane Valley company buys two-building, Class-A complex for $16.1 million

By Linn Parish
Spokane Journal of Business

Crown West Realty LLC, of Spokane Valley, has bought for $16.1 million a two-building office complex in Phoenix.

The complex, called Foothills Corporate Centre II, is the eighth property the Spokane company has acquired in the Phoenix area and gives it a total of 1.35 million square feet of commercial floor space in that market.

"The Phoenix market has been incredibly successful for our company," says Crown West President Richard Rollnick . "We look forward to expanding our portfolio over the coming months."

Foothills Corporate Centre II is located in the southeast valley area of Phoenix, along the Interstate 10 corridor, and

PHOENIX – Crown West Realty, L.L.C. announced today the acquisition of Foothills Corporate Centre II in the Southeast Valley sub-market of Phoenix. The $16.1Million transaction, the eighth Phoenix area acquisition for Crown West Realty, brings their total market presence to 1.35 million square feet of office and commercial flex space.

Constructed in 2000, Foothills Corporate Centre II consists of two single-story Class “A” back office buildings totaling 144,910 square feet located at 14601 & 14605 South 5 0th Street in Phoenix . Foothills Corporate Centre is strategically located in the heart of the Interstate 10 (I-10) corridor, the most prestigious back-office core serving the Southeast Valley with excellent visibility and access. This strategic location offers its tenants immediate access to a vast array of amenities consisting

$12 Million transaction is Spokane company's first there; more buildings eyed

By Linn Parish
Spokane Journal of Business

Crown West Realty LLC, of Spokane Valley, has bought a $12 million office complex in the Denver area, its first acquisition in that market.

Richard Rollnick, president of Crown West, says the company currently is looking at additional properties in the Denver area and hopes to buy more real estate there.

"The diverse real estate opportunities and high-quality regional and national tenants in the Denver market are a nice fit for our investment goals, " Rollnick says.

The recently purchased property, called Corporate 25, consists of three inter-connected buildings with a total of 132,800 square feet of office space and is

By John Rebchook
Globe St.com

CENTENNIAL, CO – Crown West Realty, L.L.C., with executive offices in Phoenix and New York City, made its first commercial acquisition in the Denver area by paying $12 million for the Corporate 25 building. The property is in the Southgate Business Center at 7200 S. Alton Way, in this city along the southeast corridor.

The seller is DPC Development Co. Corporate 25, constructed in 1981 and completely renovated in 2004, consists of three inter-connected, multistory building with a total of 132,800 sf. It sits on a six-acre site with 410 feet of interstate frontage. It is minutes from the intersection of Interstate 25, C-470 and E-470 and is within walking distance of a future light-rail station to