WAYNE, N.J. — Locally based brokerage firm The Goldstein Group has arranged the sale of a 68,000-square-foot retail property the Northern New Jersey community of Wayne. The property is located at 465-479 U.S. Route 46 and comprises a 50,000-square-foot space that was formerly occupied by Bloomingdale’s Furniture and an 18,000-square-foot space leased to The Suit Store. C.J. Huter, Marc Palestina and Roy Paret of The Goldstein Group represented the seller, a group of limited liability companies, in the transaction. The buyer was an entity doing business as GCL Investment LLC.
DURHAM, N.C. — Foundry Commercial has facilitated the acquisition and rezoning of a 95-acre tract in Durham for the development of Brickworks, a planned mixed-use development. The Durham City Council approved the rezoning ordinance in January, which will transform a former brick factory into a residential and commercial area. Charlotte-based SpaceCraft will serve as the master developer for the project. David Batten and Geoff Loftin of APG Advisors represented the seller in the transaction. Upon completion of the project, Brickworks will include 1,880 residential units and 49,500 square feet of commercial space. Construction of the multiphase project is expected to take place over a five-year period. One-third of the site is slated for Phase I of Brickworks, which will include a combination of apartments, townhomes and retail space. Homes will range from studio units to three-bedroom layouts, with 5 percent of the residences set aside for families earning 60 percent or less of the area median income (AMI). Public spaces like sports fields, biking and walking trails and preserved woodlands and wetlands will also be accessible at the development.
NAPLES, FLA. — Excelsa Properties has acquired Oasis Naples, a 216-unit garden-style multifamily property located at 2277 Arbour Walk Circle in Naples. The buyer purchased the property on behalf of Excelsa’s US Real Estate II LP fund and a co-investment vehicle related to Fund II LP, which are both managed by Excelsa. Built in 1992, Oasis Naples offers one- and two-bedroom floorplans ranging in size from 762 square feet to 1,012 square feet across18 residential buildings. Amenities at the property include a swimming pool, lounge areas, coffee station and a 24-hour fitness center. Excelsa plans to invest roughly $7 million to enhance the property’s appeal and performance. This marks the seventh multifamily property to be acquired through Excelsa’s US Real Estate II LP fund and the 20th multifamily acquisition across its portfolios.
LAND O’ LAKES, FLA. — Berkadia has arranged the sale of a 28.5-acre development site located within the master-planned community of Bexley in Land O’ Lakes, roughly 30 miles north of downtown Tampa. The Dinerstein Cos., in partnership with Maymont Homes, will design the site to offer a mix of two- and three-bedroom residences featuring private yards and attached garages. Amenities at the property, dubbed Sunlake North, will include a clubhouse, fitness center, resort-style swimming pool and various neighborhood parks. Sunlake Boulevard, which forms the site’s eastern boundary, is scheduled for a future extension that will connect the development to the new Moffitt Cancer Center Pasco Life Sciences Campus and the Angeline master-planned community. Preleasing at the development is expected to begin in late spring 2026, with the first homes available for move-in by the fourth quarter of that year.
WALLACE, N.C. — Marcus & Millichap Capital Corp. (MMCC) has arranged $3 million in acquisition financing for Wallace Crossings, a 66,000-square-foot shopping center located in Wallace. The 10-year loan includes a 6.3 percent interest rate with a 30-year amortization period and a 73 percent loan-to-value. Built in 1991, the center is anchored by U-Haul and Ollie’s Bargain Outlet. Additional tenants include Hardee’s, KFC, GoGas and a CashPoints ATM, according to LoopNet Inc. Garrett Fierstein of MMCC secured financing with a local credit union on behalf of a private client.
LAKE STEVENS, WASH. — Colorado-based Spartan Investment Group has acquired a self-storage facility in Lake Stevens for an undisclosed price. Located at 8911 Vernon Road, the property features 161 units of climate-controlled storage and 242 units of non-climate-controlled storage. Spartan will invest $225,000 in upgrades and expanded amenities to improve curb appeal and modernize security. The self-storage facility was originally constructed in 1999.
VAN NUYS, CALIF. — Duckhorn Partners has completed the disposition of a two-tenant retail property located at 14434-14480 Sherman Way in Van Nuys. Sherman Way 26 Properties LLC, a local private investor, acquired the asset for $11.4 million. Alex Kozakov and Pat Wade of CBRE represented the seller in the deal. Situated on 1.2 acres in the San Fernando Valley, the 18,296-square-foot property was built in 1995 and offers 70 parking spaces. A national healthcare provider and El Gallo Giro, a regional restaurant chain, both occupy the property under long-term triple-net leases.
SALT LAKE CITY — CBRE has arranged the leased fee interest sale of a 1.7-acre parcel in downtown Salt Lake City. Safehold Inc. acquired the asset, which includes a ground lease for over 98 years, for an undisclosed price. Asher Adams, a 225-key Autograph Collection hotel, occupies the site. The hotel was completed in 2024 and includes an adaptive reuse of the historic Union Pacific Depot Train Station. The parcel is located at 2 S. 400 West. Anthony DeLorenzo, Sammy Cemo, Bryan Johnson, Will Pike and Patrick Bodnar of CBRE represented the institutional seller in the transaction.
STERLING, COLO — Pinnacle Real Estate Advisors has arranged the acquisition of a restaurant property located at 224 W. Main St. in Sterling. Terms of the transaction were not released. Pizza Hut currently occupies the 5,192-square-foot property on a triple-net lease. Dallas Sandberg represented the undisclosed buyer in the deal.
SHELBYVILLE, IND. — Prudent Growth Partners LLC has purchased Rivergate Shopping Center in the Indianapolis suburb of Shelbyville for $4.4 million. Built in 1985 and renovated in 1995, the 45,314-square-foot property is currently home to 10 tenants with staggered lease expirations. The center has been well maintained, and no significant deferred maintenance needs exist, according to Prudent Growth.