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Acquisitions

Legacy-at-Jackson-Landing-Monument-CO
AcquisitionsColoradoDevelopmentRestaurantRetailWestern

Legacy Development Partners Buys 30-Acre Site for Legacy at Jackson Landing Retail Project Near Colorado Springs

by Amy Works

MONUMENT, COLO. — Legacy Development Partners has acquired a 30-acre site at the northeast quadrant of Interstate 25 and Baptist Road in Monument, approximately 20 miles north of Colorado Springs, for the development of Legacy at Jackson Landing. Construction will commence immediately, with a grand opening scheduled for October 2027. Upon full build-out, Legacy at Jackson Landing will offer more than 225,000 square feet of retail and restaurant space. Target is slated to anchor the property. Other proposed tenants include Marshalls, HomeGoods, Chick-fil-A and Firehouse Subs. Legacy at Jackson Landing is being developed through a strategic partnership with The Garrett Cos. Equity for the development was sourced with the assistance of Texas-based Telis Group, and Bank of Texas provided construction financing.

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17753-78th-Ave-E-Puyallup-WA
AcquisitionsDevelopmentMultifamilyWashingtonWestern

Great Expectations SPC Acquires 102-Unit Multifamily Development Site in Puyallup, Washington

by Amy Works

PUYALLUP, WASH. — Great Expectations SPC has purchased Addison Grove, a multifamily development site at 17753 78th Ave. East in Puyallup. Terms of the transaction were not disclosed. Dylan Simon, JD Fuller and Elijah Piper of Kidder Mathews’ Simon | Anderson multifamily team represented the undisclosed seller and procured the buyer in the deal. Addison Grove is a shovel-ready opportunity planned for 102 apartments. The property’s location will serve the area’s employment base, which includes industrial and logistics tenants, healthcare facilities and proximity to Joint Base Lewis-McChord. Great Expectations is a social purpose corporation with a focus on delivering affordable housing targeted to families within the local community. Social purpose corporations are for-profit entities designed to pursue profit and specific social and environmental issues.

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AcquisitionsIllinoisMidwestMultifamily

Marquette Cos. Acquires 236-Unit Apartment Community in Lake Bluff, Illinois

by Kristin Harlow

LAKE BLUFF, ILL. — Marquette Cos. has acquired Forest Pointe, a 236-unit apartment community in Lake Bluff within Chicago’s North Shore. Marquette Management will serve as property manager for the community at 29533 N. Waukegan Road. Forest Pointe features seven three-story buildings with a clubhouse and leasing center at the hub of the property. Marquette will undertake renovations to unit interiors to update finishes and appliances throughout, and the amenity offerings will be enhanced with a new grilling area, seating area with a fire pit and pergola, dog park and updates to the fitness center.

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AcquisitionsIllinoisIndustrialMidwest

Core Industrial Realty Arranges Sale of 120,000 SF Industrial Building in Metro Chicago

by Kristin Harlow

LOCKPORT, ILL. — Core Industrial Realty has arranged the sale of a 120,000-square-foot industrial building in Lockport. The single-tenant building is fully leased to a company in the specialty plastics industry. Constructed in 2000, the property features 8,000 square feet of office space, 11 exterior loading docks, ceiling heights of 26 and 30 feet, over 5,000 amps of power and a heavy crane system throughout. Matthew Lee and Nick Krejci of Core represented the buyer, TradeLane Properties.

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AcquisitionsCivicNortheastPennsylvaniaRetail

Colliers Arranges Sale of 14,000 SF Historic Building in Bethlehem, Pennsylvania

by Taylor Williams

BETHLEHEM, PA. — Colliers has arranged the sale of a 14,000-square-foot historic building located at 46-52 West Broad St. in the Lehigh Valley community of Bethlehem. The new owner, private investor Rocco Ayavoz, plans to reposition the building, which was originally constructed in 1925 for Lehigh Valley National Bank, into a retail, restaurant and entertainment destination. Derek Zerfass and Seth Lacey of Colliers brokered the sale.

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Village-at-Allen
AcquisitionsRetailTexas

JLL Negotiates Sale of 851,457 SF Retail Power Center in Allen, Texas

by Taylor Williams

ALLEN, TEXAS — JLL has negotiated the sale of an 851,457-square-foot retail power center in Allen, a northeastern suburb of Dallas. The Village at Allen sits on an approximately 110-acre site and was 89 percent leased at the time of sale. Tenants include T.J. Maxx, HomeGoods, HomeSense and Sierra, all of which are part of the TJX family of companies, as well as Dick’s Sporting Goods, Ross Dress For Less, Best Buy, Nordstrom Rack, Ulta Beauty, Total Wine & More and Michaels. Chris Gerard, Barry Brown and Erin Lazarus of JLL represented the seller, a partnership between an affiliate of DLC Management Corp. and American Realty Advisors, in the transaction. The buyer was Sterling Organization, an investment firm based in South Florida.

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AcquisitionsHospitalityTexas

Hunter Advisors Arranges Sale of 248-Room Hotel Near Dallas Love Field Airport

by Taylor Williams

DALLAS — Atlanta-based hospitality brokerage firm Hunter Advisors has arranged the sale of the 248-room Embassy Suites by Hilton Dallas Love Field hotel. Suites at the eight-story hotel feature separate living and sleeping areas, flexible workspaces and in-room amenities such as mini-refrigerators and microwaves. Shared amenities include 4,400 square feet of meeting and event space across seven rooms, a full-service restaurant and bar, an indoor pool, fitness and business centers and complimentary breakfast service. An entity doing business as FelCor Dallas Love Field Owner LLC sold the hotel to Scenic Capital Advisors LLC for an undisclosed price. Kami Burnette of Hunter Advisors brokered the deal.

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AcquisitionsIndustrialSoutheastVirginia

Lingerfelt, Partners Group Sell Metro Richmond Industrial Portfolio for $175M

by John Nelson

RICHMOND, VA. — A joint venture between Lingerfelt and Partners Group has sold a nearly 1.2 million-square-foot industrial portfolio in metro Richmond for $175 million. JLL represented the joint venture in the transaction. The buyer was not disclosed. The portfolio includes three buildings within Walthall Distribution Center in South Chesterfield, Va., and one building within Northlake Distribution Center in Ashland, Va. Lingerfelt and Partners Group acquired the portfolio in March 2023 for $105.6 million, with Partners Group as the majority investor in the joint venture. The partnership invested $9 million in capital improvements into the portfolio and executed 875,000 square feet of new leases and lease renewals during its ownership period. Range Commercial Partners previously handled property management and leasing for the portfolio, which was fully leased at the time of sale.

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AcquisitionsDevelopmentRetailSoutheastVirginia

Investment Group Acquires Former Dine-In Movie Theater in Virginia Beach, Plans Indoor Padel Venue

by John Nelson

VIRGINIA BEACH, VA. — An entity doing business as BIVI/Padel has acquired the former Beach Cinema Alehouse, a dine-in movie theater located at 941 Laskin Road in Virginia Beach, for $6.3 million. The buyers — a partnership between Jason Vickers-Smith and Ahmad Butt — plan to transform the property into an indoor padel facility, dubbed the Padel Foundry. The venue is targeted to open in early 2027. Gerald Divaris and Sezin Cortinas of Divaris Real Estate represented the seller, while Levi Thomson, also with Divaris Real Estate, represented the buyer.

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The-Meridian-Bedford-New-Hampshire
AcquisitionsMultifamilyNew HampshireNortheast

Arrowpoint Properties Buys 85-Unit Apartment Complex in Bedford, New Hampshire

by Taylor Williams

BEDFORD, N.H. — Local owner-operator Arrowpoint Properties has acquired The Meridian, an 85-unit apartment complex in Bedford, located near the Massachusetts-New Hampshire border. Built on 6.4 acres in 2007 and renovated in late 2024, the three-story building offers one- and two-bedroom units and amenities such as a fitness center, community and recreation rooms, pet spa, library and onsite laundry facilities. The seller and sales price were not disclosed.

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