Acquisitions

MMCC Arranges $5.1M Acquisition Loan for Medical Office Property in Canal Winchester, Ohio

by Kristin Harlow July 15, 2025

CANAL WINCHESTER, OHIO — Marcus & Millichap Capital Corp. (MMCC) has arranged a $5.1 million acquisition loan for a medical office property located at 9695 Basil Western Road in Canal Winchester, a southeast suburb of Columbus. The building is home to MedVet, which operates a 24-hour emergency vet. Chad O’Connor of MMCC arranged the financing with a credit union on behalf of the private borrower. The 10-year loan features a 6.5 percent interest rate, 30-year amortization period and 60 percent loan-to-value ratio.

July 15, 2025

Acquisitions Illinois Midwest Restaurant Retail

Boulder Group Brokers $2.7M Sale of Chipotle-Occupied Retail Building in Chicago Heights

by Kristin Harlow July 15, 2025

CHICAGO HEIGHTS, ILL. — The Boulder Group has brokered the $2.7 million sale of a retail building net leased to Chipotle in Chicago Heights. The newly constructed property at 1399 W. Lincoln Highway features a drive-thru. Chipotle has a new 15-year lease with 10 percent rental escalations every five years and four five-year renewal options. Randy Blankstein and Jimmy Goodman of Boulder Group represented the seller, a Midwest-based commercial real estate company. The buyer was a 1031 exchange investor based in California. As of 2025, there are 3,752 Chipotle locations worldwide.

July 15, 2025

Acquisitions Development Michigan Midwest Retail

Old National Bank Buys 1.2-Acre Development Site for New Branch Location Near Grand Rapids

by Kristin Harlow July 15, 2025

CASCADE TOWNSHIP, MICH. — Old National Bank has purchased a development site at 2851 Charlevoix Drive SE in Cascade Township near Grand Rapids. The 1.2-acre parcel is situated directly across from a Walmart Supercenter and offers convenient access to I-96. Old National Bank plans to build a 3,470-square-foot retail branch, which is slated to open later this year. Bob Lotzar of NAI Wisinski of West Michigan represented the buyer in the transaction.

July 15, 2025

Acquisitions Office Texas

Shorenstein Acquires 19-Story Sterling Plaza Office Building in North Dallas

by Taylor Williams July 14, 2025

DALLAS — San Francisco-based investment firm Shorenstein Investment Advisers has acquired Sterling Plaza, a 19-story, 320,000-square-foot office building located in the Preston Center submarket of North Dallas. The freshly renovated property was 89 percent leased at the time of sale and offers amenities such as a conference center, fitness facility and a tenant lounge. Shorenstein plans to implement additional capital improvements to the lobby, entryway, café and outdoor communal areas. The seller was California-based investment firm KBS. Robert Hill, Chris Murphy, Gary Carr and Austin Sheahan of Newmark brokered the deal. Chris Moritz, Andrew Porteous, Chris McColpin and Josh Francis, also with Newmark, are arranging the acquisition financing on behalf of Shorenstein.

July 14, 2025

Acquisitions Georgia Industrial Southeast

Triten Real Estate Acquires 151,200 SF Industrial Facility in Calhoun, Georgia

by Abby Cox July 14, 2025

CALHOUN, GA. — Triten Real Estate Partners has acquired a 151,200-square-foot industrial facility located at 103 Enterprise Drive SW in Calhoun. Positioned near I-75, the property offers transportation infrastructure, with proximity to the Georgia Ports Authority’s Appalachian Regional Port. This deal marks Triten’s first traditional industrial acquisition outside of Texas and in Atlanta, according to company representatives. The facility is fully leased through the end of the year. Austin Kriz of JLL represented Triten Real Estate in the transaction. The seller and sales price were not disclosed.

July 14, 2025

Acquisitions Office Texas

Avison Young Arranges Sale of 151,340 SF Office Building in North Dallas

by Taylor Williams July 14, 2025

DALLAS — Avison Young has arranged the sale of a 151,340-square-foot office building in North Dallas. The five-story building at 17787 Waterview Parkway was constructed on 5.2 acres in 1994. According to the Dallas Business Journal, the property was formerly the home of global technology firm Concentrix. Bruce Butler, Susan Gwin Burks and John Bowles of Avison Young represented the seller, an entity doing business as CFT NV Developments LLC, in the transaction. The buyer was the Board of Regents of the University of Texas System/University of Texas at Dallas.

July 14, 2025

Acquisitions Mississippi Retail Southeast

Cushman & Wakefield Commercial Advisors Negotiates Sale of 26,612 SF Retail Center Near Memphis

by Abby Cox July 14, 2025

SOUTHAVEN, MISS. — Cushman & Wakefield has negotiated the sale of South Creek Collection, a 26,612-square-foot retail center located in the Memphis suburb of Southaven, roughly 14 miles south of the Tennessee border. Situated at 7090 Malco Blvd., the center was built in 1999 and sits on nearly 20 acres. Tenants at the property include Once Upon A Child, Edible Arrangements, Envy Nails and Baskin-Robbins. Landon Williams and Katie Hargett of Cushman & Wakefield Commercial Advisors represented the buyer, an entity doing business as KAG3 Southaven Real Estate LLC, in the transaction. Eric Williams of Newmark represented the seller, a company doing business as South Creek Collection LLC.

July 14, 2025

Acquisitions Connecticut Multifamily Northeast

CBRE Brokers $20.7M Sale of Putnam Green Apartments in Greenwich, Connecticut

by Taylor Williams July 14, 2025

GREENWICH, CONN. — CBRE has brokered the $20.7 million sale of Putnam Green, a 66-unit apartment complex located in the southern coastal Connecticut community of Greenwich that was built in 1976. According to Apartments.com, the property offers one- and two-bedroom units. The sale represents a fee interest in the land, which was ground-leased to the neighboring property. CBRE negotiated a termination with the ground leaseholder contemporaneously with the closing of the sale of the fee interest in the land. Jeffrey Dunne, Eric Apfel and Travis Langer of CBRE brokered the deal(s). The seller was PIC Associates, and the buyer was Bedford Realty Associates.

July 14, 2025

Acquisitions Multifamily Nevada Western

Joint Venture Acquires Two Multifamily Communities in Metro Reno Area

by Amy Works July 14, 2025

RENO AND SPARKS, NEV. — A joint venture between HZ Capital Partners Fund I and New York Life Real Estate Partners has sponsored the purchase of two multifamily properties in Nevada — Lakeview and Sand Pebble/Spanish Oaks. Mission Rock Residential, an affiliate of Hamilton Zanze, has assumed management of the properties, which are located within seven miles from one another. Terms of the transactions were not released. HZ Capital Partners Fund I is San Francisco-based Hamilton Zanze’s discretionary fund that targets the purchase of multifamily properties. Theses transactions represent Hamilton Zane’s third and fourth sponsored acquisitions of 2025. Located at 2600 E. Shore Drive in Reno, Lakeview features 328 studio, one-, two- and three-bedroom apartments overlooking Virginia Lake. Units include air conditioning, high-speed internet and private patios or balconies. Community amenities include a swimming pool, barbecue and picnic areas, a basketball court, onsite gym, laundry facilities and a playground. Located at 1877 El Rancho Drive in Sparks, Sand Pebble/Spanish Oaks features 448 one-, two- and three-bedroom apartments with air conditioning, high-speed internet, washer/dryer hookups, fireplaces, walk-in closets and private patios or balconies. Built in 1983, the community offers a resident clubhouse, swimming pool, sauna spa, laundry facilities, basketball and tennis courts, onsite …

July 14, 2025

Acquisitions California Industrial Western

Steel Peak Sells Industrial Outdoor Storage Property in El Cajon, California for $9.5M

by Amy Works July 14, 2025

EL CAJON, CALIF. — Steel Peak has completed the sale of an industrial outdoor storage (IOS) property on 2.5 acres at 1324-1336 Magnolia Ave. in El Cajon. C&M Manufacturing acquired the asset for $9.5 million. The buyer will occupy the 12,000-square-foot property for its operations, including the production and distribution of its products for the oil-and-gas industry. The property includes warehouse and office space and yard space for outdoor storage. The asset offers M-54 zoning, entitlement for outside storage, multiple access points and a level fenced yard. Cameron Czubernat and Kerry Schimpf of Commercial Property Group represented the seller, while Aidan Jones of Inland Pacific represented the buyer in the transaction.

July 14, 2025

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