EDEN PRAIRIE, MINN. — Cushman & Wakefield has brokered the $27.7 million sale of Prairieview Center, a 113,601-square-foot shopping center in Eden Prairie anchored by grocer Lunds & Byerlys. Evan Halkias, David Matheis and Zander Fried of Cushman & Wakefield represented the seller, United Properties. Phillips Edison & Co. Inc. was the buyer. Prairieview Center was built in 1986 and renovated in 2018. Additional tenants include Chase Bank, Culver’s and Starbucks.
SAN FRANCISCO — Jamestown LP, a mixed-use developer and operator based in Atlanta, has sold Ghirardelli Square, a historic waterfront shopping center located at 900 N. Point St. in San Francisco’s Fisherman’s Wharf District. The property comprises 12 interconnected brick buildings fronting San Francisco Bay and includes the namesake 19-foot illuminated Ghirardelli sign that has been part of the city’s skyline since 1915. Miami-based investment firm Embrace Real Estate and its affiliate asset management company 1823 Partners purchased Ghirardelli Square from Jamestown for an undisclosed price. The new ownership has selected Denver-based Continuum Partners to manage the day-to-day operations and future business plan for the historic property. Ghirardelli Square’s origins date back to 1862 when it served as the world headquarters and primary chocolate factory for Ghirardelli Chocolate Co., which still keeps a flagship store at the development. The property is listed on the National Register of Historic Places. Ghirardelli Square reopened in the early 1960s with various shops and restaurants, making the development one of the first major adaptive reuse projects in the United States. Today, Ghirardelli Square welcomes 9 million visitors annually. The project spans a little more than 100,000 square feet of shops and restaurants, as well as …
DALLAS — Locally based investment firm Knightvest Capital has acquired Ardan West Village, a 389-unit apartment building in Uptown Dallas. Ardan West Village is a 23-story building that was constructed in 2018 and houses 284 one-bedroom units with an average size of 801 square feet and 105 two-bedroom apartments with an average size of 1,312 square feet. Residences are furnished with stainless steel appliances, quartz countertops, wood-style flooring, floor-to-ceiling windows and individual washers and dryers. Amenities include a pool, fitness center, coworking lounge, private conference room and a pet spa. Joey Tumminello, Drew Kile, Michael Ware, Taylor Hill and Cameron Purse of IPA represented the seller, Mill Creek Residential, which operated the property on behalf of institutional investors, in the transaction. The team also procured Knightvest as the buyer. Mark Brandenburg of JLL arranged an undisclosed amount of floating-rate acquisition financing for the deal through Blackstone Real Estate Debt Strategies.
IRVING, TEXAS — Bradford Commercial Real Estate Services has arranged the sale of MacArthur Ridge II, a 260,796-square-foot office building in Irving. MacArthur Ridge II is a six-story building that was constructed on a 7.5-acre site in 1999 by CalSTRS and subsequently sold to Hines. Amenities include a conference center, fitness facility and deli/lounge space. Richmond Collinsworth and Jared Laake of Bradford represented the seller, Grupo Haddad, which has owned the building since 2013, in the off-market transaction. The buyer, the City of Irving, plans to house its fire and police departments within MacArthur Ridge II.
PETERSBURG, VA. — Berkadia has negotiated the $17.7 million sale of Ivy Gates, a 120-unit townhome community located in Petersburg, roughly 24 miles south of Richmond. Drew White, Carter Wood, Matt Straughan and Cole Carns of Berkadia represented the seller, Lakewood, N.J.-based Greencove Group, in the transaction. CCM, an investment company in Sterling, Va., acquired Ivy Gates. Herndon, Va.-based SYM Properties is managing the property. Built in 1973, Ivy Gates features two-and three-bedroom townhomes ranging in size from 1,369 to 1,677 square feet. Select townhomes feature finished basements with full bathrooms and wood-burning fireplaces. Community amenities include a swimming pool with a sundeck, community lawn, playground and pet-friendly outdoor areas. The property also benefits from proximity to major retail and entertainment destinations such as the 800,000-square-foot Southpark Mall in Colonial Heights and the 190-acre Old Towne Petersburg historic district.
HOUSTON — JLL has negotiated the sale of Fairmont Preston Plaza, a 105,869-square-foot shopping center in southeast Houston. Built in 1974 and renovated in 2016, Fairmont Preston Plaza was 89 percent leased at the time of sale. Planet Fitness and Cosmic Air anchor the center via a 26,000-square-foot gym and a 24,000-square-foot trampoline park, respectively. Other tenants include Dollar Tree and 7Brew Coffee. Ryan West, John Indelli, Zamar Salas and Max Myers of JLL represented the seller, Mission Shore Management, in the deal. Matt Moake with HighStreet Net Lease Group represented the buyer.
MIDDLEBURG, FLA. — Marcus & Millichap has brokered the $8.4 million sale of a 17,400-square-foot retail center located in Middleburg, roughly 26 miles southwest of downtown Jacksonville. Situated at 1690 Jeremiah St. within the Clay Town Center mixed-use development, the retail property is fully leased to a mix of eight tenants including Mattress Warehouse, Firehouse Subs, Domino’s Pizza and Wingstop. The center was built in 2025 on approximately 3.2 acres. Zack House, Mark Ruble and Chris Lind of Marcus & Millichap represented the seller, a Delaware-based limited liability company, and procured the buyer, a New York-based limited liability company. Both parties requested anonymity. Ryan Nee was Marcus & Millichap’s broker of record in Florida.
PASADENA, CALIF. — Swift Real Estate Partners has completed the disposition of 35 N Lake, a Class A office building in Pasadena, to State Compensation Insurance Fund for an undisclosed price. Located at 35 N. Lake Ave., 35 N Lake offers 158,785 square feet of office space approximately 10 miles northeast of downtown Los Angeles and blocks from the Metro Gold Line, providing connectivity to Santa Monica, the South Bay and Hollywood. Jeff Bramson, Andrew Harper, Will Poulsen, Jacob Molloy and Will O’Neil of JLL Capital Markets represented the seller, while CBRE represented the buyer in the transaction.
TUCSON, ARIZ. — Cushman & Wakefield | PICOR has negotiated the sale of Victoria Arms Apartments, a multifamily property in Tucson. Christopher R. Cotter acquired the asset from G and B Holdings LLC for $2.9 million. Located at 1518 E. Hedrick Drive, the 19,250-square-foot property features 25 units. Allan Mendelsberg and Joey Martinez of Cushman & Wakefield | PICOR represented the seller in the deal.
WALLINGFORD, CONN. — CBRE has negotiated the $21.4 million sale of a 115,000-square-foot shopping center in Wallingford, located roughly midway between Hartford and New Haven. Wallingford Fair Shopping Center is home to a ShopRite supermarket, Petco store and a self-storage facility. Nat Heald, Jordana Roet, Connor Scott and Kyle Juszczyszyn of CBRE represented the seller and procured the buyer in the transaction. Both parties requested anonymity.
