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Acquisitions

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AcquisitionsArizonaOfficeWestern

North Beacon Capital Sells 120,516 SF Chandler Center Commons in Arizona

by Amy Works

CHANDLER, ARIZ. — Boston-based North Beacon Capital has completed the sale of Chandler Center Commons, a 10-building office campus in Chandler, to Chandler Commons Partners LLC for $30.5 million. Geoffrey Turbow of CBRE represented the seller in the deal. Jamie Swirtz, also of CBRE, assisted with the sale and serves as the property leasing agent for the property. Situated on 11.9 acres at 5500-5590 W. Chandler Blvd., Chandler Center Commons features 120,516 square feet of office space that is 94.4 percent leased to 19 office and medical office tenants. Current tenants include Action Behavior Centers, Brightmont Academy, Movement Mortgage and Retail Technology. Chandler Center Commons is located within 2.5 miles of Interstate 10, Loop 101 and Loop 202, as well as less than two miles from Chandler Fashion Center.

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AcquisitionsIllinoisIndustrialMidwest

Silver Creek Development Sells 2 MSF Industrial Facility in Illinois to Michelin North America for $151M

by Kristin Harlow

WILMINGTON, ILL. — Silver Creek Development has sold a 2 million-square-foot industrial facility and adjacent land parcel to Michelin North America for $151 million. Located at 29900 S. Graaskamp Blvd. in Wilmington, about 60 miles southwest of downtown Chicago, the regional distribution property sits on a 91-acre site and is fully occupied by Michelin North America. The company uses the property to house inventory serving dealers and automakers throughout the Midwest and western U.S. Silver Creek acquired the property from Transwestern Development Co. in 2021 for $126 million. Pacific Life Insurance Co. provided $81.9 million in financing for Silver Creek’s original acquisition.

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AcquisitionsMidwestMissouriRetail

Rainier Cos. Disposes of 545,204 SF Summit Woods Crossing Shopping Center in Metro Kansas City

by Kristin Harlow

LEE’S SUMMIT, MO. — The Rainier Cos. has sold Summit Woods Crossing, a 545,204-square-foot shopping center in Lee’s Summit, about 20 miles southeast of Kansas City. Acquired by Rainier in May 2022, Summit Woods Crossing is located at the southwest corner of I-470 and U.S. Route 50. The property is shadow anchored by SuperTarget and co-anchored by Lowe’s and Kohl’s. Tenants include Best Buy, Michaels, Petco, TJ Maxx, Total Wine, Ulta Beauty and Old Navy. The buyer and sales price were not disclosed.

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AcquisitionsIllinoisMidwestMultifamily

Draper and Kramer Acquires 268-Unit Apartment Community in Evanston, Illinois

by Kristin Harlow

EVANSTON, ILL. — Draper and Kramer Inc. has acquired a 268-unit luxury apartment community in Evanston. The 15-story property, Albion Evanston, will be rebranded as Eva. Draper and Kramer will also assume property management of the community, which was 98.5 percent leased and 98 percent occupied at the time of acquisition. The property offers studio, one- and two-bedroom floor plans ranging from 441 to 1,988 square feet. Amenities include a fitness center with indoor-outdoor yoga studio, outdoor heated rooftop pool, rooftop sky club, pet spa, coworking space and a Luxer One package room. The property includes 198 parking spaces. The first floor features 7,090 square feet of fully leased retail space, with current tenants the reform method and IMAGE Studios Salon Suites. JLL represented the undisclosed seller.

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AcquisitionsIndustrialNorth CarolinaSoutheast

Link Logistics Acquires 550,992 SF Industrial Property in Youngsville, North Carolina

by Abby Cox

YOUNGSVILLE, N.C. — New York City-based Link Logistics has acquired Eaton Logistics Facility, a 550,992-square-foot industrial property located at 2545 Innovation Loop in Youngsville, roughly 23 miles outside Raleigh. The facility, which was fully leased at the time of sale, features 40-foot clear heights, cross-dock configuration and direct access to U.S. Route 1. The property serves as a warehousing and distribution hub that supports manufacturing operations in the Raleigh area. JLL represented the sellers, Summit Real Estate Group and an institutional partner, in the transaction. The sales price was not disclosed.

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AcquisitionsMultifamilyNew JerseyNortheast

ICON Real Estate Negotiates $4.1M Sale of Apartment Building in Bayonne, New Jersey

by Taylor Williams

BAYONNE, N.J. — Local brokerage firm ICON Real Estate Advisors has negotiated the $4.1 million sale of a 25-unit apartment building in the Northern New Jersey community of Bayonne. According to Apartments.com, the building at 5-7 Kelly Parkway exclusively offers one-bedroom units. David Betesh of ICON Real Estate Advisors represented the seller, a local family, in the transaction and procured the undisclosed buyer.

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AcquisitionsCaliforniaMultifamilyWestern

Colliers Brokers Sale of Two-Property Multifamily Portfolio in Fallbrook, California for $37M

by Amy Works

FALLBROOK, CALIF. — Colliers has arranged the sale of a two-property multifamily portfolio, totaling approximately $37 million, in Fallbrook. The portfolio includes Amberwood Apartments, a 133-unit property at 923 Alturas Road, that sold for $24.2 million, and Rosewood Apartments, a 73-unit community at 338 Ammunition Road, that sold for $12.4 million. Shane Shafer and Brian Anderson of Colliers represented the sellers, Amber Creek Associates LTD and Rosewood Associates LTD, respectively, in the transactions. The names of the buyers were not disclosed.

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AcquisitionsIndustrialMontanaSelf-StorageWestern

Local Developer Sells 95,660 SF Self-Storage Facility Near Bozeman, Montana

by Amy Works

BELGRADE, MONT. — A local developer has completed the sale of At Home Storage, a self-storage facility in Belgrade, approximately 10 miles northwest of Bozeman, to Storage Rentals of America for an undisclosed price. Mason Gates and Bend Tracy of Matthews represented the seller and sourced the buyer in the transaction, with Brian Brockman serving as broker of record. Developed in four phases beginning in 2021, the property features 95,660 net rentable square feet across 601 self-storage units on 7 acres. The asset is located at 1205 Rizzo Lane.

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AcquisitionsHealthcareIllinoisMidwest

Rush, Endeavor Health Unveil Plans to Merge in Metro Chicago

by Kristin Harlow

CHICAGO — Rush University System for Health and Endeavor Health have unveiled plans to merge, creating a system of 12 hospitals and more than 400 care sites. An incremental $1 billion investment, funded by Endeavor, will advance community impact, academics and research, and quality and care innovation in communities across the Chicagoland region. The combined system will operate under the Rush name. Upon close, Endeavor President and CEO J.P. Gallagher will be named president and CEO of the unified system. Dr. Omar Lateef, president and CEO of Rush, will continue in this role through the close of the transaction. He will then serve as CEO emeritus and strategic advisor to the CEO. A 20-person system board will be appointed, with equal representation from Rush and Endeavor board members and led by a chair from the Rush system. Together, the organization will have more than 46,000 employees and clinicians serving more than 2 million patients annually across northern Illinois and northwest Indiana. The transaction is expected to close in early 2027, following regulatory review and approval. Rush is a nonprofit health system that includes Rush University Medical Center, Rush University, Rush Copley Medical Center and Rush Oak Park Hospital, as well …

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AcquisitionsMidwestMultifamilyWisconsin

Berkadia Arranges Sale of 458-Unit Multifamily Property in Mount Pleasant, Wisconsin

by Kristin Harlow

MOUNT PLEASANT, WIS. — Berkadia has arranged the sale of Tivoli Green, a 458-unit multifamily property in Mount Pleasant. Pete Evans and Richard Evans of Berkadia represented the seller, Wangard Partners Inc. The buyer was Illinois-based Santefort Real Estate Group LLC. Wangard has been retained to provide third-party management services for the community. Chris Blechschmidt and Emily Stang of Berkadia arranged acquisition financing through Freddie Mac. Tivoli Green was delivered in three phases from 2021 to 2024. The 22-building property is situated on 38 acres and features two-story townhomes.

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