WEST COVINA, CALIF. — Advanced Real Estate has acquired The Cove at West Covina, an apartment property located at 1829 E. Workman Ave. in West Covina, for $41 million. The buyer assumed a $21 million Freddie Mac loan with a fixed interest rate of 4.75 percent and full-term interest-only payments. Additional terms of the transaction were not released. The gated community features 138 apartments, two polos with cabanas, a fitness center, fire pits, garages and a large open landscaped area. Advanced plans to upgrade the property with the addition of in-unit washers and dryers, new cabinetry, flooring, fixtures, appliances, windows and a modern paint scheme. Advance’s in-house construction company, R3 Construction, and in-house management company, Advanced Management Co., will complete the upgrades. Shane Shafer, previously of Northmarq and now with Colliers, brokered the deal.
CHANDLER, ARIZ. — Lincoln Property Co. has purchased a partially occupied data center located at 2500 W. Frye Road in Chandler. The 191,000-square-foot property offers 28MW of confirmed utility power, served by an existing and dedicated onsite Salt River Project substation. The asset features four data center halls, one of which is fully leased to a Fortune 500 enterprise user. Lincoln plans to fit out the remaining three halls, adding 16MW of critical capacity and positioning the building for immediate lease-up, with an initial 4.2MW targeted for delivery in early first-quarter 2026. The company will also transition the project from an evaporative cooled to air cooled mechanical system, creating the potential for up to 3 million gallons of water savings per month for the City of Chandler. Additionally, the site is approved for additional development as part of an agreement initiated by the property’s previous owner. Kristina Metzger, Ben Wobschall and Mark Krison of CBRE represented the seller in the Frye Road facility sale. Lincoln will serve as the building’s property manager, while leasing will be handled by Lincoln’s data center leasing team.
MOUNTAIN VIEW, CALIF. — The Swig Co. has completed the disposition of 399 El Camino Real, a vacant office building in Mountain View, to an undisclosed owner/user in an off-market transaction. Christine Slonek of Newmark advised the seller and the buyer. Located at 399 W. El Camino, the three-story office building features 29,500 square feet of office space. The Swig Co. acquired the property in 2007, and it was 100 percent occupied until 2023. Under its ownership, The Swig Co. designed and installed drought-tolerant landscaping, upgraded existing amenities and added electric vehicle charging stations.
TUCSON, ARIZ. — Cushman & Wakefield | PICOR has arranged the sale of a 22,960-square-foot flex building located at 5251 E. Speedway Blvd. in Tucson. WAA 5251 E Speedway Blvd LLC purchased the asset from Inspired Adventures Investments for $3.5 million. Natalie Furrier and Greg Furrier of Cushman & Wakefield | PICOR Retail Specialists team represented the seller, while Robert Glaser and Paul Hooker of Cushman & Wakefield | PICOR Industrial Specialists team represented the buyer in the deal.
BATAVIA, ILL. — Cushman & Wakefield has negotiated the sale of Fabyan Randall Plaza, a 91,415-square-foot regional retail center anchored by Trader Joe’s in Batavia, a western suburb of Chicago. Other retailers include Sierra, Dollar Tree and a freestanding Walgreens. Evan Halkias and David Matheis of Cushman & Wakefield, along with Glenn Rudy of Newmark Pacific, represented the seller, NetCo Investments Inc. The buyer was a private investor.
NEW YORK CITY — Locally based financial intermediary ERG Commercial Real Estate has arranged an $8.5 million bridge loan for the refinancing of a 40,000-square-foot industrial building on Staten Island. According to LoopNet Inc., the building at 501 Industry Road was completed in 1976 and features a clear height of 30 feet. The direct lender was a national bank, and the borrower was a local private investment group. Both parties requested anonymity. The building was fully leased at the time of the loan closing
ALBERTVILLE, MINN. — Marcus & Millichap has brokered the $6.1 million sale of a net-leased childcare facility occupied by Everbrook Academy in Albertville, a northwest suburb of Minneapolis. Everbrook Academy has a new 15-year triple-net lease guaranteed by Learning Care Group. The tenant operates more than 1,150 schools nationwide. Built in 2025, the property totals 11,758 square feet. Spencer Berkley, Mark Ruble, Chris Lind and Zack House of Marcus & Millichap, in association with the firm’s Minnesota broker of record Jon Ruzicka, represented the seller, a Minnesota-based limited liability company. Buyer information was not released.
WHEATON, ILL. — eXp Commercial, a division of eXp World Holdings Inc., has arranged the $1.5 million sale of a multifamily redevelopment property at 100 W. Roosevelt Road in Wheaton. The property includes two 12,000-square-foot office buildings on 1.2 acres. The buyer, a local developer, plans to redevelop the site into 22 multifamily units following successful rezoning from office to residential use. Randolph Taylor of eXp represented the undisclosed seller.
HOUSTON — Metro Philadelphia-based CenterSquare Investment Management has acquired a portfolio of four industrial service buildings totaling 244,946 square feet in Houston. The portfolio, which was 88 percent leased at the time of sale, consists of 55 suites with an average size of 4,454 square feet with oversized grade-level doors and 17- to 18-foot clear heights. CenterSquare plans to implement a value-add program that will involve minor roof repairs, concrete repairs and adding HVAC where needed. The seller and sales price were not disclosed.
HURST, TEXAS — Prudent Growth Partners, a North Carolina-based private equity real estate firm, has purchased a 47,364-square-foot retail center in Hurst, located in the northern-central part of the metroplex. Melbourne Plaza, which sold for $7.8 million, was 97 percent leased to 17 tenants at the time of sale. The seller was not disclosed.