EAST BRUNSWICK, N.J. — A joint venture between National Development and an affiliate of Benchmark Senior Living is underway on construction of a new seniors housing project in East Brunswick, located in Central New Jersey. Benchmark at East Brunswick will total 87 units and 100 beds for assisted living and memory care residents. Amenities will include multiple dining venues, a theater, fitness center, salon and outdoor spaces. JLL arranged $35.1 million in construction financing for the project, which is expected to be complete in 2028.
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NEW YORK CITY — Marcus & Millichap has brokered the $11.4 million sale of 196 Bowery, a seven-unit apartment building located in the NoLita neighborhood of Lower Manhattan. The building includes a ground-floor retail space that is leased to Genyth Tattoo. Matt Fotis, Colton Traynham and Michael Weinstein of Marcus & Millichap represented the seller, an entity doing business as Bowery Square Corp., in the transaction and procured the buyer, Javeri Capital.
Cushman & Wakefield Negotiates $83M Sale of Whole Foods-Anchored Shopping Center in Doral, Florida
by Abby Cox
DORAL, FLA. — Cushman & Wakefield has negotiated the sale of Doral Marketplace, an 83,365-square-foot, newly constructed shopping center located in Doral, a western suburb of Miami. According to multiple media outlets, the property sold for $83 million. Whole Foods Market anchors the property, which was fully leased at the time of sale to tenants including Ulta Beauty, Shake Shack, J. Crew and Warby Parker. Mark Gilbert, Adam Feinstein and Mitchell Halpern of Cushman & Wakefield represented the seller, Atlanta-based SJC Ventures, in the transaction. The buyer is a high-net-worth family office advised by Lincoln Property Co.
HMF Americana Acquires Land from Harris Teeter in Metro Charlotte, Plans Build-to-Rent Development
by Abby Cox
CHARLOTTE, N.C. — HMF Americana, a “hybrid home” development firm, has acquired a development site in metro Charlotte from locally based grocer Harris Teeter with plans to develop a 221-unit build-to-rent residential community. Situated between Stallings and Weddington, N.C., the development will include cottage-style rental homes, along with a portion of homes that will be reserved for residents age 55 and older. The project will also feature approximately 10,000 square feet of multi-tenant commercial space, with additional land available for future expansion. Dowell Finch of New South Properties is leading commercial leasing efforts at the property. Site work is expected to begin next month, followed by vertical construction in the first quarter of 2027. Initial resident move-ins are expected to begin in the third quarter of 2027.
ORLANDO, FLA. — JLL Capital Markets has arranged the sale of Sea Harbor Office Center, a 356,514-square-foot office building located across from SeaWorld in Orlando. Robbie McEwan, Tucker Brooks and Jesse Jones of JLL represented the seller, Northridge Capital LLC, in the transaction. Duvalla Investments and Epoch Residential purchased the property for an undisclosed price. Originally built in 1984, the eight-story office building features a full-service cafeteria, fitness center, two separate lobbies and a five-story parking garage with 1,250 spaces, as well as an additional 380 surface parking spaces. The 14.2-acre site features Planned Development (PD) zoning that allows for future hotel and/or residential development.
WAYNE, N.J. — JLL has negotiated the $7.9 million sale of a 37,770-square-foot medical office building located at 601 Hamburg Turnpike in the Northern New Jersey community of Wayne. The three-story building was completed in 2002 and was 97 percent leased at the time of sale. Jeremy Neuer, Michael Kavaler, J.B. Bruno and Cody Johnson of JLL represented the seller, March Associates, which also houses its headquarters within the building, in the transaction and procured the buyer, Pinnacle Group of Hudson Valley.
Tishman Speyer Sells Office Building in Mountain View, California to Spear Street Capital for $121.5M
by Amy Works
MOUNTAIN VIEW, CALIF. — Tishman Speyer has completed the disposition of 400 Castro Street, a Class A office building in downtown Mountain View, to Spear Street Capital for $121.5 million, or $876 per square foot. Tishman Speyer developed the 138,000-square-foot asset in 2002 and immediately leased the office space in full to Fenwick & West, which still occupies the property. With convenient access to highways and Caltrain, 400 Castro features roof decks, underground parking and views of the San Francisco Bay and coastal mountains. Additionally, the property offers onsite restaurants, including Cascal, Peet’s Coffee and Sweetgreen.
Freestone Capital Acquires Aperture on Fifth Multifamily Community in Downtown Seattle for $32.2M
by Amy Works
SEATTLE — Freestone Capital has purchased Aperture on Fifth, an apartment property in downtown Seattle, from PrivatePortfolio Group for $32.2 million or $304,245 per unit. Giovanni Napoli, Philip Assouad, Ryan Harmon, Nick Ruggiero and Anthony Palladino of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. Situated in the Denny Triangle neighborhood, Aperture on Fifth features 106 studio, one- and two-bedroom apartments with oversized windows and electric fireplaces. Community amenities include a central atrium courtyard, rooftop deck with a full-size bocce ball court, fitness center, bike storage, package lockers, a pet wash area and an underground parking garage.
SRS Real Estate Arranges $11.7M Sale of Lumberjack Square Shopping Center in Bakersfield, California
by Amy Works
BAKERSFIELD, CALIF. — SRS Real Estate Partners has arranged the $11.7 million sale of Lumberjack Square, an 85,031-square-foot shopping center located in Bakersfield. Body Xchange, a fitness and health club, anchors the property, which features a mix of additional tenants including DaVita and The Firehouse. Matthew Mousavi and Patrick Luther of SRS represented the seller, a California-based partnership. The buyer, also a California-based partnership, acquired the property with new financing.
Marcus & Millichap Brokers $8.3M Sale of Two-Property Retail Portfolio in Metro San Diego
by Amy Works
ENCINITAS, CALIF. — Marcus & Millichap has brokered the $8.3 million sale of a two-property retail portfolio located roughly 25 miles north of San Diego in Encinitas. The first property, located at 548-568 S. Coast Highway 101, spans 5,698 square feet of retail space and includes five suites in two adjacent buildings. Adam Robinson of RAF Pacifica Group purchased the property for $4.7 million. The second property, located at 571 2nd St., features 6,508 square feet of retail and office space, as well as six suites. Brett Farrow, a local architect, purchased the property for $3.6 million. Ross Sanchez and Nick Totah of Marcus & Millichap marketed the properties on behalf of the seller, George Charles Gowland Separate Property Trust. The agents also secured and represented both buyers in the transaction.
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