NEW YORK CITY — New York-based developer Baron Property Group has completed The Park Overture, a 92-unit multifamily project in Manhattan’s Washington Heights neighborhood. The property offers one- and two-bedroom units that include individual washers and dryers and amenities such as a fitness center, courtyard, dog run and indoor bike storage space. Rents start at $2,950 per month for a one-bedroom apartment. Baron delivered the property 35 percent preleased.
HICKSVILLE, N.Y. — Michaels has opened a 20,000-square-foot store in Hicksville, located on Long Island. The arts and crafts and home décor retailer is backfilling a space previously occupied by T.J. Maxx at the newly renovated Woodbury Shopping Center. Robert Delavale of Breslin Realty represented the undisclosed landlord in the lease negotiations. RIPCO Real Estate represented Michaels.
CORONA, CALIF. — Castle & Cooke has received $140 million in financing for Crossings at Corona, a Class A retail power center in Corona. John Marshall, Spencer Seibring and Nick Englhard of JLL Capital Market’s Debt Advisory arranged the balance sheet loan through Deutsche Bank AG for the borrower. Completed in 2005, Crossings at Corona offers 833,995 square feet of retail space. The retail and entertainment destination shopping center is shadow anchored by Target and includes sub-anchors Marshalls, Kohl’s, HomeGoods, Sportsman’s Warehouse, Burlington, Edward’s Theatre and other national retail and restaurant tenants.
PERRIS, CALIF. — San Francisco-based DECA has broken ground on a warehouse and distribution facility within Perris Gateway, a fully entitled, speculative cross-dock development on 42 acres in Perris. The new warehouse facility is the second phase of the project, with the first phase consisting of 27,000 square feet of retail space that began construction along Ramona Expressway in March 2023. The 855,330-square-foot industrial building will offer a clear height of 40 feet, 124 dock and four grade loading doors, separate 308 trailer stalls and ample auto parking, heavy power, on-site queuing lane and future adjacent retail amenities. The property is situated at the southeast corner of Ramona Expressway and Nevada Road, just off the Interstate 215 on/off ramp. Andrew Starnes, Phil Lombardo and Cruise Adams of Cushman & Wakefield are handling leasing efforts for the warehouse facility. DECA recently closed on a $135 million construction loan to fund the development of the new warehouse facility. The loan was provided by Affinius Capital and Bank OZK. The equity commitment originated from DECA’s principals and Wildcat Capital Management.
SEATTLE — High Street Residential (HSR), the residential subsidiary of Trammell Crow Co., and capital partner MetLife Investment Management have broken ground on a residential community in Seattle. Slated for completion in fourth-quarter 2026, the seven-story, transit-oriented development is situated in Seattle’s Roosevelt neighborhood. Located at 6716 Roosevelt Way NE, the property will offer 244 studio, one- and two-bedroom apartments with air conditioning, a unique feature among multifamily projects in the Roosevelt neighborhood. Community amenities will include a two-story coworking space, rooftop clubroom with indoor and outdoor spaces, fitness center and ground-floor retail space. The property is located a half block from the Roosevelt Link Light Rail station, offering residents an 11-minute commute to downtown Seattle, a 35-minute commute to downtown Bellevue, Wash., and a 48-minute commute to Overlake and Redmond, Wash. Weinstein A+U designed the project and Chinn Construction is serving as general contractor. Avenue5 will serve as property manager.
VISALIA, CALIF. — Northmarq has arranged $29.5 million in refinancing for Quail Park at Shannon Ranch, a seniors housing property at 3440 W. Flagstaff Ave. in Visalia. Quail Park offers 120 independent living, assisted living and memory care studio, one- and two-bedroom floor plans, as well as adjoining studio suites. Units include full-size kitchens, in-home washers/dryers, weekly housekeeping and linen services, scheduled transportation and pet-friendly rooms with available personalized pet care. Community amenities include a sports den, theater, pub, beauty salon, chef-prepared meals with signature anytime dining options, a fitness center with a swimming pool and fitness classes, and an on-site personal trainer. The community is operated by Seattle-based Living Care Lifestyles, and the ownership group includes the principal of Living Care Lifestyles, several investors local to Visalia and Kaweah Health System of Visalia. Northmarq’s Seattle Debt + Equity team led by Stuard Oswald secured the financing on behalf of the borrower, Northwest Visalia Senior Housing LLC, through a correspondent relationship with Poppy Bank of California. The financing was structured on a 10-year term with interest-only payments for the first five years. The loan proceeds were used to retire a bridge loan that Northmarq originated in 2021.
Woodside Health Development Buys Paradise Valley Plaza Office, Medical Complex in Phoenix for $20.9M
PHOENIX — Cleveland, Ohio-based Woodside Health Development has purchased Paradise Valley Plaza, a multi-tenant office and medical complex in Phoenix, from Cloud Peak Development for $20.9 million. Located at 5010, 5020 and 5040 E. Shea Blvd., the three-building, 100,203-square-foot asset is 95 percent leased to a tenant mix of 50 percent office and 50 percent medical/wellness tenants. The complex features drive-up exterior loading suites, interior and outdoor courtyards, breezeways and balcony spaces. Eric Wichterman, Mike Coover and Chris Toci of Cushman & Wakefield’s Private Capital Markets in Phoenix represented the seller in the transaction.
LAWRENCE, KAN. — The Preiss Company has acquired The Collective at Lawrence, a 784-bed, cottage-style community located near the University of Kansas in Lawrence. Formerly known as The Nest, The Collective at Lawrence was built in 2018 and offers 270 units. Shared amenities include a state-of-the-art clubhouse, indoor/outdoor fitness center, swimming pool, hot tub, disc golf course, soccer field and study areas. Enhancements are planned for the community and will include comprehensive technology upgrades.
MORTON GROVE, ILL. — Pearlmark has provided a $7.4 million mezzanine debt investment for the recapitalization of The Residences at Sawmill Station, a 250-unit apartment complex in the Chicago suburb of Morton Grove. Pearlmark Mezzanine Realty Partners V LP originated and structured the investment. Wintrust Bank provided the senior loan, extending its existing loan on the property. UrbanStreet Group is the owner and developer. The Residences at Sawmill Station is part of a 26-acre mixed-use development that includes a 240,000-square-foot lifestyle center. Amenities include a pool, fitness center, coworking offices, a resident lounge, dog spa, pet park and covered garage. Mark Witt of Pearlmark arranged the transaction.
ST. LOUIS — Global design firm HOK has signed a lease to relocate its St. Louis office to Peabody Plaza at 701 Market St. next year. Avison Young represented the tenant, while CBRE represented the owner, Briar Meads Capital. The lease commences in September 2025. HOK will occupy approximately 42,000 square feet across the building’s fourth and fifth floors, including an outdoor terrace. HOK’s new space is 3,000 square feet larger than its current location at 10 S. Broadway. The firm’s interior designers are crafting the new office with various space types such as outdoor work and gathering spaces, a design resource center and maker space/model shop. HOK announced its intention to stay downtown during a staff meeting earlier this year.