Property Type

JLL Secures $45M Acquisition Financing for Garden Village Student Housing Community Near UC Berkeley

by Amy Works November 11, 2024

BERKELEY, CALIF. — JLL Capital Markets has secured $45 million in financing for Hawkins Way Capital’s acquisition of Garden Village, a student housing community in Berkeley. Located at 2201 Dwight Way, Garden Village offers 77 residential units for students. The property will be operated as the FOUND Study Southside Berkeley and will be managed by FCL Management. Built in 2016 near the University of California, Berkeley (UC Berkeley), the mid-rise property offers a mix of two- and four-bedroom floor plans, a rooftop farm and flower garden, secured access, outdoor patios, an indoor lounge, laundry room, fitness center and bike storage. The community consists of 18 buildings, totaling 64,301 square feet. Brandon Smith, Annie Rice and Gyasi Edmondson of JLL Capital Market’s Debt Advisory arranged the two-year, floating-rate loan through Limekiln Real Estate Investment Management. The financing package includes an initial funding of $36 million, with an additional $9 million available for future funding.

November 11, 2024

Acquisitions California Development Industrial Self-Storage Western

Buchanan Street Partners Buys Metro Los Angeles Development Site, Plans 1,180-Unit Self-Storage Project

by Amy Works November 11, 2024

UPLAND, CALIF. — Buchanan Street Partners has acquired a 2.1-acre site located at 1382 E. Foothill Blvd. in Upland for $6.2 million from a private owner/developer in an off-market transaction. Buchanan Street Partners plans to redevelop the site, which is located approximately 37 miles east of Los Angeles and is currently occupied by a vacant medical office building, into a Class A self-storage facility. The new four-story, 123,000-square-foot property will offer 1,180 self-storage units. Construction will begin immediately, with completion slated for January 2026. DAI General Contracting is the general contractor, and Wintrust Bank is providing construction financing for the project.

November 11, 2024

Civic Development Midwest Minnesota

Kraus-Anderson Completes $43.7M School in Lamberton, Minnesota

by Kristin Harlow November 11, 2024

LAMBERTON, MINN. — Kraus-Anderson has completed a new PK-12 school for Red Rock Central School District in Lamberton, a city in southern Minnesota. Kraus-Anderson worked closely with the district to pass a $41 million bond referendum in November 2021 to fund the new $43.7 million school. Designed by MLA Architects, the 130,000-square-foot property features a gym, fitness center and weight room, auditorium and stage, and art and science labs. There are also CTE spaces, common areas, Special Ed spaces and a storm shelter. Construction began in February 2023.

November 11, 2024

Civic Development Midwest Missouri

Titan Built Breaks Ground on $30.5M Joint Operations Facility for City of Lee’s Summit, Missouri

by Kristin Harlow November 11, 2024

LEE’S SUMMIT, MO. — Titan Built has broken ground on a $30.5 million joint operations facility for the City of Lee’s Summit. Designed by Hoefer Welker, the 43,600-square-foot project will function as central command for emergency preparedness, management and disaster management, and day-to-day emergency response coordination. The property will house fire department administration and training teams, city emergency operations, the traffic operations center and a co-located fire and police communication center. Voters approved the construction of the facility as part of the 2023 No Tax Increase Bond initiative that allocated $74 million to enhance safety and emergency preparedness. The project also received $1.5 million in financial support from the State of Missouri. Completion is slated for spring 2026.

November 11, 2024

Acquisitions Michigan Midwest Retail

Marcus & Millichap Arranges $2M Sale of Two-Tenant Retail Property in Stevensville, Michigan

by Kristin Harlow November 11, 2024

STEVENSVILLE, MICH. — Marcus & Millichap has arranged the $2 million sale of a 4,556-square-foot retail property occupied by Starbucks and T-Mobile in Stevensville, a city in southwest Michigan. Constructed in 2021, the building is located at 4678 Red Arrow Highway. John Nuzman of Marcus & Millichap represented the seller, TDM Partners LLC. Chris Prins of DAR Commercial Real Estate represented the local buyer. The asset sold at 97 percent of the list price.

November 11, 2024

Acquisitions Illinois Midwest Multifamily

SVN Chicago Commercial Brokers $1.2M Sale of Multifamily Property in Lombard, Illinois

by Kristin Harlow November 11, 2024

LOMBARD, ILL. — SVN Chicago Commercial has brokered the sale of a seven-unit multifamily property in the Chicago suburb of Lombard for $1.2 million. The sales price marked one of the highest price-per-door transactions in Lombard to date, according to SVN. The 5,950-square-foot property is located at 143 E. Grove St. Joe Connelly of SVN represented the seller, while David Szymanowski of SVN represented the all-cash buyer.

November 11, 2024

Acquisitions California Property Type Restaurant Retail Western

Hanley Investment Group Arranges Sale of Multi-Tenant Retail Pad in Fresno, California

by Amy Works November 11, 2024

FRESNO, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of Shops at Broadway Faire, a multi-tenant, net-leased retail pad property in Fresno. Built in 1995 on 1.4 acres, the 15,000-square-foot retail pad is located at 3367-3385 W. Shaw Ave. At the time of sale, the property was fully leased by five tenants: Red Robin, which occupies 47 percent of the property; FedEx Office, which recently signed a new 10-year lease; Conroy’s Flowers, which recently executed a new 10-year renewal; Liquor 4U, which extended an additional five years with a rental increase; and OneMain Financial, which exercised its five-year extension option. Eric Wohl and C.J. Kiehler of Hanley Investment Group Estate Advisors represented the seller, a New York-based real estate investment trust, while the buyer, a local private investor, was self-represented in the transaction. The sales price was not disclosed.

November 11, 2024

Leasing Activity Michigan Midwest Retail

Mathnasium Signs 1,500 SF Retail Lease at Brookdale Square in South Lyon, Michigan

by Kristin Harlow November 11, 2024

SOUTH LYON, MICH. — Mathnasium has signed a 1,500-square-foot retail lease at Brookdale Square in South Lyon, about 40 miles west of Detroit. The shopping center, located at the intersection of 9 Mile Road and Pontiac Trail, is now fully leased. Michael Murphy and Tjader Gerdom of Gerdom Realty & Investment represented the landlord, Beztak Properties.

November 11, 2024

Acquisitions Colorado Industrial Western

Malman Commercial Real Estate Negotiates $4.5M Sale of Industrial Building in Denver

by Amy Works November 11, 2024

DENVER — Malman Commercial Real Estate has arranged the sale of 4600 Ironton Street, an industrial property in Denver. GS Ironton LLC sold the asset to Aspen Ironton LLC for $4.5 million. The property offers 37,636 square feet of industrial space. Jake Malman and Dan Prevedel of Malman Commercial Real Estate represented the seller, while Taylor Roy, also with Malman, represented the buyer in the deal.

November 11, 2024

Acquisitions Colorado Restaurant Retail Western

Quantum Directs $1.8M Sale of Starbucks-Occupied Retail Property in Lakewood, Colorado

by Amy Works November 11, 2024

LAKEWOOD, COLO. — Quantum Real Estate Advisors has arranged the sale of a freestanding retail building in Lakewood. A West Coast-based private trust sold the asset to a West Coast-based family for $1.8 million. Starbucks Coffee occupies the property, which was sold for 100 percent of list price. Nick Hilgendorf and Zack Hilgendorf of Quantum Real Estate Advisors represented the seller, while Matt Lipson of Northmarq represented the buyer in the transaction.

November 11, 2024

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