Property Type

Midas Construction Tops Off 227-Unit Luxury Apartment Complex in Ellisville, Missouri

by Kristin Harlow July 16, 2024

ELLISVILLE, MO. — Midas Construction has topped off MILA Apartments in Ellisville, a far west suburb of St. Louis. The four-story, 227-unit luxury apartment complex is slated for completion in summer 2025. Midas Hospitality and Balke Brown are developing the project with affiliates Double Eagle Development and Diamond Income Fund. Designed by Rosemann & Associates, the property will feature a 141,000-square-foot parking garage. There will be eight floor plans ranging in size from 552 to 1,363 square feet. Amenities will include a courtyard, pool, bike storage, dog park, business center and fitness room. The project site was formerly home to a car dealership.

July 16, 2024

Indiana Loans Midwest Multifamily

Dwight Mortgage Trust Provides $26.8M Bridge Loan for Multifamily Property in Indianapolis

by Kristin Harlow July 16, 2024

INDIANAPOLIS — Dwight Mortgage Trust (DMT), the affiliate REIT of Dwight Capital, has provided a $26.8 million bridge loan for Fountain Parc Apartments in Indianapolis. The 241-unit, garden-style multifamily property consists of 14 buildings on 15 acres. Amenities include a fitness center, pet wash station, dog park, playground, pool and firepit. The loan proceeds will retire existing debt and finance interior improvements. David Scheer of Dwight originated the loan on behalf of the borrower, Pepper Pike Capital Partners.

July 16, 2024

Development Healthcare Midwest Minnesota

Davis Opens 36,100 SF Surgical Facility in Eagan, Minnesota

by Kristin Harlow July 16, 2024

EAGAN, MINN. — Davis Healthcare Real Estate has opened Eagan Specialty Center, a 36,100-square-foot surgical facility in the Minneapolis suburb of Eagan. Located at 2975 Holiday Court, the building serves as the new home of Midwest Surgery Center, which occupies 27,000 square feet. Anne Madyun of Davis is marketing the available 9,000-square-foot space for lease. The project team included Synergy Architecture Studio and Timco Construction. Midwest Surgery Center, a joint venture between St. Paul Eye Clinic and Midwest ENT, relocated and expanded from its previous facility in Woodbury.

July 16, 2024

Acquisitions Multifamily Northeast Pennsylvania Seniors Housing Walker & Dunlop

Walker & Dunlop Brokers Sale of 146-Unit Seniors Housing Property in Bucks County, Pennsylvania

by Taylor Williams July 16, 2024

BUCKS COUNTY, PA. — Walker & Dunlop has arranged the sale of a 146-unit seniors housing property in Bucks County. The unnamed property, which was developed in 2022 and is located about 30 miles north of Philadelphia, offers independent living, assisted living and memory care services. The buyer was a public healthcare REIT. The seller and sales price were not disclosed. Joshua Jandris, Mark Myers and Brett Gardner led the Walker & Dunlop team on the transaction.

July 16, 2024

Leasing Activity New York Northeast Office

JLL Negotiates 75,825 SF Office Lease in Midtown Manhattan

by Taylor Williams July 16, 2024

NEW YORK CITY — JLL has negotiated a 75,825-square-foot office lease at 245 Park Avenue in Midtown Manhattan. The tenant, Tradeweb Markets (NASDAQ: TW), will occupy the entire 29th and 30th floors of the 1.8 million-square-foot building. David Kleiner, Michael Berg, Will McGarry and Finley Burger of JLL represented the tenant in the lease negotiations. Patrick Murphy, Bruce Mosler, Tara Stacom, Harry Blair, Ron LoRusso, Justin Royce, Pierce Hance and Will Yeatman of Cushman & Wakefield represented the landlord, SL Green.

July 16, 2024

Leasing Activity Massachusetts Northeast Office

Bohler Engineering Signs 20,000 SF Office Lease in Westborough, Massachusetts

by Taylor Williams July 16, 2024

WESTBOROUGH, MASS. — Bohler Engineering has signed a 20,000-square-foot office lease for its new regional headquarters in the central Massachusetts city of Westborough. The 92,600-square-foot building at 50 Washington St. includes a fitness center and a cafeteria. Steve Woelfel and Kevin Brawley of Colliers represented the tenant in lease negotiations. Bob McGuire and Alison Powers of JLL represented the locally based landlord, Carruth Capital.

July 16, 2024

Leasing Activity New York Northeast Office

Law Firm Inks 6,000 SF Office Lease Expansion at Rockefeller Center in Manhattan

by Taylor Williams July 16, 2024

NEW YORK CITY — Law firm Emery Celli Brinckerhoff Abady Ward & Maazel LLP (ECBAWM) has inked a 6,000-square-foot office lease expansion at Rockefeller Center in Manhattan. The deal raises the firm’s footprint within the 34-story building at 1 Rockefeller Plaza from 16,000 to 22,000 square feet. Zev Holzman of Savills and Paul Revson of Emerald Realty represented ECBAWM in the lease negotiations. The landlord, Tishman Speyer, was represented internally.

July 16, 2024

Development Multifamily Seniors Housing Washington Western

Watermark, Alliance Complete Independent Living Expansion at Watermark at Bellevue

by Amy Works July 16, 2024

BELLEVUE, WASH. — Watermark Retirement Communities and Alliance Residential Co. have completed construction of a new independent living tower at Watermark at Bellevue in the Seattle suburb of Bellevue. The community now offers a continuum of care, with its existing assisted living and memory care spaces. The property features 110 assisted living apartments and 26 memory care units. The expanded Watermark at Bellevue, now totaling 360,000 square feet, spans an entire city block. The 155-unit, 22-story independent living tower features studios, one-bedroom and two-bedroom apartments. Watermark at Bellevue is adjacent to the 190-unit Broadstone Savoie, which is a luxury multifamily project featuring studios, one-bedroom and two-bedroom apartments, as well as townhomes.

July 16, 2024

Colorado Industrial Leasing Activity Western

Broadrange Logistics Leases 1.1 MSF at 76 Commerce Center in Denver

by Amy Works July 16, 2024

DENVER — Broadrange, a Georgia-based third-party logistics company, has signed a long-term lease to occupy 1.1 million square feet at 76 Commerce Center in Denver. A servicer of the green energy sector, Broadrange plans to occupy the two buildings at 76 Commerce Center starting in September 2024. The company will use this property for distributing solar panel components. Situated on 155 acres, 76 Commerce offers four cross-dock buildings, 36-foot clear heights, four drive-in doors and 106 and 108 dock-high doors in Building 1 and Building 3, respectively, in addition to trailer parking and office space. Building 1 is also on a gated and secured site. Todd Witty and Daniel Close of CBRE represented the landlords, Hyde Development and Mortenson Properties, while Sam Dragan and Jim Bolt of CBRE represented the tenant in partnership with Atlanta-based Strategic Real Estate Partners in the transaction.

July 16, 2024

Acquisitions California Net Lease Restaurant Retail Western

Beta Agency Arranges $7.5M Sale of Raising Cane’s Chicken Fingers-Occupied Restaurant in Carson, California

by Amy Works July 16, 2024

CARSON, CALIF. — Beta Agency has arranged the sale of a restaurant property located at 20707 Avalon Blvd. in Carson, south of Los Angeles. A Los Angeles-based private investor sold the asset to an Orange County, Calif.-based private buyer in a 1031 exchange for $7.5 million. Raising Cane’s Chicken Fingers occupies the 2,950-square-foot property with 12 years remaining on its triple-net lease, which backed by a corporate guarantee. The lease also includes 10 percent rental increases every five years. The restaurant opened in 2022. Adam Friedlander of Beta Agency represented the seller, while George Felix and Dan Blackwell of CBRE represented the buyer in the deal.

July 16, 2024

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