EDISON, N.J. — Cangso Global Inc. has signed a 50,000-square-foot industrial lease in the Central New Jersey community of Edison. The provider of fulfillment services for e-commerce companies is taking space at the building at 240 Mill Road. Jianning Meng of Lee & Associates represented the tenant in the lease negotiations. Heller Industrial Parks Inc. owns the building.
LAKE GROVE, N.Y. — Nordstrom Rack has opened a 25,000-square-foot store in Lake Grove, located on Long Island. The space is located within the 150,000-square-foot Smith Haven Plaza shopping center. Other tenants at the shopping center include Trader Joe’s, Old Navy, Athleta and Ulta Beauty. A partnership between Breslin Realty Development Corp. and Colin Development LLC owns Smith Haven Plaza.
SAN DIEGO — Sudberry Properties has opened The Brynn, the fourth apartment community at its 230-acre Civita at Mission Valley in San Diego. Situated on 3.3 acres at 2525 Via Alta, the property features 200 one-, two- and three-bedroom apartments in 19 floor plan options, ranging in size from from 612 square feet to 1,455 square feet. Units feature private patios or balconies, nine-foot ceilings, hardwood-style flooring in main areas, carpeting in bedrooms, fully equipped kitchens with LG Energy Star stainless steel appliances, quartz countertops and full-size washers/dryers. Community amenities include a pool and spa area with barbecues, lounges and fire pits, an indoor/outdoor bar, a recreation center, courtyards and a fitness studio with cardio equipment and strength training options. Additionally, The Brynn is linked to Civita Park amenities via a short trail. The project team includes Rockwood Construction, AO, RICK and Design Tec Inc. Sudberry Properties will provide property management services for The Brynn at Civita.
ENGLEWOOD, COLO. — Colorado-based The Garrett Cos. has acquired a 12.6-acre development site at 8600 S. Valley Highway in Englewood, from Grace Chapel for an undisclosed price. The buyer is developing Garrett Park Meadow, a 317-unit apartment property on the site. Currently under construction, the community will feature a clubhouse with full amenities and six four-story residential buildings with a mix of one-, two- and three-bedroom units. Eric Roth, Martin Roth and Chris Cowan of CBRE represented the seller in the deal.
Phoenix Commercial Advisors Brokers Sale of Sprouts Farmers Market-Anchored Retail Center in Phoenix
PHOENIX — Phoenix Commercial Advisors has arranged the sale of Ninety Nine Ave, a grocery-anchored retail property in Phoenix. A private buyer acquired the asset from the developer for $30.7 million, or $650 per square foot, in an all-cash transaction. Situated on 5.2 acres on the northeast corner of 99th Avenue and McDowell Road, the property offers 47,201 square feet of retail space. At the time of sale, the property was 100 percent leased to a variety of tenants, including Sprouts Farmers Market, CAVA, Hand & Stone and Mountain Mike’s Pizza. Danny Gardiner and Chad Tiedeman of Phoenix Commercial Advisors represented the seller in the deal.
ALLENTOWN, PA. — Cushman & Wakefield has negotiated a 20,025-square-foot office lease renewal in the Lehigh Valley city of Allentown. The tenant is Selective Insurance, and the building is located at 1275 Glenlivet Drive. David DeMatteis, Robert Rudin, Jan Randall and Jason Sourbeer of Cushman & Wakefield represented Selective Insurance in the lease negotiations. Bill Wolf of CBRE represented the undisclosed landlord.
MEDFORD, ORE. — Fourth Avenue Capital has acquired Ridgewood Apartments, a multifamily property located at 3141 Alameda St. in Medford, from Investors Capital Group for $22.1 million. Situated on 3.9 acres, the community features 96 two- and three-bedroom apartments spread across 13 residential buildings with a clubhouse, fitness center, an outdoor pool and private garages, as well as a standalone leasing office. The property was built in two phases between 2002 and 2004. Josh McDonald and Joe Nydahl of CBRE represented the seller and buyer in the transaction.
TUCSON, ARIZ. — SBA Management LLC has acquired an industrial property located at 1401 and 1501 S. Pantano Road in Tucson from East Coast Tucson Development LLC for $3.8 million. Airtronics will occupy the 47,531-square-foot facility. Robert Glaser and Stephen Cohen of Cushman & Wakefield | PICOR represented the seller in the deal.
DES MOINES, IOWA — Dallas-based HALL Structured Finance (HSF) has provided a $108 million first lien construction loan for 515 Walnut Tower in downtown Des Moines. St. Joseph Group is the borrower and developer. Richard Price and Jackie Meagher of Berkadia arranged the loan. The project will rise 33 stories with 390 apartment units. A central amenity “lodge” will offer fitness, coworking, lounge and entertainment areas, including a rooftop terrace with hot tubs and cooking space. The second floor will feature a 4,000-square-foot fitness center as well as sky walk connections to an adjacent parking garage.
NAPERVILLE, ILL. — Hines has broken ground on 1200 Diehl Road in the Chicago suburb of Naperville. The five-story apartment complex will include 306 units and 15,000 square feet of retail space. The development was partially funded through Hines U.S. Direct Investments. Units will range from studios to three-bedroom layouts. Amenities will include a pool deck, coworking lounge, clubroom, golf simulator, fitness center and walking path. Freedom Commons, a 160,000-square-foot shopping center, sits adjacent to the property. The submarket has received no new institutional multifamily supply since 2022, according to David Bach, senior managing director at Hines. PNC provided a $66 million construction loan for the development, according to Crain’s Chicago Business.