Thursday, May 21, 2026
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Affordable HousingDevelopmentIndianaMidwestMultifamily

Annex Group Opens $23M Workforce Housing Community in Bloomington, Indiana

by Kristin Harlow

BLOOMINGTON, IND. — The Annex Group has opened The Annex of Bloomington, a $23 million workforce housing community located on South Grant Street in Bloomington. The property features 102 studio, one- and two-bedroom units across two buildings. The community is within walking distance of the Indiana University campus. Retail space on the first level is home to a new Bru Burger location from Cunningham Restaurant Group and Coffee Beanery. The project team included Gilliatte General Contractors Inc., architect KTGY and engineer Smith Design Group Inc. STAR Financial Bank provided $18.1 million in funding.

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DevelopmentIllinoisIndustrialMidwest

Principle Construction Completes 282,588 SF Tenant Improvement Project for Tailored Brands in Aurora, Illinois

by Kristin Harlow

AURORA, ILL. — Principle Construction has completed a 282,588-square-foot tenant improvement project for Tailored Brands at 2000 Deerpath Road in Aurora. The fashion retailer owns brands such as Men’s Wearhouse, Jos A. Bank and K&G Fashion Superstore. The new building will service Chicago, Cincinnati, Detroit and Minneapolis, each of which is currently serviced by other distribution centers in Houston, Pittston and Atlanta. Principle added a dedicated 13,491-square-foot boiler and dry-cleaning room with a specialized mezzanine for pipe support and a new 4,000-amp electrical service to accommodate the facility’s energy demands. Improvements also included 20 new rooftop air conditioning units, 14 interlocking exhaust fans, an ESFR sprinkler system and 29 new loading docks. Partners in Design was the architect.

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AcquisitionsIllinoisMidwestRetail

JLL Brokers Sale of 47,997 SF Tesla Sales, Service Center in Northbrook, Illinois

by Kristin Harlow

NORTHBROOK, ILL. — JLL Capital Markets has brokered the sale of a flagship Tesla sales, service and delivery center in the Chicago suburb of Northbrook for an undisclosed price. The newly developed build-to-suit for Tesla is located at 1000 Skokie Blvd. The 47,997-square-foot property is Tesla’s only custom build-to-suit sales, service and delivery center in Chicagoland. Designed to support several retail showrooms throughout Chicago’s northern suburbs, the Northbrook facility provides new vehicle delivery, vehicle preparation and maintenance services. The building also features a showroom and ancillary office spaces. Alex Sharrin and Josh Katlin of JLL represented the seller, a joint venture between Focus and Fort Union. Kingsbarn Realty Capital was the buyer.

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AcquisitionsMidwestOhioRetail

Marcus & Millichap Arranges $4.2M Sale of Charles Schwab-Occupied Property in Westlake, Ohio

by Kristin Harlow

WESTLAKE, OHIO — Marcus & Millichap has arranged the $4.2 million sale of a 7,187-square-foot property net leased to Charles Schwab in Westlake, about 12 miles west of downtown Cleveland. Built in 2020, the asset is located across from the Crocker Park retail center. Scott Wiles, Craig Fuller and Erin Patton of Marcus & Millichap represented the seller, a Cleveland-based family office. A California-based 1031 exchange investor was the buyer. Michael Glass, broker of record in Ohio, assisted in closing the transaction.

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470-Chestnut-Ridge-Road-Woodcliff-Lake-New-Jersey
AcquisitionsNew JerseyNortheastOffice

Keystone Property Group Sells Northern New Jersey Office Building for $9.8M

by Taylor Williams

WOODCLIFF LAKE, N.J. — Metro Philadelphia-based investment and development firm Keystone Property Group has sold a 53,730-square-foot office building located at 470 Chestnut Ridge Road in the Northern New Jersey community of Woodcliff Lake. The sales price was $9.8 million. The building was fully leased at the time of sale to Kiewit Infrastructure. Jeffrey Dunne, Doug Rodio, Travis Langer and Dan Blumenkrantz of CBRE represented Keystone in the transaction. The buyer was not disclosed.

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AcquisitionsMultifamilyNortheastPennsylvaniaSeniors Housing

ESI Negotiates Sale of Continuing Care Retirement Community in Somerset, Pennsylvania

by Taylor Williams

SOMERSET, PA. — Evans Senior Investments (ESI) has negotiated the sale of The Patriot, a continuing care retirement community (CCRC) in Somerset, located in southwest Pennsylvania. The transaction was executed on behalf of a nonprofit organization. The CCRC features 100 licensed skilled nursing beds, 47 personal care units and two independent living units. At the time of sale, the skilled nursing component of the property was 77 percent occupied, and the personal care beds were 47 percent occupied.

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HospitalityLoansNortheastPennsylvania

Largo Capital Arranges $7.8M Loan for Refinancing of Metro Philadelphia Hotel

by Taylor Williams

WARMINSTER, PA. — Largo Capital, a financial intermediary based in upstate New York, has arranged a $7.8 million loan for the refinancing of the 92-room Holiday Inn Express & Suites hotel in Warminster, a northern suburb of Philadelphia. The hotel offers amenities such as a pool, fitness center and complimentary breakfast. Katie Vivian of Largo Capital originated the nonrecourse loan, which carried a five-year term and 30-year amortization schedule. The borrower and direct lender were not disclosed.

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Leasing ActivityLife SciencesNortheastPennsylvania

KOKO Medical Signs 19,859 SF Life Sciences Lease in Exton, Pennsylvania

by Taylor Williams

EXTON, PA. — KOKO Medical has signed a 19,859-square-foot life sciences in Exton, a western suburb of Philadelphia. The medical device and women’s healthcare provider is relocating and expanding from nearby Malvern to the 63,000-square-foot building at 770 Pennsylvania Drive, which is part of the 800-acre Eagleview mixed-use development. Mitch Reading of Tactix Real Estate Advisors represented the tenant in the lease negotiations. Sam Sherrill represented the landlord, Hankin Group, on an internal basis.

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Lakeview-Innovation-Center-Thousand-Oaks-CA
AcquisitionsCaliforniaIndustrialOfficeWestern

JLL Arranges Sale of 276,529 SF Lakeview Innovation Center Flex Campus in Thousand Oaks, California

by Amy Works

THOUSAND OAKS, CALIF. — JLL Capital Markets has arranged the all-cash sale of Lakeview Innovation Center, a flex campus on 22.1 acres in Thousand Oaks. An undisclosed seller sold the asset to a partnership between Alta West Partners, an affiliate of Glendon Capital Management and A2 Capital Management for an undisclosed price. Michael Leggett, Jeffrey Bramson, Andrew Harper and William Poulsen of JLL represented the seller in the transaction. Renovated in 2023, Lakeview Innovation Center offers 276,529 square feet of research-and-development (R&D) and office space. The campus includes an onsite Equinox fitness club, Earthbar, pickleball court, walking trails, a tenant lounge and multiple outdoor patio and collaborative spaces. The tenant roster includes Marvell Technologies and Rawlings, which benefit from the property’s infrastructure, including lab-grade HVAC, excess power capacity, ample clear heights, loading docks and backup generators. Additionally, the asset offers expansion opportunities with M2 zoning, supporting up to 123,000 square feet of additional density for life sciences, R&D or office uses. The new ownership team plans to upgrade the common areas, restrooms, signage and landscaping.

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AcquisitionsCaliforniaMultifamilyWestern

Partnership Buys Multifamily Community in Modesto, California for $17M

by Amy Works

MODESTO, CALIF. — Aspen Real Estate Financial (AREF), in partnership with Stanislaus Regional Housing Authority and California Affordable Housing Agency (CalAHA), has acquired the 50-unit Rumble Road Apartments in Modesto for $17 million, or $340,000 per unit. AREF handles 100 percent of the total capitalization of the acquisition, along with reserves to cover lease payments and operating expenses. The program is a long-term lease to own, where AREF donates all equity and upside value to Stanislaus Regional Housing Authority. Stanislaus Regional Housing Authority, on a 35-year lease to own the property, will begin implementing a workforce housing platform at the property where the rent levels are structured to fall within moderate income housing as defined by HUD at 80 percent to 120 percent of area median income. Located at 2531 W. Rumble Road, the community offers 10 one-bedroom units and 40 two-bedroom apartments with air conditioning, ceiling fans, stainless steel appliances, double-pane windows, walk-in closets, full-size washers/dryers and tankless water heaters. Community amenities include a clubhouse with a fitness center, play area and onsite property manager. AREF has provided funds to gate the entire community. Matt Benwitt of Lee & Associates LA North/Ventura represented the buyer, while Marcus & Millichap …

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