LIVINGSTON, N.J. — Delivery-first food hall concept Wonder has opened a new, 4,544-square-foot venue in the Northern New Jersey community of Livingston, marking its eighth location in the state. Wonder Livingston features more than 30 restaurants, including Alanza, Bellies, Bobby Flay Steak, Chai Pani, Di Fara Pizza, Fred’s Meat & Bread, Tejas Barbecue and Wing Trip. Patrons can order through a proprietary app, with pick-up and limited dine-in options also available.
ST. LOUIS — Northmarq has negotiated the sale of Westpark Apartment & Townhomes, a 212-unit garden-style multifamily property in St. Louis. Located at 11409 Tivoli Lane, the community was largely built between 1996 and 2006 with a portion developed in 1969. Units range from 800 to more than 2,000 square feet. Amenities include a pool, fitness center, playground and basketball court. Dominic Martinez, Parker Stewart, Charlie McKee and Alex Malzone of Northmarq represented the seller, a locally based private investor, and the buyer, a national owner/operator of multifamily properties.
DECORAH, IOWA — Marcus & Millichap Capital Corp. (MMCC) has arranged a $13.4 million loan for the acquisition of Briar Grove Apartments in Decorah, a city in northeast Iowa. The newly constructed, 92-unit apartment complex is located at 2342 Sweet Parkway Road. The luxury property features a mix of studio to two-bedroom layouts and is situated adjacent to the new Toppling Goliath Brewery & Taproom. Robert Bhat of MMCC arranged the five-year loan, which features an interest rate of 5.48 percent, three years of interest-only payments and a loan-to-value ratio of 65 percent. The lender and borrower were undisclosed.
CHICAGO — Interra Realty has brokered the sale of a 31-unit apartment building in Chicago’s Kenwood neighborhood for $4 million. Located at 4915 S. Drexel Blvd. and originally built in 1926, the property features 10 one-bedroom, 15 two-bedroom and six three-bedroom layouts. The building has undergone several improvements in recent years, including plumbing upgrades, a new reflective roof coating, tuckpointing and window replacements. Brad Feldman of Interra represented the seller, a local operator, and the buyer, a local private partnership that completed a 1031 exchange. The buyer plans to transition operations of the building from market-rate to affordable housing. The transaction marks the first time the property has traded hands in over 20 years.
BLOOMINGTON, ILL. — SVN Core 3 has arranged the sale of an 11,060-square-foot industrial building located at 4 Currency Drive in Bloomington for $1.2 million. The property features overhead doors, office spaces, three restrooms, a retail front, warehouse in the back and ample parking on three sides. The transaction involved local buyers and sellers. Jill Spratt of SVN Core 3 represented the seller, while Patrick and Dan Kniery of Re/Max Rising represented the buyer.
INGLEWOOD, CALIF. — KPC Development Co. has announced its newest project, Kali Hotel and Rooftop, Autograph Collection, at Hollywood Park in Inglewood. Located at 3737 Stadium Drive, the 300-key hotel is adjacent to SoFi Stadium (home of the Los Angeles Rams and Los Angeles Chargers) and YouTube Theater, within walking distance to Intuit Dome (home of the Los Angeles Clippers) and Kia Forum and four miles from Los Angeles International Airport (LAX). The 13-story hotel will offer 34 suites, a pool and yoga deck, spa, fitness center, three food-and-beverage concepts and nearly 20,000 square feet of meeting and event space. The property will also offer 315 onsite parking stalls. The hotel will join Autograph Collection Hotels, part of Marriott Bonoy’s global portfolio of more than 30 brands. The development team includes Clayco as general contractor and design firms Lamar Johnson Collaborative and Sixteenfifty Creative Intelligence.
TEJON RANCH, CALIF. — Tejon Ranch Co. has signed a joint venture agreement with Dedeaux Properties to develop and lease a 510,500-square-foot, industrial warehouse at Tejon Ranch Commerce Center (TRCC) in Tejon Ranch. TRCC is a mixed-use master-planned community that operates as a logistics hub serving all of California and the western United States. The facility will be located on 25 acres just east of Interstate 5. The Class A warehouse will offer Class A divisible cross-dock space with 185-foot truck courts and 36-foot clear heights. Mac Hewett, Mike McCrary and Brent Weirick of JLL will serve as listing agents for the industrial facility. As master developer of TRCC, Tejon has realized 8.2 million square feet of industrial development with an additional 11.1 million square feet of entitled property remaining. TRCC also has 674,000 square feet of existing commercial development, including the Outlets at Tejon. Tejon Ranch Co.’s first residential offering, the 228-unit first phase of Terra Vista at Tejon, a 495-unit apartment community, will open in spring 2025.
MILPITAS, CALIF. — CBRE has arranged the sale of Ascend Apartments, a multifamily community in Silicon Valley. Keith Manson of CBRE represented the buyer in the off-market transaction. Details of the deal were not released. Located at 1821 S. Milpitas Blvd. in Milpitas, Ascend Apartments features 266 studio, one- and two-bedroom floor plans, courtyards, a rooftop terrace with a skyline swimming pool and spa and a fitness center with an outdoor yoga lounge. Built in 2021, the community is situated across from the Milpitas BART and VTA Light Rail stations.
CalBay Development Sells Jack in the Box-Occupied Restaurant Building in Alameda, California for $4M
ALAMEDA, CALIF. — CalBay Development has completed the sale of a single-tenant restaurant property in Alameda to a Thousand Oaks, Calif.-based private investor for $4 million. Jack in the Box occupies the 2,583-square-foot building, which includes a drive-thru. Located at 1257 Park St., the property was originally renovated in 1991. Bill Asher, Jeremy McChesney and Jeff Lefko of Hanley Investment Group, along with Cherie Huillade of Colliers, represented the seller in the deal. Jake Kim of Westlake Village, Calif.-based Pinnacle Estate Properties represented the buyer.
NORTHRIDGE, CALIF. — Coldwell Banker Commercial Quality Properties has arranged the $2.6 million sale of a 10,000-square-foot, multi-tenant office and retail property located at 8727 Tampa Ave. in Northridge, about 25 miles northwest of Los Angeles. Arthur Pfefferman of Coldwell Banker Commercial Quality Properties represented the seller, a law firm, in the transaction. The name of the buyer was not released.