READING, MASS. — Locally based brokerage firm Atlantic Capital Partners has arranged the sale of a 30,000-square-foot retail building in Reading, a northern suburb of Boston. HomeGoods occupies the entirety of the freestanding building, which sold for $5.6 million. Justin Smith, Chris Peterson, Sam Koonce and Matt Austin of Atlantic Capital Partners represented the buyer and seller, both of which requested anonymity, in the transaction.
TUCSON, ARIZ. — First Washington Realty has completed the disposition of Casas Adobes Plaza, a shopping center located 7001-7139 N. Oracle Road in Tucson, to an undisclosed buyer for $51 million. Situated on 9.5 acres, the 92,300-square-foot Casas Adobes Plaza was originally built in 1953 and remodeled in 2014. At the time of sale, the retail center was 97 percent occupied by a variety of tenants including Whole Foods Market, Starbucks Coffee, Pure Barre, Orangetheory Fitness and Chico’s. Patrick Dempsey and Geoff Tranchina of JLL Capital Markets Investment Advisory handled the transaction. Greg Brown and Jason Carlos of JLL Debt Advisory facilitated acquisition financing through a correspondent life insurance company for the buyer. Quin Madden of JLL assisted with the sale and financing.
GLENDALE, ARIZ. — IndiCap and Invesco Real Estate have completed Phase I of Virgin Industrial Park, an industrial development at 15748 W. Hatcher Road in the Phoenix suburb of Glendale. Totaling more than 1 million square feet, Virgin Industrial Park Phase I features Building A, a 564,320-square-foot, cross-dock facility; Building B, a 212,160-square-foot, rear-loading asset; and Building C, a 243,360-square-foot, rear-load space. All buildings offer divisibility options down to 75,000 square feet. Buildings feature 32- to 36-foot clear heights, dock-high and grade-level doors, generous power, extensive car and trailer parking, up to 70-foot speed bays and fully secured concrete truck courts. Make-ready improvements include speculative office space, LED lighting, warehouse HVAC and mechanical pit levelers. The project team includes Graycor Construction Co. as general contractor and Deutsch Architecture as project architect. Anthony Lydon, Marc Hertzberg, Riley Gilbert and Kelly Royle of JLL are handling leasing of the property. At full build-out, Virgin Industrial Park will add 1.5 million square feet of industrial space spread across five Class A buildings to metro Phoenix’s Loop 303 Corridor.
CHICAGO — Lendlease is nearing the lease-up of The Reed at Southbank, a 41-story apartment tower located at 234 W. Polk St. in Chicago’s South Loop. The rental units are now 95 percent occupied. Located along the Chicago River immediately south of the Loop, The Reed is the second high-rise completed in the seven-acre Southbank master plan. The property includes 226 units in a mix of studio, one-, two- and three-bedroom floor plans in addition to 214 condominiums on the upper floors. The tower’s eighth-floor amenity suite includes a 15,000-square-foot outdoor deck with a resort-style pool and cabanas, sunning lawn, fire pits, kitchens and dining areas. Additional amenities include a wet lounge adjacent to the pool deck, indoor-outdoor fitness center, show kitchen, lounge room, virtual sports simulation room, salon, massage room and media room. The Reed is immediately adjacent to Southbank Park, a two-acre green space privately developed by Lendlease as a public amenity. Designed by Hoerr Schaudt, whose plan was implemented by Confluence, the park features a central lawn, natural stone amphitheater and meandering walkways that connect to a new riverwalk. The Reed holds LEED Gold, Fitwel and Energy Star certifications. Green initiatives at the property include the use …
ENGLEWOOD, COLO. — BlueScope Properties Group has completed the sale of Dove Valley Logistics Centre II, a Class A warehouse located at 7800 S. Fairplay St. in the Denver suburb of Englewood, to LBA Realty for an undisclosed price. Sean Devaney and Rob Key of JLL Investment Sales and Advisory represented the seller in the deal. Built in 2023, the 304,620-square-foot cross-dock warehouse offers 89 dock-high doors, 36-foot clear heights, 60-foot column spacing and ESFR sprinklers. Additionally, the property offers 6,700 square feet of office space, including an employee break area, wellness room, conference room and security station. At the time of sale, the asset was fully leased by an e-commerce giant.
CHICAGO — GREA has brokered the sale of a high-rise apartment building with 139 units in Chicago’s Lakeview East neighborhood for an undisclosed price. With separate lobbies at 535 W. Cornelia Ave. and 534 W. Stratford Place, the property contains a mix of studio, one-, three- and four-bedroom units. The studio and one-bedroom layouts range in size from 278 to 904 square feet and are located on the Cornelia side of the building, while the three- and four-bedroom units range in size from 2,260 to 2,959 square feet and are situated on the Stratford side. Bill Montana and Chris Sackley of GREA represented the private owner in the sale. The asset sold to a local family with an established portfolio of apartment properties throughout the northside neighborhoods of Chicago.
WEST DES MOINES, IOWA — Topgolf is scheduled to open its first venue in Iowa, Topgolf Des Moines, on Friday, Sept. 6. The location marks Topgolf’s 101st global outdoor venue and is situated at 7655 Mills Civic Parkway within The Parkways development in West Des Moines. Employing 300 people, Topgolf Des Moines features 72 outdoor climate-controlled hitting bays spanning two levels. Each bay has lounge-type furniture or high-top tables. The venue is equipped with Topgolf’s Toptracer technology, which traces each golf ball’s flight path, distance and other metrics. Guests also enjoy a full-service restaurant and bar helmed by executive chefs.
PHOENIX — Cushman & Wakefield has arranged the sale of an industrial property, located at 2424 S. 21st St. in Phoenix. The 40,930-square-foot asset traded for $9.5 million. The names of the seller and buyer were not disclosed. Cushman & Wakefield’s Phoenix Industrial Private Capital Group handled the transaction.
MANITOWOC, WIS. — Marcus & Millichap has negotiated the $3.4 million sale of Harbor Town Inn & Suites, an 80-room hotel in Manitowoc along Lake Michigan. Built in 1978 and located at 4004 Calumet Ave., the property is independently operated. Amenities include a business center, game room, onsite laundry and outdoor patio. Jared Plamann and Jake Erickson of Marcus & Millichap represented the seller, a family that had owned the property for 34 years, and procured the local buyer. Todd Lindblom, broker of record in Wisconsin, assisted in closing the transaction.
TUCSON, ARIZ. — Arizona Diagnostic Pathology Associates has acquired an office space at Rillito Crossing Corporate Centre in Tucson from Rale Offices LLC for $1 million. The 4,324-square-foot office space is located at 3987 E. Paradise Falls Drive. Jason Shaltiel of Cushman & Wakefield | PICOR represented the buyer, while Georgina Plante of RISING Real Estate Services represented the seller in the deal.