Thursday, December 4, 2025
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AcquisitionsHospitalityMidwestWisconsin

Marcus & Millichap Brokers Sale of 102-Room Hampton Inn Milwaukee-Airport Hotel

by Kristin Harlow

MILWAUKEE — Marcus & Millichap has brokered the sale of the 102-room Hampton Inn Milwaukee-Airport hotel. The three-story property is situated on 3.9 acres at 1200 W. College Ave., less than three miles from the Milwaukee Mitchell International Airport. Amenities include an indoor pool, fitness center, business center, breakfast area and shuttle service. Ebrahim Valliani of Marcus & Millichap represented the seller and procured the buyer, both of which were private investment groups. The transaction received additional support from Michael Klar, Chris Gomes and Allan Miller of the Miller-Gomes Hotel Team.

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AcquisitionsMidwestMinnesotaRetail

Mid-America Negotiates Sale of 28,135 SF Retail Property in Richfield, Minnesota

by Kristin Harlow

RICHFIELD, MINN. — Mid-America Real Estate Corp. has negotiated the sale of Kensington Park, a 28,135-square-foot neighborhood retail center in Richfield, an inner-ring suburb of Minneapolis. Tenants include Chipotle, Noodles & Co., Potbelly and Sarpino’s Pizza. Nearly 70 percent of the occupied gross leasable area has operated at the center for more than 10 years and some tenants since the inception of the center. Amy Senn, Bryce Thompson, Joe Girardi and Eric Geskermann of Mid-America represented the seller, Solomon Real Estate. Black Gate Partners purchased the asset for $6.8 million.

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AcquisitionsDevelopmentIllinoisMidwestRetail

Learning Hills Daycare Purchases Land to Open New Facility in Volo, Illinois

by Kristin Harlow

VOLO, ILL. — The Learning Hills Daycare has purchased a 3.1-acre site at 27065 Route 120 in Volo, a far north suburb of Chicago. Rick Scardino of Lee & Associates represented the buyer, which is a privately owned and operated childcare and learning center. Learning Hills plans to build a new daycare that is slated to open in fall 2026. The company currently operates locations in Crystal Lake, Lake in the Hills and South Elgin. Joe Heffernan of KW Commercial represented the seller, The Ellis Farm Partnership.

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Homestead-Gateway-Jersey-City
Affordable HousingDevelopmentLoansMultifamilyNew JerseyNortheastTop Stories

Goldman Sachs Alternatives Provides $200M in Financing for Jersey City Mixed-Income Project

by Taylor Williams

JERSEY CITY, N.J. — The Urban Investment Group at Goldman Sachs Alternatives has provided $200 million in financing for Homestead Gateway, a 34-story mixed-income multifamily project that will be located in Jersey City’s Journal Square neighborhood. The borrower is Lions Group, a family-owned development firm based in New York. The package covers an array of financing instruments, including a construction loan, bridge debt facility, Low-Income Housing Tax Credit equity and a tax credit purchase through the New Jersey Economic Development Authority’s Aspire program. The financing package also includes a forward Freddie Mac commitment for the tax-exempt and taxable permanent loans. The site is currently home to a municipal parking lot. Of the building’s 360 units, 90 will be set aside as affordable housing, although specific income restrictions were not announced. Homestead Gateway will also feature 3,000 square feet of ground-floor retail space and amenities such as a rooftop lounge, fitness center and shared workspaces. The groundbreaking is set to occur in the coming days. Nicco Lupo, Christopher Peck, Michael Shmuely, Jillian Grzywacz, Alex Staikos, Jimmy Cochran and Tom Didio Jr. of JLL advised Lions Group on the structured capitalization and forward Freddie Mac commitment. “Mixed-income developments like Homestead Gateway demonstrate …

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LouisianaMarket ReportsMultifamilySoutheastSoutheast Market Reports

Metro New Orleans Multifamily Market Remains Balanced 20 Years Post-Katrina

by John Nelson

August 29, 2005 — a day no New Orleanian will forget: Hurricane Katrina. It has been two decades since the levees were breached and flood waters took over the city’s streets, homes and businesses. It was an event that changed the trajectory of the city of New Orleans. Twenty years later and the resiliency of New Orleans to always push on is evidenced by the stability of our multifamily market. Through a period of demolition, renovation and rebuilding, the overall market remains stable. The barriers to entry in the Metro New Orleans multifamily market are significant, and today as in the past, the equilibrium between supply and demand remains in sync. Like other Sun Belt markets, insurance premiums, interest rates and affordability are factors. However, they have not been a deterrent to the viability of the market or interest from investors and the capital markets. Our inventory of more than 55,000 units (professionally managed) spread out over seven parishes, remains strong. Overall metro occupancy is being reported between 92 to 94 percent with average rents of $1,300 per month.  Parish by parish Eastern New Orleans and Algiers, which each have an inventory of approximately 4,000 units, offers the most affordable …

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DevelopmentFloridaLeasing ActivityMixed-UseRestaurantRetailSoutheast

Torburn Signs Whole Foods to Anchor Mixed-Use Redevelopment of Sarasota Square Mall

by John Nelson

SARASOTA, FLA. — Torburn Partners has announced plans for Sarasota Square, the redevelopment of the former Sarasota Square Mall. The Chicago-based developer signed leases with Whole Foods Market and HomeSense to anchor the first phase of the 96-acre mixed-use project. The retail portion is under construction, and the multifamily component will break ground in first-quarter 2026. Full plans for Sarasota Square include 1,200 luxury residential units; 530,000 square feet of retail, restaurant, and commercial space; and open-air gathering space for social events and community programming. Whole Foods will occupy a 35,828-square-foot grocery store, and HomeSense will occupy a 24,214-square-foot store. Other committed tenants include Chipotle Mexican Grill, CAVA Mediterranean, Joe & The Juice and Charles Schwab, which will open a 5,163-square-foot bank branch. Rod Castan and Alyona Tsutskova of Metro Commercial Real Estate are leading the retail leasing assignment at Sarasota Square on behalf of Torburn Partners.

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IndustrialLeasing ActivitySoutheastVirginia

Matan Inks 219,456 SF Industrial Lease With DSV in Stafford, Virginia

by John Nelson

STAFFORD, VA. — Matan Cos. has signed DSV, a global transport and logistics firm headquartered in Denmark, to a full-building lease in Stafford. Named Crossroads Industrial, the 219,456-square-foot building features 32-foot clear heights, 50- by 52-foot column spacing, 64 dock doors, LED lighting, ESFR sprinklers and 20 trailer and 323 car parking spaces. The facility sits within the region’s I-95 industrial corridor and lies equidistant between Richmond and Washington, D.C. Matan, which is based in Frederick, Md., plans to soon launch Venture Industrial, another industrial facility located in Stafford County.

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DevelopmentNorth CarolinaSoutheastStudent Housing

Landmark-Led Group Acquires 40-Acre Site Near Appalachian State University, Plans Cottage-Style Student Housing Development

by John Nelson

BOONE, N.C. — A joint venture between Landmark Properties, HC2 Capital and Peninsula Investments has acquired a 40-acre development site near the Appalachian State University campus in Boone. The parcel will be home to a 625-bed student housing community dubbed The Retreat at Boone. The development will offer 148 cottage-style units in three- through five-bedroom configurations with bed-to-bath parity. Shared amenities are set to include a resort-style pool and spa with cabanas and hammocks; a jumbotron; fire pit and grilling areas; a skate park; fitness center; golf simulator; recreational lawn games; and a computer lab. The development team for the project, which is scheduled for completion ahead of Appalachian State’s 2027-2028 academic year, includes Landmark Construction and Niles Bolton Associates. Trustmark Bank and First Financial Bank provided construction financing.

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AcquisitionsFloridaIndustrialSoutheast

Viking Partners, Decker Capital Purchase Industrial Portfolio in Jacksonville for $26.5M

by John Nelson

JACKSONVILLE, FLA. — A joint venture between Cincinnati-based Viking Partners and Decker Capital has acquired an eight-building industrial portfolio in Jacksonville for $26.5 million. The multi-tenant portfolio spans 198,360 square feet and is situated in the city’s Southside industrial submarket near the Port of Jacksonville. The portfolio was roughly 90 percent leased at the time of sale and represents Viking’s second industrial acquisition in Florida this year.

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IndustrialLoansNorth CarolinaSoutheast

MMCC Arranges $8.9M Loan for Industrial Property in Robersonville, North Carolina

by John Nelson

ROBERSONVILLE, N.C. — Marcus & Millichap Capital Corp. (MMCC) has arranged an $8.9 million loan for a 206,369-square-foot industrial property located at 201 E. 3rd St. in Robersonville. Flagstone Foods, a private healthy snack maker and distributor, fully occupies the facility. Chad O’Connor of MMCC’s San Diego office arranged the 10-year loan through a local credit union on behalf of the undisclosed borrower. The loan features a 6.09 percent interest rate and a 30-year amortization schedule.

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