MATTOON, ILL. — SVN Chicago Commercial has brokered the $17.1 million sale of the 102-room Hilton Garden Inn Mattoon. Constructed in 2022, the property is located at 100 Coles Centre Parkway and features Hilton’s new branded layout. Derek Gonsch of SVN Chicago represented the undisclosed seller. Lekhraj Ahuja, a local investor and experienced hotel operator, was the buyer.
GILBERTS, ILL. — Opus has completed construction on a 52,174-square-foot build-to-suit facility for Elgin Recycling at 58 Center Drive in Gilberts, a far northwest suburb of Chicago. Situated in the Turnberry Lakes Business Park, the facility is blocks away from Elgin Recycling’s headquarters and serves as one of its four Chicago-area recycling scrap yards. Elgin Recycling is a family-owned operation that processes ferrous and non-ferrous metals, exotic alloys and electronics. The new Gilberts location processes recycled electronics from public drop-off facilities, breaking them down into components that are transported to downstream recyclers. The facility, which will be fully operational in July, features a clear height of 28 feet, six dock doors, two drive-in doors and up to 58 vehicle parking stalls. Opus served as the design-builder and worked in partnership with Architects Plus Design Studio PLLC, Structural Enginuity Inc. and Spaceco.
EAST CAMBRIDGE, MASS. — Chicago-based financial services firm Mesirow has purchased a 20-story apartment building in East Cambridge, located across the Charles River from Boston. Built in 2015 within the 4.5 million-square-foot Cambridge Crossing mixed-use development, the building is known as Twenty20 and houses 355 units with an average size of 807 square feet, as well as 8,625 square feet of retail space. Residences come in studio, one-, two-, three- and four-bedroom floor plans. Amenities include a rooftop terrace, fitness center, yoga sundeck, a pet wash station, clubroom and a library. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller, an undisclosed institutional investment firm, in the transaction and procured Mesirow as the buyer.
NEW YORK CITY — Avison Young has negotiated the $23.5 million sale of a 22,285-square-foot retail building in Lower Manhattan. The building at 446 W. 14th St. is located in the Meatpacking District and was fully leased at the time of sale to Puttery, a minigolf-themed entertainment concept. The seller was an entity doing business as Meatpacking Retail LLC, and the buyer was a joint venture between Klosed Properties and Namdar Realty Group. James Nelson, Brent Glodowski, Mitchell Levine and Noah Kossoff of Avison Young brokered the deal.
NEW YORK CITY — CBRE has arranged a $17.2 million acquisition loan for two apartment buildings located at 159 and 161 Prince St. in Manhattan’s SoHo neighborhood. Built in the early 1900s, the historic, five-story buildings consist of 37 residential units and two ground-floor retail spaces totaling approximately 20,000 square feet. Shamir Seidman of CBRE arranged the loan through Derby Copeland Capital on behalf of the borrowers, private investors Michael and Ed Ostad.
MILLER PLACE, N.Y. — Trader Joe’s has opened a 13,5000-square-foot shopping center in Miller Place, located on Long Island. The store is housed within a newly constructed building at 300 State Route 25A. Robert Delavale of The Breslin Organization represented the undisclosed landlord in the lease negotiations. A grand opening ceremony took place in mid-February.
— By Mike Embree of Drawbridge Realty — After 16 consecutive quarters of either negative or negligible net absorption, Salt Lake City’s office market closed 2025 on a positive note. The end result was 114,700 square feet of direct occupancy gains, per Cushman & Wakefield. This resulted in 263,000 square feet of direct absorption for the year, spurring a 500-basis point decline in the direct vacancy rate, which now stands at 19.4 percent. It’s too early to say that the market has turned the corner, but the signs are promising. For landlords, one positive in a market with about 10 million square feet of availability is that new office construction has effectively stalled for now. Only one building was delivered in 2025, adding just 180,000 square feet to the existing inventory with no new office projects on the drawing board. At the same time, more than a dozen buildings were removed from the office leasing market, either by developers pursuing multifamily conversions or purchases by owner-users. One such sale occurred in the fourth quarter when the Salt Lake City Corporation of Public Utilities purchased One Airport Tech, a two-story, 87,657-square-foot building near Airport Technology Park campus. C&W data notes …
FRAMINGHAM, MASS. — Party City and Staples have partnered to bring the specialty party retailer inside more than 700 Staples locations nationwide and on the Staples website, with plans to expand to additional stores by the end of 2026. According to the companies, the partnership creates a single destination for celebrations by offering a selection of balloons, décor and party supplies, along with Staples same-day print and marketing services. “Staples has always been focused on making things easy for our customers, and our partnership with Party City takes that promise into new territory,” says Marshall Warkentin, president of Staples U.S. Retail. The Party City stores within a store offer a range of latex and foil helium balloons in a variety of colors, sizes and designs. In the coming weeks, shoppers will also be able to schedule balloon pickups in advance through the Staples website and app. In addition, customers can shop for party décor, tableware, gift bags, costume accessories and favors, while also creating personalized invitations, banners, yard signs and posters through Staples print services. Party City Holdco Inc. (PCHI) first filed for Chapter 11 bankruptcy protection in January 2023 and announced in December 2024 that it would be liquidating and …
NEW BRAUNFELS, TEXAS — Houston-based development and brokerage firm NewQuest is underway on construction of a 100,000-square-foot retail expansion project in New Braunfels, a northeastern suburb of San Antonio. The expansion of New Braunfels Town Center at Creekside, which is part of the 400-acre Creekside Town Center master-planned development, involves construction of new single-tenant buildings for EöS Fitness, Chick-fil-A, Portillo’s and Chase Bank. The project will also feature a roughly 10,000-square-foot multi-tenant building that is fully preleased to Chipotle Mexican Grill, CAVA, Potbelly, Blo Dry Bar and Menchie’s Frozen Yogurt. A tentative completion date was not announced.
MURFREESBORO, TENN. — National Health Investors (NHI) has executed an agreement to sell a seniors housing portfolio to National HealthCare Corp. (NHC) for a total of $560 million. The portfolio includes 32 skilled nursing facilities and three independent living facilities. NHC currently operates the properties on behalf of NHI. In 2025, the portfolio generated cash lease revenue of roughly $39.7 million for NHI. According to NHI, the Murfreesboro-based company expects this move to increase its concentration in the category of private-pay seniors housing. Following the transaction, NHI’s senior housing operating portfolio segment will represent roughly 22 percent of its total investments, with skilled nursing exposure to represent 12.2 percent of total investments. In a statement, NHI also noted that this sale will “eliminate potential conflicts of interest between NHI and NHC.” Closing of the transaction is expected on July 1, subject to customary closing conditions. NHI expects to incur transaction costs between $6 million and $8 million. Blueprint Healthcare Real Estate Advisors is serving as the transaction advisor for NHI. Houlihan Lokey Capital is acting as financial advisor to a special committee of non-interested directors that was appointed to review the sale, and Venable LLP is serving as the committee’s …
