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Gantry-Apts-Property-Albany-OR
LoansMultifamilyOregonWestern

Gantry Arranges $40.5M Loan for Multifamily Community in Albany, Oregon

by Amy Works

ALBANY, ORE. — Gantry has arranged a $40.5 million permanent loan to retire construction financing for a multifamily property in Albany, approximately midway between Salem and Eugene. The recently completed, stabilized, Class A property features 264 apartments in a mix of one-, two- and three-bedroom floor plans spread across 23 buildings on 17 acres. Community amenities include a clubhouse, pool, therapeutic hot tub, sauna, 24/7 fitness center, theater room, sports court, playground and off-leash dog park. Blake Hering and Crischell Bacarro represented the borrower, a private real estate investor. Fannie Mae, via Walker & Dunlop, provided the five-year, interest-only, fixed-rate loan.

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AcquisitionsLife SciencesMidwestOhio

IRA Capital Acquires 237,000 SF Life Sciences Campus in Columbus, Ohio

by Kristin Harlow

COLUMBUS, OHIO — IRA Capital has acquired a 237,000-square-foot life sciences campus consisting of four buildings in the Easton submarket of Columbus. The purchase price was undisclosed. The property is near I-270, the John Glenn Columbus International Airport and across from Easton Town Center, the 1.7 million-square-foot retail destination. The buildings are mostly leased to biopharmaceutical company Sarepta Therapeutics and houses the company’s Gene Therapies Center of Excellence. Sarepta specializes in genetic medicines for rare diseases and has four FDA-approved drugs treating Duchenne Muscular Dystrophy. IRA closed the acquisition on an all-cash basis.

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IndustrialLeasing ActivityNortheastPennsylvania

Roddy Inc. Negotiates 20,160 SF Industrial Lease in Langhorne, Pennsylvania

by Taylor Williams

LANGHORNE, PA. — Locally based brokerage firm Roddy Inc. has negotiated a 20,160-square-foot industrial lease at 181 Wheeler Court in Langhorne, a northeastern suburb of Philadelphia. The 100,055-square-foot building sits on 7.4 acres near I-95, the Pennsylvania Turnpike and the New Jersey Turnpike. Sean Durkin of Roddy Inc. represented the tenant, Vintage Imports, in the lease negotiations. Andrew McGhee of Colliers represented the landlord, an affiliate of Los Angeles-based Ares Management Corp.

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AcquisitionsIllinoisMidwestRetail

Mid-America Negotiates Sale of 116,941 SF Marketplace at Six Corners Shopping Center in Chicago

by Kristin Harlow

CHICAGO — Mid-America Real Estate Corp. has negotiated the sale of Marketplace at Six Corners, a 116,941-square-foot shopping center in Chicago. Newmark Merrill purchased the asset for an undisclosed price. Anchor tenants include Jewel-Osco, Marshalls, PetSmart and Famous Footwear. Rick Drogosz of Mid-America represented the seller, IRC Retail Centers/DRA Advisors. The property was managed by Pine Tree.

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AcquisitionsMidwestMinnesotaMultifamily

CBRE Brokers Sale of Granite Shores Multifamily Property in Suburban Minneapolis for $12.6M

by Kristin Harlow

ELK RIVER, MINN. — CBRE has brokered the sale of Granite Shores in the Minneapolis suburb of Elk River for $12.6 million. The 67-unit multifamily property is located at 633 Main St. NW. The asset was originally built as condominiums in 2008 and later converted into a rental property in 2011. Granite Shores features one- and two-bedroom floor plans averaging 996 square feet and an additional 9,803 square feet of ground-floor commercial space. Amenities include a fitness center, pet washing station, community room and outdoor deck. Keith Collins, Ted Abramson, Abe Appert and Drew Rafshol of CBRE represented the seller, Granite Shores LLC. Gary Hegenes was the buyer.

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The-Marlette-Carson-City-NV
LoansMultifamilyNevadaWestern

Dwight Mortgage Funds $30.2M Bridge Loan for The Marlette Apartment Complex in Carson City, Nevada

by Amy Works

CARSON CITY, NEV. — Dwight Mortgage Trust, an affiliate REIT of Dwight Capital, has closed a $30.2 million bridge refinance for The Marlette, a garden-style multifamily community in Carson City, south of Reno along Lake Tahoe. Fident Capital brokered this transaction on behalf of the borrower, Kingsbarns Realty Capital. Completed in 2023, The Marlette features 140 apartments spread across 10 two-story buildings on six acres. Community amenities include a clubhouse, pool, spa, fitness center, dog park, pet spa, community park and grilling stations. The loan proceeds will be used to refinance existing debt, cover final construction costs and fund an operating reserve to facilitate lease-up.

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Leasing ActivityNew YorkNortheastOffice

Newmark Arranges 11,232 SF Office Lease in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — Newmark has arranged an 11,232-square-foot office lease at 461 Fifth Avenue in Midtown Manhattan. Designed by Skidmore, Owings & Merrill and completed in 1988, the building rises 28 stories and totals roughly 200,000 square feet. The lease term is 10 years, and the space spans the entire sixth floor. Brian Waterman, Scott Klau, David Waterman and Kevin Sullivan of Newmark represented the landlord, SL Green, in the lease negotiations. Ron LoRusso, Harley Dalton and Samantha Perlman of Cushman & Wakefield represented the tenant, investment management firm Lingotto US.

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DevelopmentIndustrialMidwestOhio

Alston Construction Completes Three-Building Columbus Castings Industrial Redevelopment in Ohio

by Kristin Harlow

COLUMBUS, OHIO — Alston Construction has completed Castings Commerce Park, a three-building speculative industrial park developed on the site of the former Columbus Castings steel foundry. The project team included developer and owner Stonemont Financial and architect and interior designer Ware Malcomb. The project totals 862,000 square feet with 171 loading positions. The 71-acre site once served as the largest steel foundry in North America, according to Ware Malcomb, which designed office uses into each of the buildings.

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1111-Sixth-Ave-San-Diego-CA
AcquisitionsCaliforniaMixed-UseOfficeWestern

Coworking Company Sells 70,602 SF Mixed-Use Building in San Diego for $7.8M

by Amy Works

SAN DIEGO — Marcus & Millichap has arranged the sale of The Arte Building, a mixed-use property in San Diego. Salwan Komo acquired the property from 1111 6th Ave LLC for $7.8 million. The seller operated its coworking business, Expansive, at the 70,602-square-foot building. At the time of sale, Expansive leased back approximately 35,000 square feet, resulting in the property being 80 percent occupied. Ross Sanchez and Nick Totah of Marcus & Millichap’s San Diego downtown office represented the seller and procured the buyer in the transaction. Located at 1111 Sixth Ave., The Arte Building was built in 1913 and extensively renovated in 2017. Amenities at the property include subterranean parking, a rooftop lounge, indoor lounge areas, conference rooms, phone booths and a game room.

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1005-1017-W-14th-Ave-Denver-CO
AcquisitionsColoradoMultifamilyWestern

Kaufman Hagan Commercial Real Estate Brokers $2.8M Sale of Multifamily Building in Denver

by Amy Works

DENVER — Kaufman Hagan Commercial Real Estate has arranged the sale of a townhome-style apartment building, located at 1005-1017 W. 14th Ave. in downtown Denver. The property traded for $2.8 million, or $350,000 per unit. The 15,033-square-foot building offers eight apartments. Brandon Kaufman of Kaufman Hagan Commercial Real Estate represented the undisclosed seller and buyer in the deal.

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