Tuesday, November 10, 2026
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620-Avenue-of-the-Americas
New YorkNortheastOfficeRetail

RXR Recapitalizes 500,000 SF Office, Retail Building in Manhattan

by Taylor Williams

NEW YORK CITY — RXR has recapitalized 620 Avenue of the Americas, a 500,000-square-foot office and retail building in Manhattan’s Chelsea neighborhood, via a new partnership with global investment management firm Hudson Bay Capital Management. The building, which was originally constructed in 1896, is home to tenants such as footwear provider Cole Haan and labor union SEIU Local 32BJ. The partnership has also secured a five-year, $320 million loan facility to fund the repositioning of the property.  Additional terms of the transaction were not disclosed.

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13201-Dahlia-St-Fontana-CA
AcquisitionsCaliforniaIndustrialWestern

Rexford Industrial Buys Fully Leased Industrial Building in Fontana, California for $70.1M

by Amy Works

FONTANA, CALIF. — Rexford Industrial has acquired an industrial property, located at 13201 Dahlia St. in Fontana, from an undisclosed seller for $70.1 million. Constructed in 1989, the cross-dock industrial facility features 30-foot clear heights, 59 dock-high door and four grade-level doors. At the time of sale, the 278,650-square-foot building was fully leased to a credit tenant. Mark Detmer, Patrick Nally, Evan Moran, Mike McCrary, Jeff Bellitti, Ruben Goodsell and Hunter McDonald of JLL handled the transaction.

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Danville-Livery-Danville-CA.jpg
CaliforniaLoansOfficeRetailWestern

PSRS Secures Refinancing for Two Adjacent Office and Retail Properties in Danville, California

by Amy Works

DANVILLE, CALIF. — PSRS has arranged $14 million and $4.5 million in refinancing for two adjacent properties at Danville Livery in Danville. The properties offer more than 123,000 square feet of retail and office space. The retail and service-oriented office space offers a mix of tenants, including eateries, home goods, salons, real estate offices and title services. James Mulvihill and Kevin Mulvihill of PSRS secured the undisclosed borrower with a separate loan for each property, both of which are underwritten with interest-only payments. The non-recourse loans were provided by correspondent life insurance companies.

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AcquisitionsColoradoRetailWestern

Pinnacle Real Estate Negotiates Sale of 19,622 SF Shopping Center in Thornton, Colorado

by Amy Works

THORNTON, COLO. — Pinnacle Real Estate Advisors has directed the sale of Shops at Highpointe Park in Thornton. A Colorado-based private investor sold the asset to a Pennsylvania-based institutional investor for $6.3 million. Located at 9740 and 9760 Grant St., Shops at Highpointe Park consists of two adjacent retail strip centers built in 2008 and totaling 19,622 square feet. Justin Krieger represented the seller and procured the buyer in the deal.

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AcquisitionsArizonaMultifamilyWestern

Cushman & Wakefield | PICOR Brokers Sale of 20-Unit Apartment Complex in Tucson

by Amy Works

TUCSON, ARIZ. — Cushman & Wakefield | PICOR has arranged the sale of Wildflower Apartments, a multifamily property in Tucson. An entity doing business as Wildflower Apts LLC acquired the asset from Aim Higher Properties LLC for $2.5 million. Located at 2850 N. Alvernon Way, Wildflower features 28 apartments. Allan Mendelsberg and Joey Martinez of Cushman & Wakefield | PICOR represented the buyer and seller in the deal.

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LoansMultifamilyNortheastPennsylvaniaStudent Housing

BridgeInvest Provides $54.3M Loan for Refinancing of Philadelphia Student Housing Property

by Taylor Williams

PHILADELPHIA — BridgeInvest has provided a $54.3 million loan for the refinancing of The Avery, a 796-bed student housing property in Philadelphia. The Avery, which serves students at Temple University, features one- and two-bedroom units and amenities such as a fitness center, community kitchen, lounge areas, game rooms and study spaces. The property also houses 5,900 square feet of ground-floor retail space. The undisclosed sponsor acquired The Avery in 2021 and implemented capital improvements and rebranded it from The Edge.

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HealthcareLoansNew JerseyNortheastRetail

G.S. Wilcox Arranges $26.2M Loan for Refinancing of Northern New Jersey Retail, Healthcare Property

by Taylor Williams

HOBOKEN, N.J. — Locally based intermediary G.S. Wilcox & Co. has arranged a $5.4 million loan for the refinancing of a 48,268-square-foot retail and healthcare property in the Northern New Jersey community of Hoboken. The property was fully leased at the time of the loan closing to a pharmacy, bank and a primary care provider. David Fryer of G.S. Wilcox arranged the loan, which carried a seven-year term with full-term interest-only payments, through an undisclosed life insurance company. The name of the borrower was also not disclosed.

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LoansNew YorkNortheastOffice

Cushman & Wakefield Places $24M Acquisition Loan for Manhattan Office Building

by Taylor Williams

NEW YORK CITY — Cushman & Wakefield has placed a $24 million acquisition loan for The Plant, a 246,343-square-foot office building located at 321 W. 44th St. in Midtown Manhattan. The building was 56 percent leased at the time of the loan closing to tenants such as Broadway Dance Center, TagWall, AKA NYC Limited, Sony Records and Sunlight Studios. Chase Johnson and Caleb Riebe of Cushman & Wakefield originated the debt through an undisclosed life insurance company. The name of the borrower was also not disclosed.

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AcquisitionsConnecticutMultifamilyNortheast

IPA Negotiates Sale of 99-Unit Multifamily Property in Shelton, Connecticut

by Taylor Williams

SHELTON, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Huntington Townhomes, a 99-unit multifamily property in Shelton, located in southern coastal Connecticut. Built on seven acres in 2008, the property features 86 townhomes and 13 two- and three-bedroom apartments with an average size of 1,414 square feet. Amenities include a pool, fitness center and outdoor grilling and dining stations. Victor Nolletti, Eric Pentore, Wes Klockner and Ross Friedel of IPA represented the seller, Inland Private Capital Corp., and the buyer, Beachwold Residential, in the transaction.

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FeaturesHeartland Feature ArchiveRetail

Brokers Await Uptick in Net Lease Retail Sales

by Kristin Harlow

Amid a slump in investment sales volume, investors eagerly welcomed the Federal Reserve’s interest rate cut in September. The half-percentage point decrease was more than what many in the industry had anticipated, but Fed Chairman Jerome Powell recently indicated that additional rate cuts this year will likely not be as aggressive. The move by the Fed came after a spike in the federal funds rate from near zero in March 2022 to a range of 5.25 to 5.5 percent in July 2023 — a period during which the central bank raised the federal funds rate 11 times.  Ultimately, the higher interest rate environment has led to a major slowdown in the sales volume of net lease properties this year, says Randy Blankstein, president of The Boulder Group based in Wilmette, Illinois. “Transaction volume is down approximately 60 percent from 2022 levels,” he says. In a net lease transaction, the tenant pays a portion or all of the taxes, insurance fees and maintenance costs for a property in addition to rent. For the 12-month period that ended in June, net lease investment volume across property types decreased by 34 percent from the same period a year ago to $35.4 billion, according …

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