MIDVALE, UTAH — Peak Capital Partners has purchased Park Station from Benedict Canyon Equities for an undisclosed price. Park Station is a 96-unit apartment community in Midvale, 12 miles south of downtown Salt Lake City. The property was constructed in 1974 and offers one- and two-bedroom floor plans. Amenities include a children’s playground, laundry facilities and covered parking. Brock Zylstra and Danny Shin of Institutional Property Advisors represented the seller and procured the buyer.
SAN DIEGO — Fruit juice concept Sip Fresh has entered a three-unit franchise agreement with operator Kevin Tam for locations in metro San Diego. The deal includes the acquisition of an existing store located in the Westfield UTC Mall and plans for two additional locations in the area. Tam’s previous experience includes concepts Wetzel’s Pretzels and Sweetgreen, as well as other quick-service restaurant brands and food trucks. Sip Fresh plans to sign 35 new franchise agreements by the end of the year.
INDIANAPOLIS — Northmarq has brokered the sale of the Clearwater Springs shopping center in Indianapolis for an undisclosed price. The 132,156-square-foot shopping center is located at 5151 E. 82nd St. Anchor tenants include Aldi, Haverty’s Furniture and Michaels. Additional retailers include Starbucks, Athletico, David’s Bridal and AT&T. Blaise Bennett of Northmarq represented the buyer, a Cincinnati-based private equity firm. Wes Podell of Podell Partners represented the undisclosed seller.
CHICAGO — Owner Accesso has secured nearly 60,000 square feet of office leases at Monroe Plaza in Chicago. Signing new leases were JFMC Facilities Corp., the real estate arm of the Jewish Federation of Metropolitan Chicago, and PartsTrader, a cloud-based parts procurement platform for the collision repair industry. Signing renewals were Great American Insurance Group, Intersect Illinois, Rex Electric and EFG Group LLC. Mason Taylor, Karoline Eigel and Paige Krueger of Cushman & Wakefield represented Accesso in the leases.
EVANSTON, ILL. — Quantum Real Estate Advisors Inc. has arranged the sale of Church Street Plaza in Evanston for an undisclosed price. The 9,589-square-foot retail center is located on Church Street and his home to Semper Laser, Pure Barre, Noodles & Co., CycleBar and Big Wig Tacos. Dan Waszak and Zack Hilgendorf of Quantum represented the seller, GW Properties. The buyer was SW Neighborhood Centers II, an affiliate of Shannon Waltchack, an Alabama-based commercial real estate investment firm.
NORTHWOOD, IOWA — Marcus & Millichap has negotiated the sale of the Holiday Inn Express & Suites Northwood, a 60-room hotel in Northwood, a city in northern Iowa. The sales price was undisclosed. The property is located at 4712 Wheelerwood Road. Jon Ruzicka, Jake Erickson, Jared Plamann and Joseph Ferguson of Marcus & Millichap represented the undisclosed seller. The hotel sold to an out-of-state buyer.
LEXINGTON, MICH. — Dominion Real Estate Advisors LLC has brokered the sale of a 51,329-square-foot industrial building in Lexington, a city in eastern Michigan along Lake Huron. The sales price was undisclosed. The property is located at 5160 Lakeshore Drive. Rem Murray of Dominion represented the undisclosed seller. David Wax of Burger & Co. represented the buyer, an entity doing business as KCRE LLC.
WEST WINDSOR, N.J. — New Jersey-based developer Woodmont Properties has completed the lease-up of Woodmont Way, a 443-unit apartment community in West Windsor, located outside of Trenton in Mercer County. The property offers one-, two- and three-bedroom units and amenities such as a pool, fitness center, pickleball and bocce ball courts, a golf simulator, theater room, game room and a dog park. Woodmont Way is now fully occupied. Information on starting rents was not disclosed.
SPRINGFIELD, MASS. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $24 million loan for the refinancing of Marriott Springfield Downtown, a 266-room hotel that overlooks the Connecticut River in western Massachusetts. Robert Damigella of MMCC originated the five-year loan, which was structured with an interest rate of 6.25 percent, 25-year amortization schedule and a 47 percent loan-to-value ratio. The borrower and direct lender were not disclosed.
TRENTON, N.J. — Locally based firm Hx2 Development is underway on construction of a 100,000-square-foot life sciences project in Trenton’s Chambersburg neighborhood. The transit-served facility, which is known as Building 114, will be located within Roebling Center, a five-building, 7.1-acre mixed-use redevelopment. Shell construction of the building is expected to be complete by the end of the year. JLL has been appointed as the leasing agent.
