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.
PASSAIC, N.J. — Locally based brokerage firm Gebroe-Hammer Associates has negotiated the $4.5 million sale of a 23-unit apartment complex located in the Northern New Jersey community of Passaic. The four-story building at 82 Paulison Ave. was constructed in the early 20th century and exclusively houses one-bedroom units. Debbie Pomerantz of Gebroe-Hammer represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
MAYNARD, MASS. — Alaka’i Technologies, a locally based provider of air mobility systems, has signed an 18,473-square-foot office lease in Maynard, a western suburb of Boston. Trevor Holmes and Garrett Quinn of SVN | Parsons Commercial Group | Boston represented the tenant, which is taking space at the 1.1 million-square-foot Mill & Main complex, in the lease negotiations. James Tambone of Lincoln Property Co. represented the landlord, an entity doing business as AS Clocktower LLC.
LOS ANGELES — CIM Group has broken ground on a 168-unit mixed-income multifamily development with 40,000 square feet of ground-floor retail space in Los Angeles. The project at 3045 Crenshaw Blvd. is located on the former north campus of the West Angeles Church of God in Christ. The six-story apartment community will offer 17 affordable housing units. Floor plans will consist of studios, one- and two-bedroom units. Amenities will include a courtyard, pool, fitness center, clubroom and two outdoor sky decks on the fifth level. The development offers convenient access to the Metro E Line light rail station on Crenshaw Boulevard, which connects east to downtown Los Angeles and west to Santa Monica. After 43 years at its north campus location, West Angeles Church has consolidated its facilities and now operates from its south campus location at 3600 Crenshaw Blvd. West Angeles Church’s sale of the property at 3045 Crenshaw Blvd. to CIM Group took place in March and was part of the church’s long-planned property dispositions announced in 2019 to bring new community-serving developments to the neighborhood. The church used the sale proceeds to fund various church programs and initiatives, including the construction of a Family Life Center that …
WASHINGTON, D.C. — The District of Columbia Housing Finance Agency (DCHFA) has provided $63.2 million in tax-exempt bonds for the rehabilitation of Worthington Woods Apartments in the Washington Highlands neighborhood of Washington, D.C. Originally built in 1944 and renovated in 2002, the property comprises 394 affordable housing apartments. The Worthington Woods Tenants Association acquired the building and selected Montgomery Housing Partnership Inc. and the Anacostia Economic Development Corp. to oversee the $133.6 million overhaul. The DCHFA also underwrote $45.5 million and $9.1 million in federal and local Low Income Housing Tax Credit (LIHTC) equity for the preservation of the affordable apartments. Additionally, the D.C. Department of Housing and Community Development is providing a $38.8 million loan from the Section 108 Loan Guarantee Program for this project. Following the redevelopment, Worthington Woods will feature units in one-, two- and three-bedroom layouts reserved for residents earning 30, 50 and 60 percent of the area median income (AMI). Amenities will include a playground, community room, laundry facilities, onsite tenant services and 156 parking spaces. Communities Together Inc. will provide resident services to tenants.
