Property Type

FAIRVIEW HEIGHTS, ILL. — Locally based brokerage firm Barber Murphy has arranged the sale of 36 acres of land in Fairview Heights near St. Louis. The property at 5628 Old Collinsville Road will continue to operate as a golf and sports facility. Barber Murphy represented both the seller, Judefam Sports LLC, and the buyer, O’Fallon Sports 115 LLC.  

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CLARKSTON, MICH. — The Back Nine, a golf simulator tenant, has signed a 3,215-square-foot retail lease at White Lake Commons in Clarkston, a northern suburb of Detroit. Anchored by Neiman’s Market, White Lake Commons is located at the southeast corner of Dixie Highway and White Lake Road. Michael Murphy of Gerdom Realty & Investment negotiated the lease.

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PASADENA, CALIF. — On behalf of Welcome Group Inc., R.D. Olson Construction has completed the development of AC Hotel Pasadena located at 19 S. Madison Ave. in Pasadena. Completed in 21 months, the 100,000-square-foot AC Hotel Pasadena features 194 guest rooms and a bar and cafe serviced by an onsite kitchen. The project also includes 5,000 square feet of leasable space on the first floor along with an event space for planned gatherings. The project team for the $60 million hotel included AXIS, Saiful Bouquet and Wild Muse (formerly known as Design Force).

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PORTLAND, ORE. — AEW Capital Management has completed the disposition of Machine Works, a Class A mixed-use asset in Portland. Melvin Mark Investors and Orion Investment Partners acquired the property for an undisclosed price. Located at 1414 NW Northrup St. in Portland’s Pearl District, the nine-story property offers 115,138 square feet of retail and office space, as well as three levels of parking. Built in 2009, the property is fully leased to a variety of tenants in the engineering, medical, government services and fitness industries, with LA Fitness occupying space on the ground floor. Buzz Ellis, Mark Katz, Zach Kersten and David Williams of JLL Capital Markets Investment Sales and Advisory team represented the seller and procured the buyer in the deal.

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COVINA, CALIF. — Lee & Associates has negotiated the sale of Arrow Grand Business Park, an industrial property at 753-759 Arrow Grand Circle in Covina. CTT Tools Inc. sold the asset to 2Trees LLC for $20.8 million, or $290.52 per square foot. The 71,762-square-foot property offers 10,000 square feet of office space. Nathan Lara and Jack Nersesian of Daum listed the property, while Justin Chiang and Kevin Ching of Lee & Associates served as procuring agents for the transaction.

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The104-Apts-Bothell-WA

BOTHELL, WASH. — JLL Capital Markets has arranged a $19 million loan for MainStreet Property Group for the refinancing of The 104, an urban-style multifamily community in Bothell. Seth Heikkila and Bill Maloney of JLL Capital Markets Debt Advisory team secured the five-year, fixed-rate loan through Fannie Mae. JLL Real Estate Capital LLC will serve the loan. The 104 features 115 traditional and open one- and two-bedroom floor plans, averaging 773 square feet, with stainless steel appliances, walk-in closets and exposed concrete details. Community amenities include a lounge with kitchen, a community courtyard, bike storage and valet trash service. The property is located at 18414 104th Ave. NE.

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5350-Newport-St-Commerce-City-CO

COMMERCE CITY, COLO. — Industrial Outdoor Ventures (IOV) has completed its 11th acquisition in the Denver area with the purchase of 5350 Newport Street, a 5-acre property with more than 27,000 square feet of warehouse and office space. Terms of the transaction were not released. Ferguson Fire and Fabrication occupies the site to manufacture and store commercial sprinkler parts and systems. Ferguson has occupied the property for more than 20 years.

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Wood-Partners-Hutto

HUTTO, TEXAS — A partnership between Atlanta-based developer Wood Partners and ParkProperty Capital (PPC) has broken ground on a 336-unit multifamily project in Hutto, approximately 30 miles north of Austin. Located off of Ed Schmidt Boulevard, the community will comprise 10 three-story buildings. Amenities will include a fitness center, a business lounge, private offices, clubroom with a coffee station, pool and a fenced dog park. Additionally, in collaboration with City of Hutto officials, the development will feature two pickleball courts, parkland with a walking trail and an 18-hole disc golf course that will also be available for public use. Completion is slated for the third quarter of 2026.

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SAGINAW, TEXAS — A partnership between Chicago-based investment firm Pearlmark and Dallas-based Falcon Commercial Development will develop a 321,193-square-foot industrial project in Saginaw, a northern suburb of Fort Worth. Saginaw Distribution Center will feature 32-foot clear heights, 130-foot truck court depths, speculative office space and an ESFR sprinkler system. Will Mogk of JLL arranged an undisclosed amount of construction financing for the project through First United Bank. Dustin Volz, Stephen Bailey, Dom Espinosa, Zach Riebe and Chloie Mercer of Newmark structured the equity placement on behalf of the partnership, which has tapped NAI Robert Lynn to lease the property. A tentative completion date was not announced.

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DESOTO, TEXAS — A partnership between boutique multifamily investment firm RSN Property Group and Monday Properties, which has three East Coast offices, has acquired Ventura Landings, a 226-unit apartment complex located in the southern Dallas suburb of DeSoto. The newly renovated property offers one- and two-bedroom units and amenities such as a pool, clubhouse, basketball court and onsite laundry facilities. The new ownership plans to implement additional capital improvements and has already rebranded the property as Eagle Creek Landing. The seller and sales price were not disclosed.

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