Property Type

29th Street Capital, Willton Investment Acquire 311-Unit Multifamily Community in Metro D.C.

by John Nelson April 28, 2025

SILVER SPRING, MD. — A partnership between Chicago-based 29th Street Capital (29SC) and Willton Investment Management has acquired Fenwick Apartments, a 311-unit multifamily community located in the Washington, D.C. suburb of Silver Spring, three blocks from the Silver Spring Transit Station. Upon completion of the Metro’s Purple Line in 2027, the complex will offer direct access to the I-270 Tech Corridor. Originally built in 2014, Fenwick Apartments — which was 96.8 percent occupied at the time of sale — comprises studio, one- and two-bedroom floorplans ranging in size from 529 square feet to 1,017 square feet, according to Apartments.com. The property is LEED Gold-certified and includes amenities such as a resort-style pool, fitness center, business center and a rooftop lounge with a vertical garden. The partnership plans to renovate the property, with enhancements to the common and amenity areas. 29th Street Living, the in-house property management branch of 29SC, will oversee day-to-day operations at Fenwick.

April 28, 2025

Acquisitions Connecticut Multifamily Northeast

Chozick Realty Negotiates $8.5M Sale of Apartment Building in Meriden, Connecticut

by Taylor Williams April 28, 2025

MERIDEN, CONN. — Locally based brokerage firm Chozick Realty has negotiated the $8.5 million sale of a 71-unit apartment building in Meriden, located roughly midway between Hartford and New Haven. The building at 32 Cook Ave. houses 10 studios, 27 one-bedroom units, 30 two-bedroom residences and four three-bedroom apartments. Unit interiors and building systems at the property, which was fully occupied at the time of sale, have also been upgraded in recent years. Steve Pappas of Chozick Realty represented the undisclosed seller in the transaction. The buyer was not disclosed.

April 28, 2025

Acquisitions New York Northeast Office Retail

Marcus & Millichap Brokers $4.2M Sale of Office, Retail Building in Queens

by Taylor Williams April 28, 2025

NEW YORK CITY — Marcus & Millichap has brokered the $4.2 million sale of a 3,360-square-foot office and retail building in the Astoria area of Queens. The two-story building at 30-23 30th Ave. comprises five retail spaces and two office suites. Matt Fotis, Lazarus Apostolidis and Hunter Barocas of Marcus & Millichap represented the seller in the transaction. Fotis and Apostolidis also procured the buyer. Both parties requested anonymity. Steve Filippo with Marcus & Millichap Capital Corp. arranged acquisition financing for the deal.

April 28, 2025

Leasing Activity New York Northeast Office

Nationwide Mortgage Bankers Signs 28,552 SF Office Lease in Melville, New York

by Taylor Williams April 28, 2025

MELVILLE, N.Y. — Nationwide Mortgage Bankers has signed a 28,552-square-foot office lease in the Long Island community of Melville. The provider of home financing solutions is taking space at the 165,000-square-foot building at 1305 Walt Whitman Road. Joseph Lopresti of JLL represented the tenant in the lease negotiations. Andrew Wiener and Tim Parlante represented the landlord, The Feil Organization, on an internal basis.

April 28, 2025

Acquisitions Industrial South Carolina Southeast

Atlanta Property Group Buys 173,000 SF Distribution Center in Greenville

by John Nelson April 28, 2025

GREENVILLE, S.C. — Atlanta Property Group (APG) has purchased 6 Shelter Drive, a 173,000-square-foot industrial facility located in Greenville. Situated adjacent to I-85 off the Pelham Road exit, the facility is one of the few infill locations in the area. Constructed in 2004, the property features tilt walls, 32-foot clear heights, 140-foot truck court depths and an ESFR sprinkler system. The building is currently fully leased. The seller and sales price were not disclosed. APG has acquired 15 industrial buildings since 2022 and plans to invest $100 million of equity into existing distribution centers across the Southeast.

April 28, 2025

Acquisitions Loans Multifamily North Carolina Southeast

Berkadia Provides $18.4M Acquisition Loan for Multifamily Community in Hickory, North Carolina

by John Nelson April 28, 2025

HICKORY, N.C. — Berkadia has provided an $18.4 million bridge loan for the acquisition of Hawks Landing, a 144-unit, garden-style multifamily community located in Hickory. Brian Gould, Miles Drinkwalter and Pat Cunningham of Berkadia’s D.C. Metro team secured financing through Berkadia’s Proprietary Lending Group (PLG) on behalf of the buyers, Maryland-based Klein Enterprises and RM Communities. Constructed in 2018, Hawks Landing is situated at 2778 2nd East St. near Frye Regional Medical Center. The multifamily community offers one-, two- and three-bedroom floorplans ranging in size from 746 square feet to 1,173 square feet, according to Apartments.com. Amenities at the property include a swimming pool, poolside sun deck with ample seating, outdoor grilling area, fully equipped fitness center, fenced pet park, clubhouse and a business center.

April 28, 2025

Florida Leasing Activity Office Southeast

Cushman & Wakefield Arranges 33,827 SF Office Lease for MSC Cruises in Fort Lauderdale

by John Nelson April 28, 2025

FORT LAUDERDALE, FLA. — Cushman & Wakefield has arranged a 33,827-square-foot lease for MSC Cruises USA, the North American arm of the Geneva, Switzerland-based international cruise line, at BayView Corporate Tower in Fort Lauderdale. MSC Cruises USA will expand its office by 15,000 square feet, using the sixth floor of the tower to house its finance, outbound sales, IT and human resource teams. The lease will expand the company’s presence in South Florida ahead of the opening of its North American Cruise Division Headquarters in downtown Miami’s Sawyer’s Walk development. Deanna Lobinsky and Chase Kulp of Cushman & Wakefield represented the landlord, Somerset Properties, and its equity partners, while Alan Kleber, Tyler Reynolds and Scott Quick of Cushman & Wakefield represented MSC Cruises USA. Situated at 6451 North Federal Highway, BayView Corporate Tower was originally built in 1973 and renovated in 2019. Amenities at the property — which totals 413,000 square feet — feature a conference facility, gym, café/lounge, gift shop and a five-story covered parking garage.

April 28, 2025

California Loans Mixed-Use Multifamily Restaurant Retail Western

Dwight Mortgage Provides $48M Construction Loan for Multifamily Project in San Diego

by Amy Works April 28, 2025

SAN DIEGO — Dwight Mortgage Trust, an affiliate REIT of Dwight Capital, has provided a $48 million construction loan for GH 25, a planned multifamily development in San Diego. CAST Development is the borrower and project developer. The loan will be used alongside sponsor equity to fund construction, establish an interest reserve and cover transaction costs for the borrower. The eight-story project will offer 114 studio, one- and two-bedroom apartments with ceiling heights up to 10 feet, floor-to-ceiling glass windows and private balconies. Onsite amenities will include a seventh-floor amenity terrace with a plunge pool, fire pits, barbecues and lounge areas. GH 25 will also feature 3,250 square feet of ground-floor retail space and commercial space anchored by a restaurant and wine bar concept. TFWA Architects is serving as architect for the project.

April 28, 2025

California Industrial Leasing Activity Western

Lionext Leases 106,110 SF Distribution Facility in Santa Fe Springs, California

by Amy Works April 28, 2025

SANTA FE SPRINGS, CALIF. — Lionext Inc. has signed a deal to occupy a 106,110-square-foot distribution facility in Santa Fe Springs. The 10-year lease is valued at $22 million. Ryan Campbell of NAI Capital Commercial represented the tenant, while Joel Hutak and Phillip De Rousse of Lee & Associates represented the landlord, Kekropia Inc., in the deal. Located at 11650 Burke St., the Class A facility offers a clear height of 32 feet at the first column, 16 dock-high positions, two grade-level doors, approximately 7,000 square feet of office space and a large fenced yard with drive-around truck access. Built in 2011, the building also features ESFR sprinklers, 2.5 percent skylights, 50-foot by 52-foot column spacing and a 200-foot shared concrete truck court. Additionally, the asset is located near 605 Freeway.

April 28, 2025

California Development Restaurant Retail Western

ALMQUIST to Open 20,000 SF Culinary Food Hall in Whittier, California

by Amy Works April 28, 2025

WHITTIER, CALIF. — San Juan Capistrano, Calif.-based ALMQUIST will open Rodeo 72, a 20,000-square-foot food hall in Whittier. The food hall is being created in a building that once housed a juvenile correctional facility. Rodeo 72 will contain 15 food-and-beverage concepts, a bar and a community-driven space for live music, local art and pop-up events. Additionally, tattoo studio Grailed Galley will also open inside Rodeo 72. The food hall is scheduled to open Saturday, May 3. ALMQUIST has also developed Rodeo 39 Public Market in Stanton, Calif., and Rodeo at River Street in San Juan Capistrano.

April 28, 2025

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