Monday, July 14, 2025
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Build-to-RentDevelopmentMidwestNebraskaSingle-Family Rental

Stark Enterprises Breaks Ground on 244-Unit Build-to-Rent Community in Gretna, Nebraska

by Kristin Harlow

GRETNA, NEB. — Stark Enterprises, in partnership with Stark Living and Arbor Construction, has received construction financing for its latest build-to-rent development, Teal Ridge Village in Gretna near Omaha. Stark Enterprises will now break ground on the project, which will include 244 homes on a 43.7-acre site. Amenities will include a fitness center, clubhouse, pool, dog park, playground, sports simulator and bocce court. The property will be operated by Stark Living, the residential management arm of Stark Enterprises. Stark’s construction arm, Arbor Construction, is slated to complete the project in summer 2027. Stark has now expanded into its ninth state overall and third state within its build-to-rent platform.

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IndustrialLeasing ActivityMidwestNorth Dakota

CBRE Negotiates 199,600 SF Industrial Lease at Dakota Commerce Center in Fargo

by Kristin Harlow

FARGO, N.D. — CBRE has negotiated a 199,600-square-foot industrial lease at Dakota Commerce Center, a 633,200-square-foot development in Fargo. An undisclosed tenant will fully occupy Building 3. Chance Lindsey and Kyle Ferderer of CBRE represented the owner and development partners, Hyde Development and Gremada Industries. The industrial park is now fully leased. Construction on the Class A, four-building development began in 2021, with Building 1 delivered in 2022. Buildings 2 and 3 were completed in 2023 and 2024, respectively. Building 4 is currently under construction and slated for completion this fall.

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AcquisitionsIllinoisMidwestRetail

Barber Murphy Arranges 36-Acre Land Sale in Fairview Heights, Illinois

by Kristin Harlow

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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Leasing ActivityMichiganMidwestRetail

The Back Nine Signs 3,215 SF Retail Lease at White Lake Commons in Clarkston, Michigan

by Kristin Harlow

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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AC-Hotel-Pasadena-CA.jpg
CaliforniaDevelopmentHospitalityWestern

R.D. Olson Construction Completes 194-Room AC Hotel Pasadena in California

by Amy Works

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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Machine-Works-Portland-OR
AcquisitionsOfficeOregonRetailWestern

AEW Capital Management Disposes of Machine Works Mixed-Use Property in Portland

by Amy Works

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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AcquisitionsCaliforniaIndustrialLee & AssociatesWestern

Lee & Associates Brokers $20.8M Sale of Arrow Grand Business Park in Covina, California

by Amy Works

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
LoansMultifamilyWashingtonWestern

JLL Arranges $19M in Refinancing for 115-Unit Apartment Community in Bothell, Washington

by Amy Works

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
AcquisitionsColoradoIndustrialWestern

IOV Acquires Equipment Maintenance Facility in Commerce City, Colorado

by Amy Works

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
DevelopmentMultifamilyTexas

Partnership Breaks Ground on 336-Unit Multifamily Project Near Austin

by Taylor Williams

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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