Property Type

CBRE Arranges $29M Sale of Medical Office Building in Long Beach, California

by Jeff Shaw May 16, 2023

LONG BEACH, CALIF. — A private buyer has purchased a 68,845-square-foot medical office building in Long Beach for $29 million. The four-story building is located at 701 E. 28th St., across the street from MemorialCare Long Beach Medical Center. The Children’s Clinic Family Health, a nonprofit 501(c)(3) health center, occupies about 27 percent of the building. There are 14 other tenants providing various clinical medical services, including general medicine, urgent care, obstetrics/gynecology, urology, neurology, on-site surgery and imaging. CBRE’s Michael Longo, Mark Shaffer, Todd Tydlaska and Sean Sullivan, Anthony Delorenzo represented the seller, Jamison Properties, in the transaction.

May 16, 2023

Acquisitions Arizona Office Western

Commercial Properties Inc. Brokers Sale of Black Canyon Commerce Park in Phoenix for $5.6M

by Jeff Shaw May 16, 2023

PHOENIX — North Mountain Professional Plaza LLC has purchased Black Canyon Commerce Park, a 56,042-square-foot office building in Phoenix, for $5.6 million. The multi-tenant building is located at 2225 W. Peoria Ave. The asset is situated about 15 minutes from the Taiwan Semiconductor Manufacturing Company plant. Bob Deininger at Commercial Properties Inc. represented the buyer. Deininger and Ken Elmer have retained the lease listing of Black Canyon Commerce Park. The seller was not disclosed.

May 16, 2023

Acquisitions Multifamily Oregon Seniors Housing Western

SLIB Negotiates Sale of 25-Unit Clackamas View Seniors Housing in Milwaukie, Oregon

by Jeff Shaw May 16, 2023

MILWAUKIE, ORE. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Clackamas View, an independent living, assisted living and memory care facility in Milwaukie, just south of Portland. The facility consists of 25 units and was built in 2012. The property totals 15,132 square feet on approximately 1.42 acres of land. The buyer was a private investor that will lease the community to a local operator. The buyer plans to spend money on capital improvements and focus on private pay residents. Jason Punzel, Brad Goodsell, Vince Viverito and Jake Anderson of SLIB handled the transaction. The seller and price were not disclosed.

May 16, 2023

Development Midwest Multifamily Ohio

Flaherty & Collins Breaks Ground on $60M Luxury Apartment Complex in Cleveland Heights

by Kristin Harlow May 16, 2023

CLEVELAND HEIGHTS, OHIO — Flaherty & Collins Properties has broken ground on The Marquee at Cedar Lee, a $60 million luxury apartment complex in Cleveland Heights, an eastern suburb of Cleveland. Plans call for 204 units and 8,534 square feet of retail space. The parking garage will hold 225 parking spaces and there will be 42 surface lot spaces surrounding the property. Amenities will include a saltwater pool, courtyard, outdoor sky lounge, pet spa, bark park, fitness center, coworking suites and a 24-hour market. Completion is slated for spring 2025. Flaherty & Collins is developing the project as a public-private partnership with the City of Cleveland Heights. First National Bank of Omaha provided a construction loan. The project team includes general contractor Snavely Group as well as City Architecture and Project Management Consultants.

May 16, 2023

Development Leasing Activity Michigan Midwest Restaurant Retail

Slim Chickens Inks Deal to Open 25 New Locations Throughout Southeast Michigan

by Kristin Harlow May 16, 2023

MICHIGAN — Fast-casual restaurant Slim Chickens has inked a deal to open 25 new locations throughout Southeast Michigan. Business partners Brad and Todd DeLange along with Doug Broadright are spearheading the expansion. Currently, Slim Chickens operates more than 225 locations across the United States and the United Kingdom with more than 1,100 locations in development. Slim Chickens offers 17 different dipping sauces and a variety of menu items such as chicken tenders, salads, sandwiches, chicken and waffles, chicken wings and various sides. The first Slim Chickens opened in 2003 in Fayetteville, Ark. A timeline for the opening of the Michigan locations was not provided.

May 16, 2023

Acquisitions Industrial Midwest Minnesota

MLG Capital Acquires Hampshire Technology Center in Bloomington, Minnesota

by Kristin Harlow May 16, 2023

BLOOMINGTON, MINN. — MLG Capital has acquired Hampshire Technology Center in the Minneapolis suburb of Bloomington for an undisclosed price. The Class B flex industrial property totals more than 144,000 square feet across 14 acres. MLG acquired the asset in partnership with Hoyt Properties and plans to make interior renovations. Hampshire Technology Center marks MLG’s 25th investment in metro Minneapolis and the 11th acquisition within its MLG Private Fund VI, which launched in May 2022.

May 16, 2023

Acquisitions Illinois Industrial Midwest

Marcus & Millichap Arranges $4.1M Sale of Industrial Building in Mokena, Illinois

by Kristin Harlow May 16, 2023

MOKENA, ILL. — Marcus & Millichap has arranged the $4.1 million sale of a single-tenant industrial building in Mokena, a southern suburb of Chicago. The 39,816-square-foot property is located at 9860 Clearvue Court in Will County. Built in 2006, the facility features a clear height of 28 feet, seven drive-in doors and one dock. Colony Hardware, a national provider of tools, equipment, supplies, products and rental/repair services to commercial construction and industrial industries, fully occupies the property. Brent Holder and Peter Doughty of Marcus & Millichap represented the seller, a private investor. Buyer information was not provided.

May 16, 2023

Development Leasing Activity Midwest Retail Wisconsin

Caribou Coffee to Open at New Mixed-Use Development in Brookfield, Wisconsin

by Kristin Harlow May 16, 2023

BROOKFIELD, WIS. — Caribou Coffee has signed a lease to open as the inaugural tenant at a new mixed-use development in the Milwaukee suburb of Brookfield. The project is a redevelopment of a former Pepino’s restaurant and a tax preparation office located at the intersection of Capitol and Calhoun roads. Construction is underway, and Caribou Coffee is slated to open this summer. Bill Quinlivan of Colliers | Wisconsin is marketing the property for lease.

May 16, 2023

Development Multifamily New Jersey Northeast

Larken Associates Completes 254-Unit Multifamily Project in Readington, New Jersey

by Taylor Williams May 16, 2023

READINGTON, N.J. — New Jersey-based developer Larken Associates has completed The Ridge at Readington, a 254-unit multifamily project located about 50 miles southwest of Manhattan. The Ridge at Readington features a mix of market-rate and affordable units in one- and two-bedroom formats across nine buildings. Residences are furnished with stainless steel appliances and quartz countertops. Amenities include a pool, fitness center, lounge and wet bar, outdoor pavilion, dog park and walking trails. Rents start at $1,950 per month for a one-bedroom apartment.

May 16, 2023

Acquisitions Industrial New Jersey Northeast

JLL Brokers $26.5M Sale of Warehouse in Piscataway, New Jersey

by Taylor Williams May 16, 2023

PISCATAWAY, N.J. — JLL has brokered the $26.5 million sale of a 101,381-square-foot warehouse located at 100 New England Ave. in the Northern New Jersey community of Piscataway. The industrial facility sits on eight acres and features a clear height of 24 feet, six loading docks and one drive-in door. Marc Duval, Jordan Avanzato, Frank Recine, Nicholas Stefans, Jason Lundy and Jose Cruz of JLL represented the undisclosed seller in the transaction. The buyer was also not disclosed.

May 16, 2023

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