SAN ANTONIO — Marcus & Millichap has brokered the sale of a 3.2-acre self-storage development site located at 5361 Pearsall Road in southwest San Antonio. Jon Danklefs of Marcus & Millichap represented the seller, an undisclosed limited liability company, in the transaction. Danklefs also procured the buyer, DD&B Construction, which did not disclose specific development plans for the site.
PHOENIX — Phoenix Commercial Advisors has arranged the sale of Laveen Commons, a 12.1-acre retail center located at the corner of 35th Avenue and Baseline Road in Phoenix. The asset traded for $20.5 million, or $201 per square foot. Totaling 102,083 square feet, the four-building property was fully leased at the time of sale. Current tenants include Big Lots, Big 5 Sporting Goods, Ace Hardware and 99 Cents Only. John Schweikert and Chad Tiedeman of Phoenix Commercial Advisors represented the undisclosed seller in the deal. The name of the buyer was not released.
KERRVILLE, TEXAS — Transwestern Real Estate Services (TRS) has negotiated the sale of a four-building, 15,547-square-foot medical office complex in Kerrville, about 65 miles northwest of San Antonio. The property was built in 2003 and was fully occupied at the time of sale. Russell Noll and Kelly Ralston of TRS represented the seller, HCD Property Group, in the transaction. Donald Kuyrkendall of Kuyrkendall & Co. Inc. represented the buyer, an undisclosed family trust.
HOUSTON — ChipTech, a manufacturer of low-voltage cables for the communications industry, has signed a 14,350-square-foot industrial lease in northwest Houston. The space is located within Pine Timbers Distribution Center and includes 1,655 square feet of office space. Andrew Bischoff and Tyler Holt of Finial Group represented ChipTech in the lease negotiations. Bridge Commercial Real Estate represented the undisclosed landlord.
SAN FRANCISCO — San Francisco-based City Center Realty Partners has acquired a freestanding, multi-tenant retail and office building in San Francisco’s Marina District for an undisclosed price. Tri Counties Bank currently occupies the ground-floor space of the two-story, 4,500-square-foot building, which is located at 2197 Chestnut St. and originally built in 1907. Kazuko Morgan and Heather Trimble of Cushman & Wakefield represented the buyer, while David Klein and Elijah Hodges of Lee & Associates represented the seller in the deal.
PHOENIX — Minneapolis-based The Meritex Co. has acquired a flex industrial building, located at 3930 E. Watkins St. in Phoenix. Simone Charitable Foundation sold the asset for $20.3 million. Built in 1999 on 7.9 acres, the 101,932-square-foot building was fully occupied at the time of sale. The property is located near Sky Harbor International Airport. Brian Ackerman of Colliers handled the sale transaction and assisted in structuring the financing for the seller.
NEW YORK CITY — Locally based investment firm Lightstone has received a $165.5 million Freddie Mac loan for the refinancing of a 430-unit apartment community located at 365 Bond St. in the Gowanus neighborhood of Brooklyn. Built in 2016, the property features studio, one- and two-bedroom units, 40,000 square feet of amenity space and 30,000 square feet of open green space. Peter Rotchford, Michael Shmuely, Nicco Lupo, Jeffrey Julien, Rob Hinckley, Steven Rutman, Jonathan Hageman and Hall Oster of JLL originated the five-year, fixed-rate loan on behalf of Lightstone.
NEW YORK CITY — A joint venture between California-based Sabal Investment Holdings and global real estate companies Bsafal Inc. and Argo Real Estate has provided $64.5 million in financing for the 353-room LaGuardia Plaza Hotel in Queens. The borrower, Pennsylvania-based Synergy Hospitality Management, will use the proceeds to refinance existing debt and fund renovations to the guestrooms, common areas and amenity spaces. Moving forward, the hotel will be operated under the DoubleTree by Hilton brand. New Jersey-based intermediary Cronheim Mortgage arranged the loan.
NEW YORK CITY — Dwight Mortgage Trust, the affiliate REIT of locally based lender Dwight Capital, has provided a $41.2 million bridge loan for Amnia, a 73-unit apartment building in downtown Brooklyn. The newly constructed, 13-story building offers studio, one-, two- and three-bedroom units, with 22 apartments reserved as affordable housing. Amenities include a fitness center, game room, courtyard with a dog run and a rooftop lounge. Pinchas Vogel of Landstone Capital Group arranged the debt. The borrower, Bruklyn Builders Inc., will use the proceeds to retire construction debt and fund other costs of lease-up and stabilization.
CHICAGO — Shapack Partners and CRG have unveiled plans to build a 29-story apartment tower located at 220 N. Ada St. in Chicago’s Fulton Market. The partnership received $84 million in construction financing from Pacific Life Insurance, according to Crain’s Chicago Business. Plans call for 308 apartment units, 62 of which will be designated as affordable housing, as well as 12,300 square feet of ground-floor retail space. Apartments will come in studio, one- and two-bedroom layouts. There will also be nine penthouses. Shapack and CRG are developing the property along with Bill Williams, founder and principal of KMW Communities LLC, a Chicago-based developer. The partnership with KMW is part of CRG’s PILLAR initiative, the firm’s diverse developer program that works closely with a group of Chicago-based developers aimed at addressing the lack of diversity in commercial real estate. Rising 314 feet, 220 N. Ada St. will be positioned on a 27,244-square-foot parcel at the corner of West Fulton and North Ada streets, replacing a one-story warehouse building. Demolition is scheduled for February, with a groundbreaking planned for March. Completion is slated for early 2026. Designed by SOM, the property’s residential units will be situated on floors 5 to 28 and …