Property Type

Confluent, MorningStar Plan 233-Unit Seniors Housing Project in Tustin, California

by Amy Works September 26, 2023

TUSTIN, CALIF. — Confluent Senior Living and MorningStar Senior Living have entered into an Exclusive Negotiating Agreement (ENA) with the City of Tustin to lead the development of MorningStar at Tustin Legacy. Located in Orange County, the 283,000-square-foot community will feature 145 independent living, 60 assisted living and 28 memory care units. The main buildings will be between four and five stories high surrounded by 29 single-story independent living cottages. The site, formerly the Marine Corps Air Station (MCAS) Tustin, is located within the 1,600-acre Tustin Legacy community. The location provides direct access to the next phase of Tustin Legacy Park, which will ultimately connect all sections of Tustin Legacy. The developers plan to break ground in the first half of 2025 through a public-private partnership with the city. HPI Architecture designed the project. During the initial nine-month ENA period, the city, Confluent and MorningStar will negotiate a Disposition and Development Agreement (DDA) that will provide the price and terms of the transaction with the city. Confluent and MorningStar will pursue approval of entitlements for the project during the same ENA period.

September 26, 2023

Acquisitions Colorado Retail Western

Armstrong Capital Acquires Durango Town Center in Colorado for $14.5M

by Amy Works September 26, 2023

DURANGO, COLO. — Armstrong Capital Development has purchased Durango Town Center, a shopping center located at 1125, 1145 and 1185 S. Camino Del Rio in Durango. A local private investor sold the asset for $14.5 million. At the time of sale, Durango Town Center was 98 percent leased to 20 tenants. A Walmart Supercenter shadow anchors the property. Ryan Bowlby and Drew Isaac of Marcus & Millichap’s Denver office represented the seller, while Bowlby also sourced the buyer in the transaction.

September 26, 2023

Acquisitions Arizona Industrial Western

ViaWest Group Buys 23,000 SF Industrial Building in Phoenix’s Deer Valley

by Amy Works September 26, 2023

PHOENIX — ViaWest Group has acquired a single-tenant industrial building, located at 2727 W. Grovers Ave. in Phoenix’s Deer Valley submarket, for an undisclosed price. Gary Cornish and Geoffrey Turbow of CBRE handled the off-market transaction with the undisclosed seller. The 23,000-square-foot property features six dock-high trailer positions, four grade-level doors and 1.4 acres of gated outdoor yard space. A wholesale distributor of specialty building products currently occupies the building.

September 26, 2023

California Loans Retail Western

Marcus & Millichap Arranges $3.8M Refinancing for Retail Property in San Jose, California

by Amy Works September 26, 2023

SAN JOSE, CALIF. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $3.8 million loan for the refinancing of Tully Commercial Center, a retail property in San Jose. Located at 1055-1095 Tully Road, Tully Commercial Center features 15 freestanding retail spaces. Current tenants include Little Caesars, Hawaiian BBQ, a hair and nail salon, and a dry cleaner. David Campbell of MMCC’s Palo Alto office secured the financing, which features a seven-year term and 25-year amortization.

September 26, 2023

Industrial Loans New York Northeast

iBorrow Provides $5.1M Acquisition Loan for Industrial Property in Medford, New York

by Taylor Williams September 26, 2023

MEDFORD, N.Y. — iBorrow, a Los Angeles-based commercial bridge and direct lender, has provided a $5.1 million acquisition loan for a 41,000-square-foot industrial property located in the Long Island community of Medford. The facility sits on 3.1 acres and features a clear height of 22 feet, five drive-in doors and one loading dock, as well as proximity to Montauk Highway and the Long Island Expressway. The borrower was not disclosed.

September 26, 2023

Acquisitions Multifamily New York Northeast

Rosewood Realty Arranges $3M Sale of Multifamily Property in The Bronx

by Taylor Williams September 26, 2023

NEW YORK CITY — Locally based brokerage firm Rosewood Realty Group has arranged the $3 million sale of a 31-unit multifamily property located in the Morrisania area of The Bronx. The property at 988-992 Boston Road consists of two contiguous, five-story buildings that were originally constructed in 1910. Aaron Jungreis, Ben Khakshoor and Alex Fuchs of Rosewood represented the seller, Brooklyn-based HK Organization, in the transaction and procured an undisclosed private investor as the buyer. The sale also included an adjoining, undeveloped lot.

September 26, 2023

Leasing Activity Life Sciences Massachusetts Northeast

Colliers Negotiates 101,000 SF Life Sciences Lease in Devens, Massachusetts

by Taylor Williams September 26, 2023

DEVENS, MASS. — Colliers has negotiated a 101,000-square-foot life sciences lease at Pathway Devens, a 45-acre campus located about 50 miles northwest of Boston. John Carroll III and Kevin Brawley of Colliers represented the tenant, Ascend Elements, which produces parts for lithium ion batteries, in the lease negotiations. Brian McKenzie and Alex Plaistead of CBRE represented the landlord, Boston-based King Street Properties. The deal brings the first phase of the development to full occupancy.

September 26, 2023

Development Illinois Midwest Multifamily Seniors Housing

McShane Completes 131-Unit Assisted Living Community in West Dundee, Illinois

by Kristin Harlow September 26, 2023

WEST DUNDEE, ILL. — McShane Construction has completed The Woodlands at Canterfield, a 131-unit senior living community in West Dundee, about 41 miles northwest of Chicago. Built for Westbrook at Canterfield LLC, the development features 91 assisted living units and 40 memory care beds. Units are offered in studio, one- and two-bedroom configurations. The assisted living wing also features a guest suite for visitors. There are 16,000 square feet of amenity spaces, including a fitness center, two spas, a salon, theater, pub, clubrooms, onsite restaurants, patios, a bocce ball court and putting green. AG Architecture was the architect, and RDG Planning and Design was the interior designer. NAVIGATE Building Solutions served as the owner’s representative.

September 26, 2023

Acquisitions Industrial Midwest Missouri

Hilliker Corp. Brokers Sale of 515,000 SF Manufacturing Plant in Park Hills, Missouri

by Kristin Harlow September 26, 2023

PARK HILLS, MO. — Hilliker Corp. has brokered the sale of a 515,000-square-foot manufacturing plant in Park Hills, about 65 miles south of St. Louis. The sales price was undisclosed, but the list price was $10 million. The 42-acre development, one of the largest manufacturing plants in the state, features 18 dock doors and six drive-in doors. H. Meade Summers, Scott Martin and Jeff Price of Hilliker represented the seller, Piramal Glass Flat River LLC USA, which is part of an international corporation based in India. The plant formerly manufactured glass bottles. Phoenix Investors LLC was the buyer.

September 26, 2023

Development Industrial Loans Michigan Midwest Self-Storage

Basis Industrial Receives $8.3M Construction Loan for Self-Storage Facility in Detroit

by Kristin Harlow September 26, 2023

DETROIT — Basis Industrial has received an $8.3 million construction loan for a self-storage facility in Detroit. Basis acquired the land at 1610 Algonquin St. in October 2021. Berkadia arranged the construction loan through Old National Bank. Basis plans to break ground on the 78,187-square-foot project in October. The facility will feature 645 climate-controlled units, advanced security systems and other amenities. Completion is slated for fall 2024. Basis plans to have a third party, Public Storage, manage the facility upon completion.

September 26, 2023

Newer Posts

Older Posts