THOUSAND OAKS, CALIF. — Newmark Pacific has negotiated the $45.5 million sale of Conejo Valley Plaza, a 127,032-square-foot shopping center located in Thousand Oaks, approximately 38 miles west of Los Angeles. A Ralphs grocery store and Bank of America anchor the center, which was 68 percent leased at the time of sale. Additional tenants include Marshalls, HomeGoods and CVS Pharmacy. Pete Bethea, Rob Ippolito and Glenn Rudy of Newmark Pacific represented the sellers, two entities doing business as Conejo Valley Plaza 1 LLC and Conejo Valley Plaza 2 LLC, in the transaction.
PHOENIX — A joint venture between Harrison Street Asset Management, LCS and Ryan Cos. US Inc. has received refinancing for Clarendale Arcadia, a senior living community located in the Arcadia neighborhood of Phoenix. Ryan Stoll and Taylor Mokris of BWE arranged the financing — which features full-term interest-only payments, an initial 36-month term and two one-year extension options — on behalf of the joint venture. Completed in 2023, Clarendale Arcadia totals 248 residences, with 240 independent living units, 68 assisted living units and 40 memory care units. Amenities at the property include a bistro, fitness center, heated swimming pool, jacuzzi spa, putting greens, a movie theater, salon and spa, landscaped outdoor spaces and a full-service bar.
CHULA VISTA, CALIF. — UTEX Storage Partners has obtained $23.4 million in nonrecourse construction financing for Chula Vista Storage, a to-be-built self-storage facility in Chula Vista. Brian Somoza led the JLL team in arranging the four-year, floating-rate loan through a life insurance company. Upon delivery in 2026, Chula Vista Storage will offer 123,582 square feet of storage space within two three-story buildings. The facility will feature an onsite office, security, a 24-hour surveillance system, controlled access, climate-controlled units and boat/RV storage. The property is located on 9.3 acres near the intersection of South Bay Expressway and Eastlake Drive, approximately 12 miles southeast of downtown San Diego. A REIT third-party management platform will operate and manage the property.
SALT LAKE CITY — Cowboy Partners, with MVE + Partners as architect, has broken ground on Liberty Corner, an affordable housing property in Salt Lake City. The 387,857-square-foot, ground-up community will feature 200 apartments. Salt Lake City-based Cowboy Partners is a multifamily and mixed-use developer.
MURIETTA, CALIF. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Renaissance Village Murietta, an assisted living and memory care community located in Murietta. Built in 2016 and 2018, the property totals 142 units. Renaissance Village Murietta was the only seniors housing asset owned by the undisclosed seller, which is exiting the sector. A REIT was the buyer. Brad Goodsell, Jason Punzel and Vince Viverito of SLIB brokered the transaction.
WOODSTOCK, GA. — Atlanta-based real estate developer and investor Connolly has begun construction on Woodstock Mill District, a 118,000-square-foot shopping center located in the Atlanta suburb of Woodstock. The property is slated to open in phases throughout the second half of 2026. Ameris Bank is providing construction financing for the project. Scott McGregor and Bo Schill of CBRE represented Connolly in the land acquisition, while John Haynes, also with CBRE, represented the land seller. The project team features Place Maker Design (architect), Robertson Loia Roof PC (civil engineer) and Benning Construction (general contractor). Woodstock Mill District will comprise 90,000 square feet of new retail space, including a 46,791-square-foot Publix grocery store that will serve as the anchor tenant. Additionally, the development will include six freestanding buildings ranging in size from 3,500 to 13,750 square feet. Towne Lake Plaza, an existing 28,000-square-foot shopping center which sits adjacent to Woodstock Mill District, will soon be rebranded to join the new development. Connolly originally acquired Towne Lake Plaza in 2021. Connolly has selected Ed O’Connor and Mindy Elms of Lavista Associates Inc. to handle leasing for Woodstock Mill District.
ROCK HILL, S.C. — Crescent Communities has completed the sale of AXIAL Southgate 77, a 220,281-square-foot industrial property situated within Antrim Business Park in Rock Hill, roughly 15 miles south of Charlotte. The buyer was Washington, D.C.-based Penzance. Nolan Aston, Tommy Whitmore, Rob Speir and Pheobe Dinga of Colliers represented the Charlotte-based seller in the transaction. The sales price was not disclosed. Developed in 2024 on 30 acres, AXIAL Southgate 77 features two buildings spanning 50,276 square feet and 220,281 square feet. The property, which was fully leased to three tenants at the time of sale, includes 32-foot clear heights, rear-load capacity, concrete tilt-wall construction and ample parking. Capital partners for AXIAL Southgate 77 include Atlantic Union Bank and Faison. Additionally, the design-build team included Choate Construction (general contractor), JTM Capital and The Tuttle Co. (development) and Progressive Cos. (architect and civil engineering).
BIRMINGHAM, ALA. — Marcus & Millichap has brokered the $11 million sale of Spark by Hilton Birmingham Colonnade, a 122-room hotel located at 4300 Colonnade Parkway in Birmingham. The hotel’s amenities include a bagel bar, lounge, indoor swimming pool, onsite market, 24-hour fitness center, pet-friendly rooms and complimentary breakfast. Originally opened in first-quarter 2025, the four-story hotel sits on roughly 2.3 acres. Jack Davis, Joce Messinger, Joseph Simpson and Eric Webster of Marcus & Millichap represented the seller in the transaction. Eddie Greenhalgh was Marcus & Millichap’s broker of record in Alabama. The buyer and seller requested anonymity.
MINNEAPOLIS — SPS Commerce has renewed its 200,000-square-foot office lease for its corporate headquarters at SPS Tower in downtown Minneapolis. The namesake tenant has occupied space at the property, owned by Sumitomo Corp. of Americas, for 20 years. SPS Commerce’s project partners include Rokos Advisors, Greiner Construction and Gensler, which will shape the office design. Rokos represented the company in evaluating its office space. Transwestern handles management and leasing for SPS Tower, which totals 655,070 square feet. Occupancy exceeds 75 percent. Transwestern, in collaboration with Mission Construction and Studio BV, completed $8 million in updates in 2024 and 2025 that included creating two spec suite floors and an adjoining two-story tenant lounge, renovating the first-floor lobby and adding FRGMNT Coffee. The Turf Club, the largest lawn in downtown Minneapolis, includes a 6,000-square-foot, seven-hole putting green and bocce courts.
OAK CREEK, WIS. — BWE has secured $33.6 million in permanent financing for Heyday Oak Creek, a 130-unit build-to-rent community in the Milwaukee suburb of Oak Creek. Dan Rosenberg, Tim Caffrey and Logan Petersmeyer of BWE arranged the Fannie Mae loan on behalf of Heyday, a Chicago-based developer specializing in build-to-rent communities. The financing paid off the construction loan and closed immediately upon the conclusion of the property’s initial lease-up. The recently built property includes 22 ranch-style buildings with a mix of one-, two- and three-bedroom homes.