OMAHA, NEB. — Marcus & Millichap has arranged the sale of a 5,412-square-foot retail property in Omaha for $3.6 million. Constructed in 2021, the building is home to Bank of the West and Dave’s Hot Chicken and is located at 339 N. Saddle Creek Road. Brennan Clegg, Mark Ruble and Chris Lind of Marcus & Millichap represented the seller, a limited liability company. Buyer information was not provided.
WINTHROP HARBOR, ILL. — Quantum Real Estate Advisors Inc. has brokered the sale of a single-tenant retail property occupied by Dollar General in Winthrop Harbor, a city in Northeast Illinois. The sales price was undisclosed. The building was constructed in 2013 and is located at 914 Sheridan Road. Dollar General signed a 15-year lease in 2013. Daniel Waszak of Quantum represented the buyer, a New York-based investor. An Illinois-based investor was the seller.
POTTSTOWN, PA. — CBRE has brokered the $5.2 million sale of a 60,000-square-foot industrial property in Pottstown, a northwestern suburb of Philadelphia. Built in 2000, the facility sits on a 10.3-acre site within Pottstown Industrial Park. Stephen Marzullo, Adam Silverman and Paul Touhey of CBRE represented the seller, an entity doing business as Wynnestay LLP, in the transaction. A subsidiary of TMC Properties LLC purchased the asset, which was fully leased at the time of sale to Eastwood Co., an e-commerce firm in the automotive space, for an undisclosed price.
NEW YORK CITY — Locally based brokerage firm GFI Realty Services has negotiated the $3.2 million sale of a 23-unit multifamily building located in the Midwood area of Brooklyn. Built in 1928, the property consists of four studios, 11 one-bedroom apartments, seven two-bedroom units and one three-bedroom apartment. Matthew Sparks of GFI Realty represented the seller, Santa Rosa Realty, in the transaction. Moshe Goldberger, also with GFI Realty, represented the buyer, Aida Abba Realty.
LOS ANGELES — Carmel Partners has completed the development of VOX at Cumulus, a 14-acre mixed-use community on the site of the former Cumulus radio station towers in Los Angeles. VOX at Cumulus features 910 apartment and townhome units, including studios, one-, two- and three-bedroom floor plants. The property also offers 100,000 square feet of retail space anchored by a Whole Foods Market. The project development team also included TCA Architects (architects), DCI (structural engineering), AMPAM (plumbing), PSOMAS (civil), DFDA (mechanical), Seal Electric (electrical) and MLA (landscaping).
PHOENIX — Whitestone REIT has acquired Arcadia Towne Center, a 70,000-square-foot retail center in Phoenix, for $25.3 million. A Safeway, not included in the sale, anchors the center. Tenants at the property include CVS/pharmacy, Tutor Time, Mathnasium, Over Easy, Sole Ports and Puff & Fluff Grooming. The seller was not disclosed.
LARKSPUR, CALIF. — California Landmark has secured $24.6 million to refinance Woodlark Residences, an 80-unit multifamily community in Larkspur. California Landmark acquired the property in 2014 and has since invested $3.7 million toward capital improvements, including renovations to all units as well as common areas and amenities. According to Apartments.com, the community currently offers amenities such as a pool, fitness center, grill and picnic area, a lounge and internet access. Greg Reed, Kristen Croxton and Tina Quirin of Capital One arranged the five-year, fixed-rate, Freddie Mac loan.
MADRAS, ORE. — Marcus & Millichap has arranged the sale of Mountain View RV & Mini Storage in Madras. The original developers sold the 49,675-square-foot self-storage facility to an out-of-state buyer for $6 million. It features 358 self-storage units. The asset was constructed in two phases in 2020 and 2022 at 2086 NW Andrews Drive. The successful sale highlights the ongoing demand and investment opportunities in the self-storage sector, according to Marcus & Millichap. Christopher Secreto and Samuel Olson of Marcus & Millichap’s Seattle office exclusively listed and marketed the property on behalf of the sellers.
WALNUT CREEK, CALIF. — CBRE has brokered new office leases at Ygnacio Center in Walnut Creek. The leases, totaling 13,916 square feet, were secured for accounting firm BDO USA and law firm Pennington LLP. Ygnacio Center is a Class A office complex spanning 536,000 square feet and three buildings. The recently enhanced amenities include a state-of-the-art conference center, as well as bike parking and showers for tenants. Phil Damaschino, Jeff Birnbaum and Andy Schmitt from CBRE represented the landlord, Hines. Gabe Chao from Transwestern represented BDO and Mindy Bacharach from Commercial East Bay represented Pennington LLP.
PORTLAND, ORE. — BPM Real Estate Group, a locally based and privately owned development and investment company, plans to open the Block 216 mixed-use tower in downtown Portland in August. Located at 900 SW Washington St., the tower will house The Ritz-Carlton, Portland hotel, the brand’s first in the Pacific Northwest. In addition to the 251-room hotel, the high-rise will include The Ritz-Carlton Residences (132 condos and penthouses across 15 floors), shops and 134,000 square feet of office space, as well as a food hall on the ground level known as FLOCK. Development costs for Block 216 are reportedly $600 million. “As one of the tallest towers in Portland, this development is a monumental signifier of the renewal and transformation in store for this city,” says Walter Bowen, founder and CEO of BPM. “We are pleased to contribute to Portland’s continued recovery and resurgence as one of the country’s leading business centers and gateway to the Pacific Northwest travel destination locations.” The Ritz-Carlton hotel’s amenities will include a spa, signature restaurant on the 20th floor, infinity-edge pool and a 4,000-square-foot fitness center, according to the hotel website. FLOCK, which will house nine BIPOC-owned (black, indigenous and people of color) vendors, is …