BOSTON — Marcus & Millichap has negotiated the $4.9 million sale of the Delhi Street Portfolio, a trio of apartment buildings totaling 18 units in Boston’s Mattapan area. The buildings were constructed in 1930 and house three one-bedroom units and 15 two-bedroom units. Evan Griffith and Tony Pepdjonovic of Marcus & Millichap represented the seller, a local partnership, in the transaction. The buyer was not disclosed.
BOCA RATON, FLA. — JLL has arranged the $64 million sale of North 40, a 354,376-square-foot office park in Boca Raton. Related Ross purchased the two-building office campus from Mainstreet Capital Partners and Partners Group. Hermen Rodriguez, Matt McCormack, Ike Ojala, Patrick Salata, Blake Koletic and Hunter Smith of JLL represented the sellers in the transaction. Situated on 23.1 acres near I-95 and a Tri-Rail commuter station, North 40 was 74 percent leased at the time of sale. The property was originally delivered in the mid-1980s and was last renovated in 2025. Earlier this year, Related Ross also purchased Boca Raton Innovation Campus, a nearby office and research-and-development campus spanning 1.7 million square feet.
RICHMOND, VA. — Mt. Pleasant, S.C.-based Ziff Real Estate Partners has sold Stony Point Village, a 112,238-square-foot shopping center located at 3000-3002 Stony Point Road in Richmond’s Bon Air neighborhood. Charlotte-based Asana Partners purchased the center for nearly $41.3 million. Trader Joe’s anchors Stony Point Village, which also houses Sephora, Virginia ABC and Planet Fitness. Ziff Real Estate Partners purchased the shopping center in 2019 when it was 47 percent occupied.
GREENSBORO, N.C. — CBRE has brokered the sale of Renaissance Plaza, a 19-story office tower located at 230 N. Elm St. in downtown Greensboro. Appian Investments purchased the 287,464-square-foot building from Richardson Properties for $22 million. Patrick Gildea, Matt Smith and Greg Wilson of CBRE represented the seller in the transaction. Richardson Properties invested $4 million in renovations to the office tower in 2023. Built in 1990, Renaissance Plaza features a two-story atrium lobby, an attached six-level parking deck with 300 spaces, onsite café and offices with floor-to-ceiling windows. Tenants include Arch Mortgage Insurance, Brooks Pierce, Fox Rothschild, Schell Bray and RSM US.
VIRGINIA BEACH, VA. — San Francisco-based Hamilton Zanze has sold Indigo 19, a 196-unit, garden-style apartment community located at 1940 Pavilion Drive in Virginia Beach. The buyer and sales price were not disclosed. Built in 2013, Indigo 19 features one-, two- and three-bedroom apartments averaging 931 square feet in size, as well as a resort-style pool, two-story clubhouse, business center and bicycle storage. Hamilton Zanze sponsored the acquisition of the property in 2020 and invested in exterior, interior and systems upgrades during its ownership period.
SAN JOSE, CALIF. — A partnership between an affiliate of Oberndorf Real Estate Management (OBREM) and The Bascom Group has acquired Museum Park Apartments, a Class B+ multifamily property located at 465 W. San Carlos in San Jose, for $53.1 million. The name of the seller was not released. Built in 2002 on 3 acres, the three-story garden-style community features 12 buildings offering a total of 117 one-, two- and three-bedroom apartments with in-unit washers/dryers. Additionally, most units feature attached private garages with just over half providing direct access to the homes. Community amenities include 130 parking spaces, including garages, a fitness center, green space, barbecue areas and a dog park. The new ownership group plans to renovate the property by modernizing kitchens, bathrooms and common areas. Apartment Management Consultants will manage the community.
THOUSAND OAKS, CALIF. — JLL Capital Markets has arranged $49.7 million in bridge financing for Lakeview Innovation Center, a R&D and office campus in Thousand Oaks. Jeff Sause, Josh Blank, Marc Schillinger, Alex Olson, Jalynn Borders and Danny Ryan of JLL secured the three-year, floating-rate financing through Forbright Bank for the sponsor, Alta West. Alta West Partners acquired Lakeview Innovation Center as a value-add investment opportunity at 50 percent leased in September 2024. Over the past 24 months, Alta West has brought the asset to 100 percent leased. Current tenants include Marvell Semiconductor, Laboratory Corp. of America, Equinox Fitness, Rawlings Sporting Goods and Anchor Loans. Situated on a 22.1-acre campus, the 275,000-square-foot property features office, lab and R&D space serviced by dock-high loading capabilities and 20,000 amps of power. Onsite amenities include an Equinox Fitness center, full-service café, two-story central atrium with media wall and dining areas, a pickleball court, walking trails and 24-hour onsite security personnel.
KENT, WASH. — Kimco Realty has purchased Canyon Ridge Plaza, a multi-tenant retail community in Kent, from an undisclosed seller for $19 million. Sean Tufts, Kevin Adatto, Joe Dugoni and Jack Hallberg of Northmarq handled the transaction. Located at 26015 104th Ave., Canyon Ridge Plaza features 86,909 square feet of 94 percent occupied retail space. Current tenants include Ross Dress for Less, Old Navy, Petco, Bath & Body Works and Verizon Wireless. Six tenants have executed new or extended long-term leases since January 2025, including a 10-year renewal from Ross. Shadow tenants includes Target, Burlington and TJ Maxx.
VISTA, CALIF. — Pacific Coast Commercial has negotiated the sale of a multi-tenant strip center located at 1717 E. Vista Way in Vista. LB ONE LLC sold the asset to CDH Holdings V LLC for $3.5 million. The 30,600-square-foot property is occupied by a mix of local office and retail businesses. Martin Alfaro of Pacific Coast Commercial represented the seller and buyer in the deal. Ticor Escrow and Title handled escrow and title services for the transaction.
CHICAGO — Chicago-based shopping center owner Pine Tree has acquired sponsor interest in a 10-property portfolio recently appraised at $644 million and totaling 3.5 million square feet. The interest was acquired from SITE Centers (NYSE: SITC) in partnership with a large international investor. The transaction brings Pine Tree’s total acquisition activity over the past 12 months to more than $1 billion and grows the company’s assets under management to more than $4 billion. Spanning nine states, the primarily grocery-anchored portfolio is comprised of tenants such as Target, Sam’s Club, Publix, Aldi, Sprouts Farmers Market, Food Lion, The Fresh Market, Lowe’s, Dick’s Sporting Goods, Best Buy, Marshalls, HomeGoods and Ross Dress for Less. The properties include: Ahwatukee Foothills Towne Center in Phoenix; Ashley Crossing in Charleston, S.C.; Brookside Marketplace in Chicago; Commonwealth Center in Richmond, Va.; Connecticut Commons in Hartford, Conn.; Independence Commons in Kansas City, Mo.; Poyner Place in Raleigh, N.C.; Route 22 Retail Center in New York City; Towne Center Prado in Atlanta; and University Centre in Wilmington, N.C.