Thursday, August 6, 2026
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AcquisitionsCaliforniaIndustrialWestern

Lee & Associates Negotiates $10.7M Sale of Industrial Building in Chatsworth, California

by Jeff Shaw

CHATSWORTH, CALIF.  — Lee & Associates has arranged the sale of a 37,000 square-foot industrial building in Chatsworth. Northwest Industrial Center sold the asset to an undisclosed buyer for $10.7 million.  The property is located at 9223 Deering Ave. in the Northpark Industrial Center. Previously serving as the location for a database management company, the site’s location in the San Fernando Valley provides access to major freeways and surrounding hubs.  Scott Caswell and Erica Balin of Lee & Associates – LA North/Ventura represented both the buyer and the seller.

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AcquisitionsColoradoRetailWestern

Westwood Financial Sells 23,847 SF Yosemite Center Retail Property in Greenwood Village, Colorado

by Jeff Shaw

GREENWOOD VILLAGE, COLO. — Westwood Financial has sold Yosemite Center, a 23,847-square-foot shopping center located in Greenwood Village, roughly 12 miles south of Denver.  Tenants at the property, which was fully leased at the time of sale, include Chipotle Mexican Grill, Jimmy John’s, Advance Auto Parts, Massage Envy, The Joint and D1 Training.  CBRE National Retail Partners brokered the transaction.

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AcquisitionsCaliforniaMultifamilyWestern

CBRE Brokers $4.3M Sale of 12-Unit Apartment Property in Anaheim, California

by Jeff Shaw

ANAHEIM, CALIF. — CBRE has arranged the sale of a 12-unit multifamily property at 921-927 S. Trident St. in Anaheim. The property traded hands between two private investors in a 1031 exchange.  The property was constructed in 1962 and comprises two buildings on a 0.4-acre site. Units come in two- and three-bedroom layouts. Units were recently renovated with new baseboards and blinds, updated showers, plank flooring and new cabinets and countertops. Dan Blackwell, Andrew Boukather and Sean Farag represented the buyer in the transaction.

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AcquisitionsCaliforniaHealthcareLoansSeniors HousingWestern

Forbright Bank, HJ Sims Provide Acquisition Financing for Two California Skilled Nursing Facilities

by Jeff Shaw

CALIFORNIA — Forbright Bank and HJ Sims have partnered to finance the acquisition of two skilled nursing facilities in California.  The skilled nursing facilities feature approximately 150 beds. The borrower plans to invest in the physical plants of both facilities.  The financing partners described the buyer as “a top-tier skilled nursing operator.” Further details on the properties, buyer and seller were not disclosed.  Forbright and HJ Sims closed a unique unitranche loan product to provide financing for the acquisition. This loan product acts as a single debt obligation with one set of loan documents and one monthly mortgage payment.

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42-Broad-Mount-Vernon-New-York
DevelopmentMultifamilyNew YorkNortheast

Partnership Completes 249-Unit Apartment Complex in Mount Vernon, New York

by Taylor Williams

MOUNT VERNON, N.Y. — A partnership between Alexander Development Group, The Bluestone Organization and J.P. Morgan Global Alternatives has completed 42 Broad, a 249-unit apartment complex in Mount Vernon, located north of New York City. Designed by Perkins Eastman, the 16-story building houses studio, one- and two-bedroom units that are furnished with stainless steel appliances, walk-in showers and individual washers and dryers. Amenities include a pool, fitness center, outdoor kitchens, game room, lobby lounge, coworking spaces, library and a zen garden, as well as ground-floor retail space. Rents start at $2,100 for a studio apartment.

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The-Calhoun-School-Manhattan
AcquisitionsCivicNew YorkNortheast

Cushman & Wakefield Arranges $14M Sale of Manhattan Elementary School Building

by Taylor Williams

NEW YORK CITY — Cushman & Wakefield has arranged the $14 million sale of the 16,267-square-foot elementary school building of The Calhoun School, located at 160 W. 74th St. on Manhattan’s Upper West Side. The five-story building houses a theater, gym, playground and conference room in addition to classrooms and administrative offices. Craig Waggner, John Ciraulo, Andrew Berry, Charlie Gravina, Mike Kavanagh and Jack Stephen of Cushman & Wakefield represented The Calhoun School in the transaction. The buyer was Bayrock Capital. Ownership recently invested in upgrades to the building’s mechanical systems, windows and façade.

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Affordable HousingDevelopmentMassachusettsMultifamilyNortheast

Beacon Communities, CCBA Break Ground on 85-Unit Affordable Housing Project in Boston

by Taylor Williams

BOSTON — A partnership between nonprofit owner-operator Beacon Communities and the Chinese Consolidated Benevolent Association of New England Inc. (CCBA) has broken ground on Pok Oi, an 85-unit affordable housing project in Boston’s Chinatown district. The complex will offer one-, two- and three-bedroom units that will be reserved for renters earning 80 percent or less of the area median income. Nine units will be specifically set aside for citizens experiencing homelessness. Citizens Bank provided construction financing for the project, and MassDevelopment issued tax-exempt bonds. Completion is slated for late 2024.

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DevelopmentIndustrialNew JerseyNortheast

Denholtz Properties Completes 40,500 SF Industrial Flex Building in Hamilton, New Jersey

by Taylor Williams

HAMILTON, N.J. — Locally based developer Denholtz Properties has delivered 800 Horizon Center, a 40,500-square-foot industrial flex building in the Northern New Jersey community of Hamilton. The site is located less than three miles from Exit 7A on the New Jersey Turnpike at the intersection of Interstate 195 and U.S. Route 130. Building features include divisibility to 2,700-square-foot units, a clear height of 26 feet, 15 roll-up doors and roughly 110 car parking spaces. Fennelly Associates has been tapped as the leasing agent as of February 2024.

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Leasing ActivityNew YorkNortheastOffice

VTS Signs 34,325 SF Office Headquarters Sublease at 3 Bryant Park in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — VTS, a provider of commercial proptech solutions, has signed a 34,325-square-foot office headquarters sublease at 3 Bryant Park in Midtown Manhattan. The term is six years. The company will relocate from 141 W. 41st St. in the fourth quarter to the entire 14th floor of the building, which was previously occupied by Salesforce. Jim Wenk of Savills, along with Patrick Heeg of Transwestern and Sam Seiler of JLL, represented VTS in the lease negotiations. Sacha Zarba, James Ackerson and Alice Fair of CBRE represented Salesforce. Ivanhoe Cambridge owns 3 Bryant Park.

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AcquisitionsIndustrialMidwestMinnesota

PCCP, Capital Partners Acquire Six-Building Industrial Portfolio in Minneapolis

by Kristin Harlow

MINNEAPOLIS — A joint venture between PCCP and Capital Partners has acquired a six-building light industrial portfolio totaling 690,742 square feet in Minneapolis for an undisclosed price. The properties, built between 2001 and 2014, are 91 percent leased to 15 tenants with an average size of 38,400 square feet and a weighted average lease term of 6.3 years. The portfolio was previously under institutional ownership. Peter Mork and Jason Simek, managing partners of Capital Partners, helped design, develop and lease the portfolio throughout the early 2000s when they previously worked for CBRE.

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