FORT LAUDERDALE, FLA. — Dalfen Industrial has acquired a nine-building industrial portfolio in South Florida’s Broward County totaling 419,253 square feet. The Dallas-based investment and development firm purchased the properties at 55 percent replacement cost. The portfolio was 83 percent leased at the time of sale to tenants including FedEx, Event Service Group Realestate LLC, Chromalloy Material Solutions LLC and Commercial Distribution Specialists Inc. The properties offer direct access to I- 95 and the Florida Turnpike, as well as proximity to Port Everglades and Fort Lauderdale-Hollywood International Airport. The seller and sales price were not disclosed.
CARY, N.C. — Mesa West Capital has provided a $29.7 million acquisition loan for The Ellery of Cary, a 194-unit apartment community located at 100 Hempstead Court in Cary, a suburb of Raleigh. Trevor Brotman, Tricia Linden and Kara Profitt of Walker & Dunlop’s Irvine, Calif., office arranged the five-year, non-recourse loan on behalf of the borrower, McDowell Properties. The seller and sales price were not disclosed. Built in 1988 on nearly 19 acres, The Ellery of Cary offers a mix of one- and two-bedroom floorplans averaging 875 square feet in size. Amenities include a swimming pool with a sundeck, 24-hour fitness center, dog park, outdoor courtyard with fire pits and grills and walking trails with direct access to the Black Creek Greenway.
SCOTTSDALE, ARIZ. — Diversified Partners has closed on a waterfront property in Scottsdale that will become The Lakefront at Scottsdale, a mixed-use redevelopment. The project will revitalize a landmark waterfront site in Scottsdale, transforming a long-established location into a destination for dining, retail and gathering spaces. The 100,000-square-foot property will be redeveloped in phases offering restaurant, retail and office space centered around walkability, gathering spaces and waterfront activation. Originally developed in 1978, the redevelopment will preserve elements of the property’s longstanding architectural character while modernizing the site to serve the needs of the Scottsdale community. The Lakefront at Scottsdale will feature signature restaurants with outdoor dining overlooking the lake, boutique and experiential retail concepts, luxury wellness and lifestyle tenants and Class A office space with waterfront views, as well as a small marina with Duffy boat rentals. Construction is slated to start in third-quarter 2026 with the first phase focused on demolition and development of the restaurant and retail components. The second phase scheduled to begin in early 2027 and focus on the redevelopment of the remaining retail and office portions.
HUNTINGTON BEACH, CALIF. — The Bluhm Family Foundation has broken ground on The Marisol, a 214-unit luxury seniors housing project located in Huntington Beach in Southern California. In May, the developer received $252.1 million in bond financing for the project. Upon completion, the community will feature a mix of studio, one- and two-bedroom apartments. Amenities will include a coffee and snack bar, community store, wellness lounge, pool, spa, beauty salon, golf simulator, gym, art studio, craft studio, community room and three courtyards. The opening is scheduled for 2028. Momentum Senior Living will manage the community.
EL CAJON, CALIF. — JLL Capital Markets has brokered the $31.5 million sale of The Shops at Parkway Plaza, a grocery-anchored retail center in El Cajon. A private seller sold the asset to a Texas-based family office. Located at 149 Fletcher Parkway, The Shops at Parkway Plaza features 122,484 square feet of retail space. Current tenants include Best Buy, HomeGoods, Aldi, Texas Roadhouse and Applebee’s Grill + Bar. Daniel Tyner, Geoff Tranchina and Gleb Lvovich of JLL represented the seller in the deal.
CLOVIS, CALIF. — Hanley Investment Group Real Estate Advisors has negotiated the $5 million sale of a 2,047-square-foot, single-tenant retail property located roughly eight miles west of Fresno in Clovis. A 7-Eleven convenience store and fuel station occupies the property, which was originally built in 1991 and renovated in 2019. Jacob Fahner and Jeremy McChesney represented the seller, a Los Angeles–based private investor, in the transaction. Jeffrey Leggio of ASU Commercial represented the buyer, a Bakersfield, California-based 1031 exchange investor.
WOODBURY, MINN. — Gantry has arranged a $39.5 million permanent loan as construction takeout financing for the Edison at Woodbury, an apartment complex located in the Twin Cities suburb of Woodbury. The property features 207 units spread across a podium-style, mid-rise apartment building, satellite townhomes and carriage houses with attached parking garages. Floor plans range from one- to three-bedroom units, and all units contain in-unit washer and dryers, walk-in closets, patios and stainless steel appliances. Amenities include a fitness center, pool and clubhouse facilities. Joe Monteleone and Bonnie Monteleone of Gantry arranged the 10-year, fixed-rate Freddie Mac loan, which features five years of interest-only payments that transitions to 35-year amortization.
CHICAGO — Range Group is nearing completion of 465 Carpenter, a 72-unit luxury apartment building on the border of Chicago’s Fulton Market and West Town neighborhoods. Floor plans will consist of studio, convertible, one- and two-bedroom units, and amenities at the five-story boutique property will include a rooftop deck, fitness studio, coworking lounge and pet wash. Cross Street, which is marketing and leasing the building, has begun hard-hat tours with prospective residents ahead of an expected July move-in.
WADSWORTH, OHIO — The Cooper Commercial Investment Group has brokered the sale of a single-tenant medical building occupied by Cleveland Clinic Urgent Care in Wadsworth near Akron. The property recently received nearly $7 million in upgrades from the Cleveland Clinic to transform the asset into a modern urgent care facility with onsite imaging and lab services. Dan Cooper of Cooper Group represented the seller, a private New York-based investor. The property sold at a 5.6 percent cap rate to another private investor based out of New York in an all-cash transaction.
ROSEMONT, ILL. — NAI Hiffman has negotiated a 2,748-square-foot office lease for Horn-McGowan Insurance Agency at 5500 Pearl Street in Rosemont. The lease brings the four-story building to 100 percent occupancy. Owner Integris Ventures purchased 5500 Pearl Steet in 2018 and upgraded the amenities to include a fitness center, lounge, game room and boardroom. NAI Hiffman was engaged by ownership in 2019 to oversee the upgrades and leasing and marketing strategy. Jason Wurtz, Jack Reardon and Sarah Walker of NAI Hiffman represented Integris Ventures in the negotiations.