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35-N-Lake-Ave-Pasadena-CA
AcquisitionsCaliforniaOfficeWestern

Swift Real Estate Partners Sells 158,785 SF Office Building in Pasadena, California

by Amy Works

PASADENA, CALIF. — Swift Real Estate Partners has completed the disposition of 35 N Lake, a Class A office building in Pasadena, to State Compensation Insurance Fund for an undisclosed price. Located at 35 N. Lake Ave., 35 N Lake offers 158,785 square feet of office space approximately 10 miles northeast of downtown Los Angeles and blocks from the Metro Gold Line, providing connectivity to Santa Monica, the South Bay and Hollywood. Jeff Bramson, Andrew Harper, Will Poulsen, Jacob Molloy and Will O’Neil of JLL Capital Markets represented the seller, while CBRE represented the buyer in the transaction.

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PSRS-Industrial-Grover-Beach-CA
CaliforniaIndustrialLoansWestern

PSRS Arranges $6M Refinancing for Industrial Property in Grover Beach, California

by Amy Works

GROVER BEACH, CALIF. — PSRS has arranged $6 million in refinancing for an industrial asset in Grover Beach. Situated on a 70,947-square-foot site, the property consists of two warehouses separated by a 40-space parking area. The buildings feature flexible, customizable layouts designed to support a wide range of tenant uses. Jacob Lee and Nathan Toomey of PSRS secured the loan, which features a 74 percent loan-to-value ratio and 25-year term structure, through one of PSRS’ correspondent life insurance companies.

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AcquisitionsArizonaMultifamilyWestern

Cushman & Wakefield | PICOR Negotiates $2.9M Sale of Apartment Complex in Tucson

by Amy Works

TUCSON, ARIZ. — Cushman & Wakefield | PICOR has negotiated the sale of Victoria Arms Apartments, a multifamily property in Tucson. Christopher R. Cotter acquired the asset from G and B Holdings LLC for $2.9 million. Located at 1518 E. Hedrick Drive, the 19,250-square-foot property features 25 units. Allan Mendelsberg and Joey Martinez of Cushman & Wakefield | PICOR represented the seller in the deal.

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AcquisitionsConnecticutNortheastRetail

CBRE Negotiates $21.4M Sale of Shopping Center in Wallingford, Connecticut

by Taylor Williams

WALLINGFORD, CONN. — CBRE has negotiated the $21.4 million sale of a 115,000-square-foot shopping center in Wallingford, located roughly midway between Hartford and New Haven. Wallingford Fair Shopping Center is home to a ShopRite supermarket, Petco store and a self-storage facility. Nat Heald, Jordana Roet, Connor Scott and Kyle Juszczyszyn of CBRE represented the seller and procured the buyer in the transaction. Both parties requested anonymity.

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IllinoisLeasing ActivityMidwestOffice

Claire’s to Relocate Headquarters, Signs 43,200 SF Lease in Rosemont, Illinois

by Kristin Harlow

ROSEMONT, ILL. — Claire’s Holdings LLC, a global accessories retailer and portfolio company of Ames Watson, has signed a 43,200-square-foot office headquarters lease at Columbia Centre III in the Chicago suburb of Rosemont. Claire’s will relocate its headquarters from Hoffman Estates, Ill., with the new space expected to open in early 2027. John Clark and Sean Moran of Newmark and Spence Mehl of RCS Real Estate Advisors represented the tenant. Joe Stevens and Steve Degodny of Transwestern represented the undisclosed landlord. Located at 9295 W. Bryn Mawr Ave., Columbia Centre III is a nine-story office building totaling 238,696 square feet. Amenities include a fitness center, onsite dining and covered parking.

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IndianaLoansMidwestMultifamilyStudent Housing

Knighthead Funding Provides $39.7M Refinancing for Student Housing Property Near Indiana University

by Kristin Harlow

BLOOMINGTON, IND. — Knighthead Funding has provided a $39.75 million first mortgage loan to refinance Stadium Crossing, a 226-unit, 734-bed student housing property in Bloomington located directly across from Indiana University Memorial Stadium. The borrower, Varsity Properties, has owned and operated the community for many years. Stadium Crossing was built in the 1980s.

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AcquisitionsIllinoisIndustrialMidwest

Venture One Acquires 122,601 SF Industrial Building in Waukegan, Illinois

by Kristin Harlow

WAUKEGAN, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial VII LP, has acquired a 122,601-square-foot industrial building located at 3210 Oak Grove Ave. in Waukegan. The multi-tenant property was 66 percent leased at the time of sale. Constructed in 2006, the precast building is demised into three units. It features a clear height of 30 feet, 12 exterior docks, three drive-in doors, an ESFR sprinkler system and parking for more than 125 cars. The available unit is 41,838 square feet, including approximately 2,839 square feet of office space. Venture One plans to complete several improvements to the vacant unit, including office renovations, warehouse lighting and renovations to the bathroom and breakroom. Joe Horrigan, Zach Graham and Ryan Bain of CBRE represented the undisclosed seller. Whit Heitman and Jack Fitzpatrick of CBRE will market the property for lease. VK Industrial VII is co-sponsored by Venture One and Kovitz Investment Group.

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AcquisitionsKansasMidwestMixed-Use

Copaken Brooks Buys 98,000 SF Kansas Commerce Center in Lenexa

by Kristin Harlow

LENEXA, KAN. — Copaken Brooks has acquired Kansas Commerce Center, a nearly 98,000-square-foot mixed-use property in Lenexa. The firm will assume full responsibility for property management, accounting and leasing. Kansas Commerce Center is comprised of four buildings, including two multi-tenant flex properties offering a blend of office, showroom and warehouse space; a multi-tenant retail strip center; and a quick-service restaurant with drive-thru occupied by Abelardo’s Mexican Fresh. The property also includes an undeveloped pad site of approximately half an acre. The property is home to 18 tenants, including Wallaby’s Grill and Pub, Philips, DePuy Synthes, Neff Power, Social Security Administration, Apria and Amerita Specialty Infusion Services. Copaken Brook’s Kassie Murphy will oversee retail leasing, while Moly Crawford Munninghoff will handle office and light industrial leasing.

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LoansNew JerseyNortheastRetail

JLL Arranges $11.5M Acquisition Loan for Northern New Jersey Retail Project

by Taylor Williams

CLIFTON, N.J. — JLL has arranged an $11.5 million acquisition loan for a retail project in the Northern New Jersey community of Clifton. The 4.3-acre site at 1030–1050 U.S. Route 46 formerly housed a vacant commercial building that is being redeveloped into a 48,535-square-foot, grocery-anchored retail center that is 80 percent preleased. Ryan Carroll, Nazario Paragano and Christian Badalamenti of JLL arranged the three-year, floating-rate loan through Fidelity Investments on behalf of the undisclosed borrower.

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Leasing ActivityNew YorkNortheastOffice

Groombridge, Wu, Baughman & Stone Signs 42,866 SF Office Lease in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — Groombridge, Wu, Baughman & Stone LLP has signed a 42,866-square-foot office lease in Midtown Manhattan. The law firm will occupy the entire 37th floor and part of the 36th floor at 1185 Avenue of the Americas, a 42-story building. Lisa Kiell and Andrew Coe of JLL represented the tenant in the lease negotiations. Brian Waterman, Jonathan Fanuzzi, Brent Ozarowski, David Waterman and Kevin Sullivan of Newmark represented the landlord, SL Green.

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