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Garden-Court-Apartments-Atlantic-City
Affordable HousingDevelopmentMultifamilyNew JerseyNortheast

WinnCos. Begins $33M Renovation of Affordable Housing Property in Atlantic City

by Taylor Williams

ATLANTIC CITY, N.J. — Regional affordable housing owner-operator WinnCos. has begun the $33 million renovation of Garden Court Apartments, a 177-unit affordable housing property in Atlantic City. WinnCos. acquired the 20-building property, which houses 135 one-bedroom units and 42 two-bedroom apartments, in February in partnership with New Jersey-based nonprofit organization Gateway Community Action Partnership. Capital improvements will include upgraded kitchens, bathrooms and flooring in all apartments; new windows, siding, balconies and roofs for all buildings; the installation of new energy-efficient HVAC systems and electrical panels; and new security features. All common areas and amenity spaces will also be upgraded. Completion is slated for next fall.

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Whitehall-Plaza
AcquisitionsNortheastPennsylvaniaRetail

JLL Arranges Sale of 365,071 SF Shopping Center in Whitehall, Pennsylvania

by Taylor Williams

WHITEHALL, PA. — JLL has negotiated the sale of Whitehall Plaza, a 365,071-square-foot shopping center located in the Lehigh Valley. Tenants at the open-air center include Floor & Décor, Wawa, The Gravity Vault, Community Bank, Saladworks, Philly Pretzel Factory, Pizza Hut, Health Network Labs, Five Guys and FedEx. Jim Galbally, Patrick Higgins and JP Colussi of JLL represented the undisclosed seller in the transaction. The buyer, Mishorim Gold Group, which plans to invest in capital improvements to the property, was self-represented.

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DevelopmentIndustrialMidwestWisconsin

Zilber to Develop 252,000 SF Spec Industrial Facility in Germantown, Wisconsin

by Kristin Harlow

GERMANTOWN, WIS. — Zilber Property Group (ZPG) has unveiled plans to develop Zilber Industrial 7 within Germantown Gateway Corporate Park in Germantown, a northwest suburb of Milwaukee. The 252,000-square-foot speculative industrial facility will feature a clear height of 32 feet, 26 loading docks and two drive-in doors. Subject to final municipal approvals, construction is expected to begin this summer with delivery anticipated in winter 2026. Upon completion, ZPG will own and manage approximately 1.3 million square feet of industrial space in Germantown Gateway Corporate Park. The industrial park totals 140 acres and is positioned less than one mile east of the I-41 and Holy Hill Road interchange. Development began in 2018.

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HealthcareIllinoisIndianaLeasing ActivityMidwestOffice

Bradford Allen Negotiates Two Office Leases for Illinois Retina in Chicago Market

by Kristin Harlow

SKOKIE, ILL. AND MUNSTER, IND. — Bradford Allen has negotiated two leases on behalf of Illinois Retina in the Chicago market. The medical services provider signed a 16,228-square-foot lease in Skokie, Ill., as well as an 8,728-square-foot lease in Munster, Ind., about 30 miles southeast of Chicago. Craig Nadborne of Bradford Allen negotiated the leases for Illinois Retina. Nadborne has completed more than a dozen renewals, relocations, expansions and renegotiations on behalf of the tenant over the past 20 years. The Skokie office is at Concourse Office Plaza. The long-term transaction marked a renewal and expansion from approximately 3,000 square feet. The property comprises two 12-story medical office buildings. Illinois Retina’s Munster office relocated from a smaller facility to 9200 Calumet Ave., a single-story medical office complex.

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AcquisitionsIllinoisIndustrialLee & AssociatesMidwest

Lee & Associates Arranges $5.2M Sale of Industrial Building in Metro Chicago

by Kristin Harlow

ELK GROVE VILLAGE, ILL. — Lee & Associates of Illinois has arranged the $5.2 million sale of a 39,879-square-foot industrial building located at 1951 Lively Blvd. in Elk Grove Village. Dustin Albers of Lee & Associates represented the buyer, Sonica International Inc., a global logistics company. John D’Orazio, Jonathan Kohn and Tommy Karnig of Colliers represented the seller, FD Venture Co. LLC.

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AcquisitionsHospitalityMidwestMinnesota

Marcus & Millichap Brokers Sale of 45-Room Country Inn & Suites Hotel in Detroit Lakes

by Kristin Harlow

DETROIT LAKES, MINN. — Marcus & Millichap has brokered the sale of a 45-room Country Inn & Suites hotel in Detroit Lakes, a city in northwest Minnesota. Joseph Ferguson, Jon Ruzicka, Reed Gizinski and Brock Banken of Marcus & Millichap represented the seller, DL Hotel Group LLC, and procured the South Dakota-based buyer. Built in 1996, the recently renovated property is located just off Highway 10 and within walking distance of Detroit Lake. According to Ferguson, Detroit Lakes remains one of Minnesota’s strongest regional lodging destinations.

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Leasing ActivityMassachusettsNortheastRetail

Onyx Partners Welcomes New Tenants to 34-Acre Retail Center in Springfield, Massachusetts

by Taylor Williams

SPRINGFIELD, MASSACHUSETTS — Owner-operator Onyx Partners has welcomed several new tenants to Springfield Crossing, a 34-acre open-air retail center in western Massachusetts that is a redevelopment of the former Eastfield Mall. Joining the tenant roster this summer are Target, which will anchor the second and latest phase of the redevelopment, as well as Chase Bank, Playa Bowls, Be Young Day Spa and Beyond Oishi. Onyx Partners acquired the property in 2023 following the departure of anchor tenants J.C. Penney and Sears.

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VERVE-Boise-ID
IdahoLoansMultifamilyStudent HousingWestern

Harrison Street Provides Loan for Refinancing of 547-Bed Student Housing Community Near Boise State University

by Amy Works

BOISE, IDAHO — Harrison Street Asset Management has provided a loan for the refinancing of a 547-bed student housing community located near the Boise State University campus in Idaho. The borrower was a joint venture between Appian Capital and Subtext. Further details on the financing were not released. Delivered in 2023, VERVE Boise offers units in studio, two-, three-, four- and five-bedroom configurations with bed-to-bath parity. Shared amenities include a resort-style pool, 24-hour fitness center, indoor resident lounge and outdoor gathering spaces. The community was 98 percent leased at the time of financing. 

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112-Tupelo-Alley-Portland-OR
AcquisitionsMultifamilyOregonWestern

MG Properties Acquires 188-Unit Apartment Complex in Portland

by Amy Works

PORTLAND, ORE. — MG Properties has purchased Tupelo Alley, a 188-unit mixed-use apartment community in Portland. Terms of the transaction were not released. Ira Virden, Carrie Kahn and Owen Wise of JLL represented the undisclosed seller in the deal. The property offers studio, one- and two-bedroom units. Charles Halladay, Rick Salinas, Annie Rice, Brandon Smith and Charlie Watson of JLL Capital Markets originated an undisclosed amount of Freddie Mac acquisition financing for the deal.

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The-Jewell-Apts-Denver-CO
AcquisitionsColoradoMultifamilyWestern

Marcus & Millichap Arranges Sale of 93-Unit Apartment Building in Denver

by Amy Works

DENVER — Marcus & Millichap has arranged the sale of The Jewell, a 93-unit apartment building located at 4470 E. Jewell Ave. in Denver’s Virginia Village neighborhood. The seller was a New York-based investor, and the buyer was a California-based investor. The property, which was built in 1968 and recently renovated, was 55 percent occupied at the time of the sale. Jason Hornik and Greg Parker of Marcus & Millichap’s Denver office brokered the sale.

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