BELMONT, MASS. — Zelco Properties & Development, in partnership with AGW Partners, has purchased a 34,000-square-foot retail condo in Belmont, a western suburb of Boston. The space is located within The Bradford, a newly constructed development that houses 115 apartments across three buildings in addition to the retail condo. Retail spaces range in size from 450 to nearly 20,000 square feet. Starbucks currently anchors the condo, which also includes purpose-built restaurant space. The partnership has tapped Connecticut-based Charter Realty to lead leasing efforts.
SAN DIEGO — R.D. Olson, an Irvine, Calif.-based general contractor, has completed the construction of Kettner Crossing, a $30 million affordable housing community situated in San Diego’s Little Italy neighborhood. Bridge Housing Corp. was the developer. Totaling 64 units, the residences are reserved for seniors age 62 and older earning no more than 30 to 60 percent of the area median income. The building also features 2,200 square feet of commercial office space available for lease. Amenities at the community include a rooftop overlooking North San Diego Bay, an open-air turf space, community room and library. A majority of the units (55) feature one-bedroom layouts, and the remaining units are a mix of two-bedroom and studio apartments. The County of San Diego provided the land as well as some financing for the development, which took two years to complete, and partnered with Bridge Housing Corp. to bring the project to fruition. Specifics of the funding were not disclosed, but the state issued $2.5 million in federal low-income housing tax credits to the capital stack. The project team also included architect AVRP Studios, construction manager JLL and civil engineer Fuscoe Engineerings.
PHOENIX — Gantry has secured $16.3 million in financing for a private real estate investor for the acquisition of two buildings located at 950 and 960 W. Behrend Drive in Phoenix. The properties offer 124,308 square feet of industrial and office space. Tim Storey, Adam Parker, Chad Metzger and Andrew Christopherson of Gantry’s Phoenix office arranged the five-year, fixed-rate loan through a regional bank. The loan features two years of interest-only payments while the property stabilizes and then transitions to a 30-year amortization.
SANTA BARBARA, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the sale of a single-tenant retail property located at 402 N. Milpas St. in Santa Barbara. A Los Angeles-based developer sold the asset to a San Francisco-based 1031 exchange investor for $3.7 million. Sean Cox and Bill Asher of Hanley Investment Group represented the seller, while the buyer was self-represented. The 2,149-square-foot Starbucks Coffee location, which opened in April, features the company’s new café-only prototype design.
YUCCA VALLEY, CALIF. — Progressive Real Estate Partners has arranged the sale of a multi-tenant retail building at 57990 29 Palms Highway in Yucca Valley. A Los Angeles County, Calif.-based private investor sold the asset to a Los Angeles County-based private investor for $1.9 million. Crazy Bargains, Luxury Nail Spa and No Limits Boutique are tenants at the 13,593-square-foot property. Lance Mordachini of Progressive Real Estate Partners represented the seller, while the buyer was self-represented in the transaction.
CENTENNIAL, COLO. — Burgeon Properties Denver LLC has purchased an office building, located on 0.76 acres at 4901 E. Dry Creek Road in Centennial, from Non Paddle LLC for $1.7 million. Built in 1979, the 19,409-square-foot property features private offices, open work areas and suites with kitchens. The building was 80 percent occupied at the time of sale, providing a revenue stream while allowing space for the buyer’s operations. Paul Cattin of Platinum Commercial Real Estate represented the seller in the deal, while the buyer was unrepresented in the transaction.
MADISON, WIS. — CRG has broken ground on Chapter Mifflin, a six-story, 516-bed student housing community in Madison’s Mifflin District adjacent to the University of Wisconsin-Madison. CRG assembled a 1.5-acre site of 12 contiguous parcels along West Washington Avenue and West Mifflin Street for the project and rezoned them for higher-density residential. Chapter Mifflin will offer 162 fully furnished units. Completion is slated for the 2027-28 academic year, with preleasing expected to commence in summer 2026. Currently home to a mix of single-family residences and duplexes operating as student housing, the project site is a half mile from the Memorial Library and four blocks from the retail and entertainment offerings along the State Street corridor. Chapter Mifflin will offer a range of studio through five-bedroom units. Amenities will include a fitness center, study areas, outdoor courtyards, a fifth-floor terrace and secure parking garage. Lamar Johnson Collaborative, a subsidiary of CRG’s parent company Clayco, designed the project, which will feature a public pedestrian connection. Wisconsin-based CG Schmidt will serve as general contractor. CRG worked with Alder Mike Verveer; Madison’s Department of Planning, Community & Economic Development; Capitol Neighborhoods Inc.; and other local stakeholders on the project.
CLEVELAND — The NRP Group has completed The Collins, a 316-unit luxury apartment development on the Scranton Peninsula in Cleveland. The development transforms a long-underutilized waterfront site. Designed by BKV Group, the project spans more than 7 acres and comprises two five-story apartment buildings and three townhome buildings. Apartment units range from studios to three-bedroom layouts. Townhomes include private entry, rooftop balconies and two-car garages. Indoor amenities include a fitness center, resident clubhouse, conference room, private breakout pods and a pet spa. A fifth-floor lounge provides views of the Cuyahoga River and city skyline. Outdoor amenities include a resort-style pool, firepits, grilling stations and an event plaza. The development connects to the Towpath Trail, with free onsite bike rentals available for residents. Dollar Bank served as the construction lender. The Ohio Department of Development provided funds through its Brownfield Remediation and State Opportunity Zone Programs. The Ohio Water Development Authority provided gap financing as well. The City of Cleveland provided tax abatement and tax-increment financing. Monthly rents start around $1,505, according to the property’s website. Residents can earn two months of free rent by moving in prior to Nov. 1.
WATERLOO, IOWA — TVS Supply Chain Solutions has opened its new 225,113-square-foot, build-to-suit facility in Waterloo. Developed in partnership with ElmTree Funds and Ryan Cos. US Inc., the project features 6,800 square feet of office space, a driver’s lounge, 30 loading dock doors and two drive-in doors. TVS’s first Iowa facility is in Iowa City. Ryan is also building another 225,000-square-foot property for TVS in Davenport that is scheduled for completion in October. Ryan served as developer and builder of the Waterloo facility, and Ryan A+E Inc., Ryan’s design studio, served as the architect. ElmTree served as facility owner and financier.
NEW ALBANY, OHIO — Cushman & Wakefield has brokered the sale of a 170,000-square-foot office campus located at 8111 Smith’s Mill Road in New Albany near Columbus. EOG Resources Inc., one of the largest crude oil and natural gas exploration and production companies in the United States, was the buyer. The campus will house EOG Resources’ new Columbus division, adding support for the company’s Utica Shale asset development close to its operations in the region. The LEED Gold-certified building offers office, training and lab facilities along with modern amenities. Randy Stephens and W. Allan Meadors of Cushman & Wakefield represented EOG Resources in the transaction. The company plans to open the new office later this year.