Wednesday, April 22, 2026
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AcquisitionsCaliforniaIndustrialSelf-StorageUtahWestern

CBRE Investment Management Acquires Self-Storage Portfolio in Southern California, Utah

by Jeff Shaw

LOS ANGELES — A fund sponsored by CBRE Investment Management has acquired a portfolio of 14 self-storage assets located in Southern California and Utah that totals 8,697 units. The fund now owns 100 self-storage properties across the U.S., totaling 55,477 units. The seller and price were not disclosed. The self-storage assets, which will operate under the StorQuest brand, are primarily single-story, drive-up units in the key infill markets of Los Angeles, the Inland Empire, San Diego and Salt Lake City. The portfolio includes a mix of indoor, climate-controlled units and outdoor units. The properties are currently 95 percent leased. Nick Walker of CBRE’s National Self Storage Advisory Group represented the seller in the transaction. Tom Traynor and James Millon of CBRE’s Large Loans division, along with Talonvest, arranged the financing in the transaction.

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AcquisitionsColoradoMultifamilyWestern

Pinnacle Brokers $6.5M Sale of 31-Unit Apartment Community in Denver

by Jeff Shaw

DENVER — A California-based legacy real estate family has acquired the 31-unit multifamily property at 2444 S. York St. in Denver for $6.5 million. Mike Krebsbach and Kenny Clarke of Pinnacle Real Estate Advisors represented the buyer, and were able to secure an 18.35 percent discount, equating to a nearly $1.5 million price reduction, over the asset’s original listing price when it had gone under contract with another buyer. The buyer also assumed the seller’s low-leverage loan. The listing broker was Kyle Malnati of Calibrate Real Estate. The seller was not disclosed.

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CaliforniaCompany NewsMultifamilyWestern

Sunrise Management to Operate The Warwick Apartments in San Diego

by Jeff Shaw

SAN DIEGO — Sunrise Management has taken over operations of The Warwick, a newly renovated, Class A apartment community in San Diego’s Hillcrest neighborhood. Spectrum Partners recently acquired the luxury multifamily community for $37.4 million. The Warwick was converted from a hotel into apartments in 2017. The 80-unit community now includes a resort-style pool, sun deck with cabanas, fitness center, technology-enabled package lockers, enclosed dog run, LATCH keyless entry and outdoor social lounge.

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Leasing ActivityRetailWashingtonWestern

Ulta, At Home Sign Leases Totaling 95,000 Square Feet at Everett Mall Redevelopment in Metro Seattle

by Jeff Shaw

EVERETT, WASH. — Ulta Beauty and At Home Stores have signed leases totaling 95,000 square feet at Everett Mall, a property currently undergoing redevelopment in Everett, roughly 30 miles north of Seattle. Both retailers will open spaces within a building that formerly housed Sears. Existing tenant Ulta will occupy 10,000 square feet, with At Home leasing 85,000 square feet. Owner Brixton Capital purchased Everett Mall in 2017 and broke ground on the project earlier this year, which will comprise three phases of redevelopment. Bayley Construction is the general contractor, with MG2 providing architectural services. Mattis Partners represented Brixton in the lease negotiations. Real Retail represented At Home, and Northwest Retail Partners represented Ulta.

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DevelopmentGeorgiaMixed-UseSoutheast

Balfour Beatty Completes Redevelopment of Krog District in Atlanta

by John Nelson

ATLANTA — Working on behalf of owner Asana Partners, general contractor Balfour Beatty has completed construction of the Krog District redevelopment in Atlanta’s Inman Park neighborhood. Designed by architect ASD | SKY, the project featured site improvements and enhancements to existing properties at Krog District, including the Krog Street Market food hall, as well as two newly constructed mixed-use buildings with retail and office space. The new four-story building and attached five-story parking deck adjacent to Krog Street Market involved the demolition of an existing office structure. Balfour Beatty delivered the building in shell condition for future interior upfits by tenants. Level one is slated for street-facing retail, and the remainder of the building is designated as office space. The new parking deck offers 186 spaces and is already open to the public. The 33,000-square-foot, three-story building at Lake Avenue Northeast and Krog Street Northeast abuts the Atlanta BeltLine’s Eastside Trail and provides new access to Krog Street Market. The building will feature retail and office tenants and was also delivered in shell condition. The redevelopment project also features upgrades to the existing Atlanta Stove Works retail and office building, including landscape and hardscapes, new storefront systems and façade updates, …

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DevelopmentFloridaMultifamilySoutheast

Mast Capital, Rockpoint Underway on Nine-Story Multifamily Project in Miami Beach

by John Nelson

MIAMI BEACH, FLA. — Mast Capital, in partnership with Rockpoint, is underway on a nine-story, 178-unit multifamily development located at 3900 Alton Road in Miami Beach. Designed by Arquitectonica, the unnamed apartment community will consist of units ranging from studios to three-bedroom apartments sized from 560 square feet to 1,410 square feet. Amenities will include an elevated pool deck, barbecue area, outdoor gaming area, fitness and yoga studio, resident lounge, coworking spaces and a pet washing station. After securing a $64 million construction loan from PNC Bank in Nov. 2022, Mast Capital and Rockpoint broke ground on the development in February 2023 and plan to open the community by fall 2024.

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DevelopmentFloridaMultifamilySoutheast

Madison Communities Breaks Ground on 292-Unit Apartment Development on Florida’s Space Coast

by John Nelson

ROCKLEDGE, FLA. — Madison Communities, a subsidiary of Madison Capital Group, has broken ground on Madison Grove, a 292-unit apartment community in Rockledge. Madison Grove will comprise six four-story apartment buildings and several carriage homes. Amenities will include a clubhouse, fitness center, outdoor lounge with a summer kitchen, resort-style pool and pool deck with grilling stations, recreation areas and cabanas. Madison Grove, located on Rockledge Boulevard, will serve Florida’s Space Coast, a growing region known for its collection of aerospace, engineering and defense industries. Winter Park, Fla-based general contractor Walker & Co. will deliver the property. Madison Communities funded the project through a partnership with Marble Capital and via a construction loan from SouthState Bank. Madison Communities recently acquired sites throughout Florida for future developments, including Bonita Springs, Ruskin, Bradenton, Orlando, St. Augustine, Palm Coast and Jacksonville. Additionally, the developer has new communities under construction in Charlotte, Asheville Charleston and Savannah.

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DevelopmentGeorgiaOfficeRestaurantRetailSoutheast

Ardent to Develop Food-and-Beverage District at Piedmont Center Office Campus in Atlanta

by John Nelson

ATLANTA — Ardent Cos. plans to add a food-and-beverage destination within its Piedmont Center office campus in Atlanta’s Buckhead district. Dubbed Oxton, the project will transform 35,000 square feet of ground-level office space along Piedmont Road to a collection of eateries that will spill into Piedmont Center’s tree-lined courtyard. Atlanta-based Square Feet Studio Architects is leading the design that will span about an acre of the campus. Ardent plans to break ground in the third quarter. Piedmont Center comprises about 2 million square feet of offices and connects to PATH400, a greenway connecting various neighborhoods in the Buckhead area. Along with consulting on Oxton, Bridger Properties will handle the retail leasing assignment. Westbridge is also a consultant for the project.

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AcquisitionsFloridaMultifamilySoutheast

Northmarq Brokers Sale of 150-Unit Apartment Community in St. Petersburg, Florida

by John Nelson

ST. PETERSBURG, FLA. — Northmarq has brokered the sale of Aura @ 4th, a 150-unit garden-style apartment community in St. Petersburg. McCann Investments, a Tampa-based investment firm, sold the community to TRIG Investment Group, a California-based private multifamily investment company, for an undisclosed price. Luis Elorza, Justin Hofford and Kevin Mosher of Northmarq’s Tampa office brokered the transaction. Aura @ 4th was constructed in 2016 and features a unit mix that consists of 40 percent one-bedroom and 60-percent two-bedroom units at an average unit size of 1,087 square feet. The property’s amenity package includes a resort-style pool, clubhouse, 24-hour fitness center, outdoor covered lounge area, stainless steel Weber grills, picnic areas, bark park and a cyber café.

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DevelopmentIllinoisMidwestMixed-UseTop Stories

Development Team Moves Forward With $895M Mixed-Use Project in Chicago’s Woodlawn Neighborhood

by Kristin Harlow

CHICAGO — Woodlawn Central LLC is moving forward with the development of Woodlawn Central, an $895 million mixed-use project spanning eight acres in Chicago’s Woodlawn neighborhood. The development team recently hired Transwestern Real Estate Services as its commercial real estate services provider. Woodlawn Central is poised to transform the area into a walkable, transit-oriented district with easy access to civic amenities such as the Obama Presidential Center, Jackson Park, the Museum of Science and Industry and the University of Chicago. Woodlawn’s Apostolic Church of God conceived and planned the project. The Network of Woodlawn, which was founded in 2009 to improve the neighborhood’s quality of life by building infrastructure to support better education, safety, health and economics, gave substantial input on the project. In addition to 870 homes ranging from affordable workforce options to market rate, luxury and seniors housing, Woodlawn Central will support a diverse range of Black businesses, creators, innovators and residents with much-needed community assets. Plans call for a 154-room hotel, small performance theater, vertical greenhouse and microgrid energy facility. The retail, hospitality, cultural, service, tech and transit options have been planned to nurture Black-owned businesses and generate employment opportunities for residents. According to the development team, …

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