TUCSON, ARIZ. — EMZ Equity Group has completed the sale of Alvernon Apartments, a multifamily community in Tucson, to Alvernon Coyote LLC for $1.8 million. Located at 2053 and 2099 N. Alvernon Way, the 13,200-square-foot complex features 24 apartments. Allan Mendelsberg and Joey Martinez of Cushman & Wakefield | PICOR represented the seller and buyer in the deal.
CHARLOTTE, N.C. — Equus Capital Partners has acquired Greylyn Business Park, a 19-building industrial park totaling 648,060 square feet in the Southeast Industrial submarket of Charlotte. The $102 million acquisition was completed on behalf of a value-add fund sponsored by Equus. The seller requested anonymity. Constructed between 1965 and 1998, Greylyn Business Park is currently 93 percent leased to 91 tenants. Amenities include 14- to 24-foot clear heights, a combination of dock-high and ground-level loading docks, 15 ramps and more than 1,500 parking spaces. Average suite sizes are approximately 6,550 square feet. Equus plans to implement various capital improvements at the property, such as funding deferred maintenance and modernizing building systems, curb appeal and functionality, as well as preparing vacant suites for new tenants. Equus will also reposition select suites to better align with current market preferences.
CHARLOTTESVILLE, VA. — JLL Capital Markets has arranged a $74.5 million loan for the refinancing of the Shops at Stonefield, a 267,294-square-foot shopping center located in the Central Virginia city of Charlottesville, just two miles north of the University of Virginia. Brian Gaswirth, Evan Parker, Gus Caiola and Jude Carlon of JLL arranged the three-year loan through FS Credit Real Estate Income Trust on behalf of the borrower, O’Connor Capital Partners. Shops at Stonefield is anchored by Trader Joe’s and a 14-screen Regal Cinema. Other tenants include L.L. Bean, lululemon and Sephora. The center is currently 98 percent leased but only 92 percent occupied, according to JLL. Shops at Stonefield is part of a 43.5-acre master-planned community that includes a 137-room hotel, 455,000-square-foot manufacturing facility occupied by aerospace giant Northrop Grumman Corp. and three residential properties totaling 686 units, including a recently delivered, 227-unit luxury multifamily community.
MACON, GA. — Winston-Salem, N.C.-based Omega Construction has broken ground on an 801,000-square-foot warehouse and distribution facility for in Macon for Bob’s Discount Furniture. Situated roughly 85 miles southeast of Atlanta in Central Georgia, the facility will serve as a major logistics hub to support the retail furniture chain’s growth across the Southeast. Further details of the development were not disclosed. Needham, Mass.-based Onyx Partners is leading the development, with Omega Construction serving as the design-build general contractor, in partnership with Falcon Design Consultants, Atlas Collaborative and HGA. As of early 2026, Bob’s Discount Furniture operates more than 200 stores across the U.S.
APOPKA, FLA. — SRS Real Estate Partners has brokered the $5.3 million sale of the Shoppes at Hunt Club, an 8,211-square-foot retail property located in Apopka, approximately 12 miles northwest of Orlando. William Wamble and Patrick Nutt of SRS represented the seller, a Florida-based national investor and developer, in the transaction. The 1031 exchange buyer was a Florida-based private investor. Built in 2006 on nearly 1.5 acres, the Shoppes at Hunt Club was fully leased at the time of sale to tenants including Firehouse Subs, Smoothie King, Spectrum and MUV Dispensary. The property is situated adjacent to Club Corners, a 105,000-square-foot, Publix-anchored neighborhood center.
GLENDALE HEIGHTS, ILL. — Eastham Capital has acquired The Flats at Gladstone in the Chicago suburb of Glendale Heights with its operating partner Bender Cos. The purchase price was $24.1 million. The 168-unit, garden-style community was 96 percent leased at the time of sale. Rents average $1,690 per month. Built in 1977, The Flats at Gladstone consists of 31 buildings. A renovation plan calls for more than $2.5 million in exterior building improvements and interior unit upgrades, complemented by the construction of a new clubhouse with a fitness center, leasing office and maintenance shop. To date, Eastham and Bender have co-invested in 12 projects.
CHICAGO — The Boulder Group has arranged the $5.3 million sale of a single-tenant retail property net leased to CVS in Chicago. Constructed in 2002, the 15,414-square-foot building is located at 3951 W. 103rd St. CVS recently executed a long-term lease extension through January 2039. The lease features 10 five-year renewal options with 5 percent rental escalations in each option period. Portions of the property are master leased by CVS to Subway and CD One Price Cleaners, both of which have been operating at the location since 2002 and 2003, respectively. Randy Blankstein, Jimmy Goodman and John Feeney of Boulder Group represented the seller, a Northeast-based real estate investment company. The buyer was a self-represented real estate trust.
MEQUON, WIS. — Kolberg-Pioneer Inc., a division of Astec Industries, has signed a lease with St. John Properties Inc. for 8,353 square feet at Donges Bay Office Center in the Milwaukee suburb of Mequon. The two-story office building totals nearly 36,000 square feet. The company, which provides equipment servicing the infrastructure, aggregates and mining industries, plans to relocate approximately 20 employees to the building at 10375 N. Baldev Court later this year. Greg Fax represented the landlord on an internal basis, while Brett Garceau of Colliers represented the tenant. St. John Properties acquired the building in 2022.
STATE COLLEGE, PA. — An affiliate of New Jersey-based intermediary Cronheim Mortgage has arranged a $40 million construction loan for a 70-room hotel and condo project in State College. The site is located at the gateway to Penn State University’s campus, and the building will include ground-floor retail space. Residences/hotel rooms will feature premium finishes, and residents will have access to 24/7 security, concierge and housekeeping services, as well as use of a fitness center. An undisclosed national lender provided the nonrecourse loan to the borrower, which also requested anonymity.
DERBY, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $15.4 million sale of Derby Shopping Center, a 170,683-square-foot shopping center located about eight miles west of New Haven. Built in phases from 1985 to 2023 and anchored by Lowe’s Home Improvement, the center is also home to tenants such as Splash Car Wash, Webster Bank and Dunkin.’ Jim Koury of IPA, along with Henry McKenney and John Krueger of Marcus & Millichap, represented the seller and procured the buyer, both of which requested anonymity, in the transaction.