FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of Overton Park Professional Center, an 18,102-square-foot medical office complex in Fort Worth. The two-building property was built in 2000 and was fully leased at the time of sale. Chris Gainey and Philip Levy of Marcus & Millichap represented the seller, a local private partnership, in the transaction. Levy also procured the buyer, a New York-based 1031 exchange investor, in conjunction with Marcus & Millichap’s Zan Colin.
DURHAM, N.C. — Atlanta Property Group (APG) has acquired North 70 Distribution Center, a 250,000-square-foot, vacant distribution facility located at 224 N. Hoover Road in Durham. This acquisition marks APG’s first industrial investment in the Durham submarket. The seller was not disclosed. Situated in Research Triangle Park along the I-40 corridor, North 70 Distribution Center spans 16 acres and features 26 dock-high doors, two drive-in doors, 22-foot clear heights, tilt-wall construction, LED warehouse lighting, parking spaces for cars and trailers and more than 3 acres of secured outdoor storage. The existing walls and office build-outs allow for single-tenant or multi-tenant configurations, with the ability to accommodate users ranging from approximately 50,000 to 250,000 square feet. Approximately 40 percent of the facility is air-conditioned.
GERMANTOWN, TENN. — A joint venture between locally based Fogelman Properties and Dallas-based Thackeray Partners has acquired The Vineyards, a 200-unit luxury apartment complex located in Germantown, roughly 21 miles southeast of Memphis. The seller and sales price were not disclosed. This transaction marks the 18th acquisition for the Fogelman-Thackeray partnership, which comprises more than 4,000 units. Built in 1997, The Vineyards offers one-, two- and three-bedroom apartments ranging in size from 778 to 1,661 square feet, according to Apartments.com. Amenities at the property include a fitness center, business center, clubhouse, swimming pool, picnic area and onsite maintenance, as well as walking and biking trails. Fogelman plans to renovate unit interiors, build a new pickleball court and enhance the clubhouse, fitness center, grilling pavilion and pool areas. The property, which was 93 percent occupied at the time of sale, is managed by Fogelman.
CHARLESTON, S.C. — The Container Collective, a holistic wellness center and coworking community for practitioners, will relocate to Morris Square, a mixed-use redevelopment in downtown Charleston. Formerly situated at 210 Coming St., The Container Collective has purchased a ground-floor condominium to relocate its wellness and massage therapy practice to 21 Jasper St. Renovations are expected to begin soon, with the new location opening upon completion. GiGi Gilden and Jack Owens of NAI Charleston represented The Container Collective in the transaction. Shea Robbins of Carolina One Real Estate represented the undisclosed seller. The sales price was also not disclosed.
LINCOLN, NEB. — CBL Properties has acquired Gateway Mall in Lincoln for $43.5 million from Washington Prime Group. CBL financed the acquisition with a $21 million loan provided by Symetra Life Insurance Co. The five-year loan features a fixed interest rate of 6.46 percent. The property totals roughly 843,000 square feet. Anchor tenants include Dillard’s, JC Penney, Dick’s Sporting Goods, Round 1, H&M, Ulta, Ross Dress for Less, Sierra, Tesla and Total Wine & More. In a separate transaction, CBL has entered into a contract for the sale of an open-air center at an approximately 8 percent capitalization rate. The transaction is expected to generate net proceeds after debt repayment of $25 million and is anticipated to close in April.
CARMEL, IND. — CBRE has brokered the sale of Village Park Plaza, a 290,016-square-foot shopping center in the Indianapolis suburb of Carmel. CBRE’s National Retail Partners Midwest team represented Washington Prime Group in the sale of the property to Pine Tree, which acquired the asset in partnership with a state pension fund. Tenants include Kohl’s, Hobby Lobby, Ross Dress for Less, Ulta and Dollar Tree. The property was 99 percent leased at the time of sale.
CHICAGO — Transwestern has negotiated a 72,645-square-foot office lease at Michigan Plaza in Chicago. Mark Buth, Kathleen Bertrand and Steve Hennessy of Transwestern represented the landlord, Aegis Asset Management. Jeff Lindenmeyer, Chris O’Leary and Shannon Connerty Morris of Avison Young represented the tenant, the Illinois Housing Development Authority (IHDA). Transwestern also manages the nearly 2 million-square-foot complex. IHDA will occupy space in the 978,693-square-foot 225 N. Michigan Ave. building. The transaction marks the largest new lease in the East Loop submarket since the second quarter of 2023, according to Transwestern. Located on Michigan Avenue south of the Chicago River, Michigan Plaza offers amenities such as multiple tenant lounges, a fitness center and outdoor space. The second-floor lounge is connected to the East Plaza, an outdoor terrace with a bocce ball court and putting green. The third-floor lounge offers a kitchen and conferencing space.
CHICAGO — Associated Bank has provided a $7.6 million construction loan for a five-story, 40-unit apartment building located at 4725 N. Clifton Ave. in Chicago. CEDARst Cos. is developing the transit-oriented project, which is named Clifton Uptown. Located in the heart of the Uptown Square Historic District, the property will feature 12 studio units, 28 one-bedroom units and 1,839 square feet of ground-floor retail space. The site is adjacent to the CTA Red Line Lawrence Station that is in the final stages of a $2.1 billion Red and Purple Line modernization project. Daniel Barrins of Associated Bank managed the loan arrangements and closing.
NEW YORK CITY — American Lions, which is a joint venture between locally based developers Fetner Properties and Lions Group, has received a $111 million bridge loan for the refinancing of The Bold, a 164-unit apartment building in Queens. Designed by SLCE Architects, the 28-story building is located at 2701 Jackson Ave. in the borough’s Long Island City area and includes 50 affordable housing residences. Units come in studio, one-, two- and three-bedroom floor plans. The amenity package consists of a coworking lounge, gym with a climbing wall, party room with a bar and kitchen, clubhouse lounge, media room and a golf simulator room. Christopher Peck, Nicco Lupo, Michael Shmuely, Alex Staikos and Adam Dietrich of JLL arranged the loan through PGIM Real Estate.
MILLSTONE, N.J. — JLL has arranged an undisclosed amount of acquisition financing for a roughly 1 million-square-foot industrial property in Millstone, about 55 miles south of New York City. Millstone 8 Logistics Park was built in 2022 and features a cross-dock configuration, clear height of 40 feet, 170 loading doors and parking for 458 cars and 273 trailers. The facility was fully leased at the time of the loan closing to an undisclosed provider of third-party logistics services. Jim Cadranell, Jon Mikula, John Cumming and Caleb Henry of JLL arranged the loan through Northwestern Mutual on behalf of the buyer, institutional investment firm BGO.