SACRAMENTO, CALIF. — Baltimore-based Wexford Science + Technology, in partnership with The University of California, Davis and the City of Sacramento, has announced the groundbreaking of Aggie Square, a mixed-use development at UC Davis Health Campus in Sacramento. Located at the corner of Stockton Boulevard and 2nd Avenue, Aggie Square’s first phase will offer 808,000 square feet of upscale Class A life sciences research labs, technology and office space, plus housing and retail space. The ribbon-cutting ceremony is scheduled for May 2. Situated on 8.2 acres, Phase I consists of a 313,000-square-foot lab and life sciences building, a 255,000-square-foot Lifelong Learning office and classroom building, a 35,000-square-foot UC Veterinary Genetics Lab, and Anova Aggie Square, a 190-unit residential development with 15,000 square feet of retail space. The first phase also offers community serving uses, a parking structure and indoor/outdoor public spaces. Each building is anchored by UC Davis programs and configured to co-locate private industry investment and innovation infrastructure for startups, as well as community-based partnerships. The project team is also marketing another 313,000-square-foot lab and life sciences building with ground-floor retail located at 100 Aggie Square. The building offers flexible design, and construction will commence once preleasing thresholds are met. …
Property Type
CapMatrix Secures $37.1M Senior Loan for Optima McDowell Mountain Multifamily Property in Scottsdale
by Amy Works
SCOTTSDALE, ARIZ. — Phoenix-based CapMatrix Ltd., acting as exclusive capital markets advisors to Optima, secured a $37.1 million senior loan to provide financing for ongoing land and horizontal infrastructure improvements at Optima McDowell Mountain in Scottsdale. At completion, Optima McDowell Mountain will feature six residential towers offering more than 1,330 units of for-sale condominiums and rental units. The project is located at the southeast corner of Scottsdale Road and Loop 101 freeway. Western Alliance Bank provided the financing, which represented the first deal between Optima and Western Alliance.
AMERICAN FORK, UTAH — CandyCo, a confectionary manufacturer, has signed a lease with owner/developer Robinson Brothers to occupy North Pointe Building F at 1260 S. 630 W in American Fork. The 110,004-square-foot facility is tailored to the tenant’s manufacturing needs. Jarrod Hunt of Colliers handled the negotiations for the lease.
SAN DIEGO — Dollinger Properties has completed the sale of a two-story office building located at 8965 Balboa Ave. in San Diego’s Kearney Mesa neighborhood. Sharp HealthCare acquired the asset for $12.3 million. County of San Diego occupies the 27,761-square-foot property, which was built in 1985. The tenant has been onsite since 2002. Bob Prendergast, Lynn LaChapelle and Zac Saloff of JLL Capital Markets Investment Sales and Advisory team represented the seller, while Mike Labelle and Bridget Gossett of Cushman & Wakefield represented the buyer in the deal.
ORADELL, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the $2.9 million sale of a 13-unit apartment building in the Northern New Jersey community of Oradell. Completed in 1980, the building at 222 Kinderkamack Roadexclusively offers studio apartments and includes 5,195 square feet of office space. Robert Squires of Kislak represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
NORTH LITTLE ROCK, ARK. — Dollar General opened its new distribution center in North Little Rock in February, the retailer’s first warehouse facility in Arkansas. The $160 million development is expected to create 300 new jobs at full capacity and support Dollar General’s traditional, DG Fresh and DG Private Fleet distribution channels. The facility spans more than 1 million square feet in Pulaski County. Dollar General opened its first store in Arkansas 50 years ago in 1975 and currently employs more than 5,700 Arkansans through its and store and distribution center presence.
Regency Centers Acquires Brentwood Place Shopping Center in Metro Nashville for $118.5M
by John Nelson
BRENTWOOD, TENN. — Regency Centers Corp. has acquired Brentwood Place, a 320,000-square-foot power retail center located in the south Nashville suburb of Brentwood. According to the Nashville Business Journal, the center sold for $118.5 million. The property was 95 percent leased at the time of sale and comprises more than 100,000 square feet of anchor retail space leased to Nordstrom Rack, Total Wine & More, T.J. Maxx/HomeGoods and Golf Galaxy. Originally developed in 1973, Brentwood Place is adjacent to the site of the future 350,000-square-foot Vanderbilt Medical Campus.
RICHMOND, VA. — Chicago-based JLL Income Property Trust has purchased a 280,000-square-foot distribution center in Richmond for $40.7 million. The Class A property was delivered in 2022 and features a 200-foot truck court, 32-foot clear heights, truck storage spaces and cold storage areas. The property has direct access to I-895 and is located within two miles of Richmond International Airport and eight miles from I-95. Two unnamed, global tenants occupy the facility with a weighted average lease term (WALT) of 8.4 years.
Greysteel Arranges Construction Financing for Venture at Port City Apartments in Wilmington, North Carolina
by John Nelson
WILMINGTON, N.C. — Greysteel has arranged construction financing for Venture at Port City, a 225-unit apartment development in Wilmington. The borrower and developer, Indianapolis-based Millstone, expects to deliver the midrise community in spring 2027. Chris Wilkins led the Greysteel team to secure a three-year, floating-rate loan through an unnamed regional bank and an undisclosed amount of joint venture equity from an institutional real estate investment fund for Millstone. Venture at Port City will offer one-, two- and three-bedroom apartments, as well as a resort-style saltwater pool, gas grilling stations, an upscale clubhouse and a large outdoor cabana with a poolside lawn area.
ROCK HILL, S.C. — Avison Young has brokered the $11.5 million sale of a 120,000-square-foot industrial facility located near I-77 at 2690 Commerce Drive in Rock Hill, a South Carolina suburb of Charlotte. Chris Loyd, Tom Tropeano and Ryan Kendall of Avison Young represented the seller, Graham Capital, in the transaction. The buyer, Dallas-based Leon Industrial, has tapped Avison Young to handle leasing of the property moving forward.