Property Type

Bixby Capital Management Purchases 222,382 SF Industrial Facility in Lebanon, Tennessee

by John Nelson March 18, 2025

LEBANON, TENN. — California-based Bixby Capital Management has purchased a newly constructed industrial facility located at 212 Alligood Way in Lebanon, about 22 miles east of Nashville International Airport. Completed in 2024 and currently vacant, the 222,382-square-foot property features a rear-load configuration, 32-foot clear heights, an ESFR sprinkler system, 21 dock-high doors, two drive-in doors, 32 trailer parking spaces, 2,500 square feet of speculative office space and a 135- to 185-foot truck court. George Fallon, Frank Fallon and Trey Barry of CBRE brokered the transaction. The seller and sales price were not disclosed.

March 18, 2025

Acquisitions New Jersey Northeast Office

CBRE Negotiates $10.2M Sale of Northern New Jersey Office Building

by Taylor Williams March 18, 2025

PARSIPPANY, N.J. — CBRE has negotiated the $10.2 million sale of a 79,766-square-foot office building in the Northern New Jersey community of Parsippany. According to LoopNet Inc., the building at 299 Cherry Hill Road was originally constructed in 1977 and renovated in 2021. Capital improvements included a redesign of the exterior façade; updated roadway signage, a new electronic tenant directory and LED lighting in the lobby and a new tenant amenity center with grab-n-go food service, conference room and a huddle room. Charles Berger and Thomas Mallaney of CBRE represented the seller and procured the buyer in the transaction.

March 18, 2025

Acquisitions Multifamily Southeast Virginia

Bonaventure Buys 250-Unit Solace Apartments in Virginia Beach

by John Nelson March 18, 2025

VIRGINIA BEACH, VA. — Alexandria, Va.-based Bonaventure has purchased Solace Apartments, a 250-unit multifamily community located at 400 S. Military Highway in Virginia Beach. The acquisition was made as an UPREIT transaction, an investment strategy where property owners contribute real estate to a REIT’s operating partnership in exchange for ownership interest in that partnership. Robert Prodan served as a contributor with Bonaventure’s REIT, Bonaventure Multifamily Income Trust (BMIT), in the UPREIT acquisition. The seller and sales price were not disclosed. Built in 2014, Solace features one- and two-bedroom apartments, as well as a pool, fitness center, grilling stations and a community clubhouse.

March 18, 2025

Acquisitions North Carolina Retail Southeast

Legacy Realty Arranges Sale of 159,259 SF Shopping Center in Smithfield, N.C.

by John Nelson March 18, 2025

SMITHFIELD, N.C. — Legacy Realty Group Advisors LLC has arranged the sale of Centre Pointe Plaza, a 159,259-square-foot shopping center in Smithfield, approximately 30 miles southeast of Raleigh. An undisclosed buyer purchased the property for $11.6 million. Originally built in 1989, the shopping center is anchored by Belk. Additional tenants at the property include Bealls, Dollar Tree, Hibbett Sports, Subway and T-Mobile. Daniel Baruch of Legacy Realty represented the buyer, and Steve Shields of CBRE represented the undisclosed seller in the transaction.

March 18, 2025

California Development Multifamily Western

MBK Rental Living Debuts Solana at Duarte Station Apartment Community in California

by Amy Works March 18, 2025

DUARTE, CALIF. — MBK Rental Living has opened Solana at Duarte Station, a five-story apartment community located at 1740 Fasana Road in Duarte. The community offers 292 studio, one-, two-, three- and four-bedroom apartments, ranging from 534 square feet to 2,802 square feet. Each unit features open floor plans, natural light and oversized low-E windows. Select floor plans feature private patios or balconies and walk-in closets. Community amenities include a clubhouse, fitness center and yoga studio, coworking spaces, a pool, game lounge, dog lounge, spa and park, a cabana club and social courtyard equipped with outdoor kitchen and dining areas, fire pits and lounge chairs.

March 18, 2025

Acquisitions Northeast Pennsylvania Retail

Marcus & Millichap Brokers $7.2M Sale of Single-Tenant Retail Building Leased to Wawa in Glenside, Pennsylvania

by Taylor Williams March 18, 2025

GLENSIDE, PA. — Marcus & Millichap has brokered the $7.2 million sale of a single-tenant retail building in Glenside, located just north of Philadelphia, that is net leased to local convenience store operator Wawa. The site spans 1.3 acres at 200 S. Easton Road, and the facility, which opened in 2022, includes a fuel station. Scott Woodard and Derrick Dougherty of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

March 18, 2025

Arizona Industrial Leasing Activity Western

Third-Party Logistics Company Leases 641,906 SF Industrial Property in Buckeye, Arizona

by Amy Works March 18, 2025

BUCKEYE, ARIZ. — Kenco, a third-party logistics company, has signed a lease to fully occupy Gateway I-10, an industrial building located at 440 N. 215th Ave. in Buckeye. The landlord, EQT Real Estate, acquired the fully vacant 641,906-square-foot asset in spring 2024 and rebranded the property to its current moniker. Situated on 40 acres, the freestanding building is Phase I of a larger 145-acre project, titled Buckeye I-10 Logistics that BET Investments owns and continues to develop. Mike Haenel, Andy Markham, Phil Haenel and Justin Smith of Cushman & Wakefield represented the landlord in the deal with Kenco. Last year, Cushman & Wakefield’s Will Strong, Michael Matchett and Molly Hunt of the firm’s National Industrial Advisory Group – Mountain West arranged the $60.1 million sale to EQT Real Estate from the property’s original developer, BET Investments.

March 18, 2025

California Industrial Loans Western

IPA Capital Markets Arranges $26.5M in Financing for Culver City Industrial Property in California

by Amy Works March 18, 2025

CULVER CITY, CALIF. — IPA Capital Markets, a division of Marcus & Millichap, has arranged $26.5 million in financing for an industrial building at 8631 Hayden Place in Culver City. The property offers 76,755 square feet of Class A industrial space. New York City-based IPA Capital Markets team of Max Hulsh, Max Herzog, Marko Kazanjian and Andrew Cohen secured the financing with First Citizens Bank on behalf of a Los Angeles-based real estate investment, operating and development company with more than $10 billion in assets under management.

March 18, 2025

Leasing Activity New York Northeast Office

NY E-Health Collaborative Signs 15,000 SF Office Lease in Midtown Manhattan

by Taylor Williams March 18, 2025

NEW YORK CITY — NY E-Health Collaborative has signed a 15,000-square-foot office lease in Midtown Manhattan. The nonprofit networking organization for healthcare professionals is taking space at 5 Penn Plaza, which is located within Hudson Yards and was recently repositioned. Mitch Konsker, Christine Colley, Kristen Morgan, Greg Wang, Kate Roush and Dan Turkewitz of JLL represented the landlord in the lease negotiations. Joe Speck and Reid Longley of Colliers represented the tenant.

March 18, 2025

Acquisitions Hawaii Restaurant Retail Western

New Retail Tenants Open at Ala Moana Center in Honolulu

by Amy Works March 18, 2025

HONOLULU — Ala Moana Center, a 2.4-million-square-foot shopping center located in Honolulu, has announced the expansion of 10 new tenants this year. A mix of restaurant and retail businesses — Amaterasu; Coconut Ave; Baskin Robbins; Eve Ala Moana; fanfancy+; Lovisa; NOHO HOME; Skinceuticals Skin Lab; and ZEGNA — have already opened at the property. Dave & Buster’s, the final tenant to join the roster, is scheduled to open in mid-April. Brookfield Properties of Chicago owns and operates the center. Ala Moana Center is anchored by Bloomingdale’s, Neiman Marcus, Nordstrom, Macy’s and Target and houses more than 350 stores and restaurants, including a selection of local, international and luxury brands.

March 18, 2025

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