Thursday, July 10, 2025
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Rose-Garden-Biz-Park-Phoenix-AZ
AcquisitionsArizonaIndustrialWestern

BKM Capital Partners Sells 159,304 SF Rose Garden Business Park in Phoenix

by Amy Works

PHOENIX — Newport Beach, Calif.-based BKM Capital Partners has completed the sale of Rose Garden Business Park, a small-bay industrial park on 10.2 acres in Phoenix. An undisclosed affiliate of BKM Capital Partners acquired the asset for $35.1 million. Located at 1801-1831 W. Rose Garden Lane and 20801-20823 N. 19th Ave., the property consists of nine buildings offering a total of 159,304 square feet of industrial space. Originally built in 1987, Rose Garden Business Park features 18-foot clear heights, 43 grade-level doors and 16 dock doors. At the time of sale, the property was fully leased. Bob Buckley and Tracy Cartledge of Cushman & Wakefield, in collaboration with Will Strong, Michael Matchett, Molly Hunt, Jack Stamets and Madeline Warren of Cushman & Wakefield’s National Industrial Advisory Group – Mountain West, represented the seller in the deal.

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21300-Vanowen-St-Los-Angeles-CA
AcquisitionsCaliforniaIndustrialWestern

Marcus & Millichap Brokers Sale of 50,000 SF Industrial Property in Los Angeles

by Amy Works

LOS ANGELES — Marcus & Millichap has arranged the purchase of an industrial building located at 21300 Vanowen St. in Los Angeles. The asset traded for $16.3 million. Adam Abushagur, Ari Greene and Joshua Cohan of Marcus & Millichap represented the buyer, a limited liability company, in the deal. Situated on 2.4 acres, the single-tenant, 50,000-square-foot distribution center offers 16-foot clearances and 11 dock-high and grade-level doors. At the time of sale, the property was occupied by a FedEx Ship Center on a triple-net lease at market rate.

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DevelopmentIllinoisIndustrialMidwest

Dermody to Build 460,428 SF Logistics Facility in Romeoville, Illinois

by Kristin Harlow

ROMEOVILLE, ILL. — Dermody has acquired land at 251 S. Pinnacle Drive in the Chicago suburb of Romeoville with plans to build LogistiCenter at Romeoville, a 460,428-square-foot logistics facility. Construction will begin this spring, with completion slated for the first quarter of 2026. The site is near I-55, I-355, I-80, I-294 and Illinois Route 53. It is also in close proximity to the Union Pacific Joliet Intermodal Terminal and BNSF Logistics Park, Chicago. The project will feature a 3,000-square-foot spec office, clear height of 40 feet, 51 exterior dock-high doors, four drive-in doors, 160 parking stalls, up to 141 trailer spaces, ESFR fire protection and LED lighting. The divisible facility will be able to accommodate a wide variety of uses, including advanced manufacturing, e-commerce fulfillment, distribution and warehousing. John Whitehead and Adam Roth of NAI Hiffman represented Dermody in the transaction.

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AcquisitionsMidwestOhioRetail

Automotive Properties REIT Acquires Tesla Collision Center in Suburban Columbus for $17.8M

by Kristin Harlow

DUBLIN, OHIO — Automotive Properties REIT has acquired a Tesla-occupied collision center in the Columbus suburb of Dublin for $17.8 million. The property consists of a roughly 94,000-square-foot Tesla collision service center facility on 6.3 acres along a commercial corridor at 5600 Britton Parkway near I-270. The REIT funded the purchase of the asset with cash on hand and by drawing on its revolving credit facilities. The seller was a third party.

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AcquisitionsIllinoisMidwestMultifamily

Eastham Capital Sells Ridgeland Station Apartment Community in Chicago Ridge for $10M

by Kristin Harlow

CHICAGO RIDGE, ILL. — Eastham Capital has sold Ridgeland Station, an 84-unit apartment community in Chicago Ridge, for $10 million. Eastham acquired the property for the portfolio of Eastham Capital Fund V LP in partnership with Bender Cos. in February 2019. Ridgeland Station marked the first collaboration between Eastham and Bender. To date, the partners have co-invested in nine projects with a 10th in the pipeline. Under Bender’s management, Ridgeland Station maintained strong occupancy levels and was 95 percent leased at the time of disposition. Average rents increased 9.7 percent year over year. The community consists of a mix of one- and two-bedroom units.

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DevelopmentHealthcareMidwestMissouri

MBG Underway on 60,000 SF Ignite Medical Resort in St. Peters, Missouri

by Kristin Harlow

ST. PETERS, MO. — General contractor MBG is underway on construction of the first Ignite Medical Resort in the St. Louis area. Located in St. Peters, the project is slated for completion in August. The single-story, 60,000-square-foot facility will feature 69 private rooms and 12 semi-private rooms. With elements of high-end hospitality of a 5-star luxury resort, the development features an advanced care model called “LuxeRehab.” The property will feature a lobby, reception desk, café, large windows, landscaped courtyard, two dining rooms, a full commercial kitchen and salon. Rehabilitation services will deploy the latest technology. In addition, Ignite Medical Resort will feature a mock home with a full kitchen, laundry and bathroom where patients are taught and evaluated on readiness to return to independent living. Ignite Medical Resort operates 25 facilities across six states specializing in short-term rehabilitation for a variety of medical needs. Physical, occupational and speech therapy services are provided seven days a week. The project marks the first in the St. Louis market for developer Leo Brown Group.

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AcquisitionsIllinoisIndustrialMidwest

Brown Commercial Group Brokers $2.4M Sale of Industrial Building in Des Plaines, Illinois

by Kristin Harlow

DES PLAINES, ILL. — Brown Commercial Group has brokered the sale of a 22,050-square-foot food distribution building in the Chicago suburb of Des Plaines for $2.4 million. The property was customized for food distribution and includes nearly 6,000 square feet of cooler space and 2,530 square feet of walk-in freezer space. Mason Hezner and Candace Scurto of Brown represented the seller, Athos Rawls Road LLC. Joe Karmin of Transwestern represented the buyer, GCB LLC, which plans to use the space for a similar food distribution business.

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Leasing ActivityRetailTexas

EōS Fitness to Open 45,000 SF Gym at West 8 Shopping Center in Northwest Houston

by Taylor Williams

HOUSTON —  EōS Fitness will open a 45,000-square-foot gym at West 8 Shopping Center in northwest Houston. The Dallas-based operator is backfilling a space at 9244 W. Sam Houston Parkway N that was previously occupied by LA Fitness. The opening is slated for 2026. Locally based development and investment firm NewQuest owns the center and represented itself in the lease negotiations.

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CivicDevelopmentTexas

Koehler Construction Breaks Ground on 9,400 SF Athletics Center at Texas Lutheran University in Seguin, Texas

by Taylor Williams

SEGUIN, TEXAS — Koehler Construction has broken ground on the 9,400-square-foot Lundquist Athletics Center at Texas Lutheran University in Seguin, located northeast of San Antonio. Designed by Pfluger Architects and named after sportscaster and alumnus Verne Lundquist, the facility will feature a weight room and flexible spaces that serve as locker rooms, players’ lounges and team meeting spaces. Completion is slated for the fall.

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Atlas-Starling-Jersey-City
LoansMultifamilyNew JerseyNortheast

JLL Provides Two Agency Loans Totaling $81.2M for Refinancing of Jersey City Apartment Complexes

by Taylor Williams

JERSEY CITY, N.J. — JLL has provided two Freddie Mac loans totaling $81.2 million for the refinancing of Atlas and Starling, two newly constructed apartment complexes totaling 208 units in the Bergen-Lafayette section of Jersey City. Located at 270 Johnston St., Atlas comprises 169 apartments, including 11 affordable units. Starling is located at 66 Monitor St. and offers 39 apartments with three affordable units. Income restrictions for the affordable units were not disclosed. Each property also features two commercial spaces. Thomas Didio, Thomas Didio Jr. and Michael Mataras of JLL originated the loans, both of which carry five-year terms and fixed interest rates. The borrower is New York City-based Alpine Residential, which developed the properties in partnership with local firm Fields Grade.

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