NORTH ANDOVER, MASS. — Marcus & Millichap has brokered the $4.8 million sale of a 30,855-square-foot industrial flex building located outside of Boston in North Andover. Completed in 1997, the building at 45 Beechwood Drive features 11,500 square feet of office space and 19,355 square feet of warehouse space, as well as two loading docks, one drive-in bay and a clear height of 14 feet. Mattias Edenkrans, Harrison Klein and Luigi Lessa of Marcus & Millichap represented the seller and procured the buyer, both of which were private entities that requested anonymity, in the transaction..
PARKER, COLO. — An affiliate of Meridian Senior Living (Meridian) has acquired Pine Grove Crossing, a seniors housing property in Parker, from a real estate private equity group for an undisclosed price. Meridian will manage the community on behalf of an institutional investor. Completed in 2018, Pine Grove Crossing offers 100 assisted living and 27 memory care units in a three-story building. The community offers weekly shuttle bus excursions, a private transport services for appointments, beauty salon and barbershop, gym with daily fitness classes, library and outdoor patio space. Additionally, the property includes all-day, full-service dining and an onsite bistro for coffee and pastries. At the time of sale, Pine Grove Crossing was 90 percent occupied. The property is situated on 4.4 acres at 19160 Cottonwood Drive. JLL Capital Markets Seniors Housing team represented the seller in the deal.
TUCSON, ARIZ. — TSB Capital Advisors has secured construction financing for a 532-bed student housing development near the University of Arizona campus in Tucson. The project, which is being developed by Capstone Collegiate Communities, will offer units in studio, one-, two-, three-, four-, five- and six-bedroom configurations. Shared amenities are set to include a resort-style pool, sundeck, coffee bar, courtyard, multimedia room, hammock lounge, fitness center, cold plunge, sauna, clubhouse, grilling stations, tanning rooms, green spaces, private and group study lounges and an outdoor kitchen and dining area. Ankrom Moisan is providing architectural, interior design and furniture, fixtures and equipment (FF&E) services for the project, which is slated for completion in fall 2027. An undisclosed Fortune 100 insurance company provided the financing.
WOODRIDGE, ILL. — Red Mountain Group Inc. has acquired Woodridge Plaza, a 50,809-square-foot neighborhood retail center in the Chicago suburb of Woodridge. The purchase price was undisclosed. Anchor tenants include Walgreens, Dunkin’ and Anytime Fitness, which is opening soon. There is also a 7-Eleven gas station. Red Mountain Group plans to make immediate improvements to enhance the property’s aesthetic appeal and functionality.
SOUTH BEND, IND. — Mary Cook Associates (MCA) has completed the interiors of The 87, a luxury student housing community in South Bend near the campuses of the University of Notre Dame, Holy Cross College and St. Mary’s College. Developed by Toll Brothers Campus Living, the 810-bed community welcomed its first residents in the fall. The amenity spaces and common areas celebrate Notre Dame’s academic and athletic legacy. Situated east of the Notre Dame campus on the former site of the Turtle Creek and Campus View apartments, The 87 totals 431,000 square feet and features a mix of one- to four-bedroom units and townhomes. Amenities include a fitness center, tech-enabled study lounges, gaming areas, a content creation studio, social lounge, rideshare waiting area, meeting rooms and six resort-style courtyards. The “All-Pro Lounge” features a wall collage of vintage athletic equipment and memorabilia, including boxing gloves and a fencing helmet, as well as ceiling trim that mimics the end zone graphics of Notre Dame’s football field. The property is named for 1887, the year when Notre Dame established its first football team. The 87 marks MCA’s third collaboration with Toll Brothers Campus Living on student housing interiors.
SOUTHFIELD, MICH. — Community Housing Capital (CHC) and the Federal Home Loan Bank of Atlanta (FHLBank Atlanta) have provided financing for John Grace Arms, an affordable seniors housing project in Southfield. Sourced from FHLBank Atlanta’s Affordable Housing Program (AHP) general fund and administered through CHC, a member of FHLBank, the financing totals $750,000 in grant funding. An adaptive redevelopment of a historic school building, John Grace Arms will total 60 rental units with 5,000 square feet of community space. MiSide is the developer of the project, which is scheduled for completion in 2026.
ALSIP, ILL. — Quantum Real Estate Advisors Inc. has negotiated the sale of a roughly 43,000-square-foot flex industrial property in Alsip for an undisclosed price. Located at 4800-4824 129th St., the property was fully leased to a mix of local tenants at the time of sale. Dan Waszak of Quantum represented the buyer, a Cincinnati-based investor. Joseph Coombes of Market Commercial Real Estate represented the seller, an Indianapolis-based group.
SAN BERNARDINO, CALIF. — Progressive Real Estate Partners has arranged the $6.8 million sale of a multi-tenant commercial flex center located at 165 E. Hospitality Lane in San Bernardino. The 44,290-square-foot property comprises two buildings with suites ranging in size from 950 square feet to 1,930 square feet. Originally built in 1980, the recently renovated center was 93 percent leased at the time of sale to 24 tenants, including retail, restaurant, healthcare, education, fitness, finance and office businesses. Situated in the Tri-City Commons/Hospitality Lane District, the center is part of a larger Inland Empire commercial hub totaling more than 4.4 million square feet of office, industrial, retail and hospitality space. Greg Bedell and Lance Mordachini of Progressive represented the Los Angeles-based seller in the transaction. The undisclosed buyer was an Orange County-based private investor.
ROSELLE, ILL. — Rieder NA, a manufacturer of concrete facades, has signed a 30,300-square-foot industrial lease at 20 Presidential Drive in Roselle within the North DuPage submarket. Jeff Janda and Mike Plumb of Lee & Associates of Illinois represented Tripar International Inc., which owns and occupies the rest of the 63,978-square-foot building. David Haigh of NAI Hiffman represented the tenant.
TORRANCE, CALIF. — Hanley Investment Group has arranged the $5.9 million sale of a newly constructed, single-tenant property in Torrance, a city in the South Bay area of Los Angeles. Chipotle Mexican Grill occupies the building — which totals 3,570 square feet — on a 15-year, corporate guaranteed, triple-net lease. Bill Asher, Jeff Lefko and Sean Cox of Hanley represented the buyer, a Los Angeles-based private investor, in the all-cash transaction. Christopher Huddleston of The Sher Group represented the seller, a Los Angeles-based private investor.