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Park-West-Place-Stockton-CA
CaliforniaLoansRetailWestern

CBRE Secures $50M Refinancing for 554,438 SF Shopping Center in Stockton, California

by Amy Works

STOCKTON, CALIF. — CBRE has secured $50 million in refinancing for Park West Place, a retail power center in Stockton. The loan was arranged on behalf of Raider Hill Advisors and Farallon Capital Management with financing provided by a national bank. Richard Henry, Mike Ryan, Brian Linnihan and Shaun Moothart of CBRE represented the sponsorship in the transaction. Built in 2008 on 58.6 acres, Park West Place offers 554,438 square feet of retail space. At the time of financing, the property was 96.4 percent leased to 46 tenants, including Lowe’s, Kohl’s, Sportsman’s Warehouse, Ross Dress for Less and TJ Maxx, with more than 40 percent of the net rentable area leased to investment-grade tenants.

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Power-Commerce-Center-Gilbert-AZ
AcquisitionsArizonaIndustrialLoansWestern

Gantry Arranges $25.5M in Acquisition Financing for Power Commerce Center in Gilbert, Arizona

by Amy Works

GILBERT, ARIZ. — Gantry has secured a $25.5 million permanent loan to provide funds for the acquisition of Power Commerce Center in Gilbert. Situated on 14.2 acres at 3380 S. Power Road, the master-planned industrial park was delivered in 2023 and features 11 buildings offering 20 units totaling 146,000 rentable square feet. Additionally, the asset includes fenced outdoor yard spaces for each building. Patrick Barkley, Chad Metzger and Andrew Christopherson of Gantry represented the borrower, a private real estate investor, in the financing. The fixed-rate loan, which features a 30-year amortization, came from one of Gantry’s correspondent life company lenders. Gantry will service the loan.

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North-Loop-Business-Center-Phoenix-AZ
AcquisitionsArizonaIndustrialOfficeWestern

Regent Properties Sells Two-Building, 124,308 SF Flex Portfolio in Phoenix

by Amy Works

PHOENIX — Regent Properties has completed the sale of a two-building flex industrial and office portfolio in Phoenix’s Deer Valley submarket to a private investor for $22.5 million. Geoffrey Turbow, Anthony DeLorenzo and Ashley Brooks of CBRE represented the seller in the transaction. Located within the North Loop 101 Business Center, the single-story buildings were constructed in 2001. The portfolio includes:

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ConnecticutLoansNortheastRetail

Atlantic Capital Partners Arranges $23M Refinancing of Retail Building in Norwalk, Connecticut

by Taylor Williams

NORWALK, CONN. — Atlantic Capital Partners, the capital markets advisory division of regional brokerage firm Atlantic Retail, has arranged a $23 million loan for the refinancing of a retail building located in the southern coastal Connecticut city of Norwalk. The building at 100 Connecticut Ave. is ground-leased to Lowe’s Home Improvement on a long-term basis. Stephen Joseph and Stephen Hassenflu arranged the fixed-rate loan on behalf of the owner, Hall Investments. The direct lender was not disclosed.

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100-104-E-Graham-Pl-Burbank-CA
AcquisitionsCaliforniaIndustrialWestern

Alta West Partners, OlivePoint Capital Buy 104,795 SF Industrial Campus in Burbank, California

by Amy Works

BURBANK, CALIF. — An affiliate of Alta West Partners and OlivePoint Capital have acquired an industrial manufacturing campus at 100-104 E. Graham Place in Burbank for an undisclosed price. Jeff Sause, Alex Olson, Jalynn Borders and Thomas Gonzalez of JLL Capital Markets secured acquisition bridge financing through a debt fund to support the borrowers’ value-add business plan. Situated on 4.8 acres, the fully gated property offers 104,795 square feet of industrial space spread across five buildings. The asset features up to 28-foot clear heights in warehouse and manufacturing spaces, three grade-level doors and four dock-high loading doors. Additionally, the campus offers two vehicle access points and a configuration suited for both single- and multi-tenant scenarios. Haskel International, a wholly owned subsidiary of Ingersoll Rand, anchors the property for its American headquarters. Haskel, a global company in high-pressure fluid and gas handling solutions, has maintained operations at this location for more than 70 years.

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Leasing ActivityLife SciencesMassachusettsNortheast

Pramand Signs 41,400 SF Life Sciences Lease in Burlington, Massachusetts

by Taylor Williams

BURLINGTON, MASS. — Pramand, a medical technology company, has signed a 41,400-square-foot life sciences lease in Burlington, located northwest of Boston. The space is located within the six-building, 1.2 million-square-foot Blue Sky Center campus that is undergoing a $10 million capital improvement program. Matthew Malatesta, Tyler McGrail, Michael Frisoli, Eric Jeremiah and Connall Chamberlain of Newmark represented the landlord, a joint venture between Nordblom Co. and a global real estate private equity firm, in the lease negotiations. CBRE’s Jon Varholak and Perry Beal represented the tenant.

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DevelopmentIndianaMidwestMixed-Use

Skender to Build $105M Mixed-Use Development in Westfield, Indiana

by Kristin Harlow

WESTFIELD, IND. — Skender will build a $105 million mixed-use project in downtown Westfield, a northern suburb of Indianapolis. Previously known as Jersey 32, the development was recently renamed The Grand on Main. The Westfield City Council approved the project in July. Plans call for 216 residential units, 51,000 square feet of ground-floor retail space and more than 15,000 square feet of commercial office space. Skender will also move into office space within the development. In addition to Skender, the project team includes BW Development and Studio M as designer. Construction is scheduled to begin later this year, with completion slated for 2027.

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DevelopmentMidwestMultifamilyWisconsin

M&R Development Breaks Ground on 278-Unit Luxury Apartment Community in St. Francis, Wisconsin

by Kristin Harlow

ST. FRANCIS, WIS. — M&R Development has broken ground on a 278-unit luxury apartment complex on a bluff overlooking Lake Michigan in St. Francis, about five miles south of downtown Milwaukee. Named The Bluffs on Lake, the project will offer units ranging from studios to three bedrooms. M&R is co-developing the property with Campbell Capital Group LLC, the same firm it teamed with for the development of 42 Hundred on the Lake, a 236-unit luxury building just south of The Bluffs on Lake that opened in 2021. Located on a 21-acre site at 3700 S. Lake Drive, The Bluffs on Lake will comprise a four- and five-story building with one level of underground parking and 8,000 square feet of first-floor retail space, some of which is earmarked for a restaurant with outdoor seating. First deliveries are targeted for late 2026 with preleasing expected to start that fall. The project will feature a business center, meditation room, Zen Garden, self-service package room and two-level fitness center. A two-story clubhouse will include an entertainment lounge, coffee bar, media room, game room and pet spa. A main outdoor courtyard will comprise an infinity-edge pool, grilling stations and bocce ball court. A second courtyard …

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AcquisitionsDevelopmentMichiganMidwestMultifamily

Robertson Brothers Buys 1.8-Acre Multifamily Development Site in Novi, Michigan

by Kristin Harlow

NOVI, MICH. — Robertson Brothers has purchased 1.8 acres of vacant land on 11 Mile Road in Novi. The local developer acquired the site with plans to build a multifamily project. Michael Murphy and Tjader Gerdom of Gerdom Realty & Investment represented the undisclosed seller.

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IndustrialLeasing ActivityNew YorkNortheast

Cushman & Wakefield Negotiates 36,651 SF Industrial Lease Near JFK International Airport

by Taylor Williams

NEW YORK CITY — Cushman & Wakefield has negotiated a 36,651-square-foot industrial lease near JFK International Airport in Queens. The tenant, Horizon Air Freight, will occupy space at Inwood Logistics Center, a 10-building development. Rico Murtha, Helen Paul, Sonny Singh, Thomas Deluca, David Frattaroli, John Giannuzzi and Joseph Hentze Jr. of Cushman & Wakefield represented the landlord, a partnership led by Onyx Equities, in the lease negotiations. The tenant representative was not disclosed.

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