CENTERVILLE, OHIO — Oberer Realty Services Ltd. has unveiled plans to build the final retail portion of The Cornerstone of Centerville North in Centerville, a suburb of Dayton. The 10,000-square-foot development will be known as Shoppes at the Village of Cornerstone and will be situated adjacent to a Costco location as well as Cooper’s Hawk Restaurant & Winery. Oberer plans to break ground this fall and wrap up construction in the second quarter of 2023. The desired tenant mix will include restaurant and specialty retailers either not yet in the market or looking for expansion opportunities, according to Oberer.
SEATTLE — Oxford Properties Group has completed the conversion of the 136,000-square-foot Boren Lofts office building into Boren Labs, a life sciences facility in downtown Seattle. Located at 1930 Boren Ave. in the South Lake Union neighborhood, the building features 15,000-square-foot floor plates, pre-built lab suites and move-in-ready research and development suites. The 10-story building features nine levels of labs and support office space, ground-level retail and a newly built amenity floor, which features a shared rooftop deck and conferencing center, fostering collaboration between occupants. The converted building features 15-foot floor-to-floor heights, fully upgraded MEP systems and ample subsurface parking. Each floor also features natural light and a private deck with outdoor access. Current tenants include Icosavax, Tune Therapeutics and GentiBio.
LITTLETON, COLO. — Security Properties and Tokyu Land US Corp. have jointly purchased the Summit Riverside multifamily community in Littleton for $78.5 million. The seller was not disclosed. Summit Riverside is located on the South Platte River, comprising 21 residential buildings and 248 studio, one- and two-bedroom units with an average unit size of 777 square feet. Security Properties now owns five properties in Colorado. The residential complex is Tokyu’s first investment in the Denver metropolitan area. Security Properties Residential will manage the property.
STAMFORD, CONN. — Cushman & Wakefield has arranged a loan of an undisclosed amount for the refinancing of The Residence at Summer Street, a 104-unit seniors housing property in Stamford. The five-story, newly built facility offers assisted living and memory care services. Richard Swartz, Jay Wagner, Jim Dooley and Joseph Carbone of Cushman & Wakefield arranged the financing through VIUM Capital and its affiliate Merchants Bank of Indiana. The borrower was a partnership between Virtus and LCB Senior Living.
LAS VEGAS — Greenlite Partners, an affiliate of WG Group, has completed the disposition of an office building located at 9075 W. Diablo Drive in Las Vegas. KB Acquisitions, part of Kingsbarn Realty Capital, acquired the property for $26 million, or $387 per square foot. Originally constructed in 2008, the three-story, multi-tenant property features 67,145 square feet of Class A office space. At the time of sale, the property was 97 percent leased. Marlene Fujita Winkel, Emily Brun and Alex Casingal of Cushman & Wakefield’s Private Capital Group in Las Vegas represented the seller in the deal.
DENVER — NorthPeak Commercial Advisors has arranged the sale of an apartment building located at 2920 W. 32nd Ave. in Denver. The property traded for $12.9 million, or $641 per square foot. The names of the seller and buyer were not released. The 27,932-square-foot residential building features 41 apartments. Kevin Calame and Matt Lewallen of NorthPeak Commercial Advisors represented the buyer and seller of the transaction.
SANTA MONICA, CALIF. — Matthews Real Estate Investment Services has arranged the sale of a self-storage facility located at 1620 14th St. and 1621 Euclid St. in Santa Monica. Invesco Real Estate acquired the asset. The seller and price were not released. The 56,490-square-foot facility features 1,070 units. The two-parcel facility sits on 1.3 acres at the intersections of Colorado Avenue and 14th Street. Bill Pedersen, Shane Avera and Maxx Bauman of Matthews represented the seller in the transaction.
FREEHOLD, N.J. — CBRE has negotiated the $15.2 million sale of six industrial buildings totaling 90,677 square feet within Freehold Business Park in Central New Jersey. The sale included an additional acre that can support 13,750 square feet of new development. The park was built on 14.2 acres in 2007 and renovated in 2021. Charles Berger, Elli Klapper, Mark Silverman, Jeremy Wernick, Lou Belfer and Scott Belfer of CBRE represented the seller, Asbury Avenue Partners LLC, in the transaction. The buyer was an entity doing business as MT Freehold BPD LLC.
NEW YORK CITY — Locally based investment firm Seavest Healthcare Properties has acquired a 57,000-square-foot medical office building located at 355 W. 52nd St. in Manhattan. NYU Langone Health anchors the eight-story building, which was fully leased at the time of sale to an array of specialty care practitioners. The seller and sales price were not disclosed.
FORT LAUDERDALE, FLA. — Newmark has arranged a $64.5 million loan for the development of Advantis Station, a 252-unit midrise apartment community situated within Fort Lauderdale’s Flagler Village. The borrower is a joint venture between Midtown Capital Partners and Prospect Real Estate Group. Dustin Stolly, Jordan Roeschlaub, Daniel Matz, Nick Scribani, Daniel Fromm, Dan Morin and Tim Polglase of Newmark arranged the loan through Forum Real Estate Group and Bank OZK. Advantis Station will be situated on a 1.3-acre site at the intersection of NE 3rd Ave. and NE 6th Street, which is near a Brightline station and Peter Feldman Park. The property will feature studio, one-, two-, three- and four-bedroom units, as well as over 300 parking spaces and ground-floor retail space. The construction timeline was not disclosed.