Sunday, July 27, 2025
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AcquisitionsMidwestMinnesotaMultifamily

Marcus & Millichap Arranges $32.5M Sale of Townhome Property in Rochester, Minnesota

by Kristin Harlow

ROCHESTER, MINN. — Marcus & Millichap has arranged the sale of Falcon Heights Townhomes in Rochester for $32.5 million. Built in 2019, the 120-unit rental property comprises floor plans that range in size from 1,250 to 1,400 square feet. Amenities include a fitness center, pool and Wi-Fi throughout the community, which is located at 4400 Red Hawk Drive SE. Brad Barham, Chris Collins, Evan Miller and John Solari of Marcus & Millichap represented the seller, the original developer of the asset. The team also procured the buyer, a private investor.

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AcquisitionsHealthcareIllinoisMidwest

CA Health and Science Trust Acquires 95,000 SF Medical Office Building in Elgin, Illinois

by Kristin Harlow

ELGIN, ILL. — CA Health and Science Trust Inc. (CAHST) has acquired a 95,000-square-foot medical office building in Elgin for an undisclosed price. A publicly traded REIT was the seller. The four-story property is home to tenants such as Derick Dermatology, Suburban Orthopedics and Northwestern Medicine. The building is located at 1600 Randall Road near I-90 and is adjacent to Advocate Sherman Hospital. The latest investment from CAHST is part of an equity commitment of up to $245 million from partners Davidson Kempner Capital Management LP, Monarch Alternative Capital LP and CA Ventures for the acquisition, development and renovation of medical office and life sciences buildings.

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IllinoisLeasing ActivityMidwestOffice

MoLo Solutions Signs 93,710 SF Office Lease in Chicago’s Fulton Market

by Kristin Harlow

CHICAGO — MoLo Solutions, a third-party logistics company within the transportation industry, has signed a 93,710-square-foot office lease at 167 N. Green St. in Chicago’s Fulton Market neighborhood. MoLo connects clients with truck drivers and other shipping solutions. The company plans to expand significantly over the next few years. The property features a meeting area, onsite parking, gym, rooftop garden and NBA-sized basketball court. Kayla Beljan of MB Real Estate represented MoLo in the lease. Paige O’Neil and Annie Aldrich of Shapack Partners represented the undisclosed landlord.

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AcquisitionsIllinoisMidwestMultifamily

Interra Realty Negotiates $5.5M Sale of Apartment Property in Mount Prospect, Illinois

by Kristin Harlow

MOUNT PROSPECT, ILL. — Interra Realty has negotiated the $5.5 million sale of 1050-1110 N. Wheeling Road in Mount Prospect, a northwest suburb of Chicago. The property consists of three buildings and 42 units. Built in 1965, the apartment property was 95 percent leased at the time of sale. Craig Martin of Interra represented the seller, Chicago-based 29th Street Capital, as well as the private buyer. The seller had extensively updated units with vinyl plank flooring, stone countertops, stainless steel appliances and new windows. The buyer plans to make additional minor enhancements.

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AcquisitionsIndustrialNortheast

Arden Group, Arcapita Buy National Industrial Portfolio for $550M

by Taylor Williams

PHILADELPHIA — A joint venture between Philadelphia-based investment firm Arden Group and global investment management firm Arcapita Holdings Group has acquired a portfolio of 18 industrial properties totaling approximately 5 million square feet. The properties are located in seven U.S. markets: Atlanta, Charlotte, Columbus, Dallas, Houston, Philadelphia and Indianapolis. The acquisition is part of the joint venture’s strategic plan to acquire up to $2 billion in multi-tenant industrial assets across the country. The seller(s) was not disclosed. Sheheryar Hafeez,John Huguenard, John Rose, Brian Walsh, Ross Bratcher,  Anderson Granger and Michael Brady of JLL arranged acquisition financing for the joint venture.

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101-109-W.-10th-St.-Manhattan
AcquisitionsMultifamilyNew YorkNortheast

Cushman & Wakefield Arranges $64.7M Sale of Six Manhattan Multifamily Properties

by Taylor Williams

NEW YORK CITY — Cushman & Wakefield has arranged the $64.7 million sale of The Metro Portfolio, a collection of six multifamily properties in Manhattan. Robert Shapiro, Andrew Berry, Michael Gembecki, Charlie Gravina, Austin Fabel and Nicholas Kontos of Cushman & Wakefield represented the seller, Metro Management, in each transaction. The buyer was not disclosed.

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DevelopmentNew JerseyNortheastOffice

Opal Holdings to Renovate 452,133 SF Office Building in Iselin, New Jersey

by Taylor Williams

ISELIN, N.J. — Opal Holdings LLC will renovate Metropark194, a 452,133-square-foot office building in the Northern New Jersey community of Iselin. Capital improvements to the nine-story, transit-served building will include an upgraded lobby, renovations to the café and the addition of a new fitness center. Avison Young will provide construction management services for the project. Construction is scheduled to begin before the end of November and to last about five months.

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AcquisitionsNew YorkNortheastRetail

Cleeman Realty Negotiates Sale of 97,000 SF Shopping Center in Syracuse

by Taylor Williams

SYRACUSE, N.Y. — Cleeman Realty Group, an investment advisory firm with offices in New York City and Miami, has negotiated the sale of Airport Plaza, a 97,000-square-foot shopping center in Syracuse. The sales price was $4.2 million. Airport Plaza was fully leased at the time of sale. Sam Seelenfreund of Cleeman Realty represented the undisclosed buyer and seller in the off-market transaction.

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677-Washington-Blvd.-Stamford
ConnecticutLeasing ActivityNortheastOffice

Philip Morris Signs 71,484 SF Office Headquarters Lease in Stamford, Connecticut

by Taylor Williams

STAMFORD, CONN. — Philip Morris International (NYSE: PM) has signed a 71,484-square-foot office lease for its new headquarters at 677 Washington Blvd. in Stamford, located in the southern coastal part of Connecticut. The lease term is 12 years. The tobacco giant will relocate from 120 Park Avenue in Manhattan beginning in late 2022. Richard Bernstein and Steven Baker of Cushman & Wakefield represented the tenant in the lease negotiations. Peter Duncan and Dana Pike represented the landlord, George Comfort & Sons, on an internal basis.

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Northpark-35-Georgetown
IndustrialLife SciencesMarket ReportsTexasTexas Market Reports

Austin, San Antonio Industrial Markets Both Experience Unprecedented Demand

by Taylor Williams

By Joe Iannacone, senior vice president, Titan Development; and Omar Nasser, senior vice president, AQUILA Commercial The Central Texas industrial market stretches between Austin and San Antonio along the Interstate 35 “Innovation” Corridor, an approximately 80-mile expanse that encompasses some of the fastest-growing cities in the nation. Austin, now the 10th-largest city in the nation population-wise, continues to see unprecedented growth in the tech, e-commerce and household industry sectors.  Most notably, Tesla decided to construct its Cybertruck Gigafactory in East Austin along State Highway 130, which has and will be a boon to the region. The electric car maker also recently announced plans to relocate its headquarters from Silicon Valley to Austin.  San Antonio, the nation’s seventh-largest city, has seen continued growth in the automotive, financial, life sciences and food and beverage sectors. Large companies continue to flock to the region to establish a major presence, including USAA, H-E-B and Toyota. The markets in between Austin and San Antonio from south to north —  Schertz, New Braunfels, San Marcos, Kyle and Buda — have benefitted from the synergies of both markets due to their location and strong economies. As a result of the continued economic activity and with the effects …

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