Friday, July 18, 2025
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Monroe-Marketplace-Selinsgrove-Pennsylvania
AcquisitionsNortheastPennsylvaniaRetail

JLL Negotiates $44.8M Sale of Grocery-Anchored Power Center in Selinsgrove, Pennsylvania

by Taylor Williams

SELINSGROVE, PA. — JLL has negotiated the $44.8 million sale of Monroe Marketplace, a 372,794-square-foot retail power center in Selinsgrove, about 170 miles northwest of Philadelphia. Giant Food Stores anchors the property, and other soft goods retailers include T.J. Maxx, Dick’s Sporting Goods, Kohl’s, Ross Dress for Less, Michaels, Old Navy, PetSmart and Ulta Beauty. Restaurant users include Longhorn Steakhouse and Buffalo Wild Wings. Christopher Munley, Jim Galbally and Colin Behr of JLL represented the undisclosed institutional seller in the transaction. Acadia Realty Trust purchased the asset for an undisclosed price.  

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North-Providence-Marketplace
AcquisitionsNortheastRetailRhode Island

Greenberg Gibbons Acquires 112,497 SF Shopping Center in North Providence, Rhode Island

by Taylor Williams

NORTH PROVIDENCE, R.I. — Maryland-based investment and development firm Greenberg Gibbons has acquired North Providence Marketplace, a 112,497-square-foot shopping center in Rhode Island. Grocer Shaw’s is the anchor tenant of the property, which was 82 percent leased at the time of sale to tenants such as Dollar Tree, Sally Beauty Supply, H&R Block and EbLens. Justin Smith, Chris Peterson, Bryan Anderson, Ben Starr, Sam Koonce and Molly Lynch of Atlantic Capital Partners represented Greenberg Gibbons and the unnamed seller in the transaction. The sales price was not disclosed, but Greenberg Gibbons acquired the asset in conjunction with a 92,000-square-foot center in Maryland for a combined $34.6 million.

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AcquisitionsIndustrialNew JerseyNortheast

Cushman & Wakefield Brokers $34.5M Sale of Industrial Asset in Elizabeth, New Jersey

by Taylor Williams

ELIZABETH, N.J. — Cushman & Wakefield has brokered the $34.5 million sale of a 240,000-square-foot industrial asset located within a Qualified Opportunity Zone in the Northern New Jersey community of Elizabeth. Building features include 58 loading positions, 185-foot truck court depths and an adjacent lot for tractors/employee parking. Gary Gabriel, Kyle Schmidt, Ryan Larkin, Eli Millstein, Chuck Fern and Gary Casaletto represented the undisclosed seller in the transaction. The buyer was also undisclosed. The property was fully leased to seven tenants at the time of sale.

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400-E-17th-St-Costa-Mesa-CA
Conference CoverageFeaturesNet Lease

Rising Deal Volume Favors Sellers in Net-Lease Investment Market, Says InterFace Panel

by Taylor Williams

NEW YORK CITY — As more players enter the market, rising demand for net-leased commercial properties in the United States is leading to higher prices and lower capitalization rates, making it a good time to be a seller of such assets. According to a new report by national brokerage firm The Boulder Group, average cap rates for net-leased retail, office and industrial properties fell by 22, 15 and 19 basis points, respectively, between the second and third quarters of this year. The number of net-leased retail and office properties on the market both grew between the second and third quarters of this year, but the report noted that the sector is still defined by “significant investor demand combined with a limited supply of quality assets.” Like any other asset class, certain subcategories of net-leased product are performing better than others. Due to the compounding forces of e-commerce and a global pandemic, industrial remains a pack leader while office is shrouded with uncertainty. By the same logic, in the net-lease retail space, properties leased to essential service retailers and quick-service restaurants with outdoor seating are among the preferred investment vehicles. But on a broader level, institutional investors are growing their presence …

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Bridge-Point-Tacoma-2MM-Tacoma-WA
AcquisitionsDevelopmentIndustrialWashingtonWestern

Bridge Industrial Acquires Land Site for 2.5 MSF Bridge Point Tacoma Industrial Development

by Amy Works

TACOMA, WASH. — Bridge Industrial has purchased a 160-acre land assemblage for the development of Bridge Point Tacoma 2MM, a 2.5 million-square-foot industrial project. Texas-based BNSF Railway Co. sold the 19 land parcels for $158 million. The site has been vacant and in disrepair for several years, and Bridge has committed to maintaining the remediations performed prior to its acquisition and any future required remediation for its proposed development. Located at 5802 S. Burlington Way, Bridge Point Tacoma 2MM will span four buildings and feature approximately 20 acres of trailer storage space. The buildings will offer 40-foot clear heights and expansive truck courts, with tenant spaces ranging from 100,000 square feet to 1.5 million square feet. Bridge plans to break ground on the campus in August 2022, with completion slated for summer 2023. Todd Clarke, Matt Murray, Matt McLennan and Ty Clarke of Kidder Mathews represented Bridge Industrial in the transaction.

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Clear-Creek-Crossing-MOB-Wheat-Ridge-CO
ColoradoDevelopmentHealthcareOfficeWestern

NexCore to Develop 130,000 SF Medical Office Building for SCL Health in Wheat Ridge, Colorado

by Amy Works

WHEAT RIDGE, COLO. — SCL Health has selected NexCore to develop Clear Creek Crossing Medical Office Building on the Lutheran Medical Campus in Wheat Ridge. The five-story, 130,000-square-foot facility will be the first medical office building on the new 28-acre hospital campus, which will replace SCL Health’s existing Lutheran Medical Center 3.5 miles away. Construction began in June for the new campus, which will be part of the planned 100-acre Clear Creek Crossing mixed-use development at the southwest corner of State Highway 58 and Interstate 70. NexCore plans to break ground on the medical office building in late 2022, with completion slated for early 2024. The new facility will include SCL Health outpatient clinics and services, as well as an ambulatory surgical center.

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Marketplace-Beaumont-CA
AcquisitionsCaliforniaRetailWestern

JLL Capital Markets Negotiates $37.5M Sale of 187,851 SF Marketplace Beaumont in California

by Amy Works

BEAUMONT, CALIF. — JLL Capital Markets has brokered the sale of Marketplace Beaumont, a shopping center situated on 51.7 acres at 1604, 1693 and 1642 E. Second St. in Beaumont. Completed in 2008, the 187,851-square-foot property was 91 percent occupied at the time of sale. Tenants include ALDI, Ross Dress for Less, Best Buy, Petco and Bed Bath & Beyond. Gleb Lvovich and Daniel Tyner of JLL Retail Capital Markets represented the buyer, while Aldon Cole and Pat Burger of JLL Debt Advisory team represented the seller, a private family trust that originally developed the center, in the deal. JLL worked with Brixton Capital to source the transaction and structure the existing financing.

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AlaskaDevelopmentLoansMultifamilySeniors HousingWestern

Live Oak Funds $15M Construction Loan for Seniors Housing Community in Fairbanks, Alaska

by Amy Works

FAIRBANKS, ALASKA — Live Oak Bank has provided a $15 million construction loan for owner-operator Frontier Partners LLC to support the development of a 68-unit assisted living community in Fairbanks. The community will consist of 50,680 square feet and will be situated on 7.8 acres. The debt was structured into two loans utilizing the SBA 504 program. The interim construction loan will be held by Live Oak Bank in the amount of $10.2 million, and the second bridge loan prior to the 504 Debenture will be in the amount of $4.8 million.

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200-Travis-Blvd-Fairfield-CA
AcquisitionsCaliforniaRetailWestern

SRS Real Estate Arranges $6.7M Sale of Grocery Outlet-Occupied Property in Fairfield, California

by Amy Works

FAIRFIELD, CALIF. — SRS Real Estate Partners has brokered the sale of a retail property located at 200 Travis Blvd. in Fairfield. A West Coast-based owner and operator of retail properties sold the asset to a Los Angeles-based private 1031 exchange investor for $6.7 million. Grocery Outlet occupies the 33,590-square-foot property, which was built in 1977 on 4.1 acres. Matthew Mousavi and Patrick Luther of SRS Real Estate Partners’ National Net Lease Group represented the seller and buyer in the deal.

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Goodtime Hotel
FloridaHospitalityLoansSoutheast

Walker & Dunlop Arranges $164M in Financing for Goodtime Hotel in Miami Beach

by Julia Sanders

MIAMI BEACH, FLA. — Walker & Dunlop has secured $164 million in financing for The Goodtime Hotel in Miami Beach. Groot Hospitality opened the hotel in April 2021. The Goodtime Hotel has 266 rooms, two restaurants, a 30,000-square-foot pool club, 45,000 square feet of ground-floor retail, a gym, library and 242 parking spaces. Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Ari Hirt and Sean Bastian of Walker & Dunlop arranged the financing. JP Morgan is the lender for the three-year, interest-only bridge loan with two one-year extension options. The borrower is Dreamscape.

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