Saturday, August 23, 2025
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AcquisitionsIndustrialMidwestMinnesota

MDH Partners Purchases 285,582 SF Industrial Facility in Rogers, Minnesota

by Kristin Harlow

ROGERS, MINN. — MDH Partners has purchased Rogers Logistics Center for an undisclosed price. The 285,582-square-foot industrial facility is located at 20000 S. Diamond Lake Road in Rogers, a northwest suburb of Minneapolis. Constructed in 2004, Rogers Logistics Center features a clear height of 32 feet, 33 exterior docks and 215 car parking spaces. Developed as a build-to-suit for Archway Marketing Services Inc., the property has been fully occupied since completion. Archway’s current lease runs through January 2026. Judd Welliver and Bentley Smith of CBRE represented the undisclosed seller. The acquisition marks the first purchase in Minnesota for Atlanta-based MDH. Houston Hawley of MDH led the acquisition on behalf of the firm.

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DevelopmentIndustrialIowaMidwest

Russell Breaks Ground on First Building at 95-Acre Industrial Park in Davenport, Iowa

by Kristin Harlow

DAVENPORT, IOWA — Iowa-based construction and development firm Russell has broken ground on the first building at Russell Industrial Park in Davenport, one of the Quad Cities. The 251,100-square-foot building is a build-to-suit for an undisclosed tenant. The building marks the first of six anticipated projects at the 95-acre site. Russell plans to soon break ground on the second building, a 300,000-square-foot speculative project slated for completion in the fourth quarter of 2022. Marcus Pitts, Michael Minard and Austin Hedstrom of JLL represented Russell in the build-to-suit lease.

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AcquisitionsDevelopmentMultifamilyNew JerseyNortheastOffice

AvalonBay Buys Princeton Office Buildings, Plans Multifamily Conversion

by Taylor Williams

PRINCETON, N.J. — Virginia-based AvalonBay Communities (NYSE: AVB) has purchased two office buildings totaling approximately 110,000 square feet in Princeton with plans to redevelop the site into a 221-unit apartment community and an 80-unit affordable seniors housing property. The future development will feature a four-story apartment building with an elevator, as well as three-story walk-up buildings and high-end luxury rental townhomes. A construction timeline was not disclosed. Jeffrey Dunne, Jeremy Neuer, Steven Bardsley, David Gavin, Travis Langer and Zach McHale of CBRE represented the previous owner and seller buildings, KABR Group, which bought the property in 2018 and shortly thereafter executed a sales contract with AvalonBay.

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AcquisitionsMidwestRetailWisconsin

Stan Johnson Co. Arranges $2.4M Sale of Property Net Leased to Sherwin-Williams in Milwaukee

by Kristin Harlow

MILWAUKEE — Stan Johnson Co. has arranged the sale of a 3,500-square-foot retail property net leased to Sherwin-Williams in Milwaukee for $2.4 million. The building is located at 1216 S. 1st St. and was constructed in 2018. Blaise Bennett of Stan Johnson represented the seller, a Wisconsin-based developer. A Texas-based private equity group was the buyer. The sales price represents a cap rate of 5.1 percent, a new record for a Sherwin-Williams property in the Midwest, according to Stan Johnson.

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IndustrialLeasing ActivityMichiganMidwest

Vintage King Audio Signs 17,220 SF Industrial Lease in Troy, Michigan

by Kristin Harlow

TROY, MICH. — Vintage King Audio has signed a 17,220-square-foot industrial lease at 2032 Heide St. in Troy. Sean Jamian of Dominion Real Estate Advisors LLC represented the undisclosed landlord in the seven-year lease. Sam McLean of Team Core represented the tenant, which is an audio-visual equipment supplier.

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CaliforniaCivicDevelopmentOfficeWestern

LA Chargers Unveil Plans for New Team Headquarters, Training Facility in El Segundo

by Jeff Shaw

EL SEGUNDO, CALIF. — The Los Angeles Chargers have reached an agreement with Continental Development Corp. and Mar Ventures Inc. to build its new corporate headquarters and training facility on a 14-acre site in El Segundo, about 20 miles southwest of Los Angeles. Designed by Gensler Sports, the project will be situated less than three miles from the Los Angeles International Airport and seven miles from SoFi Stadium, where the football team plays. The Chargers had been searching for a location for more than four years, according to Dean Spanos, owner and chairman of the board. Special features within the headquarters will include a rooftop hospitality club, full e-sports gaming and content studios and a 3,100-square-foot media center. The main building will span nearly 145,000 square feet. There will also be three natural grass fields with an artificial turf perimeter that can be taken in from 7,600 square feet of elevated outdoor terrace space. Outdoor amenities will include an additional 3,400-square-foot elevated turf area and a two-lane lap pool for player rehabilitation. The field area is designed to accommodate bleacher seating for more than 5,000 people. With 348 onsite parking spaces and accommodations available for offsite parking, the Chargers will …

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AcquisitionsIndustrialNew JerseyNortheast

Cushman & Wakefield Brokers Sale of 400,000 SF Industrial Facility in Middlesex, New Jersey

by Taylor Williams

MIDDLESEX, N.J. — Cushman & Wakefield has brokered the sale of a 400,000-square-foot industrial facility in Middlesex, about 40 miles southwest of New York City. Built on 30.3 acres in 2021, the property offers a clear height of 36 feet, 38 loading positions, 334 car and 281 van parks and 130-foot truck court depths. Gary Gabriel, Kyle Schmidt, David Bernhaut, Ryan Larkin, Jules Nissim and Kimberly Bach of Cushman & Wakefield represented the seller, Rockefeller Group, in the transaction. A fund sponsored by CBRE Investment Management acquired the asset for an undisclosed price.

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ConnecticutLoansMultifamilyNortheast

JLL Provides $20.4M Agency Loan for Refinancing of Multifamily Asset in East Haven, Connecticut

by Taylor Williams

EAST HAVEN, CONN. — JLL has provided a $20.4 million Freddie Mac loan for the refinancing of 510 Main, a 214-unit multifamily asset in East Haven, located in the southern coastal part of the state. The property features studio and one-bedroom units that range in size from 425 to 482 square feet and include private balconies/patios. The amenity package consists of a fitness center, coffee bar, a Wi-Fi resident lounge and a package locker system. Elliott Throne, Mona Carlton, Alex Staikos and Amit Kakar of JLL originated the 10-year, fixed-rate loan on behalf of the borrower, Beachwold Residential.

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Leasing ActivityNew YorkNortheastRetail

Target to Open 90,000 SF Store at Macerich’s Kings Plaza Shopping Center in Brooklyn

by Taylor Williams

NEW YORK CITY — Target will open a 90,000-square-foot store at Kings Plaza, an enclosed shopping center by California-based REIT Macerich (NYSE: MAC) in Brooklyn. Target will backfill a three-story anchor building previously occupied by J.C. Penney. An expected opening date was not released. Other retailers at Kings Plaza include Macy’s, Zara, Burlington, Primark and Michael Kors.

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