Property Type

Palm Tree Club to Open 11,000 SF Restaurant, Rooftop Lounge in Kansas City, Missouri

by Abby Cox June 12, 2025

KANSAS CITY, MO. — Culinary and entertainment concept Palm Tree Club will open an 11,000-square-foot restaurant and rooftop lounge in Kansas City’s Power & Light District. Designed by Beth Bloom Designs, the two-level space will include a full restaurant, private dining room and an open-air rooftop. The first story will comprise the custom main bar and ample seating for guests, while an elevated DJ booth will be situated just off the main floor with VIP seating and a dance floor. Additionally, the upstairs rooftop lounge will include an illuminated tree and a 100-inch TV. Palm Tree Club Kansas City is slated to open this fall.

June 12, 2025

Acquisitions Indiana Midwest Multifamily

Marcus & Millichap Negotiates Sale of 80-Unit Multifamily Property in Indianapolis

by Abby Cox June 12, 2025

INDIANAPOLIS — Marcus & Millichap has facilitated the sale of Arlington Village, an 80-unit multifamily property located in Indianapolis. Originally built in 1963, the complex comprises 20 one-bedroom and 60 two-bedroom apartments across eight buildings. Renovations to the property will include cosmetic updates and capital improvements, as well as the utilization of basement space. The buyer also plans to convert some of the larger two-bedroom units into three-bedrooms. Jack Friskney and Aaron Kuroiwa of Marcus & Millichap’s Indianapolis office marketed Arlington Village on behalf of the seller and procured the buyer, both based in New York. The sales price was not disclosed.

June 12, 2025

Acquisitions Illinois Midwest Office

AXIS 360 Brokers Sale of 16,998 SF Office Building in Bloomington, Illinois

by Abby Cox June 12, 2025

BLOOMINGTON, ILL. — AXIS 360 Commercial Real Estate has arranged the sale of a 16,998-square-foot office building located at 2712 McGraw Drive in Bloomington. Formerly occupied by Insight CPAs & Financial PLLC, the property features floor-to-ceiling windows, sky lights, 11 private offices, cubicle space and conference rooms. Meghan O’Neal-Rogozinski and Mike O’Neal of AXIS 360 brokered the transaction. The buyer was locally based Hjerpe & Tennison CPAS LLC.

June 12, 2025

Loans Michigan Midwest Multifamily

Bernard Financial Group Arranges $1M Permanent Loan for 22-Unit Multifamily Property in Detroit

by Abby Cox June 12, 2025

DETROIT — Bernard Financial Group (BFG) has arranged a $1 million permanent loan for a 22-unit multifamily property located in Detroit. The name of the property was not disclosed. Josh Bernard of Bernard Financial Group originated the loan on behalf of the borrower, an entity doing business as Pilgrim Villa LLC. One of BFG’s correspondent life company lenders provided the loan.

June 12, 2025

Acquisitions Net Lease Retail Texas

STRIVE Arranges Sale of Retail Building Leased to AutoZone in Bryan, Texas

by Taylor Williams June 12, 2025

BRYAN, TEXAS — Dallas-based brokerage firm STRIVE has arranged the sale of a 7,750-square-foot retail building located along North Texas Avenue in the Central Texas city of Bryan. The property is net leased to AutoZone. Adam Gottschalk and Jason Vitorino of STRIVE represented the seller, a private wealth management division of a bank, and procured the undisclosed buyer. Additional terms of sale were not disclosed.

June 12, 2025

Development Loans Multifamily New York Northeast

Charney, Tavros Receive $525M in Construction Financing for 55-Story Multifamily Tower in Queens

by Taylor Williams June 12, 2025

NEW YORK CITY — A partnership between two locally based firms, Charney Cos. and Tavros, has received $525 million in construction financing for a 55-story multifamily tower that will be located in the Long Island City area of Queens. Greystone arranged the financing, which consists of $425 million in debt from Madison Realty Capital and $100 million in equity from Kushner and OneIM. Plans call for 636 condos in studio, one-, two- and three-bedroom formats, as well as Class A amenities and retail space that will be occupied by grocery and fitness users. A formal name for the project, which will be located at 24-19 Jackson Ave. and 45-03 23rd St. in the Court Square area, has not yet been determined. FXCollaborative designed the building, completion of which is slated for 2028.

June 12, 2025

Bldg1-Tripoint-Logistics-Center-Lathrop-CA

Acquisitions California Industrial Western

Dermody Acquires 1.1 MSF Wayfair-Occupied Industrial Building at Tripoint Logistics Center in Lathrop, California

by Amy Works June 12, 2025

LATHROP, CALIF. — Dermody has purchased Tripoint Logistics Center Bldg. 1, a Class A industrial building in Lathrop. Terms of the acquisition were not disclosed. The 1.1 million-square-foot property is situated on 49.6 acres within a 300-acre master planned logistics park. Wayfair, an e-commerce company, occupies the cross-dock facility that features drive-around access and 40-foot clear heights. Wayfair uses the facility to distribute to all of its North American warehouses. Rebecca Perlmutter and Tom Davis of CBRE brokered the transaction.

June 12, 2025

California Development Multifamily Seniors Housing Western

Continuing Life Underway on 354-Unit Seniors Housing Community in Walnut Creek, California

by Amy Works June 12, 2025

WALNUT CREEK, CALIF. — Continuing Life LLC is currently underway on the development of The Glen at Heather Farm, a new seniors housing community in Walnut Creek. Upon completion, the property will total 354 units in the form of both apartments and single-story homes. In addition to independent living, the community will offer assisted living and memory care services, as well as long-term care options at an adjacent health center. Amenities at the property will include multiple dining venues, a health spa, aquatic center, theaters and pickleball and tennis courts. The Glen at Heather Farm is scheduled to open in late 2027 or early 2028.

June 12, 2025

Acquisitions Multifamily New Jersey Northeast

Kislak Arranges $20M Sale of Jersey City Apartment Building

by Taylor Williams June 12, 2025

JERSEY CITY, N.J. — Locally based brokerage firm The Kislak Co. Inc. has arranged the $20 million sale of 70 Central Lofts, a 31-unit apartment building in Jersey City. Completed in 2024, the five-story building includes a 32-space parking garage and a 1,696-square-foot retail space, as well as 7,000 square feet of amenity space. Davis Briones of Kislak represented the seller, Legacy Development, in the transaction and procured the buyer, an entity doing business as 70 Central Lofts LLC.

June 12, 2025

Arizona Development Industrial Office Western

Brinkmann Constructors Completes 150,000 SF Office, Manufacturing Facility for Super Radiator Coils in Mesa, Arizona

by Amy Works June 12, 2025

MESA, ARIZ. — Brinkmann Constructors has completed a build-to-suit office and manufacturing facility in Mesa for Super Radiator Coils. Founded in 1928, the family-owned engineering and manufacturing company specializes in industrial heat exchangers and ancillary products used in a variety of applications, including power generation, gas compression, HVAC, industrial refrigeration, data center and electronics cooling, wind tunnels and semiconductor manufacturing. Designed by Ware Malcomb, the 150,000-square-foot property includes 18,000 square feet of Class A office uses, an engineered clean room area and the capacity to expand by another 50,000 square feet. The facility’s fully air conditioned manufacturing area is equipped with extra-thick cement flooring to accommodate an array of specialized machinery, overhead cranes and above-ground testing tanks. The facility features individual employees lockers, a large break room on the main floor and a coffee bar/quick mart. Additionally, the 11-acre site is equipped with EV charging stations and the structure design incorporates the correct roof loading and electrical infrastructure to accommodate future solar panel installation.

June 12, 2025

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