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470-Vanderbilt-Ave.-Brooklyn
AcquisitionsNew YorkNortheastOffice

Cross Ocean, Lincoln Buy 650,000 SF Office Building in Downtown Brooklyn

by Taylor Williams

NEW YORK CITY — A partnership between Connecticut-based Cross Ocean Partners and Dallas-based Lincoln Property Co. has acquired the leasehold interest in 470 Vanderbilt Avenue, a 650,000-square-foot office building in downtown Brooklyn. According to LoopNet Inc., the 10-story building was originally constructed in 1931 and last renovated in 2012. The building was fully leased at the time of sale, with the New York City Human Resources Administration and New York City Housing Authority serving as the longstanding anchor tenants. The seller and sales price were not disclosed, but Crain’s New York Business reports that the seller was local real estate giant RXR and the price was approximately $70 million.

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DevelopmentMassachusettsMultifamilyNortheast

Procopio Tops Out 92-Unit Multifamily Project in Marlborough, Massachusetts

by Taylor Williams

MARLBOROUGH, MASS. — Locally based developer The Procopio Cos. has topped out 57 Main, a 92-unit multifamily project located in the western Boston suburb of Marlborough. Designed by The Architectural Team and built by Angus Construction, 57 Main will feature 52 one-bedroom apartments and 40 two-bedroom apartments, as well as 3,220 square feet of ground-floor retail space and a landscaped courtyard facing Union Park. Completion is slated for next spring.

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DevelopmentMultifamilyNew YorkNortheast

Limited Liability Company Breaks Ground on 32-Unit Multifamily Project in Red Bank, New Jersey

by Taylor Williams

RED BANK, N.J. — A limited liability company doing business as Thrive RB LLC has broken ground on a 32-unit multifamily project in the Northern New Jersey community of Red Bank, located near the Jersey Shore. Known as THRIVE Red Bank, the three-story building is being developed as housing for neurodivergent individuals. Five units will be subject to income restrictions, and the remainder will be private-pay housing. Completion is slated for 2027.

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AcquisitionsMultifamilyNew YorkNortheast

Marcus & Millichap Brokers $10.4M Sale of Manhattan Apartment Building

by Taylor Williams

NEW YORK CITY — Marcus & Millichap has brokered the $10.4 million sale of a 34-unit apartment building on Manhattan’s Upper East Side. The five-story building at 234-236 E. 88th St. was originally constructed in 1920. Joe Koicim and Logan Markley of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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AcquisitionsConnecticutNortheastOfficeRetail

O,R&L Commercial Arranges $2.7M Sale of Retail, Office Complex in Cheshire, Connecticut

by Taylor Williams

CHESHIRE, CONN. — Locally based brokerage firm O,R&L Commercial has arranged the $2.7 million sale of Country Plaza, a 26,000-square-foot office and retail complex in Cheshire, located roughly midway between Hartford and New Haven. The property is home to a mix of food-and-beverage, service retail and healthcare users. Toby Brimberg of O,R&L represented the undisclosed seller and the buyer, Kisco Funding Group, in the deal.

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The-Concourse-City-of-Industry-CA
AcquisitionsCaliforniaIndustrialWestern

MetLife Sells Golden Coast Industrial Portfolio in Southern California for $165.5M

by Amy Works

CARLSBAD, CITY OF INDUSTRY AND REDONDO BEACH, CALIF. — MetLife Investment Management has completed the sale of the Golden Coast Portfolio, an industrial portfolio totaling 600,000 square feet in Southern California. The portfolio includes three buildings in Carlsbad, City of Industry and Redondo Beach that were acquired by three separate buyers for a total price of $165.5 million. Jeff Chiate, Rick Ellison, Matt Leupold, Bryce Aberg, Aubrie Monahan, Jeff Cole and Charlie Jacobs of Cushman & Wakefield represented the seller and procured the buyers in the transactions. TA Realty acquired The Concourse, a 420,697-square-foot industrial business park in City of Industry. The property offers 69 dock-high doors, nine grade-level doors and a 160-foot truck court. Terreno purchased The Redondo Beach Two Pack, a 99,340-square-foot property that features 16 dock-high doors, three grade-level doors and a clear height of 16 feet. GID acquired Carlsbad Oaks Business Park, a 78,143-square-foot property with clear heights ranging from 22 to 26 feet, grade and dock loading capabilities, and an efficient warehouse and office layout.

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ArizonaDevelopmentIndustrialLoansWestern

Essex Real Estate Capital Secures $46M Construction Loan for Chandler Innovation Park in Arizona

by Amy Works

CHANDLER, ARIZ. — Essex Real Estate Capital Advisors has secured a $46 million construction loan for Chandler Innovation Park, a Class A speculative industrial development in Chandler. The sponsor is Colorado-based DPC Development Cos. The loan was secured through Principal Asset Management. Situated on 21.3 acres, Chandler Innovation Park will feature a 39,387-square-foot building, a 99,222-square-foot building and a 189,167-square-foot asset. The three buildings will be front-park, rear-load facilities designed for manufacturing and logistics users. Construction began in July 2025, with completion scheduled for August 2026. Alcorn Construction is serving as general contractor. Lee & Associates is handling leasing for the project.

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Orangewood-Corporate-Plaza-Orange-CA
AcquisitionsCaliforniaOfficeWestern

CBRE Brokers $18.9M Sale of Orangewood Corporate Plaza Office Campus in Orange, California

by Amy Works

ORANGE, CALIF. — CBRE has arranged the sale of Orangewood Corporate Plaza, a two-building office campus in Orange. Khoshbin Co. acquired the asset from an undisclosed seller for $18.9 million. Anthony DeLorenzo, Bryan Johnson and Sammy Cemo of CBRE represented the seller in the transaction. Matt Didier, David Dowd and Jennifer Whittington of CBRE advised the seller on the sale. Located at 2100-2200 Orangewood Ave., the 109,644-square-foot campus was 84 percent leased at the time of sale. The property features high-end finishes, subterranean parking and recent capital improvements totaling more than $3.3 million. Renovations included upgrades to HVAC systems, roofing, landscaping and interior common areas.

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Swiss-Gables-Apts-Kent-WA
AcquisitionsMultifamilyWashingtonWestern

Kidder Mathews Negotiates Sale of 108-Unit Swiss Gables Apartments in Kent, Washington

by Amy Works

KENT, WASH. — Kidder Mathews has arranged the sale of Swiss Gables Apartments, a multifamily property in Kent’s Lake Fenwick neighborhood. A private investor acquired the asset from John Stephanus for an undisclosed price. Dylan Simon, Jerrid Anderson, JD Fuller and Elijah Piper of the Simon | Anderson Multifamily team at Kidder Mathews represented the seller and sourced the buyer in the deal. Built in 1969, Swiss Gables offers 108 apartments averaging 870 square feet with in-unit laundry spread across seven buildings on 5 acres.

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Shiraz-Rug-Palm-Desert-CA
AcquisitionsCaliforniaRetailWestern

Progressive Real Estate Arranges $1.8M Sale of Retail Property in Southern California

by Amy Works

PALM DESERT, CALIF. — Progressive Real Estate Partners has negotiated the $1.8 million sale of a 5,000-square-foot freestanding retail building located in the Downtown Edge District of Palm Desert. The buyer, a family that owns and operates the neighboring Shiraz Rug Co., acquired the building to expand the store’s operations by an additional 5,000 square feet. Heather Sharp of Progressive Real Estate arranged the sale.

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