Tuesday, May 13, 2025
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1690-S.-Washington-Ave.-Piscataway-New-Jersey
DevelopmentIndustrialNew JerseyNortheast

M&M Realty Completes 359,522 SF Industrial Project in Piscataway, New Jersey

by Taylor Williams

PISCATAWAY, N.J. — Locally based developer M&M Realty Partners has completed a two-building, 359,522-square-foot industrial project in the Northern New Jersey community of Piscataway. Building A totals 184,848 square feet and features a clear height of 40 feet, 3,000 square feet of office space, 28 loading docks, two drive-in doors and parking for 157 cars and 30 trailers. Building B totals 174,674 square feet and offers almost identical design features. Cushman & Wakefield is marketing the property for lease.

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AcquisitionsCaliforniaRetailWestern

Faris Lee Negotiates $22.8M Sale of Santa Margarita Marketplace in Rancho Santa Margarita, California

by Amy Works

RANCHO SANTA MARGARITA, CALIF. — Faris Lee Investments has arranged the all-cash sale of Santa Margarita Marketplace, a retail center in Rancho Santa Margarita. K&G Marketplace sold the asset to Curbline Properties, a publicly traded REIT, for $22.8 million. Starbucks Coffee, Luna Grill and Philly’s Best occupy the three-tenant, 29,418-square-foot pad building. Scott DeYoung, Chris DePierro, Jeff Conover and Greg Lukosky of Faris Lee represented the seller in the transaction.

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1300-N-Fiesta-Blvd-Gilbert-AZ
AcquisitionsArizonaIndustrialWestern

SKB, Arc Capital Partners Buy Two Industrial Buildings in Gilbert, Arizona for $19M

by Amy Works

GILBERT, ARIZ. — A joint venture between Portland, Ore.-based SKB and Los Angeles-based Arc Capital Partners has acquired two manufacturing buildings in Gilbert from Walnut Creek, Calif.-based Nearon for $19 million. Located at 1250 and 1300 N. Fiesta Blvd., the freestanding buildings are fully leased to three tenants. Situated on 3.2 acres, 1250 North N. Blvd. offers 45,072 square feet of single-tenant space, which is fully leased to Kaiser Garage Doors & Gates. Fiesta Tech Center, located at 1300 N. Fiesta Blvd., consists of one freestanding building totaling 148,921 square feet on 12.4 acres. The multi-tenant property is primarily leased to MKB Construction and Symage. Both properties offer ample power, excess yard space and convenient access to Loop 101, US-60 and Loop 202. Phil Haenel, Will Strong, Foster Bundy and Katie Repine of Cushman & Wakefield’s Private Capital Group represented the buyer and seller in the deal.

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Fullerton-On-Campus-Fullerton-CA
CaliforniaDevelopmentMultifamilyStudent HousingWestern

Sundt Construction Begins Redevelopment of Two Residence Halls at California State University, Fullerton Campus

by Amy Works

FULLERTON, CALIF.  — Sundt Construction has broken ground on the redevelopment of two residence halls on the California State University, Fullerton campus. The project will replace the Jewel Plummer and Cobb Residence Halls, which were the first residence halls built on campus in 1979. The new 175,000-square-foot facility will offer 500 beds in two-bedroom units with bed-to-bath parity for residents; two-bedroom apartments for staff; and one-bedroom units for residence advisors. The project will also include shared amenity space on the ground floor, an updated connection to the university’s arboretum and an 82-space parking lot. A timeline for the development was not announced. 

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Leasing ActivityNew JerseyNortheastRetail

Target to Open 75,500 SF Store in Flemington, New Jersey

by Taylor Williams

FLEMINGTON, N.J. — Target will open a 75,500-square-foot store in the Central New Jersey community of Flemington. The store will be located within a space formerly occupied by Burlington at the 239,000-square-foot Flemington Marketplace shopping center. Vanessa Kelty of Levin Management Corp. represented the landlord, an institutional client of New York Life Real Estate Investors, in the lease negotiations. Jeff Howard of Ripco Real Estate represented Target, which expects to open its Flemington store next fall.

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ArizonaDevelopmentHealthcareOfficeWestern

Okland Capital Breaks Ground on 68,000 SF Celebration Medical Center in Gilbert, Arizona

by Amy Works

GILBERT, ARIZ. — Okland Capital has started construction for Celebration Medical Center, a medical office project in Gilbert. CBRE is marketing the facility for lease. Located at 3275 S. Mercy Road, the three-story building will offer 68,000 square feet of Class A medical office space divided into eight suites. The property is more than 30 percent pre-leased, with two undisclosed tenants.

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Leasing ActivityNew YorkNortheastOffice

Kauff McGuire & Margolis Signs 17,320 SF Office Lease in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — Kauff McGuire & Margolis LLP has signed a 17,320-square-foot office lease in Midtown Manhattan. The law firm has committed to the 33rd floor of the building at 810 Seventh Ave. for a term of 10 years. Peter Trivelas, Justin Royce and Justin Sodokoff of Cushman & Wakefield represented the tenant in the lease negotiations. Harry Blair, Tara Stacom, Barry Zeller and Pierce Hance, also with Cushman & Wakefield, represented the landlord, SL Green.

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LoansMidwestMissouriOfficeWalker & Dunlop

Walker & Dunlop Arranges $65M Loan for Refinancing of Plaza Vista Offices in Kansas City

by Kristin Harlow

KANSAS CITY, MO. — Walker & Dunlop has arranged a $65 million loan for the refinancing of Plaza Vista Offices in Kansas City. Located at 900 W. 48th St. on the west side of the Country Club Plaza, the property serves as the headquarters of Polsinelli PC. The development features a 10-story building totaling 253,736 square feet situated above a 950-space underground parking garage. Joseph Platt of Walker & Dunlop arranged the fixed-rate loan through Bank of America on behalf of the borrower, Platform Ventures LLC.

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AcquisitionsIllinoisIndustrialLee & AssociatesMidwest

Lee & Associates Negotiates Sale of 118,041 SF Industrial Building in Batavia, Illinois

by Kristin Harlow

BATAVIA, ILL. — Lee & Associates has negotiated the sale of a 118,041-square-foot industrial building in the Chicago suburb of Batavia for an undisclosed price. The property is located at 1020 Olympic Drive. Michael Androwich Jr. of Lee & Associates represented the buyer, Blue Peak Tents, which is currently located in Batavia and is expanding its operations. Blue Peak Tents will consolidate three locations into the new facility. Nick Eboli and Andrew Block of Lee & Associates represented the private seller, which closed its screen printing operation that was housed in the building.

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IllinoisLeasing ActivityLife SciencesMidwest

COUR Pharmaceuticals Signs 50,000 SF Lease at Evanston Labs in Illinois

by Kristin Harlow

EVANSTON, ILL. — COUR Pharmaceuticals has signed a 50,000-square-foot lease at Evanston Labs in Evanston. The company is relocating its headquarters, R&D lab and pilot manufacturing plant to the recently delivered project. COUR, a clinical-stage biotechnology company developing therapies to treat patients with autoimmune diseases, will occupy space across the eighth and ninth floors. Located at the southwest corner of Orrington Avenue and Clark Street, Evanston Labs is an advanced sciences lab building rising 10 stories and totaling 178,800 square feet. Completed earlier this year by Trammell Crow Co. (TCC), the development features a penthouse amenity center, outdoor terrace and health and wellness center.

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