Tuesday, December 23, 2025
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AcquisitionsIndustrialMidwestOhio

ICP Acquires 408,000 SF Former True Value Hardware Distribution Facility in Westlake, Ohio

by Kristin Harlow

WESTLAKE, OHIO — Industrial Commercial Properties (ICP) has acquired the former True Value Hardware distribution facility at 26025 1st St. in Westlake, about 12 miles west of downtown Cleveland. The 408,000-square-foot property features a clear height of 25 feet and sits on 21.6 acres. ICP will transform the facility with advanced building systems, improved dock and loading areas and a modernized look. The updated space, available in the second quarter of 2026, will offer flexible layouts for industrial, manufacturing and distribution businesses. Joe Messina, David Stecker and Joe Warren of JLL helped facilitate the transaction and will continue as the leasing team.

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AcquisitionsAffordable HousingMidwestMinnesotaMultifamily

JLL Arranges Sale of 50-Unit Affordable Townhome Community in Northfield, Minnesota

by Kristin Harlow

NORTHFIELD, MINN. — JLL Capital Markets has arranged the sale and financing for Jefferson Square, a 50-unit HAP townhome community in Northfield, about 45 miles south of Minneapolis. The property sits on 5.2 acres and includes nine residential buildings, three parking structures and one administrative building. Amenities include private garages, a community lounge, picnic space, tot lot and media space. Josh Talberg and Joseph Peris of JLL represented the seller, Dominium Management, and procured the buyer, an investment firm specializing in affordable and workforce housing. The buyer plans to invest capital to refresh the units and common areas in addition to extending the existing affordability restrictions. C.W. Early of JLL led the debt advisory team.

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AcquisitionsIllinoisMidwestMultifamily

Marcus & Millichap Brokers $4M Sale of Chicago Apartment Building

by Kristin Harlow

CHICAGO — Marcus & Millichap has brokered the $4 million sale of 3060 W. Armitage Ave., a 13-unit apartment building in Chicago’s Logan Square neighborhood. Built in 2012, the property features a mix of one- and two-bedroom floor plans and one retail unit across 11,700 rentable square feet. Steve Rachman of Marcus & Millichap procured the buyer, a private investor, who plans to create value through light renovations and addressing deferred maintenance.

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AcquisitionsMidwestOhioRetail

Cooper Group Negotiates $3.1M Sale of Retail Center in Toledo, Ohio

by Kristin Harlow

TOLEDO, OHIO — The Cooper Commercial Investment Group has negotiated the $3.1 million sale of Jesse James Plaza, a multi-tenant retail center in Toledo. Dan Cooper represented the seller, a Midwest-based investment group. The asset sold to an all-cash buyer. Jesse James Plaza totals roughly 35,800 square feet and sits on 3.1 acres. FirstCash and Safelite are anchor tenants.

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Leasing ActivityMichiganMidwestRetail

Family Farm & Home to Backfill 30,000 SF Former Big Lots Space in Bay City, Michigan

by Kristin Harlow

BAY CITY, MICH. — Family Farm & Home will open a new location at 1001 N. Euclid Ave. in Bay City. The 30,000-square-foot space was formerly home to Big Lots. Peter Abro of Keystone Commercial Real Estate arranged the lease. Family Farm & Home is a Michigan-based company that offers farm supplies, home improvement tools and outdoor power equipment.

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Conference CoverageFeaturesMultifamilySoutheast Feature Archive

InterFace Panel: Tariffs Are a ‘Hot Potato’ When it Comes to Construction Costs

by Kristin Harlow

ATLANTA — In today’s multifamily development world, architects, designers and general contractors do everything in their power to avoid the one thing they dread most: Going back to a developer mid-project to ask for more money. These “uncomfortable moments,” as Lori Ann Dinkins, president and CEO of Mood Interior Design, called them, happen more often these days thanks to rising costs, tariffs and collaboration snafus. Dinkins led a panel of architects, interior designers and general contractors through a bevy of topics — good, bad and ugly — that define the current state of building and designing apartments at InterFace Conference Group’s Multifamily Southeast event. The event took place over the course of two days at the InterContinental Buckhead in Atlanta. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. Residents and developers alike are taking a more practical, less playful approach when it comes to stylizing apartments. Gone are the days of “those huge show-stopper, Instagram-moment amenity spaces,” said Ian Hunter, regional director at Atlanta-based Dwell Design Studio. “They’re out. And they’re out for a couple of reasons. Not just …

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21021-Erwin-St-LA-CA
AcquisitionsCaliforniaMultifamilyUncategorizedWestern

Waterton Acquires 395-Unit Motif Multifamily Property in Los Angeles

by Amy Works

LOS ANGELES — Waterton has purchased Motif, an apartment community located at 21021 Erwin St. in the Woodland Hills neighborhood of Los Angeles. Terms of the transaction were not disclosed. Situated within the Warner Center master-planned community, the property will be rebranded as Sorrel at Warner Center. Built in 2015, the asset features 395 one-, two- and three-bedroom apartments with new quartz countertops, lighting and plumbing fixtures. Community amenities include two pools, a spa, grilling stations, a bocce ball court, an indoor fitness space with free weights, yoga and spin rooms, an outdoor fitness center, a dog park and covered parking. The buyers plan to update and modernize the common areas with new exterior paint, improved landscaping and upgraded building systems.

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Watsonville-Metro-Watsonville-CA
Affordable HousingCaliforniaLoansMultifamilyWestern

MidPen Housing Secures $132.8M in Grants for Three Central California Affordable Housing Developments

by Amy Works

SAN JOSE, ALAMEDA AND WATSONVILLE, CALIF. — The California Strategic Growth Council has awarded funding to existing MidPen Housing developments in San Jose, Alameda and Watsonville that include a total of 362 affordable units. Valley Transportation Authority (VTA) Capitol Station in San Jose was awarded $49.3 million. Located next to the Capitol Light rail station, this transit-oriented development will include 203 affordable rental homes, including 51 permanent supportive housing apartments for formerly homeless individuals. The project will replace an underutilized VTA parking lot with an all-electric residential building and a new transit plaza, complemented by multimodal improvements such as 2.3 miles of bike paths, upgraded walkways and new bus shelters. The project is slated for completion in 2029. The Stardust Gardens project in Alameda was awarded $44.5 million. This project includes 80 units that will be developed on public land and will include units for households that have experienced homelessness. Transportation enhancements include electric ferry charging infrastructure to enable zero-emission ferry service, bike and pedestrian safety improvements, traffic calming and new bikeways. A completion date was not available. Lastly, the state awarded $39 million to Watsonville Metro in Watsonville. This project involves redeveloping a downtown transit center into 79 affordable …

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Thornton-Town-Center-Thornton-CO
AcquisitionsColoradoRetailWestern

CRC Purchases 266,008 SF Thornton Town Center Retail Property in Colorado for $25.5M

by Amy Works

THORNTON, COLO. — Continental Realty Corp. (CRC) has acquired Thornton Town Center, a neighborhood shopping center in Thornton, from Citivest Commercial Investments for $25.5 million. Brad Lyons of CBRE represented the seller in the transaction. Located at 9223-1001 and 1005 Grant St., the 266,008-square-foot retail center was 73 percent leased at the time of sale. Current tenants include Malibu Jack’s, The Picklr, Sky Zone Trampoline Park, GNC, Jersey Mike’s Subs, Renegade Burrito, Sally Beauty and Starbucks Coffee. CRC plans to implement a property improvement strategy for the asset, which was built in 1990 on 24 acres.

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Riverdale-Shopping-Center-Riverdale-UT
AcquisitionsRetailUtahWestern

ZRP Acquires Riverdale Shopping Center in Metro Salt Lake City for $20M

by Amy Works

RIVERDALE, UTAH — Ziff Real Estate Partners (ZRP) has acquired Riverdale Shopping Center, a 93,592-square-foot shopping center located in Riverdale, approximately 35 miles north of downtown Salt Lake City. T.J. Maxx and Ulta Beauty anchor the property, which was built in 2007, according to LoopNet Inc. JT Redd and Kip Paul of Cushman & Wakefield represented the seller. Christian Chamblee and Brooke Frey internally represented ZRP in the transaction.

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