Friday, November 21, 2025
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AcquisitionsMidwestMinnesotaMultifamily

Marcus & Millichap Arranges Sale of Minnesota Multifamily Portfolio for $9.7M

by Kristin Harlow

ST. CLOUD, MINN. — Marcus & Millichap has arranged the sale of two multifamily properties in the Minneapolis suburb of St. Cloud for $9.7 million. Brookwood Apartments was built in 1987 and includes 102 units across 89,225 rentable square feet. Pine Pointe Apartments, constructed in 1989, features 78 units totaling 73,933 rentable square feet. The properties are less than a mile apart and offer a mix of studio, one-, two- and three-bedroom floor plans. Chris Collins and Evan Miller of Marcus & Millichap represented the seller, a Minnesota-based limited liability partnership. Collins and Matthew Shide procured the buyer, a Minnesota-based limited liability company.

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AcquisitionsIllinoisIndustrialMidwest

SVN Chicago Commercial Negotiates $1.5M Sale of Industrial Property in Mundelein, Illinois

by Kristin Harlow

MUNDELEIN, ILL. — SVN Chicago Commercial has negotiated the $1.5 million sale of a 31,600-square-foot industrial property at 404 Washington Blvd. in Mundelein. Situated on 2.4 acres, the property features a large, paved parking lot approved for outside storage and truck parking. The undisclosed buyer plans to use a portion of the building and lease out the rest. SVN Chicago Commercial’s Next Level Team represented the seller and procured the buyer.

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IndustrialLeasing ActivityNew JerseyNortheast

Resource Realty Negotiates 48,100 SF Industrial Lease Renewal in Fairfield, New Jersey

by Taylor Williams

FAIRFIELD, N.J. — Locally based brokerage firm Resource Realty of Northern New Jersey has negotiated a 48,100-square-foot industrial lease renewal in Fairfield. According to propertyshark.com, the building at 19 Daniel Road was originally constructed on 3.1 acres in 1968. Greg Sabato of Resource Realty represented the tenant, locally based freight company Best-Way-Trucking, in the lease negotiations. Sabato also represented the undisclosed landlord.

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IndustrialLeasing ActivityMassachusettsNortheast

PEAK Events Signs 16,000 SF Industrial Lease in Andover, Massachusetts

by Taylor Williams

ANDOVER, MASS. — PEAK Events has signed a 16,000-square-foot industrial lease in Andover, located north of Boston. The regional event equipment provider is taking space at 4 Executive Place, a 168,000-square-foot building, alongside Red Thread, which recently leased 96,000 square feet of space within the building. Locally based investment and development firm Marcus Partners owns the building. Both parties were self-represented in the lease negotiations.

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CivicLeasing ActivityNew YorkNortheast

TADA Youth Theater Renews 10,000 SF Lease in Manhattan’s NoMad District

by Taylor Williams

NEW YORK CITY — TADA Youth Theater has renewed its 10,000-square-foot lease at 15 W. 28th St. in Manhattan’s NoMad district. The community program that produces original musicals for family audiences and hosts musical classes has occupied space at the building since 2002, and the renewal keeps the tenant in place for another five years. Josh Berger of Norman Bobrow & Co. represented the tenant in the lease negotiations. David Eshagpour represented the landlord, East Coast Management, on an internal basis.

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Lincoln Road
DevelopmentFloridaLoansRetailSoutheastTop Stories

Ackerman & Co. Secures $117M Acquisition Financing for Lincoln Road Retail Redevelopment Project in Miami Beach

by Abby Cox

MIAMI BEACH, FLA. — Ackerman & Co. has secured $117 million in financing on behalf of locally based Comras Co. for the acquisition of five buildings to complement the north end of Lincoln Road, the retail high street of Miami Beach. Dubbed NoLi (North Lincoln Road), the redevelopment will include 150,000 square feet of boutique retail, dining, wellness and lifestyle concepts, as well as 1,700 square feet of street frontage. Completion of the project is anticipated for the first quarter of 2027. Jonathan Rice of Atlanta-based Ackerman & Co. arranged the financing through ACORE Capital. The sellers of the five properties were affiliates of Morgan Stanley and Terranova Corp. “NoLi promises to be another transformative development by Comras in Miami Beach, alongside recently completed projects like the CocoWalk redevelopment in Coconut Grove and the retail component of Miami Worldcenter,” says Jonathan Rice, executive vice president of capital markets at Ackerman & Co. Situated along Lincoln Road and North Lincoln Lane, NoLi will be converted into a new micro-district that will comprise more than 40 inline retail spaces. NoLi will reuse the existing buildings and repurpose the outdated floorplans to create boutique-sized spaces, with layouts ranging in size from 400 square feet …

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AcquisitionsHealthcareSoutheastWest Virginia

Lument Securities Arranges $140M Sale of Four Long-Term Healthcare Communities in West Virginia

by John Nelson

NEW YORK CITY — Lument Securities has arranged the $140 million sale of four long-term healthcare communities in West Virginia. Marx Development Group (MDG) purchased the 511-bed portfolio and has selected its subsidiary, Majestic Care, to operate the communities. Laca Wong-Hammond of Lument Securities represented the seller, the State of West Virginia, in the transaction. The properties include Hopemont Hospital in Terra Alta, Jackie Withrow Hospital in Beckley, John Manchin Sr. Health Care Center in Fairmont and Lakin Hospital in West Columbia. In addition to funding the purchase, the closing provides for a minimum of another $80 million that MDG has committed to using for the construction of three to five new long-term care communities in the coming years.

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DevelopmentFloridaIndustrialOfficeSoutheast

Bridge Industrial to Redevelop South Florida Office Park Into 268,702 SF Industrial Complex

by John Nelson

DORAL, FLA. — Bridge Industrial has recently received approval to redevelop a 16-acre office park located at 7775 N.W. 48th St. in Doral into Bridge Point Doral 826, a 268,702-square-foot, two-building industrial complex. The conversion project will transform the 1970s-era suburban office park in metro Miami’s Airport West submarket into a LEED-certified logistics hub. Bridge Industrial has begun preliminary site preparations at the property and will plan to deliver the project in first-quarter 2027. Bridge Point Doral 826 represents the second office-to-industrial conversion project in South Florida as the company recently redeveloped the former Ryder Systems headquarters into Bridge Point Flagler Station.

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Company NewsNorth CarolinaOfficeSoutheast

Maersk Selects Charlotte for New North American Corporate Headquarters

by John Nelson

CHARLOTTE, N.C. — Maersk, a global integrated logistics and shipping company, has selected Charlotte for its North American corporate headquarters. The company will invest $16 million in Mecklenburg County and will grow its Charlotte workforce to 1,300 jobs. The location of the company’s new offices and identity of the landlord were not disclosed. Maersk is a subsidiary of Danish firm A.P. Moller-Maersk and was founded in 1904. The new headquarters in Charlotte will house key corporate functions —  including finance, human resources, commercial strategy and technology — for its 10,000 North American employees. Maersk’s lease is the second headquarters relocation for Charlotte within a week as Scout Motors, a subsidiary of Volkswagen, announced its $206 million investment to move its regional headquarters to Charlotte.

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AcquisitionsFloridaMultifamilySoutheast

CBRE Brokers Sale of 242-Unit Altis Santa Barbara Apartments in Naples

by John Nelson

NAPLES, FLA. — CBRE has brokered the sale of Altis Santa Barbara, a 242-unit apartment community located at 4710 Altis Drive in Naples. Northland purchased the property for an undisclosed price. Robert Given, Neal Victor and Chris Smiles of CBRE represented the seller, a joint venture sponsored by Altman, in the transaction. Tracy Kennedy, Tony Stein and Ryan Hall with CBRE assisted Northland with acquisition financing. Delivered in 2024, Altis Santa Barbara offers one-, two- and three-bedroom units, as well as private patios or balconies for all units and direct-access garages for select units.

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