AVENEL, N.J. — Chicago-based investment firm CenterPoint Properties has acquired two industrial buildings totaling 387,526 square feet in the Northern New Jersey community of Avenel. The building at 191 Blair Road is a 198,854-square-foot, cross-dock facility with a clear height of 36 feet. The building at 215 Blair Road is a 188,672-square-foot, single-load warehouse with clear heights of 22 to 30 feet and several acres of overflow parking space. Gary Gabriel, Kyle Schmidt and Ryan Larkin of Cushman & Wakefield brokered the sales of the buildings, both of which were fully leased at closing.
MILWAUKIE, ORE. — CBRE has arranged the sale of Axletree Apartments, a multifamily complex located at 11125 SE 21st Ave. in Milwaukie. A private seller sold the asset to an undisclosed buyer for $28 million. Built in 2019, Axletree Apartments features 110 studio, one- and two-bedroom units with in-unit washers/dryers and stainless steel appliances. Josh McDonald and Joe Nydahl of CBRE represented the seller in the deal.
TACOMA, WASH. — Dermody has purchased 40.8 acres of land at 17027-17028 Canyon Parkway East In Tacoma for an undisclosed price. The fully entitled site will become LogistiCenter at Frederickson, a two-building industrial park. Slated for delivery in second-quarter 2026, Building A will offer 443,420 square feet and Building B will feature 91,728 square feet. Additionally, the property will feature a trailer lot. Andrew Hitchcock, Andrew Stark and Zac Snedeker of CBRE are handling leasing for the project. Brett Hartzell of CBRE’s National Partners assisted with the acquisition.
NAPA, CALIF. — Matthews Real Estate Investment Services has brokered the sale of Southgate Mini Storage, a self-storage property located at 1025 Golden Gate Drive in Napa. Terms of the transaction were not disclosed. Shane Avera of Matthews handled the transaction. The seller has owned the 67,980-square-foot property for more than 50 years.
NORTHBROOK, ILL. — Power Construction and architect Ware Malcomb have completed the new corporate office for Medline Industries LP in Northbrook within metro Chicago. Ware Malcomb’s Oak Brook office provided full interior architecture and design, furniture management and building measurement services for the seven-story, 214,560-square-foot project, which involved the repositioning of an existing office building. Medline provides medical-surgical products and supply chain solutions. Located four miles west of the company’s global headquarters in Northfield, the new Northbrook office brings together Medline’s operations, information services, quality and inventory management teams into a centralized location. There are individual workspaces as well as meeting, amenity and support spaces on each level. The upper floors include open collaboration areas. There are pantry spaces on each level, and additional elements include numerous focus rooms, flexible training rooms, conference rooms and huddle space for teams. Ware Malcomb worked with Medline to utilize existing furniture from other Medline locations where possible. The project team included RTM Engineering and owner’s representative Transwestern.
JANESVILLE, WIS. — Zilber Property Group (ZPG) has unveiled plans to build Zilber Industrial 13, a 238,000-square-foot speculative industrial facility in Janesville, a city in southern Wisconsin. The building marks the first within Janesville Innovation Park, a master-planned, 110-acre industrial development with capacity for more than 1.8 million square feet. Zilber Industrial 13 will be located near the intersection of Beloit Avenue and Highway 11, minutes from the I-90 interchange. The project can accommodate users as small as 35,000 square feet. Plans call for a clear height of 32 feet, high-bay LED lighting, an ESFR sprinkler system and expandable loading and trailer parking. With municipal approvals anticipated this summer, construction is expected to begin shortly thereafter with delivery slated for late 2025. The project team includes Zimmerman Architectural Studios, Pinnacle Engineering Group and Riley Construction. Michael Kleber of ZPG will handle leasing.
SOMERSET, N.J. — Calibre Scientific has signed a 119,325-square-foot industrial lease in the Northern New Jersey community of Somerset. The manufacturer and distributor of life sciences products is taking space at Cottontail Logistics Center, a two-building, 236,000-square-foot development. Gary Politi and Michael Viera of JLL represented the tenant in the lease negotiations. Kevin Dudley, Chad Hillyer and Kate Granahan of CBRE represented the landlord, CBRE Investment Management, which bought the property earlier this summer.
ELMHURST, ILL. — McHugh Construction and its joint venture partner Nacional Group LLC have begun preconstruction work for the new Wagner Community Center in the Chicago suburb of Elmhurst. The 127,250-square-foot, two-story project will replace the current 32,000-square-foot community center at 615 N. West Ave. Demolition is scheduled for this fall, ahead of construction breaking ground in December. A grand opening is planned for fall 2027. Designed by the Elmhurst office of Dewberry, the new center will feature an artificial turf field for soccer, football and baseball; 27,000 square feet of gym space for basketball, pickleball and volleyball; a three-lane indoor walking track; dedicated early childhood and preschool spaces; larger spaces for dance and gymnastics; an indoor play area; and flexible multipurpose spaces for community programming. Additional project partners include mechanical, electrical and plumbing engineer Elara Engineering, structural engineer Pease Borst & Associates, civil engineer V3 Cos. and landscape architect Upland Designs Ltd.
GREENVILLE, S.C. — Appian Investments has secured joint venture equity with Harbert Management Corp. for the development of Magnolia Grove, a two-building industrial development located at U.S. Route 25 and Bethuel Church Road in Greenville. Patterson Real Estate Advisory Group arranged the equity placement. Situated within three miles of both I-85 and I-185, Magnolia Grove will span 182,000 square feet across two shallow-bay buildings, both of which will be constructed with tilt-wall concrete. The facilities will feature 24-foot clear heights and a 200-foot asphalt truck court. The construction timeline was not released.
ATLANTA — Peachtree Group has originated a $42 million loan for the acquisition and repositioning of Atlanta Financial Center, a 914,774-square-foot office campus in Atlanta’s Buckhead district. The borrower, Miami-based Banyan Street Capital, recently acquired the office campus, which comprises three interconnected towers situated on 13.1 acres atop Ga. Highway 400 with immediate access to a MARTA station. The floating-rate loan carries a 36-month initial term with a 12-month extension option. The loan is backed by completion, interest and carry guarantees from Banyan Street Capital. After being acquired in 2016 by a Sumitomo Corp. affiliate for $222.5 million, Atlanta Financial Center faced tenant departures, softening fundamentals and shifting capital priorities. Banyan Street Capital plans to reposition the campus, starting with the lease-up of the North Tower, which is being supported by capital expenditure reserves and funds for tenant improvements and leasing. The sponsor will also explore larger tenant opportunities and future redevelopment options.