Property Type

Panepinto Properties Tops Out 54-Story Apartment Tower in Jersey City

by Taylor Williams June 11, 2025

JERSEY CITY, N.J. — Locally based developer Panepinto Properties has topped out 505 Summit, a 54-story apartment tower in the Journal Square area of Jersey City. Formerly known as Pathside, the property encompasses 605 units in studio, one-, two- and three-bedroom floor plans. The property will also feature 4,000 square feet of street-level retail space, a landscaped public plaza, parking garage and 304 bicycle storage spaces. Residential amenities will include an outdoor terrace with a pool, grilling stations, a resident lounge, coworking spaces, sports simulator and a fitness center. Pacific Life financed construction of the project. Leasing is scheduled to begin next spring.

June 11, 2025

Loans Multifamily Northeast Pennsylvania

Barings Provides $71.8M Loan for Refinancing of Pittsburgh Apartment Building

by Taylor Williams June 11, 2025

PITTSBURGH — Barings has provided a $71.8 million loan for the refinancing of The Park at SouthSide Works, a 247-unit apartment building located along the Monongahela River in Pittsburgh. Built in 2024, the seven-story building houses one- and two-bedroom units that, according to Apartments.com, range in size from 551 to 1,473 square feet. Amenities include a pool, courtyard with grilling stations, fitness center with a yoga room and a lounge with games. Jordan Roeschlaub, Nick Scribani, Chris Lozinak and Sam Speciale of Newmark arranged the loan on behalf of the owner, SomeraRoad, a development and investment firm with offices in Nashville and New York City.

June 11, 2025

Acquisitions Mixed-Use New York Northeast

Marcus & Millichap Negotiates $34.3M Sale of Mixed-Use Portfolio in Montauk, New York

by Taylor Williams June 11, 2025

MONTAUK, N.Y. — Marcus & Millichap has negotiated the $34.3 million sale of a portfolio of nine buildings totaling 48,145 square feet in Montauk, located on Long Island’s South Fork. Known as Gosman’s Dock, the portfolio spans 11.6 acres and consists of four restaurants, a fish market, six retail stores, four staff residences, a parking area, marina, fish charter facilities and a boat rental site. The sale also included vacant land that can support the development of a 46-room hotel. Henri Kessler, Michael Tuccillo and Eric Anton of Marcus & Millichap represented the seller, a group that includes the Gosman Family, and procured the buyer, private equity firm Black Diamond Capital Management.

June 11, 2025

Acquisitions New Jersey Northeast Retail

SRS Brokers $6M Ground-Lease Sale of Retail Building in Washington Township, New Jersey

by Taylor Williams June 11, 2025

WASHINGTON TOWNSHIP, N.J. — SRS Real Estate Partners has brokered the $6 million ground-lease sale of a 5,585-square-foot retail building in Washington Township, located outside of Philadelphia in Southern New Jersey. The building, which was completed in 2024, is net leased to convenience store operator Wawa on a 20-year, corporate-guaranteed deal. Patrick Nutt and William Wamble of SRS represented the seller, an East Coast-based developer, in the transaction. The buyer was a New Jersey-based 1031 exchange investor. Both parties requested anonymity.

June 11, 2025

Industrial Leasing Activity New Jersey Northeast

Newmark Secures 22,000 SF Industrial Lease in Wallington, New Jersey

by Taylor Williams June 11, 2025

WALLINGTON, N.J. — Newmark has secured a 22,000-square-foot industrial lease in the Northern New Jersey community of Wallington. According to LoopNet Inc., the 101,481-square-foot building at 480 Main Ave. was built in 1940 and renovated in 2004. Kyle Eaton, Robert Loderstedt, Michael Schipper and Haylee McCabe of Newmark represented the tenant, Excellent Packaging & Supply, in the lease negotiations. The name and representative of the landlord were not disclosed.

June 11, 2025

Acquisitions Industrial Nevada Western

Colliers Brokers Sale of 1 MSF Las Vegas Logistics Center

by Amy Works June 11, 2025

NORTH LAS VEGAS, NEV. — Colliers has arranged the sale of Las Vegas Logistics Center, a Class A industrial portfolio in North Las Vegas. NorthPoint Development acquired the asset for an undisclosed price. Totaling 1 million square feet, the portfolio consists of three buildings located at 3837 Bay Lake Trail, 3717 Bay Lake Trail and 3200 R. Gowan Road. At the time of sale, the 50.4-acre center was fully leased to five tenants, including Amazon, with a weighted average lease term (WALT) of 3.4 years. Las Vegas Logistics Center features 30- to 32-foot clear heights, 202 dock-high doors, deep concrete truck courts and generous trailer and auto parking. Michael Kendall, Gian Bruno and Kenny Patricia of Colliers’ West Region Industrial Capital Markets represented both parties in the transaction. Additionally, Jeremy Thornton, Nicole Sayers and Andrew Gibson of Colliers arranged acquisition financing for the buyer. Dan Doherty, Paul Sweetland and Jerry Doty of Colliers provided local market insight and leasing support throughout the transaction process.

June 11, 2025

Acquisitions Industrial Nevada Western

Panattoni Development Sells 169,027 SF Industrial Building in Reno

by Amy Works June 11, 2025

RENO, NEV. — Panattoni Development has completed the disposition of a freestanding industrial property located at 400 E. Parr Blvd. in Reno. An undisclosed owner/occupier in the kitchen and bath appliance industry acquired the asset for $20.5 million. Situated on 6.7 acres, the 169,027-square-foot facility was originally built in 1972 and renovated in 2016. The property features 25-foot clear heights, 18 dock doors, one grade door, ESFR sprinklers and skylights. Sears Outlet Stores previously tenanted the property. Mike Nevis and Shawn Jaenson of Cushman & Wakefield represented the seller in the transaction. Nevis and Jaenson were joined by Will Strong, Molly Hunt, Michael Matchett, Jack Stamets and Madeline Warren of the firm’s National Industrial Advisory Group – Mountain West, along with Jeff Chiate, Rick Ellison, Matthew Leupold and Aubrie Monahan of the IAG – West team.

June 11, 2025

Acquisitions Michigan Midwest Office

KJ Commercial Assembles Land Site for New Citizens State Bank Headquarters in Metro Detroit

by Kristin Harlow June 11, 2025

ROYAL OAK, MICH. — KJ Commercial has assisted Citizens State Bank (CSB) in the multi-parcel land assemblage for its new headquarters in the Detroit suburb of Royal Oak. After evaluating a range of opportunities, including existing buildings and redevelopment sites, the team decided that a ground-up development was the optimal long-term plan. Kevin Jappaya, David Jappaya and Preston Rabban of KJ Commercial identified a site in the Woodward Avenue corridor and negotiated the off-market purchase of the adjacent property, enabling the assemblage of the necessary acreage for CSB. The transaction closed simultaneously with two separate sellers. A timeline for construction was not provided.

June 11, 2025

Leasing Activity Michigan Midwest Retail

NRG Trampoline Park Signs 50,000 SF Retail Lease in Troy, Michigan

by Kristin Harlow June 11, 2025

TROY, MICH. — NRG Trampoline Park has signed a retail lease to open a 50,000-square-foot location at the northeast corner of 14 Mile and John R roads in Troy. NRG will take the space formerly occupied by Dick’s Sporting Goods adjacent to Oakland Plaza. Michael Murphy, Zach Burk and Tjader Gerdom of Gerdom Realty & Investment, along with Sean Kipp of Ranger Retail Partners, represented NRG in the lease. NRG operates locations across the country, but this lease marks the entertainment concept’s first location in Michigan.

June 11, 2025

Illinois Leasing Activity Midwest Retail

Whole Foods Market to Open 36,234 SF Store in St. Charles, Illinois on June 25

by Kristin Harlow June 11, 2025

ST. CHARLES, ILL. — Whole Foods Market is set to open a new 36,234-square-foot store at 300 S. 2nd St. in St. Charles, a western suburb of Chicago, on Wednesday, June 25. The location’s product assortment will feature more than 650 products from the Midwest, sourced with the help of Margie Omastiak, forager for local and emerging brands at Whole Foods. There will be a specialty department dedicated to cheesemakers and artisan producers; a full-service seafood counter; full-service meat counter; an extensive selection of craft beers, spirits and wines; a prepared foods department; bakery department; and wellness and beauty department. Whole Foods will present Chicago-based supplier Evergreen with a low-interest loan through the Whole Foods Market Lending Program to help grow its operations and support expansion to more Whole Foods locations.

June 11, 2025

Newer Posts

Older Posts