BOSTON — Marcus & Millichap has brokered the $7.9 million sale of three retail buildings totaling 20,924 square feet in Massachusetts and New Hampshire that are leased to automotive services provider Town Fair Tire. The Massachusetts buildings are located in Billerica and Brockton, and the New Hampshire property is located in Nashua. Jim Koury and Alex Quinn of Marcus & Millichap represented the seller, Orion Buying Corp., in the deal. Ryan Wilmer, also with Marcus & Millichap, procured the buyer of the Massachusetts buildings. Robert Rohrer Jr. of Colliers represented the buyer of the New Hampshire asset.
NEW YORK CITY — CBRE will open a 64,350-square-foot “global financial headquarters” office at 390 Park Avenue in Manhattan. The space spans six floors within the building, which is known locally as Lever House and recently underwent a $100 million capital improvement program. Coworking concept Industrious, which CBRE recently agreed to acquire, designed and will operate the space. Occupancy is slated for the fourth quarter. A partnership between WatermanClark and Brookfield Properties owns 390 Park Avenue.
TUCSON, ARIZ. — Schnitzer Properties has broken ground on two industrial developments in Tucson. The $73 million total investment in two Class A industrial spaces will provide workspaces for small and mid-size manufacturers and distributors. The two projects are Corona Commerce Center, totaling 146,963 square feet at 2717 E. Corona Road, and Drexel Commerce Center, offering 184,080 square feet spread across two buildings. Both properties will offer flexible leasing options, with spaces ranging from 6,700 square feet to 184,080 square feet. The development team includes Schnitzer Properties, Sun Corridor and Willmeng Construction.
ENGLEWOOD, COLO. — A joint venture between DPC Cos. and Ogilvie Partners has acquired Englewood CityCenter for an undisclosed price. Brad Lyons of CBRE handled the transaction. Englewood CityCenter offers 220,000 square feet of office, retail and multifamily space. The joint venture is working with the City of Englewood on a master redevelopment plan to transform Englewood CityCenter into a community center with multifamily housing, open space for community gathering and a walkable live/work/shop area with retail, services, restaurants and a hotel within the 12-acre site. At the time of sale, the property was 40 percent leased. Current tenants include Harbor Freight, Ross Dress for Less, Petco, Tokyo Joe’s, Jersey Mike’s Subs and Einstein Bros.
SRS Real Estate, Hanley Investment Group Broker $7.2M Sale of Retail Property in Corning, California
CORNING, CALIF. — SRS Real Estate Partners and Hanley Investment Group have arranged the sale of a retail property located at 570 Solano St. in Corning, approximately 25 miles from Chico. A Redding, Calif.-based private investor sold the asset to a Napa Valley, Calif.-based private investor for $7.2 million. Sav-Mor Foods occupies the 32,000-square-foot property, which is situated on 2.6 acres. The store is run by North State Grocery, which operates 21 locations in California and Oregon. Alexander Moore of SRS Capital Markets and Lee Csenar of Hanley Investment Group represented the seller in the transaction.
POWAY, CALIF. — Coastal Holdings Group has acquired an industrial building located at 12155 Paine Place in Poway for $4.1 million from Bergo Enterprises. The buyer plans to use the 11,050-square-foot property to accommodate its electrical contracting business. Chris Duncan of Voit Real Estate Services represented the buyer, while Robb Kerr of Intersection Commercial Real Estate represented the seller in the deal. Prior to the acquisition of 12155 Paine Place, Duncan brokered the $3.4 million sale of an 8,049-square-foot industrial building located at 13851 Danielson St. on behalf of Coastal Holdings Group. Escobar Family Real Estate Holdings acquired the asset as an investment property. Travis Jaedtke of Strategic Real Estate Group represented the buyer.
PUEBLO, COLO. — Pinnacle Real Estate Advisors has arranged the sale of Oxford Pines Apartments, located at 1024-1026 Oxford St. and 28 Amherst Ave. in Pueblo. The three-building property offers 35 one- and two-bedroom units, many with private balconies, as well as 23 carports and two garages. Chris Knowlton of Pinnacle Real Estate Advisors represented the undisclosed seller and undisclosed buyer in the deal. The asset traded for $3.1 million, or $90,000 per unit.
NOBLESVILLE, IND. — CBRE has arranged the sale of Federal Hill Apartments, a 222-unit multifamily property in the Indianapolis suburb of Noblesville. The sales price was undisclosed. Built in 2024, the asset features a range of studio, one- and two-bedroom floor plans averaging 863 square feet. Amenities include a fitness center, pool, indoor pet grooming spa, electric vehicle charging stations and an outdoor grilling area. There are three onsite retailers — Indie Coffee Roasters, Café Noricha and Bocado. Hannah Ott, George Tikijian, Cam Benz, Clair Hassfurther, Ryan Stockamp and Sean Pingel of CBRE represented the seller, Old Town Cos. Summit Equity Investments was the buyer.
TROTWOOD, OHIO — KeyBank Community Development Lending and Investment (CDLI) has provided a $9.8 million construction loan, a $3.7 million permanent loan and $9.4 million in low-income housing tax credit financing for the construction of Jalen Lofts in Trotwood, a suburb of Dayton. The 66-unit workforce and affordable housing community will be designated for families who earn between 30 and 80 percent of the area median income. The project marks a co-developer, co-owner partnership between Pivotal Housing Partners and The Trotwood Community Improvement Corp. Jalen Lofts marks a significant milestone in the community’s efforts to rejuvenate areas adversely impacted by the 2019 Dayton tornadoes, according to KeyBank. The City of Trotwood received a most impacted and distressed (MID) area designation by HUD because of the tornado damage and was allocated $10.5 million in Community Development Block Grant Disaster Recovery funds to help rebuild rental developments. Derek Reed and David Lacki of KeyBank CDLI structured the financing.
BELLEVUE, NEB. — Investors Realty Inc. has brokered the $13.6 million sale of the Twin Creek Shopping Center in Bellevue, a southern suburb of Omaha. Situated at the intersection of 36th Street and Highway 370, the property consists of eight retail buildings totaling 83,085 square feet. Ember Grummons of Investors Realty represented the seller, River Village Twin Creek LLC. Tim Kerrigan, Grant Kobes and Jarrot Simon of Investors Realty represented the buyer, Classic Street Partners LLC.