LAS VEGAS — Visionary III and Matterhorn Venture Partners have acquired a 6.5-acre development site in the North Las Vegas Valley industrial submarket for the development of North & North Business Park, a speculative industrial project in Las Vegas. Located at the southwest corner of North Nellis and North Las Vegas boulevards, North & North Business Park will offer three industrial buildings for lease for sale to individual users. Construction is slated to begin this summer.
LEADVILLE, COLO. — Cloudland Capital and Blue Hour Housing have received $5 million in financing for Silver King Leadville, a workforce housing community in Leadville. William Haass of JLL Capital Market’s Debt Advisory team secured the five-year, fixed-rate loan through a Colorado-based credit union. Located at 2020 N. Poplar St., Silver King offers 56 apartments. Formerly a 66-key hotel, the property was acquired in June 2024 and underwent a comprehensive renovation to convert the asset into a modern workforce housing community. The renovated property now features 47 studios, eight one-bedroom units and one two-bedroom unit, with an average size of 375 square feet. The renovation included adding kitchenettes to all units, installation and improvement of fire and life safety systems, upgrading common areas, building out communal laundry and gym facilities, adding storage lockers and enhancing outdoor spaces. Silver King is master-leased to Climax Molybdenum Co., a subsidiary of Freeport-McMoRan, providing housing for Climax employees and residents of Colorado’s high-country. Six units have been reserved to Lake County, Colo., to allow employees of Lake County access to this workforce housing community.
TEMPE, ARIZ. — Captiva Partners has purchased a multi-tenant, small-bay industrial property located at 2209-2211 W. 1st St. in Tempe in an off-market transaction for an undisclosed price. Captiva plans to rebrand the 40,075-square-foot property as First Street Commerce Center and implement a comprehensive value-add business plan to elevate its appeal and functionality. Planned renovations include new signage, refreshed landscaping, exterior painting and upgraded interiors. Cory Breinholt of Commercial Properties represented the buyer and seller in the deal.
STRONGSVILLE, OHIO — Berkadia has arranged a $49.1 million acquisition loan for Chestnut Lake in Strongsville, a southern suburb of Cleveland. The 788-unit multifamily property is located at 17721 Whitney Road and offers amenities such as an outdoor pool, playground, fitness center, hair salon and grilling and picnic areas. Robert Lipson of Berkadia arranged the Fannie Mae loan on behalf of the buyer, New Jersey-based Brookhaven Property Group. The 10-year loan featured a 5.71 percent interest rate and a 30-year amortization schedule.
ROSEMOUNT, MINN. — Opus has completed a 90,000-square-foot recycling facility expansion for Spectro Alloys in Rosemount, a southern suburb of St. Paul. Spectro Alloys is a secondary foundry alloy producer in the Midwest. The addition enables the company to expand its product offering into billet from post-consumer scrap aluminum. Equipment will be assembled and calibrated in the facility over the next several months. With first production expected during the second half of 2025, the new facility creates an estimated 50 new jobs and adds nearly 120 million pounds per year of additional recycling capacity. Full production ramp-up is expected in the first quarter of 2026. Opus was the design-builder and architect.
CHICAGO — Greenstone Partners has negotiated the $5.3 million sale of a creative loft office building located at 405 W. Superior St. in Chicago’s River North neighborhood. The value-add property features a diverse tenant mix, including one retail tenant as well as full-floor occupants spanning a variety of technology, energy and marketing companies. There are also more than two dozen tenants operating under short-term coworking agreements with the Expansive shared office brand. The floor plates are 7,200 square feet. Jason St. John and Danny Spitz of Greenstone represented the seller, Expansive. Mitchell Loveman and Jimena Sayavedra of Newmark represented the buyer, Self-Help Ventures Fund.
KANSAS CITY, MO. — Tierra Encantada, a Spanish immersion early education company, has signed a 14,440-square-foot retail lease at 114 W. Gregory Blvd. in Kansas City. The former home of Reece Nichols, the Brookside location offers a newly remodeled roof, mechanical equipment and interior. Tierra Encantada currently has 17 locations in the U.S., and the new lease marks its second in the greater Kansas City area. Marshal Blount of Block & Co. Inc. Realtors represented the undisclosed landlord, while CBRE represented the tenant.
Boulder Group Brokers $4.2M Sale of Restaurant Property Leased to Uncle Julio’s in Lombard, Illinois
LOMBARD, ILL. — The Boulder Group has brokered the $4.2 million sale of a 10,682-square-foot restaurant property occupied by Uncle Julio’s in the Chicago suburb of Lombard. The single-tenant building is located at 2360 Fountain Square Drive. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a Midwest-based developer. The buyer was a private investor from Illinois. Headquartered in Irving, Texas, Uncle Julio’s is a chain of Mexican restaurants.
COLUMBUS, OHIO — Anduril, a defense and aerospace contractor, has selected a site in Columbus for Arsenal-1, the company’s first hyperscale weapons manufacturing facility. The Southern California-based firm plans to invest approximately $1 billion of its own capital into the development. Anduril expects the new Arsenal plant to create more than 4,000 direct jobs in Pickaway County and the surrounding areas, as well as 8,500 indirect jobs from suppliers, construction and other sectors. The company says the project represents the largest single job-creation development in the history of Ohio. At full scale, the facility will span 5 million square feet and produce tens of thousands of military systems annually, according to Anduril. The firm will produce most of its suite of autonomous weapons, sensors and systems at the facility. “Today is a proud day for Ohio as we welcome Anduril and celebrate the creation of thousands of new jobs in cutting-edge defense manufacturing,” said Ohio Lt. Governor Jon Husted. “This investment reinforces Ohio’s position as a leader in advanced technology and national security.” The site is located near Rickenbacker Airport and features two 12,000-foot runways and a 75-acre private apron that will accommodate military-scale aircraft for delivery purposes. The site …
RICHARDSON, TEXAS — Affinius Capital has provided an $81.3 million loan for the refinancing of Belt & Main, a 350-unit apartment community located in the northeastern Dallas suburb of Richardson. Belt & Main houses 269 one-bedroom residences and 81 two-bedroom apartments, as well as 17,000 square feet of retail space. Units feature quartz countertops, wood-style flooring, stainless steel appliances, custom cabinetry, floor-to-ceiling windows and full-size washers and dryers. Select units also offer patios and balconies. Amenities include a pool, grilling stations with open-air dining areas, coffee and coworking spaces with Wi-Fi connectivity, onsite storage units and a fitness center. Jeremy Sain of JLL arranged the loan on behalf of the borrower, Catalyst Urban Development.