Wednesday, June 11, 2025
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4200-04-Adams-Ave-San-Diego-CA
AcquisitionsCaliforniaRetailWestern

Marcus & Millichap Brokers Sale of 4,673 SF Adams Heritage Row Retail Center in San Diego

by Amy Works

SAN DIEGO — Marcus & Millichap has arranged the sale of Adams Heritage Row, a corner retail center located at 4200-04 Adams Ave. in San Diego’s Kensington neighborhood. The Davis/Logan Family Trust sold the asset to an undisclosed buyer for $2.9 million. Ross Sanchez and Nick Totah of Marcus & Millichap’s The Totah Group represented the seller in the deal. Constructed in 1935, Adams Heritage Row offers 4,673 square feet of multi-tenant retail space, occupied by Pappalecco Italian Café and The OAS Center, as well as an adjacent seven-space parking lot.

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AcquisitionsHospitalityLoansMassachusettsNortheast

JLL Arranges Sale, Financing of Two Hotels Totaling 238 Rooms in Devens, Massachusetts

by Taylor Williams

DEVENS, MASS. — JLL has arranged the sale and financing of two hotels totaling 238 rooms in Devens, about 35 miles northwest of Boston. The 118-room Hilton Garden Inn Devens and 120-room SpringHill Suites Devens both offer indoor pools, fitness and business centers and meeting/event space. Alan Suzuki, Matthew Enright and Emily Zhang of JLL represented the seller, RA Ventures, in the transaction. Amy Lousararian and Hugh Doherty of JLL arranged acquisition financing on behalf of the undisclosed buyer(s). BankProv provided the loan for the Hilton Garden Inn, and Avidia Bank funded the acquisition of the SpringHill Suites.

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AcquisitionsMassachusettsNortheastRetail

Marcus & Millichap Brokers $4.8M Sale of Shopping Center in Westborough, Massachusetts

by Taylor Williams

WESTBOROUGH, MASS. — Marcus & Millichap has brokered the $4.8 million sale of Westmeadow Plaza, a retail center located in Westborough, roughly 35 miles west of Boston. Tenants at the 27,867-square-foot center include Papa Gino’s, H&R Block, Westborough Dentistry and Spices of India. Westmeadow Plaza’s tenant roster spans 15 users, and the property was fully leased at the time of sale. Evan Griffith, Tony Pepdjonovic and Brett Kilar of Marcus & Millichap represented the seller and procured the buyer in the transaction.

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Leasing ActivityNew YorkNortheastOffice

Mirae Asset Securities Signs 34,640 SF Office Lease Expansion, Extension in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — Mirae Asset Securities has signed a 34,640-square-foot office lease expansion and extension in Midtown Manhattan. The financial institution renewed its existing 17,320-square-foot lease that covers the entire 37th floor at 810 Seventh Avenue for an additional 10 years and took another 17,320 square feet across the entire 38th floor. Neil Goldmacher and John Moran of Newmark represented the tenant in the lease negotiations. Harry Blair, Tara Stacom, Barry Zeller, Justin Royce and Pierce Hance of Cushman & Wakefield represented the landlord, SL Green.

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AcquisitionsMidwestMultifamilyWisconsin

Breneman Capital Acquires 58-Unit Apartment Complex in Madison, Wisconsin

by Kristin Harlow

MADISON, WIS. — Breneman Capital has acquired Fairhaven Court Apartments in Madison for an undisclosed price. The 58-unit apartment complex is located on Fairhaven Road. The property was built in two phases and includes a townhome building from 2007 and an apartment building from 2014. Units range from 579 to 1,528 square feet. Bruner Realty will manage the property. Breneman plans to make light renovations to select units.

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DevelopmentMidwestOhioRetail

Topgolf to Open Fourth Ohio Location in Akron

by Kristin Harlow

AKRON, OHIO — Topgolf is set to open its fourth Ohio location in Akron on Friday, Nov. 8. The golf venue is located at 600 Swartz Road in the former BigShots Golf Firestone property. Topgolf Akron features 44 outdoor climate-controlled hitting bays spanning two levels. The venue is equipped with Topgolf’s Toptracer technology, which traces each golf ball’s flight path and distance. Guests will receive half-price gameplay from Nov. 8-21, according to a release.

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DevelopmentHospitalityLoansMidwestNebraska

PACE Loan Group Provides $3M C-PACE Loan for Construction of Dual-Brand Marriott Hotel in Nebraska

by Kristin Harlow

COLUMBUS, NEB. — PACE Loan Group has provided a $3 million C-PACE loan for a dual-branded TownePlace Suites and Fairfield Inn & Suites by Marriott hotel under construction in Columbus, about 75 miles northwest of Lincoln. A regional bank provided a $10.5 million first mortgage. The C-PACE loan will be used to build the 102-room property. C-PACE proceeds will finance energy conservation and renewable energy measures, including high-efficiency HVAC and Domestic Hot Water (DHW) fixtures, low U-factor windows and interior LED lighting. Renewable and energy conservation measures are expected to save $64,224 annually. Construction is scheduled for completion this month.

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AcquisitionsIllinoisMidwestMultifamily

Marcus & Millichap Arranges $3M Sale of Multifamily Property in Chicago

by Kristin Harlow

CHICAGO — Marcus & Millichap has arranged the sale of a 25-unit multifamily property in Chicago for nearly $3 million. Built in 1928, the property is located at 2253 W. 111th St. in the city’s Morgan Park neighborhood. There are 25 two-bedroom floor plans across 31,185 rentable square feet. Jack Stanton and Kyle Stengle of Marcus & Millichap’s Stengle Stanton Group represented the seller, a longtime local investor. Buyer information was not provided.

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AcquisitionsIllinoisIndustrialMidwest

Brown Commercial Group Negotiates Sale of 20,000 SF Industrial Building in Suburban Chicago

by Kristin Harlow

ELK GROVE VILLAGE, ILL. — Brown Commercial Group has negotiated the sale of a 20,000-square-foot industrial building in the Chicago suburb of Elk Grove Village for $1.9 million. The property is located at 989 Pauly Drive. Mason Hezner of Brown represented the buyer, AES USA Corp., a distributor of flexible conduit systems for heavy industrial automotive markets. The buyer is moving from a 10,000-square-foot space in Elk Grove Village. CBRE represented the seller, Rumco Acquisition Corp.

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Rogers-Pull-Quote
DevelopmentMarylandMultifamilyStudent HousingTop Stories

Landmark Properties Unveils Plans for 2,079-Bed Student Housing Project in College Park, Maryland

by Taylor Williams

COLLEGE PARK, MD. — Landmark Properties, a student housing owner-operator based in Athens, Ga., has unveiled plans for The Mark College Park, a 2,079-bed project that will be located adjacent to the University of Maryland’s campus.   The 4.5-acre site currently houses two condo buildings that are known as College Park Towers. Landmark plans to acquire the condo buildings and land for the development in 2026. Completion of the new student housing community is slated for fall 2029. WDG Architecture is designing The Mark, and Landmark’s construction arm (Landmark Construction) is serving as the general contractor. Plans currently call for two 10-story buildings totaling 601 units that will come in studio to five-bedroom floor plans. Residences will feature stainless steel appliances, quartz countertops, hardwood-style floors and in-unit washers and dryers. Additionally, residents at The Mark will have access to covered garage parking and reserved parking for an additional charge. Amenities will include three quad-like open green spaces on the ground floor, as well as a fitness center and a paseo with tree coverage and green space. This feature will bisect the property north to south to improve pedestrian connectivity. In addition, an amenity deck atop the parking garage will offer …

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