Sunday, June 15, 2025
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Trailhead-Preserve-Bremerton-WA
LoansMultifamilyWashingtonWestern

CBRE Arranges $22.8M Refinancing for Trailhead at the Preserve Apartment Complex in Bremerton, Washington

by Amy Works

BREMERTON, WASH. — CBRE, on behalf of Sage Homes Northwest, has arranged a $22.8 million loan for the refinancing of Trailhead at Preserve, a new apartment complex located at 1970 N.E. Fuson Road in Bremerton. Built in May 2024, Trailhead at Preserve offers 109 studio, one- and two-bedroom apartments and private access to nature trails at the Illahee Preserve. James Bach, Connor Lemley, Regina Wang and Griffin Walker of CBRE Capital Markets’ Debt & Structured Finance in Seattle represented the borrower in securing a full-term, interest-only bridge loan with a prominent debt fund lender to refinance the borrower’s existing construction loan.

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Willowbrook-Crossing-Westminster-CO
AcquisitionsColoradoMultifamilyWestern

Pinnacle Real Estate Advisors Directs $13.5M Sale of Willowbrook Crossing Multifamily Community in Westminster, Colorado

by Amy Works

WESTMINSTER, COLO. — Pinnacle Real Estate Advisors has brokered the sale of Willowbrook Crossing, an apartment property in Westminster. The asset traded for $13.5 million, or $142,105 per unit. Willowbrook Crossing features 95 studio and one-bedroom apartments. Josh Newell and Jake Waxter of The Newell Team at Pinnacle Real Estate Advisors represented the undisclosed seller and the undisclosed buyer in the deal.

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EOV-Portfolio-San-Diego-County-CA
CaliforniaIndustrialLoansOfficeWestern

Equity Oak Ventures Receives $12.2M in Financing for Four-Building Flex Portfolio in San Diego County

by Amy Works

RANCHO BERNARDO AND CARLSBAD, CALIF. — Equity Oak Ventures has received $12.2 million in portfolio financing for a four-building flex industrial, research-and-development (R&D) and office portfolio in San Diego County. Alex Witt, Chris Collins and Daniel Pinkus of JLL Debt Advisory’s team represented Equity Oak Ventures in securing a fixed-rate, three-year loan. The fully leased portfolio includes a 42,865-square-foot, three-building flex industrial and office campus in Rancho Bernardo and a 44,757-square-foot R&D and cGMP (Current Good Manufacturing Practice) facility within Carlsbad Research Center, repositioned post-acquisition with long-term leases. The Rancho Bernardo asset, located at 11225, 11235 and 11245 W. Bernardo Court, consists of three buildings totaling 42,865 square feet, including a single-tenant, 29,000-square-foot flex industrial building. Located at 1900 Aston Ave. in Carlsbad, the property occupies a corner lot and features dock-level doors, multiple roll-up doors, temperature-controlled industrial space and high-quality office improvements. The newest tenant has signed a long-term lease and is making an investment in a large-scale cGMP facility.

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DevelopmentIllinoisIndustrialMidwest

TCC Breaks Ground on 788,000 SF Spec Warehouse in Metro Chicago

by Kristin Harlow

PLAINFIELD, ILL. — Trammell Crow Co. (TCC) has broken ground on a 788,000-square-foot speculative warehouse in Plainfield, about 40 miles southwest of downtown Chicago. The building marks the first speculative warehouse in Plainfield Business Center and is slated for completion in fall 2025. The facility will feature a clear height of 40 feet, 80 dock doors and 211 trailer stalls. The 52-acre site offers proximity to I-55 and I-80. Upon full build-out, Plainfield Business Center will total more than 8 million square feet. The project team includes Harris Architects, Krusinski Construction Co. and civil engineer Kimley-Horn and Associates. Matt Mulvihill and Phil DeBoer of CBRE represented TCC in acquiring the land and are marketing the property for lease.

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DevelopmentMidwestMultifamilyWisconsin

McShane Completes Construction of 70-Unit Apartment Complex in Madison, Wisconsin

by Kristin Harlow

MADISON, WIS. — McShane Construction Co. has completed The Derby, a 70-unit apartment complex with affordable housing units in Madison. Lincoln Avenue Communities was the developer. Income restrictions were not provided, but 14 of the units meet Wisconsin Housing and Economic Development Authority accessibility requirements. The project features 1,100 square feet of ground-floor office space for a local community group and 2,600 square feet of amenity spaces with a kitchen, fitness room, laundry room, outdoor space, playground and dog park. Knothe & Bruce Architects designed the four-story property. The project is Enterprise Green Communities Certified and features a full solar array system on the roof to power the common areas.

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DevelopmentIllinoisIndustrialMidwest

Saxum Real Estate Begins Development of 294,840 SF Cold Storage Project in Joliet, Illinois

by Kristin Harlow

JOLIET, ILL. — Saxum Real Estate, along with its partner Black Salmon, has begun development of a 294,840-square-foot cold storage project for Arcadia Cold in Joliet. Marc Duval, Ed Halaburt and Wells Waller of JLL represented the owner in securing joint venture equity. Bank OZK is providing debt financing. Clayco is the general contractor. The project will feature a clear height of 50 feet and convertible rooms. Completion is slated for the first quarter of 2026. Arcadia is the seventh-largest cold storage operator in the U.S., according to a release.

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AcquisitionsHealthcareMidwestMissouri

Marcus & Millichap Arranges $8.8M Sale of Medical Office Building in Bridgeton, Missouri

by Kristin Harlow

BRIDGETON, MO. — Marcus & Millichap has arranged the $8.8 million sale of a 22,097-square-foot medical office building in Bridgeton, a northwest suburb of St. Louis. Located at 3550 McKelvey Road, the property is occupied by St. Louis Heart and Vascular. There are more than 17 years remaining on the triple-net lease. Built in 1974, the facility is situated near DePaul Hospital. Alec Coronado of Marcus & Millichap represented the seller, an out-of-state developer, and procured the buyer, Montecito Medical.

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210-220-E.-22nd-St
AcquisitionsMultifamilyNew YorkNortheast

JLL Negotiates $104.5M Sale of Manhattan Apartment Building

by Taylor Williams

NEW YORK CITY — JLL has negotiated the $104.5 million sale of a 204-unit apartment building located in Manhattan’s Gramercy Park neighborhood. The seven-story building at 210-220 E. 22nd St. comprises 82 studios, 75 one-bedroom units, 39 two-bedroom residences and eight three-bedroom apartments. Amenities include a fitness center, resident lounge and onsite laundry facilities. Andrew Scandalios, Jeffrey Julien, Rob Hinckley and Steven Rutman of JLL represented the undisclosed seller in the transaction. The team also procured the buyer, a joint venture between New York-based Canvas Property Group, Declaration Partners and Tokyu Land US Corp. The property was 95 percent occupied at the time of sale.

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DevelopmentIndustrialNew YorkNortheastSelf-Storage

Diamond Point Development Breaks Ground on 800-Unit Self-Storage Facility in Carmel, New York

by Taylor Williams

CARMEL, N.Y. — Diamond Point Development has broken ground on an 800-unit self-storage facility in Carmel, about 60 miles north of New York City in the Hudson Valley region. The multi-story facility will comprise 81,000 net rentable square feet of climate-controlled space. Diamond Point is developing the facility in partnership with Dallas-based Rosewood Property Co. Extra Space Storage will manage the property, which is expected to be complete in late 2025.

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Company NewsIndustrialNortheastPennsylvania

Infinera Plans Expansion of Lehigh Valley Semiconductor Manufacturing Facility

by Taylor Williams

ALLENTOWN, PA. — Infinera (NASDAQ: INFN) has signed a nonbinding preliminary memorandum of terms to receive up to $93 million in funding under the CHIPS and Science Act, proceeds of which would be used to expand the California-based semiconductor manufacturer’s Lehigh Valley facility. Funding would also be allocated toward the expansion and modernization of the company’s Silicon Valley facility, and the projects could support the creation of as many as 1,700 manufacturing and construction jobs.

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