Saturday, April 11, 2026
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FloridaIndustrialLoansSoutheast

Foundry, American Realty Advisors Obtain $57M Loan for Osprey Logistics Park in South Florida

by John Nelson

CORAL SPRINGS, FLA. — A joint venture between Foundry Commercial and American Realty Advisors has obtained a $57 million loan for Osprey Logistics Park, a 427,515-square-foot industrial park located at 12000 N.W. 39th St. in Coral Springs, a city in South Florida’s Broward County. Steven Klein, Melissa Rose, Nicole Barba and Preston Bacon of JLL arranged the floating-rate loan through Synovus Bank. Built in 2023, Osprey Logistics Park sits on 22.2 acres adjacent to Sawgrass Expressway and Sample Road. Features include 36-foot clear heights, 180-foot truck courts, 235-foot depths and 54-foot column spacing.

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AcquisitionsFloridaIndustrialOfficeSoutheast

Savlan Capital Purchases Office, Flex Portfolio in Jacksonville for $52M

by John Nelson

JACKSONVILLE, FLA. — Savlan Capital has purchased a seven-building office and flex portfolio in Jacksonville for $52 million. An undisclosed financial institution sold the properties, which span 765,190 square feet and are situated within the Lakeside and Flagler Center business parks. Robbie McEwan and Hunter Smith of JLL represented the buyer and seller in the transaction. The portfolio was 57.2 percent leased at the time of sale to tenants including HTS Logistics (corporate headquarters), Kimley-Horn, EY, Pulte Home Co., Siemens Mobility, United Healthcare Service and Total Quality Logistics.

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AcquisitionsGeorgiaRetailSoutheast

Prudent Growth Partners Acquires Metro Atlanta Retail Center for $7.3M

by John Nelson

LAWRENCEVILLE, GA. — North Carolina-based Prudent Growth Partners has acquired Sugarloaf Village, a 32,000-square-foot shopping center located in Lawrenceville, for $7.3 million. The seller was not disclosed. Situated approximately 30 miles northeast of downtown Atlanta, the property was originally built in 2008 and features a mix of 17 tenants including lifestyle retailers and service providers such as a nail salon, pet groomer and barber shop. Other nearby retailers include AT&T, Starbucks Coffee, Publix, Target, Marshalls, Aldi, The Home Depot, PetSmart, Hobby Lobby and Panera Bread.

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Affordable HousingDelawareDevelopmentLoansMultifamilyNortheast

CPC, Pennrose Receive $6.8M in Agency Financing for Delaware Affordable Housing Project

by Taylor Williams

WILMINGTON, DEL. — An affiliate of Community Preservation Corp. (CPC) and Pennrose has received a $6.8 million Freddie Mac loan for Imani Village Phase IV, an affordable housing project in northeast Wilmington. Phase IV of the eight-phase project, which will eventually add more than 700 units to the local supply, totals 84 units that will be subject to a range of income restrictions. In addition, nine units will be set aside for renters with special needs. Construction is scheduled to begin before the end of the year and to be complete in 2027.

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Leasing ActivityNew YorkNortheastOffice

Law Firm Signs 57,988 SF Office Lease in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — Steptoe LLP has signed a 57,988-square-foot office lease in Midtown Manhattan. The international law firm will occupy three full floors at 1133 Avenue of the Americas, a 45-story, 1.1 million-square-foot building. Timothy Dempsey and Greg Maurer-Hollaender of CBRE represented Steptoe in the lease negotiations. Rocco Romeo and Nora Caliban represented the landlord, The Durst Organization, on an internal basis.

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CaliforniaDevelopmentLoansMultifamilyWestern

IPA Capital Markets Secures $76M in Construction Financing for Multifamily Development in Monrovia, California

by Amy Works

MONROVIA, CALIF. — IPA Capital Markets, a division of Marcus & Millichap, has arranged $76 million in construction financing for The Monroe, a Class A multifamily and retail development in Monrovia. The project is currently under construction and scheduled for completion in September. Located at 127 W. Pomona Ave., The Monroe will feature 232 apartments and 7,050 square feet of ground-floor commercial space. Apartments will range from studios to three-bedroom units, with 25 of the units designated affordable for low- and moderate-income households. Additionally, the property will have 302 residential parking spaces and 85 public parking spaces. Community amenities will include a gym, swimming pool, clubhouse, barbecue area, rooftop patio and conference/meeting rooms. Stefen Chraghchian of IPA Capital Markets secured the financing with Affinius Capital on behalf of Adept Urban Development.

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ArizonaDevelopmentLoansRetailWestern

JLL Arranges $42.5M Equity Placement for Papago Marketplace Mixed-Use Project in Metro Phoenix

by Amy Works

SCOTTSDALE, ARIZ. — JLL Capital Markets has arranged a $42.5 million equity placement for Papago Marketplace, a 55,500-square-foot mixed-use development located in the Phoenix suburb of Scottsdale. Patrick Dempsey and Quin Madden of JLL represented the developer, Pivot Development Co., in securing the equity placement on behalf of an undisclosed institutional advisor. A 23,343-square-foot Sprouts Farmers Market will anchor the project upon completion, which is scheduled for August 2026. Construction is expected to begin this month. Over the past five years, the development of Papago Marketplace has included a 276-unit luxury apartment complex, a 116-room hotel and a mix of retail tenants. The project is currently 80 percent preleased.

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AcquisitionsCaliforniaIndustrialWestern

Lincoln Property Co., Brasa Capital Acquire Spectrum Tech Center in San Diego for $26.2M

by Amy Works

SAN DIEGO — Lincoln Property Co. and Brasa Capital Management have purchased Spectrum Tech Center, an industrial and flex property in the Kearny Mesa submarket of San Diego, for $26.2 million. The new owners will rebrand the asset as Spectrum Logistics Center and plan renovations designed to align the site with current market demand for industrial space. The existing industrial building will be renovated and the existing vacant office building will be demolished and replaced with a 3.7-acre industrial outdoor storage (IOS) yard. The owners will begin demolition and construction activity on the site immediately, with delivery planned for late summer 2026. Located at 4820 Overland Ave. and 9112 Spectrum Center Blvd., Spectrum Tech Center currently comprises two buildings totaling 161,981 square feet on two parcels totaling 8.8 acres. The asset includes a two-story, 59,460-square-foot corporate headquarters building and a 102,521-square-foot technical R&D, manufacturing and distribution space.

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695-Jerry-St-Castle-Rock-CO
AcquisitionsColoradoMixed-UseRestaurantRetailWestern

Platinum CRE Brokers $6.4M Sale of Mixed-Use Property in Castle Rock, Colorado

by Amy Works

CASTLE ROCK, COLO. — Platinum Commercial Real Estate has arranged the acquisition of 600 and 695 Jerry Street in Castle Rock. PYFR LLC purchased the asset from RA Morrison LLC for $6.4 million. The property comprises a 25,380-square-foot, four-story mixed-use building and a 4,850-square-foot single-tenant restaurant. At the time of sale, the property was 93.7 percent occupied. Paul Cattin of Platinum CRE represented the buyer, while Campbell Davis, Parker Brown and Matthew Henrichs of CBRE represented the seller in the deal.

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6400-Lear-Lane-Prescott-AZ
AcquisitionsArizonaIndustrialNet LeaseWestern

Marcus & Millichap Negotiates Sale of 10,060 SF Net-Leased Warehouse in Prescott, Arizona

by Amy Works

PRESCOTT, ARIZ. — Marcus & Millichap has negotiated the sale of a warehouse and industrial outdoor storage property located at 6400 Lear Lane in Prescott. An individual/personal trust acquired the asset from Arizona Industrial Development for $4.4 million. Constructed in 2025, the asset comprises a 10,060-square-foot warehouse on a 2.9-acre site. The property is leased to a national credit tenant on a new 10-year, absolute net lease with a corporate guarantee. Paul Berkner of Marcus & Millichap represented the buyer, while Sev Keshishian of Marcus & Millichap procured the buyer in the deal.

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