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.
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.
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.
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.
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.
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.
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.
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 …
— By Leah Masson, senior director, Cushman & Wakefield — The real estate landscape in the Puget Sound region is shaped by a dynamic contrast between the Eastside and Downtown Seattle. The Eastside continues to thrive, particularly with its robust tech activity. Major developments, such as the Eight, Skanska’s 540,000-square-foot project, is nearing full occupancy, underscoring the area’s strong demand. OpenAI is actively seeking space on the Eastside, with expectations of more artificial intelligence groups to follow. It’s worth noting that the Eastside is not plagued by the safety issues that have been a concern for Downtown Seattle. The anticipated 2025 opening of the light rail is set to drive even more growth in the area. Downtown Seattle is also experiencing an uptick in leasing activity, with active tenants expanding in terms of both square footage and lease term lengths. Since 2021, professional services groups, such as law and engineering firms, have been the primary drivers of leasing, but there is now a welcome return of tech companies to the Seattle market. New AI-focused tenants are beginning to emerge, moving out of coworking spaces and seeking permanent office locations in the city. However, Downtown Seattle continues to face significant challenges, …
ROUND ROCK, TEXAS — Seattle-based developer and operator Sabey Data Centers has completed a 430,000-square-foot facility in the northern Austin suburb of Round Rock. Known as SDC Austin, the two-building development is situated on a 40-acre site and has the capacity to produce up to 84 megawatts of power. The facility is designed to support liquid cooling and high-density computing environments with capabilities of up to 200 kilowatts per cabinet, and one such user, the Texas Advanced Computing Center, has already committed to the campus. The project was first announced in spring 2022.