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1200 Corporate Place
FloridaOfficeSoutheast

IPA Facilitates $31.4M Sale of Office Property in Boca Raton, Florida

by Abby Cox

BOCA RATON, FLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has facilitated the $31.4 million sale of 1200 Corporate Place, a 137,021-square-foot, Class A office property in Boca Raton. Situated at the intersection of Glades Road and Federal Highway/U.S. Route 1, the property was originally built in 1984 and renovated in 2024 with improvements such as a modernized lobby with water feature upgrades, full parking lot resurfacing and new landscaping. The building, which sits on more than five acres, also includes a four-story central atrium lobby, two-story parking garage and a full-service café for tenants and visitors. The building was 84 percent leased at the time of sale. Douglas Mandel of IPA, along with Zach Levine and Cody Hershey of Marcus & Millichap, represented the seller, Keystone

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Disston Plaza
AcquisitionsFloridaRetailSoutheast

Joint Venture Acquires Disston Plaza Shopping Center in St. Petersburg, Florida for $31.4M

by Abby Cox

ST. PETERSBURG, FLA. — A joint venture between AEW Capital Management, Mack Real Estate Group (MREG) and Soundwater Properties (SWP) has acquired Disston Plaza, a 129,150-square-foot shopping center located in St. Petersburg. The sales price was $31.4 million, according to the Tampa Bay Business Journal. This transaction marks the second acquisition for the newly formed joint venture, which targets grocery-anchored retail centers in East Coast markets with purchase prices between $10 million and $50 million. Danny Finkle and Jorge Portela of JLL represented the undisclosed seller in the transaction.  Publix anchors Disston Plaza, which features a mix of additional tenants including Bealls Outlet, Dollar Tree, Pet Supermarket and The UPS Store. Built in 1954, the center sits on roughly 12 acres. 

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139-Franklin-St.-Manhattan
DevelopmentIndustrialMultifamilyNew YorkNortheastSelf-Storage

Joint Venture Buys Manhattan Self-Storage Facility for $43.5M, Plans Multifamily Conversion

by Taylor Williams

NEW YORK CITY — A joint venture between Broad Street Development and TPG Angelo Gordon has purchased a 56,384-square-foot self-storage facility in Manhattan’s Tribeca neighborhood for $43.5 million with plans to undertake a multifamily conversion. The 10-story building at 139 Franklin St. was originally constructed in 1915 and houses 74 units. Brendan Maddigan, Andrew Scandalios, Ethan Stanton, Hall Oster, Michael Mazzara and Vickram Jambu of JLL represented the seller, the Sofia Family, in the transaction and procured the joint venture as the buyer. A construction timeline for the conversion was not announced.

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TA Travel Center
AlabamaDevelopmentLoansRetailSoutheast

Forman Capital Provides $20M Construction Loan for Redevelopment, Completion of Retail Travel Center Near Mobile, Alabama

by Abby Cox

ROBERTSDALE, ALA. — Forman Capital has provided a $20 million construction bridge loan to LV Petroleum, the largest owner and operator of TA Travel Center franchises in the United States, for the redevelopment and completion of a retail travel plaza at 27801 County Road 64 in Robertsdale. Formerly the Oasis Travel Center, the property has already been converted into a TA Travel Center with all facilities operating, except for diesel fuel sales. Situated about 27 miles east of Mobile, the 51-acre site features 26,797 square feet of retail space, including Subway and Sbarro restaurants, eight gas pumps, five diesel pumps, four diesel emission fluid pumps and parking for 100 vehicles and 220 semi-trucks. Brett Forman, Ben Jacobson, Scott Mehlman, Ty Regnier and Cam Fleury of Forman Capital internally represented the firm in the transaction. LV Petroleum operates more than 40 convenience stores and travel centers throughout the country.   

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Carmel Church Business Center
IndustrialLeasing ActivitySoutheastVirginia

Lingerfelt, Davis Sign M.C. Dean to 152,491 SF Industrial Lease Near Richmond

by Abby Cox

RUTHER GLEN, VA. — Lingerfelt and The Davis Cos. have signed a 152,491-square-foot lease with design-build and systems integration firm M.C. Dean at Carmel Church Business Center in Ruther Glen, roughly 30 miles north of Richmond. The new lease will allow M.C. Dean to expand its production capacity, shifting more space away from onsite storage to meet the growing demand for its mission-critical products. Modular Mission Critical, M.C. Dean’s 585-acre manufacturing campus one mile northeast of Carmel Church Business Center, will serve as the hub for customizable, tested and secure modular products. Jake Servinsky and Jimmy Appich of JLL represented M.C. Dean. Graham Stoneburner and Mark Douglas of Cushman & Wakefield | Thalhimer represented ownership in the lease negotiations. Caramel Church Business Center, a 325,500-square-foot warehouse, was completed in 2024 through a joint venture between Lingerfelt and Boston-based Davis. ARCO Design/Build developed the facility.

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DevelopmentIndustrialLoansNew JerseyNortheast

Bank Hapoalim Provides $33M Construction Loan for Central New Jersey Industrial Project

by Taylor Williams

NEW BRUNSWICK, N.J. — Israel’s Bank Hapoalim has provided a $33 million construction loan for Joyce Kilmer Logistics Center, a 195,421-square-foot industrial project that will be located in the Central New Jersey community of New Brunswick. The site is proximate to Exit 9 off the New Jersey Turnpike, and the facility will have two buildings that will feature a clear height of 36 feet and 32 loading docks. Brad Domenico, Frank Stanislaski and Jack Subers of Cushman & Wakefield arranged the loan on behalf of the borrower, a partnership between two New Jersey-based firms, Faropoint and Deugen Development.

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5416 Wyoming Ave.
AcquisitionsIndustrialNorth CarolinaSoutheast

APG Buys 80,000 SF Infill Distribution Building in Charlotte

by Abby Cox

CHARLOTTE, N.C. — Atlanta Property Group (APG) has purchased 5416 Wyoming Ave., an 80,000-square-foot infill distribution building in Charlotte. Situated in the Westinghouse industrial submarket, the facility was originally constructed in 1998 and features 18 to 21-foot clear heights, a 150-foot truck court, dock-high doors, full-building HVAC and heavy power. The facility was fully leased at the time of sale and marks APG’s second industrial acquisition in Charlotte. APG plans to invest $150 million of committed funds into existing distribution properties in the Atlanta, Charlotte, Greenville, Savannah, Nashville, Raleigh and Central Florida markets by the end of 2025.

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DevelopmentHealthcareNew JerseyNortheast

Hackensack Meridian Opens 90,000 SF Healthcare Facility in Clifton, New Jersey

by Taylor Williams

CLIFTON, N.J. — Regional healthcare provider Hackensack Meridian has opened a four-story, 90,000-square-foot facility in the Northern New Jersey community of Clifton. Designed by Gensler, Hackensack Meridian Health & Wellness Center at Clifton is located on Prism Capital Partner’s ON3 campus, which is a redevelopment of the former Hoffmann-La Roche North American headquarters campus. Specialty practices offered at the facility include primary care, urgent care, rheumatology, gastroenterology, nephrology and orthopedics.

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Leasing ActivityNew YorkNortheastOffice

Clear Street Signs 88,000 SF Office Lease Expansion in Lower Manhattan

by Taylor Williams

NEW YORK CITY — Clear Street has signed an 88,000-square-foot office lease expansion at 4 World Trade Center in Lower Manhattan. The fintech company first took space at the 72-story, 2.3 million-square-foot building in 2021 via sublease before signing a direct lease for the entire 45th floor in 2023. This deal, which includes a 10-year extension, will see the company maintain that space and also expand to the entire 46th floor. Josh Berger of Norman Bobrow & Co. represented Clear Street in the lease negotiations. Keith Cody and Gordon Hough represented the landlord, Silverstein Properties, on an internal basis.

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4909-W-Joshua-Rd-Chandler-AZ
AcquisitionsArizonaMultifamilyWestern

Colliers Arranges $109.5M Sale of Country Brook Apartments in Chandler, Arizona

by Amy Works

CHANDLER, ARIZ. — Colliers has arranged the $109.5 million sale of Country Brook Apartments, a multifamily property in Chandler. Cindy Cooke, Brad Cooke, Chris Roach and Matt Roach of Colliers handled the sales transaction for the undisclosed seller and undisclosed buyer. Luke Donahue and Patrick O’Donnell of Colliers Mortgage coordinated acquisition financing. Located at 4909 W. Joshua Blvd., Country Brook Apartments offers 396 units, averaging 963 square feet, spread across 32 one- and two-story buildings. Community amenities include three resort-style pools, two spas, poolside ramadas, an alfresco kitchen with outdoor TVs, a 24-hour fitness center, 24/7 access package locker and covered parking.

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