DEER VALLEY, ARIZ. — A joint venture between Cohen & Steers Income Opportunities REIT (CNSREIT) and Sterling Organization has acquired Deer Valley Towne Center, a 159,000-square-foot, open-air shopping center located in the Deer Valley neighborhood of Phoenix. Target shadow anchors the center, which is situated across from Phoenix General Hospital and PetSmart’s corporate headquarters. The property is more than 94 percent leased to tenants including Five Below, Ross Dress For Less, Dollar Tree, PetSmart, Michaels, Jersey Mike’s Subs, Panda Express, Chipotle, Sola Salon Studios, GNC and Bath & Body Works. This transaction marks CNSREIT’s fourth acquisition with Sterling Organization and the sixth open-air shopping center in its portfolio.
VACAVILLE, CALIF. — The Claremont Cos. has completed the disposition of Self Storage of Vacaville, a self-storage facility in Vacaville, to Westport Properties for an undisclosed price. Dean Trammell and Adam Schlosser of The LeClaire-Schlosser Group of Marcus & Millichap represented the seller and procured the buyer in the transaction. Tony Solomon of Marcus & Millichap served as broker of record. Situated on 5.3 acres, Self Storage of Vacaville was originally constructed in 2018 and expanded in 2019. The facility features electronic gated entry with a digital keypad, a large institutional-style leasing office with retail, security monitor display with 24/7 video surveillance throughout the facility, concrete driveways and metal roll-up doors.
CASTLE ROCK, COLO. — John Propp Commercial Group has arranged the sale of an office and retail building located at 734 Wilcox St. in Castle Rock. Seven34 LLC sold the asset to 2950 West Point Holdings LLC for $2.5 million. The two-story property offers 8,969 square feet of office and retail space, as well as parking. John Propp of John Propp Commercial Group represented the seller, while Andrew Monette of Pinnacle Real Estate represented the buyer. The buyer plans to operate the property as an investment.
CHICAGO — Developer Vista Property and general contractor Skender have broken ground on a 32-story apartment tower at 370 N. Morgan St. in Chicago’s Fulton Market neighborhood. Designed by Antunovich Associates, the 539,000-square-foot property will feature 494 units, including 99 affordable housing units. Floor plans will range from studios to two bedrooms. A residential lobby, leasing offices and 4,500 square feet of retail space will make up the ground floor. A parking podium with 192 spaces, 20 percent of which will have electric vehicle charging capabilities, will extend from floors two to four. The exterior aesthetic is inspired by a modern Mies van der Rohe design. Outdoor amenities will include a 30th-floor pool deck, yoga terrace, fire pits and outdoor grill kitchens. Inside, residents will have access to a fitness center, coworking areas, a lounge, private event and dining rooms, a golf simulator and various common areas. A new landscaped plaza will front the intersection of Kinzie and Morgan streets. In late 2024, demolition on the site began with the removal of the old single-story Fox Deluxe Foods building. The apartment tower is slated for completion in the second quarter of 2027. The project team includes DeSimone as the structural …
GLENVIEW, ILL. — Bottling Group LLC, operating as Pepsi Beverages Co., a division of PepsiCo. Inc., has leased Building 10 at The Logistics Campus in suburban Chicago’s Glenview. The lease for the 351,520-square-foot build-to-suit facility commences in February. Dermody is the property owner. Bottling Group LLC manufactures, distributes and sells a portfolio of nonalcoholic beverages, including soft drinks, bottled water, energy drinks and fruit juices. Site work for Building 10 is underway with delivery planned for the first quarter of 2026. Colliers represented Dermody, and Cresa represented Pepsi in the lease. The Logistics Campus is a master-planned, 10-building campus totaling 3.2 million square feet. Dermody recently completed construction on Phase 1, which consists of more than 1.2 million square feet across five buildings.
ROCHESTER, MINN. — Mid-America Real Estate Corp. has brokered the sale of Broadway Commons, a 136,757-square-foot shopping center in Rochester near the Mayo Clinic. The property is fully leased to Total Wine & More, DSW, Petco, Five Below, Michaels, Famous Footwear and Boot Barn. Kohl’s and Walmart are shadow anchors. Joe Girardi, Emily Gadomski, Amy Senn and Bryce Thompson of Mid-America represented the seller, Epic Real Estate Partners. The buyer and sales price were not provided.
KANSAS CITY, MO. — Bow River Capital, a Denver-based alternative asset management firm, has acquired Brookside Commons in Kansas City. Located near the Country Club Plaza, the 212-unit multifamily community was built in 2023. The transaction, which marks Bow Capital’s third multifamily acquisition in the Kansas City market, was completed at more than a 24 percent discount on today’s replacement cost. Berkadia originated acquisition financing through Fannie Mae. The seller and sales price were not provided.
CHICAGO — The Boulder Group has arranged the $3.3 million sale of a single-tenant, net-leased Chick-fil-A property at 11301 S. Corliss Ave. in Chicago. The newly constructed building, which features a drive-thru, is operating under a 15-year ground lease with 10 percent rental escalations every five years and eight five-year renewal options. The property is positioned directly west of I-94 and at the southeast corner of the newly revitalized Pullman Park development. Randy Blankstein and Jimmy Goodman of Boulder Group represented the seller, a real estate developer in Chicago. The buyer was a local private investor. Today, there are nearly 3,000 Chick-fil-A locations across 48 states, Canada and Puerto Rico.
COLUMBIA, S.C. — Core Spaces is set to break ground on ōLiv Columbia, a 2,350-bed mixed-use development located at 1401 Main St. near the University of South Carolina campus in Columbia. The project will include two towers: one 27-story building offering market-rate apartments and a 22-story student housing tower. The property will also feature a 1,600-space parking garage and retail space on the ground level. Construction is expected to begin this fall with completion scheduled for summer 2028. The development team includes Juneau Construction Co. and Dwell Design Studios.
WINTER GARDEN, FLA. — CBRE has brokered the sale of Winter Garden Village, a 629,326-square-foot shopping center located at 3251 Daniels Road in Winter Garden, a western suburb of Orlando. Dennis Carson, Casey Rosen, Michael Etemad and Sriram Rajan of CBRE represented the seller, Beachwood, Ohio-based SITE Centers Corp., in the transaction. The buyer and sales price were not disclosed, but Orlando Business Journal reports that an affiliate of New York City-based RREEF Property Trust purchased the center for $165 million. Curbline Properties Corp., an affiliate of SITE Centers, retained 130,563 square feet of single- and multi-tenant outparcels at Winter Garden Village. The power retail center was 89 percent leased at the time of sale to tenants including Bealls, Best Buy, Burlington, Marshalls/Homegoods, Ross Dress for Less and Ulta Beauty.