MADISON, N.J. — Locally based intermediary G.S. Wilcox & Co. has arranged a $5.4 million loan for the refinancing of a 28,645-square-foot retail property in the Northern New Jersey community of Madison. The property is fully leased to an undisclosed national grocer. Bridget Wilcox and Al Raymond of G.S. Wilcox arranged the loan, which carried a 15-year term and a 30-year amortization schedule, through an undisclosed life insurance company.
SOUTH BEND, IND. — Toll Brothers Campus Living has completed The 87, an 810-bed student housing community located near the University of Notre Dame campus in South Bend. Centier Bank provided $91 million in construction financing for the project, which broke ground in September 2022. The community also serves students attending Holy Cross College and St. Mary’s College. The development offers 335 fully furnished units with bed-to-bath parity in studio through four-bedroom configurations, alongside townhomes. Shared amenities include study lounges with private seating options; a social lounge and coffee bar; content creation studio; golf and sports simulator; fitness center; lounge with four large-screen televisions; and multiple courtyards with grills, fire pits, yard games and hammocks. KTGY designed the property.
PLYMOUTH, MINN. — Davis has acquired WestHealth, a three-building outpatient medical center totaling nearly 201,000 square feet in Plymouth, a western suburb of Minneapolis. The purchase price was $72 million. The campus comprises two outpatient medical buildings, an ambulatory surgical center and an emergency/urgent care facility. The buildings were 96 percent occupied at the time of sale. The anchor tenant is Allina Health, which occupies roughly 73 percent or 146,000 square feet within the property. Originally purpose-built by Allina Health and acquired by the current ownership in 2013 through a long-term ground lease, the asset has undergone expansions to meet the increasing demand for outpatient services. Eric Gundersen of Alerus Financial and Healthpeak arranged acquisition financing. Brian Bruggeman of Colliers represented Allina Health. Chris Bodnar, Brannan Knott, Zack Holderman, Cole Reethof, Trent Jemmett, Jesse Greshin and Ryan Watts of CBRE partnered with Steve Brown of Forte Real Estate Partners as the seller’s advisors.
CROWN POINT, IND. — Saxum Real Estate has begun development of a 322,600-square-foot cold storage project for Arcadia Cold in Crown Point, a city in northwest Indiana. FCL Builders is the general contractor. The project will feature a clear height of 50 feet, ample dock space and dock doors to expedite distribution and container handling services, and convertible rooms with temperature capabilities between minus 10 and 38 degrees Fahrenheit. Completion is slated for the second quarter of 2026. Arcadia Cold specializes in providing third-party handling, storage, distribution and value-add services to the food industry and is the seventh-largest cold storage operator in the U.S., according to a release.
DICKINSON, N.D. — Bernard Financial Group (BFG) has arranged an $11.5 million Freddie Mac loan for the refinancing of West River at Dickinson, a 234-unit multifamily property in Dickinson. Joshua Bernard and Adam Ferguson of BFG arranged the loan on behalf of the borrower, West River Owner LLC. Built in 2011, the property at 2540 4th St. W features one-, two- and three-bedroom units ranging from 778 to 1,179 square feet.
FARMINGTON HILLS, MICH. — Farbman Group has opened its new 40,000-square-foot shared headquarters for the broader Farbman family-owned enterprises at 31700 Middlebelt Road in Farmington Hills. The move re-unifies Farbman with its family-owned enterprises for the first time in nearly 10 years. The enterprises include Farbman Group, NAI Farbman, Huntington Construction, Apex Mechanical Solutions, Huntington Maintenance, Campusville, Carbon TV and Healthrise. Farbman purchased the Yamasaki-designed building.
PHOENIX — CBRE has facilitated the sale-leaseback of the MarLam Industries Manufacturing portfolio in Phoenix. A joint venture led by Wentworth Property Co. acquired the asset from MarLam Industries for $17.5 million. Located at 2425 S. 10th St. and 834 E. Hammond Lane, the two adjacent buildings offer a total of 106,174 square feet. The 48,504-square-foot building on South 10th Street features 5,403 square feet of office space, 22-foot clear heights and 11 grade-level doors. The 47,438-square-foot facility on East Hammond Lane offers 20-foot clear heights, 11 grade-level doors and a 4,829-square-foot mezzanine office level. MarLam Industries, a manufacturer of laminate and cultured marble tops and tubs and fabricator of Corian and granite kitchen and bath countertops, leased back the portfolio as part of the transaction. Geoffrey Turbow, Anthony DeLorenzo and Matt Pourcho of CBRE represented the seller in the deal.
EL MONTE, CALIF. — PSRS has secured $10.8 million in refinancing for an owner-user Nissan dealership in El Monte. The 65,000-square-foot property consists of three buildings across individual parcels, housing a showroom, parts and service departments and corporate offices. Grady Seldin and Thomas Rudinsky of PSRS arranged the financing for the undisclosed borrower.
DENVER — CenterSquare has purchased Shops at Highpointe, an essential service retail (ESR) shopping center in Denver. Terms of the transaction and the name of the seller were not released. Located at the northeast corner of Grant Street and 97th Avenue, Shops at Highpointe offers 18,938 square feet of retail space that was 88 percent occupied at the time of sale. T-Mobile, Dickey’s BBQ and Red Wing Shoes, along with several long-term local tenants, occupy the property, which was built in 2008.
SAN DIEGO — Breakthrough Properties, a joint venture between Tishman Speyer and Bellco Capital, has completed the development of Torrey View, a 520,000-square-foot life sciences campus located in the Del Mar Heights neighborhood of San Diego. The 10-acre property was fully preleased and is home to the oncology division of biopharmaceutical company Pfizer, which occupies 230,000 square feet across two buildings; and the innovation center for the biosciences division of BD, a global medical technology company, which occupies a 220,000-square-foot-building. Additional tenants include Charles River Laboratories, Actio Biosciences and Architect Therapeutics. Torrey View offers expansive ocean views and a full suite of amenities, including a client clubhouse, multiple dining options, a fitness center and pickleball court, 400-person conference facility, bike and surfboard storage and a partially below-grade parking garage covered by open green spaces and gardens. The joint venture acquired the development site for the campus, which has achieved LEED Gold certification, in October 2020. Equity partners in the project included Mitsui Fudosan America, Investment Management Corp. of Ontario and AP2. The development team included life sciences architectural firm Flad Architects and general contractor Clark Construction, and leasing for the project was handled by JLL. Formed in 2019, Breakthrough Properties …