WALDORF, MD. — Marcus & Millichap has negotiated the $6.3 million sale of JSB Apartments, a 48-unit multifamily community located in Waldorf, a Maryland city near Washington, D.C. Marty Zupancic and Ryan Murray of Marcus & Millichap represented the seller, RGB Holding, in the transaction. JSB Apartments features one-bedroom units and is adjacent to the 150-acre Waldorf Station development, which will include a grocery store, fitness facility and retail space.
ROSWELL, GA. — Cushman & Wakefield has arranged a 55,869-square-foot lease renewal at Mansell Overlook, an office park located in Roswell, roughly 25 miles north of downtown Atlanta. Annie Gomez and Jon Mayeske of Cushman & Wakefield represented the tenant, SiteOne Landscape Supply Inc., in the lease negotiations. An entity doing business as Sun Belt Office I LLC is the landlord of Mansell Overlook, which comprises four buildings of Class A office space and is situated on 67 acres. Amenities at the property include outdoor seating, walking paths, a fitness center and a conference center.
DETROIT — Detroit-based Henry Ford Health and Ascension Michigan have unveiled plans to close their proposed joint venture on Sept. 30 and launch their newly combined organization on Oct. 1. The joint venture will bring Ascension’s southeast Michigan and Genesys healthcare facilities under the Henry Ford brand. The properties include eight hospitals and an addiction treatment center, according to Crain’s Detroit Business. Carol Schmidt, senior vice president of Ascension and CEO of Ascension Michigan, will support the first phase of transition and integration, partnering with Henry Ford Health President and CEO Bob Riney. The combined organization would employ approximately 50,000 team members at more than 550 sites across Michigan. Crain’s reports that Ascension is left with four hospitals in the state, all in the southwest area.
MICHIGAN — Chick-fil-A has unveiled plans to open approximately 25 to 30 new locally owned and operated restaurants across Michigan by the end of 2028. The new restaurants will create over 2,500 jobs across the state. Chick-fil-A first opened in Michigan in 2015, and currently operates 28 locations in the state. In metro Detroit, Chick-fil-A plans to open in Chesterfield Township, Roseville, Taylor and Fort Gratiot this fall or winter. Additional growth includes a licensed location in the First National Building, and locally owned and operated restaurants in Detroit, Auburn Hills, Lincoln Park, Orion Township, Clinton Township, Canton and Ann Arbor. Two restaurants are slated to open in 2025 in Lansing/Jackson, as well as one restaurant in Saginaw and another in Benton Harbor. Chick-fil-A is the third largest quick-service restaurant company in the United States with more than 3,000 restaurants across the U.S., Canada and Puerto Rico.
ELKHORN, NEB. — CBRE has arranged the sale of The Trails, an 85-unit build-to-rent community in the Omaha suburb of Elkhorn. The sales price was undisclosed. Located at 19111 Grand Ave. and completed this year, the property features a range of four- and five-bedroom floor plans averaging 1,814 square feet. Ted Abramson, Mark Seger and Jeremy Fink of CBRE represented the undisclosed seller. Curtis Capital Group was the buyer.
ANDERSON, IND. — Meridian Design Build has completed construction of a 300,000-square-foot climate-controlled seed storage and distribution facility for Corteva Agriscience in Anderson, about 40 miles northeast of Indianapolis. Scannell Properties was the developer. Located at 4210 W. 67th St., the property is Corteva’s largest warehouse and distribution center in North America, according to Meridian. Constructed on 30 acres, the facility features 100,000 square feet of refrigerated and humidity-controlled cold storage space along with an adjacent dry storage area accessible via high-speed rollup doors. The building features 25 loading docks, two drive-in doors, a storm shelter and 4,000 square feet of office space. Curran Architecture was the architect, and American Structurepoint Inc. handled the civil engineering design.
CLINTON TOWNSHIP, MICH. — Marcus & Millichap has brokered the $3.5 million sale of McLaren Macomb-Gratiot Medical Building, a 17,333-square-foot medical office property in the Detroit suburb of Clinton Township. The asset is fully leased to McLaren Macomb, a subsidiary of the McLaren Health Care Corp. The multi-specialty clinic serves as a hub for McLaren’s residency program and is situated near the affiliated 288-bed McLaren Macomb Hospital. Seth Haron, Ashish Vakhariya and Darin Gross of Marcus & Millichap represented the seller, Platform Ventures LLC, and the buyer, Nova Sky Investments LLC.
SEATTLE — The special committee of the Board of Directors of Nordstrom (NYSE: JWN) has confirmed receipt of a proposal from Erik and Pete Nordstrom, members of the Nordstrom family, and El Puerto de Liverpool to acquire all of the outstanding shares of the Nordstrom, other than shares held by members of the Nordstrom family and Liverpool, for $23 per share in cash. If accepted, the deal would take the publicly traded company private. The proposal would be financed through a combination of rollover equity and cash commitment by members of the Nordstrom family and Liverpool and $250 million in new bank financing, with the existing indebtedness of the company to remain outstanding. There is no assurance that the company will pursue this transaction, and Nordstrom does not intend to disclose further developments regarding the proposal until further disclosure is determined to be appropriate or necessary. Morgan Stanley & Co. and Centerview Partners are acting as financial advisors to the special committee, and Sidley Austin LLP and Perkins Coie LLP are acting as legal counsel. Seattle-based Nordstrom’s stock price closed at $22.60 per share on Thursday, Sept. 5, up from $14.90 one year prior.
FONTANA, CALIF. — A joint venture between MCB Real Estate and a fund managed by DRA Advisors has purchased Falcon Ridge Town Center, a retail center at 15218-15320 Summit Ave. in Fontana, located in the Inland Empire region. An undisclosed party sold the asset for $65 million. Built in 2005 and renovated in 2023, Falcon Ridge offers 273,424 square feet of fully leased retail space. Current tenants include Ulta Beauty, Famous Footwear, Five Below, Michaels, Dollar Tree and Ross Dress for Less.
KIRKLAND, WASH. — Ziegler has arranged $62.4 million in bond financing for Parkshore Juanita Bay, a 50-unit independent living community in the Seattle suburb of Kirkland. The borrower was originally founded in 1932 to provide housing and care for German seniors. In 1977, the organization constructed an assisted living retirement home known as The Gardens at Juanita Bay in Kirkland’s historic Juanita Bay neighborhood on the shores of Lake Washington. In December 2018, the community affiliated with Presbyterian Retirement Communities Northwest, now known as Transforming Age. In 2021, management announced plans to develop and convert the existing community into a 50-unit independent living community to be named Parkshore Juanita Bay. The property represents a concept as a satellite community consisting solely of independent living with residents receiving a healthcare benefit through the broader Transforming Age network of communities or another community of their choosing. The Washington State Housing Finance Commission issued the bonds, which will mostly be used to pay for the acquisition, development and construction.
