Monday, June 30, 2025
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180-Flats-Redwood-City-CA
AcquisitionsCaliforniaMultifamilyWestern

Levin Johnston Negotiates Two Multifamily Sales in California Totaling $32.1M

by Amy Works

REDWOOD CITY, CALIF. — Levin Johnston of Marcus and Millichap has negotiated the sales of two multifamily assets located in Redwood City. The combined sales price was $32.1 million. Adam Levin and Robert Johnston of Levin Johnston handled the transactions. In the first deal, a private equity investment firm sold 180 Flats, a 48-unit apartment community in Redwood City, for $21.7 million. Built in 1964, the property features studio, one- and two-bedroom apartments with open floor plans, walk-in closets, private balconies and state-of-the-art appliances. Community amenities include two open community courtyards with barbecue areas and a new dog park. Levin Johnston represented the seller in the deal. In the second transaction, Levin Johnston arranged the $10.4 million acquisition of a 23-unit apartment community located at 3520-3540 Farm Hill Blvd. in Redwood City. Built in 1959, the property is in close proximity to local schools, dining, shopping and entertainment.

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71-at-the-Park-Lake-Forest-CA
AcquisitionsCaliforniaOfficeWestern

Harbor Associates Sells 37,090 SF Office Property in Southern California for $11.7M

by Amy Works

LAKE FOREST, CALIF. — Harbor Associates has completed the sale of 71 at the Park, an office building located at 25371 Commercentre Drive in Lake Forest. An unidentified overseas buyer acquired the property for $11.7 million. The 37,090-square-foot property features abundant natural light, on-site amenities, a two-story lobby, exposed ceilings, flexible floor space and outdoor community areas. Anthony DeLorenzo, Gary Stache, Doug Mack, Jeff Carr and Brian Cole of CBRE represented the seller in the deal.

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AcquisitionsFloridaMixed-UseSoutheast

DIX Sells 53-Acre Mixed-Use Development Site in Ormond Beach, Florida

by Amy Works

ORMOND BEACH, FLA. — Lake Mary, Fla.-based DIX Developments has completed the sale of Halifax Town Center, a mixed-use development site located in Ormond Beach. Dixie 95 OBD, a company related to O2G Capital of Ontario, Canada, purchased the 53-acre site for an undisclosed price. Situated in the southeast quadrant of Interstate 95 and Old Dixie Highway, the fully developed site is ready for immediate construction with storm water retention, surfaced roadways and utilities. Halifax Town Center is part of the golf course community Halifax Plantation. The planned mixed-use development in Volusia County has gone through a transition in ownership in the past few years. John Kurtz of Stirling International Real Estate represented the seller in the deal.

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AcquisitionsNevadaOfficeWestern

Marcus & Millichap Brokers $1M Sale of Office Building in Las Vegas

by Amy Works

LAS VEGAS — Marcus & Millichap has arranged the sale of a professional office building in Las Vegas, located at 7866 W. Sahara Ave. within Coronado Bay Business Park. A local investor sold the property to a Nevada law firm for $1 million. The buyer plans to occupy the 4,850-square-foot building. Ryan McCullough and Tina Taylor of Marcus & Millichap represented the seller in the transaction.

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Confluent-Colorado-Springs-CO
ColoradoDevelopmentRetailWestern

Confluent Development Nears Completion of Multi-Tenant Retail Center in Colorado Springs

by Amy Works

COLORADO SPRINGS, COLO. — Confluent Development is nearing completion of an 8,265-square-foot, multi-tenant retail center in Colorado Springs. The property will be home to a 3,800-square-foot Snooze: an A.M. Eatery restaurant and a 1,491-square-foot Bishops Cuts/Color barbershop. Both locations are set to open in early 2019. The project is designed to also house a third future retailer in the remaining 3,000 square feet of space. Studio DH Architecture served as the architect on the project and Epic Construction as the general contractor.

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DevelopmentIndustrialMidwestNebraska

R&R Realty Completes Development of 250,000 SF Warehouse in Omaha

by Kristin Harlow

OMAHA, NEB. — R&R Realty Group has completed development of a 250,000-square-foot speculative warehouse in Omaha. Warehouse 1, located at the intersection of Gold Coast Road and Highway 50, is the first warehouse to be completed within R&R Commerce Park. Three more buildings are planned within the park for a total of more than 1 million square feet. Each of the buildings will feature a clear height of 32 feet. R&R will own, manage and complete lease-up of the development. Leuder Construction served as the contractor on the project.

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IndianaIndustrialLoansMidwest

Subsidiary of Olympus Ventures Receives $13M Loan for Refinancing of Indiana Distribution Center

by Kristin Harlow

CHARLESTOWN, IND. — 1250 Patrol Road LLC, a subsidiary of Olympus Ventures, has received a $13 million loan for the refinancing of a 314,400-square-foot distribution center in Charlestown near Louisville. J. Knipper & Co. Inc., a pharmaceutical supplier, fully occupies the building as its Midwest distribution center. Doug Seylar of CBRE arranged the 10-year loan, which features a fixed interest rate and a 30-year amortization schedule. The lender was not disclosed.

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AcquisitionsIllinoisIndustrialMidwest

Jameson Brokers $5.4M Sale of Industrial Building in Chicago’s West Loop

by Kristin Harlow

CHICAGO — Jameson Commercial has brokered the sale of a 35,000-square-foot industrial building in Chicago’s West Loop for $5.4 million. The buyer, LG Development Group, plans to demolish the building and replace it with a 10-story, 166-unit apartment building. Jameson represented the seller, Fred Baker Trust. The property, located at 1214-1230 W. Jackson Blvd., was formerly home to FredEric’s Frame Studio.

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IllinoisLeasing ActivityMidwestRetail

Three Retailers Join Tenant Lineup at Luxury Apartment Tower in Chicago’s Streeterville

by Kristin Harlow

CHICAGO — Three new retailers have joined the tenant lineup at Optima Signature, a 57-story luxury apartment tower in Chicago’s Streeterville neighborhood. GoodVets Streeterville, a full-service veterinarian, has opened its 2,000-square-foot office. RUNAWAY, a run conditioning fitness studio, will occupy 4,200 square feet starting in November. Guidepost Montessori, a California-based school serving toddlers and preschoolers, is scheduled to open an 11,500-square-foot school later this year. Located at 220 E. Illinois St., Optima Signature features 490 apartment units and 58,000 square feet of retail and commercial space. Developer Optima Inc. completed the LEED Silver-certified property in 2017. Monthly rents start at $2,265.

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