ST. LOUIS — CBRE has negotiated 15 leases totaling nearly 105,000 square feet at Peabody Plaza, a 400,000-square-foot office tower in St. Louis. Rick Messey and Whitney Allen of CBRE represented ownership, New York-based Briar Meads Capital. The leases were completed within the last 18 months. The tenants include Goldstein and Price LC, Citizens for Modern Transit, Sandberg Phoenix and Von Gontard PC, Gray Ritter Graham, Hinshaw Culbertson LLC, SWMW, Consolidated Grain and Barge, Nahon, Saharovich & Troptz, Mueller Counts LLP, Fernandez Law, Brian Stokes PC and Law Offices O’Driscoll LLC, Vinciguerra Jewelers, UKraft, Keefe and Griffiths PC and Simon Law Group PC. Occupancy at the building has risen from 70 percent in 2020 to over 85 percent in 2024. Located at 701 Market St., Peabody Plaza features a top-floor conference center, 7,000-square-foot fitness center, onsite restaurant, underground parking, 24-hour security and onsite management.
Property Type
VIRGINIA, MINN. — Kraus-Anderson Duluth has completed construction of North Star Elementary, a $28.5 million school located at 411 S. 5th Ave. in Virginia, a city in northeast Minnesota. The school is part of Rock Ridge Public School’s massive building project following the consolidation of the Eveleth-Gilbert and Virginia school districts. BNDRY Studio designed North Star Elementary, which will serve 600 students annually. Situated on a large city block that formerly housed the district’s elementary and high school, North Star Elementary rises three stories, which minimizes its building footprint and reclaims greenspace. The 79,000-square-foot school serves grades 3-6 and features a variety of collaborative learning spaces and open concept classrooms along with an open-air learning patio on the second floor. Construction began in spring 2022.
CHICAGO — Greenstone Partners has brokered the $7.1 million sale of a 24-unit apartment building in Chicago’s Lincoln Square neighborhood. The property, located at 2247-49 W. Lawrence Ave., also features 1,950 square feet of ground-floor live-work space along with a rooftop deck. Jordan Multack of Greenstone represented the buyer, Breneman Capital, and the undisclosed seller.
JANESVILLE, WIS. — Marcus & Millichap has arranged the $2.4 million sale of a newly constructed retail property occupied by Sherwin-Williams in Janesville, a city in southern Wisconsin. Constructed this year, the building is located at 3301 Deerfield Drive and serves as an outparcel to Pine Tree Plaza, a 184,834-square-foot shopping center. Dominic Sulo of Marcus & Millichap represented the buyer and seller, neither of which were disclosed. Todd Lindblom, broker of record in Wisconsin, assisted in closing the transaction.
HOPKINS, MINN. — StarCycle, a cycling studio, has signed a lease to open at the new Hallon development in Hopkins, a southwest suburb of Minneapolis. The property is located at 8594 Excelsior Blvd. Mary Lindell of Christianson & Co. Commercial Real Estate Services represented the tenant. Jackie Taylor is bringing the StarCycle franchise from Oregon to Minnesota.
Atlantic Capital Partners Negotiates $95M Sale of The Plant Shopping Center in San Jose
by Amy Works
SAN JOSE, CALIF. — Atlanta Capital Partners has brokered the sale of The Plant, a regional power center in San Jose. Milan Capital Management, along with Arc Capital Partners, acquired the asset from an undisclosed seller for $95 million. Target, The Home Depot, Best Buy, PetSmart, Ross Dress of Less and Ulta Beauty are tenants at the 367,000-square-foot retail property, which was 65 percent occupied at the time of sale. Justin Smith, Chris Peterson, Sam Koonce and Danielle Donovan of Atlantic Capital Partners represented the seller and secured the buyer in the deal. Will Bryson of Atlantic Capital Partners was handling leasing of the property for the seller. Stephen Joseph, also of Atlantic Capital Partners, arranged a $71.2 million bridge loan on behalf of the buyers to facilitate the acquisition. The loan was placed with Bayview Asset Management.
MainStreet Property Group Receives $32.3M Refinancing for Porch + Park Apartment Community in Redmond, Washington
by Amy Works
REDMOND, WASH. — MainStreet Property Group has obtained a $32.6 million refinancing loan for Porch + Park, a multifamily property at 16050 Cleveland St. in downtown Redmond, a suburb east of Seattle. Seth Heikkila and Steve Petrie of JLL Capital Markets arranged the floating-rate loan through First Citizens Bank. Completed in 2022, Porch + Park features 106 studio, one-, two- and three-bedroom apartments and 9,178 square feet of ground-floor retail space. Apartments offer floor-to-ceiling windows, eco-friendly shower heads, work-from-home nooks, stainless steel appliances and luxury finishes. Community amenities include a rooftop deck and a 20-hour gym with Tempo Mirror, row machines, yoga spaces and a boxing area.
Max Benjamin Partners Arranges $16.5M Construction Loan for Multifamily Project in San Diego
by Amy Works
SAN DIEGO — Max Benjamin Partners has secured a $16.5 million loan for the construction of 10th & Robinson, a multifamily community in San Diego’s Hillcrest neighborhood. Jason Moyal and Max B. Mellman of Max Benjamin Partners arranged the loan for the undisclosed investor. The development will offer 70 apartments and, along with its sister building, will feature a pool, co-working space, gym and high-end finishes.
Trevey Commercial Real Estate Brokers Sale of 27-Acre Mixed-Use Project Site in Parker, Colorado
by Amy Works
PARKER, COLO. — Trevey Commercial Real Estate has arranged the sale of a 27-acre development site at 8996 Motsenbocker Road in Parker, approximately 23 miles southeast of downtown Denver. Jeffrey and Diane Roth sold the asset to Perry Lane LLC for $3.5 million. The buyer plans to develop a mixed-use neighborhood on the site with 70 apartments in two- and three-story buildings, a five-acre neighborhood retail center and a 14.5-acre neighborhood park. Mitch Trevey of Trevey Commercial Real Estate represented the seller, while Travis Ackerman of Cushman & Wakefield represented the buyer in the deal.
Greenlaw Partners Sells 18.2-Acre Pecos 17 Industrial Development Site in Mesa, Arizona
by Amy Works
MESA, ARIZ. — Greenlaw Partners has completed the disposition of 18.2 acres of undeveloped land, located at Pecos and Sossaman roads in Mesa, to Cavan Commercial for $6.5 million. Specific plans for the site, commonly known as Pecos 17, have not been announced, but the property is fully entitled for the development of 227,000 square feet of industrial space. Situated within the Pecos Advanced Manufacturing Zone, the site has access to robust infrastructure, affordable power capacity, fiber network, natural gas, and abundant water and wastewater capacity. Additionally, the site is under 30 miles from Phoenix Sky Harbor International Airport and six miles from Phoenix-Mesa Gateway Airport. Will Strong, Michael Matchett, Molly Hunt and Callahan Conway of Cushman & Wakefield’s National Industrial Advisory Group – Mountain West represented the seller in the transaction.