Thursday, November 6, 2025
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AcquisitionsMultifamilyNew YorkNortheast

Rosewood Realty Brokers $48M Sale of Apartment Community in Washington Heights

by David Cohen

NEW YORK CITY — Rosewood Realty Group has brokered the $48 million sale of an apartment community in the Washington Heights neighborhood of Manhattan. Located at 80 and 86 Fort Washington Ave., the two building community totals 138,228 square feet. The building at 80 Fort Washington Ave. was built in 1920 and 86 Fort Washington Ave. was built in 1930. Aaron Jungreis of Rosewood represented the buyer, RCR Management. David Berger of Rosewood represented the seller, a group of investors including Mike Spira and the estate of Josh Sternhell.

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DevelopmentHealthcareNortheastPennsylvania

IMC Construction Breaks Ground on Medical Center Near Philadelphia

by David Cohen

RADNOR, PA. — IMC Construction has broken ground on Penn Medicine Radnor, a four-story, 250,000-square-foot medical center in Radnor. Located at 145 King of Prussia Road, the center will house a heart and vascular center, cancer care, women’s health, orthopedic and rehabilitation medicine, neurosciences and other medical subspecialties. An outpatient surgery suite will include six surgical and four endoscopy rooms, along with radiology and laboratory services. Brandywine Realty Trust will purchase and serve as the designated developer and manager of the site, and develop an adjacent office space and a hotel on property. The outpatient center is expected to be complete in Spring 2020.

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AcquisitionsMultifamilyNew YorkNortheast

Marcus & Millichap Negotiates $6.7M Sale of Multifamily Building in New Jersey

by David Cohen

PATERSON, N.J. — Marcus & Millichap has negotiated the $6.7 million sale of Park Ave Apartments, a multifamily building in Paterson. The property is located at 61 Park Ave. Daniel Aviles and Greg Babaian of Marcus & Millichap’s New Jersey office represented the seller, a developer, in the transaction. The buyer was a limited liability company.

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AcquisitionsCompany NewsHospitalityNortheastPennsylvania

Ballard Brands Expands Restaurant Offerings to Philadelphia with Acquisition

by David Cohen

PHILADELPHIA— Ballard Brands, a Covington, Louisiana-based restaurant and hospitality group whose brands include PJ’s Coffee of New Orleans, WOW Café and New Orleans Roast Coffee & Tea, has expanded its restaurant holdings to include several Latin American concepts in Philadelphia. Brothers Paul, Steven and Scott Ballard of Ballard Brands recently purchased Philadelphia-based Garces Group — which filed for Chapter 11 bankruptcy earlier this year — resulting in the inception of IdEATtion Hospitality. The brothers purchased Garces in partnership with Mississippi native Ronnie Artigues and Philadelphia investor David Maser. Garces restaurants and catering companies were founded by Chef Jose Garces, an Iron Chef and James Beard Award winner. IdEATion Hospitality now leverages the resources of two established brands, Garces and Ballard Brands. As part of the acquisition, the Ballards and their investment partners acquired several popular and award-winning Garces Philadelphia restaurants: Amada, Tinto, Village Whiskey, The Olde Bar, JG Domestic, Volvér and their full-service catering division, Garces Events. Chef Garces remains in a leadership position as chief culinary officer. Artigues will serve as CEO of the Philadelphia-based operations. “Chef Jose is a culinary expert who brings a renowned reputation and vision to our team and we’re thrilled for the new partnership,” …

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3405-S-Timberline-Rd-Fort-Collins-CO
ColoradoDevelopmentOfficeWestern

Neenan Co. Begins Construction of 102,000 SF Madwire Headquarters in Fort Collins, Colorado

by Amy Works

FORT COLLINS, COLO. — The Neenan Co. has started constructed of the new headquarters for Madwire in Fort Collins. Owned by 2001 Danfield LLC, a Northern Colorado investor group that includes Curt Burgener, Brian Stahl, Dave Derbes and Troy Peterson, the 102,000-square-foot is being developed by Peakstone Development. Located at 3405 S. Timberline Road, the redeveloped property will activate a building that has been vacant for two years. The digital marketing software company will expand into the remodeled 102,000-square-foot building, which will accommodate 700 employees. Madwire currently occupies 70,000 square feet in a multi-tenant office building. The project will revitalize the vacant facility, which was built in 1980. The remodeled building will feature breakout spaces, an auditorium, a large gym with multiple sport offerings, and an outdoor patio and deck. Completion is slated for May 2019.

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Affordable HousingLoansMultifamilyOregonWestern

KeyBank Arranges $26.6M Loan for Affordable Housing Development in Tigard, Oregon

by Amy Works

TIGARD, ORE. — KeyBank Real Estate Capital has arranged $26.6 million Fannie Mae loan for the construction of The Fields Apartments, an affordable multifamily property in Tigard. The planned Low-Income Housing Tax Credits (LIHTC) property will consist of five four-story buildings offering a total of 264 affordable units, as well as a separate common area building. Fred Dockweiler of Key’s Commercial Mortgage Group arranged the fixed-rate loan for 2.5 years, with two six-month extension options.

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Pointe-Monterey-Business-Park-Palm-Desert-CA
AcquisitionsCaliforniaIndustrialWestern

Marcus & Millichap Brokers $10.2M Acquisition of Industrial Property in Palm Desert, California

by Amy Works

PALM DESERT, CALIF. — Marcus & Millichap has arranged the sale of Pointe Monterey Business Park, an industrial property at 34450 Gateway Drive in Palm Desert. Renken Consulting Group acquired the asset from Fullmer Construction for $10.2 million. Built in 2008, Monterey Business Park is a 113,945-square-foot, multi-tenant industrial property. At the time of sale, the property was 100 percent occupied by 10 tenants. Kevin Struve of Marcus & Millichap represented the buyer in the sale.

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Mission-Lake-Center-Riverside-CA
CaliforniaOfficeWestern

Stillwater Investment Group, Greenlaw Partners Sell Office Complex in California for $10.1M

by Amy Works

RIVERSIDE, CALIF. — A joint venture between Stillwater Investment Group and Greenlaw Partners has completed the sale of Mission Lake Center, a multi-tenant office complex located in Riverside. A private high-net-worth buyer acquired the property for $10.1 million. Gary Stache, Anthony DeLorenzo, Doug Mack and Sammy Cemo of CBRE represented the seller. Located at 3600 Lime St., Mission Lake Center features seven two-story, Class A office buildings totaling 74,646 square feet. The property underwent a $900,000 renovation and includes a water feature surrounded by landscaping, common area, and an on-site restaurant.

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302-N-Townsend-Santa-Ana-CA
AcquisitionsCaliforniaIndustrialWestern

SVN Vanguard Negotiates $5.2M Industrial Sale in Santa Ana, California

by Amy Works

SANTA ANA, CALIF. — SVN Vanguard has arranged the sale of an industrial building, located at 302 N. Townsend in Santa Ana. An undisclosed seller sold the property to a local owner-user for $5.2 million. The 39,089-square-foot property features 20-foot clearance, a warehouse ventilation and a drive-through capacity. Fernando Crisantos of SVN Vanguard represented the buyer and seller in the off-market deal.

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DevelopmentIndianaIndustrialMidwest

Cabot Properties Purchases Land Site Near Indianapolis for Development of 440,000 SF Industrial Building

by Kristin Harlow

MOUNT COMFORT, IND. — Cabot Properties has purchased a 27.9-acre land site in Mount Comfort near Indianapolis with plans to develop a 440,000-square-foot industrial building. Known as Velocity 70 Trade Center Building 4, the building will be developed on a speculative basis and feature a clear height of 36 feet, LED lighting, 205 car parking spaces, 56 trailer spaces and 32 dock positions. Alex Cantu of Colliers International brokered the sale of the land site. Jason Speckman and Brian Zurawski of Colliers will market the facility for lease on behalf of Cabot. Browning Construction has been hired to construct the building, with delivery slated for spring 2019. Velocity 70 is a logistics park with immediate access to I-70. The first three buildings house tenants such as Smithfield Foods Inc., Spectra Premium Corp. and Atkins Nutritionals.

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