Wednesday, July 16, 2025
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AcquisitionsIllinoisIndustrialMidwestSelf-Storage

SVN Brokers $1.2M Sale of 300-Unit Self-Storage Portfolio in Kewanee, Illinois

by Kristin Harlow

KEWANEE, ILL. — SVN | Chicago Commercial has brokered the $1.2 million sale of a five-property self-storage portfolio in Kewanee in northwestern Illinois. The portfolio spans 300 units and 47,000 square feet. The properties are located at 1313 W 6th St., 817 Lake St., 604 N. Tremont St., 1103 N. Main St. and 514 N. Spring St. (Atkinson, Ill.) The property mix includes four MidState Mini Storage buildings and one Pay & Store Self Storage building. David Coupe of SVN represented the undisclosed seller. A regional self-storage operator completing a 1031 exchange was the buyer.

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IndustrialLeasing ActivityMidwestWisconsin

Infinity Machine & Engineering Renews 34,100 SF Industrial Lease in Ashwaubenon, Wisconsin

by Kristin Harlow

ASHWAUBENON, WIS. — Infinity Machine & Engineering Corp. has renewed its 34,100-square-foot industrial lease at 995 Waube Lane in Ashwaubenon, just south of Green Bay. Scott Revolinski of Founders 3 Real Estate Services represented the landlord, LCM Funds Real Estate LLC, in the transaction.

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AcquisitionsIndustrialMidwestWisconsin

Colliers Negotiates 19,773 SF Industrial Sale in Wauwatosa, Wisconsin

by Kristin Harlow

WAUWATOSA, WIS. — Colliers International has negotiated a 19,773-square-foot industrial sale in Wauwatosa for an undisclosed price. The property is located at 11200 W. Watertown Plank Road. Pat Hake and Russ Sagmoen of Colliers brokered the transaction. DEP Investments LLC was the buyer, while the seller was undisclosed

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AcquisitionsMidwestMinnesotaMultifamily

Marcus & Millichap Arranges $1.4M Sale of Apartment Building in St. Paul, Minnesota

by Kristin Harlow

ST. PAUL, MINN. — Marcus & Millichap has arranged the sale of Priscilla Street Villas in St. Paul for $1.4 million. The 11-unit apartment building is located at 2333 Priscilla St. All of the units are two-bedroom units. Mox Gunderson, Dan Linnell, Josh Talberg and Evan Miller of Marcus & Millichap brokered the transaction. Both the buyer and seller were private investors.

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AcquisitionsMixed-UseNew YorkNortheast

Meridian Brokers $22.5M Sale of Mixed-Use Portfolio in Brooklyn

by David Cohen

NEW YORK CITY — Meridian Investment Sales has brokered the $22.5 million sale of three contiguous mixed-use buildings in the Williamsburg neighborhood of Brooklyn. The Williamsburg neighborhood underwent gentrification starting in the late 1990s mostly due to low rents. Average rents today range from $1,400 for a studio apartment to $2,600 to $4,000 for a two-bedroom unit. Located at 119-123 Kent Avenue, the buildings contain 17 fully renovated residential apartment units and three ground-floor retail units. David Schechtman, Lipa Lieberman and Abie Kassin of Meridian represented the undisclosed seller in the transaction. The buyer was a private family via a 1031 exchange. Meridian also arranged $12 million in acquisition financing through a local savings bank.

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LoansMixed-UseNew YorkNortheast

Leviathan Capital Arranges $7.3M Loan for Mixed-Use Property in Soho

by David Cohen

NEW YORK CITY — Leviathan Capital has arranged $7.3 million in permanent mortgage financing for a mixed-use property in the Soho neighborhood of Manhattan. The property consists of 10 apartments and one retail unit occupied by a long-term tenant. Leviathan secured a 10-year, fixed-rate loan at 4.26 percent with five years of interest-only financing. The lender, a money center bank, charged no origination fee. The borrower was a local owner-operator.

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AcquisitionsMultifamilyNew JerseyNortheast

Marcus & Millichap Negotiates Sale of Apartment Tower in New Jersey for $22M

by David Cohen

EAST ORANGE, N.J. — Marcus & Millichap has negotiated the $22 million sale of Robert Towers, an 11-story, 206-unit multifamily tower in East Orange. The sales price equates to $106,796 per unit. Built in 1950, Robert Towers is located at 60 S Munn Ave., near the East Orange and Brick Church train stations, I-280 and the Garden State Parkway. The property is 10 minutes from Newark International Airport. Marcus & Millichap represented the seller, Metropolitan America, in the transaction. Marcus & Millichap Capital Corp. arranged $19.8 million in acquisition financing for the buyer, EOA 206 LP. The lender was undisclosed.

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AcquisitionsHealthcareNortheastRhode Island

CBRE Brokers $1.7M Sale of Medical Facility in Rhode Island

by David Cohen

NORTH PROVIDENCE, R.I. — CBRE has brokered the $1.7 million sale of 1635 Mineral Spring Ave., a two-story, 20,694-square-foot medical office facility in North Providence. The property, which is 80 percent leased, was built in 1976 and renovated in 2016. Located on a two-acre lot, the property includes 82 parking spaces. John Cregan of CBRE represented the undisclosed seller in the transaction. The buyer was Arkland LLC.

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LoansMassachusettsMixed-UseNortheast

Cornerstone Realty Capital Arranges $6.5M Construction Loan for Condo Development in Boston

by David Cohen

BOSTON — Cornerstone Realty Capital has arranged a $6.5 million construction loan for a 12-unit mixed-use condominium development in Boston’s Jamaica Plain neighborhood. The borrower was undisclosed. Located at 114-120 Brookside Ave., the building will feature three retail and nine residential condominiums. All residences will feature hardwood floors, in-unit washers and dryers and high-end finishes that include granite countertops, stainless steel appliances and custom-tile surround showers. Each unit will also have a private balcony. The square footage will vary depending on the unit style, but will average around 1,098 square feet. The building is slated for completion in 2019.

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AcquisitionsFloridaMultifamilySoutheast

American Landmark Acquires New Multifamily Community in South Florida for $41.9M

by Camren Skelton

BOYNTON BEACH, FLA. — American Landmark has acquired High Ridge Landing, a 184-unit multifamily community in Palm Beach County’s Boynton Beach. The sales price was not disclosed, but the South Florida Business Journal reports High Ridge Housing LLC, an affiliate of Eastwind Development, sold the property for $41.9 million, or $227,717 per unit. Mitch Sinberg, Matt Robbins, Bob Falese, Matt Cullison and Wes Moczul of Berkadia arranged a 10-year Freddie Mac loan on behalf of American Landmark. Built in 2017, High Ridge Landing features a mix of one- to three-bedroom units with stainless steel appliances, granite countertops, walk-in closets, private balconies and detached garages. Community amenities include a yoga and spin studio, swimming pool, electric car charging stations, fitness center and a business center. American Landmark will invest $500,000 in additional upgrades at the property, including improvements to the clubhouse, improving the pool area with a grill space and new furniture, adding a Wi-Fi café, upgrades to the fitness center and landscaping.

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