Property Type

Distel-Circle-Los-Altos-CA.jpg

LOS ALTOS, CALIF. — EAH Housing and the County of Santa Clara have broken ground on Distel Circle, an affordable housing rental community in Los Altos. Located at 330 Distel Circle, the property will offer 90 affordable residences for individuals and families earning between 30 percent to 80 percent of the area median income. Several units will be designated as permanent supportive housing to help address homelessness and housing instability in the region. Designed by KTGY Architects, Distel Circle will offer studio, one-, two- and three-bedroom apartments, a community room, an outdoor courtyard and dedicated on-site services. Construction is underway with completion slated for January 2027. The project’s primary funding source is Low Income Housing Tax Credit and State Credit equity. The County of Santa Clara contributed $25 million toward the development, of which $15.9 million came from the $950 million Measure A Affordable Housing Bond, which was approved by county voters in 2016, with the balance provided through the county’s No Place Like Home and HOME Investment Partnerships Program funds.

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Hazel-Dell-Vancouver-WA

VANCOUVER, WASH. — Gantry has secured a $27.8 million permanent loan to refinance maturing debt for Hazel Dell Marketplace, a grocery-anchored retail center in Vancouver. Situated on 28 acres at 408-512 NE 81st St., Hazel Dell offers 227,680 rentable square feet spread across 11 buildings. Current tenants include Safeway, Ross, Marshalls and Parkrose Hardware. Blake Hering and Abi Hunter of Gantry represented the borrower, a family office owner and developer partnership between two family office groups, in the financing. The fixed-rate, 10-year loan was secured from one of Gantry’s exclusive correspondent life company lenders and features an introductory interest-only period and a 30-year amortization schedule. Gantry will service the loan.

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4645-E-Cotton-Center-Blvd-Phoenix-AZ

PHOENIX — Voit Real Estate Services has arranged the purchase of 4645 E. Cotton Center Boulevard, a multi-tenant office property in Phoenix. PRH XXXXV LLC, a private investor, acquired the asset for $10 million, or $86 per square foot, from an undisclosed seller. Situated within Cotton Corporate Center, the 116,858-square-foot property underwent $9.4 million in renovations and capital improvements over the past decade. Mike Bench of Voit represented the buyer, while Chris Toci, Eric Wichterman and Mike Coover of Cushman & Wakefield represented the seller in the deal.

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SANDY, ORE. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Mount Hood Senior Living, a vacant 44-unit assisted living and memory care community located in Sandy, roughly 30 miles southeast of Portland. Totaling 26,000 square feet, the property was updated in 2022. A local operator acquired the community, which it plans to reopen. Jason Punzel, Vince Viverito, Brad Goodsell, Jake Anderson and Taylor Graham of SLIB brokered the transaction. 

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DENVER — Unique Properties/TCN Worldwide has arranged the $2.2 million sale of an industrial building located at 5101 Columbine St. in Denver. Sam Leger, Jack Gitlin and Graham Trotter of Unique Properties/TCN Worldwide represented the undisclosed seller in the deal. The name of the buyer was not released.

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JOLIET, ILL. — Peak Construction Corp. will complete two tenant improvement projects at NorthPoint Development’s Third Coast Intermodal Hub Building 1 in Joliet. The first build-out totals 303,053 square feet and features a clear height of 40 feet, 25 dock doors, one drive-in door, 59 trailer stalls, 164 car spaces, 2,500 square feet of office space and two remote restrooms. The second project is an expansion for an existing tenant for whom Peak previously built out its space. The expansion adds 431,627 square feet with a clear height of 40 feet, 49 dock doors, one drive-in door, 97 trailer stalls, 204 car spaces, 5,500 square feet of office space and a remote restroom. Both projects are slated for completion in fourth-quarter 2025. The architect is studioNorth. Peak completed construction of the 1 million-square-foot building in 2024.

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CHICAGO — Interra Realty has brokered the sales of two vintage apartment buildings in Chicago’s Lincoln Park neighborhood for a total of $13 million. The properties included 611-13 W. Arlington Place, a 23-unit asset built in 1927 that sold for $7.3 million, and 567-69 W. Arlington Place, a 14-unit building constructed in 1907 that traded for $5.7 million. Colin O’Malley of Interra represented the confidential seller of both properties. Joe Smazal and Mark Dykstra of Interra represented Hayes Properties, the buyer of 611-13 W. Arlington. The confidential buyer of the other property was self-represented. Both assets were fully occupied at the time of sale.

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PAPILLION, NEB. — Darland Construction Co. has completed a nearly 60,000-square-foot industrial facility for Mid-States Utility Trailer Sales in Papillion. The project is located just off Highway 50 and I-80 and serves as a regional hub for the semi-trailer dealer. The development features a trailer shop, parts warehouse, driver’s lounge and administrative offices. A notable aspect of the project includes more than 11 acres of exterior paving designed to accommodate the extensive inventory and traffic flow of large semi-trailers. Mid-States Utility operates four locations across Nebraska, Iowa and South Dakota.

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VERNON HILLS, ILL. — Fortec has acquired a 15,040-square-foot former ambulance warehouse at 401 W. Sullivan Drive in the Chicago suburb of Vernon Hills. The $1.7 million acquisition is part of a $5 million investment to transform the property into The Nest School-Vernon Hills, an early education center scheduled to open in spring 2026. Fortec has signed a lease with The Nest Schools, a childhood education operator with more than 50 schools nationwide. Construction is scheduled to begin this month, with planned improvements including a full interior renovation, the addition of an outdoor playground and a modern redesign led by New Look Architecture. The property formerly served as a Superior Ambulance headquarters. Fortec is financing the project with a lender partner and expects to complete construction by mid-2026. Northmarq’s Milo Spector represented Fortec in the deal.

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WESTLAND, MICH. — Bargain House Outlet has signed an 8,160-square-foot retail lease at One Michigan Place in Westland, a western suburb of Detroit. The tenant will move into the former Family Dollar space at the Kroger-anchored shopping center. Owen Kelly and Michael Murphy of Gerdom Realty & Investment represented the landlord, Axiom Properties. The deal was completed within the first week of listing the property for lease.

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