ONTARIO, CALIF. — Real Estate Development Associates and Clarion Partners, along with Premier Design + Build Group, have broken ground on South Ontario Logistics Center — Building 6 (SOLC) in Ontario. Slated for delivery in June 2026, the 700,000-square-foot asset will feature 113 dock doors, 261 trailer stalls, 445 parking spaces, dual 2,000-kilowatt generators and a 16,000-amp electrical service.
TACOMA, WASH. — Goodman Real Estate has completed the sale of Sienna and Sienna Park, two multifamily properties in Tacoma, to Interstate Equities Corp. for $43 million, or $173,387 per unit. Located adjacent to one another, the properties offer a total of 248 units. Built in 1986, Sienna offers 80 two- and three-bedroom apartments spread across eight residential buildings. Constructed in 1988, Sienna Park offers 168 one-, two- and three-bedroom apartments across 17 buildings. The communities share an onsite leasing office and resident clubhouse, an outdoor pool, fitness center and standalone cabana. Giovanni Napoli, Philip Assouad, Nick Ruggiero and Anthony Palladino of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal.
CLERMONT, FLA. — GBT Realty Corp. has broken ground on Hammock Ridge Commons, a 30,500-square-foot shopping center located in Clermont, approximately 25 miles east of Orlando. An entity doing business as Shoppes at Hammock Ridge Crossing LLC sold the original 3.7-acre land parcel to the Brentwood, Tenn.-based developer for $2.5 million. A 23,273-square-foot Sprouts Farmers Market will anchor Hammock Ridge Commons, which will be the first store in Lake County for the Arizona-based specialty grocer. Additional tenants will include a dentist and nail salon, and roughly 1,700 square feet of inline space is still available for lease at the center. The general contractor, J. Raymond Construction Corp., plans to deliver Hammock Ridge Commons in spring 2026.
LOUISVILLE, KY. — The Boulder Group has arranged the $3.7 million sale of a single-tenant retail property located at 3600 Bardstown Road in Louisville. Chase Bank occupies the 3,176-square-foot property on a triple-net lease, which has more than 11 years remaining on the term and two five-year renewal options with built-in 10 percent rental escalations. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer, a Midwest-based institution, and the seller, a private family from the Midwest, in the transaction. Both parties requested anonymity. The Chase Bank property serves as an outparcel to a Lowe’s Home Improvement store and is situated within one mile of I-264.
OCEANSIDE, CALIF. — Marcus & Millichap has arranged the sale of Terra Oceanside, a multifamily property in Oceanside. A personal trust sold the asset to a limited liability company for $18.3 million. Located at 3964 and 3970 Waring Road, Terra Oceanside offers 62 studio, one- and two-bedroom apartments with patios or balconies, vinyl flooring, quartz countertops and stainless steel appliances. Community amenities include an onsite management office, laundry facilities, a fitness center, built-in barbecues and ample covered and uncovered parking spaces. Tyler Leeson, Drew Holden and Matthew Kipp of Marcus & Millichap represented the seller, while Holden, Kipp, Leeson and David Yeh of Marcus & Millichap represented the buyer in the transaction.
SAN MATEO, CALIF. — Newport Beach, Calif.-based MetroGroup Realty Finance has provided a $13.9 million loan for the conversion of an existing 99-room Best Western hotel to a Home2 Suites by Hilton hotel in San Mateo. J.D. Blashaw of MetroGroup Realty Finance led the team in providing the financing. MetroGroup’s initial $9.5 million funding retired a bridge loan and provided $4.4 million of future funds to execute the brand conversion.
WASHINGTON, D.C. — SRS Real Estate Partners has brokered the nearly $3 million sale of a restaurant property located at 301 Massachusetts Ave. in Washington, D.C.’s Capitol Hill neighborhood. Pupatella Neapolitan Pizza has occupied the 4,154-square-foot restaurant since fall 2024 on a triple-net lease. Rick Fernandez and Andrew Fallon of SRS represented the seller, a private owner based in New York City, in the transaction. The buyer was a local private investor. Both parties requested anonymity. Sandy Spring Bank provided an undisclosed amount of acquisition financing to the buyer. The restaurant was recently renovated and features 1,500 square feet of outdoor patio space.
WHEATLAND, WYO. — Prime Investment Properties has arranged the sale of the Heartland Inn & Suites hotel in Wheatland. Terms of the transaction were not disclosed. Heartland Inn & Suites features 57 guest rooms, complimentary breakfast, a fitness center, business services and convenient access to I-25.
HARTLAND, WIS. — Continental Properties and Three Leaf Partners have opened Westrock Residences, a 267-unit townhome and apartment property in the Milwaukee suburb of Hartland. The community offers one-, two- and three-bedroom stacked flat apartments as well as two- and three-bedroom, two-story townhome-style residences. Amenities include a resort-style pool, clubhouse, fitness center, golf simulator, dog run, playground and more than two miles of walking paths. Monthly rents start at $1,890, according to the property’s website.
ALSIP, ILL. — Byline Bank has provided $17 million for the acquisition and future capital improvement of two industrial properties located at 5750 W. 118th St. and 11700 S. Central Ave. in Alsip. TradeLane Properties was the borrower. The manufacturing facility on 118th Street totals 366,869 square feet and was built between 1996 and 2000. It features exterior dock doors, existing bridge cranes, 480 expandable parking stalls and active multi-track rail service via Indiana Harbor Belt. TradeLane plans to reposition the asset by replacing the roof, paving, exterior and interior painting, landscaping and preparing the office space for lease. The second property is an 84,376-square-foot distribution center that is fully leased and situated on 4.5 acres. Constructed in 1990, the building features a 4,500-square-foot office space, 15 exterior dock-high doors, a drive-in door and 26 auto parking stalls. The acquisition marks the 14th transaction between Byline and TradeLane in the last five years.