Property Type

CBRE Negotiates $2.6M Sale of Two-Story Office Building in Irvine, California

by Amy Works January 15, 2025

IRVINE, CALIF. — CBRE has arranged the sale of an office building located at 9890 Irvine Center Drive in Irvine. Navigators Advisory Group acquired the property from ICD Equities for $2.6 million. Built in 2007, the two-story 4,950-square-foot building features a mix of open and private offices. Recent upgrades include a loft-style creative design that features open ceilings and exposed ducting. Jeff Carr and Jonathan Carr of CBRE represented the seller, while Blake Garrett of The Feed Group represented the buyer in the transaction.

January 15, 2025

Loans Multifamily New Jersey Northeast

CBRE Arranges $17M Loan for Refinancing of Hoboken Apartment Building

by Taylor Williams January 15, 2025

HOBOKEN, N.J. — CBRE has arranged a $17 million loan for the refinancing of a 46-unit apartment building located at 600 Harrison St. in Hoboken. New York City-based The Daten Group developed the property in 2017. According to Apartments.com, the building offers one- and two-bedroom units with an average size of 895 square feet and amenities such as a zen garden, package handling service, resident lounge and grilling and dining stations. Jason Gaccione, Shawn Rosenthal, Jake Salkovitz, Fahri Ozturk, Richard Gatto and Zach McHale of CBRE originated the loan on behalf of Daten Group. The direct lender was not disclosed.

January 15, 2025

Acquisitions Massachusetts Northeast Office Retail

Atlantic Capital Partners Negotiates $15.4M Sale of Massachusetts Retail, Office Portfolio

by Taylor Williams January 15, 2025

BOSTON — Locally based brokerage firm Atlantic Capital Partners has negotiated the $15.4 million sale of The Trapelo Portfolio, a collection of four retail properties and one office building totaling roughly 70,000 square feet in Massachusetts. The retail component of the portfolio includes Duxbury Plaza, a 44,014-square-foot, grocery-anchored shopping center located south of Boston, as well as three freestanding buildings in Billerica, Burlington and Shrewsbury that are leased to the United States Postal Service. Justin Smith, Chris Peterson, Sam Koonce, Mary Powers and Matt Ericson of Atlantic Capital Partners represented the buyer and seller, both of which requested anonymity, in the transaction.

January 15, 2025

Acquisitions Net Lease New Jersey Northeast Retail

SRS Real Estate Brokers $7.4M Ground-Lease Sale of Northern New Jersey Retail Building

by Taylor Williams January 15, 2025

LINDEN, N.J. — SRS Real Estate Partners has brokered the $7.4 million ground-lease sale of a 5,585-square-foot retail building in the Northern New Jersey community of Linden that is leased to convenience store operator Wawa. The building was constructed in 2023 on 1.5 acres within the 350,000-square-foot Legacy Square shopping center, and Wawa has 19 years remaining on the corporate-guaranteed lease. Kyle Fant, Britt Raymond, Matthew Mousavi and Patrick Luther of SRS represented the seller, a partnership between Dallas-based Cypress Equities and San Francisco-based Stockbridge Capital Group, in the deal. The undisclosed, New York-based buyer acquired the property via a 1031 exchange.

January 15, 2025

Development Industrial Midwest Missouri

Procter & Gamble, MilliporeSigma Invest $256M to Expand Manufacturing Operations in St. Louis

by Kristin Harlow January 15, 2025

ST. LOUIS — Procter & Gamble (P&G) has expanded operations in St. Louis, investing $180 million and creating 100 new jobs. P&G’s St. Louis facility has been in operation for nearly a century and produces brands including Cascade, Mr. Clean and Febreze. The company’s expansion includes the addition of new equipment and a new warehouse at its existing St. Louis riverfront location, the conversion of an existing warehouse to a manufacturing facility and the construction of a new office building. MilliporeSigma has unveiled plans to invest $76 million and create 170 new jobs in St. Louis. This investment will triple the company’s manufacturing capacity for antibody drug conjugates for cancer treatment at the Bioconjugation Center of Excellence.

January 15, 2025

Acquisitions Industrial New Jersey Northeast

Dalfen, Centerbridge Buy 1.8-Acre Industrial Outdoor Storage Facility in Edison, New Jersey

by Taylor Williams January 15, 2025

EDISON, N.J. — A partnership between Dallas-based investment firm Dalfen Industrial and funds advised by affiliates of Centerbridge Partners LP has purchased a 1.8-acre industrial outdoor storage (IOS) facility in the Central New Jersey community of Edison. The facility at 83 Gross Ave. houses a 4,500-square-foot building with a clear height of 14 feet. Mark Silverman, Liam McGregor and Elli Klapper of CBRE represented the undisclosed seller in the off-market transaction.

January 15, 2025

Acquisitions Illinois Industrial Midwest

Colliers Arranges Sale of Whole Foods-Occupied Distribution Center in Chicago

by Kristin Harlow January 15, 2025

CHICAGO — Colliers has arranged the sale of a 140,310-square-foot distribution center fully leased to Whole Foods Market in Chicago for an undisclosed price. Jeff Devine, Steve Disse and Tyler Ziebel of Colliers represented the seller, Ryan Cos. US Inc. Built in 2017 by Ryan, the property at 716 E. 111th St. services Whole Foods locations in the Chicago area and throughout the Midwest and Canada. Metzler Real Estate advised the buyer, an offshore investor.

January 15, 2025

Development Midwest Multifamily Wisconsin

McShane to Build 248-Unit Apartment Complex in West Allis, Wisconsin

by Kristin Harlow January 15, 2025

WEST ALLIS, WIS. — McShane Construction Co. will build The Apiary, a two-building, 248-unit apartment complex in the Milwaukee suburb of West Allis. Land by Label is the developer. A two-story amenity space will connect the two buildings and feature a clubroom, sports bar, fitness center and golf simulator. Outside, a courtyard will house a swimming pool and grill area. McShane will perform environmental remediation prior to construction on the site, which formerly housed a manufacturing campus. Completion of the project is slated for October 2026. AG Architecture is the architect of record.

January 15, 2025

Acquisitions Industrial Midwest Ohio

MAG Capital Partners Acquires 158,484 SF Food Processing Facility in Metro Cleveland

by Kristin Harlow January 15, 2025

WILLOUGHBY HILLS, OHIO — MAG Capital Partners has acquired a 158,484-square-foot specialty food processing facility in Willoughby Hills in a sale-leaseback transaction with Produce Packaging Inc. (PPI). The property, located at 27853 Chardon Road in suburban Cleveland, has served as PPI’s headquarters since 2019. PPI’s $15 million investment in building infrastructure and systems supports multi-temperature/multi-humidity zones. Originally developed as a Sam’s Club, the asset features a clear height of 27 feet, 12 dock doors and four drive-in doors. Phil DiGennaro and Joe DiGennaro of STREAM Capital Partners represented PPI in the transaction.

January 15, 2025

Acquisitions Illinois Midwest Retail

Marcus & Millichap Brokers $5.1M Sale of Retail Strip Center in Champaign, Illinois

by Kristin Harlow January 15, 2025

CHAMPAIGN, ILL. — Marcus & Millichap has brokered the $5.1 million sale of Champaign Station, a six-suite retail strip center in Champaign. Built in 2007, the 21,152-square-foot property is fully leased to a mix of restaurant and service-oriented tenants. The asset is shadow anchored by Menards and adjacent to Market Place Shopping Center. Alex Perez and Chris Garavaglia of Marcus & Millichap represented the seller, a private equity group, and procured the buyer, a private equity group based out of North Carolina. The duo previously brokered the sale of the property in 2020.

January 15, 2025

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