Wednesday, July 16, 2025
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Seventy5-Business-Park-Phoenix-AZ
AcquisitionsArizonaIndustrialWestern

Baron Properties Sells Four-Building Seventy5 Business Park in Phoenix for $46.7M

by Amy Works

PHOENIX — Baron Properties has completed the disposition of Seventy5 Business Park, a four-building industrial infill park in Phoenix, to MIG Real Estate for $46.7 million. Situated on 14.4 acres at 7150 W. Roosevelt St., the 222,394-square-foot Seventy5 Business Park features flexible small bay sizes, abundant loading capabilities with common area truck wells and fully built-out office spaces. Will Strong, Phil Haenel, Foster Bundy, Molly Hunt, Michael Matchett, Jack Stamets and Madeline Warren of Cushman & Wakefield’s Mountain West Capital Markets Industrial team represented the seller in the deal. Gary Anderson and Nik Vallens of Cushman & Wakefield provided market leasing advisory services.

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2100-Haffley-Ave-National-City-CA
AcquisitionsCaliforniaIndustrialWestern

CBRE Brokers $7.9M Sale of Industrial Property in National City, California

by Amy Works

NATIONAL CITY, CALIF. — CBRE has arranged the sale of an industrial building located at 2100 Haffley Ave. in National City. ALC Investments, a local owner-occupier, acquired the asset for $7.9 million. Situated on 2 acres, the 24,140-square-foot property offers 18-foot clear heights, one grade-level door, five dock-high doors and two rail-served doors. Matt Harris, Matt Porch and Anthony DeLorenzo of CBRE represented the undisclosed seller in the deal.

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IndustrialLeasing ActivityNew JerseyNortheast

TWTH Express Signs 255,069 SF Industrial Lease in Bayonne, New Jersey

by Taylor Williams

BAYONNE, N.J. — TWTH Express has signed a 255,069-square-foot industrial lease in the Northern New Jersey community of Bayonne. The California-based freight and logistics company is taking space at Bayonne Distribution Center, a three-building, 613,129-square-foot industrial complex that includes 2.3 acres of industrial outdoor storage space. Chris Okada of Okada & Co. and Emanuel Westfried of Two Bins Capital represented the tenant in the lease negotiations. Russell Verducci of NAI James E. Hanson represented the landlord, Turnbridge Equities, which acquired the property earlier this year and recently launched a $12 million repositioning program.

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Dutch-Bros-El-Centro-CA
AcquisitionsCaliforniaRetailWestern

Hanley Investment Group Negotiates $2.6M Sale of Retail Property in El Centro, California Leased to Dutch Bros Coffee

by Amy Works

EL CENTRO, CALIF. — Hanley Investment Group Real Estate Advisors has negotiated the $2.6 million sale of a single-tenant retail building located in El Centro. Dutch Bros Coffee occupies the drive-thru property on a 15–year, absolute triple-net-lease with 10 percent rental increase every five years. Formerly a Wendy’s restaurant, the 2,411-square-foot building was originally built in 1988. Situated on an outparcel to a Vons-anchored retail center, nearby tenants include Smart & Final Extra!, Dollar General Market, Costco, Lowe’s Home Improvement, Target and Ashley Furniture. Bill Asher, Jeff Lefko and Beau Velten of Hanley Investment Group represented the seller and developer, Portland-based Cole Valley Partners, in the transaction. Bill Johnson of KW Commercial represented the buyer, a Northern California-based private investor.

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Affordable HousingLoansMultifamilyNew YorkNortheastSeniors Housing

Lument Provides $26.8M HUD Loan for Three Affordable Seniors Housing Properties in Brooklyn

by Taylor Williams

NEW YORK CITY — Lument has provided a $26.8 million HUD-insured loan for the refinancing of three affordable seniors housing properties totaling 203 units in Brooklyn. West End Gardens I and II are both located in the Borough Park neighborhood, while Webster Terrace is located in the Kensington submarket. All three properties are reserved for renters aged 62 and above and mobility-impaired individuals. Paul Weissman and Andrew Nicoll of Lument originated the financing, which was structured as a scattered-site loan and carries a fixed interest rate and a fully amortized 35-year term, through HUD’s 223(f) program. The borrower was HDF Cos.

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AcquisitionsDevelopmentIndustrialMaineNortheastSelf-Storage

Marcus & Millichap Brokers Sale of Self-Storage Development Site in Wells, Maine

by Taylor Williams

WELLS, MAINE — Marcus & Millichap has brokered the sale of a self-storage development site in Wells, located in York County near the Maine-New Hampshire border. The site at 71 Spencer Drive is approved for a 70,000-square-foot (net rentable) facility. Nathan Coe, Gabriel Coe, Brett Hatcher and Luke Dawley of Marcus & Millichap represented the locally based seller, Patco Construction, in the transaction. The team also procured the buyer, a partnership between two New Hampshire-based investment and development firms, Brady Sullivan Properties and True Storage.

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DevelopmentMidwestMissouriMultifamily

MBG Nears Completion of 180-Unit Luxury Apartment Complex in Wentzville, Missouri

by Kristin Harlow

WENTZVILLE, MO. — Builder MBG is nearing completion of Hearthstone at Autumn Hollow, a 180-unit luxury apartment complex in the St. Louis suburb of Wentzville. The first building is slated for occupancy this month, with the entire five-building complex slated for completion in January. Mia Rose Holdings and J.V. Lombardo are co-developing the community. Amenities will include a fitness center, coworking space, resort-style pool, conference room, dog park, clubhouse and walking paths. Capital Eleven Management is the property manager. Additional project partners include Rosemann & Associates, Engenuity, Civil and Environmental Consultants and Landesign.

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AcquisitionsHealthcareLoansMidwestOhio

MMCC Arranges $5.1M Acquisition Loan for Medical Office Property in Canal Winchester, Ohio

by Kristin Harlow

CANAL WINCHESTER, OHIO — Marcus & Millichap Capital Corp. (MMCC) has arranged a $5.1 million acquisition loan for a medical office property located at 9695 Basil Western Road in Canal Winchester, a southeast suburb of Columbus. The building is home to MedVet, which operates a 24-hour emergency vet. Chad O’Connor of MMCC arranged the financing with a credit union on behalf of the private borrower. The 10-year loan features a 6.5 percent interest rate, 30-year amortization period and 60 percent loan-to-value ratio.

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AcquisitionsIllinoisMidwestRestaurantRetail

Boulder Group Brokers $2.7M Sale of Chipotle-Occupied Retail Building in Chicago Heights

by Kristin Harlow

CHICAGO HEIGHTS, ILL. — The Boulder Group has brokered the $2.7 million sale of a retail building net leased to Chipotle in Chicago Heights. The newly constructed property at 1399 W. Lincoln Highway features a drive-thru. Chipotle has a new 15-year lease with 10 percent rental escalations every five years and four five-year renewal options. Randy Blankstein and Jimmy Goodman of Boulder Group represented the seller, a Midwest-based commercial real estate company. The buyer was a 1031 exchange investor based in California. As of 2025, there are 3,752 Chipotle locations worldwide.

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