Wednesday, July 8, 2026
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1700-S-Pavilion-Center-Dr-Las-Vegas-NV
LoansNevadaOfficeWestern

CBRE Secures $75M Refinancing for 266,000 SF Office Building in Las Vegas

by Amy Works

LAS VEGAS — CBRE has secured $75 million in refinancing for an office building located at 1700 S. Pavilion Center Drive within Summerlin, a master-planned community in Las Vegas. Bob Ybarra of CBRE arranged the five-year, fixed-rate loan on behalf of the landlord, Howard Hughes. Completed in 2022, the stabilized 10-story building offers 266,000 square feet of office space. The property features spacious floor plans, outdoor areas and design elements that promote tenant well-being and create a sustainable environment.

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RangeWater-Candelas-Arvada-CO
AcquisitionsColoradoDevelopmentMultifamilyWestern

RangeWater, TMGRI Buy Land in Arvada, Colorado for 380-Unit Multifamily Development

by Amy Works

ARVADA, COLO. — A joint venture between RangeWater Real Estate and TMGRI, a subsidiary of The Meridian Group, has acquired a 16.7-acre site in northwest Arvada within Candelas, a master-planned community. Slated to break ground in September, the development will include 324 apartment residences with one- and two-bedroom floor plans ranging from 688 square feet to 1,196 square feet, along with 56 townhomes with two- and three-bedroom layouts ranging from 1,246 square feet to 1,823 square feet. Interior features will include open floor plans with nine-foot ceilings, chef-inspired kitchens with Shaker cabinetry, black granite and white quartz countertops, stainless steel appliances and large balconies. Additionally, townhomes will offer back patios and garages. Community amenities will include a standalone clubhouse featuring coworking space, a residents’ lounge, garden room and private offices. Other amenities will include an indoor/outdoor fitness club, resort-style pool and spa with outdoor dining and grilling areas, a dog park, fire pits and a community garden. Completion is scheduled for April 2028.

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16300-Ventura-Blvd-Encino-CA
AcquisitionsCaliforniaMixed-UseMultifamilyOfficeWestern

Kidder Mathews Arranges Sale of 57,000 SF Apartment, Retail Building in Encino, California

by Amy Works

ENCINO, CALIF. — Kidder Mathews has brokered the sale of a mixed-use property at 16300 Ventura Blvd. in Encino. A private family office acquired the asset from an undisclosed seller. Marketed for $34 million, the 57,000-square-foot property sold for an undisclosed price. The property offers 49 residential units and two ground-floor commercial suites anchored by JP Morgan Financial Center and Pinnacle Estate Properties. The residences include a mix of townhomes, two-bedroom and one-bedroom units. Community amenities include a fitness center, hot tub, electric vehicle charging stations and subterranean parking. Darrell Levonian and Tanel Harunzade of Kidder Mathews, along with David Saghian of Lyon Stahl, represented the seller, while Levonian and Harunzade represented the buyer in the deal.

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DevelopmentMultifamilyNew YorkNortheast

Stav Equities to Develop 16-Unit Apartment Building in The Bronx

by Taylor Williams

NEW YORK CITY — Locally based firm Stav Equities will develop a 16-unit apartment building at 917 Home St. in The Bronx. The property will have 12 one-bedroom units and four studios that will be rented at market rates. Christian Dedvukaj of Princeton Realty Group represented both Stav Equities and the seller, the Saez Family, in the off-market acquisition of the land. The parcel sold for $715,000. Construction is expected to be complete next spring.

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18590-Skipper-Ln-Morgan-Hill-CA
AcquisitionsCaliforniaRetailWestern

Marcus & Millichap Brokers $8M Sale of Retail Property Net Leased to 7-Eleven in Silicon Valley

by Amy Works

MORGAN HILL, CALIF. — Marcus & Mililchap has brokered the sale of a 7-Eleven net-leased retail property located at 18590 Skipper Lane in Morgan Hill. The asset traded for $8 million. Built in 2021, the 3,700-square-foot property sits on a 1.3-acre lot. Darpan Patel, James Defusto and Dan Yozwiak of Marcus & Millichap represented the seller in the deal. Tony Solomon of Marcus & Millichap served as broker of record in California.

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LoansMidwestMissouriMultifamily

Gantry Arranges $32.4M Loan for Refinancing of Apartment Community in Suburban St. Louis

by Kristin Harlow

VALLEY PARK, MO. — Gantry has arranged a $32.4 million permanent loan to refinance construction debt for 44 West Luxury Living in the St. Louis suburb of Valley Park. Mia Rose Holdings is the developer and owner of the 204-unit, garden-style apartment community. Comprised of five buildings and a clubhouse, the property was completed in 2024. In addition to the clubhouse, amenities include a heated pool and sundeck, outdoor grill area and fitness center. Joe Monteleone and Bonnie Monteleone of Gantry represented the borrower, a private real estate investor. An institutional direct lender provided the five-year, fixed-rate loan.

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IllinoisLoansMidwestOfficeRetail

Next Realty Refinances 135,315 SF Kingsbury Center Office, Retail Building in Chicago’s River North

by Kristin Harlow

CHICAGO — Kingsbury Orleans LP, a partnership led by an affiliate of Next Realty LLC, has refinanced Kingsbury Center located at 350 W. Hubbard St. in Chicago’s River North. The Next Realty affiliate has been an investment partner in the 135,315-square-foot office and retail building since it was developed in 1988. Habitat, a major building tenant, has provided management services since 1992 in addition to maintaining an ownership interest through an affiliate. Proceeds from the long-term refinancing, which extends through 2050, provide working capital and flexibility to market and build out currently available building vacancies. At the time of the refinancing, Kingsbury Center was 95 percent leased. Kingsbury Center rises six stories with 92,433 square feet of office space and 42,882 square feet of ground-floor retail space. Signature tenants include Habitat, Related Cos., CVS and Petco. Office tenants are primarily in the finance, real estate, legal and service sectors. Steve Levitas of Newmark is leasing the office space vacancy. Daniel Rosenberg of BWE arranged the financing.

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AcquisitionsIllinoisMidwestMultifamily

Kiser Group Brokers $10.9M Sale of Multifamily Property in Chicago’s Lakeview Neighborhood

by Kristin Harlow

CHICAGO — Kiser Group has brokered the $10.9 million sale of a multifamily property located at 434 W. Wellington Ave. in Chicago’s Lakeview neighborhood. Lee Kiser, Andy Friedman, Jake Parker and Viktor Radzieta of Kiser represented the seller, TLC Management. The buyer, J&J Equities, plans to make property improvements. The asset was 98 percent occupied at the time of sale.

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DevelopmentIndustrialMidwestMissouri

Contegra Completes 120,000 SF Manufacturing Facility for Elite Tool in Moscow Mills, Missouri

by Kristin Harlow

MOSCOW MILLS, MO. — Contegra Construction has completed a 120,000-square-foot manufacturing facility for Elite Tool in Moscow Mills, a northern suburb of St. Louis. The project replaces the company’s 70,000-square-foot manufacturing operation. The $20 million expansion is expected to create 30 new jobs. Located at 609 Tropicana Village Drive, the property features a 110,000-square-foot manufacturing zone, 8,000-square-foot office and 2,000 square feet of mezzanine storage. The facility includes various power and mechanical infrastructure as well as three dock doors, an oversized drive-in door and parking for 90 vehicles. Elite Tool is a lean contract manufacturer for the aerospace, commercial and defense industries.

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DevelopmentIndustrialMidwestOhio

Prologis Breaks Ground on 112,320 SF Industrial Expansion for MillerKnoll in Batavia, Ohio

by Kristin Harlow

BATAVIA, OHIO — Prologis has broken ground on an expansion project for MillerKnoll at 3001 Afton Drive in Batavia near Cincinnati. The logistics project will add 112,320 square feet to the existing 617,760-square-foot warehouse and distribution facility, giving MillerKnoll the space it needs to support its growing Design Within Reach home furnishings business across North America. An estimated 30 full-time jobs will be created once the development is complete, bringing the total number of jobs at the location to approximately 150 employees. Hemmer Construction Co. is the general contractor.

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