CHERRY HILL, N.J. — Club Studio Fitness will open a 30,240-square-foot gym in the Southern New Jersey community of Cherry Hill. The space is located within Ellisburg Shopping Center and will include training areas, a juice bar and recovery facilities. The opening is slated for spring 2027. Federal Realty Investment Trust owns Ellisburg Shopping Center, which is anchored by Whole Foods Market and Restoration Hardware Outlet.
RENO, NEV. — LDK Ventures has completed the purchase of Reno Distribution Center, an industrial property located at 4910 Longley Lane near the Reno-Tahoe International Airport in Reno. Eric Bennet and Tomi Jo Lynch of CBRE brokered the acquisition. Totaling 300,564 square feet, the asset features four suites, warehouse and storage facilities, dedicated office space and dock-high and ground-level loading doors. The property offers direct access to SR-395 and I-580.
Glencrest Group, Sky Alps Capital Buy 155-Unit Cedar Square Apartment Community in Beaverton, Oregon
BEAVERTON, ORE. — A joint venture between Glencrest Group and Sky Alps Capital has acquired Cedar Square, a garden-style multifamily community at 10480 SW Eastridge St. in Beaverton, from a local owner for $29.8 million. Ira Virden, Carrie Kahn and Owen Wise of JLL Capital Markets represented the seller, while Charles Halladay and Jonah Aelyon of JLL arranged acquisition financing for the buyer. Built in 1980 with additions in 2016 and 2024, Cedar Square offers 155 one-, two- and three-bedroom apartments with patios or balconies. Onsite amenities include a fitness center, playground, laundry facilities, ample parking and abundant green space. The seller completed capital improvements, including repaving and replacing siding, windows, decks and roofs on the majority of the buildings.
PALO ALTO, CALIF. — Gantry has secured a $13.5 million permanent loan to refinance a timely maturity on a historic office building in Palo Alto. Located at 384 University Ave., the three-story property features 14,500 square feet of rentable space, including street-level retail space with two office floors above. The property is currently fully leased with a staggered lease roll. Jeff Wilcox and Joe Foley of Gantry represented the borrowers, Big Property Ventures and Baskin Investment Group, in the financing. An institutional pension fund lender provided the five-year, fixed-rate loan, which features first-year interest-only payments followed by a 25-year amortization.
DENVER — The Boulder Group has brokered the acquisition of a single-tenant property located at 18300 E. 66th Ave. in Denver. A Colorado-based 1031 exchange investor acquired the asset from a Northeast-based partnership for $5.9 million. Caliber Collision occupies the 16,785-square-foot property, which was built in 2021, on a long-term, triple-net lease. Caliber Collision is the largest repair company in the United States with more than 1,800 locations across 41 states. Zach Wright and Brandon Wright of The Boulder Group represented the buyer in the deal.
EFFINGHAM, ILL., JOPLIN, MO. AND PADUCAH, KY. — CBRE has arranged the sale of a six-property, 589-room Hilton select-service and extended-stay hotel portfolio located across Illinois, Missouri and Kentucky. Chatham Lodging Trust acquired the portfolio. Nate Sahn and James Foxx of CBRE represented the seller, McHugh Hospitality Group. The properties include Home2 Suites Effingham, Hampton Inn & Suites Effingham, Home2 Suites Joplin, Homewood Suites Joplin, Hampton Inn & Suites Paducah and Homewood Suites Paducah. Several of the assets received recent renovations.
MARQUETTE, IOWA — Bally’s Marquette has opened its new 31,280-square-foot gaming and entertainment destination in northeast Iowa. The $26.2 million project transformed the historic riverboat casino into a permanent landside facility at 100 Anti Monopoly St. The property features more than 400 slot machines and electronic table games, live blackjack and Ultimate Texas Hold ‘Em as well as a sportsbook. Dining and beverage concepts include 1994 Sports Bar, Sidecar Bar, Benchfront Coffee and Riverside Grill. The landside move created nearly 80 new jobs. Bally’s operates 19 casinos across 11 states.
BUCHANAN, MICH. — AutoZone has leased an 8,000-square-foot former Rite Aid store located at 715 E. Front St. in Buchanan within southwest Michigan. Construction is underway at the building. Joshua Jacobs of NAI Wisinski of West Michigan and Brandon Hanna of Encore Real Estate Investment Services represented the undisclosed landlord. Mike Murray of Advantage Commercial Real Estate represented the tenant, which operates more than 6,000 stores nationwide.
MIAMI — Miami-Dade County and Related Urban Development Group, the affordable and workforce housing arm of Related Group, has opened the Gallery at Marti Park, a 176-unit mixed-income community located in the Little Havana neighborhood of Miami. Residences are reserved for low-income seniors under the Rental Assistance Demonstration (RAD) program, as well as workforce households earning 80 and 120 percent of the area median income (AMI). The project was developed utilizing a 75-year ground lease with Miami-Dade County. Spanning 12 floors, Gallery at Marti Park offers two-bedroom floorplans ranging in size from 893 to 1,064 square feet, according to Apartments.com. Monthly rental rates begin at $2,995. Amenities include a fitness center, clubhouse, coworking space, package room, outdoor grilling areas, private bike storage, a fourth-level recreational deck and a ground-level senior center that will serve residents and the public. The site also sits adjacent to Joe Moretti Phase 2B, a 96-unit affordable housing project redeveloped by Related Urban in 2022.
OWENS CROSS ROADS, ALA.— Franklin Street has negotiated the sale of Hampton Cove Shops, a 41,681-square-foot retail center located in Owens Cross Roads, approximately 15 miles southeast of Huntsville. Bryan Belk and John Tennant of Franklin Street represented the seller, Birmingham, Ala.-based Fairway Investments, in the transaction. Prudent Growth Partners purchased the property for $7.6 million. Built in 2008, Hampton Cove Shops was 96 percent leased at the time of sale to tenants including Dollar Tree, H&R Block, sports bar Jefferson’s, We Rock the Spectrum Kid’s Gym and ALFA Insurance.