GREENSBORO, N.C. — Berkadia has provided a $71.3 million Freddie Mac loan for the refinancing of Abbotswood at Irving Park, a senior living community located in Greensboro. Austin Sacco, Steve Muth, Garrett Sacco and Alec Rosenfeld of Berkadia Seniors Housing & Healthcare originated the financing on behalf of the borrower, KISCO Senior Living. Located at 3504 Flint St., Abbotswood at Irving Park offers cottages and independent living and assisted living units, as well as memory care suites.
CARROLLTON, GA. — Stratus Development Group has announced the redevelopment of The Shoppes at Rome, transforming the first ever retail center built in Carrollton. Situated about 50 miles west of Atlanta, the 40,000-square-foot retail project spans nearly three acres and a full city block. The historic property is located at 415 Rome St., one block from Adamson Square shops and restaurants. Max Albers of Atlanta-based Stratus Property Group is leading the leasing for the redevelopment, which aims to bring new retailers to downtown Carrollton and spur further development in the area. The City of Carrollton has recently unveiled more developments in the downtown district, including The Amp, a 1,000-seat amphitheater, multiple new breweries and events such as half-marathon runs and the “Taste of Carrollton.”
MIAMI BEACH, FLA. — Coworking operator Regus has signed a long-term lease for nearly 46,000 square feet in Miami Beach, committing to occupying an entire Class A, boutique office building. Set to move in before the end of the year, Regus will establish its third and largest space in the submarket at 429 Lenox, where the new location will operate under the firm’s Spaces brand. Designed by Miami-based architect Kobi Karp, the property features modern office spaces, a rooftop deck, an onsite parking garage and multiple signage opportunities. Stephen Rutchik and Ana Paula of Colliers’ South Florida office represented the landlord, Azora Exan, in the lease transaction. JLL’s Adam Bernstein represented Regus in the deal.
WEST PALM BEACH, FLA. — Marcus & Millichap has brokered the $10.1 million sale of the nearly 50,000-square-foot Cross County Plaza retail center in West Palm Beach. Located at 1922-1948 N. Military Trail, Cross County Plaza is fully occupied and anchored by national retailers including dd’s Discounts and K&G Fashion Superstore. The property is an outparcel to the larger Cross County Plaza shopping mall, which is situated near I-95 and Florida’s Turnpike. Tenants at the larger center include Presidente Supermarket, Ross Dress for Less, YouFit Gyms and Ollie’s Bargain Outlet. Douglas Mandel, Zach Levine and Josh Gilbert of Marcus & Millichap’s Fort Lauderdale office represented the seller in the transaction. Pliskin Realty was the buyer.
HANOVER, N.H. — Dartmouth College is underway on construction of a 285-bed student housing project at its campus in Hanover, located in the central part of the Granite State. The project is being developed solely by the school and will be located at 25 W. Wheelock St. The five-story structure will feature two-, three- and four-bedroom apartments with full kitchens, living rooms and storage spaces. Other project partners include architecture firm Cube 3 and design-build firm PROCON. Construction began in October and is expected to be complete in advance of the fall 2026 semester.
KANSAS CITY, MO. — OpenStore has selected the Kansas City market for its first-ever fulfillment center. The 113,000-square-foot facility is expected to create 46 new jobs and bring $2 million in new annual payroll to the region in the next five years. OpenStore is the largest operator of businesses on Shopify, distributing goods across a range of beauty, home goods, apparel and electronics. The Kansas City distribution center, located at Executive Park Logistics Center, represents a $5 million capital investment and positions OpenStore to provide faster and more efficient service to its growing portfolio of 40 e-commerce brands. The Miami-based e-commerce company says it selected Kansas City due to its central U.S. access point and its robust labor pool with distribution industry experience. The Kansas City region offers access to 90 percent of the contiguous U.S. in two days or less by truck. The Kansas City Area Development Council promotes the region’s business and lifestyle assets to companies and talent around the world.
CHICAGO — Skender has completed interior construction of the new 35,000-square-foot headquarters for architectural firm SCB in Chicago. The company relocated from 625 North Michigan to the historic AMA Plaza building, which was designed by famed architect Ludwig Mies van der Rohe. SCB designed its new space on the 25th floor that features a mix of open office, conference rooms, collaboration spaces, a café, library and private executive offices. The build-out also features a shop that enables the firm to create design models for client presentations. A custom 3D model wall in the lobby highlights SCB’s impact on the city’s skyline. The project team also included Syska Hennessy Group as the engineer and JLL as owner’s representative.
WAUKESHA, WIS. — Irgens is underway on the conversion of an office property to healthcare space in the Milwaukee suburb of Waukesha. The 58,223-square-foot building is part of Stone Ridge Business Park. Irgens recapitalized the project, and construction is set to begin later this month. Renovations will include HVAC upgrades, lobby and common area updates, a new fitness and conference center, and new external signage. EUA is the architect, Catalyst Construction is the general contractor and Summit Credit Union is providing financing. The project, named Stone Ridge Medical Commons, is slated to open in spring 2025. Visage Facial Plastic Surgery and Retina & Vitreous Consultants of Wisconsin have both signed leases at the property and will open offices next year. Ben Anderson of Colliers represented Visage. Markel, the building’s original anchor tenant, is relocating to Research One in the Milwaukee County Research Park.
NEW BALTIMORE, MICH. — Bernard Financial Group (BFG) has arranged a $22 million loan for the refinancing of Aspen Creek Apartments in New Baltimore, a city in eastern Michigan. The apartment property features 776 units. Joshua Bernard of BFG arranged the loan through Securian Life Insurance Co. on behalf of the borrower, Aspen Creek Apartments LP.
WINAMAC, IND. — Sullivan Development LLC has broken ground on Willow Creek Villas, a 34-unit affordable housing community in Winamac, a city in northwest Indiana. The development site is within walking distance of a shopping plaza and the largest grocery store in the county, Sanders Foods. Completion is slated for late 2025, and the $9.9 million project will include five buildings. The Indiana Housing and Community Development Authority awarded tax credits through the 2024 Rental Housing Tax Credit General Set-Aside. The project is made possible through collaboration with local partners, including Winamac Town Manager Brad Zellers, Nathan Origer of the Pulaski County Community Development Commission, Charles Mellon Jr. of the Pulaski County Board of Commissioners, and service partners Community Foundation of Pulaski County and PEAK Community Services.