Property Type

Grossman Development Signs Eight New Tenants to Join $100M Gallatin Valley Mall Redevelopment Project in Bozeman, Montana

by Amy Works June 4, 2025

BOZEMAN, MONT. — Grossman Development Group has signed eight new tenants to join Gallatin Valley Mall, a 315,000-square-foot regional shopping center undergoing redevelopment in Bozeman. New retailers at the $100 million multi-phase project, which will be called Gallatin Crossing, include Arhaus, lululemon, Pandora, Sephora, Anthropologie, Free People, Lovesac and Madewell. The mixed-use project’s 45,000-square-foot Medical Pavilion, which houses Intermountain Health, Ortho Montana and Gallatin Valley Surgery Center, opened in August 2024, while High Street, an outdoor retail experience, is set to open in summer 2025. Other tenants at the property include Macy’s, Barnes & Noble, Gallatin Valley Cinemas and Whole Foods Market. Additionally, interior upgrades to the existing shopping center include new lighting, carpet and refreshed common areas. Gallatin Mall Group, in partnership with Grossman Development Group, Boston Realty Advisors and The Broadway Co., is leading the project.

June 4, 2025

Arizona Hospitality Loans Walker & Dunlop Western

Walker & Dunlop Arranges $86M Refinancing for Caesars Republic Scottsdale Hotel in Arizona

by Amy Works June 4, 2025

SCOTTSDALE, ARIZ. — Walker & Dunlop has arranged an $86 million loan to refinance the Caesars Republic Scottsdale, a Hilton Hotel. Walker & Dunlop Arizona Capital Markets, led by Jim Pierson and Keaton Merrell, partnered with Walker & Dunlop New York Capital Markets, led by Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Dustin Stolly, Ari Hirt and Christopher de Raet, to arrange the loan as an exclusive advisor to HCW Development. A regional bank provided the financing. Jay Morrow and Carter Gradwell of Walker & Dunlop Hospitality guided HCW throughout the process, working in collaboration with the capital markets teams. Opened in March 2024, the 11-story hotel offers 265 guest rooms, including five exclusive top-floor penthouse suites with panoramic views, outdoor terraces and full kitchens, alongside 28 luxury suites. Amenities include three restaurants, two pools and more than 20,000 square feet of event space, including a 7,000-square-foot ballroom that opens to Cleopatra’s Pool & Bar and the 3,000-square-foot Camelback Veranda and several conference rooms. Caesars Republic Scottsdale is the first non-gaming hotel by Caesars Entertainment in the United States and represents a partnership between Caesars Entertainment, Hilton Hotels and HCW.

June 4, 2025

Colorado Development Multifamily Western

Garrett Cos. Breaks Ground on 163-Unit Multifamily Property in Colorado Springs

by Amy Works June 4, 2025

COLORADO SPRINGS, COLO. — The Garrett Cos., as developer and contractor, has begun construction on a multifamily development in Colorado Springs. Ware Malcomb’s Denver and Chicago offices are providing architecture and civil engineering services for the project. Situated on 7.2 acres at the intersection of Barnes Road and Rio Vista Street, the garden-style property will offer 163 apartments in a mix of one-, two- and three-bedroom layouts. Each unit will have a full-sized washer/dryer. Community amenities will include a resort-style pool and spa with cabanas, a fitness center, dog park, clubhouse with lounge, billiards and arcade games and coworking and private office spaces.

June 4, 2025

Acquisitions Industrial Washington Western

Marcus & Millichap Brokers Sale of 31,000 SF Industrial Property in Woodinville, Washington

by Amy Works June 4, 2025

WOODINVILLE, WASH. — Marcus & Millichap has arranged the sale of The Junction, an industrial facility in Woodinville. A limited liability company sold the asset to an undisclosed buyer for $10.5 million. Located at 19151 144th Ave. NE, the 31,000-square-foot The Junction is 93 percent leased to a variety of tenants, including fast food, auto care and tasting rooms. John Marks and RJ Vara of Marcus & Millichap’s Seattle office represented the seller in the deal.

June 4, 2025

Acquisitions Life Sciences Massachusetts Northeast

Newmark Brokers Sale of 109,085 SF Life Sciences Building in Burlington, Massachusetts

by Taylor Williams June 4, 2025

BURLINGTON, MASS. — Newmark has brokered the sale of Burlington BioCenter, a 109,085-square-foot life sciences building located on the northwestern outskirts of Boston. Originally completed in 2019 with its interior laboratory build-outs finalized in 2022, the building features high-performance laboratory infrastructure and HVAC systems, a backup power source and dedicated loading areas, as well as a two-story lobby. Robert Griffin, Edward Maher, Matthew Pullen, James Tribble, Samantha Hallowell and William Sleeper of Newmark brokered the deal. The buyer and seller were not disclosed.

June 4, 2025

Development Illinois Midwest Retail

Chicago Blackhawks Reveal Expansion Plans, Renderings for Fifth Third Arena

by Kristin Harlow June 4, 2025

CHICAGO — The NHL’s Chicago Blackhawks have revealed renderings for the forthcoming expansion of Fifth Third Arena. Originally opened in 2017, the facility has been undergoing renovations since May 2024. When complete in January 2026, the venue will boast more than 250,000 square feet of community hockey space and training facilities. The Blackhawks estimate that Fifth Third Arena will welcome more than 1.5 million guests per year and impact economic growth on Chicago’s West Side, solidifying the arena as a destination for youth and amateur hockey alongside new offerings for Blackhawks fans. The arena will connect to the United Center campus’ forthcoming 1901 Project. The facility remains the official training home to the Blackhawks and will also become the permanent home of Chicago Steel, the region’s United States Hockey League that was acquired by Wirtz Corp. in 2023. The expansion will transform Fifth Third Arena from a hockey facility into a versatile venue that can host events of all sizes and year-round programming. Championship Arena, one of the two new rinks, will offer stadium-style seating and hospitality areas for 2,000 spectators. As the future new home of the Chicago Steel, the arena will feature a center scoreboard, video ribbon boards …

June 4, 2025

Development Indiana Midwest Multifamily

Keystone Group to Add 57 Units to $124M Office-to-Residential Conversion Project in Indianapolis

by Kristin Harlow June 4, 2025

INDIANAPOLIS — Keystone Group is adding 57 new luxury apartments to its $124 million office-to-residential conversion project at 220 Meridian Tower, the former AT&T office located near Monument Circle in Indianapolis. Scheduled for completion in summer 2026, the additional units will range from studios to two-bedroom floor plans. Construction has commenced, following AT&T’s lease that ended on May 31. Plans call for additional outdoor deck amenities, including a dog park, and six units that will feature private patio spaces. With these additions, a total of 273 units will be brought to market. As part of the continued development, 220 Meridian Tower will also welcome Harmony Steakhouse, an Indianapolis-based Japanese-style steakhouse slated to open this month.

June 4, 2025

Development Midwest Minnesota Mixed-Use

Ryan Cos. Breaks Ground on $68M Housing, Retail Components of Highland Bridge Mixed-Use Project in St. Paul

by Kristin Harlow June 4, 2025

ST. PAUL, MINN. — Ryan Cos. US Inc., in partnership with the Housing and Redevelopment Authority (HRA) for the City of St. Paul, has broken ground on new housing and retail components of Highland Bridge, a 122-acre mixed-use development at the former site of Ford Motor Co.’s Twin Cities assembly plant. The $68 million project is expected to be substantially completed by November 2026. The nearly 3-acre site at the intersection of Cretin Avenue and Ford Parkway in the city’s Highland Park neighborhood will feature five buildings. Plans call for a 97-unit multifamily building with 8,500 square feet of ground-floor retail space, three standalone retail buildings totaling 14,000 square feet and a 13,000-square-foot daycare center. The project also includes a two-level parking ramp and pedestrian access. Amenities of the apartment building will include a clubroom, outdoor patio, fitness room, coworking enclaves, a roof deck patio and secured package room. The initiative is a public-private partnership supported by the City of St. Paul and the HRA, which provided tax-increment financing (TIF) from existing TIF district budget savings. Ryan is serving as developer, builder and designer. Completed developments at Highland Bridge include The Collection, a 230-unit apartment building with a flagship Lunds …

June 4, 2025

Acquisitions Illinois Industrial Midwest

Marcus & Millichap Negotiates $13M Sale of Flex Industrial Property in Suburban Chicago

by Kristin Harlow June 4, 2025

ARLINGTON HEIGHTS, ILL. — Marcus & Millichap has negotiated the $13 million sale of a 111,667-square-foot flex industrial property in the Chicago suburb of Arlington Heights. Built in 1990, the facility at 545 E. Algonquin Road is fully leased to two long-term tenants. Intertek Testing Services, a global product testing and certification firm, occupies 85 percent of the space and has been a tenant since 2004. GigeNET, a provider of dedicated cloud, hybrid and colocation hosting solutions, occupies the remaining space and has operated at the facility since 2006. Peter Doughty of Marcus & Millichap represented the seller, a private investor. The undisclosed buyer purchased the property at the full list price.

June 4, 2025

Acquisitions Michigan Midwest Retail

Friedman Brokers $3.9M Sale of Former First Independence Bank Building in Detroit

by Kristin Harlow June 4, 2025

DETROIT — Friedman Real Estate has brokered the $3.9 million sale of the former First Independence Bank building located at 100 Michigan Ave. in Detroit. The retail building totals 20,756 square feet. Andrew Bower, Steve Eisenshtadt and Peter Jankowski of Friedman represented the seller. Buyer and seller information was not released.

June 4, 2025

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