LAS VEGAS — Avison Young has arranged the purchase of Edmond Russell Triangle, an industrial property in Las Vegas. A California-based private investor acquired the asset from a local development group for $12.5 million, or $249.50 per square foot, in an off-market transaction. Loomis U.S. fully occupies the 50,100-square-foot building, which is located at 5780 Edmond St. Chris Lexis, James Griffis and Joe Leavitt of Avison Young represented the buyer in the transaction.
WARREN, N.J. — Locally based investment firm Accordia has purchased a three-building, 57,000-square-foot healthcare property in the Northern New Jersey community of Warren. Warren Medical Campus has been a part of Accordia’s portfolio in some form since the firm’s inception in 2005. Accordia purchased the property four months into its founding, owned it until 2015 and continued to manage the property post-sale. Now, as owners for the second time, the firm is making capital improvements to the complex, including updated corridors and doors, renovated common areas, a new courtyard and new signage. The seller and sales price were not disclosed.
DENVER — Malman Commercial Real Estate has arranged the sale of 1135 E. Evans Ave. and 2085 S. Downing St. in Denver. Mazon Evans LLC acquired the assets from Downing & Evans LLP for $1 million. The asset offers 6,700 square feet of retail space. Jake Malman of Malman Commercial represented the buyer, while Mark Pyms of Panorama Commercial Brokerage represented the seller in the deal.
HOBOKEN, N.J. — Advance Realty Investors has broken ground on a 52-unit multifamily project in Hoboken. The site at the intersection of 14th Street and Willow Avenue formerly housed a Hertz car rental depot. The new building will feature studio, one-, two- and three-bedroom units that will have an average size of 903 square feet, with five residences to be set aside as affordable housing. Amenities will include a lobby lounge, fitness center, coworking space, landscaped terrace and a rooftop deck equipped with barbeque grilling stations. The building will also house 6,800 square feet of retail space. Completion is slated for the third quarter of 2026.
FISHERS, IND. — Thompson Thrift has opened Fishers Event Center, a 7,500-seat arena within The Crossing at Fishers District in the Indianapolis suburb of Fishers. The venue will serve as a home to three professional sports teams — Indy Fuel Hockey Club of the ECHL, Indy Ignite of the Professional Volleyball Federation and Fishers Freight of the Indoor Football League. The arena will also host a variety of community events and concerts. The event center marks a $200 million investment by the city within Thompson Thrift’s $750 million Fishers District mixed-use development. Once completed, the 123-acre project will incorporate multifamily, townhome, hotel, office, dining, shopping and entertainment offerings. Thompson Thrift is actively leasing space for The Union at Fishers District, another phase expected to break ground in the first quarter of 2025. The Union will feature 57,000 square feet of retail, restaurant and entertainment space, 251 luxury apartment homes, 135 luxury boutique hotel rooms and 70,000 square feet of Class A office space. Thompson Thrift first began work on the Fishers District development in 2015.
CHICAGO AND MILWAUKEE — Berkadia has arranged the sale of three upscale senior living communities offering assisted living and memory care services in the Chicago and Milwaukee metropolitan areas. Heartis of Orland Park in suburban Chicago features 96 assisted living and memory care units. Opened in 2018, the property is the newest majority assisted living community in the Southwest Cook County submarket. Heartis Village Brookfield and Heartis Village North Shore, located in Brookfield and Glendale, Wis., opened in 2019 and total 210 assisted living and memory care units. Ross Sanders, Dave Fasano, Cody Tremper and Mike Garbers of Berkadia arranged the sale on behalf of the seller, a joint venture between Dallas-based Caddis Partners and a private equity real estate fund. A publicly traded REIT was the buyer.
CHICAGO — Summit Design + Build has broken ground on 537 W. Drummond, a seven-story apartment building with 84 market-rate units in Chicago’s Lincoln Park neighborhood. The 80-foot-tall development will feature a fitness room, conference and coworking spaces, 84 bike parking spaces and 52 car parking spaces. The project site is the historic Covent Theater, which was situated behind the Covent Hotel. Moyer Properties is the developer, ParkFowler Plus is the architect, Catapult Real Estate Solutions is the owner’s representative, Cross Street is the broker and Principal Asset Management provided construction financing. A timeline for completion was not provided.
DEKALB, ILL. — Quantum Real Estate Advisors Inc. has brokered the sale of a 57,832-square-foot retail center in DeKalb for an undisclosed price. The center was 63 percent leased at the time of sale to tenants such as Ollie’s, GNC and Little Caesars. Dan Waszak, Zack Hilgendorf and Nick Hilgendorf of Quantum represented the seller, GW Properties. The buyer was a private group based out of Miami.
JANESVILLE, WIS. — Marcus & Millichap has negotiated the $2.3 million sale of Interstate Secure Storage, a 233-unit self-storage facility in the Milwaukee suburb of Janesville. Built in 2015, the property totals 44,250 rentable square feet. There are expansion plans for two additional buildings totaling 25,950 square feet. Dan Bowar of Marcus & Millichap represented the buyer, Hastings Property Group LLC. The seller was undisclosed.
WATCHUNG AND MIDDLESEX, N.J. — Planet Fitness will open two new gyms totaling 37,350 square feet in Central New Jersey. The New Hampshire-based chain has committed to a 21,850-square-foot space at the 420,000-square-foot Blue Star Shopping Center in Watchung and a 15,500-square-foot space formerly occupied by ACME Supermarket at Middlesex Corner. E.J. Moawad of Levin Management Corp. represented the landlord in the Watchung deal, and Jack Chera of RIPCO Real Estate represented the tenant. Levin’s Ed Vasconcellos III acted as the landlord representative in the Middlesex deal, with Raymond Villafana of Franchise Realty representing Planet Fitness.