Friday, July 25, 2025
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HospitalityWashingtonWestern

Hersha Hospitality Trust Purchases Pan Pacific Hotel in Seattle for $79M

by Nellie Day

SEATTLE — Hersha Hospitality Trust has acquired the 152-room Pan Pacific Hotel in Seattle for $79 million. The hotel is part of the 2200 Westlake mixed-use project in the South Lake Union neighborhood. Pan Pacific Hotel is situated across the street from Amazon’s global headquarters. Other nearby companies include Facebook, Google, Expedia, Microsoft and the Bill & Melinda Gates Foundation. Chris Burdett and Matthew Behrens of CBRE Hotels Northwest represented the seller, Vulcan, in this transaction.

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ColoradoMultifamilyWestern

BMC Investments Buys Landon Park Apartments in Aurora

by Nellie Day

AURORA, COLO. — BMC Investments has acquired the 464-unit Landon Park Apartments in Aurora for an undisclosed sum. The community is located at 100 S. Sable Blvd. Landon Park was built in 1978. It is situated one mile from the Aurora Metro Center light rail station, which provides access to Denver Tech Center, Fitzsimons Life Science District, the Stapleton Redevelopment and Denver International Airport. Terrance Hunt, Shane Ozment, Jeff Hawks and Doug Andrews of ARA Newmark represented seller, Bridge Investment Group, in this transaction.

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CaliforniaRetailWestern

Marcus & Millichap Brokers $2.4M Sale of Chevron Property in Bakersfield

by Nellie Day

BAKERSFIELD, CALIF. — Marcus & Millichap has brokered the sale of a Chevron-occupied retail property located at 2525 White Lane in Bakersfield. A private investor acquired the property and bulk inventory assets for a total price of $2.4 million, with the real estate selling for $1.8 million. Bennet Pakdaman, Gregory Mills and Bruce Barnhard of Marcus & Millichap represented the seller, while Barnhard and Mills represented the buyer in the deal.

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CaliforniaRetailWestern

Retail California Arranges 1,360 SF Dollar Tree Lease in Clovis

by Nellie Day

CLOVIS, CALIF. — Retail California has brokered a lease of retail space at the Trading Post Shopping Center at 930 Herndon Ave. in Clovis. Dollar Tree signed a lease for 1,360 square feet of retail space from DN Clovis LLC at the shopping center. Peter Orlando and Lewis Smith of Retail California brokered the transaction.

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11-Stanwix-St-Pittsburgh-PA
NortheastOfficePennsylvania

M&J Wilkow, DRA Advisors Acquire 467,843 SF Office Tower in Pittsburgh

by Amy Works

PITTSBURGH — M&J Wilkow, in a joint venture partnership with DRA Advisors, has acquired 11 Stanwix Street, an office tower located on the southwest edge of Pittsburgh’s Golden Triangle. The 24-story tower features 467,843 square feet of Class A office space. Commonwealth of Pennsylvania, KeyBank and HDR Engineering, among others, currently occupy the building. M&J Wilkow Properties will serve as the building’s manager, while JLL will represent the new ownership for all leasing activity. The name of the seller and acquisition price were not released.

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New JerseyNortheastOffice

American Water Works Breaks Ground on New Headquarters in Camden, New Jersey

by Amy Works

CAMDEN, N.J. — American Water Works Co. has broken ground for the company’s new headquarters at One Water Street at the master planned Camden Waterfront in Camden. Slated for completion in late 2018, the five-story, 220,000-square-foot property will house more than 600 employees, consolidating four locations in Southern New Jersey. Robert A.M. Stern Architects is serving as architect, while Gensler is designing the interior of the building. Liberty Property Trust is developing Camden Waterfront, a mixed-use neighborhood.

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ConnecticutLoansMultifamilyNortheast

Dwight Capital Originates $13.2M Loan for Apartment Community in Stamford, Connecticut

by Amy Works

STAMFORD, CONN. — Dwight Capital has arranged $13.2 million in refinancing for Westwood Apartments, located at 1-20 Westwood Drive in Stamford. The borrower was 58 Progress Drive LP. The community features 95 apartment units. Josh Hoffman, Andrew Nicoll, Matt Boyd and Brandon Baksh of Dwight Capital secured the financing for the borrower. Reno & Cavanaugh served as legal counsel for the financing transaction.

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Maplewood-Manor-Ballston-Spa-NY
MultifamilyNew YorkNortheastSeniors Housing

Marcus & Millichap Arranges Sale of 277-Bed Seniors Housing Property in Ballston Spa, New York

by Amy Works

BALLSTON SPA, N.Y. — Marcus & Millichap has brokered the sale of Maplewood Manor, a skilled nursing facility located in Ballston Spa. At the time of sale, the 277-bed facility was 95 percent occupied. The facility was constructed in 1972, with additions in 1978 and 1979. Joshua Jandris, Mark Myers and Charles Hilding of Marcus & Millichap represented the seller, a New York county, and procured the buyer, a private investor with an operator tenant, in the deal. J.D. Parker of Marcus & Millichap is the broker of record in New York.

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ConnecticutNortheastRetail

Press/Cuozzo Brokers Sale of Two-Building Retail Asset in Milford, Connecticut

by Amy Works

MILFORD, CONN. — Press/Cuozzo Commercial Services has arranged the sale of two contiguous retail sites located on Boston Post Road in Milford. Shemitz Associates LP sold the assets to 1501 Boston Post Road LLC for $1.5 million. Totaling 1.6 acres, the 1469 Boston Post Road consists of a 9,000-square-foot retail building and 1501 Boston Post Road features a two-story, 10,440-square-foot retail and office building. Press/Cuozzo represented the seller and procured the buyer in the deal.

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RetailTexas

Plano-Based JCPenney to Close Up to 140 Stores, Two Distribution Centers

by Taylor Williams

PLANO, TEXAS — Retail giant J.C. Penney Co. Inc. has announced plans to close 130 to 140 stores, as well as a distribution center in Lakeland, Fla., over the next several months. The company is also in the process of selling its supply chain facility in Buena Park, Calif. The total store closures represent between 13 and 14 percent of the company’s current store portfolio. A list of locations to be shut down will be released in mid-March.

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