Sunday, July 20, 2025
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ArizonaRetailWestern

Triumph Real Estate Acquires Two Shopping Centers in Metro Phoenix for $7M

by Nellie Day

SURPRISE AND GLENDALE, ARIZ. — Canada-based Triumph Real Estate Investment Fund has acquired two shopping centers in metro Phoenix for $7 million. Acquisitions include the $4 million purchase of Triumph Bell West Ranch, a 20,225-square foot-shopping center located in Surprise; and the $3 million purchase of Triumph Glendale Crossing, a 10,595-square-foot retail center located in Glendale. Jon Rosenberg and Keri Davies of Levrose Commercial Real Estate/TCN Worldwide represented the buyer in the acquisition of Triumph Bell West Ranch from PWREO Bell & 303 LLC, and Triumph Glendale Crossing from Lawrence and Geyser. Danielle Davis of Levrose Commercial Real Estate/TCN Worldwide will handle leasing, and MODE Commercial Property Management has been selected to manage the properties.

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MultifamilyNew YorkNortheast

Clipper Realty to Acquire Apartment Property in Brooklyn for $87.5M

by Amy Works

NEW YORK CITY — Clipper Realty has entered into an agreement to acquire a residential property located at 107 Columbia Heights in Brooklyn. The Jehovah’s Witnesses is selling the apartment property for $87.5 million, or $569 per square foot. The 154,000-square-foot property features 161 apartment units. The buyer plans to create 12 additional units by converting various public spaces on the property. The acquisition is expected to close in May.

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Cast-Iron-Lofts-Jersey-City-NJ
LoansMultifamilyNew JerseyNortheast

KeyBank Originates $62M Loan for 232-Unit Apartment Community in Jersey City

by Amy Works

JERSEY CITY, N.J. — KeyBank Real Estate Capital has originated a $62 million first mortgage loan for Cast Iron Lofts Phase II in Jersey City. The name of the borrower was not released. The 26-story apartment community features 232 units. Tom Peloquin of KeyBank’s commercial mortgage group arranged the financing through a correspondent life company relationship.

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2819-JFK-Blvd-North-Bergen-NJ
New JerseyNortheastRetail

Cushman & Wakefield Arranges $19M Sale of Shopping Center in North Bergen, New Jersey

by Amy Works

NORTH BERGEN, N.J. — Cushman & Wakefield has brokered the sale of a shopping center located at 2819 JFK Blvd. in North Bergen. A 1031 exchange buyer acquired the asset from an undisclosed joint venture partnership for $19 million. Aldi and Crunch Fitness anchor the 41,000-square-foot property, which was redeveloped in 2015. The center also includes a freestanding Sonic restaurant. Brian Whitmer, Andrew Merin, David Bernhaut, Gary Gabriel, Seth Pollack and Nick Karali of Cushman & Wakefield represented the seller and procured the buyer in the deal.

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4-World-Trade-Center-NYC
New YorkNortheastOffice

Spotify Relocates to 378,000 SF of Office Space at 4 World Trade Center in Lower Manhattan

by Amy Works

NEW YORK CITY — Spotify, a digital music service, is relocating its U.S. headquarters to 4 World Trade Center in Lower Manhattan from its current location in Midtown South. The company will occupy 378,000 square feet at the office building, which is owned by Silverstein Properties. Spotify is expected to move in early 2018. The relocation and expansion will accommodate more than 1,000 new jobs as well as 832 existing jobs.

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MultifamilyNew JerseyNortheast

Marcus & Millichap Brokers $1M Sale of Apartment Building in Union City, New Jersey

by Amy Works

UNION CITY, N.J. — Marcus & Millichap has arranged the sale of a multifamily building located at 4322 Kennedy Blvd. in Union City. A developer acquired the seven-unit property for $1 million. Jonathan Zamora of Marcus & Millichap represented the seller, a private investor, and the buyer in the transaction.

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Forum-Denton-Station-Denton-TX
MultifamilyStudent HousingTexas

Arrimus Capital Acquires 1,044-Bed Student Housing Property at the University of North Texas

by Amy Works

DENTON, TEXAS — Newport Beach, Calif.-based Arrimus Capital has purchased Forum at Denton Station, a student housing property located at 201 Inman St. near the University of North Texas in Denton. Boca Raton, Fla.-based Parkland Development sold the purpose-built property for an undisclosed price. The 420,684-square-foot development features 14 three-story buildings offering a total of 348 units, or 1,044 beds. The units are available in one-, two-, three- and four-bedroom layouts and are fully furnished. On-site amenities include a pool with a deck lounge, sand volleyball courts, indoor sports court, outdoor grilling and picnic areas and a 24-hour fitness center. Jaclyn Fitts and Casey Schaefer of CBRE represented the buyer and seller in the deal.

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RetailTexas

Signorelli Begins Construction on Second Phase of Valley Ranch Town Center in New Caney

by Amy Works

NEW CANEY, TEXAS — Signorelli Co. has started construction for the second phase of Valley Town Center, located at 11985 N. Grand Parkway East in New Caney. Slated to open in late 2017, the Phase II will bring 320,000 square feet of retail space to the 1.5 million-square-foot master-planned development. T.J. Maxx, Ross Dress for Less, Rack Room Shoes and PetSmart have preleased space at the new phase. Additionally, Cinemark Theatres is developing a NextGen all-recliner theater at the property. The 10-screen theater will be the first anchor for Valley Ranch Town Center Entertainment District.

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Neilson-Square-Enid-OK
OklahomaRetailTexas

CBRE Facilitates Sale of 67,837 SF Retail Property in Enid, Oklahoma

by Amy Works

ENID, OKLA. — CBRE has arranged the sale of Neilson Square, a shopping center located at 3322-3518 E. Owen K Garriott Road in Enid. Dallas-based Dunhill Partners acquired the 67,837-square-foot property from Louisville, Colo.-based IPS Neilson Square LLC for an undisclosed price. Anchored by Staples and Old Navy, the property was 94 percent occupied at the time of sale. Jason Little and Justin Brannon of CBRE represented the seller, while Basel Bataineh, also of CBRE, assisted with financial analysis and underwriting services for the transaction.

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HospitalityTexas

Shinn-Addison Hospitality Opens 132-Room Home2 Suites by Hilton in Metro Dallas

by Amy Works

ADDISON, TEXAS — Shinn-Addison Hospitality has opened Home2 Suites by Hilton Dallas Addison, located at 4875 Belt Line Road in Addison. The hotel features 132 suites with fully equipped kitchens and modular furniture, complimentary internet, community spaces, laundry and fitness facilities, a grab-and-go market, outdoor pool, fire pit and barbecue area. Magnolia Lodging manages the property.

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