Property Type

CrossMarc Services Adds Five New Tenants to Springs Plaza Shopping Center in Longwood, Florida

by John Nelson March 14, 2025

LONGWOOD, FLA.— Winter Park, Fla.-based CrossMarc Services LLC has signed five new tenants to Springs Plaza, a 64,753-square-foot shopping center located roughly 15 miles north of Orlando in Longwood. Among the new tenants are Foxtail Coffee (1,179 square feet), Children’s Art Classes (2,350 square feet), Level Up Pilates (2,365 square feet), 5th Nail Lounge (2,649 square feet) and Turning Point Dance Studio (2,351 square feet). Flavia Kanyago internally represented CrossMarc, as well as Baltimore-based joint venture partner MCB Real Estate, in the lease negotiations. Other tenants at the center — which is now 95 percent leased — include Tijuana Flats, First Watch, Jersey Mike’s Subs, Hurricane Grill & Wings and Woof Gang Bakery & Grooming and a 58,000-square-foot Publix that shadow-anchors the property.

March 14, 2025

Development Multifamily Retail Texas

XAG Group Begins Construction on 326-Unit Multifamily Project in Magnolia, Texas

by Taylor Williams March 14, 2025

MAGNOLIA, TEXAS — Locally based developer XAG Group has broken ground on RASHA at Audubon, a 326-unit multifamily project in Magnolia, a northwestern suburb of Houston. The 20-acre site is located within the 3,000-acre Audubon master-planned development, and the garden-style property will consist of five three-story buildings and two four-story buildings. Information on floor plans was not disclosed, but units will be furnished with stainless steel appliances, quartz countertops, walk-in closets and private balconies. Amenities will include a pool, fitness center, clubroom, lounge, outdoor grilling and dining stations and a dog park. XAG Group will also develop 30,000 square feet of retail space as part of the project, partners on which include The Gonzalez Group, Anchor Construction, Investwell Architects and Identity Architecture. Hall Structured Finance provided the loan for construction of the project, the retail component of which is slated for a fourth-quarter completion. The apartments are expected be complete in late 2026.

March 14, 2025

Acquisitions Retail Texas

Trademark Sells 157,791 SF Waterside Shopping Center in Southwest Fort Worth

by Taylor Williams March 14, 2025

FORT WORTH, TEXAS — Locally based owner-operator Trademark Property Co. has sold Waterside, a 157,791-square-foot shopping center in southwest Fort Worth. Trademark debuted Waterside, the site of which originally served as a recreational facility for General Dynamics (later known as the Lockheed Martin Recreation Association), in 2016. Whole Foods Market anchors the center, which was 98 percent leased at the time of sale. Other tenants include REI, Tricky Fish and First Watch. Chris Gerard, Barry Brown, Erin Lazarus and Andrew Griffin of JLL represented Trademark, which sold the property in partnership with Swift Creek Real Estate Partners LLC, in the transaction. The buyer was The Georgetown Co. LLC.

March 14, 2025

Hospitality Loans Texas

PMZ Realty Capital Arranges $14.5M Loan for Refinancing of Metro Fort Worth Hotel

by Taylor Williams March 14, 2025

HALTOM CITY, TEXAS — PMZ Realty Capital has arranged a $14.5 million loan for the refinancing of the 125-roomHoliday Inn Express & Suites Haltom City-Fort Worth hotel. The hotel, which is located on the northern outskirts of Fort Worth, opened last fall and offers amenities such as an outdoor pool, fitness and business centers, 3,000 square feet of meeting and event space and complimentary breakfast. The borrower and direct lender were not disclosed.

March 14, 2025

Acquisitions California Multifamily Western

American Assets Trust Acquires 192-Unit Multifamily Property in San Diego

by Amy Works March 14, 2025

SAN DIEGO — American Assets Trust has purchased Genesee Park, an apartment community located at 3625 Earnscliff Place in San Diego, from Hess Genesee Park LLC for an undisclosed price. Rachel Parsons, Derreck Ostrzyzek, Mike Murphy, Chris Tresp and Kenji Thomas of CBRE represented the seller in the transaction. Built in 1985, Genesee Park consists of six buildings, each configured with three stories of residential space over one level of gated on-grade garage parking. The community features 192 one-, two- and three-bedroom floor plans, each averaging 1,051 square feet. Units offer an outdoor balcony, oversized windows and ample storage closets. Genesee Park also features a deck area with a pool, spa, lounge seating and outdoor dining tables.

March 14, 2025

MCA-Freeway-Industrial-Park-Riverside-CA

California Industrial Loans Western

Northmarq Arranges $52M in Refinancing for 17-Building Industrial Park in Riverside, California

by Amy Works March 14, 2025

RIVERSIDE, CALIF. — Northmarq, on behalf of MCA Realty, has arranged $52 million in refinancing for MCA Freeway Industrial Park, a 17-building asset totaling 481,201 square feet. Scott Botsford and Joe Giordani of Northmarq’s Newport Beach, Calif., Debt + Equity team secured the refinancing, which was structured on a sub-6 percent fixed-rate, five-year term with partial interest-only payments and substantial cashout. Northmarq originated and will service the loan. The firm sourced the loan through its correspondent life insurance platform. Located at 1600-2060 Chicago Ave. and 1614-1616 Marlborough Ave., MCA Freeway Industrial Park is occupied by 120 tenants. The property offers three dock-high doors, 123 roll-up doors, 962 parking stalls and suite sizes ranging from 1,075 square feet to 23,477 square feet.

March 14, 2025

Colorado Development Industrial Western

VanTrust Enters Colorado Market with 363,955 SF Industrial Development in Monument

by Amy Works March 14, 2025

MONUMENT, COLO. — VanTrust has broken ground for the construction of Falcon Commerce Center, a two-building Class A industrial development in Monument. The buildings offer a total of 363,955 square feet of industrial, warehouse and distribution space. The project is VanTrust’s first venture in the Colorado market. Falcon Commerce Center will include the 249,633-square-foot Building A and 114,322-square-foot Building B. Building A will be the area’s first cross-dock speculative facility, while Building B will feature a rear-load dock. Building B is slated for completion in first-quarter 2026, with Building A scheduled for delivery in second-quarter 2026. VanTrust is partnering with CP Real Estate Capital on the project. Randy Churchill of NAI Highland Commercial and Carmon Hicks of JLL are handling leasing for Falcon Commerce Center.

March 14, 2025

Acquisitions Arizona Industrial Western

BKM Capital Partners Sells 159,304 SF Rose Garden Business Park in Phoenix

by Amy Works March 14, 2025

PHOENIX — Newport Beach, Calif.-based BKM Capital Partners has completed the sale of Rose Garden Business Park, a small-bay industrial park on 10.2 acres in Phoenix. An undisclosed affiliate of BKM Capital Partners acquired the asset for $35.1 million. Located at 1801-1831 W. Rose Garden Lane and 20801-20823 N. 19th Ave., the property consists of nine buildings offering a total of 159,304 square feet of industrial space. Originally built in 1987, Rose Garden Business Park features 18-foot clear heights, 43 grade-level doors and 16 dock doors. At the time of sale, the property was fully leased. Bob Buckley and Tracy Cartledge of Cushman & Wakefield, in collaboration with Will Strong, Michael Matchett, Molly Hunt, Jack Stamets and Madeline Warren of Cushman & Wakefield’s National Industrial Advisory Group – Mountain West, represented the seller in the deal.

March 14, 2025

Acquisitions California Industrial Western

Marcus & Millichap Brokers Sale of 50,000 SF Industrial Property in Los Angeles

by Amy Works March 14, 2025

LOS ANGELES — Marcus & Millichap has arranged the purchase of an industrial building located at 21300 Vanowen St. in Los Angeles. The asset traded for $16.3 million. Adam Abushagur, Ari Greene and Joshua Cohan of Marcus & Millichap represented the buyer, a limited liability company, in the deal. Situated on 2.4 acres, the single-tenant, 50,000-square-foot distribution center offers 16-foot clearances and 11 dock-high and grade-level doors. At the time of sale, the property was occupied by a FedEx Ship Center on a triple-net lease at market rate.

March 14, 2025

Development Illinois Industrial Midwest

Dermody to Build 460,428 SF Logistics Facility in Romeoville, Illinois

by Kristin Harlow March 14, 2025

ROMEOVILLE, ILL. — Dermody has acquired land at 251 S. Pinnacle Drive in the Chicago suburb of Romeoville with plans to build LogistiCenter at Romeoville, a 460,428-square-foot logistics facility. Construction will begin this spring, with completion slated for the first quarter of 2026. The site is near I-55, I-355, I-80, I-294 and Illinois Route 53. It is also in close proximity to the Union Pacific Joliet Intermodal Terminal and BNSF Logistics Park, Chicago. The project will feature a 3,000-square-foot spec office, clear height of 40 feet, 51 exterior dock-high doors, four drive-in doors, 160 parking stalls, up to 141 trailer spaces, ESFR fire protection and LED lighting. The divisible facility will be able to accommodate a wide variety of uses, including advanced manufacturing, e-commerce fulfillment, distribution and warehousing. John Whitehead and Adam Roth of NAI Hiffman represented Dermody in the transaction.

March 14, 2025

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