DUBLIN, OHIO — Automotive Properties REIT has acquired a Tesla-occupied collision center in the Columbus suburb of Dublin for $17.8 million. The property consists of a roughly 94,000-square-foot Tesla collision service center facility on 6.3 acres along a commercial corridor at 5600 Britton Parkway near I-270. The REIT funded the purchase of the asset with cash on hand and by drawing on its revolving credit facilities. The seller was a third party.
CHICAGO RIDGE, ILL. — Eastham Capital has sold Ridgeland Station, an 84-unit apartment community in Chicago Ridge, for $10 million. Eastham acquired the property for the portfolio of Eastham Capital Fund V LP in partnership with Bender Cos. in February 2019. Ridgeland Station marked the first collaboration between Eastham and Bender. To date, the partners have co-invested in nine projects with a 10th in the pipeline. Under Bender’s management, Ridgeland Station maintained strong occupancy levels and was 95 percent leased at the time of disposition. Average rents increased 9.7 percent year over year. The community consists of a mix of one- and two-bedroom units.
ST. PETERS, MO. — General contractor MBG is underway on construction of the first Ignite Medical Resort in the St. Louis area. Located in St. Peters, the project is slated for completion in August. The single-story, 60,000-square-foot facility will feature 69 private rooms and 12 semi-private rooms. With elements of high-end hospitality of a 5-star luxury resort, the development features an advanced care model called “LuxeRehab.” The property will feature a lobby, reception desk, café, large windows, landscaped courtyard, two dining rooms, a full commercial kitchen and salon. Rehabilitation services will deploy the latest technology. In addition, Ignite Medical Resort will feature a mock home with a full kitchen, laundry and bathroom where patients are taught and evaluated on readiness to return to independent living. Ignite Medical Resort operates 25 facilities across six states specializing in short-term rehabilitation for a variety of medical needs. Physical, occupational and speech therapy services are provided seven days a week. The project marks the first in the St. Louis market for developer Leo Brown Group.
DES PLAINES, ILL. — Brown Commercial Group has brokered the sale of a 22,050-square-foot food distribution building in the Chicago suburb of Des Plaines for $2.4 million. The property was customized for food distribution and includes nearly 6,000 square feet of cooler space and 2,530 square feet of walk-in freezer space. Mason Hezner and Candace Scurto of Brown represented the seller, Athos Rawls Road LLC. Joe Karmin of Transwestern represented the buyer, GCB LLC, which plans to use the space for a similar food distribution business.
HOUSTON — EōS Fitness will open a 45,000-square-foot gym at West 8 Shopping Center in northwest Houston. The Dallas-based operator is backfilling a space at 9244 W. Sam Houston Parkway N that was previously occupied by LA Fitness. The opening is slated for 2026. Locally based development and investment firm NewQuest owns the center and represented itself in the lease negotiations.
SEGUIN, TEXAS — Koehler Construction has broken ground on the 9,400-square-foot Lundquist Athletics Center at Texas Lutheran University in Seguin, located northeast of San Antonio. Designed by Pfluger Architects and named after sportscaster and alumnus Verne Lundquist, the facility will feature a weight room and flexible spaces that serve as locker rooms, players’ lounges and team meeting spaces. Completion is slated for the fall.
JERSEY CITY, N.J. — JLL has provided two Freddie Mac loans totaling $81.2 million for the refinancing of Atlas and Starling, two newly constructed apartment complexes totaling 208 units in the Bergen-Lafayette section of Jersey City. Located at 270 Johnston St., Atlas comprises 169 apartments, including 11 affordable units. Starling is located at 66 Monitor St. and offers 39 apartments with three affordable units. Income restrictions for the affordable units were not disclosed. Each property also features two commercial spaces. Thomas Didio, Thomas Didio Jr. and Michael Mataras of JLL originated the loans, both of which carry five-year terms and fixed interest rates. The borrower is New York City-based Alpine Residential, which developed the properties in partnership with local firm Fields Grade.
BEDFORD, MASS. — A joint venture between San Francisco-based Shorenstein Investment Advisors and Boston-based investment firm Tritower has purchased The Xchange, a 480,000-square-foot office and life sciences campus in Bedford, located northwest of Boston. The site of the eight-building development is located along State Route 3 and adjacent to the interchange with State Route 128 and can support future expansion. At the time of sale, The Xchange was 99 percent leased to tenants in industries such as robotics, battery development, diagnostic instruments and advanced materials technology. The seller and sales price were not disclosed.
WILMINGTON, DEL. — D2 Capital Advisors, a Philadelphia-based intermediary, has arranged a $26 million permanent loan for an 80,000-square-foot life sciences building in Wilmington. The building was completed in 2023 as part of the redevelopment of the 164-acre Chestnut Run Innovation & Science Park. The building was fully leased at the time of the loan closing to Prelude Therapeutics, which develops cancer treatment drugs. Jack Cortese, David Frankel and John Lightcap of D2 arranged the loan on behalf of the borrower, Pennsylvania-based developer MRA Group. The direct lender was not disclosed.
NEW YORK CITY — Marcus & Millichap has brokered the $13.8 million sale of a 24-unit apartment complex located in Midtown Manhattan. The property at 640-644 10th Ave. spans 17,932 square feet across three contiguous buildings and includes three commercial spaces. Christopher Dintrone, Joe Koicim and Logan Markley of Marcus & Millichap represented the seller and procured the local buyer, both of which requested anonymity, in the transaction.