Property Type

New Tenants Open at Crocker Park Lifestyle Center in Westlake, Ohio

by Kristin Harlow March 12, 2025

WESTLAKE, OHIO — New tenants are opening and existing tenants are expanding at Crocker Park lifestyle center in Westlake, a western suburb of Cleveland. New tenants include Color Me Mine, Garage, Océanne, State & Liberty, Ten Seconds Yunnan Rice Noodle, Tradehome Shoes and Vera Bradley. Arhaus and Lucky Shoes are relocating to larger spaces. Additionally, CPL Architecture, Engineering & Planning will soon open an office, and Palmer Holland is expanding its footprint, now occupying a ground-floor space in addition to its third-floor office space. Crocker Park features more than 4.5 million square feet with over 130 local and national retailers and dining options as well as office buildings, luxury apartments and an event venue. Cleveland-based Stark Enterprises is the owner.

March 12, 2025

Florida Loans Multifamily Southeast

Northmarq Arranges $59M Refinancing of Old Town Square Apartments in Pompano Beach, Florida

by John Nelson March 12, 2025

POMPANO BEACH, FLA. — Northmarq has arranged a $59 million loan for the refinancing of Old Town Square, a 281-unit midrise apartment community located at 200 N.E. 1st Ave. in Pompano Beach. David Gahagan, Chris Hammel and Chandler Kaye of Northmarq’s West Palm Beach office arranged the loan through an unnamed life insurance company on behalf of the borrower, Adache Real Estate. The bridge loan was underwritten with a three-year term, interest-only payments and extension options. Completed in 2024, Old Town Square features studio, one- and two-bedroom apartments, as well as a resort-style swimming pool, hot tub, summer kitchen with barbecue grills, gaming deck, 24/7 fitness center, sauna, coworking lab, community bicycles, onsite mini market, 24/7 property management and a dog run. The City of Pompano Beach provided a TIF financing to Adache as an economic incentive for the development of Old Town Square, according to Northmarq.

March 12, 2025

Acquisitions Michigan Midwest Retail

Marcus & Millichap Brokers $5.5M Sale of Retail Center in Spring Arbor, Michigan

by Kristin Harlow March 12, 2025

SPRING ARBOR, MICH. — Marcus & Millichap has brokered the $5.5 million sale of Village Crossing, a 17-suite retail center in Spring Arbor, about 46 miles west of Ann Arbor. The multi-tenant property totals 53,900 square feet and is situated on Spring Arbor Road. The asset consists of two buildings that are 94.4 percent leased. The anchor tenant is Henry Ford Health, which recently extended its lease for five years with annual rent increases. Darin Gross, Seth Haron and Ashish Vakhariya of Marcus & Millichap represented the seller and procured the buyer. The deal closed at 97.3 percent of the asking price.

March 12, 2025

Acquisitions Midwest Office Wisconsin

NAI Pfefferle Negotiates Sale of 14,185 SF Office Building in Appleton, Wisconsin

by Kristin Harlow March 12, 2025

APPLETON, WIS. — NAI Pfefferle has negotiated the sale of a 14,185-square-foot office building in Appleton. The sales price was not disclosed, but the asking price was $2.2 million. Elizabeth Ringgold and Jonathan Glassco of NAI Pfefferle negotiated the sale. Buyer and seller information was not provided.

March 12, 2025

Colorado Development Loans Multifamily Western

First Stone Development Receives $15.8M in Construction Financing for Multifamily Project in Denver

by Amy Works March 12, 2025

DENVER — First Stone Development has received $15.8 million in financing for the construction of The Jasper, a multifamily property at 4353 Tennyson St. in Denver. Phillip Gause and Jim Wilkins of Marcus & Millichap Capital Corp.’s Denver office secured $2 million in preferred equity and $13.8 million in debt for the borrower. The construction loan was placed with a debt fund and features a two-year term. Situated in Denver’s Berkeley neighborhood, The Jasper will offer 34 apartments and 2,700 square feet of street-level retail space.

March 12, 2025

Acquisitions Industrial Nevada Western

Intersection Equities, Sundance Bay Buy 48,304 SF Valley View Industrial Facility in Las Vegas

by Amy Works March 12, 2025

LAS VEGAS — Intersection Equities, in partnership with Sundance Bay, has acquired Valley View Industrial, a multi-tenant flex industrial asset in Las Vegas, from Sanders Wyoming Trust. The transaction was valued at $8.7 million, or $181 per square foot. Erik Sexton and Camila Rosales of NAI Excel represented the buyer in the deal. Located at 5325 S. Valley View Blvd., Valley View Industrial consists of a 48,304-square-foot facility offering nine warehouse/office units ranging from 1,000 square feet to 28,000 square feet. The property features 14- to 18-foot clear heights and 11 grade-level doors. The ownership plans to implement a series of capital improvements to elevate the property to an institutional-quality asset. Planned renovations include a façade upgrade, new exterior paint and parking lot seal-and-stripe enhancements to improve curb appeal and long-term asset value.

March 12, 2025

Acquisitions North Carolina Retail Southeast

Matthews Negotiates Sale of 40,733 SF Retail Center in Fayetteville, North Carolina

by John Nelson March 12, 2025

FAYETTEVILLE, N.C. — Matthews Real Estate Investment Services has negotiated the sale of The District at Freedom Town Center, a 40,733-square-foot retail center located at 2707-2737 Freedom Parkway Drive in Fayetteville. The buyer, an affiliate of Serota Properties doing business as Serota Islip NC II LLC, purchased the property from Greenville, S.C.-based developer RealtyLink for an undisclosed price. Kyle Stonis, Pierce Mayson and Boris Shilkrot of Matthews brokered the transaction. The District at Freedom Town Center is adjacent to Phases I and II of the adjacent Freedom Town Center that includes tenants including Sprouts Farmers Market, HomeGoods, Hobby Lobby, Dick’s Sporting Goods, Burke’s Outlet, Five Below, World Market, DSW and Petco.

March 12, 2025

Acquisitions Hawaii Industrial Self-Storage Western

Marcus & Millichap Arranges Sale of StorQuest Self-Storage Facility in Kea’au, Hawaii

by Amy Works March 12, 2025

KEA’AU, HAWAII — The LeClaire-Schlosser Group of Marcus & Millichap has arranged the sale of a StorQuest-managed self-storage facility located at 16-180 Mikahala Place in Kea’au. Dallas-based Baranof Holdings acquired the asset from a Hawaii-based limited liability company for an undisclosed price. StorQuest Self Storage offers 879 units spread across 77,363 net rentable square feet. Charles LeClaire and Adam Schlosser of Marcus & Millichap’s Denver office represented the seller and the buyer in the deal. Adam Attia of Marcus & Millichap served as broker of record for the transaction.

March 12, 2025

Leasing Activity North Carolina Office Southeast

Foundry Commercial Facilitates 31,392 SF Office Lease in Charlotte

by John Nelson March 12, 2025

CHARLOTTE, N.C. — Foundry Commercial has facilitated a 31,392-square-foot office lease at The Edison, a new 125,000-square-foot office building located in Charlotte’s Airport submarket. The tenant, the National Board of Examiners in Optometry (NBEO), plans to move into its new headquarters space this summer. Meredith Ball, Karah Tanneberger and Eliza Gordon of Foundry represented the unnamed landlord in the lease negotiations. Brian Brtalik and Mike Dempsey, also with Foundry, represented NBEO. The new lease brings The Edison to 75 percent occupancy. Amenities at the office building include a high-end fitness facility, outdoor space with a food truck program and ample onsite parking.

March 12, 2025

Acquisitions Multifamily Washington Western

Kidder Mathews Negotiates $3.3M Sale of Riverton View Apartments in Tukwila, Washington

by Amy Works March 12, 2025

TUKWILA, WASH. — Kidder Mathews’ Simon | Anderson Multifamily team represented the undisclosed seller in the disposition of Riverton View Apartments in Tukwila. An undisclosed buyer acquired the asset for $3.3 million, or $139,167 per unit. Located at 3455 S. 144th St., Riverton View Apartments offers 24 residences. The value-add property was built in 1963. Dylan Simon and JD Fuller of Kidder Mathews’ Simon | Anderson Multifamily handled the transaction.

March 12, 2025

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