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4900-Cecilia-St-Cudahy-CA
CaliforniaDevelopmentIndustrialWestern

Stream Realty Partners Secures Entitlements for 100,000 SF Central LA Commerce Center Development

by Amy Works

CUDAHY, CALIF. — Stream Realty Partners has secured project entitlements for Central LA Commerce Center, a Class A light industrial development located at 4900 Cecilia St. in Cudahy, a suburb 11 miles southeast of Los Angeles. The project will transform a functionally obsolete 1950s-era manufacturing building into a LEED-certified light industrial development. The 100,000-square-foot property will feature a clear height of 36 feet, 5,000 square feet of speculative two-story office space, 11 dock-high doors and two drive-in doors. Additionally, the asset will include a fully secured truck court, independent ingress and egress for autos and trucks, and heavy base building power to meet the needs of modern light industrial tenants. Stream’s Industrial Development team for Central LA Commerce Center includes Nick Kreuter, Andrew Warren and Scott Sowanick, who will collaborate with the brokerage team led by Matt Moore and Wes Hunnicutt.

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AcquisitionsArizonaMultifamilyWestern

Providence Property Group Buys Tropicana Apartments in Tucson, Arizona for $1.7M

by Amy Works

TUCSON, ARIZ. — Providence Property Group has purchased Tropicana Apartments, a multifamily complex in Tucson, from TropicanaApartments LLC for $1.7 million. Located at 3815-3816 E. 3rd St., the 8,650-square-foot asset offers 14 units. Allan Mendelsberg and Joey Martinez of Cushman & Wakefield | PICOR represented both parties in the transaction.

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LoansMidwestMultifamilyOhio

ACRES Provides $72.5M Loan for Refinancing of Apartment Complex in Columbus

by Kristin Harlow

COLUMBUS, OHIO — ACRES Capital Corp. has provided a $72.5 million bridge loan for the refinancing of 4th & 5th Apartments, a 311-unit apartment complex in Columbus. The Class A property features a 557-space parking garage and two retail suites totaling 5,492 square feet. Amenities include a clubhouse, courtyard, fitness center, rooftop area and swimming pool. The community is located on the southern edge of the city’s Weinland Park neighborhood, which is directly east of the Short North Arts District. Loan terms and the borrower were not provided.

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DevelopmentIndianaIndustrialMidwest

Ambrose Breaks Ground on 248,000 SF Building at Indianapolis Logistics Park – Northwest

by Kristin Harlow

WHITESTOWN, IND. — Ambrose has broken ground on Building IV, a speculative industrial building totaling 248,000 square feet at Indianapolis Logistics Park – Northwest in Whitestown. The building marks the last planned development within the industrial park and is slated for completion in December. Building II was completed in April, and the balance of the building — 145,568 square feet — was recently leased to a confidential user. Kattsafe North America, a provider of innovative safety and security solutions, moved into its 93,871-square-foot headquarters in Building II. The 233,000-square-foot Building III is available for lease. Construction continues on Building I, a 601,000-square-foot build-to-suit for Safavieh, a global home furnishings company. The general contractor for all four buildings is Compass Commercial Construction Group. Design partners include Curran Architecture and Kimley-Horn. CBRE is the leasing agent. Ambrose partnered with Horizon Bank on the construction financing for Buildings II and IV. Total investment in the park exceeds $120 million.

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AcquisitionsIllinoisMidwestRetail

Marcus & Millichap Brokers Sale of Two-Tenant Retail Property in Chicago’s South Loop

by Kristin Harlow

CHICAGO — Marcus & Millichap has brokered the sale of 1160 S. Michigan Ave., a two-tenant, ground-floor retail property in Chicago. Located at the base of The Columbian, a 47-story residential tower, the fully leased property is home to Burger Bar Chicago and Elements Massage. The two tenants have been in place for over a decade and recently extended their leases. Mitchell Kiven and Nicholas Kanich of Marcus & Millichap represented the seller, a limited liability company. Kiven and Kanich procured the buyer, Zam Investment LLC, along with colleague Carson Dodge.

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Leasing ActivityMidwestOhioRetail

Eight New Retailers to Open at Easton Town Center in Columbus

by Kristin Harlow

COLUMBUS, OHIO — Eight new retailers with a focus on men’s fashion are opening soon at Easton Town Center, which is home to more than 250 fashion, dining and entertainment offerings in Columbus. Now open is Allen Edmonds, a U.S.-based manufacturer of premium men’s footwear and accessories. The Madewell store is now offering Madewell Men’s. Coming soon to the property are first-in-Ohio locations for Faherty, Peter Millar, State & Liberty, Suitsupply and Todd Snyder. Additionally, the first Vuori store in Columbus will debut.

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DevelopmentMarylandMixed-UseRestaurantRetailSoutheast

SJC Ventures Unveils Plans for $100M Transformation of Harford Mall Site in Metro Baltimore

by John Nelson

BEL AIR, MD. — SJC Ventures has unveiled plans for a $100 million transformation of the Harford Mall site located in Bel Air, roughly 23 miles north of Baltimore. The redevelopment is a partnership between the Atlanta-based mixed-use development firm and the mall owner, Chattanooga, Tenn.-based CBL Properties. Upon approval by the Bel Air Economic and Community Development Commission, the redevelopment project will feature 48,000 square feet of open-air retail, restaurants and amenities that will replace a former Macy’s store, as well as a 35,000-square-foot grocery store. If approved, the new development will complement SJC’s project on the mall’s former Sears parcel, as well as the multifamily development adjacent to the former Sears. SJC Ventures also plans to incorporate pedestrian walkways for enhanced connectivity, pocket parks and open gathering spaces at the Harford Mall site.

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DevelopmentFloridaMixed-UseMultifamilySoutheast

Gateway Jax to Break Ground on Multifamily Building at $2B Pearl Square Mixed-Use Project in Downtown Jacksonville

by John Nelson

JACKSONVILLE, FLA. — Gateway Jax has unveiled plans to break ground on the second building at Pearl Square, a 1.5 million-square-foot mixed-used development underway in downtown Jacksonville. Following the groundbreaking of 515 Pearl in October 2024, 425 Beaver Street will feature 286 multifamily units, onsite parking and nearly 20,000 square feet of retail space. The 425 Beaver Street project team includes SK+I Architecture, Elks Manfredi Architects, Cecconi Simone (interior designer); SK&A Structural Engineers; Lighthouse; and England-Thims & Miller (civil engineer). Jacksonville-based Faver Gray will serve as the general contractor, while the new parks and public spaces will be designed by Hoerr Schaudt. Upon completion, Pearl Square will deliver more than 1,250 residential units; approximately 200,000 square feet of retail space; a 100-room boutique hotel; new public spaces, including widened and shaded sidewalks; public park spaces; and a signature curbless festival street with several outdoor dining options. Retail tenants at the development will include a full-service grocer and fitness club, as well as grab-and-go bodegas, restaurants and other daily service providers like salons and shops. The full build-out of Gateway Jax’s holdings will total an estimated $2 billion in capital investment over the next decade. 425 Beaver Street will break ground on …

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DevelopmentGeorgiaMultifamilySoutheast

RangeWater, NASH Open 303-Unit Camino at BuHi Apartments in Doraville, Georgia

by John Nelson

DORAVILLE, GA. — A partnership between RangeWater Real Estate and North America Sekisui House (NASH) has opened Camino at BuHi, a 303-apartment community located at 3712 Stewart Road in Doraville, an eastern suburb of Atlanta. The new development is situated at the intersection of Buford Highway and Jess Norman Way. Camino at BuHi offers a mix of studio, one-, two- and three-bedroom apartments and townhomes ranging in size from 474 to 1,411 square feet. Monthly rental rates range from $1,387 to $3,254, according to Apartments.com. Amenities include a dog park and spa, resort-style pool courtyard, coworking offices with dedicated podcast recording space, an outdoor grilling station, fitness center, rooftop lounge and a private speakeasy.

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DevelopmentFloridaLoansMixed-UseRetailSoutheast

Codina Partners Obtains $38.8M Construction Loan for Downtown Doral Retail Expansion

by John Nelson

DORAL, FLA. — Codina Partners has obtained a $38.8 million construction loan for the third phase of Downtown Doral’s retail expansion. Ocean Bank provided the loan. Downtown Doral is a 250-acre mixed-use district in South Florida, and the third phase will add nearly 25,000 square feet of retail space along 87th Avenue, with 932 dedicated garage parking spaces for retail visitors. UHealth – University of Miami Health System has leased 11,243 square feet on the north end of the expansion for UHealth Way, which will include comprehensive eye care from the Bascom Palmer Eye Institute and physical therapy services, such as hand therapy and pelvic floor rehabilitation. The south portion of the expansion includes 13,644 square feet of retail space divided into nine customizable units — seven on the ground floor and two on the second floor. The expansion project is scheduled to break ground in the second quarter, with an estimated completion in 2026.

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