SCOTCH PLAINS, N.J. — Locally based REDCOM Design & Construction has broken ground on Front Street Housing, a 42-unit affordable housing project in Scotch Plains, about 20 miles west of New York City. K&M Facility Management is developing the three-story building. Information on specific income restrictions, floor plans and amenities was not disclosed. Completion is slated for summer 2026.
ORLANDO, FLA. — JLL has brokered the sale of a 513,560-square-foot industrial park located in Orlando’s Northwest Orange County submarket. LaSalle Investment Management purchased the property from an affiliate of PGIM Real Estate for an undisclosed price. Luis Castillo, Cody Brais and Taylor Osborne of JLL brokered the transaction. Built in 2018-2019, the five-building park represents Phase I of Princeton Oaks and was fully leased to 15 tenants at the time of sale. Justin Ruby and Joey Woodman of Foundry Commercial spearhead the leasing assignment at Princeton Oaks.
NASHVILLE, TENN. — Olympus Property has acquired The Griff, a 255-unit apartment community in Nashville’s Germantown neighborhood. The seller and sales price were not disclosed. Built in 2019, The Griff offers studio, one- and two-bedroom apartments ranging in size from 589 to 1,251 square feet. Amenities include a sky lounge with panoramic views, fitness center, private recording studio, riverfront courtyard, pet park and multiple levels of structured parking. The acquisition brings Olympus Property’s Tennessee portfolio to more than 1,200 units owned and managed.
LARGO, FLA. — Plaza Advisors has negotiated the sale of Central Park Plaza, a 47,653-square-foot shopping center in Largo, a city in the Tampa metro area. Jeff Berkezchuk and Jim Michalak of Plaza Advisors represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed. Situated on 4.3 acres along Missouri Avenue, Central Park Plaza was 95 percent leased at the time of sale to tenants including NAPA Auto Parts, Rent-A-Center, Boost Mobile and AMA Medical Group (Humana).
NEW YORK CITY — Evergreen Trading has subleased 20,309 square feet of office space at One SoHo Square in Manhattan. The media investment agency will relocate from 99 Hudson St. in the first quarter, doubling its footprint for the ensuing seven-year lease term. Michael Berman of JLL represented Evergreen Trading in the sublease negotiations. Zev Holzman of Savills represented the undisclosed sublessor. Stellar Management owns the property.
LOS ANGELES — Waterton has acquired G12, a mid-rise multifamily property at 1200 S. Grand Ave. in Los Angeles’ South Park neighborhood. Terms of the transaction were not released. Cushman & Wakefield arranged the deal. Built in 2017, G12 offers 347 studio, one- and two-bedroom apartments with loft options. Residences include private balconies, quartz countertops, stainless steel GE appliances, in-unit washers/dryers and vinyl plank flooring. The buyer plans to renovate the units with the addition of mobile kitchen islands and upgraded lighting and plumbing fixtures throughout. Community amenities include a lounge with fireplace, fitness center with a yoga/spin studio and Peloton bikes, an outdoor pool and sundeck with grilling stations, a sky terrace with a rooftop dog run, private underground parking and bike storage. Additionally, the property includes 17,000 square feet of street-level retail space.
YORBA LINDA, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Home Ranch Commons, a mixed-use medical and retail property in Yorba Linda. Greenbridge Partners sold the asset to Optimus Properties LLC for $35.6 million. Tom Lagos, Mark DeGiorgio, Jose Carrazana and Patrick Toomey of IPA represented the seller in the transaction. Built in 1984 and renovated in 2018, the 60,737-square-foot Home Ranch Commons is co-anchored by UCI Health and Kiddie Academy. Additional tenants at the property include Blue Agave, YL Family Chiropractic, Bodhi Leaf Trading Co., Coder School and Torkian Aesthetic Center.
MILTON, WASH. — San Diego-based Pathfinder Partners has purchased Sundance, a 105-unit apartment property in Milton, a suburb south of Seattle, from SEB Inc. The purchase price was $28.1 million, or $268,000 per unit. Located at 210 27th Ave., Sundance offers 18 one-bedroom/one-bath units, 42 two-bedroom/one-bath units, 24 two-bedroom/two-bath units and 21 three-bedroom/two-bath units ranging from 725 square feet to 1,160 square feet spread around nine three-story residential buildings. Units include washers/dryers, nine- and 10-foot ceilings on the upper floors, electric fireplaces, private decks or patios and walk-in closets. Onsite amenities include a pool, hot tub, community picnic area with barbecue grills, a playground and 24 detached garages, as well as a community building with a clubhouse, leasing office and fitness center.
SALT LAKE CITY — Arizona-based ViaWest Group has completed the sale of a freestanding warehouse located at 3255 W. 500 South in Salt Lake City. A St. Louis-based private real estate investment firm acquired the asset for an undisclosed price. Built in 2016 on 2.2 acres, the property offers 40,709 square feet of single-tenant space, which is fully leased on a long-term basis to a provider and distributor of industrial and manufacturing products. Phil Haenel, Will Strong, Foster Bundy and Katie Repine of Cushman & Wakefield represented the seller in the deal. Phillip Eilers and Jon Schreck of Cushman & Wakefield provided market leasing services.
DENVER — Unique Properties Inc./TCN Worldwide has brokered the sale of an industrial building located at 1301 S. Cherokee St. in Denver. The 11,102-square-foot property traded for $1.6 million, or $144 per square foot. The names of the seller and buyer were not released. Michael DeSantis, Brett MacDougall and Carson Lang of Unique Properties brokered the sale.