Monday, December 29, 2025
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Atrium-Garden-San-Jose-CA
AcquisitionsCaliforniaMultifamilyWestern

Interstate Equities Buys 160-Unit Workforce Housing Property in San Jose, California

by Amy Works

SAN JOSE, CALIF. — Interstate Equities Corp. has acquired Atrium Garden, a multifamily community located at 1536 Kerley Drive in San Jose, from an undisclosed seller for $18.4 million. The four-story property offers 160 apartments on three levels over a ground-floor podium parking structure with 63 onsite parking spaces. Residences are fully furnished with beds, bedside tables and lamps, lounge chairs, built-in desks, chairs and TVs. Community amenities include a fitness center, media rooms, multiple resident lounges, community kitchens, onsite laundry facilities and an outdoor barbecue and lounge area.

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IndustrialLeasing ActivityMassachusettsNortheast

New England Appliance Group Signs 124,000 SF Industrial Lease in Bellingham, Massachusetts

by Taylor Williams

BELLINGHAM, MASS. — New England Appliance Group has signed a 124,000-square-foot industrial lease in Bellingham, located southwest of Boston. The independent retailer cooperative will occupy the entirety of the building at 206 Mechanic St. Locally based investment and development firm Marcus Partners owns the building. Both parties were self-represented in the lease negotiations.

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Juniper-Ridge-Apts-Bellevue-WA
AcquisitionsMultifamilyWashingtonWestern

Pine Forest Properties Sells Juniper Ridge Apartments in Bellevue, Washington for $17.5M

by Amy Works

BELLEVUE, WASH. — Pine Forest Properties has completed the disposition of Juniper Ridge, a multifamily property in Bellevue, to a private investor for $17.5 million, or $397,727 per unit. Built in 1991 and renovated in 2015 and 2016, Juniper Ridge offers 44 apartments with kitchen pantries, linen closets, wood-burning fireplaces and a private deck or patio. Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured the buyer in the transaction.

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2173-S-Wabash-St-Denver-CO
AcquisitionsColoradoIndustrialWestern

Malman Real Estate Brokers $1.3M Sale of Industrial Property in Denver

by Amy Works

DENVER — Malman Real Estate has arranged the sale of an industrial property located at 2173 S. Wabash St. in Denver. AB Investment sold the asset to United Properties Group for $1.3 million. Situated on a 28,096-square-foot lot, the property offers 2,040 square feet of flex space. Taylor Roy of Malman Real Estate represented the seller, while Ruzlan Shamaev of Brokers Guild Real Estate represented the buyer in the transaction.

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Leasing ActivityMidwestMinnesotaOffice

Cushman & Wakefield Negotiates 150,000 SF of Leases at Southdale Office Centre in Edina, Minnesota

by Kristin Harlow

EDINA, MINN. — Cushman & Wakefield has negotiated several new long-term leases totaling more than 150,000 square feet at Southdale Office Centre, a six-building campus along France Avenue in the Twin Cities suburb of Edina. First-time tenant Southdale Pediatrics inked a lease for 38,306 square feet at 6600 France Avenue, a specialty medical outpatient property that recently underwent major renovations to the first- and second-floor lobbies and common areas. Edina Realty signed a lease renewal for 38,676 square feet at 6800 France Avenue, and Evereve doubled its footprint to 41,113 square feet. Several other companies have also recently signed new leases or renewals. Bill Rothstein and Eric King of Cushman & Wakefield represented property ownership, Wildamere Capital Management and Olympus Ventures.

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AcquisitionsMichiganMidwestMultifamily

Berkadia Brokers Sale of 335-Site Manufactured Housing Portfolio in Michigan

by Kristin Harlow

MICHIGAN — Berkadia has brokered the sale and arranged financing for the Michigan MHC Portfolio, which comprises four manufactured housing communities (MHC) with 335 sites across the state. Kevan Enger of Berkadia represented the seller, California-based Urban West Ventures. Scott Modelski of Berkadia secured acquisition financing through Barclays – Conduit on behalf of the buyer’s Chicago-based affiliate, Butler Communities. The portfolio includes Pontaluna Shores in Norton Shores, Broadway Acres in Mount Pleasant, University Mobile Estates in Whitmore Lake and Brookhaven in Comstock Park. The assets were built in 1967, 1986, 1952 and 1970, respectively.

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CivicDevelopmentIndianaMidwest

Skender Breaks Ground on $35M Headquarters for Westfield Police Department in Indiana

by Kristin Harlow

WESTFIELD, IND. — Skender has broken ground on the new $35 million headquarters for Westfield Police Department on an 11.7-acre site along Grand Park Boulevard. The project team includes Garmong as developer, Dewberry as architect and Veridus Group as the owner’s representative. The city’s Informatics Department will also be housed in the building. The project plan includes an optional 30,000-square-foot addition that can be added in the next 15 to 20 years. Completion is slated for 2027.

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AcquisitionsIllinoisIndustrialMidwest

Missner Group Sells 80,464 SF Industrial Building in Addison, Illinois

by Kristin Harlow

ADDISON, ILL. — The Missner Group has sold an 80,464-square-foot industrial building located at 50 S. Fairbank St. in Addison. Missner developed the property in 2023 in partnership with Realterm. The building features a clear height of 32 feet, 13 exterior docks, two drive-in doors and 180 parking spaces. The property is leased to Midwest Solutions, Cytronic and PGW Autoglass.

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AcquisitionsIllinoisMidwestRetail

Marcus & Millichap Arranges $4.5M Sale of Retail Property in Oak Lawn, Illinois

by Kristin Harlow

OAK LAWN, ILL. — Marcus & Millichap has arranged the $4.5 million sale of Park Lawn Plaza, a 13-suite retail property in the Chicago suburb of Oak Lawn. The asset, situated on 2.5 acres at 9600 S. Pulaski Road, totals 24,685 rentable square feet and was 84 percent occupied at the time of sale. Adrian Mendoza, Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a local real estate investment company. The buyer was a local private investor.

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AcquisitionsNorth CarolinaRetailSoutheast

Simon Acquires 134,000 SF Phillips Place Shopping Center in South Charlotte

by John Nelson

CHARLOTTE, N.C. — Simon Property Group, the Indianapolis-based mall giant and retail REIT, has purchased Phillips Place, a 134,000-square-foot, open-air shopping center in Charlotte’s SouthPark neighborhood. The seller and sales price were not disclosed. Simon also owns the nearby SouthPark Mall. Phillips Place’s tenant roster includes more than 25 retail shops and restaurants, including alice+ olivia, Peter Millar, rag & bone, Ralph Lauren, Veronica Beard, RH Gallery (as well as its rooftop restaurant) and The Palm. The center is part of a mixed-use campus that includes a 180-room Hampton Inn & Suites hotel that Simon also owns and apartments. Simon’s plans for any redevelopment opportunities at Phillips Place were not released.

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