Tuesday, August 11, 2026
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CivicDevelopmentIllinoisMidwest

McHugh Begins Construction Work for 127,250 SF Community Center in Elmhurst, Illinois

by Kristin Harlow

ELMHURST, ILL. — McHugh Construction and its joint venture partner Nacional Group LLC have begun preconstruction work for the new Wagner Community Center in the Chicago suburb of Elmhurst. The 127,250-square-foot, two-story project will replace the current 32,000-square-foot community center at 615 N. West Ave. Demolition is scheduled for this fall, ahead of construction breaking ground in December. A grand opening is planned for fall 2027. Designed by the Elmhurst office of Dewberry, the new center will feature an artificial turf field for soccer, football and baseball; 27,000 square feet of gym space for basketball, pickleball and volleyball; a three-lane indoor walking track; dedicated early childhood and preschool spaces; larger spaces for dance and gymnastics; an indoor play area; and flexible multipurpose spaces for community programming. Additional project partners include mechanical, electrical and plumbing engineer Elara Engineering, structural engineer Pease Borst & Associates, civil engineer V3 Cos. and landscape architect Upland Designs Ltd.

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DevelopmentIndustrialLoansSouth CarolinaSoutheast

Appian Investments Secures Construction Financing for 182,000 SF Industrial Development in Greenville

by John Nelson

GREENVILLE, S.C. — Appian Investments has secured joint venture equity with Harbert Management Corp. for the development of Magnolia Grove, a two-building industrial development located at U.S. Route 25 and Bethuel Church Road in Greenville. Patterson Real Estate Advisory Group arranged the equity placement. Situated within three miles of both I-85 and I-185, Magnolia Grove will span 182,000 square feet across two shallow-bay buildings, both of which will be constructed with tilt-wall concrete. The facilities will feature 24-foot clear heights and a 200-foot asphalt truck court. The construction timeline was not released.

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AcquisitionsGeorgiaLoansOfficeSoutheast

Peachtree Group Originates $42M Acquisition Loan for Atlanta Financial Center Office Campus in Buckhead

by John Nelson

ATLANTA — Peachtree Group has originated a $42 million loan for the acquisition and repositioning of Atlanta Financial Center, a 914,774-square-foot office campus in Atlanta’s Buckhead district. The borrower, Miami-based Banyan Street Capital, recently acquired the office campus, which comprises three interconnected towers situated on 13.1 acres atop Ga. Highway 400 with immediate access to a MARTA station. The floating-rate loan carries a 36-month initial term with a 12-month extension option. The loan is backed by completion, interest and carry guarantees from Banyan Street Capital. After being acquired in 2016 by a Sumitomo Corp. affiliate for $222.5 million, Atlanta Financial Center faced tenant departures, softening fundamentals and shifting capital priorities. Banyan Street Capital plans to reposition the campus, starting with the lease-up of the North Tower, which is being supported by capital expenditure reserves and funds for tenant improvements and leasing. The sponsor will also explore larger tenant opportunities and future redevelopment options.

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Affordable HousingDevelopmentMultifamilyNortheastRhode Island

Partnership Completes 63-Unit Mixed-Income Multifamily Project Near Providence

by Taylor Williams

EAST GREENWICH, R.I. — A partnership between Pennrose, Cove Homes Inc. and the East Greenwich Housing Authority has completed Soria Apartments, a 63-unit mixed-income multifamily project located south of Providence. The four-story building houses one- and two-bedroom units that are reserved for renters earning between 30 and 120 percent of the area median income. Amenities include a fitness center, resident lounge, storage lockers and outdoor picnic areas. Residents also have access to a range of social services.

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FloridaLoansRetailSoutheast

MMG Equity Partners Obtains $38M Refinancing for Four South Florida Shopping Centers

by John Nelson

MIAMI — Miami-based MMG Equity Partners has obtained a $38 million loan for the refinancing of four shopping centers in South Florida. JLL arranged the loan through Synovus Bank. The four properties include Pinecrest Center and Pinecrest Shoppes in Pinecrest, Westlake Plaza in Westchester and Naranja Plaza in Homestead. The four properties, which front either South Dixie Highway or Bird Road, total 127,826 square feet and were purchased between 2018 and 2020 for a combined total of $28.9 million. The properties are recently stabilized and have undergone nearly $8 million worth of capital improvements under MMG’s ownership.

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AcquisitionsRetailSouth CarolinaSoutheast

Matthews Arranges Sale of 106,062 SF Shopping Center in Sumter, South Carolina

by John Nelson

SUMTER, S.C. — Matthews has arranged the sale of Gateway Plaza, a 106,062-square-foot shopping center located at 1342 Broad St. in Sumter, about 44 miles west of Columbia, S.C. Kyle Stonis, Pierce Mayson and Boris Shilkrot of Matthews brokered the transaction between the buyer, an entity doing business as Core Peckville LLC, and the seller, an entity doing business as WEG Sumter LLC. The sales price was not released. Renovated in 2020, Gateway Plaza was nearly 90 percent leased at the time of sale to tenants including T.J. Maxx, Ross Dress for Less, Ulta Beauty and Five Below.

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AcquisitionsAlabamaRetailSoutheast

MPT Brokers $5.7M Sale of Publix-Anchored Shopping Center in Gulf Shores, Alabama

by John Nelson

GULF SHORES, ALA. — Locally based Merrill P. Thomas Co. (MPT) has brokered the $5.7 million sale of Paradise Isle Shopping Center, a 47,520-square-foot shopping center located in Gulf Shores. Publix anchors the property, which is situated on 4.6 acres near the Florida border. Other tenants include AutoZone, Resale Heaven, Nail Boutique & Spa and the Gulf Shores Methodist Church. Pratt Thomas of MPT represented the seller, Gulf Shore Methodist Church, in the transaction. Nathan Handmacher of Zarzour Cos. LLC represented the buyer on an internal basis.

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IndustrialLeasing ActivityNew JerseyNortheast

Hackensack Packaging Solutions Inks 11,015 SF Industrial Lease in Northern New Jersey

by Taylor Williams

HACKENSACK, N.J. — Restaurant supply store Hackensack Packaging Solutions has inked an 11,015-square-foot industrial lease in its namesake town in Northern New Jersey. According to LoopNet Inc., the building at 24 E. Wesley St., which is now fully leased, was completed in 1967 and features a clear height of 14 feet. Chris DeLorenzo and Carolina Gutierrez internally represented the landlord, Alfred Sanzari Enterprises, in the lease negotiations. The tenant was self-represented.

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IllinoisLoansMidwestRetail

MMCC Arranges $4.1M Refinancing for Retail Strip Center in Romeoville, Illinois

by Kristin Harlow

ROMEOVILLE, ILL. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $4.1 million loan for the refinancing of Carillon Court, a 29,891-square-foot retail strip center in the Chicago suburb of Romeoville. The property at 444 N. Weber Road is situated near I-55 and is home to a mix of restaurants and service-oriented businesses, including a dental office, salon and insurance agency. Dean Giannakopoulos of MMCC arranged the loan through a local bank on behalf of the private borrower. The three-year loan features one year of interest-only payments and a 25-year amortization schedule.

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AcquisitionsMidwestOhioRestaurantRetail

Cooper Group Brokers $3.2M Sale of Buffalo Wild Wings-Occupied Restaurant Property in Columbus

by Kristin Harlow

COLUMBUS, OHIO — The Cooper Commercial Investment Group has brokered the $3.2 million sale of a single-tenant restaurant property occupied by Buffalo Wild Wings within the Easton retail corridor in Columbus. Dan Cooper of Cooper Group represented the seller, a private investment group out of West Virginia. The buyer purchased the asset at a cap rate of 5.85 percent, 98 percent of the list price and $413 per square foot. The all-cash transaction closed in approximately 40 days. Buffalo Wild Wings has 10 years remaining on its lease with a rental increase in 2030. The property was renovated in 2020.

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