DENVER — BMC Investments has sold 255 Fillmore, a Class A mixed-use building in Denver’s Cherry Creek neighborhood. A high-net-worth family office acquired the asset for an undisclosed price. Tim Richey of Newmark represented the seller in the deal, while Lincoln Property Co. served as investment advisor for the buyer. Alex Foshay and Kevin Shannon of Newmark also supported the transaction. Delivered in 2024, 255 Fillmore features 90,000 square feet of office space and 10,000 square feet of ground-floor retail space. The seven-story property is fully leased to multiple office tenants and three retail/restaurant tenants, including Le Colonial restaurant.
FORT COLLINS, COLO. — JLL Capital Markets has brokered the $12.1 million sale of Drake Crossing, a 56,214-square-foot retail center located at 2100 W. Drake Road Fort Collins. The three-building shopping center was 96 percent leased at the time of sale to a mix of local and national tenants, including Subway, Joseph’s Hardware Store, Intersect Brewery and Poudre Pet & Feed Supply. Alpine Investment Group sold the asset to Big Ben Funds and CAMCRE in an off-market transaction. Jason Schmidt and Austin Snedden of JLL Capital Markets Investment Sales and Advisory team represented the seller in the transaction.
TEMPE, ARIZ. — Phoenix-based general contractor Stevens-Leinweber Construction has broken ground on TenSixty Interchange, an office-to-industrial redevelopment in Tempe, on behalf of Alidade Capital and Pine Creek Real Estate Partners. The project will bring new mid-size, infill industrial product to the Interstate 10/Baseline Road corridor. Prior to the groundbreaking, a two-story office building on the site was demolished to prepare a shovel-ready development parcel. When complete, TenSixty Interchange will total 58,250 square feet of Class A, small-bay industrial space. Situated on 4.5 acres at 4415 S. Wendler Drive, the property will feature 24-foot clear heights and accommodations for multiple mid-size tenants or up to six smaller tenants with divisibility to approximately 9,700 square feet. Additional features will include full HVAC, LED lighting, 3,000 amps of power and a 1,985-square-foot speculative office suite on each endcap. TenSixty Interchange will also include 16 dock doors, eight grade-level doors and 83 parking spaces. Butler Design Group is serving as architect for the project. Steve Larsen, Jason Moore and Katie White of JLL will handle leasing for the property.
CHICAGO AND ATLANTA — The Scion Group, a Chicago-based owner-operator of student housing communities, has entered into a definitive agreement to acquire the operating business of Student Quarters (SQ), an Atlanta-based operator with interests in approximately $1.5 billion of student housing assets. SQ’s senior leadership will retain asset ownership positions. The SQ portfolio comprises approximately 13,000 beds across 21 markets, with 77 percent market overlap with Scion’s existing footprint. In addition to acquiring the SQ operating business, Scion will also invest both in underlying real estate and related fund structures. The transaction is being funded entirely with Scion’s balance sheet and is expected to close in the third quarter, subject to customary closing conditions. Prior to this transaction, Scion’s portfolio consisted of more than 105,000 beds across 161 communities in 89 U.S. markets.
SKOKIE, ILL. — BWE has arranged a $133 million first mortgage loan to recapitalize The Henry at Harms Woods, a 294-unit apartment community with 8,000 square feet of ground-floor retail space in Skokie. Daniel Rosenberg and Logan Petersmeyer of BWE arranged the financing on behalf of the sponsor, a joint venture between Tucker Development and Wingspan Development Group. Sourced from an institutional bank lender, the loan enables ownership to lower their cost of capital from the construction financing while maintaining the flexibility needed to complete lease-up and stabilize the asset. Completed in late 2025, The Henry at Harms Woods features 245 apartment units and 49 for-rent townhomes with attached two-car garages. Amenities include a pool, courtyard, fitness center, work-from-home spaces and direct access to hundreds of acres of surrounding natural open space.
ALTON, ILL. — Marcus & Millichap has brokered the $15 million sale of Alton Center Business Park, a 450,000-square-foot industrial property located in the St. Louis suburb of Alton. Institutional Property Advisors (IPA), a division of Marcus & Millichap, arranged $12.4 million in acquisition financing on behalf of the buyer, Rockford Asset Management. Alton Center Business Park sits on 133.8 acres and features 22 dock-high doors, five grade-level doors, clear heights between 23 and 25 feet and outdoor storage capacity. Imperial Manufacturing Group anchors the property, which was 70 percent leased at the time of sale. Tyler Sharp and Adam Abushagur of Marcus & Millichap represented the seller, a private family partnership, in the transaction and procured the buyer. Frank Montalto and Ethan Splan of IPA arranged the three-year loan, which carries multiple extension options and a 75 percent loan-to-cost ratio, through a direct bridge lender.
DU QUOIN, ILL. — North Arrow Partners, in partnership with Turnstone Development, has closed on the financing and commenced construction on The Blackstone, a 36-unit seniors housing development in Du Quoin, a city in southern Illinois. Located at 1223 S. Washington St., the two-story independent living property will be reserved for seniors age 55 and up. Amenities will include a garden and fitness center. The Illinois Housing Development Authority, Hudson Capital and Associated Bank are providing financing and support.
HOUSTON — Tokyo-based solar manufacturing company TOYO Co. Ltd. (NASDAQ: TOYO) has unveiled plans to expand its U.S. manufacturing platform by building a 1.5 gigawatt (GW) solar cell manufacturing facility that will be co-located at the company’s existing solar module site in metro Houston. The project is intended to create an integrated manufacturing hub that is expected to generate approximately 400 direct full-time manufacturing jobs. The expansion represents a total projected capital investment of approximately $357 million. Engineering, facility design and procurement planning are underway, with full project completion and initial pilot production expected within 20 months. The project will be carried out in structured phases to ensure compliance with local regulatory frameworks and permitting timelines. The facility will produce next-generation heterojunction (HJT) solar cells. Engineered for maximum yield, HJT cells utilize a technology that delivers an optimal temperature coefficient, ensuring high power production even in extreme heat, according to TOYO. By co-locating the facility with its module operations, TOYO expects to achieve operational synergies, reduce localized logistics costs and shorten the production cycle. “Expanding into domestic cell manufacturing is the natural next step in our commitment to creating an integrated onshore solar supply chain from polysilicon to panels,” says …
MCKINNEY, TEXAS — Local developer Craig International has unveiled plans for Rowlett Station, a $200 million mixed-use redevelopment project in McKinney, a northern suburb of Dallas. The project involves the 58-acre former office campus of Globe Life, which served as the insurance company’s longtime headquarters prior to its relocation to the nearby building at 7677 Henneman Way. Preliminary plans for Rowlett Station call for multifamily, office and retail components, as well as a network of walking and biking trails. Additional details on project partners and construction timelines will be announced in the coming months.
DALLAS — A partnership between Estein USA and Vanderbilt Office Properties has acquired Pinnacle Tower, a 549,170-square-foot office building in North Dallas. The seller was New York Life. The 24-story building, which was 88 percent leased at the time of sale, offers amenities such as a café, tenant lounge, conference center, coffee bar, outdoor amenity area and a fitness center. The new ownership has tapped JLL as the building’s leasing agent.