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Liv-Sky-Cottages-Flagstaff-AZ
ArizonaDevelopmentMultifamilyWestern

Liv Communities Breaks Ground on 203-Unit Liv Sky Cottages in Flagstaff, Arizona

by Amy Works

FLAGSTAFF, ARIZ. — Liv Communities, in partnership with Wespac Residential and Vintage Partners, has broken ground on Liv Sky Cottages, a 203-unit multifamily property within Flagstaff’s Timber Sky master-planned community. Situated on 32 acres, Liv Sky Cottages will feature 117 one-bedroom, 35 two-bedroom and 51 three-bedroom residences, with 10 percent of the units reserved for individuals and families earning below the area median income. Community amenities will include a dog park, playground, garden beds, walking paths and gathering spaces for residents. Additionally, the property will offer bike storage, a compactor, electric vehicle chargers, three frisbee golf targets and a checker/chess area.

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INOVA-Centennial-CO
ColoradoDevelopmentIndustrialWestern

United Properties Procures $20.1M JV Equity for 442,450 SF Industrial Project Near Denver

by Amy Works

CENTENNIAL, COLO. — Cushman & Wakefield served as the exclusive advisor to United Properties in the procurement of a $20.1 million joint venture equity investment for Phase I of INOVA, a Class A multi-tenant industrial project being constructed in Centennial. The planned 442,450-square-foot project will consist of five shallow-bay, rear-load industrial buildings on nearly 43 acres, with each building on a separate parcel. Phase I of INOVA will include a 141,480-square-foot building and a 113,770-square-foot building on individual parcels, totaling 255,250 square feet of industrial space. Phase II is currently planned to be two 93,600-square-foot front-park, rear-load buildings, totaling 187,200 square feet. The project also includes an additional vacant 5-acre pad site that can house a 43,700-square-foot freestanding building, which is being targeted for a build-to-suit user. Will Strong, Michael Matchett, Molly Hunt, Jack Stamets and Madeline Warren of Cushman & Wakefield’s National Industrial Advisory Group — Mountain West represented United Properties in the equity transaction. Tyler Smith, Alex Rhodes and Aaron Valdez of Cushman & Wakefield provided local advisory services for the assignment and will represent the venture in leasing the project.

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MM-Loan-Retail-Center-Rancho-Cucamonga-CA
CaliforniaLoansRetailWestern

Marcus & Millichap Arranges $19M Refinancing for Retail Center in Rancho Cucamonga, California

by Amy Works

RANCHO CUCAMONGA, CALIF. — Marcus & Millichap has arranged a $19 million loan through its affiliate, BA Debt Fund LLC, to refinance a shopping center located in Rancho Cucamonga. Bolour Associates provided the loan. The 106,000-square-foot property, which was 99 percent leased at the time of financing, is anchored by a Smart & Final grocery store. Preston Davey of Marcus & Millichap arranged the loan on behalf of the borrower.

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1555-Burke-Ave-San-Francisco-CA
AcquisitionsCaliforniaIndustrialWestern

MCA Realty Buys 40,000 SF Multi-Tenant Industrial Building in San Francisco

by Amy Works

SAN FRANCISCO — MCA Realty has acquired a multi-tenant industrial building located at 1555 Burke Ave. in San Francisco for $11 million. The firm purchased the building with its MCA Realty Industrial Growth Fund II from a San Francisco-based private investor in an off-market transaction. MCA Realty plans to implement a capital improvement program at the 40,000-square-foot building. Planned exterior upgrades include new paint, concrete repairs, roof overlay, modern landscaping, identity signage and exterior fencing. Interior improvements include office refreshes, new carpet/ceiling tiles and bathroom fixtures, LED lighting, painting and insulation of the warehouse. The building features 16 condominium units featuring 18-foot clear heights, grade-level loading, well-designed ingress/egress and efficient warehouse and office layouts. At the time of sale, the property was 94 percent leased to 15 tenants. Jim Farris of JMF Capital represented the buyer, while Karl Hansen of CBRE represented the seller in the deal.

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Affordable HousingDevelopmentIllinoisMidwestMultifamily

F.H. Paschen Tops Out Construction of $43M Workforce Housing Development in Metro Chicago

by Kristin Harlow

BELLWOOD, ILL. — F.H. Paschen has topped off the first phase of the Bellwood Gateway Development, a $43 million workforce housing project in the Chicago suburb of Bellwood. The four-story, 71-unit community will feature 6,000 square feet of ground-floor commercial space and is set to open in spring 2026. Serving as the developer and general contractor, F.H. Paschen now moves toward the enclosure of the structures. Once enclosed, work will move on to mechanical, electrical, plumbing and fire protection installations, followed by drywall, windows and façade work. Construction began in July 2024 on the project, which involves the repurposing of the former Village Hall, police and fire stations, and emergency management office. Chicago-based DesignBridge was the architect. The project is financed through a combination of tax-increment financing, a State of Illinois grant and workforce housing bonds.

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DevelopmentIndustrialMidwestOhio

Sansone Group to Develop 212,000 SF Cold Storage Facility in Columbus, Ohio

by Kristin Harlow

COLUMBUS, OHIO — Sansone Group, in partnership with Clous Road Partners, has secured an 18.6-acre site in Columbus for the development of a 212,000-square-foot cold storage facility. Located on Groveport Road in the northern Rickenbacker submarket, the site is less than five miles from Rickenbacker International Airport and offers direct access to distribution routes, including I-270, I-70 and I-71. The project will feature temperature settings ranging from 40 to minus 20 degrees Fahrenheit and 50-foot clear freezer heights. Construction is expected to begin this summer. Sansone Group has partnered with JLL and CBRE to market the property. The project team includes Kadean Construction and Hercules Construction Management.

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AcquisitionsDevelopmentMidwestMultifamilyWisconsin

Cushman & Wakefield | Boerke Arranges Sale of Multifamily Development Site Near Milwaukee

by Kristin Harlow

MOUNT PLEASANT, WIS. — Cushman & Wakefield | Boerke has arranged the sale of 18.1 acres of land in Mount Pleasant, a southern suburb of Milwaukee. The site, located near I-94, will be developed into a 280-unit garden-style apartment community. The buyer, Continental Properties, plans to break ground immediately. The seller was undisclosed.

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AcquisitionsMichiganMidwestRetail

Mid-America Brokers Sale of 62,079 SF Retail Center in Portage, Michigan

by Kristin Harlow

PORTAGE, MICH. — Mid-America Real Estate Corp. has brokered the sale of Shoppes at Romence Village in Portage, just south of Kalamazoo. The sales price was undisclosed. The 62,079-square-foot retail center was 96 percent leased at the time of sale to tenants such as AAA, Great Clips, Michigan Secretary of State, Jet’s Pizza, Once Upon a Child and Clothes Mentor. Ben Wineman, Daniel Stern and Brad Lefkowitz of Mid-America represented the seller, Bloomfield Hills, Mich.-based Bleznak Real Estate Investment Group. New York-based Time Equities Inc. was the buyer.

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DevelopmentMichiganMidwestRetail

Poag, Studio C to Complete $5M Renovation of Celebration Cinema at RiverTown Crossings in Michigan

by Kristin Harlow

GRANDVILLE, MICH. — Poag Development Group and Studio C have unveiled plans for a $5 million renovation of Celebration Cinema at RiverTown Crossings in Grandville. Plans call for luxury heated recliners from Irwin Seating, a Michigan-based seating manufacturer; a new façade; a C PREMIUM auditorium featuring Dolby Atmos sound and 4K laser projection; and a significant expansion to Celebration Cinema’s food-and-beverage operations, including the addition of a full bar and new menu items. Renovations for the C PREMIUM auditorium is expected to be completed in May, with the other auditoriums and full transition to recliner seating set for this summer. RiverTown Crossings recently received improvements such as landscaping to the outer portion of the mall, a repaired merry-go-round and significant upgrades to the parking lot. Poag’s greater redevelopment plan is to evolve the mall into a mixed-use lifestyle center. Studio C is a local owner and operator of entertainment destinations, including Celebration Cinema.  

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AcquisitionsNew YorkNortheastRetailSoutheastTop StoriesVirginia

Dollar Tree to Sell Family Dollar Business to Private Equity Firms for $1B

by Kristin Harlow

CHESAPEAKE, VA. AND NEW YORK CITY — Dollar Tree Inc. (NASDAQ: DLTR) has agreed to sell the Family Dollar business segment to Brigade Capital Management LP and Macellum Capital Management LLC for $1 billion. The sales price represents a fraction of the $8.5 billion that Dollar Tree paid for the discount brand in 2015. Family Dollar will remain headquartered in Chesapeake. Family Dollar, which caters to low-income customers with its roughly 8,000 U.S. stores, has struggled in recent years. In March 2024, Dollar Tree unveiled plans to close approximately 970 underperforming Family Dollar stores. After a review of potential alternatives for the Family Dollar business segment, the Dollar Tree leadership team and board of directors determined that a sale of Family Dollar to Brigade and Macellum best unlocks value for Dollar Tree shareholders and positions Family Dollar for future success. “This is a major milestone in our multi-year transformation journey to help us fully achieve our potential,” says Mike Creedon, CEO of Dollar Tree. “We will continue to grow and optimize our Dollar Tree business to maximize value for Dollar Tree associates, customers and shareholders with an enhanced focus on compelling initiatives, including our expanded assortment, significant planned new store …

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