Property Type

Berkadia Negotiates Sale of 288-Unit 198 Milltown Apartments in Burlington, North Carolina

by John Nelson March 25, 2025

BURLINGTON, N.C. — Berkadia has negotiated the sale of 198 Milltown Apartments, a 288-unit community located at 198 Milltown St. in Burlington, a city in North Carolina’s Piedmont Triad region. A fund sponsored by Birmingham, Ala.-based StoneRiver Co., StoneRiver Investment Fund III, purchased the Class A community from Wilmington, N.C.-based Zimmer Development Co. for an undisclosed price. Caleb Troop and Thomas Colaiezzi of Berkadia’s Charlotte office represented the seller in the transaction. Built in 2020, 198 Milltown features one-, two- and three-bedroom apartments ranging in size from 700 to more than 1,200 square feet. Amenities include a 24-hour health club and resident lounge, pet spa and pet park, saltwater swimming pool, outdoor social lounge and grill area, Amazon package lockers, playground, a car care center and garages.

March 25, 2025

Phase-II-Rose-Hill-Courts-Los-Angeles-CA

Affordable Housing California Development Multifamily Western

R.D. Olson Construction Breaks Ground on $57.8M Phase II of Affordable Housing Project in Los Angeles

by Amy Works March 25, 2025

LOS ANGELES — R.D. Olson Construction, in partnership with Related California Properties and the Housing Authority of the City of Los Angeles, has started construction on Phase II of Rose Hill Courts. The $57.8 million project builds on the success of Phase I, which was completed in 2023. Located at 3521 N. McKenzie Ave., Phase II of Rose Hill Courts will feature seven apartment buildings ranging from two to three stories with basements, totaling 96 affordable housing units. Additionally, the new development will feature a community building dedicated to resident gatherings and events, an outdoor playground and a basketball court. The project will also offer tuck-under parking on five of residential buildings. The total development will space a total of 115,406 square feet of gross building area across a 150,400-square-foot site. Slated for completion in 2027, the project will generate more than 400 construction jobs. Partners on the project include the Housing Authority of the City of Los Angeles, Related California Properties, BSB Design (formerly Withee Malcolm Architects) and AMJ Construction Management.

March 25, 2025

Acquisitions California Multifamily Western

Brixton Capital Sells 227-Unit Apartment Community in Moreno Valley, California

by Amy Works March 25, 2025

MORENO VALLEY, CALIF. — Brixton Capital has completed the disposition of Elevate at Towngate, a multifamily property in Moreno Valley. San Francisco-based FPA Multifamily acquired the asset for $41 million. Brixton Capital originally acquired the property in December 2017 for $28 million, rebranded and renovated the asset. Built in 1973, Elevate at Towngate offers 227 units spread across seven residential buildings. The one-, two- and three-bedroom apartments range from 590 square feet to 1,224 square feet. Chelsea Jervis, CJ Angle and Blake Rodgers of JLL represented Brixton, while the buyer was self-represented in the deal.

March 25, 2025

Acquisitions Industrial Washington Western

Kennedy Wilson Buys 204,458 SF Auburn Park 44 Distribution Facility in Metro Seattle

by Amy Works March 25, 2025

AUBURN, WASH. — Kennedy Wilson has acquired Auburn Park 44, a multi-tenant industrial and distribution building on more than 9 acres in Auburn, a suburb 30 miles south of Seattle. A global investor advisor sold the property for an undisclosed price. Located at 814 44th St., the 204,458-square-foot Auburn Park 44 features 24-foot to 30-foot clear heights, ESFR sprinklers, heavy power, ample dock-high and grade-level loading and abundant auto parking. Jeff Chiate, Matthew Leupold, Bryce Aberg, Rick Ellison and Aubrie Monahan of Cushman & Wakefield’s National Industrial Group – West represented the seller in the deal. Cushman & Wakefield’s Patrick Mullin and CBRE’s Andrew Hitchcock provided local leasing advisory in the transaction. Keith Padien and Max Schafer of Cushman & Wakefield Equity, Debt & Structured Finance arranged acquisition financing for Kennedy Wilson.

March 25, 2025

Acquisitions Multifamily New Jersey Northeast

Redwood Realty Advisors Arranges $7.8M Sale of Apartment Building in Belleville, New Jersey

by Taylor Williams March 25, 2025

BELLEVILLE, N.J. — Locally based brokerage firm Redwood Realty Advisors has arranged the $7.8 million sale of Twin River Gardens, a 60-unit apartment building in the Northern New Jersey community of Belleville. The property exclusively offers one-bedroom units with an average size of 825 square feet, and most residences include private balconies. Residents also have access to onsite laundry facilities. Kevin McCrann and James McConnell of Redwood represented the buyer and seller, both of which requested anonymity, in the transaction.

March 25, 2025

Acquisitions California Office Retail Western

NorthStar Homes Acquires Canon Street Marina Center in San Diego for $8.2M

by Amy Works March 25, 2025

SAN DIEGO — NorthStar Homes has purchased Canon Street Marina Center, a retail and office center in San Diego’s Point Loma Village submarket, from Canon Street Properties for $8.2 million. The transaction includes two adjacent properties located at 2810-2832 Cañon St. and and 1101-1111 Scott St. At the time of sale, the property was fully leased to nine tenants. Kyle Clark of Intersection CRE represented the seller, while Joe Virgilio of Strom Commercial represented the buyer in the deal.

March 25, 2025

Acquisitions California Retail Western

Marcus & Millichap Negotiates Sale of Atlantic & Slauson Shopping Center in Maywood, California

by Amy Works March 25, 2025

MAYWOOD, CALIF. — Marcus & Millichap has arranged the sale of Atlantic & Slauson Shopping Center in Maywood. A private seller sold the asset to a private investor for undisclosed price. The 17,610-square-foot Atlantic & Slauson Shopping Center is located at 5900 Atlantic Blvd. Ron Duong of Marcus & Millichap represented the seller and buyer in the deal.

March 25, 2025

Leasing Activity New York Northeast Office

Tag Wall Signs 26,336 SF Office Sublease in Midtown Manhattan

by Taylor Williams March 25, 2025

NEW YORK CITY — Creative design and branding agency Tag Wall has signed a 26,366-square-foot office sublease at 1745 Broadway in Midtown Manhattan. The space spans the entire eighth floor of the 26-story, 780,525-square-foot building. Richard Bernstein, Adam Ardise, Stephen Bellwood, Lei-Lani Keelan and Troy Elias of Cushman & Wakefield represented the sublandlord, Penguin Random House, in the sublease negotiations. Matt Astrachan, Ben Bass, Harrison Potter and Kate Roush of JLL represented Tag Wall. Atlanta-based Invesco Real Estate owns 1745 Broadway.

March 25, 2025

Illinois Leasing Activity Midwest Office

Tishman Speyer Inks 240,000 SF Office Lease Renewal with BP at CME Center in Chicago

by Kristin Harlow March 25, 2025

CHICAGO — Tishman Speyer has inked a 240,000-square-foot office lease renewal with BP at CME Center in Chicago’s West Loop. Global energy leader BP will maintain the same footprint it currently occupies on the entire seventh through 10th floors of 10, 20 and 30 South Wacker Drive. A tenant at the property since 2009, BP’s lease renewal will keep its Chicago office at the campus through at least 2032. CME Center consists of two 40-story office towers, which are connected by a 10-story center structure. Completed in phases during the 1980s, the 2.3 million-square-foot property holds the distinction of being Chicago’s first all-concrete skyscraper. Working with Chicago-based architect Krueck Sexton Partners, Tishman Speyer recently completed a reimagining of CME Center’s lobby, façade and entrances, and expanded the amenity offerings. Tenants and their guests now have access to ZO Clubhouse, an amenity center with a lounge, library, bar area, huddle and wellness rooms, a boardroom and conference room. There is also a 19,500-square-foot fitness facility. Tenants at CME Center include Chicago Mercantile Exchange, Wells Fargo, Reed Smith and RSM. Ellen May represented Tishman Speyer on an internal basis. Matt Carolan, Andy Strand and Kevin Morgan of JLL represented BP.

March 25, 2025

Acquisitions Midwest Ohio Retail

American Commercial Realty Buys Seven Retail Centers in Columbus, Ohio

by Kristin Harlow March 25, 2025

COLUMBUS, OHIO — American Commercial Realty (ACR) has purchased seven retail centers in Columbus totaling approximately 215,000 square feet. There are five centers on and near the “Main Street” corridor east of downtown and two properties along the Dublin-Granville corridor in the city’s northeast side. The assets include Village Centre, Beechcroft Centre, Main Hamilton Center, 5156 E Main St Centre, Wyandotte Centre and McNaughten Center. ACR also unveiled that Marx Bagels, a kosher bagel bakery from Cincinnati with roots in the Columbus market, will be taking over the space at McNaughten Center long occupied by Block’s Bagels. Palm Beach Gardens, Fla.-based ACR owns and operates more than 2.5 million square feet of commercial properties in addition to a multifamily portfolio. The portfolio marks the company’s first Columbus acquisition.

March 25, 2025

Newer Posts

Older Posts