CASTLE ROCK, COLO. — White Line Investments has purchased a 2,818-square-foot retail property at 21 N. Wilcox St. in Castle Rock. GPC LLC sold the asset for $1.3 million, or $479.06 per square foot. Built in 2021, the property is currently occupied by Granelli’s Pizzeria and Oasis Pet Salon. Charlie Cummings of Innovate Commercial Real Estate represented the buyer, which is a newly formed entity comprised of the property’s current tenants. John Propp of John Propp Commercial Group represented the seller in the deal.
JERSEY CITY, N.J. — A partnership between regional development and investment firms Kushner Cos. and The KABR Group has completed a $30 million mixed-use redevelopment project in Jersey City. The project converted the former Great Atlantic & Pacific Tea Co. warehouse, a six-story building that was originally constructed in 1913, into a commercial structure with 135,000 square feet of office and retail space known as The Arts & Powerhouse Building. Commercial spaces range in size from 4,000 to 100,000 square feet, and the building features a 10,000-square-foot rooftop amenity deck. Retailers that have already signed leases or opened stores at the building include Rumble Boxing, Daily Provisions, Spear Physical Therapy and One Medical. CBRE is the building’s leasing agent.
CLEVELAND — Frontline Development Group LLC and Woda Cooper Cos. Inc. have broken ground on Gordon Crossing, a 54-unit affordable housing development that will provide housing options for residents earning up to 80 percent of the area median income in Cleveland. The $17.6 million project is backed by a combination of public and private funding. Located at the convergence of Hough and University Circle, Gordon Crossing sits at the heart of two neighborhoods. Hough is known for its revitalization, home to generations of families and a growing wave of investment. University Circle is a hub of institutions such as hospitals, universities and cultural anchors. The four-story development will feature 42 two-bedroom units and 12 three-bedroom apartments. Residents will have access to a community room with kitchenette, onsite management office, parcel room and outdoor spaces. Projected rents range from $362 to $1,699, depending on household income and unit size. The development is expected to house a diverse mix of residents, including caregivers, educators, hospitality and retail workers, civil servants and others. Gordon Crossing is supported by an equity investment from RBC Capital, utilizing housing tax credits allocated by the Ohio Housing Finance Agency (OHFA). Lenders include Dollar Bank, CF Bank, the …
URBANA, ILL. — Marcus & Millichap has brokered the $3.4 million sale of Gateway Shoppes at Five Points in Urbana. The 12-suite retail property consists of two strip centers totaling 29,595 square feet that were 95 percent leased at the time of sale. Jeremie Johnson and Nathan Whalen of Marcus & Millichap represented the seller, Prairie Holdings Newton LLC. David O’Keefe, Steve Bogoyevac and Johnathan Weir of Marcus & Millichap procured the buyer, Nikolas Chugay. Michael Derk of Marcus & Millichap Capital Corp. secured a $2.7 million acquisition loan on behalf of the buyer. The 10-year loan features a 6.74 percent interest rate with a 30-year amortization period and 80 percent loan-to-value ratio.
LANSING, MICH. — TruCore Investments has acquired a fully leased industrial building totaling 30,770 square feet at 4908 Contec Drive in Lansing. Built in 1999, the facility sits on 2.2 acres and features 24,050 square feet of warehouse space and 6,720 square feet of office space. There are 55 parking spaces, two conference rooms, a reception area, breakroom, two docks, two drive-in doors and a 24-foot warehouse ceiling height. The property is fully leased to Extend Your Reach, a full-service mail and marketing company. Christopher Miller of Martin Commercial Properties brokered the transaction.
DOLTON AND OAK LAWN, ILL. — Interra Realty has arranged two multifamily sales in suburban Chicago totaling 53 units. A three-building, 41-unit portfolio in Dolton sold for $3.2 million, while a 12-unit building in Oak Lawn transacted for $1.8 million. Michael Duckler of Interra represented the confidential buyers and sellers in both deals. The Dolton portfolio was nearly fully leased at the time of sale. Half of the units have recently undergone full or partial renovations, including new laminate flooring and updated kitchens. The Oak Lawn asset was fully leased at the time of sale. The price represented one of the highest price-per-unit sales in Oak Lawn in the last decade, according to CoStar data.
KALAMAZOO, MICH. — BrainWise Psychotherapy has expanded its practice at One Crosstown Plaza in Kalamazoo. The practice opened its newly expanded space on March 1. After initially opening in a 1,250-square-foot space in 2024, BrainWise now occupies 4,353 square feet on the fourth floor of 555 Crosstown Parkway. The expansion enables the practice to onboard more therapists. BrainWise offers both in-person and online sessions for mental health support. Kara Schroer of NAI Wisinski of West Michigan represented the landlord in the lease with BrainWise.
ROCHESTER, N.Y. — Northmarq has provided a $14 million Fannie Mae loan for the refinancing of Windsor Gardens, a 296-unit apartment community in Rochester. Built in 1972 and renovated in 2002, Windsor Gardens offers studio, one-, two- and three-bedroom units. Amenities include a fitness center, conference room, clubhouse, video library and onsite laundry facilities. Robert Ranieri of Northmarq originated the 10-year loan on behalf of the borrower, an entity doing business as Windsor Associates LP.
BOSTON — Marcus & Millichap has brokered the $7.3 million sale of Bennington Arms, a 28-unit apartment building in East Boston. The three-story building at 720 Bennington St. is located in the Orient Heights neighborhood and houses 17 one-bedroom units and 11 studios, half of which were recently renovated. Evan Griffith and Tony Pepdjonovic of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
WHITMAN, MASS. — Locally based brokerage firm The Stubblebine Co. has negotiated the sale of a 14.3-acre industrial outdoor storage (IOS) facility in Whitman, located south of Boston in Plymouth County. The site at 215 Bedford St. includes a 23,255-square-foot warehouse and 4.8 paved acres. Matty Drouillard and James Stubblebine of The Stubblebine Co. represented the seller, a limited liability company, in the transaction and procured the buyer, Philadelphia-based Alterra IOS