NORTH OGDEN, UTAH — Blueprint has brokered the sale of The Lodge at North Ogden, a 122-unit senior living property located in North Ogden, roughly 50 miles north of Salt Lake City. Opened in 2019, the community features independent living, assisted living and memory care residences. An undisclosed, non-traded REIT partnered with a regional operator and acquired the property for an undisclosed price. Amy Sitzman and Giancarlo Riso of Blueprint arranged the transaction on behalf of the seller.
DALLAS — JLL has arranged the refinancing of 3100 Monticello, a 175,193-square-foot office building in the Highland Park area of Dallas. The loan amount was not disclosed. The nine-story building was 90 percent leased at the time of sale. Built in the 1980s, the property has been the beneficiary of more than $4 million in upgrades to the lobby, tenant spaces, amenity areas and HVAC systems throughout the hold period of the borrower, Dallas-based Prescott Group. Trey Morsbach, Jarrod McCabe, Jordan Buck and Riley Alam of JLL arranged the five-year loan through an unnamed local bank.
PEORIA, ILL. — Black Bear Capital Partners (BBCP), a subsidiary of Black Bear Asset Management, has arranged $41.5 million in financing for the redevelopment of two warehouse buildings located at 800 and 801 SW Washington St. in Peoria. Oculus Development is the owner and developer. BBCP arranged the financing in two components, both with Southern Bank. A $28.5 million construction loan features a three-year term, fixed interest rate, interest-only payments for the full term and a 66 percent loan-to-cost ratio. A $13 million historic tax credit bridge loan features a two-year term, floating interest rate, interest-only payments for the full term and a 90 percent loan-to-cost ratio. BBCP also assisted in sourcing the historic tax credit equity. The project will feature 170 apartment units and 2,500 square feet of commercial space across two adjoining warehouse buildings. Plans call for a mix of studio, one- and two-bedroom units along with 237 parking spaces. Amenities will include community lounges, laundry rooms, pet grooming stations, a fitness center, bike storage, package rooms, a reading room, movie theater, game room, pet run and courtyard.
ROLLING MEADOWS, ILL. — Marcus & Millichap has brokered the $12.5 million sale of a 130,200-square-foot retail property occupied by Walmart in the Chicago suburb of Rolling Meadows. Built in 2000 and renovated in 2016, the single-tenant property sits on 9.8 acres at 1460 Golf Road. Walmart, which recently signed a long-term lease extension with an absolute net structure backed by a corporate guarantee, has occupied the space for nearly 25 years. Ashish Vakhariya, Seth Haron, Darin Gross and Steven Weinstock of Marcus & Millichap represented the private equity fund seller and procured the institutional buyer.
STRONGSVILLE, OHIO — Dick’s House of Sport has opened at SouthPark Mall in Strongsville, marking the first location of the retailer’s experiential concept in greater Cleveland. The two-level, 100,000-square-foot store transforms the former Sears anchor space into a destination for sports enthusiasts. Dick’s House of Sport offers customers the opportunity to try, practice and play in-store. The location features a rock-climbing wall, outdoor field, batting cages and golf simulators. Attached to the store is a field that will be used for open play, clinics, league space and as an ice rink in winter months. Dick’s Sporting Goods relocated from its former 55,000-square-foot location within the center. Owner Spinoso Real Estate Group acquired SouthPark Mall in 2021.
ALBERTVILLE, MINN. — Colliers has negotiated the $11.2 million sale of Albertville Meadows, a 75-unit affordable housing community in the Twin Cities suburb of Albertville. Built in 1993, the property is located along I-94. The asset benefits from Minnesota’s new 4d(1) property tax classification, effective 2025, which implemented a major tax reduction for affordable housing properties. Mox Gunderson, Dan Linnell, Adam Haydon and Devon Dvorak of Colliers represented the seller, Dominium. The buyer was undisclosed.
ST. CHARLES, ILL. — Perfection Servo Hydraulics, an automation machinery manufacturing and repair company, has signed a full-building industrial lease for 15,840 square feet at 3940 Swenson Ave. in St. Charles. Luke Dummitt of Brown Commercial Group represented the tenant, which is part of SunSource, a North American equipment manufacturing, repair and fabrication business that maintains its primary Illinois facility in Addison. Eric Schneider and Joel Friedland of Brit Properties represented the undisclosed landlord. Perfection’s previous storage location in Batavia was sold. Additionally, the company sought more space for its equipment storage needs.
FORT WORTH, TEXAS — Kroger has opened a 128,000-square-foot store as the anchor tenant at Bonds Ranch Marketplace in northwest Fort Worth. The center also features 45,000 square feet of small-shop and freestanding retail space that is home to tenants such as Starbucks, Chase Bank, Whataburger, Hollywood Feed, ATI Physical Therapy, Emerald Custom Pools, Park Village Nails, Texas Health Breeze and Heartland Dental. Weitzman is the developer and operator of Bonds Ranch Marketplace.
HOUSTON — Whitestone REIT has purchased Ashford Village Center, an 81,407-square-foot grocery-anchored shopping center located in Houston. Ashford Village Center was originally built in 1979, according to LoopNet Inc. Tenants include Thanjai Mess, Ramen Bar Ichi, Japan House, Dollar Tree, Giggles and Fun, Salon Village and Japanese grocer Seiwa Market, which anchors the property. John Indelli, Ryan West, Dawson Hastings and Max Myers of JLL represented the seller in the transaction.
BRIDGEWATER, N.J. — Pacific Retail Capital Partners (PRCP) has unveiled plans for the renovation of Bridgewater Commons, a 1.2 million-square-foot mall in Northern New Jersey. The renovation will entail a reimagining of the food court, updates to lighting and interior landscaping, as well as fresh paint and bannisters throughout the center court, department store wings and mezzanine levels. PRCP acquired the property in 2023 and has spent the past two years revamping the tenant roster via the additions of retailers such as Alo Yoga, Fogo de Chão, Miniso and Pop Mart. PRCP has also rebranded the property as The Village at Bridgewater Commons. Work is now underway and is expected to be complete in the second quarter of next year.
