YARMOUTH, MASS. — Regional brokerage firm Atlantic Capital Partners has negotiated the sale of Yarmouth Shopping Center, a 59,687-square-foot retail property located near the base of Cape Cod. Grocer Stop & Shop anchors the center. Justin Smith, Chris Peterson, Sam Koonce, Danielle Donovan and Matt Austin of Atlantic Capital Partners represented the seller and procured the buyer, both of which requested anonymity, in the transaction. The property traded in conjunction with a 124,405-square-foot center in Stow, Mass., for a combined price of $26 million.
LOS ANGELES — PSRS has arranged a $38.2 million bridge loan to convert a vacant approximately 150,000-square-foot flex property in Los Angeles into a self-storage facility. Jonny Soleimani and George Gianoukakis of PSRS secured the financing for the undisclosed borrower. The financing included a $12.8 million cash-out refinance, fully funded construction costs and an 18-month interest reserve, providing the borrower with the capital needed for the successful repositioning of the asset.
ESCONDIDO, CALIF. — Gantry has secured a $21 million permanent loan to refinance the San Diego County’s North Inland Live Well Center, located at 649 W. Mission Ave. in Escondido within the North County suburb of San Diego. The 111,000-square-foot, build-to-suit office facility was redeveloped for its current use in 2015 from a big box retail building formerly occupied by Office Depot and Albertsons. The fully leased property houses the County’s Health and Human Services Agency community-facing programs, as well as retail space occupied by restaurant tenants. Spencer Fisher of Gantry represented the borrower, a private real estate investor responsible for the property’s original redevelopment. The 10-year, CMBS loan was secured from one of Gantry’s conduit lending sources and features a 30-year amortization and nonrecourse terms.
LEHI, UTAH — Fort Street Partners has partnered with Cumming Capital Management to acquire Lehi Spectrum I and II, two Class A tech office properties in Lehi’s Silicon Slopes district. Terms of the transaction were not released. Built in 2018 and 2020, the buildings offer approximately 265,000 square feet of combined space. Onsite amenities at Lehi Spectrum include pickleball courts, a daycare, gym, locker rooms with showers, an open space auditorium and food services. Bryce Blanchard of Newmark, along with Woodley Real Estate, represented the undisclosed seller in the deal.
BERKELEY, CALIF. — Levin Johnston, part of Marcus & Millichap, has arranged the $12.7 million sale of a retail building at 2310 Telegraph Ave. in Berkeley. Raising Cane’s will occupy the 12,419-square-foot property, which is currently anchored by Walgreens, as a new flagship restaurant. Additional details of the transaction were not released.
LOUISVILLE, COLO. — Ziff Real Estate Partners (ZRP) has purchased Village Square Shopping Center, a necessity-based retail center in Louisville, for $9.2 million. ZRP plans to improve the 40,211-square-foot asset by enhancing the center’s tenant mix and physical property. Located at 535-655 E. South Boulder Road, Village Square is shadow-anchored by Centre Court Apartments and Shamrock Foods.
INDIANAPOLIS — Bradford Allen has negotiated a lease for TWG Motorsports, parent company of Andretti Global, at the former IndyStar Pulliam Production Center located at 8278 Georgetown Road in Indianapolis. The firm is redeveloping the 245,783-square-foot space to serve as the headquarters of Andretti Global’s INDYCAR, INDY NXT and Formula E teams. The renovated facility will have both office and industrial space and accommodate approximately 300 employees. Construction has begun and will be coordinated concurrently with the removal of several three-story printing presses from the building. The project is expected to be completed by this summer. The facility marks Bradford Allen’s second project for TWG Motorsports, the first being a nearly 400,000-square-foot motorsports facility under construction in Fishers, Ind. Built in 1995, 8278 Georgetown Road served as a production facility for the Indianapolis Star until 2024. Bradford Allen will modernize the building’s technology, introduce tailored workspaces and fabrication zones, and incorporate employee amenities such as a fitness center, dining space and pit-stop performance area. Additional project partners include ABEL Construction Co. and Merriman Schmitt Architects. Both firms have experience with motorsports facilities.
CHICAGO — Lessen, a tech-enabled solution for outsourced real estate property services, has opened its new 76,932-square-foot office at 203 North LaSalle Street in downtown Chicago. The 17-story building is situated in the city’s Central Loop tech district adjacent to Google’s forthcoming Chicago office in the Thompson Center. Lessen first entered the Chicago market in 2023 after its acquisition of technology company SMS Assist for $950 million, the largest proptech merger in U.S. history, according to the company. Lessen partners with residential and commercial owners and occupiers who collectively manage over 1 million locations.
FRANKLIN PARK, ILL. — General contractor F.H. Paschen has broken ground on an 80-unit seniors housing community in the western Chicago suburb of Franklin Park, which is part of Leyden Township. Evergreen Real Estate Group is the developer for the project, which is named Leyden Senior Apartments. The four-story residential building will also feature the new Carl Fiorito Senior Center, a one-story community center that will complement the apartments. Designed by Weese Langley Klein Architects and scheduled to open in summer 2026, the development is a collaborative effort between Leyden Township, Evergreen, owner Leyden Apartments LP and F.H. Paschen. Evergreen will also serve as property manager. The project site is 2.8 acres of vacant land located at the intersection of Mannheim Road and Nevada Avenue. The development is financed through multiple sources, including the Illinois Housing Development Authority, Bank of America, Hudson Housing, Leyden Township and the Cook County Department of Planning and Development. Mesirow Financial participated in the underwriting syndicate for the IHDA financing and served as the lead underwriter for Leyden Township’s General Obligation bond offering.
BLUE SPRINGS, MO. — Hanley Investment Group Real Estate Advisors has brokered the sales of two adjacent retail buildings in the Kansas City suburb of Blue Springs. The sales price was undisclosed, but the combined transaction size exceeded $5 million with a blended cap rate in the low 6 percent range. The single-tenant, net-leased properties are occupied by Heartland Dental (4,200 square feet) and Starbucks (2,312 square feet). Both were constructed in 2024. Jeff Lefko and Bill Asher of Hanley, in association with Jay Ferguson of Ferguson Properties Inc., represented the seller and developer of both buildings, Ferguson Properties and Foresight Real Estate. Peter Winterling of Kidder Mathews represented the buyer of the Heartland Dental-occupied property, a private 1031 exchange investor from California’s Central Valley. John Martin of Lee & Associates represented the buyer of the Starbucks-occupied asset, a private 1031 exchange investor from Southern California.