Property Type

Cronheim Hotel Capital Secures $39M Construction Financing for AC Hotel Knoxville Downtown

by John Nelson July 9, 2025

KNOXVILLE, TENN. — Cronheim Hotel Capital has secured $39 million in construction financing for AC Hotel Knoxville Downtown, a 161-room AC by Marriott-branded hotel that will be located at 427 Walnut St. and 416 Locust St. in downtown Knoxville. The non-recourse financing was structured with a 75 percent loan-to-cost (LTC) ratio and features a C-PACE component. The borrower, Vector Hospitality Inc., plans to deliver the seven-story hotel in winter 2026. The property will feature a rooftop bar and kitchen that will offer views of Neyland Stadium, home of the University of Tennessee Volunteers’ football team.

July 9, 2025

Acquisitions Office Southeast Tennessee

Gorney Realty Acquires 90,000 SF Office Building in Knoxville, Tennessee

by John Nelson July 9, 2025

KNOXVILLE, TENN. — Gorney Realty Co. LLC, a family-owned office and industrial investor based in Nashville, has purchased Cedar Ridge at Cedar Bluff, a 90,000-square-foot office building located at 480 N. Cedar Bluff Road in Knoxville. The seller and sales price were not disclosed. The five-story property was 93 percent leased at the time of sale to approximately 30 tenants, some of which have been occupants for nearly 20 years. Gorney Realty plans to upgrade Cedar Ridge at Cedar Bluff’s common areas, including the building’s lobby and restrooms.

July 9, 2025

Acquisitions Colorado Industrial Western

United Properties Sells 157,942 SF Industrial Facility in Denver for $25.5M

by Amy Works July 9, 2025

DENVER — United Properties has completed the sale of Enterprise Business Center Building 7 (EBC 7), an industrial building in Denver, to Dream US Industrial Fund, an entity of Dream REIT, for $25.5 million. Located at 9420 E. 40th Ave., EBC 7 features a clear height of 24 feet, ESFR sprinklers, high-end office/showroom build-outs and a large truck court. The 157,942-square-foot building was built in 2017 as part of the Enterprise Business Center campus. MIke Wafer, Tim Richey, Michael Wafer Jr., Mike Viehmann, Jack Richey and Sean Fitzgerald of Newmark represented the seller in the deal.

July 9, 2025

Acquisitions California Multifamily Western

Levin Johnston Arranges $18M Sale of Multifamily Portfolio in Santa Clara, California

by Amy Works July 9, 2025

SANTA CLARA, CALIF. — Levin Johnston of Marcus & Millichap has directed the $18 million purchase of a portfolio of three contiguous garden-style multifamily buildings on Bellomy Street in Santa Clara. Located at 1962, 1972 and 1978 Bellomy St., the portfolio offers 59 studio, one-, two-, three- and four-bedroom apartments spread across low-density, two-story buildings. Built in 1951, the buildings feature shared landscaped areas, an outdoor pool and surface parking. The Levin Johnston team procured a local investment group focused on value-add acquisitions as the buyer in the transaction. The name of the seller was not released.

July 9, 2025

Acquisitions Colorado Retail Western

Canopy Real Estate Partners Acquires Retail Center in Metro Denver for $15.8M

by Amy Works July 9, 2025

WHEAT RIDGE, COLO. — Denver-based Canopy Real Estate Partners has acquired Gold’s Marketplace, a neighborhood retail center located roughly six miles outside Denver in Wheat Ridge, for $15.8 million. Situated at 26th Avenue and Kipling Street, the 59,000-square-foot center was 83 percent leased at the time of sale to 17 tenants, including Illegal Pete’s, Esters Neighborhood Pub, Queen City Collective Coffee, Em’s Ice Cream and Rich Spirit Bagels.

July 9, 2025

Acquisitions California Industrial Western

Lee & Associates Brokers $3.4M Sale of Industrial Property in Fullerton, California

by Amy Works July 9, 2025

FULLERTON, CALIF. — Lee & Associates has arranged the acquisition of an industrial building located at 1041 S. Placentia Ave. in Fullerton. An undisclosed buyer purchased the property for $3.4 million. The buyer plans to repurpose the 9,982-square-foot building into a dental laboratory. The property features a clear height of 19 feet, a sprinkler system, two ground-level doors and a parking ratio of 1.9 cars per 1,000 square feet. John Son and Christopher Destino of Lee & Associates represented the buyer in the deal.

July 9, 2025

California Development Retail Western

Capstone Advisors Completes $1M Renovation of Mission Escondido Shopping Center in Metro San Diego

by Amy Works July 9, 2025

ESCONDIDO, CALIF. — Capstone Advisors has completed the $1 million renovation of Mission Escondido Shopping Center, a 41,530-square-foot shopping center located in Escondido, approximately 30 miles north of San Diego. The property was originally built in 1980. The renovation project included a contemporary design with a refreshed color palette and standing seam metal roof, as well as drought-tolerant landscaping, updated site and tenant signage and parking lot improvements. Additionally, the center is now fully leased to 14 tenants including Dongbu Korean BBQ, Prism Jiu Jitsu and Swan Hair Salon. AO and MW Peltz + Associates of Solana Beach designed the renovation, while Dowling Construction, San Diego Electric Sign, Pacific Western Painting, Pyle Landscape Care and Doo-Rite Roofing completed the project. Capstone Advisors acquired Mission Escondido Shopping Center in 2011 for $3.9 million.

July 9, 2025

Acquisitions Development Midwest Multifamily Ohio

Vision Cos. Acquires 28.5-Acre Multifamily Development Site in Kettering, Ohio

by Kristin Harlow July 9, 2025

KETTERING, OHIO — Vision Cos. has acquired 28.5 acres within the Miami Valley Research Park (MVRP) in Kettering, an inner suburb of Dayton. The property is adjacent to Industrial Commercial Properties’ (ICP) Sixth River office park. As part of the Sixth River overall master plan, Vision plans to build a market-rate multifamily community, the first large multifamily project built in the city since the mid-1980s, according to a release. Known as VC Flats, the project will feature approximately 264 apartment units across nine three-story buildings. Proposed amenities include a clubhouse, fitness center, pool, sand volleyball court, outdoor patio and rooftop deck offering views of the adjacent lake. The project is made possible through collaborative efforts by the city and ICP, which played a role in zoning adjustments and crafting incentive packages to attract a residential developer and operator. MVRP is home to several major employers, including Reynolds & Reynolds, Solvita, Matrix Research, Resonant Sciences, Woolpert, Resonetics and Eastman Kodak. ICP continues to retain ownership of the adjacent Sixth River office park, which includes 290,000 square feet of office space across five buildings. ICP also has additional land sites for further commercial development opportunities within the research park.

July 9, 2025

Acquisitions Kansas Midwest Office

Copaken Brooks Sells 147,000 SF Office Building in Overland Park, Kansas

by Kristin Harlow July 9, 2025

OVERLAND PARK, KAN. — An investment entity led by Copaken Brooks has agreed to sell 6201 College Boulevard, a landmark office building located at the intersection of Lamar Avenue and College Boulevard, to the City of Overland Park. The city plans to convert the 147,000-square-foot building into its future city hall. The sale is expected to close in the fourth quarter. Originally developed in 1990 by Copaken White and Blitt as the national headquarters for the NCAA, the property continues to serve as a multi-tenant office facility. While the ownership will change, Copaken Brooks will remain the property manager, as the city does not manage commercial buildings. The city will begin planning its transition of the space in the coming years.

July 9, 2025

Acquisitions Healthcare Midwest Missouri

Marcus & Millichap Arranges $6.3M Sale of St. Louis Medical Office Property

by Kristin Harlow July 9, 2025

ST. LOUIS — Marcus & Millichap has arranged the sale of a 62,856-square-foot medical office property located at 5500 S. Broadway St. in St. Louis for $6.3 million. The building was constructed in 2001 and previously operated as the Riverview Nursing Facility. Dan Yozwiak and Darpan Patel of Marcus & Millichap represented the undisclosed buyer, which plans to renovate and repurpose the building as a behavioral health center. The seller was a local husband-and-wife ownership group.

July 9, 2025

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