Property Type

Phillips Edison & Co. Buys Westgate North Shopping Center in Tacoma, Washington for $37M

by Amy Works April 29, 2025

TACOMA, WASH. — Phillips Edison & Co. has acquired Westgate North, a retail center in Tacoma. Located at 2601 N. Pearl St., Westgate North offers 74,789 square feet of retail space that is 97.9 percent leased to a mix of national and local tenants. Westgate North is shadow-anchored by Safeway. Other major tenants include Ace Hardware, Taco Bell, Chase Bank, Franciscan Health System and Anytime Fitness. Gleb Lvovich, Geoff Tranchina and Daniel Tyner of JLL Capital Market’s Investment Sales and Advisory team represented the undisclosed seller in the deal.

April 29, 2025

Acquisitions California Office Western

Bailard Sells 90,191 SF Office Property in Orange, California

by Amy Works April 29, 2025

ORANGE, CALIF. — Bailard has completed the disposition of an office property located at 725 West Town and Country Road in Orange. A local buyer acquired the asset for $15.4 million. The five-story, 90,191-square-foot is currently 62 percent leased to 12 tenants. Anthony DeLorenzo, Sammy Cemo, Bryan Johnson and Harry Su of CBRE represented the seller in the transaction.

April 29, 2025

Civic Colorado Development Industrial Office Western

Bryan Construction Completes Madera Cyber Innovation Center in Colorado Springs

by Amy Works April 29, 2025

COLORADO SPRINGS, COLO. — On behalf of the United States Air Force Academy, Bryan Construction has completed Madera Cyber Innovation Center, a cybersecurity training facility for cadets in Colorado Springs. The four-story, 48,800-square-foot facility will be home to Air Force CyberWorx, the Department of Computer and Cyber Science and the Institute of Future Conflict. The facility provides the essential laboratory and workspace environments for cadets engaged in critical disciplines, including cyber engineering, cyber law and cybersecurity forensics. Designed by Clark Nexsen, the facility features a structural glass wall system and a free-floating, self-supporting curvilinear staircase. Construction of project included an extensive communication and technology infrastructure with 29 miles of cabling integrated throughout the facility. Additionally, Madera Cyber Innovation Center meets UFC 4-023-03 standards for progressive collapse resistance.

April 29, 2025

Acquisitions California Retail Western

Hanley Investment Group Arranges $12.6M Sale of Shopping Center in Fullerton, California

by Amy Works April 29, 2025

FULLERTON, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the $12.6 million sale of North Euclid Shopping Center, a 41,219-square-foot shopping center located in the Orange County city of Fullerton. A 21,480-square-foot Stater Bros. Markets formerly anchored the property. The remaining space is fully leased to a barber shop, hair salon, family dentist, chiropractic office, H&R Block and multiple quick-service restaurants. Kevin Fryman, Eric Wohl and Ed Hanley of Hanley Investment Group represented the seller, Anaheim, Calif.-based Kraemer Land Co., and the buyer, an off-market local private investor, in the transaction. Kraemer Land Co. has managed North Euclid Shopping Center for 21 years.

April 29, 2025

Development Industrial Loans New Jersey Northeast Self-Storage

Fulton Bank Provides $14.9M Construction Loan for Self-Storage Project in Montvale, New Jersey

by Taylor Williams April 29, 2025

MONTVALE, N.J. — Fulton Bank has provided a $14.9 million construction loan for a 989-unit self-storage project that will be located in the Northern New Jersey community of Montvale. The three-acre site at 21 Phillips Parkway currently houses an 18,500-square-foot office building that will be demolished to accommodate the new climate-controlled facility. Jon Mikula, Michael Klein and John Cumming of JLL arranged the loan, which carries a 42-month term and a floating interest rate, on behalf of the developer, a partnership between Claremont Development, March Development and Battery Global Advisors.

April 29, 2025

Acquisitions California Industrial Lee & Associates Western

Lee & Associates Brokers $3M Sale of Industrial Property in Placentia, California

by Amy Works April 29, 2025

PLACENTIA, CALIF. — Lee & Associates | Orange has arranged the sale of an industrial asset located at 1101 Richfield Road within Miraloma Business Center in Placentia. Davcal sold the property to Chin Kim for $3 million. Originally built in 1991, the 7,492-square-foot warehouse facility features 400 amps, 120/208v, three-phase electrical service; 16-foot minimum warehouse clearance; two ground-level doors; 3,000 square-foot of office space, plus a second-floor office space; and easy access to local freeways. Jameson Hearne, Marshal Vogt and Bryan Miller of Lee & Associates | Orange represented the seller in the deal.

April 29, 2025

Loans Midwest Multifamily Wisconsin

MMCC Secures $10.1M Loan for Refinancing of Wisconsin Multifamily Property

by Kristin Harlow April 29, 2025

EAU CLAIRE, WIS. — Marcus & Millichap Capital Corp. (MMCC) has secured a $10.1 million loan for the refinancing of Alto Station Apartments in Eau Claire within western Wisconsin. The newly built apartment community is pre-leasing now and is slated to open in 2026, according to the property’s website. The 88-unit building is located at 325 Main St. and features a mix of studio to two-bedroom floor plans. Amenities include a fitness center, clubhouse, rooftop terrace and bike storage. Robert Bhat of MMCC arranged the loan with a local credit union on behalf of the private buyer. The loan features an interest rate of 6.75 percent and a 75 percent loan-to-cost ratio.

April 29, 2025

Leasing Activity Midwest Minnesota Retail

Transwestern Negotiates 66,100 SF Retail Lease in Burnsville, Minnesota

by Kristin Harlow April 29, 2025

BURNSVILLE, MINN. — Transwestern Real Estate Services has negotiated a 66,100-square-foot retail lease at Aurora Village shopping center in the southern Minneapolis suburb of Burnsville. The tenant is Soar N Bounce Trampoline and Adventure Park, which currently maintains locations in Michigan and Pennsylvania. The company plans to open 12 additional locations, including the site in Burnsville, which is slated to open in the first quarter in 2026. Brad Kaplan and Molly Townsend of Transwestern represented the owner, Aurora Investments LLC. Brian Weld and Tom Martin of Cushman & Wakefield represented the tenant. The lease marks the largest deal by square footage in the trade area since 2018, according to Transwestern. Aurora Village totals 122,323 square feet.

April 29, 2025

Acquisitions Midwest Ohio Retail

Cooper Group Arranges $4.5M Sale of Charles Schwab-Occupied Retail Property Near Cleveland

by Kristin Harlow April 29, 2025

COPLEY, OHIO — The Cooper Commercial Investment Group has arranged the $4.5 million sale of a single-tenant, newly built retail property occupied by Charles Schwab in Copley, a southern suburb of Cleveland. The banking office was built in 2023. There are approximately 13.5 years remaining on the lease with multiple rental increases and options to extend. Dan Cooper of Cooper Group represented the seller, a private investment group based in Ohio. The sales price represented a cap rate of 5.99 percent and $897 per square foot. The all-cash transaction closed in approximately 30 days.

April 29, 2025

Acquisitions Midwest Nebraska Retail

Marcus & Millichap Brokers $2.4M Sale of Retail Strip Center in Omaha

by Kristin Harlow April 29, 2025

OMAHA, NEB. — Marcus & Millichap has brokered the $2.4 million sale of Stonegate Plaza, a five-suite retail strip center in Omaha. The 13,648-square-foot, fully leased center is anchored by Sherwin-Williams, which has been a tenant for more than 20 years. Austin Sweet, Chris Garavaglia and Alex Perez of Marcus & Millichap represented the seller, a North Dakota-based investment group. A local investor was the buyer.

April 29, 2025

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