BRIDGEWATER, N.J. — JLL has negotiated the $54.3 million sale of The Village at Bridgewater Commons, a 92,461-square-foot retail center in Central New Jersey. A Summit Health medical facility anchors the 12.5-acre, open-air center, which was 98 percent leased at the time of sale to a roster with a weighted average remaining lease term of 7.4 years. Other tenants include Starbucks, Shake Shack, Cava and Chipotle Mexican Grill. Kevin O’Hearn and JB Bruno of JLL represented the seller, Pacific Retail Capital Partners, which acquired the property in 2023 as part of a larger deal for the adjacent Bridgewater Commons Mall, in the transaction. The buyer was Urban Edge Properties.
MADISON, WIS. — Moyer Properties has selected Nicholas & Associates, the construction management and general contracting arm of the Nicholas Family of Cos., to build Aster Flats, a 263-unit luxury apartment community in Madison. The three-building property will be situated on 4.9 acres. Nicholas & Associates will break ground Aug. 18, with construction taking place in phases. Completion is slated for February 2028. Designed by HKM Architects + Planners Inc., Aster Flats will offer studio, one-, two- and three-bedroom units ranging in size from 588 to 1,395 square feet. Amenities will include a clubhouse with a community lounge, entertainment kitchen and fitness and yoga center, a luxury pet spa, indoor bike room and an outdoor heated pool with a grilling terrace and courtyard area. Each of the three buildings will have one or two levels of heated indoor parking.
CHICAGO — Swanson, Martin & Bell LLP has signed a long-term headquarters lease restructure and renewal at 330 N. Wabash Ave. in Chicago. The 52-story riverside office tower is the last building in the U.S. designed by renowned architect Ludwig Mies van der Rohe. The property features 35,000-square-foot floor plates, floor-to-ceiling windows, 12-foot ceilings and panoramic views of the city. Dan Arends, Dougal Jeppe, Corby Marx, Joe Stevens and John Arends of Colliers represented the tenant, which is known nationally for its extensive jury trial experience. In addition to its Chicago headquarters, the law firm maintains six offices throughout the Midwest. The firm has grown from 13 lawyers in 1992 to over 140 lawyers in 30 practice areas today.
DAVISON, MICH. — Marcus & Millichap has brokered the $5.8 million sale of a 50,017-square-foot medical office property in Davison, a suburb of Flint. The two-suite office building is situated on 3.3 acres at 1515 Cal Drive. Built in 2003, the property is fully occupied by McLaren Health Management Group and The Cottage of Davison. McLaren provides home health, palliative care, hospice, home infusion, long-term care pharmacy and comprehensive laboratory services. The Cottage of Davison is a full-service memory care community. Jacob Keith and David Weinberg of Marcus & Millichap represented the seller, the owner and build-to-suit developer. A local OBR procured the buyer, a Michigan-based investor.
COLUMBUS, OHIO — Caddell Construction has opened a new corporate office in Columbus within Grandview Yard. Despite launching its first corporate office in the state, the company is not new to Ohio — its first job dates back to 1989. The move comes as Caddell continues to experience significant growth across Ohio and the Midwest, driven by increasing demand for mission-critical, advanced manufacturing, education and complex commercial projects. Vice President Justin Spafford will lead the Columbus office, which features gathering spaces at the front of the building. The expansion is supported by Caddell executive and longtime Columbus construction leader Bob Cunningham, who joined Caddell in early 2025. Alabama-based Caddell is a full-service general contractor with more than $24 billion in projects across 38 countries.
NEW YORK CITY — A joint venture between Global Holdings and MAG Partners will develop a 149-unit apartment building in Manhattan’s SoHo district. The new building at 122 Varick St. will include 5,000 square feet of ground-floor retail space, and 25 percent of the units will be designated as permanently affordable under New York City’s 485-x program. The joint venture is developing the building via a ground lease with Trinity Church, which was represented by Kevin Donner of Cushman & Wakefield in the negotiations. A construction timeline was not announced.
FARMINGDALE, HICKSVILLE AND OCEANSIDE, N.Y. — Northmarq has arranged $35 million in acquisition financing for a portfolio of five small-bay industrial properties totaling 275,891 square feet on Long Island. Three of the properties are located in Farmingdale, and the other two are located in Hicksville and Oceanside. The portfolio, which spans 13.9 acres and houses 40 suites, has maintained an average occupancy rate of 95 percent over the past five years. Ernest DesRochers and Charles Cotsalas of Northmarq arranged the seven-year loan through an undisclosed life insurance company. The borrower was also not disclosed.
LAKELAND, FLA. — JLL Capital Markets has negotiated the $67.7 million sale of three industrial buildings located within Lakeland Commerce Center in Lakeland, a city in Central Florida between Tampa and Orlando. Cody Brais, John Huguenard, Luis Castillo, Taylor Osborne, David Orta Jr. and Mia Gian of JLL represented the seller, Atlanta-based Stonemont, in the transaction. MDH Partners, also based in Atlanta, was the buyer. Positioned along the County Line Road corridor between I-4 and Lakeland Linder International Airport, Lakeland Commerce Center Buildings 100, 200 and 300 are three newly constructed, rear-load industrial buildings totaling 557,100 square feet. The property provides same-day delivery access to Florida’s residents, as well as logistics services throughout the Southeastern United States. Lakeland Commerce Center spans four buildings. MetLife purchased the fourth building, the 348,740-square-foot Building 400, for $50 million in March 2025.
WASHINGTON, D.C. — Cushman & Wakefield has arranged a $56.6 million loan to refinance The Ellington, a 190-unit luxury multifamily property located at 1301 U St. in Washington, D.C. John Alascio, Alex Hernandez, Marshall Scallan, Meredith Crawford and Will Wohlgemuth of Cushman & Wakefield secured the financing through New York Life Investors on behalf of the borrower, an affiliate of Atlanta-based Jamestown LP. Spanning nine stories tall, The Ellington comprises a mix of one- and two-bedroom apartments. Amenities include a fitness center, yoga studio, recreation room, coworking lounge, rooftop dog park, pet wash station, landscaped rooftop terrace and bike storage, along with 192 parking spaces. The site also includes more than 16,000 square feet of retail space, which is currently 93 percent leased to tenants including Street Markets, Roaming Rooster, 354 Restaurant and Eatopia Eatery. Since acquiring the property in 2018, Jamestown has invested more than $10.7 million in capital improvements, including upgrades to unit interiors, common areas and building systems.
ARLINGTON, VA. — NewPoint has provided a $34.6 million bridge loan for the acquisition and planned multifamily conversion of the Clarion Collection Arlington Court Suites, a 187-room, extended-stay hotel located in Arlington’s Rosslyn-Ballston corridor. Jacob Gabriel of NewPoint originated the financing on behalf of the borrower, Goodhomes Communities LLC. The bridge loan, which was used to finance the purchase of the hospitality property, includes future funding for capital improvements and is structured to support the borrower’s business plan to convert the asset into a multifamily community. Upon completion of the conversion, the property will offer a mix of studio, one-, two- and three-bedroom apartments. Goodhomes Communities LLC will announce the property’s new name at a later date. Clarion Collection Hotel Arlington Court Suites first opened as an apartment building in 1963.