Monday, August 3, 2026
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MidwestRetail

AGREE REALTY BUYS TWO RETAIL PROPERTIES FOR $22.4M

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BROOKLYN, OHIO AND CHICAGO — Agree Realty Corp. (NYSE: ADC) has acquired two single-tenant assets leased to Sam’s Club and AutoZone for $22.4 million. The Sam’s Club property spans 147,771 square feet and is located in Brooklyn, Ohio, about 10 miles south of Cleveland. The AutoZone store spans 7,840 square feet on South Kedzie Road in Chicago. “With the acquisition of this Sam's Club, Walmart has now become the fourth largest tenant in our portfolio by rental revenue,” says Joey Agree, president and CEO of Agree Realty.

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MidwestRetail

REIT ACQUIRES 87,181 SF SHOPPING CENTER IN MINNESOTA

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SAVAGE, MINN. — Phillips Edison–ARC Shopping Center REIT Inc. has acquired Savage Town Square, an 87,181-square-foot shopping center located in Savage, a suburb of Minneapolis. Savage Town Square is fully occupied and anchored by a 68,860-square-foot Cub Foods grocery store, which is on a long-term lease until November 2023. The purchase price was undisclosed. The acquisition of Savage Town Square brings the REIT’s total portfolio to 42 grocery-anchored properties in 16 states with an estimated value of $533.5 million.

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MidwestOffice

25,000 SF OFFICE BUILDING IN CHICAGO AREA SELLS FOR $6.7M

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ROMEOVILLE, ILL. — Marcus & Millichap has arranged the $6.7 million sale of Rasmussen College Building, a 25,000-square-foot, Class B office property in Romeoville, located about 30 miles southwest of Chicago. Howard Wiese and John Abuja, investment specialists in Marcus & Millichap’s Chicago Downtown & O’Hare office, marketed the property on behalf of the seller, a limited liability company, and secured the buyer, an investor. Rasmussen College is the sole tenant of the property located at 1400 W. Normantown Road.

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HealthcareMidwest

CARTER VALIDUS BUYS MEDICAL FACILITY FOR $4.6M

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GOSHEN, IND. — Carter Validus Mission Critical REIT Inc. has purchased Fresenius Medical, a dialysis center property in Goshen, an eastern suburb of South Bend, for $4.6 million. The 15,462-square-foot medical facility was constructed in 2010 and is fully net leased to Fresenius Medical Care Nephrology Partners Renal Care Centers LLC, a company specializing in the operation of outpatient dialysis centers.

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MultifamilyNortheast

15-UNIT APARTMENT BUILDING IN NYC SELLS FOR $17.9M

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NEW YORK CITY — Marcus & Millichap has arranged the sale of 78 Irving Place, a 15-unit, 16,609-square-foot multifamily property located in New York City for $17.9 million. Peter Von Der Ahe, first vice president of investments, Joe Koicim, vice president of investments, and David Lloyd, investment associate, all from Marcus & Millichap’s Manhattan office represented the seller and buyer, both private investors. The seven-story residential building is located on the southeast corner of East 19th Street and Irving Place.

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MultifamilyNortheast

FANTINI & GORGA ARRANGES $12M LOAN FOR MILLCREEK TOWNHOUSES

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NORTH KINGSTOWN, R.I. — Fantini & Gorga has arranged a $12 million loan for the refinancing of Millcreek Townhouses, a 140-unit multifamily property in North Kingstown, a southern suburb of Providence. A Massachusetts-based financial institution provided the loan. Casimir Groblewski, managing director of Fantini & Gorga, arranged the financing on behalf of Millcreek LLC, an affiliate of The Grossman Cos. Inc. Located on 46 acres in the Quonset Point neighborhood of North Kingstown, Millcreek Townhouses features a clubhouse, extensive landscaping, a children’s playground, tenant picnic areas and five private fully paved roads. Millcreek includes two-, three- and four-bedroom units averaging more than 1,125 square feet.

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IndustrialNortheast

TERRENO REALTY CORP. BUYS INDUSTRIAL BUILDING FOR $6.8M

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WEST CALDWELL, N.J. — Terreno Realty Corp. (NYSE:TRNO) has acquired an industrial property located in West Caldwell, an eastern suburb of Parsippany, for $6.8 million. The property includes one multi-tenant 93,000-square-foot distribution building situated on 8.9 acres. The building is located at 1 Dodge Drive and is fully leased to a wholesale distributor of electrical products. The estimated stabilized capitalization rate of the property is 9 percent.

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NortheastOffice

UBS TAPS CASSIDY TURLEY TO LEASE, MANAGE 135 W. 50TH ST.

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NEW YORK CITY — UBS Global Asset Management has hired Cassidy Turley for the leasing, property management and project management of an 862,000-square-foot building located at 135 W. 50th St. in Manhattan. Built in 1963, tenants at the property include Time Inc., NBC Universal, Marvel Entertainment, Nintendo of America, Fareportal, Alliance Bernstien, Mizuho Trust & Banking, WeiserMazars, Bobby Van’s Grill and Duke Café. Led by Craig Evans, senior managing director of Cassidy Turley, the leasing team includes David Hoffman Jr., executive managing director and principal; Whitnee Williams, associate vice president; and Theodora Livadiotis, associate vice president. Jack Terranova, senior vice president and principal, will lead property management, and Joseph Yacovone of Cassidy Turley will provide project management services.

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MultifamilyTexas

PRESCOTT REALTY BEGINS $45M MULTIFAMILY DEVELOPMENT

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DALLAS — Prescott Realty Group has kicked off the development of an unnamed $45 million multifamily development in Dallas. Prescott has begun the abatement process of the existing White Rock Trail and Toscana apartment communities, which will be followed by demolition. The new Class A, 362-unit apartment community will incorporate a proposed public hike and bike trail connection to the upcoming Lake Highlands Trail and the existing White Rock Creek Trail. The new community is slated to open in late summer 2014.

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RetailTexas

HUNINGTON BROKERS SALE OF WOODLANDS GATEWAY PLAZA

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SPRING, TEXAS — Hunington Properties has arranged the sale of Woodlands Gateway Plaza, a 50,000-square-foot retail center located at the northeast intersection of Interstate 45 and Rayford Road in Spring. The property is 82 percent occupied by a mix of local and national tenants including Popeye's Chicken & Biscuits, Crabby Daddy's Seafood and the Woodlands Fish Market. Todd Carlson of Hunington represented the seller, an out-of-state investor who purchased the center in 2002. The buyer, a local investor, purchased the property in an all-cash transaction.

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