CLIFTON, N.J. — Nashville-based brokerage firm Matthews has negotiated the $4.4 million sale of a portfolio of three contiguous mixed-use buildings totaling 14,500 square feet in the Northern New Jersey community of Clifton. The buildings at 233, 235 and 237 Dayton Ave. house one- and two-bedroom apartments in addition to commercial space. David Ferber of Matthews represented the undisclosed seller in the transaction. The name and representative of the buyer were not disclosed.
MARLBOROUGH, MASS. — Advocates, a nonprofit organization that supports people with behavioral health disorders, disabilities and brain injuries, has signed a 95,182-square-foot office lease in the western Boston suburb of Marlborough. The deal brings the 160,649-square-foot building at 251 Locke St. to full occupancy. Alison Powers and Robert Walles of JLL represented the landlord, Related Beal, in the lease negotiations. Jon Pezzoni of Avison Young represented Advocates.
NEW YORK CITY — National construction firm JT Magen has completed a 42,000-square-foot office project in Midtown Manhattan that is a build-to-suit for auction house Bonhams. Bonhams is relocating from a 32,000-square-foot space at 580 Madison Avenue to the four-story space at 111 W. 57th St., which will serve as the company’s new flagship location. Gensler served as the project architect.
SALT LAKE CITY — Seefried Industrial Properties, in partnership with Clarion Partners, has broken ground on a speculative industrial development at 4950 West 1100 South in Salt Lake City. The project is the firms’ first joint development in the Salt Lake City market. Slated for completion in third-quarter 2027, the development will feature 265,000 square feet of Class A industrial space across two buildings. The buildings will include approximately 79,465 square feet office space, 52 dock-high doors, 12 grade-level doors and 268 parking spaces. The development is designed for logistics, distribution and light manufacturing users. Big-D Construction is serving as general contractor for the project. AE Urbia Architects is architect of record, and Dominion Engineering is serving as civil engineer. Tom Freeman, Jeremy Jensen, Travis Healey and Rob Parise of Colliers are handling marketing and leasing efforts for the development.
FOLSOM, CALIF. — USA Properties and Strand Financial has sold Talavera, a 293-unit apartment property in Folsom, located outside of Sacramento. New York-based Sentinel Real Estate acquired the property for an undisclosed price. Marc Ross, Eli Hanacek, Joe McNamara and Claire Holt of CBRE represented the sellers in the deal. According to CBRE, Talavera is the first property to become available in the Folsom submarket in four years. Located at 1550 Broadstone Parkway, the four-building community features studio, one- and two-bedroom apartments. The elevator-served property also offers a pool, hot tub, courtyard, fitness center, package lockers, pet spa, EV charging stations, fire pits, resident garages, 506 parking spaces and a DIY (do it yourself) workshop.
SEATTLE — Nordic Partners Investments has acquired Monticello, a 107-unit apartment building located at 415 Boren Ave. in Seattle’s First Hill neighborhood, for an undisclosed price. Built in 1957, Monticello spans 42,342 net rentable square feet. Dylan Simon, Jerrid Anderson and JD Fuller of Kidder Mathews’ Simon | Anderson Multifamily Team represented the undisclosed seller and sourced the buyer in the off-market transaction.
MESA, ARIZ. — LevRose Commercial Real Estate has arranged the $5.2 million sale of an industrial flex property located at 4220 E. McDowell Road in Mesa. The 2.3-acre site houses a 20,544-square-foot industrial flex building that was built in 2006. The building features 15,494 square feet of office space, professional reception area, large bullpen work area, 14-foot by 14-foot grade-level door, fully secured yard and 18 covered parking spaces. Mark Cassell, Landon McKernan, Cameron Miller and Joe Jones of LevRose Commercial represented the undisclosed seller in the deal, while Gary Cornish of Newmark represented the undisclosed buyer.
ATLANTA — Atlanta-based Stonemont and PCCP have acquired an industrial portfolio for approximately $1 billion. According to multiple media outlets, the seller was Link Logistics, a subsidiary of Blackstone. The portfolio — which spans 5.9 million square feet across 38 bulk and light-industrial buildings — is spread across 14 markets in 10 states, including Austin, Central Florida, Charlotte, Dallas and Phoenix. The portfolio was 95 percent leased at the time of sale. The recently acquired assets complement Stonemont’s existing industrial portfolio and growing development pipeline, which currently includes more than 15 million square feet across 1,150 acres. Eastdil Secured arranged acquisition financing through JP Morgan and Wells Fargo on behalf of Stonemont and PCCP.
FORT LAUDERDALE, FLA. — Affiliated Development has received a $74 million construction loan for the development of The Cove, a 376-unit, mixed-income multifamily project located on the northwest corner of Sunrise Boulevard and Federal Highway in Fort Lauderdale. Pacific Life Insurance Co. provided the loan for the development, along with equity from the Affiliated Development Housing Impact Fund and family office capital partners. In addition, the developer secured tax rebates from Broward County and the City of Fort Lauderdale, as well as zoning priority and incentives via Florida’s Live Local Act. Moss Construction will serve as general contractor for The Cove. Situated on the site of a former hotel property, the $123 million multifamily project will reserve 55 percent, or approximately 207 apartments, for individuals and families earning up to 120 percent of the area median income (AMI). The Cove will also feature a resort-style amenity package and a parking garage.
PIEDMONT, S.C. — Brennan Investment Group has acquired a 157,412-square-foot industrial facility located in Piedmont, about 12 miles from Greenville. Completed in 2023, the building is situated within Exchange Logistics Park, a 900,000-square-foot, multi-building industrial park. The seller requested anonymity, and the purchase price was also not disclosed. The recently acquired building features 32-foot clear heights, ESFR fire protection, LED high-bay lighting, a 135-foot truck court and abundant dock-high loading. The facility is currently occupied by two unnamed tenants and includes 65,000 square feet of vacant space. Brennan also plans to complete “move-in ready” improvements, such as speculative office space.