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Keva-Flats-Exton-Pennsylvania
DevelopmentMultifamilyNortheastPennsylvania

Hankin Group Breaks Ground on 96-Unit Multifamily Project in Exton, Pennsylvania

by Taylor Williams

EXTON, PA. — Locally based developer Hankin Group has broken ground on Phase II of Keva Flats, a two-building, 96-unit multifamily project in Exton, about 35 miles west of Philadelphia. Phase I of Keva Flats featured 242 units in one-, two- and three-bedroom floor plans across six buildings. Amenities include a fitness center with yoga and Pilates studios; resort-style pool with a sundeck; outdoor grilling stations, fire pits and lounges; an 11,000-square-foot clubhouse; outdoor multi-sports court; and a rooftop terrace. Completion of Phase II is slated for fall 2026.

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AcquisitionsMassachusettsNortheastRetail

CBRE Brokers $14.2M Sale of Shopping Center in New Bedford, Massachusetts

by Taylor Williams

NEW BEDFORD, MASS. — CBRE has brokered the $14.2 million sale of Kings Plaza, a 168,000-square-foot shopping center in New Bedford, located near the base of Cape Cod. The center is home to tenants such as Savers, Ocean State Job Lot, McDonald’s, FunZ Trampoline Park and EC Barton Home Outlet. Nat Heald and Jordana Roet of CBRE represented the seller, Virginia-based REIT Cedar Realty Trust, in the transaction. The buyer was a undisclosed private investor.

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AcquisitionsMultifamilyNew YorkNortheast

Ariel Property Advisors Arranges $3.6M Sale of Brooklyn Apartment Building

by Taylor Williams

NEW YORK CITY — Locally based brokerage firm Ariel Capital Advisors has arranged the $3.6 million sale of a six-unit apartment building located at 151 Smith St. in the Boerum Hill neighborhood of Brooklyn. The four-story building consists of five market-rate apartments and one rent-stabilized apartment, as well as two retail spaces. Sean Kelly, Nicole Daniggelis and Stephen Vorvolakos of Ariel represented the seller, Doreen DeLeon, in the transaction. The buyer was Faisal Kassim.

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Leasing ActivityNew YorkNortheastOffice

17Capital Signs 16,298 SF Office Lease in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — Private equity firm 17Capital has signed a 16,298-square-foot office lease in Midtown Manhattan. The firm will relocate and expand from SL Green’s 77-story One Vanderbilt tower to the entire 29th floor of 10 Bryant, a 30-story building located at 452 Fifth Ave., in early 2026. Paul Glickman, Ben Bass, Kristen Morgan and Kate Roush of JLL represented the landlord, Property & Building Corp. Ltd., in the lease negotiations. David Mainthow and Troy Elias of Cushman & Wakefield represented the tenant.

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3300-Waltham-Way-Sparks-NV
AcquisitionsIndustrialNevadaWestern

EQT Exeter Purchases 1.1 MSF USA Parkway Distribution Center in Sparks, Nevada

by Amy Works

SPARKS, NEVADA — EQT Exeter has acquired USA Parkway Distribution Center I and II, an industrial park totaling 1.1 million square feet within Tahoe-Reno Industrial Center in Sparks, from an institutional investor for an undisclosed price. Situated on 45.9 acres at 3300 Waltham Way and 201 Ireland Drive, USA Parkway Distribution Center I and II are cross-dock distribution buildings that offer a total of 135 dock-high doors, nine grade-level doors and 120- to 130-foot truck courts with four 60-foot concrete dock aprons. The asset was fully leased to five tenants at the time of sale, including Tesla and The Tire Rack, which occupy 70 percent of the property. Brett Hartzell, Rebecca Perlmutter and Paige Morgan of CBRE National Partners represented the seller in the deal. Erick Bennett, also with CBRE, served as the local market expert.

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5-Peters-Canyon-Rd-Irvine-CA
AcquisitionsCaliforniaOfficeWestern

TP-Link Systems Closes $40.6M Acquisition of 157,455 SF Office Building in Irvine

by Amy Works

IRVINE, CALIF. — TP-Link Systems, as an owner-user, has purchased 5 Peter Canyon Road in Irvine from a joint venture led by Pendulum Property Partners for $40.6 million, or $258 per square foot. Situated on 9.5 acres, the 157,455-square-foot office building offers an onsite café, outdoor patio, a renovated lobby and more than 700 parking spaces. At the time of sale, the three-story building was 87.9 percent leased to a variety of tenants. Anthony DeLorenzo, Sammy Cemo, Bryan Johnson, Matt Didier, Jennifer Whittington and David Dowd of CBRE represented the seller, while Eric Purmort, also with CBRE, represented the buyer in the transaction.

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Paradise-Hills-Shopping-Center-Phoenix-AZ
AcquisitionsArizonaRetailWestern

Westwood Financial Buys 83,787 SF Paradise Hills Shopping Center in Phoenix

by Amy Works

PHOENIX — Westwood Financial has acquired Paradise Hills Shopping Center, a retail property in Phoenix, from Abbington Emmerson Investments for an undisclosed price. Located on 7.5 acres at 10604-10622 N. 32nd St. and 3110-3116 E. Shea Blvd., Paradise Hills Shopping Center offers 83,787 square feet of retail space occupied by 16 tenants, including Ace Hardware, Pet Supplies Plus and Uptown Jungle, along with an artisan bread shop, memorabilia store, home entertainment studio, salons, barber shop and five restaurants and bars. Mindy Korth and J.K. Jackson of Colliers’ Phoenix office, along with El Warner and Caitlin Zirpolo of Colliers in Irvine, Calif., represented the seller in the deal.

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1330-30th-St-San-Diego-CA.jpg
AcquisitionsCaliforniaIndustrialWestern

GID Industrial Acquires 105,469 SF Trolley Industrial Center in San Diego for $27.2M

by Amy Works

SAN DIEGO — GID Industrial Acquisition has purchased Trolley Industrial Center, a multi-tenant, light industrial property in the San Ysidro submarket of San Diego, for $27.2 million. Bryce Aberg, Jeff Chiate, Jeffrey Cole, Matthew Leupold and Ryan Demerest of Cushman & Wakefield represented the seller, Washington Capital Management, in the deal. Originally built in the mid-1980s, Trolley Industrial Center has since been renovated and now offers 105,469 square feet of industrial space that is fully leased to three tenants. The building features a variety of bay sizes, 24-foot clear heights and grade-level and dock-high doors. The property is situated on 5 acres at 1330 30th St.

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9660-Kiefer-Blvd-Sacramento-CA
AcquisitionsCaliforniaNet LeaseRestaurantRetailWestern

Marcus & Millichap Facilitates Purchase of 3,500 SF Starbucks-Occupied Retail Property in Sacramento

by Amy Works

SACRAMENTO, CALIF. — Marcus & Millichap has arranged the acquisition of a restaurant property located at 9660 Kiefer Blvd. in Sacramento. An individual/personal trust acquired the asset from an undisclosed seller for $2.6 million. Starbucks Coffee occupies the 3,500-square-foot property on a 15-year, corporate net-lease basis. Yuri Sergunin and J.J. Taughinbaugh of Marcus & Millichap’s Palo Alto, Calif., office represented the buyer, while Cushman & Wakefield represented the seller in the deal. The transaction included a 1031 exchange for the buyer.

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DevelopmentMidwestMissouriMultifamily

Subtext to Develop 259-Unit Apartment Complex in Suburban St. Louis

by Kristin Harlow

UNIVERSITY CITY, MO. — Subtext, in partnership with Larson Capital Management, has acquired nearly two acres at 6650 Delmar Blvd. in the St. Louis suburb of University City for the development of LOCAL on Delmar. The five-story, 259-unit apartment complex will be situated in the city’s Delmar Loop entertainment district just north of Washington University in St. Louis. Construction is slated for completion in summer 2026. LOCAL on Delmar will offer a mix of studio, one-, two- and three-bedroom layouts, including townhomes. There will also be 399 parking spaces in an attached five-story garage and more than 7,000 square feet of shared amenity spaces, including a work-from-home hub, wellness suite, gym, yoga studio, pool terrace and clubroom. The project team includes ESG Architecture & Design, Brinkmann Constructors and Stock and Associates Consulting Engineers Inc. First Mid Bank & Trust is the lender.

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