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6475-6485-W-Sunset-Rd-Las-Vegas-NV
AcquisitionsIndustrialNevadaWestern

Dalfen Industrial Sells Two-Building Sunset 215 West Industrial Portfolio in Southwest Las Vegas

by Amy Works

LAS VEGAS — Dalfen Industrial has completed the sale of Sunset 215 West, a two-building industrial portfolio in Southwest Las Vegas, to Southern California-based GF Properties for an undisclosed price. Located at 6475 and 6485 W. Sunset Road, the 80,000-square-foot property offers corporate office and industrial warehouse space. Michael Kendall, Gian Bruno, Kenny Patricia and Kylie Jones of Colliers’ West Industrial Capital Markets team marketed the portfolio and led the disposition and acquisition process. Dan Doherty, Paul Sweetland, Jerry Doty and Chris Lane of Colliers provided local market expertise. Completed in 2017, Building 1 (6475) is 35,000 square feet and fully leased to a single tenant, and Building 2 (6485) is 45,000 square feet and fully leased to two tenants. UFC, an organization that promotes mixed martial arts events, occupies approximately 70 percent of the project.

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1927-E-20th-St-Chico-CA
AcquisitionsCaliforniaRetailWestern

Marcus & Millichap Brokers Sale of 24,370 SF Big Lots-Occupied Building in Chico, California

by Amy Works

CHICO, CALIF. — Marcus & Millichap has arranged the sale of a retail property located at 1927 E. 20th St. in Chino. A private investor sold the asset to a private investor for $2.3 million. Big Lots occupies the 24,370-square-foot building on a net-lease basis. Teodor Vacev of Marcus & Millichap represented the seller and procured the buyer in the deal.

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DevelopmentMultifamilyNew JerseyNortheast

JLL Arranges Joint Venture Equity for 253-Unit Multifamily Project in Fort Lee, New Jersey

by Taylor Williams

FORT LEE, N.J. — JLL has arranged an undisclosed amount of joint venture equity for Modera Fort Lee, a 253-unit multifamily project in Northern New Jersey. The building, construction of which will begin before the end of the year, will rise 19 stories and offer studio, one-, two- and three-bedroom units with an average size of 972 square feet. Amenities will include a pool, fitness center, work pods, a rooftop terrace and various social gathering spaces. Jose Cruz and Ryan Robertson of JLL worked on behalf of the developer, Mill Creek Residential, to secure the equity investment with Kayne Anderson Real Estate.

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DevelopmentMultifamilyNew YorkNortheastSeniors Housing

B2K Development Completes 65-Unit Active Adult Community in Commack, New York

by Taylor Williams

COMMACK, N.Y. — New York-based B2K Development has completed Sutton Landing, a 65-unit active adult community in the Long Island hamlet of Commack. Sutton Landing is a resort-style property in the community’s downtown area that is reserved for renters age 55 and over. The property exclusively offers two-bedroom units and amenities such as a pool, fitness center and a game room. The first move-ins are now underway, and rents start at $4,500 per month.

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Leasing ActivityNew YorkNortheastRetail

Sportime Pickleball to Open 30,000 SF Facility in Yorktown, New York

by Taylor Williams

YORKTOWN, N.Y. — Sportime Pickleball will open a 30,000-square-foot facility in Yorktown, about 50 miles north of New York City. Set to open next fall, the facility will be located within Yorktown Green Shopping Center and will comprise 12 dedicated indoor courts, two party rooms, a lounge and a fully stocked pro shop. Curtis Nassau of RIPCO Real Estate represented the landlord, Oster Properties, in the lease negotiations. Brian Ripka, also with RIPCO, along with internal agent Daren Hornig, represented the tenant.

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Conference CoverageFeaturesNortheastNortheast Feature ArchivePennsylvaniaSeniors Housing

Stars Are Aligned for Healthy Seniors Housing Investment Climate in 2025, Says InterFace Panel

by John Nelson

The investment market for seniors housing is in a favorable position heading into the new year thanks to a confluence of factors, says Scott Corbin, director at Boston-based AEW Capital Management. The firm has roughly $3 billion in assets under management within this niche property type. “We’ve seen a full rebound in recovery. We’re not necessarily back to pre-pandemic [profit] margins, but we are getting close. We are seeing outsized NOI growth and outsized rent growth when you compare it to other asset classes. We have the demographic tailwinds. In addition, you have muted supply [growth],” explained Corbin, a panelist at the InterFace Seniors Housing Northeast conference, which took place Dec. 4-5 in Philadelphia. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. Joining Corbin on stage at Live! Casino & Hotel Philadelphia were moderator Kory Buzin, director, Blueprint Healthcare Real Estate Advisors; and panelists Curtis King, executive vice president, HJ Sims; Dennis Murphy, chief investment officer, Priority Life Care; Rick Swartz, senior managing director, JLL; and Shani Walter, managing director, Omega Healthcare Investors.  The daylong conference, …

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KansasMarket ReportsMidwestMidwest Market ReportsRetail

How to Transform the Retail Landscape in Topeka, Kansas

by Kristin Harlow

By Cody Foster, Advisors Excel Topeka, the capital city of Kansas, has a population of approximately 125,000 people, located in a 12-county region with over 531,000 residents. The region’s population has grown over the past five years and is expected to increase by another 2.1 percent between 2023 and 2028. With an unemployment rate of around 3.5 percent as of mid-2024, the city’s economic outlook remains stable, providing a solid foundation for redeveloping key commercial properties — including the West Ridge Mall, the third-largest indoor shopping center in Kansas at 992,000 square feet. Since it opened in 1988, the West Ridge Mall has been a significant part of the city’s commercial landscape. The site features ample parking and anchors the Wanamaker Road commercial corridor, the region’s most significant retail hub, which garnered $1 billion in retail, grocery and dining spending during the past 12 months.  However, like many malls nationwide, it faces challenges in a rapidly evolving retail environment. Retail trends: following consumer behavior The West Ridge Mall has seen a steady decline in business and occupancy over the last decade. Anchor stores Macy’s and Sears closed in 2012 and 2018, respectively.  Various management companies tried to keep the retail …

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Chick-fil-A
DevelopmentIndustrialKentuckySoutheastTop Stories

Chick-fil-A to Develop $100M Distribution Facility Near Cincinnati

by Hayden Spiess

ELSMERE, KY. — Chick-fil-A Supply, a wholly owned subsidiary of Chick-fil-A Inc. that handles the restaurant chain’s logistics and warehousing, has announced plans for a new, $100 million distribution facility in Elsmere, roughly 10 miles outside Cincinnati in Northern Kentucky.  Upon completion, the 270,000-square-foot development will be situated on a 28-acre site within 10 miles of Cincinnati/Northern Kentucky International Airport. Construction of the facility is currently underway, with the distribution center expected to be operational in 2026. According to a press release issued by the office of Kentucky Gov. Andy Beshear, the facility is expected to create more than 178 new permanent, full-time jobs over the next five years.  The new Chick-fil-A Supply facility will be located within the C5 Airport East Logistics Center, according to Link NKY. The newspaper also reported that Niagra Bottling will move into the same complex in 2026. Atlanta-based Core5 Industrial Partners is the owner of the industrial park, according to the company’s property page.  Chick-fil-A Supply currently operates nine distribution centers located in Georgia, North Carolina, Tennessee, Missouri, Ohio, Kansas and Texas. The centers support Chick-fil-A restaurants logistically and deliver ingredients and supplies. The Elsmere facility will support roughly 150 restaurants within the region.  Originally …

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Barton-Skyway-Austin
AcquisitionsOfficeTexas

Brandywine Realty Trust Sells Two Southwest Austin Office Buildings for $107.6M

by Taylor Williams

AUSTIN, TEXAS — Brandywine Realty Trust (NYSE: BDN), a Philadelphia-based REIT, has sold One & Two Barton Skyway, a pair of office buildings totaling 386,000 square feet in southwest Austin, for $107.6 million. The buildings are located at 1501 and 1601 S. MoPac Expressway within Barton Skyway, an office park that consists of four buildings on a 35-acre site. The City of Austin purchased the properties with plans to utilize them as a consolidated public safety headquarters. Brandywine retains ownership of Four Barton Skyway, which is currently 94 percent leased.

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AcquisitionsMultifamilyStudent HousingTexas

Investcorp Buys Three Student Housing Properties Totaling 1,962 Beds in Central Texas, Oklahoma

by Taylor Williams

NEW YORK CITY — Investcorp has purchased three student housing properties totaling 1,962 beds in Central Texas and Oklahoma. The unnamed assets include a 792-bed community that serves students at Texas A&M University in College Station; a 486-bed complex for students at Texas State University in San Marcos; and a 684-bed property that houses students at the University of Oklahoma in Norman. Investcorp acquired the properties, all of which were nearly fully occupied at the time of sale, as part of a portfolio deal that included a 699-bed community for students at the University of Kentucky in Lexington. The seller and sales price were not disclosed.

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