COSTA MESA, CALIF. — Space Investment Partners has completed an $11 million renovation of The Ranch at Newport Bay, a 60,000-square-foot, grocer-anchored mixed-use retail property in Costa Mesa. The asset is located at 2651-2675 Irvine Ave. With the addition of Verde, a restaurant and bar concept, The Ranch is fully occupied. Verde, which opened in November, occupies two spaces in the neighborhood center encompassing 5,000 square feet. Created by Koire Rogers and Anthony Laborin, Verde features a highly developed beverage program in its lower-level Verde Bar and ingredient-driven seasonal California cuisine in its upper level restaurant. Additional tenants include Nike Training Studio (4,100 square feet), XPT Studio (900 square feet), Del Mar Wellness (1,350 square feet), Coffee Dose (1,300 square feet) and Tiny Tooth Pediatric Dentistry (2,091 square feet). Irvine Ranch Market, as the anchor tenant, occupies 17,500 square feet at the center.
Property Type
LAGUNA BEACH, CALIF. — CBRE has negotiated the sale of Sterling Plaza Apartments, a multifamily property in Laguna Beach. Located at 2607 Solana Way, Sterling Plaza features 12 one- and two-bedroom apartments, including a two-bedroom penthouse. The three-story, 9,823-square-foot property was built in 1962 and 1963. The property offers 14 parking spaces (11 carports plus three open spaces), an onsite laundry facility and the units are individually metered for electricity. Dan Blackwell and Mike O’Neill of CBRE represented the San Francisco Bay Area-based seller and the Los Angeles County-based buyer in the deal.
MESA, ARIZ. — Marcus & Millichap has arranged the sale of AMR Mesa – 222 E Main, a flex building in Mesa. A Spokane, Wash.-based limited liability company sold the asset to an undisclosed buyer for $5 million. Located at 222 E. Main St., the 22,722-square-foot building is used as flex/office space and is an AMR tenant under a nine-year lease with annual CPI adjusted rent escalations. The property was renovated in 2023. Brandon Kramer and Maxwell Rist of Marcus & Millichap represented the seller in the deal. Ryan Sarbinoff of Marcus & Millichap assisted in the closing, and Rob Cronenberg of Marcus & Millichap Capital Corp. provided up-to-date financing quotes.
ATLANTA — Portman has delivered Ten Twenty Spring, a new 530,000-square-foot office tower in Midtown Atlanta. The Class A office building is part of the locally based developer’s Spring Quarter mixed-use development that comprises the office tower, an apartment high-rise called Sora that opened last fall, street-level retail space and the historic H.M. Patterson Home and Gardens. Ten Twenty Spring features 32,000-square-foot floor plates and 10-foot floor-to-ceiling windows, as well as 15,000 square feet of private terraces and 20,000 square feet of amenity space. Sozou, a new Japanese restaurant from Chef Fuyuhiko Ito, will open at the office tower’s ground floor in summer 2025. The restaurant group will also open Omakase by Ito on the office tower’s eight-floor rooftop. Portman has tapped Glenn Kolker, Preston Menning and Malik Leaphart of Stream Realty Partners to lease Ten Twenty Spring.
Inland Acquisitions Buys 673-Bed Student Housing Community Near University of South Carolina
by John Nelson
COLUMBIA, S.C. — Inland Real Estate Acquisitions has purchased the Sawyer on Lincoln, a 673-bed student housing community located adjacent to the University of South Carolina campus in Columbia. Inland acquired the newly delivered property on behalf of an affiliate. The seller and sales price were not disclosed. Delivered in 2023, the 277-unit Sawyer on Lincoln features one-, two- and three-bedroom, fully furnished apartments with bed-to-bath parity. Shared amenities include private and group study rooms, a 24-hour fitness center, gated resident parking garage with 525 parking spaces, package locker system for parcels, social lounge with kitchen and TVs, resort-style pool with lounge seating and a hot tub and an outdoor courtyard with games. The Sawyer on Lincoln was fully occupied at the time of sale.
DE SOTO, KAN. — Contegra Construction Co. has completed a 1 million-square-foot distribution center at Flint Commerce Center in De Soto, a southwest suburb of Kansas City. Flint Development is the developer for the 370-acre industrial park. Panasonic has leased half of the building to support a nearby battery manufacturing facility under construction. Located at 10200 Edgerton Road, the cross-dock distribution center features a clear height of 40 feet. There are 98 dock doors with four drive-through doors, and parking is available for 515 cars and 251 trailers. The project team included Davidson Architecture and Engineering, BHC Civil Engineering & Surveying, PKMR Engineers, Wallace Engineering and CFS Engineers.
Kolter Multifamily Breaks Ground on 300-Unit Alton Nexus Apartments in Gallatin, Tennessee
by John Nelson
GALLATIN, TENN. — Kolter Multifamily LLC, along with its affiliates, has broken ground on Alton Nexus, a 300-unit apartment community in Gallatin, a Middle Tennessee city approximately 30 miles northeast of Nashville. The project represents the first apartment development outside of Florida for Kolter Multifamily, a subsidiary of Delray Beach, Fla.-based The Kolter Group. Alton Nexus will feature a mix of one-, two- and three-bedroom apartments, as well as a resort-style swimming pool with outdoor firepits, clubroom with a bar, coworking spaces and a fitness center with a yoga studio. The project is part of the Nexus master-planned development that features a business park, shops and restaurants. Kolter Multifamily expects to deliver Alton Nexus in winter 2026.
OVERLAND PARK, KAN. — Berkadia has arranged the sale of The Highlands, a 448-unit multifamily property in the Kansas City suburb of Overland Park. The community features one-, two- and three-bedroom units with two saltwater pools, a fitness center, renovated clubhouse and business center. Jason Parr, Scott MacDonald, John Hansen, Michael Spero and Niko Vrentas of Berkadia represented the seller, California-based St. Regis Properties LLC, and the buyer group, which acquired the property through San Francisco-based sponsor Hamilton Zanze & Co. Clay Akiwenzie of Berkadia arranged $53.3 million in permanent acquisition financing on behalf of the buyer. Fannie Mae provided the 10-year loan.
ETNA, OHIO — Omega Morgan has signed a full-building industrial lease totaling 250,020 square feet at The Cubes at Etna – Building D in Etna, about 20 miles east of Columbus. CRG completed development of the speculative facility in January. Located at 10300 Schuster Way, the building is part of The Cubes at Etna, a 305-acre master-planned industrial park. Building D was developed in partnership with an affiliate of LXP Industrial Trust. Omega Morgan works in specialized transportation, heavy rigging and machinery moving services. The company plans to utilize the building for distribution services to the Ohio Valley region. Building D features a rear-load design with a clear height of 36 feet, 32 fully equipped dock positions expandable to 50, 62 trailer stalls and a 60-foot speed bay. The building is supported by a 15-year, 100 percent tax abatement. The facility is located adjacent to the I-70 interchange at State Route 310. Joe Kimener of CBRE represented CRG, while Nick Tomasone of JLL represented the tenant. Contegra Construction served as the general contractor, and Lamar Johnson Collaborative was the architect. The Cubes at Etna has three remaining pad-ready sites that can accommodate build-to-suit users ranging from 250,000 to 800,000 square …
Trader Joe’s to Open 13,500 SF Grocery Store at Halcyon Mixed-Use Development in Metro Atlanta
by John Nelson
ALPHARETTA, GA. — RocaPoint Partners has announced that Trader Joe’s will open a new 13,500-square-foot grocery store at Halcyon, a mixed-use development in the north Atlanta region of Forsyth County. Located in Alpharetta near the Big Creek Greenway trail, the grocery store will be situated next to the new Chick-fil-A as part of the third phase of Halcyon, which recently celebrated its fifth anniversary of operation. Other committed tenants of Halcyon’s Phase III include Chewy Vet Care, Chase Bank and Five Guys. Halcyon also includes The Village Green central gathering space for events, offices for Morgan Stanley, an Embassy Suites by Hilton hotel, CMX CInebistro, X-Golf, a food hall, Cherry Street Brewpub and several shops and restaurants. The new Halcyon store will bring the number of Trader Joe’s locations in metro Atlanta to eight.