Thursday, July 17, 2025
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Kelvin-Lemon-Grove-CA
CaliforniaDevelopmentMixed-UseMultifamilyWestern

LLJ Ventures, Citymark Development to Open Kelvin Mixed-Use Community in Lemon Grove, California

by Amy Works

LEMON GROVE, CALIF. — LLJ Ventures and Citymark Development are nearing completion of Kelvin, a mixed-use community at 7950 Broadway in Lemon Grove in San Diego County. Slated for completion in early March, Kelvin features 66 studio, one-, and two-bedroom apartments ranging from 523 square feet to 1,058 square feet. The five-story building offers 4,043 square feet of first-level commercial space on a 0.92-acre lot near local dining, shopping and entertainment options. Additionally, Kelvin is near Freeway 94, Freeway 125 and the Lemon Grove Trolley Station. Pre-leasing is underway at Kelvin, which San Diego-based Sunrise Management is handling. Move-ins are scheduled the begin mid-March. Studio E Architects served as architect for the project, which is situated on the site of a former Barry’s Athletic Supply store, which operated on the site for 25 years until it relocated to another Lemon Grove location.

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AcquisitionsColoradoMultifamilyWestern

JTA Real Properties Divests of Multifamily Portfolio in Aurora, Colorado for $9M

by Amy Works

AURORA, COLO. — JTA Real Properties LLC has completed the disposition of a three-building multifamily portfolio, located at 1377-1397 Laredo St. and 16415 E. 14th Place in Aurora. Runt and Bro Laredo LLC acquired the portfolio for $9 million, or $115,500 per unit. The buyer plans to update and renovate the properties, which offer a unit mix of 69 450-square-foot one-bedroom/one-bath units and nine 400-square-foot studio/one-bath units. Marc Lippitt, Phil Dankner, Justin Herman, Will McCauley and Elliott Polanchyck of Unique Properties / TCN Worldwide handled the transaction.

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AcquisitionsColoradoIndustrialWestern

Unique Properties/TCN Worldwide Brokers $2.7M Sale of Warehouse in Golden, Colorado

by Amy Works

GOLDEN, COLO. — Unique Properties / TCN Worldwide has arranged the sale of a freestanding warehouse property located at 13280 W. 43rd Drive in Golden, just west of Denver. Baystone LLC sold the asset to Ted’s Sheds, the long-term tenant of the property, for $2.7 million, or $238.09 per square foot. The 11,240-square-foot building was professionally built-out and maintained as a manufacturing/woodworking shop with professional office space and an outdoor storage component. The building was originally built in 2000 and features a fully sprinklered interior and signage and visibility on Highway 58. Brett MacDougal and Michael DeSantis of Unique Properties / TCN Worldwide represented the seller in the deal.

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12831-12839-N-Cave-Creek-Rd-Phoenix-AZ
AcquisitionsArizonaRetailWestern

Red Mountain Group Sells Multi-Tenant Retail Property in Phoenix for $1.6M

by Amy Works

PHOENIX — Orange County, Calif.-based Red Mountain Group has completed the sale of a shopping center in Phoenix to North Creek LLC for $1.6 million. At the time of sale, the 5,587-square-foot property was fully occupied by four tenants. The asset is located at 12831-12839 N. Cave Creek Road in Phoenix. Jonathan Selznick of Lee & Associates represented the seller in the deal.

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AcquisitionsIndianaMidwestMultifamilyStudent Housing

Champion Real Estate Purchases 290-Bed Student Housing Community Near Purdue University

by Kristin Harlow

WEST LAFAYETTE, IND. — Champion Real Estate Co. has acquired Salisbury Campus Apartments in West Lafayette near Purdue University for an undisclosed price. The student housing community, which totals 85 units and 290 beds, will be rebranded as Victory on Salisbury. Champion now owns and operates 15 student housing communities totaling more than 4,300 beds at eight universities. Champion Salisbury LLC, a subsidiary of Champion, will begin renovations to the property once the current master lease with Purdue University expires in 2025. The community will receive new paint, vinyl plank flooring, cabinetry, quartz countertops, stainless steel appliances and modern fixtures. The asset will be leased by the bedroom and all bedrooms will be fully furnished. Scott Clifton, Teddy Leatherman, Kevin Kazlow, Jack Goldberger and Grace Picchiotti of JLL represented both Champion and the seller, Muinzer. Jeff Sause, Brian Halpern, Josh Blank and Ellie Conway of JLL arranged acquisition financing through a nonrecourse bridge lender on behalf of Champion.

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LoansMichiganMidwestMultifamilySeniors Housing

Colliers Mortgage Provides $21.6M Loan for Construction of Seniors Housing Complex in Michigan

by Kristin Harlow

MICHIGAN — Colliers Mortgage has provided a $21.6 million construction loan for an independent living, assisted living and skilled nursing property in Michigan. The project will feature 105 units in a variety of studio, one- and two-bedroom units. Amenities will include a main dining room, bistro, lounge and large community spaces. The loan features a 48-month term with one 12-month extension option. Christopher Fenton and Catherine Eby of Colliers Mortgage, along with Nick Skarich and Kevin McMahon of Colliers Funding, originated the loan on behalf of the undisclosed borrower.

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AcquisitionsMidwestMinnesotaMultifamily

JLL Brokers Sale of Two Multifamily Properties in Metro Minneapolis

by Kristin Harlow

RICHFIELD AND NEW HOPE, MINN. — JLL Capital Markets has brokered the sale of Southdale Parc Apartments and Wingate Apartments in metro Minneapolis for an undisclosed price. Both properties are located in inner-ring suburbs of Minneapolis. Built in 1962 and totaling 69 units, Southdale Parc Apartments is located in Richfield. The community features one-bedroom units with onsite laundry facilities, a Luxor package system, green spaces and onsite parking. Built in 1967 and totaling 136 units, Wingate Apartments is located in New Hope. The property features one- and two-bedroom units with amenities such as a pool, patio, basketball court, playground and clubroom. Dan Linnell, Mox Gunderson, Josh Talberg, Adam Haydon and Devon Dvorak of JLL represented the seller, Centerspace, and procured the buyers, both local private investors.

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AcquisitionsMidwestNebraskaRetail

Hanley Investment Group Arranges $7.7M Sale of Topgolf-Occupied Property in Omaha

by Kristin Harlow

OMAHA, NEB. — Hanley Investment Group Real Estate Advisors has arranged the sale of a Topgolf-occupied property in Omaha for $7.7 million. The property marks the first and only location for Topgolf in Nebraska. Located at 908 N. 102nd St., the asset neighbors a Chipotle Mexican Grill, X-Golf and a future nine-acre mixed-use development. The 24,496-square-foot Topgolf building was constructed in 2020. The Omaha Topgolf facility features 72 climate-controlled hitting bays, a full-service restaurant, bars, private event space, a rooftop terrace and more than 200 HDTVs. Jeff Lefko and Bill Asher of Hanley represented the seller and developer, a private investor based in Omaha. Ashish Wadhwani of Wadhwani Holdings represented the buyer, a private investor based in metro Houston.

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AcquisitionsIllinoisIndustrialMidwest

Clear Height, ICP Funds Acquire Two Industrial Buildings in Northbrook, Illinois

by Kristin Harlow

NORTHBROOK, ILL. — A joint venture partnership between Clear Height Properties and ICP Funds has acquired two light industrial buildings in Sky Harbor Industrial Park in Northbrook, a northern suburb of Chicago. The purchase price was undisclosed. The multi-tenant buildings total 93,059 square feet and are fully leased. The properties are located on Landwehr Road and Era Drive. Sean Devaney, Kurt Sarbaugh and John Huguenard of JLL brokered the transaction.

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Xfinity-Live-Philadelphia
DevelopmentNortheastPennsylvaniaRetail

Comcast Spectacor, Cordish to Undertake $12M Renovation of Philadelphia Sports Complex

by Taylor Williams

PHILADELPHIA — Philadelphia-based Comcast Spectacor, in partnership with Cordish Cos., a Baltimore-based developer specializing in sports-anchored entertainment districts, will undertake a $12 million renovation of the Xfinity Live! sports complex in South Philadelphia. The project will deliver a variety of upgrades to the development’s main public plaza, including the addition of several new terraces and gathering spaces. Comcast Spectacor and Cordish will also make various improvements to interior spaces and building exteriors. Construction will be carried out in phases, will full completion slated for late 2025 or early 2026.

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