Property Type

Marcus & Millichap Brokers $3.6M Sale of Retail Strip Center in Whitewater, Wisconsin

by Kristin Harlow August 29, 2024

WHITEWATER, WIS. — Marcus & Millichap has brokered the $3.6 million sale of Whitewater Plaza, a 24,211-square-foot retail strip center in Whitewater, about 50 miles southwest of Milwaukee. Located at 1139 W. Main St., the property is 94 percent occupied by tenants such as Jimmy Johns, Anytime Fitness, Cozumel Mexican Restaurant and Beijing Buffet. Dominic Sulo and Sam Malato of Marcus & Millichap represented the undisclosed seller. The buyer was also undisclosed. Todd Lindblom, broker of record in Wisconsin, assisted in closing the transaction.

August 29, 2024

Leasing Activity Midwest Missouri Office

Midas Construction Rebrands to Midas Building Group, Relocates Headquarters in Suburban St. Louis

by Kristin Harlow August 29, 2024

FENTON, MO. — Midas Construction is rebranding to Midas Building Group (MBG). The firm builds hospitality, multifamily and senior living projects throughout the Midwest with active projects in Missouri, Illinois, Indiana and Ohio. MBG is also settling into a new and larger headquarters on the Maritz Corporate Campus at 1400 S. Highway Drive in Fenton, a suburb of St. Louis. The company previously occupied 5,226 square feet in Clayton. MBG’s new 12,005-square-foot office in Fenton features a 5,076-square-foot warehouse space. Campus amenities include a fitness center, multiple auditoriums and conference facilities, a full-service cafeteria and walking trails. The MBG family of companies includes American Cabinet Factory and Collaborative Carpentry. The firm also maintains a regional office in Indianapolis.

August 29, 2024

Leasing Activity New York Northeast Office

Christie’s Extends 400,000 SF Office Lease at Rockefeller Center in Manhattan

by Taylor Williams August 29, 2024

NEW YORK CITY — Christie’s has extended its 400,000-square-foot office lease at Rockefeller Center in Manhattan for another 25 years. The art auctioning and appraisal company has been a tenant at the 100-year-old complex since 1997, and its footprint has comprised salerooms, public galleries, warehouses and office space. Mary Ann Tighe, Ramneek Rikhy, Cara Chayet and Courtney Hughson of CBRE, along with Jen Yashar and Danielle Frank of Fried Frank, represented Christie’s in the lease negotiations. EB Kelly represented the landlord, Tishman Speyer, on an internal basis.

August 29, 2024

Loans New York Northeast Retail

Largo Capital Arranges $9.3M Permanent Loan for Shopping Center in Orange County, New York

by Taylor Williams August 29, 2024

ORANGE COUNTY, N.Y. — Largo Capital, a financial intermediary based in upstate New York, has arranged a $9.3 million permanent loan for a shopping center in Orange County. The site is located near the nexus of New York, New Jersey and Pennsylvania. Grocer Save a Lot anchors the unnamed center, which totals 97,740 square feet and was 85 percent leased at the time of the loan closing. Jack Phillips of Largo Capital originated the debt. The direct lender and borrower were not disclosed.

August 29, 2024

Development Multifamily New Jersey Northeast

Hampshire, Pinnacle Open 40-Unit Apartment Complex in Montclair, New Jersey

by Taylor Williams August 29, 2024

MONTCLAIR, N.J. — A partnership between two New Jersey-based developers, The Hampshire Cos. and The Pinnacle Cos. has opened The Clair, a 40-unit apartment complex in the Northern New Jersey community of Montclair. The Clair offers studio, one- and two-bedroom units and amenities such as a clubhouse, business center and a rooftop terrace. Minno & Wasko Architects and Planners designed The Clair, construction of which was financed by OceanFirst Bank. Rents start at about $2,400 per month for a studio apartment.

August 29, 2024

Acquisitions Industrial Massachusetts Northeast

Marcus & Millichap Brokers $2.8M Sale of Vacant Industrial Building in Holliston, Massachusetts

by Taylor Williams August 29, 2024

HOLLISTON, MASS. — Marcus & Millichap has negotiated the $2.8 million sale of a vacant industrial building in Holliston, a southwestern suburb of Boston. The building at 91 Kuniholm Drive totals 52,000 square feet and features multiple loading docks and a clear height of 16 feet. Harrison Klein of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction. The new ownership plans to renovate the building to be able to support multiple small users.

August 29, 2024

Industrial Leasing Activity New Jersey Northeast

Vision Wheel Signs 32,456 SF Industrial Lease in Flemington, New Jersey

by Taylor Williams August 29, 2024

FLEMINGTON, N.J. — Vision Wheel Inc. has signed a 32,456-square-foot industrial lease in Flemington, about 60 miles southwest of Manhattan. The supplier and distributor of custom wheels and tires is taking space at Flemington Junction Business Center, a four-building development. Jason Fisch of Greek Real Estate Partners represented Vision Wheel in the lease negotiations. Rob Marek represented the landlord, locally based investment firm Larken Associates, on an internal basis. The deal brings the property to full occupancy.

August 29, 2024

Acquisitions Build-to-Rent California Single-Family Rental Western

Bascom Group Buys Old River Place Build-to-Rent Community in Bakersfield, California for $56.6M

by Amy Works August 29, 2024

BAKERSFIELD, CALIF. — Bascom Group has acquired Old River Place, a build-to-rent single-family multifamily property in Bakersfield’s Southwest submarket, from an undisclosed seller for $56.6 million, or $227,444 per unit. Annette Rice and Jamie Kline of JLL arranged the debt financing for the acquisition with TPG Real Estate Finance Trust as the lender. Mark Bonas of The Mogharebi Group led the firm’s investment sales team that represented the undisclosed seller. Apartment Management Consultants will provide property management services and SD-CAP will provide construction management. Old River Place features 249 two- and three-bedroom apartments in a low-density, single-family residential-style community.

August 29, 2024

Promenade-Shops-Orchard-Valley-Manteca-CA

Acquisitions California Retail Western

Grupe Huber Acquires 400,000 SF Promenade Shops at Orchard Valley in Manteca, California

by Amy Works August 29, 2024

MANTECA, CALIF. — Grupe Huber has purchased The Promenade Shops at Orchard Valley, a regional shopping center in Manteca, located east of the Bay Area and south of Sacramento. Terms of the transaction were not released. Guper Huber plans to revitalize the retail property. Situated on 54 acres, the asset offers nearly 400,000 square feet of retail space. Current tenants include Bass Pro Shop, AMC Theatre, JC Penney and Valley Fitness. Sutter Health recently leased 17,500 square feet of space and will open in early 2025. Built in 2008, The Promenade Shops at Orchard Valley is located off Highway 120 at Union Road. JLL handles leasing and management of the property.

August 29, 2024

Acquisitions Arizona Healthcare Office Western

Cushman & Wakefield Brokers Sale of 77,386 SF Gateway Medical Center in Phoenix

by Amy Works August 29, 2024

PHOENIX — Cushman & Wakefield has negotiated the sale of a medical office building, located at 690 N. Cofco Center Court in Phoenix. An entity managed by a subsidiary of LNR Partner sold the asset to an undisclosed buyer for $7.2 million. Built in 2002 on 4.8 acres, the two-story, 77,386-square-foot property is commonly known as Gateway Medical Center. At the time of sale, the multi-tenant property was 35 percent leased. The asset features a newly renovated, two-story lobby with a staircase, elevator service and covered canopy parking. Eric Wichterman and Mike Coover of Cushman & Wakefield’s Private Capital Markets in Phoenix represented the seller in the deal.

August 29, 2024

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