KENNESAW, GA. — Marcus & Millichap has brokered the $8.2 million sale of Noonday Business Center, a 66,000-square-foot flex industrial facility located at 771 Shallowford Road in Kennesaw, a northwest suburb of Atlanta. Ani Paulson and Mason Bierster of Marcus & Millichap marketed the property for sale and also procured the buyer in the transaction. Both parties requested anonymity. Paulson says the buyer’s winning bid was for $230,000 over the asking price and came in at a 5.12 percent cap rate. Built in 2001 near State Route 92 and I-575, Noonday Business Park was fully leased to a diverse tenant mix at the time of sale.
RICHMOND, VA. — Girl Scout Commonwealth Council of Virginia Inc. has purchased an 18,375-square-foot flex building located at 3214 Skipwith Road in Richmond. The former tenant, Self-Help Credit Union, sold the commercial building for $3.6 million. Will McGoogan of Cushman & Wakefield | Thalhimer represented the seller in the transaction, and Amy Broderick and Kate Hosko, also with Thalhimer, represented the buyer. The Girl Scouts plan to move its current offices and retail center from nearby Willow Lawn to the new location. The organization plans to use the space as a storefront and install its administrative offices. The space will also feature collaborative areas for local Girl Scouts troops to have meetings.
MIAMI — CP Group has executed nearly 30,000 square feet of leasing agreements at The Landing at MIA, a 1.1 million-square-foot office campus in west Miami. The 11-building complex is situated on 50 acres directly adjacent to Miami International Airport. Gordon Messinger and Randy Carballo of CBRE represented CP Group in all eight lease transactions. The deals include Butler, Buckley, Deets Inc. (new 5,886-square-foot lease); CVS Health (5,716-square-foot renewal); Trane Inc. (new 5,100-square-foot lease); Harding Retail (new 3,390-square-foot lease); Patagonia Sea Farms (expansion to 3,163 square feet); Nomi Health (new 2,641-square-foot lease); The Ashvins Group (new 1,460-square-foot lease); and FleetMasters (new 1,231-square-foot lease).
VAIL, ARIZ. — Calmwater Capital has provided Moderne Communities with a $41.1 million loan to refinance Moderne at Rocking K, a build-to-rent property in Vail, a community 24 miles southeast of Tucson. Moderne at Rocking is situated within Rocking K, a 5,000-acre master-planned community. Delivered in two stages between November 2023 and September 2024, the 17.1-acre community features 224 single-story, single-family rental homes offering a mix of one-, two- and three-bedroom floor plans. Each home features open-concept living areas, a private yard and nine-foot ceiling. Community amenities include a beach entry pool and spa, pickleball courts, barbecue and firepit area, and fitness center. Malcolm Davies and RJ Opeka of Los Angeles-based Way Capital arranged the two-year senior loan for the borrower.
LOS ANGELES — A joint venture between Real Estate Development Associates (REDA) and Clarion Partners have completed construction of Union Commerce Center, a Class A warehouse/distribution facility at 3690 E. Union Pacific Ave. in central Los Angeles. Situated on more than 11 acres, Union Commerce Center offers 253,318 square feet of speculative industrial space. The development consists of a single 253,318-square-foot industrial building with a clear height of 36 feet, 35 dock-high doors with levers on all docks, two oversized grade-level doors, 41 trailer stalls, an ESFR K-25 sprinkler system, skylights, wide column spacing and ample expandable power. Union Commerce Center features a large-scale mural that wraps around a 500,000-gallon water tower, which serves the property’s fire sprinkler system. The mural was produced by local artist Downtown Daniel, an Angeleno more formally known as Daniel Antelo. Antelo’s work has been featured on walls and canvases nationwide, and he is recognized for his work with Nike, Kobe Bryant’s family, The Marathon Clothing and the LA Rams, Clippers and Dodgers. Cushman & Wakefield’s John Minervini, Erik Larson, Chris Tolles and Paul Sims are handling the leasing efforts of the property.
SAN RAMON, CALIF. — Madison Marquette has completed the sale of Valent Innovation Center, a two-story R&D building in San Ramon. Orion Office REIT acquired the asset for an undisclosed price as the first acquisition under its new entity. Located at 4600 Norris Canyon Road, Valent Innovation Center offers 96,535 square feet of research and development space, which is fully leased to Valent USA, a wholly owned subsidiary of Sumitomo Chemical. The asset was most recently renovated in 2022. Adam Lasoff, Erik Hanson, Rob Hielscher, Caroline Reynolds and Quinn O’Connor of JLL Capital Market’s Investment Sales and Advisory represented the seller in the transaction.
SOLANA BEACH, CALIF. — Capstone Advisors has purchased Beachwalk Shopping Center in Solana Beach from GEM Realty Capital for $32.1 million. Located at 437 S. Highway 101, the 55,580-square-foot asset consists of eight buildings offering a mix of retail, restaurant, medical and creative office space. Capstone Advisors plans to revitalize the center with physical improvements and a curated tenant roster focusing on food-and-beverage options, as well as health and wellness offerings. Two new tenants that reflect this focus are Pure Infrared Sauna and Lana Restaurant, which are currently under construction. Geoff Tranchina, Gleb Lvovich and Daniel Tyner of JLL Investment Sale and Advisory represented the seller in the deal.
COLORADO SPRINGS, COLO. — RBR Interquest R E LLC has completed the sale of a restaurant property at 1375 Interquest Parkway in Colorado Springs to Patterson Living Trust for $3.5 million, or $678 per square foot. Jared Goodman, Anne Spry, Aki Palmer and Cole VanMeveren of Cushman & Wakefield represented the seller in the deal. Fuzzy’s Taco Shop, a fast-casual restaurant serving Baja-style Mexican food, occupies the 5,160-square-foot property on a triple-net lease basis. Situated on 1.5 acres, the property features a large patio and 60 parking spaces.
PHILADELPHIA — Philadelphia-based Alterra IOS has acquired seven industrial outdoor storage (IOS) sites totaling 23 usable acres largely in the Midwest region. The purchase price was undisclosed. The sites are fully leased to a national telecommunications and broadband network company. Each parcel is located across metro areas in Dallas, Minneapolis, Indianapolis, Chicago, Nashville, Cleveland and St. Louis. Specifically, the properties are located in Haslet, Texas; Osseo, Minn.; Indianapolis; Frankfort, Ill.; La Vergne, Tenn.; Avon, Ohio; and St. Peters, Mo. All of the assets in the portfolio are located near city downtowns, interstate highways, international airports and rail networks. CRE Advising facilitated the acquisition.
SOUTH ELGIN, ILL. — JLL Capital Markets has brokered the sale of South Elgin Commons, a 94,508-square-foot retail center in South Elgin. The sales price was undisclosed. Built in 2011 and partially renovated in 2021 and 2024, the property is fully leased. Anchor tenants include Advocate Health Care, T.J. Maxx and Ross Dress for Less. Michael Nieder and Keely Polczynski of JLL represented the seller, PMAT Real Estate Investments. The buyer was L2 Partners LLC.