Property Type

Kraus-Anderson Completes 23,800 SF Office Build-out for Värde Partners in Minneapolis

by Kristin Harlow November 1, 2024

MINNEAPOLIS — Kraus-Anderson (KA) has completed the office build-out for Värde Partners at North Loop Green in Minneapolis. The new office tower is located at 350 N. 5th St. Värde Partners is a global alternative investment firm specializing in credit and credit-related assets. Designed by ESG Architecture & Design, the 23,800-square-foot office features a spacious lobby and reception area. In addition to offices, there are conference rooms, versatile workspaces, a café and wellness rooms. KA worked on the office build-out with JLL Project & Development Services, the construction manager. In May, KA completed construction of North Loop Green, which comprises the 365,000-square-foot office building as well as a 449-unit apartment tower. The project team for North Loop Green included developer Hines and ESG Architecture & Design.

November 1, 2024

Acquisitions California Industrial Western

Ardmore Home Design Purchases 282,377 SF Industrial Property in City of Industry, California for $59.9M

by Amy Works November 1, 2024

CITY OF INDUSTRY, CALIF. — Ardmore Home Design, a luxury wholesale furniture manufacturer and the building’s tenant, has acquired an industrial property in City of Industry for $59.9 million. Situated on 13 acres at 918 S. Stimson Ave., the 282,377-squared-foot distribution facility features 24- to 30-foot clear heights, 34 dock-high doors, two grade-level doors, 28 trailer stalls and 150 auto stalls. Patrick Nally, Makenna Peter, Mark Detmer and Even Moran of JLL represented the seller, while Rick Sherburne of HRS Commercial represented the buyer in the deal.

November 1, 2024

Acquisitions Hawaii Multifamily Seniors Housing Western

Joint Venture Acquires 70,000 SF Upscale Retail Center in Waikoloa, Hawaii

by Amy Works November 1, 2024

WAIKOLOA, HAWAII — A joint venture between Pacific Retail Capital Partners, Starwood Property Trust and Taconic Capital Advisors has purchased Kings’ Shops, a retail property in Waikoloa. Terms of the transaction were not released. Tenants at the nearly 70,000-square-foot Kings’ Shops include Tiffany & Co., Tommy Bahama, Tori Richard, Travis Matthews, Lululemon, Kahala, Roy’s Waikoloa Bar & Grill by Chef Roy Yamaguchi, Foster’s Kitchen and A-Bay’s Island Grill. The property also offers venues for live entertainment, including music and fire dancing, weekly farmers markets and monthly night market events.

November 1, 2024

Acquisitions Colorado Multifamily Seniors Housing Western

Bow River Capital Sells Two-Property Seniors Housing Portfolio in Colorado for $30M

by Amy Works November 1, 2024

GREELEY AND GRAND JUNCTION, COLO. — Bow River Capital has completed the disposition of a two-property seniors housing portfolio in Colorado. An undisclosed buyer acquired the 140-unit, fully private-pay seniors housing portfolio for $30 million. Completed in 2020, the two-story The Lodge at Greeley, located at 4430 24th St. in Greeley, offers 92 units in a mix of 20 independent living, 48 assisted living and 24 memory care units within studio and one-bedroom layouts. At the time of sale, the property was fully occupied. The pet-friendly community offers a beauty salon, library, fitness center, private event rooms, an outdoor dining area and restaurant-style dining. Completed in 2019, The Lodge at Grand Junction offers 48-unit, 50-bed assisted living and memory care units in studio and one-bedroom layouts. The pet-friendly community offers a beauty salon, media room, therapy and exercise room, a chapel and restaurant-style dining. The JLL Seniors Housing Capital Markets team represented the seller in the deal.

November 1, 2024

Acquisitions Colorado Industrial Western

Unique Properties Brokers $5.4M Sale of Warehouse Building in Aurora, Colorado

by Amy Works November 1, 2024

AURORA, COLO. — Unique Properties / TCN Worldwide has arranged the sale of an industrial warehouse facility located at 11601 E. 33rd Ave. in Aurora. The asset traded for $5.4 million. Trane occupies the 24,536-square-foot building under a long-term, single-tenant net lease agreement. The property features a large, fenced yard, one platform dock and three drive-in doors. Sam Leger and Graham Trotter of Unique Properties / TCN Worldwide represented the undisclosed seller in the deal. The name of the buyer was not released.

November 1, 2024

District-Green-Valley-Ranch-Henderson-NV

Development Nevada Retail Western

Vestar Underway on $3M Renovation Project at 385,000 SF Retail Center in Henderson, Nevada

by Amy Works November 1, 2024

HENDERSON, NEV. — Vestar is underway on a $3 million renovation project at The District at Green Valley Ranch, a 385,000-square-foot retail development located in Henderson, roughly 15 miles outside Las Vegas. Scheduled for completion in early 2025, the project includes updates to exteriors, signage, lighting, landscaping and outdoor furniture. Additionally, the project will add 14,300 square feet of new space to the property. New tenants Flower Child and North Italia have also signed leases at the development and are scheduled to open this month.

November 1, 2024

Acquisitions Kentucky Multifamily Southeast

Commercial Kentucky, Cushman & Wakefield Broker Sale of 1,460-Unit Multifamily Portfolio in Louisville

by John Nelson November 1, 2024

LOUISVILLE, KY. — Cushman & Wakefield|Commercial Kentucky and Cushman & Wakefield have brokered the sale of a five-property multifamily portfolio totaling 1,460 units. MF Capital purchased the portfolio from Brown Capital for an undisclosed price. The properties include Boulder Creek Apartments, Eagles Eyrie Apartments, Lyndon Crossings, Devonshire Apartments and Partridge Meadows. The portfolio sale represents the largest real estate transaction in Kentucky this year and is also one of the largest transactions in the history of multifamily sales in the state, according to Commercial Kentucky. Craig Collins and Austin English of Commercial Kentucky, along with Mike Kemether and James Wilber of Cushman & Wakefield, represented the seller in the transaction.

November 1, 2024

Alabama Florida Loans Multifamily Southeast

Greystone Provides Two Agency Loans for Multifamily Communities in South Florida, Birmingham Totaling $103.7M

by John Nelson November 1, 2024

TAMARAC, FLA. AND BIRMINGHAM, ALA. — Greystone has provided a pair of Freddie Mac loans totaling $103.7 million for the refinancing of two multifamily communities in South Florida and Birmingham. The deals include a $37.3 million loan for Midora at Woodmont, a 199-unit community in Tamarac, and a $66.4 million loan for Avenues of Inverness, a 586-unit property in Birmingham. The agency loans for both properties carry seven-year terms, fixed interest rates, five years of interest-only payments and 35-year amortization schedules. The borrower for both loans is Monsey, N.Y.-based White Eagle Property Group.

November 1, 2024

Development Industrial South Carolina Southeast

Capital Development Partners Delivers 160,250 SF Industrial Facility Adjacent to Port of Charleston

by John Nelson November 1, 2024

CHARLESTON, S.C. – Capital Development Partners has delivered Shipyard Creek, a new 160,250-square-foot transload industrial facility that offers direct access to the Port of Charleston. Situated on a 42-acre site adjacent to the port’s new $1.3 billion Hugh K. Leatherman Terminal, the property was designed to handle container movement from users including retail importers. Shipyard Creek features 153 dock doors, 724 trailer parking spaces and onsite storage parking that can accommodate five stacked shipping containers. Capital Development Partners has tapped Lee Allen, Kevin Coats and Tyler Smith of JLL to handle the project’s leasing assignment. Shipyard Creek enjoys access to the port’s marine terminals, as well as interstates and the upcoming SC Ports Navy Base Intermodal Facility, which will be dual-served by Norfolk Southern and CSX.

November 1, 2024

Acquisitions Florida Retail Southeast

Cohen & Steers, Acadia Realty Trust Purchase Open-Air Shopping Center in Tampa

by John Nelson November 1, 2024

TAMPA, FLA. — Funds managed by Cohen & Steers and the investment management business of Acadia Realty Trust have entered into a joint venture to purchase The Walk at Highwoods, an open-air shopping center in Tampa. The seller and sales price were not disclosed. The 141,000-square-foot property was fully leased at the time of sale to national and local tenants including HomeGoods, Michael’s, F45 Training, Dunkin’ and European Wax Center.

November 1, 2024

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