BERKELEY HEIGHTS, N.J. — Local developer The Connell Co. has broken ground on a 55,000-square-foot entertainment building at The Park, a 185-acre mixed-use development in the northern New Jersey community of Berkeley Heights. The building will be located within The District, a 60-acre section of the larger campus. Tenants that have committed to the new building include craft beer provider Emberside Brewery, Mexican restaurant Rosa Azul and speakeasy-style steakhouse and entertainment concept BASH. Completion is slated for 2026.
ROBERTSDALE, ALA. — Marcus & Millichap’s Taylor McMinn Retail Group in Atlanta has brokered the sale of a newly built gas station and convenience store in Alabama ground leased to Wawa. Delivered earlier this year, the 6,119-square-foot retail property is located on a 2.2-acre site at 18535 County Road 48 in Robertsdale, a suburb of Mobile. The property is situated across from a Walmart Supercenter and features a 20-year ground lease featuring rent increase and extension options. Don McMinn and Andrew Koriwchak of Marcus & Millichap represented the seller, a Florida-based developer, in the transaction. The locally based buyer purchased the location all-cash in an exchange. “This was the second Wawa location in the state of Alabama, and more are coming as Wawa continues its Southeast expansion into Alabama, Georgia and North Carolina,” says McMinn. The Robertsdale location is the second Wawa in Alabama that McMinn and Koriwchak brokered, the first of which was a store in Fairhope.
BUFFALO, N.Y. — Locally based financial intermediary Largo Capital has placed a $9 million loan for the refinancing of a 44-unit multifamily property in Buffalo. The name and address of the property, which exclusively offers two-bedroom units, were not disclosed. Kevin Coscia of Largo originated the loan, which was structured with a fixed interest rate and 10 years of interest-only payments. The names of the direct lender and borrower were also not disclosed.
WOBURN, MASS. — Nanoramic Laboratories has signed a 40,000-square-foot office and life sciences lease in Woburn, a northern suburb of Boston. The developer of lithium ion batteries for the automotive and aerospace industries will relocate from nearby Wakefield to 10 Commerce Way, which is owned by Cummings Properties. David Thomann of Cushman & Wakefield represented the tenant in the lease negotiations. Rob Yacobian and John Halsey represented the landlord on an internal basis.
PHILADELPHIA — honeygrow, a Philadelphia-based fast casual eatery known for made-to-order stir-fry, salads and honeybars, has signed leases to open four new restaurants in the Northeast. The restaurants will be located within the Lakeway Commons shopping center in Shrewsbury, Mass.; at the 150-acre Waldorf Station development in Waldorf, Md.; in the newly constructed Freehold Marketplace in Freehold, N.J.; and within Beltway Towne Center in Mechanicsburg, Pa. All openings are slated for 2025.
WOODINVILLE, WASH. — JLL Capital Markets has arranged the sale of Beaumont Apartments in Woodinville, approximately 20 miles northeast of Seattle. The asset traded for $136.1 million. David Young, Corey Marx and Chris Ross of JLL Capital Markets’ Investment and Sales Advisory team represented the undisclosed seller in the deal. The name of the buyer was not disclosed. Located at 14001 NE 183rd St., Beaumont Apartments offers 344 studio, one- and two-bedroom units, with an average size of 856 square feet. The apartments offer stainless steel appliances, keyless entry, mosaic tile kitchen backsplashes, undermount sinks, deep soaker-style bathtubs and French doors leading to private balconies. Community amenities include a fitness center, resort-style pool, terrace with barbecues and fire pit, fenced dog park and a coworking space. The three-story building was constructed in 2009.
IRVINE, CALIF. — Premier Design + Build Group has started construction on LogistiCenter at Irvine I & II, its first project in the Western region for developer Dermody Properties. The development will consist of two LEED-certified industrial facilities totaling 224,920 square feet. LogistiCenter at Irvine I will be a 133,320-square-foot freestanding building situated on six acres. The asset will feature 10,000 square feet of office/mezzanine space, a clear height of 36 feet, 15 dock doors with dock bumpers, one drive-in door and 108 parking stalls. Situated on an adjacent 4.4 acres, the 91,600-square-foot LogistiCenter at Irvine II will offer 8,200 square feet of office/mezzanine space, a clear height of 36 feet, 11 dock doors, one drive-in door and 74 parking stalls. Completion is slated for first-quarter 2025. The project team includes HPA Architecture, Darin Fong and Associates, Tait Engineering, Kier + Wright, Gregg Electric and Wallace P. Johnson Plumbing. CBRE is serving as the real estate broker for the development.
MONTEREY PARK, CALIF. — Coldwell Banker Commercial George Realty, on behalf of the private investor seller, has arranged the $38 million sale of the Holiday Inn & Suites hotel at 400 S. Atlantic Blvd. in Monterey Park. Details of the sale were not released. Completed in 2024, the six-story property features 136 guest rooms and 2,000 square feet of meeting space. The hotel is part of the Atlantic Times Square project, which has brought new development to the area south of I-10, west of downtown Los Angeles.
LAS VEGAS — Avison Young has negotiated the sale of El Camino Industrial Center, an industrial facility at 6260 W. Pebble Road in Las Vegas. A Las Vegas-based developer sold the asset to a California-based private investor for $10.3 million, or $290 per square foot. Built in 2023, the 35,446-square-foot El Camino Industrial Center features four dock doors, a clear height of 24 feet, two grade-level doors, ESFR sprinklers and a build-to-suit office. At the time of sale, the property was fully occupied. Chris Lexis and Joe Leavitt of Avison Young represented the seller, while James Griffis of Avison Young represented the buyer in the deal.
LAKE FOREST, ILL. — Urban Innovations has completed the renovation and expansion of the Consumers Credit Union headquarters building at 300 N. Field Drive in the Chicago suburb of Lake Forest. Urban Innovations led the 140,000-square-foot renovation of an existing three-story building, which the tenant purchased in 2022 to move its headquarters from Gurnee. The project for the company’s 500 employees entailed a new interconnecting grand staircase from the first floor to the basement. Amenities include a Starbucks with lounge, fitness center, large training room and cafeteria. Other project features include an upgraded lobby and reception desk, new executive offices, a 40-person boardroom, new conference and phone rooms, six coffee bars and pantries, and a refresh of existing finishes and lighting. Partners by Design was the architect.