Picchio International secured a refinancing loan from Wilmington Trust for the 180 Maiden Lane office tower in Manhattan. The property, known as Continental Center, is LEED Certified and features amenities including a conference room, fitness center and retail space. The 1.2 million-square-foot, 41-story building's tenants include the New York City Department of Investigation, the National Debt Relief and the New York Liquidation Bureau.
Ares Management acquired three industrial properties in South Florida from Blackstone and Link Logistics. The properties include the Miramar Distribution Center, a 293,549-square-foot facility purchased for $69.4 million, another warehouse in Miramar for $25.7 million and the Port Everglades Distribution Center in Dania Beach for $25.4 million.
CIP acquired Imeson Commerce Center, a Class A industrial building from an undisclosed seller. The 422,136-square-foot building is fully leased to RoadOne. The property was completed in 2023 in Imeson Park, adjacent to Jacksonville's port section.
Duke Energy purchased a 4.6-acre site near Bank of America Stadium from Tepper Sports & Entertainment for $40 million, more than double the $15.5 million Tepper Sports paid in December 2021. The site, located at 1040 W. Morehead St., will be used to build a power substation.
A&N Food Market sold a building in Flushing, Queens, to Sun Long Hing and 168 J&C Holdings. The one-story, 24,600-square-foot building is located at 41-79 Main St. and houses Great Wall Supermarket. The buyers secured an $18.5 million loan from CTBC Bank for the property, which is undergoing renovations.
Marcus & Millichap facilitated the $8.6 million sale of Village Shoppes, a retail center in Miami's Little Havana. The 26,648-square-foot property, located at 503-533 SW 12th Ave., includes two parcels with multiple stores, 30 parking spaces, 325 feet of retail frontage and 40,000 square feet available for future development. The buyer was CMC VS and the seller was undisclosed.
The Green Companies secured a $51 million, 10-year fixed-rate loan from Goldman Sachs for the office component of the Dadeland South Metro Rail complex in Miami-Dade County. The financing is attributed to the property's direct access to mass transit and executive housing. The Dadeland Centre I and II buildings, completed in 2003 and 2008, are about 93% leased, with tenants including Steel Group and law firms Fields Howell and Cole, Scott & Kissane.
CBL Properties defaulted on a $50 million loan for Alamance Crossing, a retail center in Burlington, North Carolina. As a result, Spinoso Real Estate Group was court-ordered to manage the property and bring it to market. Located 22 miles east of Greensboro, the 456,742-square-foot property is anchored by Hobby Lobby, Carousel Cinemas, Barnes & Noble and Belk.
Four Mile Industrial Park, the largest industrial park in Spotsylvania County, Virginia, includes four buildings totaling 221,000 square feet of light industrial and warehouse space. The properties, located in Fredericksburg, Virginia, are fully leased to tenants including Capital Electric, Lennox, Blossman Gas, Flowers Bakery and Midsouth Building Supply. The properties are on 35.7 acres at 230 Industrial Dr., 11001 Houser Dr., 10935 Houser Dr. and 11200 Houser Dr.
RCG-Jacksonville PM, an LLC associated with Atlanta-based RCG Ventures, purchased the Burlington store in Jacksonville, North Carolina. The property includes a Sports Clips barber shop and other smaller stores. The seller, an LLC linked to American Finance Trust, acquired the property in February 2022 for around $10.5 million. RCG Ventures has been active in acquiring retail properties across the country, including recent acquisitions in Raleigh, Charlotte, and Western North Carolina.
Mesa Capital West provided the loan to refinance Rambler Athens, a newly constructed student housing complex near the University of Georgia. The four-year loan replaces the existing construction loan. The eight-floor property includes 342 units which range from studio to five-bedroom apartments. Amenities include a pool and hot tub, sun deck, fitness center, saunas and private study rooms.
Stream Realty Partners, a Dallas-based firm, acquired the two warehouses, both located in South Richmond. The properties, located at 4701-4949 Commerce Rd., are occupied by Amazon and Brother International. The warehouses total 900,000 square feet. This purchase follows Stream's acquisition of a 135-acre industrially-zoned plot in Chesterfield for $3 million in March.
Berkadia arranged a $60.8 million refinancing for Waterfall Hills at Canton, a multifamily property in Canton, Massachusetts, through Freddie Mac on behalf of Chestnut Hill Realty Investments. The property is close to downtown Boston, the I-95 and Gillette Stadium and features amenities such as a fitness center, pool, tennis court and dog park.
The Pinkard Group, a private equity firm based in Washington, D.C., acquired the Longwood Industrial Portfolio in Fredericksburg, Virginia for $38 million. The portfolio consists of four buildings totaling 221,000 square feet within the Four Mile Fork Industrial Park, the largest light industrial park in Spotsylvania County. The properties are fully leased to tenants including Flowers Bakery, Midsouth Building Supply, Capital Electric, Blossman Gas and Lennox.
Acadia Realty Trust acquired the retail building in Williamsburg, Brooklyn, from City Urban Realty. The property, located at 95 North Sixth St., was purchased by City Urban Realty for $5.3 million in 2022. The building includes two residential units and additional air rights, totaling 7,500 square feet of buildable space. Acadia has been actively acquiring properties in Williamsburg, including three retail properties in October.
RAM HQ II, an affiliate of Ramirez Asset Management, purchased the 95-year-old office building at 12 E. 52nd St. in Midtown Manhattan. The building, previously owned by Macklowe Properties, was initially intended for redevelopment into a 1 million-square-foot office tower. However, the redevelopment plans were never realized. Macklowe Properties acquired the building for $32 million in 2016. Another affiliate of Ramirez acquired a neighboring site at 14 E. 52nd St. in October 2023 for $19.5 million.
Demetree Global, a Winter Park-based real estate investment firm, acquired an office building at 4798 New Broad St. in Baldwin Park, Orlando, for $11.3 million from Owens Realty Services. The 44,478-square-foot building, built in 2008, houses tenants like Planet Fitness Corporate Club Support Center and a Bank OZK branch. Owens had purchased the building in 2016 for $8.5 million.
The complex, Elan Solea, includes 359 units and spans 400,640 square feet. A joint venture between Carlyle Group, Greystar and Butters Construction sold the property. The 45-acre site holds 10 buildings and 10 acres remain vacant.
Thorofare Capital provided a $73,070,000 bridge loan to Trevato Development Group to refinance The Residences at Enso, a Class A property in Jacksonville Beach. The loan will help retire the original bank construction loan and allow the sponsor to maximize NOI before a sale or refinance. The property, part of a larger mixed-use project, is over 90% occupied and features studio, one-, two- and three-bedroom luxury apartments and carriage houses. Amenities include stainless-steel appliances, quartz countertops, in-unit washers and dryers, a pool, a 24-hour fitness and training studio, a clubhouse, a pet spa and a nature trail.
Home Depot acquired a significant portion of a Watertown property for $72 million, which hosts one of its stores, from Boylston and JPMorgan Chase. Boylston retains ownership of part of the parcel at 615 Arsenal St., part of the Arsenal Yards mixed-use development and plans to develop a six-story, 175,200-square-foot lab building named 300 Forge on the site. The acquisition follows Boylston and a JPMorgan Chase unit's purchase of the site in 2022 for $96 million.
Asana Partners, a Charlotte-based real estate investment firm, expanded its Atlanta portfolio by purchasing the Shops of Dunwoody for $27.5 million and additional parcels for $7.5 million. The acquisition from Duluth-based Hudgens Company includes the shopping center and neighboring properties like Sunshine Car Wash and office buildings on Nandina Lane. This marks a significant expansion for Asana Partners, known for owning properties like Krog Street Market and Midtown Promenade, as it ventures into more suburban areas of Atlanta.
The transactions include:
Newmark facilitated the sale of the 132,207-square-foot office property at 40 Wight Ave. in Hunt Valley, Maryland. The office tower, built in 2017 and located near Hunt Valley Towne Center, 18 miles north of Baltimore, was 90% leased at the time of sale. The seller and the sales price were undisclosed.
Tishman Speyer acquired a 200-unit multifamily building in Montclair, New Jersey, for $96.1 million in an all-cash deal from Brookfield Properties. The property, which is 98% leased, includes market-rate and affordable apartments, retail space, and amenities such as a fitness center and roof deck.
The Boathouse Marine Center, a dry-stack marina in Pompano Beach, Florida, was sold for $16.1 million to BlueWater BMC, an affiliate of BlueWater Marinas. The transaction included the business operations and equipment. First United Bank and Trust provided a $12.5 million mortgage to the buyer.
Acadia Realty Trust acquired a retail co-op near Union Square for $46.8 million from SL Green Realty. The 13,000-square-foot property at 85 Fifth Avenue, previously leased to software company Piano, will now be leased long-term to Nespresso. The acquisition is part of Acadia's active year in acquiring retail properties across New York City, including recent purchases in Williamsburg, Brooklyn.
Onicx Group made its first acquisition in the Philadelphia area by purchasing the Merion Building for $11.8 million. The 71,800-square-foot medical office building, located at 700 S. Henderson Road, was acquired from American Healthcare REIT. The building, which was previously sold for $18.5 million in 2015, is now 75% leased with Main Line Spine as the anchor tenant. The acquisition was driven by the strategic location and the opportunity to improve occupancy rates through rebranding and aggressive leasing strategies.
LM Real Estate Partners acquired Oates Crossing, a four-building industrial park in Mooresville, for $48 million. The purchase includes 237,734 square feet of industrial space and approximately 8 acres for future development. The park is nearly fully leased to 15 tenants. The transaction was facilitated by JLL, with representatives Dave Andrews, Pete Pittroff, and Michael Scarnato involved in the deal.
Terra and Fortune International Group acquired oceanfront property on Key Biscayne, Florida, for $205 million, with $145 million in seller financing. The property, Silver Sands Beach Resort, will be redeveloped into a luxury condo development, marking a record land sale in Key Biscayne. The project will feature a 13-story building with 56 condo units and 221 parking spots, representing $3.6 million per planned unit. The development is the first condo project on Key Biscayne in decades and involves two active Miami developers.
LV Collective secured $133.9 million to refinance Rambler Athens, a student housing complex near the University of Georgia. Mesa West Capital provided the four-year loan to refinance the existing construction loan. The property, located at 558 West Broad Street, opened in 2024 and includes 342 units with various amenities.
The $184.2 million loan will go toward refinancing two fully leased industrial portfolios totaling 1.5 million square feet in the Miami-Dade and Northern N.J. markets. The Miami-Dade County portfolio, refinanced with an $87.7 million loan, comprises seven properties totaling 787,728 square feet and features 41 tenants across various industries. The six properties totaling 773,433 square feet in Northern N.J., refinanced with $96.5 million, are leased to nine tenants from assorted industries.
The company bought the building at 701 Ninth Street NW from Brookfield Properties. Brookfield bought the building in 2004 for $169.8 million. The company leasing the site, Pepco, will vacate the space as a result of the sale, but it'll still use portions of it for special events.
A JV between Dalan Management and Marcus Partners offloaded 10 East 33rd St. and 12 East 33rd St. to Han 533. The buyers didn't divulge their plans for the property. The JV recently upgraded the buildings' facades, elevators and lobbies.
The company sold its 116,486-square-foot office building near Miami Lakes to Miami Dade 17100. The property, previously leased entirely by Bank of America, was sold at $176 per square foot. The office, built in 1995, has faced challenges in attracting tenants and is currently vacant.
The organization sold its Park Slope property at 71 Lincoln Pl. to Adam America Real Estate. In addition to the childcare center, the property also includes 23,700 square feet of buildable residential space. The buyer is expected to keep the property a daycare center.
The company sold its ship-shaped building in High Point to The Steel Vessel Corp. This sale is part of Natuzzi's strategy of dumping non-strategic assets amid declining sales of its furniture business. The buyer plans to revamp the space for its own commercial needs.
The loan is to complete and lease-up Rabsky's planned multifamily tower in Downtown Brooklyn, nearly a year after sealing a $485 million loan for the recapitalization of the 39-story project. The 625 Fulton St. project is slated for completion in late 2025 and will consist of 303 studios, 475 one-bedroom apartments and 324 two-bedroom units. The property will also feature 54,000 square feet of retail space and amenities.
The company acquired Imeson Commerce Center, a recently completed 422,136-square-foot distribution center in Jacksonville, Fla. The seller was a JV between North Signal Capital and Fox Capital Partners. The center is fully leased to RoadOne IntermodaLogistics, an intermodal trucking provider.
The company purchased a 15,085-square-foot warehouse in Orlando from American Luxury Group. The property, built in 1998, was previously acquired by American Luxury Group for $1.8 million in 2021. Street Legal Products said the purchase was prompted by its need to acquire more space for its operations.
A JV between The Michaels Organization and GoVenture Capital Group purchased a collection of parcels slated for a 364-unit apartment building. The 12 parcels are located on Franklin St., with two more at 33 Arctic St. and 2 Keese St., and were sold by two private individuals. The 3.23-acre development site currently contains a mix of industrial structures and vacant lots, all of which will be demolished and replaced with a five-story residential complex.
Waukeshaw Development purchased the former Aetna office building in Henrico County for $3.8 million. The company plans to renovate the building to modern standards, including expanding the lobby and improving the façade. Aetna sold the building and vacated it once the sale went through.
The company sold its 519-unit collection of multifamily properties, located in Northern N.J. and called the Tag Portfolio. The portfolio was 97% occupied at the time of sale and features properties built between 1920 and 1980. Tuli Realty purchased the properties located in East Rutherford, Cliffside Park, Palisades Park, Lyndhurst, Garfield and Jersey City, while Sher Management acquired the Kearny property.
A JV between David Werner Real Estate Investments and Metro Loft Management will use the loan to purchase and redevelop 675 Third Ave. in Midtown South. The JV will transform the 335,000-square-foot office space into roughly 430 rental units. No other details were released.
The loan will finance Cosmo 440, a 216-unit multifamily redevelopment project in Newark. Cosmo 440 was originally built in 1969 as Carmel Towers, and YB Properties has been revamping the property, including redesigning floor plans and upgrading common areas. The building features 48 one-bedroom apartments, 120 two-bedroom units, 48 three-bedroom residences and amenities including a fitness center.
Exertis Almo has sold its Northeast Philadelphia headquarters to Cabot Properties, a Boston real estate investment firm. The 143,060-square-foot building is located at 2709 Commerce Way. Exertis said it'll enter a long-term lease agreement to continue operations at the location.
The company bought 150 Minuteman Rd. from BGO. Totaling 112,148 square feet, 150 Minuteman Rd. is part of the six-building Minuteman Park, a one-million-square-foot, master-planned R&D campus, and is fully leased to global medical technology company Smith+Nephew. The tenant has occupied the property since its construction in 2002.
The loan is to refinance the 1973-built Advenir at Magnolia. The 272-unit, garden-style community is located in Fern Park, Fla., an unincorporated northern suburb of Orlando. The building is currently 90% occupied and amenities include two resort-style pools, grilling stations, a 24/7 fitness center and business center, as well as laundry facilities.
Time Equities acquired The Shoppes at Westgate, a 62,049-square-foot shopping center in Rochester. The center, built in 1958 and renovated in 1986, was 91% leased at the time of sale to tenants. The seller of the retail center was undisclosed.
Badcock Home Furniture, a once prominent Southeastern brand, is undergoing a Ch. 11 bankruptcy as its parent company, Conn's, unloads its properties. The buyer of the Fla. property was an undisclosed company from Ga. The bankruptcy process began in Aug. 2024, leading to the winding down of operations and layoffs of the entire workforce and marking the end of Badcock's 120-year history in the furniture retail industry.
The company sold Hazlet Town Center, a 190,000-square-foot shopping center located in Hazlet. The center was 90% leased at the time of sale. LJL Realty was the buyer.
The Deptford Town Center, a 100,105-square-foot retail site in South Jersey, was sold to MSP Development. The property is 100% leased to six national retailers and a national bank. The buyer said the site is strategically located near major routes and the Deptford Mall, making it a prime location for commercial development.
Dilweg sold its Timberlake warehouse in Raleigh to DF Properties. The building is fully leased with a five-year average lease term, generating $630,000 annually in net operating income. Dilweg says the sale is a significant win for the company and its investors amid ongoing economic uncertainties.
The property at 1300 Liberty Ave. was sold by RICO to an out-of-state buyer. The 2,800-square-foot is located south of Route 22. RICO said the location's high visibility ultimately prompted the buyer to purchase the site.
The company purchased Avalon at Wesmont Station, a 406-unit luxury asset in Wood-Ridge, N.J. The seller was AvalonBay Communities. Following the acquisition, the buyer rebranded the property as Volair Wesmont. The complex was built in 2013 at 100 Rosie Sq. and includes amenities such as a swimming pool with sundeck, fitness center, work pods, barbecue courtyard and parking garage. The property also features 18,000 square feet of ground-floor retail space.
A JV between BLDG Management and Metrovest Equities secured the loan to refinance Gurney's Montauk Resort & Seawater Spa, a historic 158-key hotel in Montauk. Located at 290 Old Montauk Highway, Gurney's Montauk Resort & Seawater Spa opened in 1926 and was formerly known as Gurney's Inn. The resort underwent a $54 million renovation in 2014 after BLDG and Metrovest bought the property that same year.
A JV between Terra and Fortune International Group acquired the Silver Sands Beach Resort in Key Biscayne for $205 million, marking the largest property sale in the area. The developers plan to replace the existing hotel with a luxury residential property. The project includes a 13-story building with 56 units and 221 underground parking spaces, featuring amenities such as restaurants, a spa and a gym.
A JV between Real Estate Investments and Metro Loft Management said the loan is for the acquisition and pre-development of 675 Third Ave., a 32-story office building in Midtown Manhattan slated for conversion into 430 multifamily rental units. The seller was The Durst Organization. The JV also recently redeveloped the former Pfizer headquarters, nearby on 229 East 42nd St. in Manhattan, into 1,600 residential units.
The loan is for Lavista Business Park, a 217,496-square-foot industrial property located on 11.8 acres at 2000-2068 Weems Rd. in Tucker, Ga. The seller was ATCAP Partners, who sold the space for $37 million. Built in 1972, Lavista Business Park is 92% leased at the time of sale to 15 tenants.
The firm sold a retail showroom/warehouse in Coral Springs to NorthBridge. The property, measuring 106,289 square feet was last sold for $15.7 million in 2021. The sale is part of Midtown Development's recent property disposals in Broward County, including a retail center in Sunrise.
The company purchased a Medley trucking facility and warehouse from Estes Express Lines. The 27,372-square-foot warehouse is located on 8.4 acres at 7000 N.W. 60th St. Southeastern said the purchase supports its expansion plans in the Medley area.