The latest commercial real estate news and developments.
JLL Capital Markets has successfully closed a $7.5 million permanent loan to refinance a 64,376-square-foot retail and office property situated at 200 Pine Avenue in Long Beach, California. The transaction highlights the ongoing institutional interest in stabilizing mixed-use assets within the active Southern California coastal market.
BC Wood Properties has expanded its retail footprint with the $34.9 million acquisition of a 184,106-square-foot shopping center in Virginia Beach. The grocery-anchored asset features tenants Food Lion and T.J. Maxx.
Hanley Investment Group has brokered the $5.2 million sale of two newly built single-tenant car wash properties in Hesperia and San Bernardino. The transaction highlights sustained investor appetite for essential-service retail assets in the Inland Empire.
Ziff Real Estate Partners has acquired the 136,327-square-foot West Ashley Shoppes in Charleston for $22.6 million, expanding its portfolio in the metro's competitive retail submarket. The deal highlights continued investor appetite for well-located neighborhood shopping centers in growing Southeastern markets.
What began as a niche experiment is rapidly becoming a legitimate payment method in commercial real estate. As major firms adapt to decentralized finance, digital currencies are transforming how institutional players acquire and offload properties.
A boutique eight-unit multifamily property in Chicago's Lakeview East neighborhood has changed hands, highlighting sustained investor appetite for smaller, well-appointed residential assets in the city's North Side. Essex Three-Twelve brokered the transaction for the property located at 544 W. Wellington Ave.
Lendlease has commenced pre-leasing for 260 residential units situated within its broader Habitat mixed-use development in Los Angeles. The 12-story Habitat Residences building is slated to welcome its first tenants this spring.
Taurasi Group has secured $121 million in condo inventory financing from Madison Realty Capital for its newly completed 110-unit South End Lofts project in Hoboken, marking one of the largest development financings in the city this year.
Maxx Properties has acquired a 250-unit multifamily complex in Plantation, Florida, for $70 million from Bell Partners, marking the asset's second major trade in just a few years. CBRE Multifamily Capital backed the acquisition with a $55.1 million mortgage.
Preservation of Affordable Housing is launching a massive $40 million capital improvement campaign to renovate the 94-unit Corcoran Place Apartments. The comprehensive upgrade will bring new appliances, structural repairs, and an all-electric HVAC system to the West Side senior living community.
A 1.92-acre multifamily development site in Miami's Wynwood neighborhood has changed hands for $54 million, underscoring the persistent demand for residential build-to-rent opportunities in the city's trendiest submarkets. The transaction highlights the ongoing institutional interest in transforming underutilized commercial corridors near major transit arteries.
The brand behind the globally popular Labubu collectibles is expanding its physical retail presence in New York City with a significant new lease near Rockefeller Center. The move highlights how toy and entertainment brands are increasingly pursuing high-visibility brick-and-mortar locations.