Levin Johnston of Marcus and Millichap, among the top multifamily brokerage teams in the U.S., recently acquired a second Bay Area office in San Carlos to accompany its existing owned office in Los Altos. In addition, the team increased the annual number of deals it closed in 2024 by more than 50%, facilitating 80 transactions this past year as compared to 50 in 2023.

“The purchase of our San Carlos office highlights our team’s deep integration in this geographical market and projections for activity ahead in the region,” said Adam Levin, executive managing director of Levin Johnston. “While the economic landscape has presented challenges for the industry, Levin Johnston has thrived over the last two years and sees a bright future on the horizon.”

He continued, “The new office will allow us to better serve our clients and continue to be a market leader in Northern California. This expansion also sets a foundation to continue to grow our footprint outside the region as well.”

Center for Elders’ Independence (CEI) has signed a lease for approximately 23,000 square feet at Meridian’s recent medical office conversion, Broadway Medical Plaza in the Pill Hill area of Oakland. Sid P. Ewing of Colliers represented Meridian in the lease transaction, and Douglas Hubert and Steve Polito of Sabre Real Estate Group represented CEI for its sixth Bay Area location.

Located at 3901 Broadway, Broadway Medical Plaza was a former assembly hall within blocks of the UCSF Benioff Children’s Hospital, Sutter Health, and Kaiser medical campuses. Meridian acquired the 1.25-acre site and building in 2022 to convert it into a 60,000-square-foot medical facility along with a new parking structure.

“As soon as we toured this building, we knew it had the bones to repurpose for medical space,” said Meridian CEO Mike Conn. “It had great zoning and infrastructure, including the ability to house an ambulatory surgery center as well as the footprint to construct a 220-stall parking garage. We recently wrapped up construction of the shell and are eager to complete the CEI buildout.”

GBT Realty Corporation and Robinson Properties are teaming up on a new retail and multifamily development in Mount Juliet, Tenn., approximately 20 miles east of Nashville. Construction of the retail space is expected to begin this month and be completed in October 2025. A timeline and details of the residential development, to be developed by Robinson Properties, will be announced later.

Everett Downs is situated on a 10.9-acre site at the corner of Division St. and Mt. Juliet Rd. near I-40. The retail component, helmed by GBT Realty, will comprise a 41,255-square-foot neighborhood center. It features a 23,256-square-foot Sprouts Farmers Market, 18,000 square feet of small shop space and two out parcels. An additional 10,200 square feet and one out parcel remain available for restaurants, fitness services and soft goods retailers. This shopping center marks the 12th Sprouts-anchored property developed by GBT. 

Middleburg Communities and KDM Development will break ground next month on a 280-unit apartment community near Charlotte Douglas International Airport. Construction is slated to take two years. The $70 million project will include five buildings and will go up at 3309 West Blvd. The property is about five miles to uptown and 3.5 miles to South End.

The Charlotte Business Journal reports KDM secured two parcels for $7.7 million and reached out to Middleburg to partner. Middleburg will build the project.

West CLT will feature one-, two-, and three-bedroom apartments ranging from 789 to 1426 square feet. The property’s amenities include a pool, fitness center, dog park and pet spa, coworking spaces, package lockers and electric vehicle charging stations.

Construction financing for the project has been secured from Trustmark Bank, with CIBC as a participant. Phoenix Capital Partners has made an equity investment.

Cline Design Associates is the architect on the project.

Cushman & Wakefield has hired Julie Rice as a director of laboratory planning, based in San Francisco. Rice will plan facilities infrastructure to support the laboratory environment and expand the firm’s relationship between third-party life science clients and the firm’s internal life science team.

Rice has more than 30 years of experience in the Bay Area biotechnology industry in addition to 10 years of experience in laboratory and facilities management. Her work includes laboratory operations as well as business operations specifically within biotech, supporting companies who have been focused on small and large molecule drug discovery, cell and gene therapy, genomics and AgBio.

“We are thrilled to welcome Julie to our team,” said Jason D’Orlando, Cushman & Wakefield’s Americas life & technology science lead. “With her extensive expertise in laboratory operations and facilities management, Julie brings invaluable insight to our organization. Julie’s arrival marks an exciting chapter for our life sciences division as we continue to drive innovation and support the growth of our clients in this dynamic industry.”

Leaders From Rialto Capital Management, AEW, CIM, Rexford Industrial, EQR and Cushman & Wakefield come together on the Capital Markets panel at Connect Los Angeles 2024 on May 1 at the InterContinental in DTLA. Register now to hear from these industry experts and more. 

The Picklr, a fast-growing indoor pickleball franchise, celebrated the grand opening of the company’s location in Naperville this weekend. The Naperville club is within the Fox River Commons retail center and will be the first of three locations in the Chicago area, with other clubs set to open later this year.

The Picklr, Naperville, features nine indoor courts with high-quality outdoor style surfacing, a full pro shop, private event space, unlimited league play, tournaments, and open play. The Picklr signed a lease with Continental Realty Corporation for 27,333 square feet of space within the 241,000 square foot shopping center last year.

The Picklr offers an unparalleled pickleball experience for players of all skill levels. All locations offer professional-grade outdoor surfacing, best-in-class technology, and access to free leagues, tournaments, and clinics. In 2023, The Picklr announced plans to expand to eighty new facilities in eleven states. Pickleball Kingdom, another indoor pickleball franchise, also recently signaled its plans to open several state-of-the-art indoor pickleball clubs across Chicago.

Lincoln Property Company Southeast has been selected to manage Brown Thrasher Logistics Center, a Class-A industrial complex in Richmond Hill, GA outside of Savannah. Lincoln Senior Vice President Shane Froman, Senior Portfolio Manager Industrial Lead Kim Steward and Senior Portfolio Manager Natalie Matteson will oversee property management on behalf of the owner, Stonemont Financial Group.

Brown Thrasher Logistics Center is located within the Belfast Commerce Park off of Belfast Keller Road in Richmond Hill, just over a mile from I-95. The property offers 281,067 square feet of industrial warehouse space, with 40-foot clear heights, rear-load configuration, 238 trailer parking spaces and 213 auto parking spaces. The project broke ground in early 2022, and construction was completed this year.

The rail-served Belfast Commerce Park offers a premier location on 1,000 acres just 30 miles from the Port of Savannah and 20 miles from I-16.