The Sigmund Companies (TSC) and Broadview Real Estate Partners acquired Groton Shoppers Mart, a 171,858-square-foot open-air, grocery-anchored shopping center at 955 Poquonnock Rd. in Groton, CT. The purchase price was not disclosed.

Owned and operated by a private investor since construction in 1961, Groton Shoppers Mart is anchored by national convenience and necessity-oriented retailers, including Big Y, CVS Pharmacy, Chase Bank, Starbucks and others.

TSC will operate the property in a joint venture with Broadview. Atlantic Capital Partners represented the owner in the sale, and Atlantic Retail will handle the leasing and management.

“As an established epicenter in a growing New England community, Groton Shoppers Mart aligns with our thematic open value strategy, which targets convenience and necessity retail in need of strategic intervention across the United States, and will be provided with the expertise and capital to fortify the center’s long-standing legacy,” said D. Wright Sigmund, TSC managing partner.

The Rush Companies, in partnership with Village Concepts, has broken ground on a new senior living community, Village Concepts of Lake Stevens.

The four-story, 125,062-square-foot facility will deliver 140 units of independent living, assisted living, and memory care services to Snohomish County. Village Concepts of Lake Stevens will include 120 independent and assisted living units, 20 memory care units, and 72 surface parking stalls, including 4 EV charging stations. The property amenities will include a wellness center, theater, game and club rooms, library, salon, family kitchen, and secure, memory care courtyard.

Located at 9035 28th Place NE, the development is being built by Rush Commercial Construction, designed by Wattenbarger Architects, and financed by Rush Capital. Operations will be managed by Village Concepts.

“We’ve immensely enjoyed being a part of the community of Marysville since we opened Grandview Village in 1987, and we’re excited to expand our services throughout the area and reach those with memory care needs,” said Stuart Brown, CEO of Village Concepts. 

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories.
With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.

TMG Real Estate Advisors (TMG) announced the promotion of Andris Lizenbergs, Rob Prioletti and Jimmy Yfantopulos. Since last year, they have collectively completed transactions totaling 1.3 million square feet valued at over $106 million.
– Lizenbergs, who recently celebrated five years with TMG, has been promoted to senior vice president. Specializing in industrial tenant representation both locally and nationally, Lizenbergs has worked with companies across industry sectors. 
– Prioletti has been promoted to vice president. Rob has completed several complex transactions since joining the TMG team three years ago.  As part of TMG’s Supply Chain Solutions team, he focuses on the greater O’Hare market while also fulfilling client needs nationally.
– Yfantopulos has been promoted to senior advisor. Since joining TMG  less than two years ago, he has quickly developed into a client advisor in the Fox Valley submarket.

Apprise, a Walker & Dunlop, Inc. company, announced its strategic expansion in the Midwest region, adding five industry experts to its team. Led by Alex Hoenig, MAI, who joins as a Regional Managing Director for the Midwest, the new team brings a wealth of experience and expertise to further strengthen Apprise’s presence in the region. Joining Alex are Andy Kopek, Scott Peirce, Scott Lunan, and Sean Haar, who have a combined 60+ years of experience in commercial property valuation and consulting, including property appraisals, market and feasibility studies, and tax appeals.

The Apartment Source, a real estate firm specializing in multifamily real estate, announced that Tyson Schutz, owner and managing broker of the company, has been awarded the 2023 Chicago Association of REALTORS Platinum Rental Top Producer award. This marks the company’s fifth consecutive year winning the award, solidifying themselves as a leader in the Chicago real estate market. 

Spring Arbor Senior Living, an operator of assisted living and memory care communities, promoted Susan Durr to senior vice president, divisional operations for the Midwestern region. In her new role, she oversees 13 communities across five states, based in Spring Arbor’s newest corporate location in Springfield, Missouri.

Sitting in JLL’s Minneapolis office, Managing Director Josh Talberg continues to hold his leadership position on the multi-housing investment sales team. Talberg has played a pivotal role in shaping JLL’s Capital Markets Group in Minneapolis and is responsible for institutional investment sales advisory, recapitalizations and joint venture equity for multi-housing properties and portfolios. He collaborates closely with JLL’s top multi-housing debt team, including Ken Dayton, Scott Loving, Bill Mork, Britta Lund, Scott Streif and Pat McMullen in Minneapolis, as well as with JLL Capital Markets’ Senior Managing Directors David Williams and Brian Ranallo out of the St. Paul office.

Crowell & Moring announced today that partner Elaine Taussig is joining the firm’s Corporate group, and partner Tom Williams is joining the firm’s Corporate and IP groups in Chicago from Neal, Gerber & Eisenberg. They will collaborate with their long-time colleagues John J. Koenigsknecht and David S. Stone, who recently joined Crowell in corporate leadership positions to continue the firm’s strategic growth.

Entre Commercial Realty recently completed the sale of a 2.76-acre site for future redevelopment in Arlington Heights. Entre represented the seller, Congregational United Church of Christ, in the transaction, and the proceeds will be distributed to various missions and local initiatives. Entre’s team of Sam Deihs, Dan Benassi, SIOR, and Dan Jones, SIOR represented the seller in this transaction.

Atkins Companies has initiated a multi-million dollar capital improvement venture at the Washington Medical Arts building in Washington Township, NJ. Acquired in 2023, the two-story, 70,140-square-foot Class-A medical office structure will undergo enhancements including repurposing a former fitness center into 33,000 square feet of clinical medical space and creating 7,700 square feet of leasable space.  

“When we purchased the Washington Medical Arts building last year, we recognized its potential to become one of southern New Jersey’s premier healthcare destinations,” said Cory Atkins, principal of Atkins Companies. 

Lease signings and expansions with Rowan University School of Osteopathic Medicine, Weisman Children’s, and Jefferson Health further enhance the building’s services. Upon completion in June 2024, the Washington Medical Arts building will offer over 33,000 square feet of new medical space for lease. 

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories.
With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.

Remedy Medical Properties, Inc. has purchased a six-building medical office portfolio in Northern Kentucky for an undisclosed amount. CBRE’s Steve Timmel, CCIM, Will Roberts, Chris Prosser, CCIM, and Travis Likes represented the seller, Zalla Companies, in the transaction.

The portfolio totals 145,308 square feet and consists of medical office buildings in Kentucky and the Greater Cincinnati metropolitan area. The portfolio is fully leased to St. Elizabeth Physicians, with nearly ten years of weighted average lease terms. St. Elizabeth Physicians, one of the largest multi-specialty physician groups in the Kentucky tri-state area, anchors each property.

“This tenant has had a long-standing and valued relationship with the seller over the years, so identifying the right buyer was a key consideration for Zalla Companies,” said Timmel. “Ultimately, this led us to Remedy Medical, a national medical investment firm that specializes in healthcare properties across the U.S.”

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