MOUNT PROSPECT, ILL. — UrbanStreet Group and Wingspan Development Group, a national development arm of Nicholas Family of Cos. (NFOC), have completed a merger. Wingspan will transition its future pipeline of multifamily and mixed-use developments to UrbanStreet, which will lead multifamily development efforts. Nicholas & Associates, the general contracting arm of NFOC, will continue to provide construction services for any multifamily projects that fall under the alliance in Illinois, Florida and Wisconsin as well as additional markets when feasible. Excluding projects currently underway in its portfolio, Wingspan’s future involvement in multifamily will focus on investment and third-party construction services. Wingspan will focus on its continued expansion in commercial sectors such as sports and entertainment venues, retail, industrial and land development. Together, UrbanStreet and NFOC have delivered more than 7,500 multifamily units across 25 completed projects, representing more than $3 billion in combined development value.
VALPARAISO, IND. — Marcus & Millichap has brokered the $3.1 million sale of a newly built retail property net leased to Dutch Bros in Valparaiso. The 2,495-square-foot building is located at 2510 Laporte Ave. as a Target outlot within Valparaiso Market Place. It operates under a new 15-year absolute triple-net lease and is corporately guaranteed by Boersma Bros LLC. The property is roughly one mile from the Valparaiso University campus. Austin Weisenbeck, Sean Sharko, Adrian Mendoza and Phoebe Klein of Marcus & Millichap, in association with Julia Evinger, the firm’s Indiana broker of record, represented the seller, a Midwest developer. The team secured an Indiana-based buyer. The transaction closed at more than 96 percent of the listing price.
YORK, PENN. — CBL Properties, along with its 50 percent joint venture partner, has sold York Town Center, an open-air regional retail center located in the southern Pennsylvania town of York for $50.6 million. The transaction was completed at an 8.5 percent capitalization rate. York Town Center features 14 stores, including DICK’S Sporting Goods, Boot Barn, Best Buy and ULTA, and spans more than 297,000 square feet. The buyer was not disclosed.
UNIVERSITY PARK, FLA. — Benderson Development has acquired three properties totaling 400,000 square feet along the west coast of Florida. The first, Granada Plaza, is a Publix-anchored retail center located in the Tampa suburb of Dunedin at the intersection of Main Street and Keene Road. The second acquisition is Venice Market Place, a shopping center located where Tamiami Trail meets Center Road in Venice. Finally, Benderson purchased a building tenanted by Lowe’s Home Improvement Center at 10070 Estero Town Commons Place in Estero.
LAS VEGAS — SRS Real Estate Partners has brokered the $6.2 million sale of a 31,086-square-foot retail property located at 2420 E. Desert Inn Road in Las Vegas. The building, which is situated on 2.5 acres, has been occupied by Ross Dress for Less for more than 40 years. Patrick Luther of SRS represented the West Coast private seller. The buyer was a private investor from California who paid all cash. The closing cap rate was 6.5 percent.
PASADENA, CALIF. — Meridian has acquired 55 East California Boulevard, a medical office building located adjacent to Huntington Hospital in Pasadena, for approximately $13.3 million. Concurrent with the purchase, Meridian finalized a long-term lease with The Huntington Physicians, an affiliate of Huntington Health and Cedars-Sinai Health System, for the entire second floor of the 32,052-square-foot property. Meridian entered escrow on the property in September 2025 and worked with the City of Pasadena to update its zoning code to permit medical office use as a conforming use within the applicable zoning district. As part of the repositioning effort, Meridian has arranged a new 10-year lease with The Huntington Medical Foundation covering approximately 10,619 square feet on the building’s second floor. Angie Weber of CBRE represented Meridian, while Jackie Benavidez and Damon Feldmeth of CBRE represented Huntington Medical Foundation in the lease transaction. Mark Shaffer and Cody Chiarella of CBRE represented Meridian in the sale transaction.
DALLAS — Cushman & Wakefield has brokered the sale of the Valwood Industrial Portfolio, a collection of three buildings totaling 254,105 square feet in North Dallas. Built in 2001, the portfolio’s buildings feature rear-load configurations and 24-foot clear heights. Jim Carpenter, Jud Clements, Robby Rieke, Emily Brandt and Trevor Berry of Cushman & Wakefield represented the seller, California-based Cohen Asset Management, in the transaction. The buyer was a fund backed by Ares Real Estate. The portfolio was fully leased to seven tenants at the time of sale.
LAS VEGAS — IndiCap has acquired land in southwest Las Vegas for the development of Southwest Bay, a Class A infill industrial project. The site spans 3.8 net acres of usable land, not including street rights-of-way, and the 70,405-square-foot property will offer shallow-, small- and mid-bay industrial space with flexible suite configurations. Current plans call for suite configurations beginning at approximately 17,600 square feet, with the ability to accommodate full-building users. Located at the southwest corner of Russell Road and Edmond Street, Southwest Bay will feature concrete tilt-up construction with 28-foot clear heights, ESFR fire sprinklers, dock-high and grade-level loading, electrical capacity and flexible demising options. Sitework is slated to begin in April 2027, followed by vertical construction in May 2027. Southwest Bay is scheduled for delivery in February 2028, with preleasing available before completion. The project team includes Lee & Sakahara Architects as architect and structural engineer, Per4mance Engineering as civil engineer and NDL Group as general contractor. Greg Tassi and Donna Alderson of Cushman & Wakefield are handling leasing for the project. First American provided title services for the project.
HONOLULU — ESC Pacific, an international architecture, engineering and environmental consulting firm with operations in Japan, Guam and the United States, has purchased the historic Joseph W. Podmore Building at 202 Merchant St. in Honolulu in an off-market transaction. Constructed in 1902 from Hawaiian blue-gray basalt and listed on the National Register of Historic Places since 1983, the two-story Podmore Building features 4,638 square feet. ECS will occupy the building’s second floor as its U.S. base, while the ground floor will continue its longstanding restaurant use. Matthew McKeever of CBRE Hawaii Capital Markets represented the buyer in the transaction, terms of which were not released.
HOUSTON — Lee & Associates has negotiated the sale of a 24,825-square-foot industrial property in northwest Houston. The two-building complex at 2216 Pech Road was constructed in 1980 and includes 4,600 square feet of office space. Richard Glass and Conrad Chambers of Lee & Associates represented the seller, All-Tex Erection Systems Inc., in the transaction. The buyer was Russell and Sons Holding Co.