Tuesday, November 10, 2026
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Acquisitions

AcquisitionsIllinoisMidwestOffice

Cushman & Wakefield Arranges $115M Sale of Chicago Office Tower

by Kristin Harlow

CHICAGO — Cushman & Wakefield has brokered the $115 million sale of 225 W. Wacker Drive, a Class A office tower overlooking the Chicago River in downtown Chicago. Prime Finance and Hines purchased the property from Spear Street Capital. The 31-story, 651,000-square-foot building is situated where Chicago’s West Loop and River North neighborhoods converge. Tenants include Cushman & Wakefield, which will remain an anchor tenant under the building’s new ownership. Cody Hundertmark, Tom Sitz, Jeremiah Olsen and Kelsey Berry of Cushman & Wakefield represented the seller. Jeff Altenau of Cushman & Wakefield advised Prime Finance in sourcing acquisition financing. Cushman & Wakefield is also expected to be retained to oversee property management and agency leasing on behalf of Prime Finance. During Spear Street Capital’s tenure, the property underwent significant capital improvements, including a lobby renovation, upgraded conferencing and collaboration spaces, a hospitality-driven tenant lounge, fitness facilities and an outdoor rooftop terrace. The new ownership plans additional investments, including a re-envisioned lobby-level restaurant and bar.

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AcquisitionsIowaMidwestOhioRetail

United Properties Acquires Two Retail Centers in Iowa, Ohio for $34.4M

by Kristin Harlow

DAVENPORT, IOWA AND MANSFIELD, OHIO — United Properties Corp. has acquired two retail centers in Iowa and Ohio for a total price of $34.4 million. The company now owns more than 10 million square feet. Village Shopping Center in Davenport totals 233,100 square feet. The sales price was $23.9 million. Anchored by Ross Dress for Less, Ollie’s Bargain Outlet, Five Below and Pet Supplies Plus, the property is 91 percent occupied. Appleseed Center in Mansfield totals 147,254 square feet. The purchase price was $10.5 million. Anchor tenants at the property include Ollie’s Bargain Outlet, Ace Hardware and Dollar Tree.

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AcquisitionsKansasMidwestMultifamily

Northmarq Brokers Sale of 56-Unit Apartment Complex in Lawrence, Kansas

by Kristin Harlow

LAWRENCE, KAN. — Northmarq has brokered the sale of 1621West Apartments, a 56-unit property in Lawrence. Casey Wilhm, Jeff Lamott and David Belpedio of Northmarq represented the seller, DCBE1621 LLC. The Robert Corry and Nathalie Corry Family Revocable Trust was the buyer. The asset features a mix of one- and two-bedroom units. Built in 2026, the property is located within one mile of the University of Kansas campus.

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Riggs-Marketplace-Chandler-AZ
AcquisitionsArizonaRetailWestern

A&C Properties Sells Grocery-Anchored Retail Portfolio in Arizona for $108.7M

by Amy Works

CHANDLER, CAVE CREEK, GILBERT, MESA AND TUCSON, ARIZ. — A&C Properties Inc. has completed the sale of Arizona Grocery Portfolio, a grocery-anchored retail portfolio in Phoenix and Tucson, to 11North Partners for $108.7 million. Totaling 422,949 square feet, the seven-property portfolio is currently 96 percent occupied with Fry’s Food & Drug as anchor tenant. The portfolio includes Gilbert Fiesta Marketplace, Shops at Gilbert Fiesta and Township Plaza in Gilbert; Riggs Marketplace in Chandler; Lindsay Marketplace in Mesa; Tatum Plaza in Cave Creek and Randolph Plaza in Tucson. Patrick Dempsey, Tess Berghoff and Ross Jorgensen of JLL Capital Markets represented the seller in the transaction. Jarrod Howard of JLL arranged $66.4 million in acquisition financing through an insurance company for the buyer.

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1400-N-Wilmot-Rd-Tucson-AZ
AcquisitionsArizonaHealthcareWestern

Meridian, Harrison Street Dispose of 182,900 SF El Dorado Medical Plaza in Tucson

by Amy Works

TUCSON, ARIZ.— Meridian and Harrison Street Asset Management have completed the sale of El Dorado Medical Plaza, a three-story healthcare campus located at 1400 N. Wilmot Road in Tucson. Franklin, Tenn.-based Medical Realty acquired the asset for an undisclosed price. Situated on 11.7 acres, El Dorado Medical Plaza offers 182,900 square feet of medical office space, a surgery center and hospital uses. The facility is anchored by Tucson Medical Center (TMC) and El Dorado Springs Behavioral Health, a Lifepoint Health behavioral health hospital. Meridian, in partnership with Harrison Street, negotiated a lease extension with TMC, which now occupies approximately 78,000 square feet of the property. JLL’s Medical Properties Group represented the seller in the deal. Andrew Milne, Evan Kovac, Matt DiCesare and Sam Prendergast of JLL facilitated the sale, while John Chun and Jarrod Howard of JLL arranged financing for the buyer. Meridian and Harrison Street purchased El Dorado Medical Plaza in March 2021 through a joint venture partnership. During its ownership, the joint venture invested in capital improvements at the property and worked with its major tenants on multi-year lease commitments and expansions.

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AcquisitionsColoradoMultifamilySeniors HousingWestern

SLIB Arranges Sale of 126-Bed Skilled Nursing Facility in Castle Rock, Colorado

by Amy Works

CASTLE ROCK, COLO. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Brookside Inn, a skilled nursing facility located in Castle Rock, about 30 miles southeast of downtown Denver. A California-based skilled nursing operator acquired the asset from a Colorado-based entity, which has owned and operated the community since 1997, for an undisclosed price. The 43,184-square-foot property offers 126 beds. Vince Viverito, Jason Punzel, Jake Anderson and Taylor Graham of SLIB represented the seller in the transaction. 

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Mizner-Park
AcquisitionsDevelopmentMixed-UseTop Stories

Joint Venture Acquires 838,840 SF Mizner Park in Boca Raton, Plans Multimillion-Dollar Renovation

by Abby Cox

BOCA RATON, FLA. — A joint venture between CP Group, The Georgetown Co., private equity firm ACRE and investment firm StepStone Group has acquired Mizner Park, an 838,840-square-foot, open-air mixed-use development located in downtown Boca Raton. The new ownership group is planning to implement a multimillion-dollar renovation for the 35-year-old complex. JLL represented the seller, Brookfield Properties, and secured financing through Blackstone for the transaction. Brookfield, which acquired Mizner Park via the company’s acquisition of General Growth Properties (GGP) in 2018. The sales price was not disclosed, but the property was marketed with prospective bids reaching up to $290 million prior to its recent sale, according to various media outlets. “Mizner Park has been an important part of Boca Raton for more than three decades, and we see tremendous opportunity to help grow its future,” says Jonathan Schmerin, managing principal of The Georgetown Co. “Alongside our partners, we’re excited to work with the city and community to strengthen the tenant mix, bring new energy to the property and reinforce its position as one of America’s signature shopping, dining and entertainment destinations.” Mizner Park is considered one of the most influential “live-work-play” destinations in the United States. It was originally developed …

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AcquisitionsContent PartnerDevelopmentIndustrialLeasing ActivityLee & AssociatesMidwestMultifamilyNortheastOfficeRetailSoutheastTexasWestern

Lee & Associates’ Q3 2026 Report: Industrial Rebounds, Office Stalls, Retail and Multifamily Gain Ground

by Sarah Daniels

After three years of new construction outpacing tenant demand in many sectors and areas, commercial real estate posted a mostly encouraging report card in the third quarter of 2026. Lee & Associates’ 2026 Q3 North America Market Report shows industrial demand nearly doubled from the second quarter, while retail and multifamily extended their rebounds. Office, the sector that had been staging a comeback, slipped back into negative tenant demand territory. Sponsored: Download Lee & Associates’ 2026 Q3 North America Market Report.  Industrial Overview: Tenant Growth Gains in United States There has been broad general improvement across North American industrial markets, with demand for space rebounding in the United States. Third-quarter net absorption totaled 84,081,618 square feet, as more users gradually have set aside tariff and trade concerns that have hobbled tenant expansion since 2023. The third-quarter gains are an 89 percent improvement from 44.4 million square feet in the second quarter and a year-on-year jump of 172 percent. The third quarter’s growth brought the year-to-date total to 161.2 million square feet as net absorption has recovered from three years of tepid growth. Despite the increase so far this year, tenant expansion continues to fall short of absorbing the volume of deliveries that …

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AcquisitionsOfficeTexas

LaSalle Acquires Stake in CityWest Office Campus in West Houston

by Taylor Williams

HOUSTON — LaSalle Investment Management has acquired an equity stake in CityWest, a four-building, 1.5 million-square-foot office campus in West Houston. The percentage was not disclosed. CityWest was purpose-built for BMC Software as a 39-acre corporate headquarters campus near the intersection of I-10 and Beltway 8 and was 98 percent leased at the time of the recapitalization. The property offers amenities such as a recently renovated fitness center, basketball court, multiple dining venues and outdoor gathering areas. LaSalle acquired the stake a joint venture with investment firm 3Edgewood.

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AcquisitionsIndustrialLee & AssociatesTexas

Lee & Associates Brokers Sale of 22,000 SF Industrial Complex in Keller, Texas

by Taylor Williams

KELLER, TEXAS — Lee & Associates has brokered the sale of a 22,000-square-foot industrial building in Keller, a northern suburb of Fort Worth. The two-building complex is located at 5758-5750 Park Vista Circle and includes office space. Jeremy Mojica of Lee & Associates represented the undisclosed seller in the transaction. The buyer was Sail Holdings.

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