Acquisitions

Marcus & Millichap Arranges $2.8M Sale of Industrial Building in Phoenix

by Amy Works May 27, 2026

PHOENIX — Marcus & Millichap has brokered the $2.8 million sale of an industrial warehouse property near Phoenix Sky Harbor International Airport. Jonathan Schulman, Tivon Moffitt and Peter Bauman of Marcus & Millichap represented the seller, a California-based private investor, and procured the buyer, a Phoenix-based private investor, in the transaction. Located at 3711 E. Atlanta Ave. in Phoenix, the property features 13,400 square feet of industrial manufacturing space. Located at 3711 E. Atlanta Ave., the 13,400-square-foot building is utilized as a lens manufacturing site for the existing tenant that negotiated a new 10-year lease extension. The new owner plans to complete targeted capital improvements at the asset, which was built in 1994, to support the tenant’s long-term operations.

May 27, 2026

Acquisitions Development Hospitality Indiana Midwest

Keystone Group Buys 378-Room Sheraton Indianapolis City Centre, Plans to Transform into Renaissance Hotel

by Kristin Harlow May 27, 2026

INDIANAPOLIS — Keystone Group has purchased the 378-room Sheraton Indianapolis City Centre Hotel located at 31 W. Ohio St. in the heart of downtown Indianapolis. The company plans to transform the property into a Renaissance hotel, Keystone’s first hotel under Marriott International’s Renaissance Hotel’s lifestyle brand. Keystone plans to introduce a multi-phase series of enhancements to the property, including reimagining the rooftop bar and pool concept, major improvements to the 537-space public parking garage, luxury upgrades throughout all interior and exterior spaces, a signature ground-floor restaurant and new lobby coffee shop, a pedestrian skywalk connection with 120 Monument Circle, a comprehensive façade restoration, upgraded ballroom and event spaces and a reinvented arrival and lobby space. Construction is anticipated to span approximately two years. The hotel will remain fully operational throughout the transformation.

May 27, 2026

Acquisitions Illinois Midwest Multifamily

Interra Realty Brokers $23M Sale of Apartment Complex in Metro Chicago

by Kristin Harlow May 27, 2026

MOUNT PROSPECT, ILL. — Interra Realty has brokered the $23 million sale of 20West, a six-story, 71-unit apartment complex in Mount Prospect. Paul Waterloo, Patrick Kennelly and Nathan Zito of Interra represented the buyer, Wheeling, Ill.-based Anemone Real Estate. The trio also represented the seller, Wingspan Development Group, which opened the property in 2019. The asset was 94 percent occupied at the time of sale. The property features nine studios, 41 one-bedroom and 20 two-bedroom layouts as well as a three-bedroom penthouse. Amenities include a fitness center, yoga studio, lounge and demonstration kitchen. A two-story restaurant space is currently leased to The Prospect.

May 27, 2026

Acquisitions Illinois Midwest Retail

United Properties Acquires Two Chicagoland Shopping Centers for $22.6M

by Kristin Harlow May 27, 2026

CHICAGO AND ROMEOVILLE, ILL. — United Properties Corp. has acquired Bishop Plaza, a 76,000-square-foot retail center in Chicago, for $11.5 million. The company also purchased the Shops at Romeoville, an 82,687-square-foot shopping center along the South Weber Road corridor in Romeoville, for $11.1 million. The Shops at Romeoville is home to tenants such as TJ Maxx, Ross Dress for Less, Petco and Five Below. Based in East Meadow, N.Y., United Properties owns and operates shopping centers across 22 states.

May 27, 2026

Acquisitions Industrial Southeast Tennessee

Colliers Brokers $140M Sale of Industrial Facility in Cookeville, Tennessee

by John Nelson May 27, 2026

COOKEVILLE, TENN. — Colliers has brokered the $140 million sale of a 1.6 million-square-foot industrial facility located at 4500 Academy Road in Cookeville, about 75 miles east of Nashville via I-40. The name of the tenant was not disclosed, but the property was developed in 2015 as a build-to-suit for Academy Sports + Outdoors, which services 84 stores across 14 states from the fulfillment center. Tratt Properties acquired the property from Middleton Partners. Ken Hedrick, Andrew Ragsdale, Phillip Butts, Jonathan Ameen, Will Smith and Spencer Smith of Colliers represented both the buyer and seller during the transaction.

May 27, 2026

Acquisitions Georgia Multifamily Southeast

American Landmark Acquires 400-Unit Apartment Community in Buford, Georgia

by John Nelson May 27, 2026

BUFORD, GA. — American Landmark Apartments has acquired Preserve at Mill Creek, a 400-unit multifamily community located at 1400 Mall of Georgia Blvd. in Buford, a northeast suburb of Atlanta. The seller and sales price were not disclosed. Built in 2001, Preserve at Mill Creek is situated near the Mall of Georgia, I-85 and Ga. Highway 20. The property features one-, two- and three-bedroom apartments, as well as a swimming pool, fitness center, courtyard and a clubhouse. The acquisition grows American Landmark’s metro Atlanta portfolio to nine properties.

May 27, 2026

Acquisitions Florida Retail Southeast

SRS Arranges $11.1M Sale of Retail Property in Jacksonville

by John Nelson May 27, 2026

JACKSONVILLE, FLA. — SRS Real Estate Partners has arranged the $11.1 million sale of Shops at Race Track, a nearly 17,000-square-foot retail center located at 4560 Race Track Road in Jacksonville. Situated on 2.4 acres within the Durbin Park master-planned community, the property was fully leased at the time of sale to six tenants including Heartland Dental, Dep Nails and Avecina Medical. Patrick Nutt and William Wamble of SRS represented the seller, a national real estate development and investment firm, in the transaction. Sean McGill of Cantrell & Morgan represented the buyer, a private investment firm with offices in New York and Jacksonville. Both parties requested anonymity.

May 27, 2026

Acquisitions Retail Southeast Tennessee

Matthews Negotiates Sale of 10,031 SF Retail Center in Clarksville, Tennessee

by John Nelson May 27, 2026

CLARKSVILLE, TENN. — Matthews has negotiated the sale of Shops of Wilma Rudolph, a 10,031-square-foot, unanchored retail center located at 3031 Wilma Rudolph Blvd. in Clarksville, about 46 miles northwest of Nashville via I-24. A private investor based in north Alabama purchased the center from the seller, a development firm based in Tennessee, in a 1031 exchange for more than $5 million. Both parties requested anonymity. Hutt Cooke and Robert Tate of Matthews represented the seller in the transaction. Shops of Wilma was fully leased at the time of sale to Sleep Number, FedEx Office and a U.S. Army Recruiting Station, all of which operate on triple-net leases.

May 27, 2026

Acquisitions California Florida Retail Southeast Texas Top Stories Virginia Western

Bain Capital, 11North Acquire Five Open-Air Retail Centers Across Four States for $300M

by Kristin Harlow May 27, 2026

BOSTON AND NEW YORK CITY — A joint venture between Bain Capital and 11North Partners has acquired five open-air retail centers for approximately $300 million. The properties total roughly 757,000 square feet and are located in Carlsbad, Calif.; Falls Church, Va.; Altamonte Springs, Fla.; and Sugar Land, Texas. The seller was not disclosed. Anchor tenants of the portfolio include Harris Teeter, Trader Joe’s, Walmart, Costco and Equinox, with sales from those anchor stores exceeding $900 per square foot. The portfolio, which was more than 93 percent occupied at the time of sale, also features a mix of food, fitness, medical, service and other necessity-based tenants. “Open-air, grocery-anchored retail continues to demonstrate some of the most compelling risk-adjusted fundamentals in the real estate landscape,” says Brian Harper, founder and managing partner of New York City-based 11North. “These assets align squarely with our strategy of building a portfolio of institutional-quality, open-air centers, anchored by best-in-class necessity and lifestyle tenants that serve as cornerstones of their communities,” adds Martha Kelley, a managing director at Boston-based Bain. The acquisition follows Bain and 11North’s recent capital raise of $1.6 billion that is dedicated to investing in open-air retail throughout the co-owned, 11North platform. Together with …

May 27, 2026

Fairbanks-Northwest-Distribution-Center-Houston

Acquisitions Industrial Texas

JLL Negotiates Sale of 357,570 SF Distribution Center in Northwest Houston

by Taylor Williams May 26, 2026

HOUSTON — JLL has negotiated the sale of Fairbanks Northwest Distribution Center, a 357,570-square-foot industrial property in northwest Houston. The two-building, cross-dock complex was constructed on a 23.4-acre site in 2023. The buildings span 194,780 and 162,790 square feet and were 80 percent leased at the time of sale to tenants in the automotive parts distribution and recreational facilities sectors. Building features include 32-foot clear heights, as well as a combined 72 dock doors, eight drive-in doors, 10,471 square feet of office space and parking for 252 cars and 111 trailers. Trent Agnew, Charles Strauss, Lance Young and Brooke Petzold of JLL represented the seller, Triten Real Estate Partners, in the transaction. The buyer was a fund backed by Ares Real Estate.

May 26, 2026

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