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greensPORT-Logistics-Park-Houston
DevelopmentIndustrialTexas

Jackson-Shaw Underway on 535,478 SF Industrial Project in East Houston

by Taylor Williams

HOUSTON — North Texas-based developer Jackson-Shaw is underway on construction of greensPORT Logistics Park, a 535,478-square-foot industrial project in East Houston. The 38.2-acre site is located near the junction of I-10 and Haden Road, and the development will consist of two buildings spanning 149,477 and 386,001 square feet. Jackson-Shaw is developing greensPORT Logistics Park in partnership with Greystar-Thackeray. Burton Construction is the general contractor for the project, and Goree Architects is handling design. Kimley-Horn is the civil engineer, and Comerica Bank is financing the project. Cushman & Wakefield has been tapped as the leasing agent. The development team broke ground on the project in late September and is targeting a third-quarter 2025 delivery.

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Eastpark-Denton
AcquisitionsMultifamilyTexas

Price Brothers Buys 333-Unit Eastpark Apartments in Denton, Texas

by Taylor Williams

DENTON, TEXAS — An affiliate of Kansas City-based Price Brothers has purchased Eastpark, a 333-unit apartment community located in the North Texas city of Denton. Built on 11 acres in 2022, the property offers one-, two- and three-bedroom units that are furnished with stainless steel appliances, quartz countertops and washer/dryer connections. Amenities include a pool, fitness center, outdoor lounge and game area and a community coffee lounge. Drew Kile, Michael Ware, Joey Tumminello, Taylor Hill, Cameron Purse and Will Balthrope of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the undisclosed seller in the deal. The team also procured the buyer.

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AcquisitionsIndustrialTexas

Newmark Brokers Sale of 310,900 SF Industrial Property in Mesquite, Texas Leased to Vehicle Accessories

by Taylor Williams

MESQUITE, TEXAS — Newmark has brokered the sale of Alcott Logistics Station, a 310,900-square-foot industrial property located in the eastern Dallas suburb of Mesquite. The property was developed between 2022 and 2023 as a build-to-suit corporate headquarters for automotive parts manufacturer Vehicle Accessories Inc. Dustin Volz, Stephen Bailey, Dom Espinosa, Zach Riebe and Caroline Wilson of Newmark represented the seller, North Texas-based developer Jackson-Shaw, in the transaction. The buyer was New York-based Sterling Investors.

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AcquisitionsRetailTexas

JLL Negotiates Sale of 114,982 SF Shopping Center in North Houston

by Taylor Williams

HOUSTON — JLL has negotiated the sale of Little York Plaza, a 114,982-square-foot shopping center in North Houston. Anchored by Hispanic grocer Sellers Bros., the center was built on 11.4 acres in 1987. Other tenants include Dollar Tree, Melrose Family Fashions and Aaron’s Appliances. Ryan West and John Indelli of JLL represented the undisclosed seller in the transaction. The buyer was The Criterion Fund, a retail investment firm with offices in Fort Worth and Owasso, Okla.

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Gortikov-Samo-Collection-Santa-Monica-CA
AcquisitionsAffordable HousingCaliforniaMultifamilyWestern

Gortikov Capital Buys Affordable Housing Portfolio in Santa Monica for $120M

by Amy Works

SANTA MONICA, CALIF. — Gortikov Capital has acquired Samo Collection, a portfolio of income- and rent-restricted affordable housing units in Santa Monica, for $120 million. Spanning 11 buildings, the portfolio offers a total of 399 units. Built between 1997 and 2009, Samo Collection features studio, one-, two- and three-bedroom units with stainless steel appliances, hardwood-style flooring and central heating and air conditioning. The name of the seller was not released.

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Butterfield-Logistics-Center-Tucson-AZ
ArizonaDevelopmentIndustrialWestern

TPA Group Breaks Ground on 194,879 SF Butterfield Logistics Center in Tucson

by Amy Works

TUCSON, ARIZ. — Atlanta-based TPA Group has broken ground on Butterfield Logistics Center, an industrial project in Tucson. Situated within Butterfield Business Center, the logistics center is slated for completion by third-quarter 2025. The 194,879-square-foot building will feature 32-foot clear heights, ESFR fire-sprinkler systems, 50-foot column spacing and 135-foot truck courts. The Class A facility will offer lease opportunities from 32,232 square feet and larger. The project team includes Atlas Collaborative Architects and FCL Builders.

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AcquisitionsCaliforniaRetailWestern

Faris Lee Investments Brokers $5.3M Presale of Single-Tenant Retail Property in Fresno, California

by Amy Works

FRESNO, CALIF. — Faris Lee Investments has arranged the $5.3 million presale of a newly constructed, single-tenant retail property in Fresno. The Learning Experience daycare occupies the property on a long-term 20-year net-lease basis. Scott DeYoung, Jeff Conover and Greg Lukosky of Faris Lee represented the seller in the transaction. The names of the buyer and seller were not released.

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4630-E-Ashbury-Circle-Denver-CO.jpg
AcquisitionsColoradoMultifamilyWestern

NorthPeak Commercial Arranges $2.4M Sale of Multifamily Property in Denver

by Amy Works

DENVER — NorthPeak Commercial Advisors has brokered the sale of an apartment building located at 4630 E. Ashbury Circle in Denver. The 12-unit asset traded for $2.4 million, or $197,916 per unit. The names of the seller and buyer were not released. Jack Sherman and Hunter Schaefer of NorthPeak Commercial Advisors represented the seller, while Kevin Calame and Matt Lewallen, also with NorthPeak, represented the buyer in the deal.

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IllinoisMidwestRetail

Walgreens Plans to Close 1,200 Stores Over Three Years

by Kristin Harlow

DEERFIELD, ILL. — Walgreens Boots Alliance Inc. (Nasdaq: WBA) unveiled in its fiscal year 2024 earnings report that it plans to close 1,200 stores over the next three years, including approximately 500 closures in fiscal 2025. “In fiscal 2025, we are focusing on stabilizing the retail pharmacy by optimizing our footprint, controlling operating costs, improving cash flow and continuing to address reimbursement models to support dispensing margins and preserve patient access for the future,” says Tim Wentworth, CEO. “Fiscal 2025 will be an important rebasing year as we advance our strategy to drive value creation. This turnaround will take time, but we are confident it will yield significant financial and consumer benefits over the long term.” In its fourth quarter, the Deerfield-based company posted a $3 billion loss, which was mostly derived from tax charges related to opioid liabilities and a write down of an investment in a Chinese pharmacy chain. Fourth-quarter sales increased 6 percent from the same period a year ago to $37.5 billion. Sales in fiscal 2024 were $147.7 billion, an increase of 6.2 percent from the same period a year ago. Net loss in fiscal 2024 was $8.6 billion, an increase of 180.4 percent over the …

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7030-Stuart-St-Westminster-CO.jpg
AcquisitionsColoradoMultifamilyWestern

Pinnacle Real Estate Negotiates $2M Sale of Apartment Building in Westminster, Colorado

by Amy Works

WESTMINSTER, COLO. — Pinnacle Real Estate Advisors has arranged the sale of a 12-unit multifamily property in Westminster. The asset traded for $2 million, or $169,583 per unit. Chris Knowlton of Pinnacle Real Estate Advisors represented the undisclosed seller and undisclosed buyer in the transaction.

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