Wednesday, June 17, 2026
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AcquisitionsMichiganMidwestRetail

Boulder Group Arranges $3.5M Sale of Caliber Collision-Occupied Retail Property in Mount Pleasant, Michigan

by Kristin Harlow

MOUNT PLEASANT, MICH. — The Boulder Group has arranged the $3.5 million sale of a single-tenant retail property net leased to Caliber Collision in Mount Pleasant within central Michigan. The property at 1005 Corporate Drive features a newly renovated, 15,800-square-foot automotive building on two acres. Caliber Collision maintains a 15-year lease. Randy Blankstein and Jimmy Goodman of Boulder represented the buyer, an Iowa-based corporation. The seller was a Delaware-based limited liability company.

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AcquisitionsHealthcareIllinoisMidwest

AXIS 360 Brokers $1.5M Sale of Healthcare Development Site in Bloomington, Illinois

by Kristin Harlow

BLOOMINGTON, ILL. — AXIS 360 Commercial Real Estate Specialists has brokered the $1.5 million sale of a 4.7-acre commercial lot on Towanda Barnes Road in Bloomington. Laura Pritts of AXIS 360 represented the undisclosed seller. Joseph & Camper Commercial represented the buyer, which plans to develop the property into medical-related use. The site is located between the Parke Regency Hotel and Conference Center and Compeer Financial.

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Advance-Auto-Parts_Kinston
AcquisitionsCompany NewsDistrict of ColumbiaIndustrialNorth CarolinaRetailSoutheastTop Stories

Advance Auto Parts Agrees to Sell Worldpac Distribution Business to Carlyle for $1.5B

by Katie Sloan

RALEIGH, N.C. AND WASHINGTON, D.C. — Advance Auto Parts Inc. (NYSE: AAP) has agreed to sell Worldpac, the Raleigh-based company’s automotive parts wholesale distribution business, to funds managed by global investment firm Carlyle (NASDAQ: CG) for $1.5 billion in cash.  Advance Auto Parts operated 321 Worldpac locations primarily within the United States as of the end of the second quarter. These warehouses, 135 of which are branded Autopart International, are generally larger than the company’s retail locations, averaging approximately 26,000 square feet. Worldpac offers over 293,000 parts for domestic and import vehicles and primarily serves professional customers such as vehicle repair shops, with services including same-day delivery of automotive parts through a fleet of company-owned vehicles. Over the past 12 months, these locations generated approximately $2.1 billion in revenue and $100 million in earnings before interest, taxes, depreciation and amortization (EBITDA). Advance expects to close the transaction before the end of the year, with Advance expecting net proceeds of approximately $1.2 billion after taxes and transaction fees.  These proceeds will be used to strengthen the company’s balance sheet and invest in its core retail business, said Shane O’Kelly, president and CEO of Advance Auto Parts, during an earnings call earlier …

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Build-to-RentConference CoverageFeaturesMultifamilyNorth CarolinaSingle-Family RentalSouth CarolinaSoutheastSoutheast Feature Archive

Build-to-Rent Sector Remains in a Sweet Spot, Say InterFace Panelists

by John Nelson

CHARLOTTE, N.C. — Build-to-rent (BTR), or purpose-built neighborhoods of single-family rental homes, has been an emerging subsector of the multifamily continuum the past several years. The housing type fills a niche for renters as it offers more living space and privacy than typical apartments, but is more affordable and amenitized than for-sale homes. The BTR sector began its ascent during the early years of the COVID-19 pandemic when a confluence of factors —the rise in work-from-home and hybrid work schedules, an increase in household formation of younger millennials, the desirability of more private space including garages and backyards — led to a sharp increase in demand for single-family rental (SFR) homes. Underpinning the increased demand for BTR living is the unaffordability of homeownership for a large swath of Americans. As of mid-year, home prices are now 47 percent higher than they were in early 2020, according to Harvard’s Joint Center for Housing Studies. Home insurance premiums have also risen aggressively in the recent past — up 21 percent between 2022 and 2023, according to the study. Meanwhile, mortgage payments are increasingly untenable as interest rates have also risen dramatically in recent years. For these reasons, institutional investors are actively participating …

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Palladium-San-Antonio
DevelopmentMultifamilyTexas

Palladium USA Breaks Ground on $75M Multifamily Project in San Antonio

by Taylor Williams

SAN ANTONIO — Dallas-based developer Palladium USA has broken ground on a $75 million multifamily project in San Antonio. The development will be situated on an 18-acre site on the city’s south side and will feature 288 units in one-, two- and three-bedroom floor plans. Amenities will include a pool, fitness center, conference center, dog park, business center, children’s playroom and clubroom with a mini kitchen. Cross Architects designed the community, and Brownstone Group is the general contractor. Palladium has partnered with the San Antonio Housing Trust Public Facility Corp. (SAHTPFC), which issued $35 million in tax-exempt bonds to finance the project. PNC Bank provided $33 million in equity and more than $30 million in long-term debt. The Texas Department of Housing and Community Affairs provided $36 million of 4 percent Low-Income Housing Tax Credits. Preleasing is set to begin in winter 2025.

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IndustrialLeasing ActivityTexas

Four Hands Signs 570,489 SF Industrial Lease Near Austin Airport

by Taylor Williams

AUSTIN, TEXAS — Four Hands has signed a 570,489-square-foot industrial lease near Austin-Bergstrom International Airport on the city’s southeast side. The locally based distributor of high-end furniture will occupy the entirety of Airport Logistics Center Building 2, which is part of a larger 92-acre development. Ace Schlameus and Kyle McCulloch of JLL represented the landlord, Dallas-based Dalfen Industrial, in the lease negotiations. Chad Marsh of Endeavor Real Estate Group represented the tenant. The deal marks the largest industrial lease in Austin this year, according to the brokerage teams.

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Leasing ActivityOfficeTexas

Bank of America Renews 553,779 SF Office Lease at Hallmark Center in Addison, Texas

by Taylor Williams

ADDISON, TEXAS — Bank of America has renewed its full-building, 553,779-square-foot office lease at Hallmark Center I in the northern Dallas metro of Addison. The lease term is 10 years. Rhett Miller and Matt Wieser of Stream Realty Partners represented the landlord, The RMR Group, in the lease negotiations. Andy Leatherman and Bret Hefton of JLL in Dallas represented Bank of America, which signed its original lease to be the building’s sole occupant in 2013. Bank of America has also preleased half the space at Parkside Uptown, a 500,000-square-foot office building in Dallas that is under construction.

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ColoradoDevelopmentIndustrialWestern

Lovett Industrial Completes 201,329 SF Broadway Logistics Center in Denver

by Amy Works

DENVER — Houston-based Lovett Industrial has completed construction of Broadway Logistics Center, a speculative Class A industrial building in central Denver. Located at 6795 Broadway, the 201,329-square-foot, front-park, rear-load industrial facility features a 2,250-square-foot Class A office build-out, 32-foot clear heights, six-inch reinforced concrete slab, 204 auto parking stalls, 57 dock-high doors, 130-foot truck courts and 50 trailer parks. Drew McManus, Bryan Fry and Ryan Searle of Cushman & Wakefield in Denver are marketing the facility for lease. The asset can be leased to a single tenant or multiple tenants with divisibility down to 22,360 square feet.

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1660-1880-Iowa-Ave-Riverside-CA
AcquisitionsCaliforniaIndustrialWestern

Le Investment Group Arranges $36.6M Sale of Industrial Portfolio in Riverside, California

by Amy Works

RIVERSIDE, CALIF. — Le Investment Group has arranged the sale of an industrial portfolio in Riverside, located in the Inland Empire region. The asset traded for $36.6 million, or $179.27 per square foot. Located at 1660-1880 Iowa Ave., the multi-building portfolio offers 203,939 square feet of industrial space. Le Investment Group represented the undisclosed seller in the deal. The name of the buyer was also not released.

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The-Valencia-Vallejo-CA
AcquisitionsCaliforniaMultifamilyWestern

Northmarq Brokers $27.5M Sale of Apartment Portfolio in Vallejo, California

by Amy Works

VALLEJO, CALIF. — Northmarq has facilitated the sale of a two-property multifamily portfolio in Vallejo, across San Pablo Bay from San Francisco. Reliant Group Management sold the portfolio to Abacus Capital Group for $27.5 million. The portfolio includes the 80-unit The Valencia, located at 1101 N. Camino Alto, and the 64-unit Valencia Terrace, located at 154 Richardson Drive. The Valencia was built in 1986 and Valencia Terrace was built in 1982.   Zachary LeBeouf and Anthony Pappageorge of Northmarq’s Northern California multifamily investment sales team represented the seller in the transaction.

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