ALTON, ILL. — Marcus & Millichap has brokered the $9.3 million sale of Oakwood Plaza, a 16-suite retail property in Alton. Built in 2005, the 45,400-square-foot center sits on nearly 9 acres and is home to tenants such as Panera, Spectrum, Dollar Tree and Great Clips. Chris Garavaglia, Alex Perez and Steven Weinstock of Marcus & Millichap represented the seller, Commonwealth Commercial. Buyer information was not provided.
CHASKA, MINN. — Peavey Road Partners LLC has purchased a 42,886-square-foot industrial property at 4024 Peavey Road in Chaska for $3.1 million. The buyer plans to position the site for one of Minnesota’s first “mezzobusiness” cannabis cultivation, manufacturing and retail operations. The tenant will be Blom Inc., a Minnesota-based cannabis company pursuing a mezzobusiness license, the state’s most vertically integrated license type that allows for cultivation, manufacturing, processing, packaging and retail operations within a single platform. United Prairie Bank provided acquisition financing for the transaction. In addition, Peavey Road Partners plans to invest approximately $4 million for building improvements to convert the former industrial facility into a state-compliant cultivation and retail operation. Kai Thomsen, principal at Lee & Associates Twin Cities, and Wade Shatzer of Equimax created Peavey Road Partners to address the unique real estate and capital challenges specific to Minnesota’s cannabis industry. Hudson Brothen of Cushman & Wakefield represneted the seller of the property, Highland Development.
CLEVELAND — Cosm, along with Bedrock and Rock Entertainment Group, have broken ground on a new entertainment venue located at the intersection of East 4th Street, Prospect Avenue and Huron Road in downtown Cleveland. Dubbed Cosm Cleveland, the venue will sit directly across from Rocket Arena (formerly Rocket Mortgage Fieldhouse), home of the NBA’s Cleveland Cavaliers and AHL’s Cleveland Monsters. The two professional sports franchises are owned by Dan Gilbert, founder of Rocket Mortgage, Bedrock and Rock Entertainment Group. Spanning approximately 64,000 square feet and rising three stories, Cosm Cleveland will comprise two programmatic elements: The Dome and The Hall. Through Cosm’s proprietary technology called Shared Reality, the venue will merge a stadium-like atmosphere with state-of-the-art visuals in a communal setting. Rossetti Architects designed Cosm Cleveland, and Bedrock is leading the development. The venue, which will anchor Bedrock’s Rock Block mixed-use development, is slated to open in 2027. “This is a major milestone for our downtown Gateway District, and the arrival of Cosm is a testament to our community’s spirit and resilience,” says Cleveland Mayor Justin Bibb. “This incredible venue will enhance our city’s reputation as a hub for sports and entertainment, drawing visitors from near and far to experience a …
— By Rebecca Lloyd of Cushman & Wakefield — Salt Lake City’s industrial market ended 2025 in a transitional period defined by rising vacancy, shifting demand across product types, and heightened activity in both peripheral submarkets and the owner‑user segment. Overall vacancy climbed to 7.9 percent, driven by more than 8.5 million square feet of new warehouse/distribution deliveries since early 2024, nearly half of which remain available. This is particularly apparent in the North West submarket, which continues to dominate the region’s industrial footprint. Despite this supply influx, tenant demand held firm with 5.9 million square feet of new leasing activity recorded in 2025. Absorption remained steady across small and mid-sized facilities, with monthly net asking rents remaining stable at $0.80 to $0.81 per square foot. Smaller 10,000- to 100,00-square-foot buildings posted the tightest availability at 6 percent vacancy, while larger big box properties over 100,000 square feet saw vacancy rise to 15.7 percent, widening the performance gap between segments. Land scarcity, power constraints and elevated development costs continue to limit opportunities in core Salt Lake submarkets, forcing more tenants and developers to pivot toward Utah County. This is where a sizeable 4-million-square-foot proposed development pipeline is helping narrow …
ATLANTA — Atlanta-based investment and development firm MDH Partners has received $195.9 million in financing for a portfolio of seven industrial buildings totaling approximately 1.6 million square feet, three of which are located in the northern Dallas metro of Carrollton. The other four buildings are located in Salt Lake City, Chino, Calif. and Murfreesboro, Tenn. Capital One provided the financing. The portfolio was 91 percent leased at the time of sale.
ORLANDO, FLA. — PCCP LLC has provided a $92.5 million construction loan for Emi on 50, a 336-unit apartment development located at 1840 E. Colonial Drive in Orlando’s Mills 50 neighborhood. The borrower is Terian Development. Set for completion in second-quarter 2028, the nine-story community will offer studio, one-, two- and three-bedroom units averaging 895 square feet in size, with 20 apartments designed as live/work units and 15 planned as two-story townhomes. Amenities will include a fitness center, speakeasy and a café, as well as a rooftop deck with a pickleball court, pool, grilling stations and a Zen garden.
CASSELBERRY, FLA. — CBRE has brokered the sale of Casselberry Square, a 96,946-square-foot shopping center located at the intersection of State Road 436 and Red Bug Lake Road in Casselberry, a suburb of Orlando. The property was fully leased at the time of sale to tenants including Ollie’s Bargain Outlet, Pet Supermarket and Dollar General. Dennis Carson, Casey Rosen, Dan Baker and Michael Etemad of CBRE represented the seller in the transaction, which included two vacant outparcels. Daryl Carter and Emily Brown of Maury L Carter & Associates co-represented the seller. The buyer was an affiliate of Present Equity, a value-add retail and industrial investment firm based in Aventura, Fla.
NASHVILLE, TENN. — Carmichael Capital LLC, a locally based real estate investment firm founded by Taylor Camp, has acquired The Mill, a 22,802-square-foot adaptive reuse retail property located at 515 Merritt Ave. in Nashville’s Wedgewood-Houston neighborhood. SomeraRoad, an active mixed-use development firm in the Nashville market, sold the property for an undisclosed price. The Mill’s tenant roster comprises retail and restaurant concepts including Indochino, Hermitage Kitchen Gallery, Gordo’s Taqueria and BC Block Fitness. Kipper Worthington of Cushman & Wakefield handles the leasing assignment at The Mill, which is the second acquisition in the Wedgewood-Houston neighborhood for Carmichael Capital.
GREENVILLE, TEXAS — Pardue Cos., a Texas-based multifamily investment firm, has sold a portfolio of three multifamily properties totaling 428 units in Greenville, about 50 miles northeast of Dallas. The Ridge Apartments is a 112-unit complex that was built in 1985. Highland Terrace totals 172 units and was completed in 1978. Stone Ridge Apartments is a 144-unit property that was constructed between 1968 and 1983. All three are two-story, garden-style properties with pools and onsite laundry facilities. Taylor Hill, Michael Ware, Drew Kile, Joey Tumminello and Jack Windham of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented Pardue Cos. in the transaction. The buyer and sales price were not disclosed.
HOUSTON — Texas-based investment firm Presidium has acquired Whitney at The Heights, a 186-unit apartment complex located just outside of downtown Houston. Built in 2001, Whitney at The Heights offers one-, two- and three-bedroom units that range in size from 666 to 1,320 square feet. Residences are furnished with stainless steel appliances, individual washers and dryers and private entrances/patios. Amenities include a pool, resident clubhouse, fitness center, business center, dog park and outdoor grilling areas with TVs. The seller and sales price were not disclosed. Presidium plans to implement a value-add program that will initially target common areas and amenity spaces.
