Tuesday, June 16, 2026
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Market ReportsRetailTexasTexas Market Reports

Challenging Assumptions About the Rio Grande Valley Retail Market

by Taylor Williams

By Kirk Cypel, chief development officer, CBG Commercial Real Estate Misconceptions about the Rio Grande Valley’s (RGV) retail market abound, particularly among those who are unfamiliar with South Texas.  But those who are entrenched in shopping center ownership and development  in the area are baffled and frustrated by retailers allowing these misconceptions to deter them from actively exploring the RGV.  Questions like whether McAllen is an eight- or 10-hour drive from San Antonio, whether there’s an airport, if it’s safe — these are inquiries that simply make local retail owners and operators shake their heads. The same applies to brokers who inquire about securing endcap, freeway-visible spaces for under $10 per square foot.  The Valley Reality The RGV is less than a four-hour drive from San Antonio and is served by three commercial airports. It resembles a metropolitan area akin to California’s Inland Empire, where several interconnected cities form a cohesive economic unit.  Yet many are surprised to learn of the RGV’s considerable size, spanning 422,107 square miles — 60 percent larger than the Inland Empire and more comparable to San Diego County in size.  The Council for South Texas Economic Progress reports that the population is over 1.4 million, …

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FloridaLoansMultifamilySeniors HousingSoutheast

Aztec Group Arranges $55.6M Financing for Active Adult Community in Palm Beach Gardens, Florida

by John Nelson

PALM BEACH GARDENS, FLA. — Aztec Group has arranged $55.6 million in bridge financing for Arcadia Gardens, an active adult community located in Palm Beach Gardens. MetLife provided the loan to the borrowers, affiliates of the United Group of Cos. and Sina Cos. United Group also manages the property, which was developed in 2021. Situated on 10.6 acres, the age-restricted apartment community comprises 220 units reserved for residents age 55 and older. Amenities at Arcadia Gardens include a fitness center, salon, movie theater, swimming pool, spa, community garden, walking trail, onsite dining facilities and pickleball, bocce and croquet courts.

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DevelopmentLoansRetailSouth CarolinaSoutheast

CBRE Secures $30.9M Construction Loan for Publix-Anchored Shopping Center in Metro Charleston

by John Nelson

GOOSE CREEK, S.C. — CBRE has secured a $30.9 million loan for the construction of The Marketplace at Carnes Crossroads, a Publix-anchored shopping center underway in Goose Creek, roughly 15 miles outside Charleston. Richard Henry, Mike Ryan, Brian Linnihan and Taylor Crowder of CBRE arranged the financing on behalf of the borrower, Columbia Properties, through a regional bank. Worthen Development is a partner in the project. Upon completion, the center will comprise 82,622 square feet across three buildings and nine land parcels situated on 24.5 acres. Site work for the development has begun, with vertical construction scheduled to begin soon.

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DevelopmentIndustrialNorth CarolinaSoutheast

Lovett Industrial Breaks Ground on 282,000 SF Orr Road Business Center in Charlotte

by John Nelson

CHARLOTTE, N.C. — Houston-based Lovett Industrial has broken ground on Orr Road Business Center, a 282,000-square-foot industrial business park in Charlotte. The property will feature two multi-tenant rear-load buildings on 21.7 acres, designed for occupancies ranging from 30,000 to 156,000 square feet. The buildings will comprise 156,000 and 126,000 square feet, respectively, featuring 32-foot clear heights, 6-inch reinforced concrete slabs, 180-foot truck courts, 60 total loading doors and two drive-in doors each. Henry Lobb and Abby Rights of Avison Young will manage leasing at the property, with Chris Skibinski of Avison Young providing capital markets strategic advisory services. A construction timeline was not disclosed.

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AcquisitionsGeorgiaIndustrialSoutheast

JLL Brokers Sale of 264,339 SF Regency Center Industrial Park in Atlanta

by John Nelson

ATLANTA — JLL Capital Markets has brokered the sale of Regency Center, a 264,339-square-foot industrial park located along Jimmy Carter Boulevard in Atlanta. Situated on 20.4 acres, the property comprises eight buildings and features 36 suites, rear-load configurations, 16- to 20-foot clear heights, 67 dock-high doors and 12 grade-level doors. Richland Capital Holdings acquired the property for an undisclosed price. Matt Wirth, Jim Freeman, Dennis Mitchell and Britton Burdette of JLL represented the undisclosed seller in the transaction.

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Leasing ActivityRetailSouth CarolinaSoutheast

Four Retailers Sign Leases at Freshfields Village in Metro Charleston

by John Nelson

KIAWAH ISLAND, S.C. — Four new retailers have signed leases at Freshfields Village, an open-air shopping center located in Kiawah Island, approximately 30 miles southeast of Charleston. Charleston Shoe Co., Hanebrink Jewelers and Longevity Pilates have joined the lineup, and Showroom has reopened within a larger space at the center. Edens is the owner and landlord of Freshfields Village.

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Park-Algodon-1-Phoenix-AZ
ArizonaDevelopmentIndustrialWestern

Creation, Clarion Partners Break Ground on $250M Park Algodon Industrial Project in Phoenix

by Amy Works

PHOENIX — Creation and Clarion Partners have broken ground on the first phase of Park Algodon, a previously announced, 1.3 million-square-foot industrial campus in Phoenix. Situated on 87 acres, the two-phase speculative industrial development will total 1.3 million square feet at full build out. The first phase includes four buildings, totaling 766,000 square feet, for tenants as small as 16,000 square feet and as large at 317,000 square feet. The second phase will consist of a 556,000-square-foot building. The buildings will feature 32- to 36-foot minimum clear heights, ample power and abundant employee parking. LGE Design Build is leading the architecture and construction. The first phase is scheduled for completion in the third quarter of 2025. Mike Haenel, Andy Markham and Phil Haenel of Cushman & Wakefield are handling leasing of the project.

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Vero-Tempe-AZ
ArizonaDevelopmentMultifamilyWestern

Transwestern Development Completes 199-Unit Vero Apartment Community in Tempe, Arizona

by Amy Works

TEMPE, ARIZ. — Transwestern Development Co. has completed Vero, a seven-story multifamily property within Novus Innovation Corridor in Tempe. Greystar is managing the Class A community. Globe Corp. and University Realty are investment partners on the project. Located at 651 E. 6th St., Vero offers 199 apartments with washers/dryers, stainless steel appliances and hardwood-style flooring. Select units offer custom built-ins, balconies and Murphy beds. Onsite amenities include a resort-style pool with lounge area; fitness center; coworking space with conference rooms; a resident clubhouse with a pool table and wet bar; and secure bike storage.

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Elan-Mountain-View-Mountain-View-CA
AcquisitionsCaliforniaMixed-UseMultifamilyRetailWestern

Cityview, Greystar Sell Elan Mountain View Mixed-Use Property in California

by Amy Works

MOUNTAIN VIEW, CALIF. — Cityview and Greystar have completed the disposition of Elan Mountain View, a mixed-use property at 1030 Castro St. in the Bay Area city of Mountain View. Terms of the transaction were not released. Developed in 2018, Elan Mountain View offers 164 apartments and 11,000 square feet of fully occupied ground-floor retail space. The community features studio, one-, two- and three-bedroom floor plans with smart thermostats, keyless entry, quartz countertops, modern cabinetry, full-tile kitchen backsplashes, wood vinyl plank flooring, stainless steel appliances and full-size washers and dryers. Select units feature street-level walk-up entrances, as well as private patios and balconies. Community amenities include a fully equipped fitness center; two-level club room with billiards table and chef’s kitchen; hammock lounge; edible garden pathway; private business center; and a courtyard with lounge seating, an outdoor kitchen, fireplaces and a fruit garden. Additionally, the property offers 164 storage units to residents and secured access parking. Current onsite retailers include Rose International Market, Mr. Sun, Le’s Alterations, Tanya’s Hair Design and Oh! Honey Macaron.

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AcquisitionsColoradoIndustrialWestern

Flywheel Capital Buys Two Industrial Outdoor Storage Properties in Denver Area

by Amy Works

DENVER AND COMMERCE CITY, COLO. — Flywheel Capital has acquired two industrial properties, 4970 Cook Street in Denver and 5790 Dahlia Street in Commerce City, for an undisclosed price. The acquisitions will expand Flywheel’s industrial outdoor storage (IOS) portfolio. Situated on 2.4 acres, 4970 Cook Street is a 20,000-square-foot, single-tenant, net-leased industrial property. The asset offers fenced secure storage space for businesses with large inventory needs and is currently leased to Goodyear Tire and Rubber. The property has served as Goodyear’s operational base since 1998. Located on 2.1 acres, 5790 Dahlia Street is a 7,000-square-foot industrial facility. In November 2023, TransWood Carriers, a bulk transportation company with more than 40 locations nationwide, signed a long-term lease at the property. Mike Viehmann, Mike Wafer and Mike Wafer Jr. of Newmark represented the undisclosed seller, while Flywheel Capital was self-represented in the deal.

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