Wednesday, February 4, 2026
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22350-Cactus-Ave-Moreno-Valley-CA
AcquisitionsCaliforniaRestaurantRetailWestern

Hanley Investment Group Arranges $2.7M Sale of Starbucks-Occupied Retail Property in Moreno Valley, California

by Amy Works

MORENO VALLEY, CALIF. — Hanley Investment Group Real Estate Advisors has brokered the sale of a single-tenant retail property at 22350 Cactus Ave. in Moreno Valley. Glendale, Calif.-based Chase Partners sold the asset to an Orange County, Calif.-based private investor for $2.7 million, or $1,817 per square foot. Starbucks Coffee occupies the 1,500-square-foot property, which includes a drive-thru. Bill Asher and Jeff Lefko of Hanley Investment Group represented the seller, while David Kluver of Lee & Associates represented the buyer in the transaction.

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AcquisitionsIllinoisIndustrialMidwestOhio

Investcorp Completes Disposition of Midwest Industrial Portfolio for $365M

by Kristin Harlow

CHICAGO, CLEVELAND, CINCINNATI AND COLUMBUS — Investcorp has sold a portfolio of Midwest industrial properties for $365 million. The assets total approximately 3.5 million square feet and are located within metro Chicago, Cleveland, Cincinnati and Columbus. The portfolio includes a group of 23 light industrial facilities spanning more than 2 million square feet across Columbus, Cincinnati and Cleveland as well as an eight-building, 1 million-square-foot industrial park located three miles from the Chicago O’Hare International Airport and a 434,000-square-foot distribution facility in metro Cleveland.

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AcquisitionsMidwestMinnesotaMultifamilySeniors Housing

Oppidan Sells Senior Living Community in Minneapolis for $140M

by Kristin Harlow

MINNEAPOLIS — Oppidan Investment Co. has sold The Pillars of Prospect Park, a senior living community in Minneapolis, for $140 million, according to a recently published certificate of real estate value. Ventas, doing business as VLSHRE PILLARS LLC, was the buyer. Oppidan originally opened the community in May 2020. Situated with proximity to the University of Minnesota campus, the property features 283 units, including 133 independent living, 106 assisted living and 44 memory care units. Amenities include an onsite bistro, salon spa, chapel, fitness center, golf simulator and roof deck.

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AcquisitionsIllinoisMidwestRetail

JLL Brokers $17.3M Sale of Whole Foods-Occupied Retail Property in Metro Chicago

by Kristin Harlow

ST. CHARLES, ILL. — JLL Capital Markets has brokered the $17.3 million sale of a freestanding retail property occupied by Whole Foods in the western Chicago suburb of St. Charles. The newly renovated building features a 20-year NN lease with the tenant. The property was formerly home to Blue Goose Market, a grocer that operated at the site for nearly a century as downtown St. Charles’ only grocery store. Alex Sharrin, Mohsin Mirza and Torri Rosene of JLL represented the sellers, Swanson Development Group and Fort Union. The buyer was an affiliate of Benenson Capital Partners.

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DevelopmentIllinoisIndustrialMidwest

Opus Breaks Ground on 52,174 SF Build-to-Suit Facility for Elgin Recycling in Gilberts, Illinois

by Kristin Harlow

GILBERTS, ILL. — Opus has broken ground on a 52,174-square-foot build-to-suit facility for Elgin Recycling in Gilberts, about 50 miles northwest of Chicago. The project will be part of Turnberry Lakes Business Park, where Elgin Recycling’s headquarters and one its four Chicago-area recycling scrap yards are also located. Elgin Recycling is a family-owned operation that processes ferrous and non-ferrous metals, exotic alloys and electronics. The new Gilberts location will process recycled electronics from public drop-off facilities, breaking them down into components that will then be transported to electronics components recyclers. The Gilberts facility will feature a clear height of 28 feet, six dock doors, two drive-in doors and up to 58 vehicle parking stalls. Opus is the design-builder for the project and is working in partnership with Architects Plus Design Studio PLLC, the architect of record, and Structural Integrity Inc., the structural engineer of record. Completion is slated for January.

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Market ReportsMixed-UseRestaurantRetailSoutheastSoutheast Market ReportsVirginia

Richmond’s Mixed-Use Boom Fuels the City’s Retail Market

by John Nelson

The Richmond retail market has maintained strong fundamentals as the city’s diverse economic base and solid residential growth continue to fuel a historically low vacancy rate.  Demand is very strong from a variety of uses, ranging from soft goods and restaurants to entertainment and personal services such as med spas and boutique fitness. The coffee segment, long dominated by Starbucks Coffee, has seen a number of new competitors enter the market. Dunkin’ has been on a strong growth cycle, and more recently Dutch Bros Coffee, Scooters Coffee, Foxtail Coffee and PJs Coffee have been actively looking for sites. 7 Brew has been particularly active, opening two new stores and filling their pipeline with additional sites.   However, the real story in Richmond is the number of mixed-use projects that are in the planning stages or have broken ground, with virtually all of them anchored by a grocery store.  In Chesterfield County, the first phase of development for Springline at District 60 is near completion. Located at the intersection of Midlothian Turnpike and Chippenham Parkway, work was recently completed on a new 150,000-square-foot office building anchored by Timmons Group, while the 298-unit apartment building, The James at Springline, is nearing completion. …

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Town-Laurel-Crossing-Buford-Georgia
AcquisitionsGeorgiaLoansMultifamilySoutheastTop StoriesWalker & Dunlop

Walker & Dunlop Arranges Sale, Acquisition Financing for Metro Atlanta Apartment Communities Totaling 707 Units

by Taylor Williams

BUFORD AND KENNESAW, GA. — Walker & Dunlop (NYSE: WD) has arranged the sale of and provided Freddie Mac acquisition financing for Town Laurel Crossing and Manor Barrett, two apartment communities in the metro Atlanta area totaling 707 units. The transactions represent a total of $352.8 million in capital movement and placement. The name of the borrower, a private multifamily owner-operator, was not disclosed. Both properties are currently listed under rebranded names on the website of Denver-based Mission Rock Residential, which provides third-party management services for the assets. The properties were both built in 2024. Chris Goldsmith, Telly Fathaly and Cameron Dunn of Walker & Dunlop represented the seller, Related Group, in both transactions. Mary Stuart Hurst and Fletcher Dunn of Walker & Dunlop led the debt origination efforts on behalf of the new owner. Town Laurel Crossing is a 360-unit community located within the Exchange at Gwinnett shopping district in Buford, a northeastern suburb of Atlanta. According to Apartments.com, the property offers one-, two- and three-bedroom units that range in size from 752 to 1,550 square feet. Amenities include a pool, fitness center, lounge, clubhouse, dog park and outdoor grilling and dining stations. Manor Barrett is a 347-unit community …

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RetailWashingtonWestern

Starbucks to Close Stores, Lay Off Workers in $1B Restructuring Effort

by Kristin Harlow

SEATTLE — Starbucks Coffee has announced that it will be eliminating roughly 900 non-retail U.S. jobs, with additional plans to close several hundred underperforming company-operated stores, as part of a broader $1 billion restructuring effort. The company’s store count will decrease by about 1 percent, which translates to roughly 500 closures for the company, as reported by CNBC. Starbucks plans to end its fiscal year with almost 18,300 North American locations, including both company-operated and licensed cafés.  Brian Niccol, chairman and CEO of Starbucks Coffee, stated that baristas from closing locations will receive severance packages or will be transferred to nearby locations. The latest store closures and layoffs at Starbucks are part of Niccol’s wide-ranging turnaround strategy in his first year at the company.  Starbucks has reported six consecutive quarters of declining same-store sales, as well as a previous round of 1,100 corporate layoffs in February. 

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DevelopmentFloridaIndustrialSoutheast

Foundry, Wheelock Street Capital to Develop 474,000 SF Festival Logistics Park in South Florida

by John Nelson

POMPANO BEACH, FLA. — A partnership between Foundry Commercial and Wheelock Street Capital has purchased the former Festival Flea Market site at 2900 W. Sample Road in Pompano Beach. The duo plans to transform the 25-acre property into Festival Logistics Park, a 474,000-square-foot development with three buildings ranging in size from 60,000 to 300,000 square feet. Two of the buildings will front Sample Road, and all buildings will feature 32- to 36-foot clear heights, ESFR sprinkler systems, dock-high loading and ample parking. Foundry and Wheelock Street Capital plan to begin demolition of existing structures on the Festival site in the fourth quarter and deliver the park by the end of 2026. The co-developers have tapped Nick Wigoda and Steve Medwin of Stream Realty Partners to manage leasing at Festival Logistics Park.

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Jefferson-Bonnie-Brae-Denton
DevelopmentMultifamilyTexas

JPI Breaks Ground on $132M Workforce Housing Project in Denton, Texas

by Taylor Williams

DENTON, TEXAS — Locally based multifamily developer JPI has broken ground on Jefferson Bonnie Brae, a $132 million workforce housing project that will be located in the North Texas city of Denton. Jefferson Bonnie Brae will consist of five residential buildings and one leasing and amenity building. Of the development’s 461 units, 66 percent will be one-bedroom apartments, 30 percent will be two-bedroom residences and 4 percent will be three-bedroom units. Amenities will include a pool, fitness center, dog park, pickleball court and open green spaces. The first units are expected to be available for occupancy in the third quarter of next year, with full completion slated for 2027.

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