Saturday, April 11, 2026
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AcquisitionsIndustrialMidwestMissouri

SparrowHawk, Almanac Realty Acquire Distribution Center in Metro St. Louis for $28.5M

by Kristin Harlow

ST. PETERS, MO. — SparrowHawk, through a joint venture partnership with Almanac Realty Investors, has acquired Premier 370 DC II, a 366,900-square-foot distribution center on 20 acres in the Premier 370 Business Park in St. Peters near St. Louis. The purchase price was $28.5 million. Panattoni developed the property in 2023. Reaction Auto Parts occupies 265,393 square feet, while the remaining 101,000 square feet has been leased by Crown Packaging Corp. The building features a clear height of 36 feet, 60-foot loading bays, parking for 100 cars and 27 trailers, 13 dock-high doors, one drive-in door, an ESFR sprinkler system and LED lighting. Premier 370 Business Park is located at Highway 370 near I-70. Tenants include Amazon, Reckitt Benckiser and Medline. In late 2025, Almanac committed $300 million in growth capital to SparrowHawk, which utilized some of that capital for the acquisition of a 764,735-square-foot warehouse in Edgerton, Kan.

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AcquisitionsIndustrialMidwestMinnesota

Founders Properties Buys Two-Building Industrial Portfolio Near Minneapolis for $26.4M

by Kristin Harlow

EAGAN, MINN. — Founders Properties has acquired Gateway I & II, a fully leased, two-building industrial portfolio totaling 169,656 square feet on Lone Oak Road in Eagan, for $26.4 million. The properties, built in 2016 to 2018, feature a clear height of 24 feet, ample dock doors and fenced trailer parking. Judd Welliver and Bentley Smith of CBRE represented the undisclosed seller.

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LoansMidwestMissouriRetail

Gantry Arranges $22M Refinancing for Chesterfield Commons Shopping Center in Missouri

by Kristin Harlow

CHESTERFIELD, MO. — Gantry has arranged a $22 million permanent loan to refinance maturing debt for Chesterfield Commons, a retail power center in Chesterfield, a western suburb of St. Louis. Anchor tenants at the 750,000-square-foot inline center include Walmart, Sam’s Club, Lowe’s, Best Buy and Ross. Additional tenants include a mix of 40 restaurant, fast food, beauty, fashion, professional service, sporting goods, banking, home goods and health and wellness. Joe Monteleone and Rulin Dai of Gantry represented the borrower, a private real estate investor. One of Gantry’s correspondent insurance company lenders provided the five-year, fixed-rate nonrecourse loan, which offers full-term interest-only payments. Gantry will service the loan for the lender.

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EQT-real-estate-portfolio
AcquisitionsIndustrialMidwestNortheastPennsylvaniaSoutheastTexasTop StoriesWestern

EQT Real Estate Sells 7.3 MSF Logistics Portfolio Across 12 Markets

by Abby Cox

RADNOR, PA. AND LOS ANGELES — EQT Real Estate, on behalf of its EQT Real Estate Industrial Core-Plus Fund II, has sold a 36-property logistics portfolio totaling 7.3 million square feet across 12 markets. A real estate investment fund managed by Los Angeles-based Ares Management acquired the portfolio for $650 million, according to various media outlets. Marq Logistics, an affiliate of Ares Management, will manage the properties on behalf of the new ownership. “This transaction highlights EQT Real Estate’s strength in creating and realizing value across the investment lifecycle,” says Matthew Brodnik, global chief investment officer at EQT Real Estate. “The team combined thoughtful portfolio construction with EQT Real Estate’s differentiated hands-on active management to build a portfolio with strong underlying fundamentals, enhance its performance and ultimately deliver an outcome that reflects its quality and future potential.”  The portfolio spans distribution markets such as Chicago, Phoenix, Dallas, Atlanta, North Carolina, South Carolina, Southern California, Memphis, Columbus and Cincinnati. The properties are more than 95 percent leased to various tenants active in e-commerce, distribution, food-and-beverage and light manufacturing sectors. Amenities throughout the portfolio include 31-foot clear heights, cross-deck and rear-load configuration, truck courts and significant parking accommodations. John Huguenard, Trent Agnew, and …

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The-Shops-Park-Algodon-Phoenix-AZ
ArizonaDevelopmentIndustrialRestaurantRetailWestern

Creation Delivers $250M Park Algodon Industrial, Mixed-Use Development in Phoenix

by Amy Works

PHOENIX — Creation, a Phoenix-based developer, has completed construction for Park Algodon, an industrial and mixed-use development at the northwest corner of Loop 101 and Indian School Road in Phoenix. Spanning 86 acres, Park Algodon includes 1.3 million square feet of Class A industrial space and an adjacent 7-acre mixed-use destination with retail and restaurant space. The first phase of the industrial portion of Park Algodon was developed in partnership with Clarion Partners. The two-phase speculative industrial project includes four buildings, totaling 725,000 square feet, designed to accommodate tenants ranging from 30,000 square feet to 317,000 square feet. The industrial buildings offers 32-foot to 40-foot minimum clear heights, ample power and abundant employee parking. The second phase is permit-approved for a single 556,000-square-foot building. Separate from the joint venture, Creation developed The Shops at Park Algodon, a 14,000-square-foot restaurant and retail space. Buildings A and B will be delivered to tenants within the next 30 days. Confirmed tenants include Einstein Bros. Bagels, Chipotle, Luna Grill and Zara Nail Bar. LGE Design Build provided architectural and construction services for the project. Andy Markham and Phil Haenel of Cushman & Wakefield are handling leasing for the industrial component, while Matt Milinovich and James …

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Building-A-Park303-Glendale-AZ
ArizonaIndustrialLeasing ActivityWestern

Lincoln Property Co. Signs Tenant for 629,835 SF Industrial Lease at Park303 in Glendale, Arizona

by Amy Works

GLENDALE, ARIZ. — Lincoln Property Co. has announced that a global third-party logistics provider has signed a full-building, 629,835-square-foot lease at the 3.75 million-square-foot Park303 in Glendale. The new tenant will lease all of the Park303 Building A and use the space to service a Fortune 250 client. The transaction brings the 210-acre, LEED-certified industrial project to fully leased. Located along the Loop 303 in Glendale Avenue, Park303 includes a 1.25 million-square-foot, single building Phase 1 and a 2.5 million-square-foot, three-building Phase 2. The buildings feature 40-foot clear heights, 25-foot-tall glass entries and up to 12,000 amps of power. Phase 1 is fully occupied under a long-term lease by Walmart and was purchased by BentallGreenOak in 2021 for $186 million. The fully leased Phase 2 includes Logisticus Group LLC occupying the entire 483,000-square-foot Building B and DollarTree occupying Building C, which the company acquired in October 2025 for $147 million. Park303 features speculative office space, an outdoor pickleball and basketball court and an outdoor entertainment area with barbecues, overhead fans and seating.

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One-El-Paseo-Plaza-Palm-Desert-CA.jpg
AcquisitionsCaliforniaOfficeRestaurantRetailWestern

Bucksbaum Properties Buys One El Paseo Plaza Mixed-Use Complex in Palm Desert, California

by Amy Works

PALM DESERT, CALIF. — Bucksbaum Properties has acquired One El Paseo Plaza, a mixed-use office and restaurant property in Palm Desert. Terms of the transaction were not released. Situated on 5 acres at 74199 El Paseo Drive and 74225 and 74245 Highway 111, One El Paseo Plaza offers 86,835 rentable square feet. The complex features two two-story office buildings and an adjacent restaurant pavilion — originally Palm Desert’s first commercial building. The buildings feature granite lobbies, flexible floor plates and a parking ratio of 3.5 spaces per 1,000 square feet, including assigned and covered parking.

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Villebois-Village-Center-Apts-Wilsonville-OR
DevelopmentMultifamilyOregonWestern

Capstone Partners Underway on 143-Unit Villebois Village Center Apartments in Oregon

by Amy Works

WILSONVILLE, ORE. — Capstone Partners has secured a $27.9 million construction loan from U.S. Bank to develop Villebois Village Center Apartments, a three-building multifamily community in Wilsonville. David Schaffer and John Petersen of Melvin Mark Capital Group originated the financing. Construction began in December 2025, with completion slated for mid-2027. Portland, Ore.-based C2K Architecture is serving as architect and Essex General Construction is the general contractor for the project. Located within the Villebois master-planned community, the project will feature 143 studio, one-, two- and three-bedroom apartments with quartz countertops, stainless steel appliances, 9-foot ceilings and air conditioning in larger units. The community also features 2,460 square feet of ground-floor commercial space, a fitness center, library/game room, top-floor lounge, bike center and pet-friendly features, including a dog wash station. The three buildings will surround a large public piazza with bocce courts, landscaping and heritage trees.

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IndustrialLoansMichiganMidwest

PCCP Provides $180.5M Refinancing for 2.1 MSF Industrial Park Near Detroit

by Kristin Harlow

HIGHLAND PARK, MICH. — PCCP has provided a $180.5 million senior loan to a joint venture between AEW Capital Management and Trident Capital Group for the refinancing of Oakland Park, a 10-building, 2.1 million-square-foot industrial park in Highland Park, about six miles north of downtown Detroit. Built between 1997 and 2020, the infill properties feature clear heights ranging from 24 to 32 feet, efficient loading ratios, ample truck parking and access to two major freeways. The park is located 10 miles away from Stellantis Detroit Assembly Complex and five miles from GM Factory Zero.

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DevelopmentMidwestMinnesotaMultifamilySeniors Housing

United Properties Begins Development of 143-Unit Active Adult Community in Minnesota

by Kristin Harlow

CORCORAN, MINN. — United Properties has broken ground on Amira Corcoran, a 143-unit active adult community in Corcoran, about 22 miles northwest of Minneapolis. The four-story development expands the Amira senior living portfolio in metro Twin Cities. The project will offer studio, one-, two- and three-bedroom apartments. Amenities will include a clubroom, fitness and yoga spaces, an arts and crafts studio, golf simulator lounge, walking trails and an outdoor amenity patio with a pool and hot tub. The first move-ins are anticipated in summer 2027. The project team includes architect Momentum Design Group, general contractor Eagle Building Co. and property manager Great Lakes Management.

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