PASADENA, CALIF. — GreenTree Hospitality Group has completed the sale of GreenTree Pasadena Inn in Pasadena to a private buyer for an undisclosed price. Stanley Wang and Gordon Allred of the Allred Hotel Group at Marcus & Millichap represented the seller in the deal. Located at 400 S. Arroyo Parkway, GreenTree Pasadena Inn is situated a few blocks from the Pasadena Convention Center, Old Pasadena and the historic Rose Bowl.
FAIRFIELD, CALIF. — The Picklr has signed a lease to open an 18,500-square-foot facility at 1574 Gateway Blvd. in Fairfield. Slated to open in May, the location will be The Picklr’s second Northern California facility. The Picklr Fairfield will offer seven pickleball courts, including one championship court, AI-powered coaching technology, league play, tournaments and drop-in play opportunities. Additional amenities will include a pro shop, grab-and-go food-and-beverage options, private event spaces, locker rooms and showers, outdoor surfacing areas and court reservations. John Brecher of JLL represented The Picklr in the lease negotiations. Founded in 2021, The Picklr is a membership-based indoor pickleball club concept designed to provide high-quality courts for players of all levels.
LOWELL, MASS. — Regional owner-operator Arrowhead Properties has sold a 51-unit apartment building in the northern Boston suburb of Lowell. Wood Crest Apartments consists of two studios, 20 one-bedroom units and 29 two-bedroom residences that were fully occupied at the time of sale. Arrowpoint, which acquired the asset in late 2020 and implemented capital improvements, sold the building as part of a 1031 exchange. The buyer and sales price were not disclosed.
ELGIN, ILL. — Lee & Associates of Illinois and CBRE have arranged the sale of a 510,000-square-foot, 82-acre former corporate campus and ministry facility at 1000 N. Randall Road in Elgin. Kenneth Franzese and John Cassidy of Lee & Associates and Tony Gange of CBRE represented the seller, Harvest Bible Chapel. The self-represented buyer was Acts2Network, a Christian organization based in California. Originally developed as Safety-Kleen’s world headquarters in 1993, the property includes a roughly 350,000-square-foot office building wrapped around a multi-story parking deck, plus a 160,000-square-foot addition developed by Harvest Bible Chapel to accommodate an academy, worship center, gym and multipurpose ministry space. Amenities include a 2,100-seat auditorium, athletic center, production studios, training rooms, a cafeteria with full kitchen, visitor café and related support areas. The transaction terms included a longer-term leaseback for Harvest Bible Chapel’s academy and portions of its corporate offices, worship center and support spaces. Prior to closing, Acts2Network and Harvest Bible Chapel began cohabitating the campus. Shared spaces such as the worship center and gym serve both organizations.
MOKENA, ILL. — Inland Real Estate Acquisitions LLC has purchased Clarendale of Mokena, a 156-unit senior living community in Mokena, a southwest suburb of Chicago. The property features 60 independent living residences, 56 assisted living units and 40 memory care units. Amenities include a bistro, pub, dining room, fitness studio, theater room, salon, outdoor patio and landscaped grounds. Clarendale of Mokena was 94 percent occupied at the time of sale. Inland’s Matthew Tice and Brett Smith completed the transaction on behalf of an Inland affiliate. A joint venture between LCS and Nuveen Real Estate was the seller. LCS Community Operations will continue to provide management services for the community and its residents.
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.
