Friday, July 3, 2026
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Summit-Logistics-Center-Buckeye-AZ
AcquisitionsArizonaDevelopmentIndustrialWestern

Scannell Properties Buys 129 Acres in Buckeye, Arizona for Development of Summit Logistics Center

by Amy Works

BUCKEYE, ARIZ. — Scannell Properties has acquired 129 acres at the northwest corner of Southern Avenue and Rooks Road in Buckeye from Scottsdale-based Arizona Land Consulting for the development of Summit Logistics Center. The sales price was $32.5 million. Mike Haenel, Andy Markham, Phil Haenel, Foster Bundy, Justin Smith and Jordan Sims of Cushman & Wakefield represented the buyer and seller in the transaction. Brian Lee of Cushman & Wakefield also represented the seller. Scannell Properties plans to break ground on Phase I of the project in the third quarter. The first phase will comprise a 1.1 million-square-foot industrial facility designed for large-scale logistics and distribution users. The building will feature 40-foot clear heights, 3,500 square feet of office space, 240 dock-high doors and four ground-level doors.

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Foothill-Village-SLC-UT
DevelopmentRetailUtahWestern

Asana Partners Invests $25M for Redevelopment of Retail Center in Salt Lake City

by Amy Works

SALT LAKE CITY — Asana Partners has invested $25 million to redevelop Foothill Village, a 260,000-square-foot retail center located in the East Bench neighborhood of Salt Lake City. The center, which is anchored by grocer Dan’s Fresh Market, features a new central plaza, open-air breezeways, six new tenants and two levels of retail shops. New tenants that will be joining the property later this year include Magnolia Bakery, Zao Asian Café and MD Hyperbaric. JD Flannel Donuts, Mo’ Bettahs and fitness concept [solidcore] have already opened at the center. The final phase of construction, which will be executed in partnership with Salt Lake City in order to connect the center to Curtis Park, will be completed this month.

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University-Flats-Greeley-CO
AcquisitionsColoradoMultifamilyStudent HousingWestern

Transwestern Brokers $16.7M Sale of 262-Bed Student Housing Community in Greeley, Colorado

by Amy Works

GREELEY, COLO. — Transwestern’s National Student Housing team has brokered the $16.7 million sale of University Flats, a student housing community located at 1758 6th Ave. in Greeley. An entity doing business as 1758 6th Avenue LLC acquired the asset for $63,922 per bed. Mike McGaughy, Jon Kleinberg and John Blackshire of Transwestern executed the transaction on behalf of the undisclosed seller via the RI Marketplace commercial real estate auction platform. Serving the University of Northern Colorado, University Flats features 262 beds and is located three blocks from campus. At the time of sale, the property was 97 percent occupied and 84 percent preleased for the 2026-2027 academic year.

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Monaco-South-Apts-Denver-CO.jpg
AcquisitionsColoradoMultifamilyWestern

Marcus & Millichap Arranges Sale of 220-Unit Workforce Housing Property in Denver

by Amy Works

DENVER — Marcus & Millichap has brokered the sale of Monaco South, a 220-unit workforce housing property in Denver. Greg Parker and Jason Hornik of Marcus & Millichap represented the undisclosed seller in the deal. Terms of the transaction were not released. Monaco South features convenient access to major employment centers, regional transportation corridors and a broad range of retail, dining and recreational amenities.

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AcquisitionsDevelopmentHospitalityMichiganMidwest

CooperWynn Capital Arranges Financing for Acquisition, Rebrand of 203-Key Detroit Hotel

by Kristin Harlow

DETROIT — CooperWynn Capital has arranged an undisclosed amount of financing, including bridge debt and joint venture equity, for the acquisition and conversion of the 203-key DoubleTree Suites Detroit Downtown Fort Shelby hotel. The borrower is 6PM Hospitality Partners LLC. The property, which is listed on the National Register of Historic Places, will be rebranded as an Embassy Suites by Hilton and will undergo extensive renovations to guestrooms, public spaces, food-and-beverage outlets and meeting spaces. The hotel is expected to reopen later this year as a 204-key, all-suite hotel that will be managed by 6PM Hospitality Partners. The asset was originally constructed in 1917 and designed by renowned Detroit architect Albert Kahn. The hotel underwent a restoration in 2008 in connection with its repositioning under the DoubleTree by Hilton brand, followed by a refresh in 2023.

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AcquisitionsIllinoisIndustrialLee & AssociatesMidwest

Lee & Associates Brokers $24.8M Sale of Industrial Building in Elgin, Illinois

by Kristin Harlow

ELGIN, ILL. — Lee & Associates of Illinois has brokered the sale of a 442,601-square-foot industrial building located northwest of Chicago in Elgin. Rigid plastics manufacturer PJP Holdings purchased the facility for $24.8 million with plans to modernize it, inclusive of the surrounding infrastructure. Frank Griffin and Mike Adams of Lee & Associates represented the buyer, while law firm Liston & Tsantilis assisted on the transaction. Jack Brennan and Steve Bass of NAI Hiffman represented the seller, JP Elgin Project Co. LLC. The transaction marks the second-largest industrial building sale in metro Chicago in 2026 for square footage, according to Lee & Associates. The sale involved the utilization of Illinois’ 6B tax abatement program, which drives industrial investment, redevelopment and job creation in the region. PJP occupies four facilities in metro Chicago.

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AcquisitionsIndianaIndustrialMidwest

Colliers Negotiates Sale of 324,880 SF Industrial Facility in Indianapolis

by Kristin Harlow

INDIANAPOLIS — Colliers has arranged the sale of County Line Commerce Park Building II, a 324,880-square-foot industrial facility in southern Indianapolis. Built by Peterson Construction in 2025 as a build-to-suit project, Building II sits on 26.8 acres and features a clear height of 36 feet, 25 dock-high doors and 330 parking spaces. The building is the first to be completed within County Line Commerce Park, a 117-acre master-planned industrial complex that is planned to eventually feature four industrial buildings, two retail outlets and a hotel. Alex, Cantu, Alex Davenport, Jeff Devine, Steve Disse and Tyler Ziebel of Colliers represented the seller, a joint venture between Citimark and developer Gershman Partners, in the transaction. The buyer, Alfa Laval, a Swedish heating equipment manufacturer, occupies the facility for its North American manufacturing, testing and research and development headquarters.

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Leasing ActivityMidwestMissouriRestaurantRetail

Sobremesa Opens New Restaurant at Streets of St. Charles in Missouri

by Kristin Harlow

ST. CHARLES, MO. — Sobremesa has opened a new Mexican restaurant at Streets of St. Charles, a mixed-use property located northwest of St. Louis. The restaurant, located in Suite 130 at 1660 Beale St., joins two hotels, a movie theater, apartments, office space and other restaurants at the development. Cullinan Properties owns and operates the 27-acre Streets of St. Charles.

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Market ReportsMidwestMidwest Market ReportsRetailWisconsin

Suburban Momentum Reshapes Milwaukee’s Retail Landscape

by Kristin Harlow

By Brian Vanevenhoven and Joseph Ziolkowski, Newmark The metro Milwaukee retail market remains strong, supported by historically low vacancy rates. Elevated construction costs — and the resulting pressure on rents — continue to limit new construction, keeping inventory low and occupancy high. The western suburbs have the lowest vacancies in the region and are seeing robust demand for available space. While the urban core continues to face challenges, the Historic Third Ward remains a bright spot, benefiting from favorable demographics and a cultivated consumer base driving strong retail sales.   Recent data underscores this trend. While Milwaukee County saw modest population growth in 2025, surrounding suburban counties are expanding at a faster pace, according to CoStar Group. Waukesha County alone has added more than 10,000 residents since 2020, according to the U.S. Census Bureau. This outward migration — driven by affordability, schools and lifestyle preferences — is creating new pockets of retail demand across the metro area. Drivers of growth Several factors are fueling suburban retail expansion. The continued strength of experiential retail, particularly in the fitness and wellness sector, is the most notable driver. Concepts such as Crunch Fitness and Planet Fitness have been among the most active tenants, …

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Conference CoverageData CentersFeaturesIndustrialNorth CarolinaSoutheastSoutheast Feature Archive

InterFace: Industrial Developers Are Fielding More Atypical Requirements from Tenants

by John Nelson

During his keynote address at InterFace I-85 Industrial Corridor, a two-day conference held May 19-20 at the Hilton Uptown Charlotte, Gregg Healy, executive vice president and head of industrial services at Savills, shared a quote from Charles Darwin to end his presentation. “It is not the strongest of the species that survives, nor the most intelligent, but the one most adaptable to change.” Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. Industrial owners and developers have had to be adaptable given the haymakers issued by macroeconomic forces the past several years. During the COVID-19 pandemic, they rode the reinvigorated demand wave for e-commerce fulfillment with large-scale developments in key transportation corridors. In the following years, they scaled down their pipelines to focus on smaller, more targeted requirements as construction and capital costs rose significantly. And since Liberation Day, when the Trump administration declared a sweeping package of tariffs for foreign trade partners and specific commodities in April 2025, industrial developers have been building and leasing facilities for domestic and global manufacturers that were nearshoring their investments. Today, owners and …

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