OMAHA, NEB. — Marcus & Millichap has negotiated the sale of a 113-room Fairfield Inn & Suites hotel property in downtown Omaha. Adam Lewis is Marcus & Millichap’s Nebraska broker of record. The firm marketed the property on behalf of the seller and procured the buyer, both private investor groups. Fairfield Inn & Suites Omaha Downtown is located within walking distance of Charles Schwab Field, home of the College World Series.
GILBERT, ARIZ. — PCCP has provided a $51.8 million senior loan to a joint venture between Phoenix Capital Management and P.B. Bell for the cash-neutral refinancing of Everly at Morrison Ranch, a apartment community located in Gilbert. Built in 2025, the Class A, garden-style community features 236 apartments that were 97 percent occupied at the time of financing. Everly at Morrison Ranch, located at 4353 E. Elliot Road, includes 36 two-story buildings with an average unit size of 986 square feet. The unit mix includes one-, two- and three-bedroom floor plans with interiors featuring stainless steel appliances, quartz countertops, smart home technology, nine-foot ceilings and plank-style flooring. Community amenities include a resort-style pool and spa, private workspaces, EV charging stations, tot lot and a dog park. Select floor plans include attached or detached garages with additional detached garages available for rent. The property is self-managed by P.B. Bell.
TUCSON, ARIZ. — A public-private partnership (P3) between the University of Arizona, Mortenson and Mortenson Development has broken ground on The Catalina, a 1,300-bed residence hall project on the institution’s campus in Tucson. The community is being developed utilizing tax-exempt financing through a partnership with the Collegiate Housing Foundation and RBC Capital Markets. The nine-story development will offer suite-style units alongside a dining hall upon completion, which is scheduled for fall 2028. Further details on the project were not released.
WEST VALLEY CITY, UTAH — The State of Utah has purchased Franklin Campus, a five-building office development in West Valley City, part of the Salt Lake City metro area, for $40 million. The Utah Department of Health and Human Services will use the 312,234-square-foot office campus, which is situated on 21.7 acres, as its headquarters. Originally developed to serve as FranklinCovey’s corporate headquarters, the property features a cafeteria, fitness center and auditorium. Brandon Fugal and Chris Kirk of Colliers handled the transaction.
FRESNO, CALIF. — JBT Property Management has sold Maroa Park Apartments, a 248-unit multifamily property in Fresno, to a private buyer for $44 million. Located at 475-585 W. Sierra Ave., Maroa Park features one- and two-bedroom units with an average size of 878 square feet. Otto Ozen, Brian Nakamura and Nazli Santana of The Mogharebi Group (TMG) represented the seller in the deal.
WHITE PLAINS, N.Y. AND SUNNY ISLES BEACH, FLA. — Mavis Tire Express Services Corp. and Icahn Enterprises LP (NASDAQ: IEP) have entered into a definitive agreement under which a subsidiary of Mavis will acquire Pep Boys from Icahn Automotive Group LLC for approximately $700 million in cash. IEP will retain the owned real estate previously transferred to IEP from Pep Boys, as well as the AAMCO Transmissions and Precision Tune Auto Care businesses. Formally named The Pep Boys-Manny, Moe & Jack Holding Corp., Pep Boys is an automotive service company offering tires, repairs, oil changes and maintenance services from nearly 800 retail locations nationwide. Navy veterans Emanuel “Manny” Rosenfeld, Maurice “Moe” Strauss and Graham “Jack” Jackson founded the company in 1921. According to Mavis, the acquisition expands its presence in new and existing markets, particularly across the Western United States where Pep Boys maintains a significant retail footprint. The deal grows Mavis’ network to more than 4,400 service center locations across the United States and Canada. “Pep Boys brings a loyal customer base, deep-rooted market presence across the United States and a distribution network that will meaningfully enhance our supply chain nationwide,” says David Sorbaro, co-CEO of Mavis. “As part …
SAN ANTONIO — Dallas-based Rosewood Property Co. has begun leasing a 359-unit multifamily project in the Alamo Heights area of San Antonio that represents Phase III of a larger development known as Tobin Estates. In addition to the 265 apartments that will be housed in four-story wraparound buildings, Phase III features 94 units with private garages within two four-story buildings. Units come in one-, two- and three-bedroom floor plans, and amenities include a pool, indoor and outdoor fitness centers, resident lounge and a rooftop deck. Project partners included Provident General Contractors, WDG Architecture, civil engineer Westwood and construction lender InterBank. Construction began in May 2024. Information on starting rents was not disclosed.
HOUSTON — Holt Lunsford Commercial Investments (HLCI) has completed Par 1960, a two-building, 254,186-square-foot industrial project in northwest Houston. Building 1 spans 204,375 square feet and features 32-foot clear heights and a front-load configuration. Building 2 totals 49,811 square feet and features 28-foot clear heights and a rear-load configuration. Cushman & Wakefield is the leasing agent for the buildings. Construction began in late 2024.
HOUSTON — Cooler Master Corp. has signed a 97,285-square-foot industrial lease in West Houston. The deal is for the entirety of Building 2 within Grand West Crossing, a development that is ultimately planned to feature six buildings, two of which are now complete and two of which are under construction. Richard Quarles, Jarret Venghaus, Geoff Perrott and Eliza Klein of JLL represented the landlord, Mississippi-based EastGroup Properties, in the lease negotiations. The tenant representative was not disclosed.
NEW CANEY, TEXAS — Partners Real Estate has brokered the sale-leaseback of a 55,700-square-foot industrial building in New Caney, a northeastern suburb of Houston. According to LoopNet Inc., the building at 18913 Phillip Way was constructed in 2020 and features 30-foot clear heights. Griff Brandy, Ryan Osborn, Wyatt Huff and Hunter Stockard of Partners represented the seller and tenant, New Caney Beverage, in the transaction. The buyer and sales price were not disclosed.