Property Type

Marcus & Millichap Brokers $2.5M Sale of Columbus Industrial Property

by Kristin Harlow July 16, 2025

COLUMBUS, OHIO — Marcus & Millichap has brokered the $2.5 million sale of a 25,360-square-foot industrial property in Columbus. Located at 2536 Creekway Drive, the asset is fully leased to Service Partners under a new triple-net lease with 2.5 percent annual increases through May 2029. The tenant, a subsidiary of TopBuild Corp., occupies both bays of the facility, which was built in 1988 on 1.5 acres. Service Partners relocated to the site in summer 2024 from Mansfield, Ohio. Nathan Pealer of Marcus & Millichap represented the seller, an entity doing business as RM-USE LLC. The property sold for 99 percent of the asking price.

July 16, 2025

Acquisitions Midwest Retail Wisconsin

NAI Pfefferle Arranges Sale of 8,500 SF Retail Building in Brookfield, Wisconsin

by Kristin Harlow July 16, 2025

BROOKFIELD, WIS. — NAI Pfefferle has arranged the sale of an 8,500-square-foot retail building in the Milwaukee suburb of Brookfield. The sales price was undisclosed, but the asking price was just under $3 million. Jan Kadow of NAI Pfefferle brokered the sale of the property, which is located at 200 N. Moorland Road.

July 16, 2025

Leasing Activity Michigan Midwest Retail

Beem Light Sauna to Open 2,025 SF Location at Boardwalk Shopping Center in Suburban Detroit

by Kristin Harlow July 16, 2025

WEST BLOOMFIELD TOWNSHIP, MICH. — Beem Light Sauna has signed a 2,025-square-foot lease to open at The Boardwalk shopping center in West Bloomfield Township, a northwest suburb of Detroit. Michael Murphy of Gerdom Realty & Investment represented the landlord, Beztak Properties. Jacob Farber of Morow Hill represented the tenant, which is a light therapy wellness studio. The lease marks the tenant’s second location in Michigan.

July 16, 2025

Colorado Market Reports Multifamily Western Western Market Reports

Denver Multifamily: Positioned for a Strong Rebound

by John Nelson July 16, 2025

— By Jason Koch and Adam Riddle of MMG Real Estate Advisors — espite recent challenges, the Denver multifamily market is showing clear signs of a comeback. With new supply beginning to taper off, demand accelerating, and investor confidence returning, 2025 is shaping up to be a year of renewed opportunity for multifamily owners and investors. Momentum Is Building Behind the Numbers After a year of downward pressure, Denver’s multifamily market is beginning to turn the corner. First-quarter 2025 recorded net absorption of 2,544 units, a 170 percent jump from the prior quarter indicating a surge of renter demand. Over the past 12 months, absorption reached 9,200 units, the highest total since 2021. MMG Managing Director Jason Koch notes, “Demand is back. Lease-ups are moving more quickly, especially for quality, well-located product. It’s clear that renters still want to be in Denver.” While average rent is down 3.4 percent year-over-year, the first quarterly uptick in nearly a year suggests the bottom may already be behind us. At $1,813, Denver remains one of the strongest-performing rental markets in the Mountain West, particularly in suburban pockets where new supply is limited. High-Quality Product Leading the Charge Much of the recent absorption has …

July 16, 2025

Company News Data Centers Industrial Leasing Activity Northeast Pennsylvania Top Stories

CoreWeave to Invest $6B for AI-Based Data Center in Lancaster, Pennsylvania

by Abby Cox July 16, 2025

LANCASTER, PA. — CoreWeave (NASDAQ: CRWV), a New Jersey-based data center owner-operator, plans to invest “more than $6 billion” in a new purpose-built artificial intelligence (AI) data center in Lancaster, about 80 miles west of Philadelphia. CoreWeave plans to lease the site, which will be co-developed by Chirisa Technology Parks and Machine Investment Group. Located at 216 Greenfield Road and 1375 Harrisburg Pike, the Lancaster facility will replace the former LSC Communications and R.R. Donnelley printing plants, which comprise a combined 1.5 million square feet of industrial space across 144 acres, according to Lancaster Online. The data center will have the capacity to consume 100 megawatts (MW) of power, with the potential to expand to 300 MW, representing one of the first large-scale data centers of its kind in the region, according to CoreWeave. CoreWeave’s announcement came during the CEO roundtable with President Donald Trump at Senator Dave McCormick’s inaugural Pennsylvania Energy and Innovation Summit, hosted at Carnegie Mellon University in Pittsburgh. “This Energy and Innovation Summit is a powerful testament to Pennsylvania’s readiness and ability to lead — to generate thousands of good-paying jobs, to unleash our incredible energy resources and to power the next AI and economic revolution, further …

July 16, 2025

Acquisitions California Retail Western

Space Investment Partners Buys Grocery-Anchored Shopping Center in Fullerton, California for $118.5M

by Amy Works July 15, 2025

FULLERTON, CALIF. — Space Investment Partner has acquired Fullerton Metrocenter, a grocery-anchored retail center in Fullerton, from Kite Realty for $118.5 million. Located at 1375 Harbor Blvd., Fullerton Metrocenter offers 385,703 square feet of retail space occupied by more than 40 national and local retail tenants, including Sprouts Farmers Market, Target, Urban Air Adventure Park and PetSmart. The property was built in 1988 and renovated in 2002. At the time of sale, the property was 97 percent occupied. Christopher Hoffmann, Mark Damiani and Chase Levra of Eastdil Secured represented the seller in the transaction. Eastdil also arranged acquisition financing on behalf of the buyer. Greg Stampley and Jessica Henning of Eastdil Secured led the debt process.

July 15, 2025

Acquisitions Retail Southeast Virginia

Lucky Strike Entertainment Buys 58 Existing Bowling Alleys for $306M

by John Nelson July 15, 2025

RICHMOND, VA. — Richmond-based Lucky Strike Entertainment, operator of bowling alleys and entertainment venues that formerly operated as Bowlero, has purchased 58 of its existing locations for $306 million. The deal aims to reduce annual rent obligations, while eliminating the risk of future lease inflation, say company representatives. Lucky Strike will continue to operate each of the locations after the deal closes. The transaction was financed through a $230 million bridge facility under Lucky Strike’s revolving credit line, as well as cash on hand. Spanning 16 states, the 58-property portfolio includes locations in California, Illinois, Georgia, Arizona and Colorado, as well as 11 other states.

July 15, 2025

Acquisitions Georgia Office Southeast

Third & Urban Acquires Georgia 400 Center Office Campus in Alpharetta Totaling 430,046 SF

by John Nelson July 15, 2025

ALPHARETTA, GA. — Third & Urban has acquired Georgia 400 Center, a three-building office campus in Alpharetta, a northern suburb of Atlanta. The 430,046-square-foot office park is situated on 24 acres at the interchange of Ga. Highway 400 and Haynes Bridge Road. The seller and sales price were not disclosed. Jay O’Meara, Ryan Reethoff and Justin Parsonnet at Newmark represented the seller in the transaction. Third & Urban purchased the office campus in partnership with Zalik Investment Group. The new ownership is retaining Stephen Clifton, Zach Wooten and Payton Maxheimer of Cushman & Wakefield as the property’s leasing team. The locally based buyer, which is known as a developer of infill mixed-use destinations, plans to modernize the office campus with value-add improvements, including new roofs, lobby renovations and an elevated amenity lounge with a bar, conference center and recreational games. Georgia 400 Center was 67 percent leased at the time of sale to tenants including Morgan Stanley, Century Communities of Georgia and Toll Brothers. Trinity Partners will manage the office campus on behalf of the new ownership.

July 15, 2025

Development Industrial Southeast Tennessee

Brennan Breaks Ground on Two Metro Nashville Distribution Centers Totaling 351,200 SF

by John Nelson July 15, 2025

LA VERGNE, TENN. — Brennan Investment Group has broken ground on two distribution centers in La Vergne, a city in Nashville’s Southeast industrial submarket. Brennan plans to deliver the two Class A properties, which will total 351,200 square feet, in second-quarter 2026. The facilities will be located on a 29-acre site that is within five miles of I-24 and within 10 miles of Nashville International Airport. Chicago-based Brennan will build 167,200- and 184,000-square-foot, rear-load industrial buildings, each designed to accommodate up to four tenants with ample trailer and employee parking, 32-foot clear heights and ESFR sprinkler systems.

July 15, 2025

Acquisitions Georgia Retail Southeast

Legacy Realty Arranges Sale of 174,459 SF Shopping Center in Columbus, Georgia

by John Nelson July 15, 2025

COLUMBUS, GA. — Legacy Realty Group has arranged the sale of Manchester Square, a 174,459-square-foot shopping center in Columbus. Situated at the intersection of Woodruff Farm and Milgen roads, Food Depot anchors the property. Other tenants include Ollie’s Bargain Hunt, O’Reilly Auto Parts, Planet Fitness, Subway, T-Mobile, H&R Block, Unlimited Wireless, Peluso’s Italian Restaurant and Rainbow Fashions. Built in 1988, the property sits on 22 acres. Jacob Baruch, Jonah Warshaw and Daniel Baruch of Legacy Realty Group Advisors represented both the buyer and seller, Arkansas-based CORE Equity Partners, in the transaction. The sales price was not disclosed.

July 15, 2025

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