Thursday, November 5, 2026
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8530-8550-S-Priest-Dr-Tempe-AZ
AcquisitionsArizonaOfficeWestern

Transwestern Brokers $20.5M Sale of Two Office Buildings in Tempe, Arizona

by Amy Works

TEMPE, ARIZ. — Transwestern Real Estate Services has arranged the sale of two office buildings located at 8530-8550 S. Priest Drive in Tempe. Widewaters acquired the asset from Target Corp. for $20.5 million. Built in 2003 and renovated in 2019, the asset features two two-story, 94,480-square-foot buildings and a two-level parking garage. The 25-acre lot offers direct access to Interstate 10 and Loop 202. Paul Borgesen, Dylan Sproul and Royden Hudnall of Transwestern represented the buyer, while Bill Bayless of CBRE represented the seller in the deal. William Zurek and Jim Achen Jr. of Transwestern joined the acquisition team to market the property for either sale or lease.

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1050-Laurel-Rd-Oakley-CA
AcquisitionsCaliforniaNet LeaseRetailWestern

RealSource Group Arranges Sale of 7-Eleven Ground Lease in Oakley, California

by Amy Works

OAKLEY, CALIF. — RealSource Group has arranged the ground lease sale of a single-tenant convenience store and fuel station located at 1050 Laurel Road in Oakley. California Capital & Investment Group sold the asset to 7-Eleven, which exercised its Right of First Refusal on the property, for an undisclosed price. Jonathan Schiffer and Austin Blodgett of RealSource represented the seller in the deal. 7-Eleven occupies the 3,795-square-foot building that was built in 2019 on 1.2 acres. The property is subject to a triple-net ground lease with over nine years remaining on the initial 15-year term, 10 percent rent increases every five years and three five-year renewal options.

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AcquisitionsMidwestMinnesotaMultifamily

JLL Brokers Sale of 95-Unit Park Villas Apartments in Waite Park, Minnesota

by Kristin Harlow

WAITE PARK, MINN. — JLL Capital Markets has brokered the sale of Park Villas Apartments, a 95-unit community situated on 7 acres in Waite Park, a city in central Minnesota. The property features 71 one-story, cottage-style units and 24 two-story townhomes for residents age 55 and older. The community was built in 1991 and renovated in 2008. Units average 931 square feet. Josh Talberg, Joseph Peris, Ken Dayton, Pat McMullen and Jack Graveline of JLL represented the seller, Podawiltz Development Corp., and procured the buyers, Noel Johnson and Jamison Kohout of Venture Development Group.

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DevelopmentIllinoisMidwestOffice

BIG Construction, Ware Malcomb Complete 24,230 SF Office for ZS in Chicago

by Kristin Harlow

CHICAGO — BIG Construction and architect Ware Malcomb have completed a new 24,230-square-foot office for ZS at 222 Merchandise Mart Plaza in Chicago. Founded in 1983, ZS is a global management consulting and technology firm. ZS maintains more than 13,000 employees in over 35 offices worldwide. The Chicago office features a mix of open work zones, closed office areas, meeting rooms and gathering spaces. A central café stands as a focal point of the design.

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IllinoisLeasing ActivityMidwestOffice

CRC Group Signs 20,000 SF Office Lease on Chicago’s Wacker Drive

by Kristin Harlow

CHICAGO — CRC Group has signed a 20,000-square-foot, full-floor office lease at 123 N. Wacker Drive in Chicago. The wholesale specialty insurance distributor will occupy the building’s 19th floor. Sterling Bay assumed leasing and management responsibilities of the property last year. Tenant amenities include a newly renovated lobby, tenant lounge, fitness center, coffee bar, conferencing center and upcoming ground-floor retail.

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AcquisitionsIndianaMidwestMultifamily

Marcus & Millichap Negotiates $4.9M Sale of Multifamily Property in Marion, Indiana

by Kristin Harlow

MARION, IND. — Marcus & Millichap has negotiated the $4.9 million sale of Park Forest Apartments in Marion, which is located about midway between Indianapolis and Fort Wayne. The 64-unit multifamily property at 1005 N. Park Forest Drive features two-bedroom units. Each 900-square-foot residence has undergone recent renovations, including new balconies, windows, HVAC systems and water heaters. Quentin Benedetto, Kyle Stengle and Jack Stanton of Marcus & Millichap represented the seller, Pentagon Investment Group. Benedetto and Stanton procured the buyer, Ross McCarthur, co-founder of Follow The Deal Investments.

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AcquisitionsIllinoisMidwestRetail

Quantum Arranges $2.8M Sale of Retail Center in Aurora, Illinois

by Kristin Harlow

AURORA, ILL. — Quantum Real Estate Advisors Inc. has arranged the $2.8 million sale of a 14,238-square-foot retail center in Aurora. At the time of sale, the property at 2380 S. Eola Road was 90 percent leased to tenants such as Subway, Dunkin’, Wing Snob and Smile Family Dental. Dan Waszak and Brett Berlin of Quantum represented the seller, a public REIT based in Florida. The buyer was a private investor based in Illinois.

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ColoradoIllinoisLoansMidwestOhioSeniors HousingTop StoriesWestern

Spectrum Retirement Receives $330M Refinancing for Seniors Housing Portfolio in Midwest, Southwest

by John Nelson

DENVER — Spectrum Retirement, a Denver-based seniors housing owner-operator, has received $330 million for the refinancing of a portfolio of eight seniors housing properties that are located across the Midwest and Southwest United States. Ryan Stoll and Taylor Mokris of BWE, a national commercial and multifamily mortgage banker, arranged the financing on behalf of Spectrum Retirement. The nonrecourse debt was structured with full-term interest-only payments and a “competitive” interest rate. “We are honored that Spectrum chose BWE to represent them in the debt capital markets for such a complex transaction,” says Stoll, national director of BWE’s Seniors Housing and Care team. “It is a privilege to partner with one of the industry’s most respected owners and operators, and Spectrum exemplifies the highest standard of excellence.” The direct lender was not released, but BWE disclosed that the lender was a “global private credit investor.” BWE also said the transaction drew interest from multiple capital sources, including agencies, life insurance companies, banks and private credit firms. The eight-property portfolio spans major metropolitan areas in four states, all of which benefit from attractive demographics and sustained demand for high-quality senior living, according to BWE. The properties include Green Oaks Senior Living and Palos Heights …

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Go-Store-It-Pawtucket-Rhode-Island
FeaturesIndustrialSelf-Storage

Self-Storage Offers Investment Reliability as Lifestyle Shifts Drive Consumer Demand

by Taylor Williams

By Katharine Lau, CEO and co-founder, Stuf Following a period of slower activity throughout 2023 and 2024, the self-storage industry is showing clear signs of restored momentum in 2025. According to StorageCafé’s Q1 2025 U.S. Self Storage Sales Report, investment sales volume in the sector hit $855 million nationwide — a notable 37 percent increase from the first quarter of 2024 — suggesting a fresh wave of investor and consumer confidence. While the commercial real estate market continues to face uncertainties, particularly with regard to persistent office vacancies, self-storage is emerging as a stable, demand-driven sector of the industry, propelled by shifting consumer behaviors, flexible business needs and creative adaptive reuse in urban markets. Self-storage demand continues to follow lifestyle shifts. At Stuf, we’re consistently seeing strong growth in the seven markets in which we operate, especially among millennial and gen Z renters, small business owners and remote workers who prioritize proximity, convenience and security when choosing a storage solution. Consumers are increasingly prioritizing smarter spaces that fit into their regular routines. The StorageCafé report shows that interest from large-scale, institutional investors in self-storage has rebounded in 2025, with several eight-figure transactions dotting the map in the first quarter. The …

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DevelopmentFloridaMultifamilySoutheast

Costis-Lifsey, American Land to Develop $187M Apartment High-Rise in Tampa

by John Nelson

TAMPA, FLA. — Costis-Lifsey Development LLC and American Land Ventures LLC have announced plans to develop Residences at Rocky Point, a $187 million apartment high-rise located at 2425 Rocky Point Drive in Tampa. The 21-story tower is being constructed on the waterfront site of the Rusty Pelican restaurant. Designed by Cube 3 and RSP Architects, the 252-unit apartment tower will feature units with two-level floorplans averaging 1,175 square feet in size. Amenities will include a structured parking garage, two-story lobby, a waterfront infinity pool, beachside cabanas and a rooftop area headlined by an 8,000-square-foot restaurant. The design-build team, which includes civil engineer Kimley-Horn, plans to break ground in early 2027 and wrap up construction by mid-2028.

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