Wednesday, July 1, 2026
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AcquisitionsLoansMultifamilySoutheastVirginia

Greysteel Brokers Sale of 173-Unit Sherwood Forest Apartments in Norfolk, Virginia

by John Nelson

NORFOLK, VA. — Greysteel has brokered the sale of Sherwood Forest, a 173-unit apartment community located at 2803 Early St. in Norfolk. Otto Snell of Greysteel represented the seller in the transaction. The buyer, seller and sales price were not disclosed. Jack Whitman of Greysteel arranged a $16 million acquisition loan through an undisclosed credit union that was underwritten with a fixed interest rate, 80 percent loan-to-value ratio, two years of interest-only payments and no prepayment penalty. The loan includes funds for property improvements at Sherwood Forest, which was originally delivered in 1965.

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AcquisitionsRetailSoutheastVirginia

SRS Arranges $6.8M Sale-Leaseback of Retail Property in Manassas, Virginia Leased to The Learning Experience

by John Nelson

MANASSAS, VA. — SRS Real Estate Partners has arranged the sale-leaseback of a single-tenant retail property located in Manassas, roughly 35 miles southwest of Washington, D.C., for $6.8 million. The Learning Experience, an early childhood education and childcare center, occupies the two-story, 11,150-square-foot property on a triple net lease basis. Originally built in 2023, the facility is operated by one of The Learning Experience’s largest franchisees. Situated at 10219 Dumfries Road, the property sits at the center of a retail corridor that includes a Walmart Supercenter, Harris Teeter, LA Fitness, Chick-fil-A, Raising Cane’s and Wawa convenience store. Andrew Fallon and Philip Wellde Jr. of SRS’ Washington, D.C. Capital Markets team represented the seller, an entity doing business as Ganges Manassas LLC, in the transaction. The 1031 exchange buyer was a Northern Virginia-based private investor. SRS has also listed a second site occupied by The Learning Experience in Northern Virginia for $7.6 million.

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MC820-Logistics-Fort-Worth
DevelopmentIndustrialTexas

Creation, Crow Holdings to Develop 451,032 SF Industrial Project in North Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — A partnership between Phoenix-based developer Creation and a fund advised by Crow Holdings Capital will develop a 451,032-square-foot industrial project in North Fort Worth. Known as MC820 Logistics, the development will consist of three buildings on a 38-acre site that will have parking for 473 cars and 42 trailers. LGE Design Build is leading the architecture and construction aspects of the project in collaboration with Manhard Civil Consulting. The first phase of construction is scheduled to begin this summer and to be complete in late 2026. Holt Lunsford Commercial has been tapped as the leasing agent.

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AcquisitionsDevelopmentRestaurantRetailTexas

Younger Partners Arranges Sale of 42-Acre Retail Development Site in Lucas, Texas

by Taylor Williams

LUCAS, TEXAS — Dallas-based brokerage firm Younger Partners has arranged the sale of a 42-acre retail development site in Lucas, roughly 30 miles northeast of Dallas. The buyer, an affiliate of Dallas-based Malouf Interests, plans to develop a 130,000-square-foot grocery-anchored shopping center, a 25,000-square-foot restaurant village with 15 adjacent pad sites and a community park on the site. Michael Ytem and Tom Grunnah of Younger Partners represented both the buyer and the seller, JCBR Holdings, in the transaction. Construction is slated to begin in the fourth quarter, with completion anticipated for 2026.

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CaliforniaDevelopmentMultifamilyWestern

Legacy Partners, DWS Break Ground on 200-Unit Apartment Community in Torrance, California

by Amy Works

TORRANCE, CALIF. — Legacy Partners, in partnership with DWS Group, has started construction of Soto, a 200-unit multifamily property in Torrance. Located at 3862 Carson St., Soto will offer studio, one- and two-bedroom layouts ranging from 633 square feet to 1,118 square feet. Soto will feature a rooftop pool and amenity deck with an indoor/outdoor fitness center, resident clubhouse, coworking area and two courtyards with pedestrian access from the street. The project team includes AO as designer and Westport Construction as general contractor. Completion is slated for summer 2027.

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AcquisitionsIndustrialSelf-StorageTexas

Marcus & Millichap Brokers Sale of Self-Storage Facility in Carrollton, Texas

by Taylor Williams

CARROLLTON, TEXAS — Marcus & Millichap has brokered the sale of a self-storage facility in the northern Dallas metro of Carrollton. Extra Space Storage operates the facility, which was built in 1996 and expanded in 2001. The facility totals 114,236 net rentable square feet of space across 143 climate-controlled units, 448 drive-up units, six office suites and 101 uncovered parking spaces. Brandon Karr of Marcus & Millichap represented the buyer and seller, both of which were locally based entities that requested anonymity, in the transaction.

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CaliforniaDevelopmentOfficeWestern

Allied Commercial Completes Conversion of Historic Los Angeles Post Office into Creative Campus

by Amy Works

LOS ANGELES — Allied Commercial has completed the conversion and restoration of an historic 85-year-old post office located at 1601 Main St. in the Venice area of Los Angeles. The 23,690-square-foot creative campus now serves as a versatile event space with dedicated artist studios, collaborative workspace, production offices and facilities, a mixed-use theater, recording studio, podcast suites, a coffee shop and an outdoor garden. Additionally, the site serves as the headquarters of Lighthouse Creative Group. The Louis Simon-designed post office was built as part of President Franklin Roosevelt’s New Deal. Completed in 1939, the Mediterranean Revival-style property was also adorned with an interior mural, “Abbot Kinney and the Story of Venice” painted by Edward Biberman in 1941. The conversion and restoration project reinstalled the mural and completed interior and exterior renovations and upgrades following rehabilitation guidelines from the Secretary of the Interior’s Standards of Historic Properties. The project team included Chattel as historic preservation consultants, Pacific Edge as project manager, Both Design Architects as architect and JTM Construction Group as general contractor.

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ArizonaDevelopmentRetailWestern

Diversified Partners Begins Development of 25,000 SF Shopping Center in Glendale, Arizona

by Amy Works

GLENDALE, ARIZ. — Diversified Partners has broken ground on Shops at the Cardinal, a 25,000-square-foot shopping center located in Glendale, approximately nine miles northwest of Phoenix. Situated near State Farm Stadium, the $20 million project will span 9 acres and feature a mix of retail and restaurant concepts, as well as multiple drive-thru options and outdoor seating. Confirmed tenants at the property — which is nearing full lease-up — include Swig; Señor Taco; Nautical Bowls; Starbucks Coffee; Bonchon; Pacific Dental Services; La Botana; Jeremiah’s Italian Ice; a Mexican sushi concept; a nail salon and spa; and McDonald’s, who will occupy its own building. Additionally, 1,200 square feet is still available for lease. Further tenant build-outs will begin later this year, with openings anticipated for early 2026. The Renaissance Cos. is serving as the general contractor, while RKAA Architects is designing the center.

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IndustrialLeasing ActivityTexas

Stream Realty Negotiates 68,342 SF Industrial Lease in Missouri City, Texas

by Taylor Williams

MISSOURI CITY, TEXAS — Stream Realty Partners has negotiated a 68,342-square-foot industrial lease in Missouri City, a southwestern suburb of Houston. According to LoopNet Inc., the building at 411 Cravens Road was built in 2020 and totals 290,373 square feet. Jeremy Lumbreras and Woody Hillyer of Stream represented the landlord, a partnership between New York-based Clarion Partners and 4M Investments, in the lease negotiations. Hunter Johnston of Bridge Commercial Real Estate represented the tenant, Jelly Comb Corp., a provider of computer keyboards and other office communications devices.

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CaliforniaDevelopmentRetailWestern

Miniso to Open 12,000 SF Store at Pacific Commons Shopping Center in Fremont, California

by Amy Works

FREMONT, CALIF. — Miniso, a global lifestyle brand known for its trendy, high-quality and affordable products, will open its largest Bay Area store at Pacific Commons Shopping Center in Fremont. Slated to open by year’s end, the 12,000-square-foot flagship location will be situated at Boscell Road and Curie Street, next to T.J. Maxx and across the street from Costco. Phoenix-based Vestar manages Pacific Commons Shopping Center at 880 Freeway at Auto Mall Parkway. The retail center is home to more than 55 restaurants and retailers, including T.J. Maxx, Costco, Target, Nordstrom Rack and Sephora. Lynne Thier of Colliers represented Miniso in the transaction.

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