Property Type

Brennan Investment Group Acquires 202,000 SF Manufacturing Facility Near Knoxville, Tennessee

by Abby Cox June 5, 2026

VONORE, TENN. — Brennan Investment Group has acquired a 202,000-square-foot manufacturing facility located in the East Tennessee city of Vonore, about 35 miles south of Knoxville. The seller and sales price were not disclosed. The facility is fully leased to Commercial Vehicle Group (CVG), a global manufacturer of commercial vehicle systems, under a new 20-year absolute net lease. The facility is one of two seating manufacturing plants operated by CVG in the United States. Situated on roughly 42 acres, the property offers access to I-75, I-40, McGhee Tyson Airport and the Port of Tellico.

June 5, 2026

California Development Hospitality Western

Peachtree Group Opens 220-Key Marriott-Branded Hotel in Palmdale, California

by Amy Works June 5, 2026

PALMDALE, CALIF. — Atlanta-based developer Peachtree Group has opened the 220-key TownePlace Suites by Marriott Palmdale hotel. Located at 39330 Trade Center Drive, the hotel’s suites feature fully equipped kitchens, complimentary Wi-Fi and workspaces. Onsite amenities include complimentary hot breakfast, 24-hour fitness center, outdoor pool, pet-friendly suites, free parking and Marriott Bonvoy digital check-in. Peachtree Group’s hospitality management division will operate the hotel, which is one of the firm’s early EB-5 developments and previously received I-956F approval from U.S. Citizenship & Immigration Services. The EB-5 visa program allows foreign investors to obtain a green card in exchange for making a significant investment in a new commercial enterprise that creates jobs in the United States.

June 5, 2026

Acquisitions California Healthcare Western

Levin Johnston Negotiates $23.7M Sale of Medical Office Property in Rohnert Park, California

by Amy Works June 5, 2026

ROHNERT PARK, CALIF. — Levin Johnston of Marcus & Millichap has directed the sale of a 67,584-square-foot medical office property located at 5900 State Farm Drive in Rohnert Park. A private family ownership group acquired the asset from an undisclosed seller for $23.7 million. Kaiser Permanente and Petaluma Health Center anchor the two-story property. Robert Johnston, Adam Levin and Justin Fink of Levin Johnston of Marcus & Millichap represented the seller and procured the buyer in the deal.

June 5, 2026

Acquisitions Idaho Industrial Western

CBRE Arranges Sale of 59.7-Acre Industrial Development Site in Pocatello, Idaho

by Amy Works June 5, 2026

POCATELLO, IDAHO — CBRE has arranged the sale of a 59.7-acre industrial development site located at 1800 River Park Way in Pocatello on behalf of developer Portneuf Capital. Lex Development acquired the site for an undisclosed price. The property consists of two industrial-zoned parcels that currently contain 45,904 square feet of office space and 113,048 square feet of warehouse space. Formerly a Hoku Materials manufacturing site, the property has undergone entitlement and planning work under current ownership and is positioned for future business park or owner-user development. The site is participating in a brownfield development program, with a Phase I environmental assessment completed and no further action required. Kurt Gregg, Tim Reid and Montana Carranza of CBRE represented the seller in the transaction.

June 5, 2026

Acquisitions Illinois Midwest Office

Kohan Retail Investment Group Acquires 1.5 MSF Office Tower in Chicago

by Kristin Harlow June 5, 2026

CHICAGO — Kohan Retail Investment Group has acquired 131 South Dearborn, a 1.5 million-square-foot office tower formerly known as Citadel Center in Chicago’s central business district. The purchase price of $137 million represents a 76 percent discount from the property’s 2006 sales price, according to Crain’s Chicago Business. The acquisition was completed alongside investment partners Alan Assil and Kevin Assil, whose partnership has supported the continued expansion of Kohan’s office portfolio. Kohan, which is based in Great Neck, N.Y., and led by Mike Kohan, owns and operates retail, office and mixed-use properties. A partnership between Angelo, Gordon & Co., Hines and Dearborn Capital Group acquired the property in 2016. It was completed in 2003.

June 5, 2026

Acquisitions Arizona Restaurant Retail Western

Marcus & Millichap Brokers $4.4M Acquisition of Single-Tenant Retail Property in Phoenix

by Amy Works June 5, 2026

PHOENIX — Marcus & Millichap has arranged the $4.4 million purchase of a single-tenant retail property located at 2975 W. Dove Valley Road in Phoenix. An Arizona-based limited liability company acquired the asset from an undisclosed seller. Chipotle occupies the 2,458-square-foot restaurant building, which was built in 2025. Mark Ruble, Chris Lind and Zack House of Marcus & Millichap represented the buyer in the off-market transaction.

June 5, 2026

Affordable Housing Development Michigan Midwest Multifamily

Detroit’s Corktown Neighborhood to Receive 188 New Mixed-Income Units Representing $84M Investment

by Kristin Harlow June 5, 2026

DETROIT — Detroit’s historic Corktown neighborhood is set to receive three new mixed-income housing developments: Bagley Townhomes & Flats, West of 10th Apartments and Trumbull Apartments. Together, the three projects will bring 188 new residential units, including more than 150 affordable homes supported through the city by a portion of Detroit’s $35 million federal Choice Neighborhoods Implementation (CNI) grant. Fifth Third Bank (formerly Comerica Bank) and Citizens Bank are also providing funding for the developments, which are part of the ongoing redevelopment of the former Clement Kern Gardens site. American Community Developers Inc. is leading development of all three projects, which collectively represent nearly $84 million in total investment. Located just west of downtown Detroit, Corktown has long served as a gateway community for generations of immigrants and working-class families. Originally settled by Irish immigrants in the mid-1800s, the neighborhood became known for its close-knit residential blocks and historic row houses. In recent years, Corktown has experienced significant redevelopment activity, driven by public and private investment surrounding Michigan Central, Roosevelt Park and the broader southwest Detroit corridor. The City of Detroit was awarded a $35 million CNI grant in May 2021 by the U.S. Department of Housing and Urban Development. …

June 5, 2026

Acquisitions Illinois Industrial Midwest

St. Louis Regional Freightway Adds 160 Acres of Rail-Served Sites in Sauget, Illinois

by Kristin Harlow June 5, 2026

SAUGET, ILL. — The St. Louis Regional Freightway has added 160 acres to its pipeline of rail-accessible real estate sites. Located in Sauget, just east of St. Louis, the addition consists of four contiguous parcels and brings the aggregate inventory of rail-served sites in the region to more than 4,600 acres. The properties are located within or adjacent to Sauget Business Park. Upper Cahokia Road is the largest of the four parcels with 103 acres of land just northeast of Sauget Business Park. Parcels 7 and 8 within Sauget Business Park are located just off Sauget Business Boulevard, next to existing facilities for Amazon, Stellar Manufacturing and Sensient, and total 44.7 acres. The final parcel, 1635-1643 Sauget Business Park, totals 12.6 acres along Sauget Business Boulevard. All four sites can be rail-served via the adjacent CPKC railroad and are located within an enterprise zone and tax-increment financing district.

June 5, 2026

Acquisitions Illinois Midwest Multifamily

Marcus & Millichap Brokers Sale of 128-Unit Rock Run Residences in Joliet, Illinois

by Kristin Harlow June 5, 2026

JOLIET, ILL. — Marcus & Millichap has brokered the sale of Rock Run Residences, a 128-unit multifamily property in Joliet. Built in 2002 and fully renovated between 2021 and 2024, the property consists of seven buildings totaling 81,960 rentable square feet. Amenities include a clubhouse, fitness center, community kitchen, pool, sundeck, picnic area and sand volleyball court. The community features convenient access to I-80 and I-55 as well as Rock Run Crossings, a retail and entertainment destination. Ryan Engle and Andrean Angelov of Marcus & Millichap represented the buyer and seller, both of which were private investors.

June 5, 2026

California Market Reports Office Western Western Market Reports

A Crisis of Office Identity: Downtown LA’s Coming-of-Age Story

by John Nelson June 5, 2026

— By George Crawford of Kidder Mathews — In the city where heart-wrenching Hollywood movies originate, we bear witness to the harrowing coming-of-age story for one of the largest office submarkets in one of the largest metropolitan economies on earth, Downtown Los Angeles (DTLA). “I’m going to make him an offer he can’t refuse.” The Godfather, spoken by Don Vito Corleone It was almost too good to be true. In 2016, DTLA was the star of a commercial real estate love story. Landlords and tenants were captivated by a compelling script about creative tenants fleeing the expensive Westside into the welcoming arms of DTLA and sexy adaptive reuse offices. A steady flow of capital inspired 50 percent of DTLA’s submarket to trade in a 24-month period. Downtown was poised to rival the traditional metropolis, while retaining its gritty charm. Like any Hollywood romance, the chemistry was undeniable and the ending seemed predictable: sustained rent growth and long-term tenant demand. Then came the plot twist. “Where are we going so very quickly?” The New Adventures of Winnie the Pooh, spoken by Piglet The pandemic accelerated what technology had been threatening for years. Workplace flexibility and changing corporate …

June 5, 2026

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