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The-Cliff-Henderson-NV
DevelopmentNevadaRestaurantRetailWestern

Six Retail, Restaurant Tenants to Open at The Cliff in Metro Las Vegas

by Amy Works

HENDERSON, NEV. — A partnership between Partners Capital Inc. and CAST has announced the first wave of tenants for The Cliff, a 100,000-square-foot retail development located in Henderson, roughly 15 miles outside Las Vegas. Retail and restaurant concepts including The Taco Stand, Killer Whale Creamery, Lyte House, The Barista Botanist and Next Health, along with new anchor tenant Arhaus, are anticipated to open by late 2026. Construction is set to begin in early 2026. Serving as the gateway to the Green Valley Ranch master-planned community, The Cliff is anticipated to open in fall 2026 and will be Henderson’s first retail development in more than 20 years, according to the development team.

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AcquisitionsArizonaOfficeWestern

Cushman & Wakefield Arranges $10M Sale of Hayden Corporate Center in Scottsdale, Arizona

by Amy Works

SCOTTSDALE, ARIZ. — Cushman & Wakefield has arranged the sale of Hayden Corporate Center, a two-story office building located at 8283 N. Hayden Road in Scottsdale. Hayden Corporate Center LLC sold the asset to Revelation RE, with Bret Anderson as principal, for $10 million. The multi-tenant property consists of two wings adjoined by a two-story central lobby. Hayden Corporate Center features floor plates of 27,500 square feet, narrow bay depths and ample window lines. The new ownership plans to renovate the exterior and interior, as well as upgrading several major building systems.

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1010-N-County-Club-Dr-Flagstaff-AZ.jpg
AcquisitionsArizonaNet LeaseRetailWestern

CBRE Brokers $8.4M Sale of 7-Eleven Ground Lease in Flagstaff, Arizona

by Amy Works

FLAGSTAFF, ARIZ. — CBRE has arranged the ground-lease sale of a single-tenant retail property located at 1010 N. Country Club Drive in Flagstaff. Viking Properties VII LLC, a California-based farming family, acquired the asset for $8.4 million. Ben Farthing and Owen Littrell of CBRE represented the sellers, two Tucson-based private capital investors, in the all-cash transaction. 7-Eleven occupies the property on an absolute triple-net lease with 12 years remaining. The site includes 12 fueling stations, a car wash and a convenience store.

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AcquisitionsMidwestMinnesotaOffice

Pioneer Acquisitions Buys 913,501 SF Office Portfolio in Downtown Minneapolis

by Kristin Harlow

MINNEAPOLIS — Pioneer Acquisitions, a Rye, N.Y.-based real estate investment firm, has purchased two office towers in downtown Minneapolis along with an 870-stall parking ramp. The buildings, 100 Washington and 111 Washington, total 913,501 square feet and are situated in the city’s Gateway District, bridging the central business district and the North Loop. The transaction marks Pioneer’s first investment in the Twin Cities market. Pioneer plans to refresh and modernize existing amenity areas, including the tenant lounge and ground-level terrace at 100 Washington. The firm has engaged Cushman & Wakefield to handle leasing and property management services. The buildings were 80 percent occupied at the time of sale. Ryan Watts of CBRE represented the undisclosed seller.

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AcquisitionsMidwestMissouriMultifamily

Gorrell Hughes Capital Purchases Two Multifamily Communities in Missouri  

by Kristin Harlow

SPRINGFIELD AND OZARK, MO. — Gorrell Hughes Capital has purchased two multifamily communities in the Springfield metro area: Sunset Woodland Apartments in Springfield and Excelsior Gardens Apartments in Ozark. Together, the properties total 281 units. Gorrell Hughes Capital is a private real estate investment firm focused on acquiring, managing and repositioning Class B multifamily assets.

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AcquisitionsMidwestRetailWisconsin

Mid-America Negotiates Sale of 96,323 SF Retail Center in Antigo, Wisconsin

by Kristin Harlow

ANTIGO, WIS. — Mid-America Real Estate Corp. has negotiated the sale of North Town Centre in Antigo, a city in northern Wisconsin. The sales price was $5.2 million. Built in 1988, the 96,323-square-foot retail center is anchored by TJ Maxx, Dunham’s Sports, Dollar Tree and Shoe Sensation. More than 67 percent of the occupied gross leasable area has operated at the center for more than 14 years. Rick Drogosz, Emily Gadomski, Eric Geskermann and Dan Rosenfeld of Mid-America represented the seller, Infinite Equity Capital LLC. The asset was fully leased at the time of sale.

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DevelopmentMidwestMinnesotaMultifamilySeniors Housing

Pelican Valley Senior Living Begins $8.4M Modernization Project at Minnesota Property

by Kristin Harlow

PELICAN RAPIDS, MINN. — Pelican Valley Senior Living has begun an $8.4 million modernization project that will update the care center and resident rooms, enhance amenities and reimagine community spaces at its senior living property in Pelican Rapids within western Minnesota. Minnesota’s Nursing Home Moratorium Exceptions process approved the project to provide state funding for safety and care-quality upgrades. The Minnesota Department of Health greenlighted the project for an overdue overhaul of the facility’s aging spaces. Wold Architects & Engineers is leading the design. Phase I of the project will renovate part of the former hospital wing to serve as temporary resident housing during construction. Phase II will rebuild 14 resident rooms and expand community areas, including dining, therapy, chapel and social spaces. The project is a collaborative effort between multiple construction and engineering partners. Completion is slated for early to mid-2027.

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AcquisitionsMidwestOhioRetail

Marcus & Millichap Brokers Sale of Firestone-Occupied Retail Property in Heath, Ohio

by Kristin Harlow

HEATH, OHIO — The Taylor McMinn Retail Group of Marcus & Millichap has brokered the sale of a newly constructed retail property occupied by Firestone in Heath, about 30 miles east of Columbus. Built in 2025, the property features a 15-year, triple-net corporate-guaranteed lease that includes 5 percent rent increases every five years in the initial term. The asset sold at 98 percent of the list price to an all-cash buyer completing a 1031 exchange. The seller was a preferred developer for Firestone. Don McMinn and Andrew Koriwchak of the Taylor McMinn Retail Group of Marcus & Millichap brokered the transaction. “This Firestone closing highlights the growing presence of higher-price-point 1031 exchange and private buyers in the net-lease market, driven by recent interest rate cuts and increased economic stability. We anticipate the buyer pool to continue to expand into 2026 as conditions improve and more capital re-enters the market,” says McMinn.

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operations-multifamily-panel
Conference CoverageFeaturesGeorgiaMultifamilySoutheastSoutheast Feature Archive

InterFace Panel: Multifamily Operators Are Charting a Path from Oversupply to Opportunity in 2026

by Abby Cox

ATLANTA — The multifamily market in the Southeast still prevails as one of the nation’s most dynamic real estate ventures, but one aspect in particular is casting a dark shadow — the cultivation of oversupply in the region. When the demand for housing during and after the COVID pandemic increased, developers energetically responded with an aggressive building boom. However, when new supply began to outpace demand, vacancy crept up and concern for the market became more prominent. “We put shovels in the ground and started developing — and now we’re paying for that sin,” said Greg Mark, executive managing director at Cushman & Wakefield. “Across the board, we’re just not seeing the same kind of returns.” Mark’s comments came at the operations panel during the 2025 InterFace Multifamily Southeast conference, which was held at the InterContinental Buckhead in Atlanta. Co-hosted by France Media’s InterFace Conference Group and Multifamily & Affordable Housing Business magazine, the two-day event attracted a little more than 300 attendees. Ed Wolff, CEO of Dallas-based Aerwave, moderated the panel. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. Karen Key, Southeast …

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AcquisitionsCompany NewsHawaiiIndustrialOfficeRetailTop StoriesWestern

Joint Venture to Acquire Alexander & Baldwin in $2.3B Deal, Take Hawaiian Company Private

by John Nelson

HONOLULU — A joint venture formed by locally based MW Group Ltd. and funds affiliated with Blackstone Real Estate (NYSE: BX) and DivcoWest has entered into a definite merger agreement with Alexander & Baldwin Inc. (NYSE: ALEX), a Honolulu-based owner-operator of shopping centers and other commercial real estate properties. The deal is valued at $2.3 billion, inclusive of outstanding debt, and would take Alexander & Baldwin private. The joint venture plans to acquire all outstanding shares of Alexander & Baldwin for $21.20 per share in an all-cash transaction. The company’s stock price closed last week at $15.22 per share, giving the acquisition price a nearly 40 percent premium. Alexander & Baldwin is the largest owner of grocery-anchored shopping centers in Hawaii. The firm’s overall portfolio spans approximately 4 million square feet and includes 21 retail centers, 14 industrial assets and four office properties, as well as fee interests in 146 acres of ground lease assets. Upon closing of the deal, which is scheduled for the first quarter of 2026, Alexander & Baldwin will become a privately held company but will retain its Honolulu headquarters and maintain its name and brand. The new investment group has announced it will invest $100 million …

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