Wednesday, June 10, 2026
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320-McCloy-Ave-Stockton-CA
CaliforniaDevelopmentIndustrialWestern

Trammell Crow Co., Realty Income to Develop 655,200 SF Industrial Facility for Home Depot in Stockton, California

by Amy Works

STOCKTON, CALIF. — Trammell Crow Co., in a joint venture with Realty Income Corp., has broken ground on an industrial build-to-suit facility in Stockton for The Home Depot. Located at 320 McCloy Ave., the 655,200-square-foot property is slated for delivery in 2026. MacGregor Associates is the architect of record and Arch-Con Corp. is serving as the general contractor. Tyson Vallenari of Cushman & Wakefield and Tom Davis of CBRE represented the Port of Stockton and Trammell Crow Co., respectively, in the ground lease.

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501-Gateway-Phoenix-AZ
AcquisitionsArizonaOfficeWestern

Cushman & Wakefield Negotiates Sale of 102,305 SF Office Asset in Phoenix

by Amy Works

PHOENIX — Cushman & Wakefield has arranged the sale of 501 Gateway, a four-story office building located at 501 N. 44th St. in Phoenix. An undisclosed full service real estate solutions firm sold the asset to 501 Gateway Center LLC for $18 million. The property features 102,305 square feet of multi-tenant office space, a four-story parking garage, flexible floor plates, an onsite café and immediate freeway, airport and light rail access. At the time of sale, the building was 82 percent leased. The building, which was originally constructed in 1997, has been upgraded to a modern office asset. Eric Wichterman, Chris Toci and Mike Coover of Cushman & Wakefield in Phoenix represented the seller in the transaction.

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AcquisitionsBuild-to-RentIdahoSingle-Family RentalWestern

MJW Investments Acquires 96-Unit Verraso Village Build-to-Rent Community in Meridian, Idaho

by Amy Works

MERIDIAN, IDAHO — MJW Investments has purchased Verraso Village, a Class A build-to-rent townhome community in Meridian, from an undisclosed seller in an off-market transaction. Built in two phases in 2016 and 2018, Verraso Village offers 96 two-level homes that average 1,840 square feet with attached two-car garages. Ninety-five percent of the units are three-bedroom and 3.5-baths and each townhome offers an individualized exterior façade. The acquisition marks MJW’s first entry into the Boise MSA. The company acquired the asset with a moderately low-leveraged agency loan assumption with 3.2 percent fixed-rate financing and more than five years remaining on the loan term.

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403-N-Levee-Rd-Pullayup-WA
AcquisitionsIndustrialWashingtonWestern

PCBP Properties Buys 80,150 SF Industrial Property in Puyallup, Washington for $12.5M

by Amy Works

PUYALLUP, WASH. — PCBP Properties Inc. has acquired an industrial property located at 403 N. Levee Road in Pullayup for $12.5 million. Brett Hartzell, Paige Morgan and Andrew Stark of CBRE National Partners West represented the undisclosed seller in the deal. The 80,150-square-foot last-mile manufacturing and logistics facility is located 15 minutes from the Port of Tacoma, Washington, and 35 minutes from downtown Seattle. The property has undergone recent renovations, including roof repairs, exterior painting, asphalt, landscaping and updates to the office space with new carpet and paint. The property is fully insulated and features 21 trailer stalls, eight dock-high and three grade-level doors.

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DevelopmentIndustrialMidwestOhio

Opus Group Breaks Ground on 250,829 SF Spec Industrial Building Near Columbus, Ohio

by Kristin Harlow

MARYSVILLE, OHIO — The Opus Group has broken ground on a 250,829-square-foot speculative industrial building in the Columbus suburb of Marysville. The project marks the only spec industrial development getting underway in central Ohio moving into the first quarter of 2025, according to Opus. Named 33 Commerce Center, the property is designed for manufacturing and light assembly uses. The building will offer four storefronts, each with clerestory glass entries. Additional building features include a 3,870-square-foot office space, clear height of 32 feet, interior and exterior LED lighting, 155 vehicle parking spaces, 24 equipped docks, four drive-in dock doors and room for future trailer parking. The development is part of 33 Innovation Park, which features a new utility infrastructure with high-capacity fiber optics. Completion is slated for August 2025. Opus is the developer, design-builder and architect of record for the project. AST Engineering is the structural engineer. Mike Spencer and Todd Spencer of Lee & Associates are marketing the project for lease.

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AcquisitionsIndianaIndustrialMidwest

Colliers Negotiates Sale of Two-Building Industrial Portfolio Totaling 245,000 SF in Indianapolis

by Kristin Harlow

INDIANAPOLIS — Colliers has negotiated the sale of a two-building industrial portfolio totaling 245,000 square feet in the Southwest submarket of Indianapolis for an undisclosed price. The fully leased properties, located at 4316 W. Minnesota St. and 4750 Kentucky Ave., are home to wholesale industrial packaging company BASCO as well as logistics and warehousing providers Golden Tiger Transportation and Kid Glove Service. Alex Cantu and Alex Davenport of Colliers represented the seller, Clarion Partners. New York-based Diamond Properties was the buyer.

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IllinoisLeasing ActivityMidwestOffice

KeHE Distributors Renews, Expands Lease at Naperville Corporate Center in Suburban Chicago

by Kristin Harlow

NAPERVILLE, ILL. — KeHE Distributors LLC has renewed and expanded its lease at Naperville Corporate Center in the Chicago suburb of Naperville. The wholesale food distributor’s lease now totals 91,102 square feet after an expansion of 17,000 square feet. Joe Stevens and Steve Degodny of Transwestern Real Estate Services (TRS) represented building ownership, Real Capital Solutions. KeHE will occupy the entirety of the building at 1245 Diehl Road.

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CivicDevelopmentMidwestMinnesota

Kraus-Anderson Begins Construction of $33M Public Safety Facility in Virginia, Minnesota

by Kristin Harlow

VIRGINIA, MINN. — Kraus-Anderson has begun construction of a new $33 million public safety facility located at 1004 2nd St. S. in Virginia, a city in northeast Minnesota. Designed by Wold Architects and Engineers, the 50,000-square-foot project features a new fire station, police station and EMS facility, along with 13 dormitories, training spaces and parking lots. The new building also features a training tower, fitness center, day room, kitchen and dining room. Completion is slated for July 2025.

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AcquisitionsIllinoisMidwestMultifamily

Interra Realty Brokers $3.4M Sale of Apartment Building in Chicago’s Lincoln Park

by Kristin Harlow

CHICAGO — Interra Realty has brokered the $3.4 million sale of an eight-unit apartment building located at 2501 N. Southport Ave. in Chicago’s Lincoln Park neighborhood. Originally constructed in 1907 as a funeral home, the property was redeveloped by the seller. There are four two-bedroom units and four three-bedroom layouts as well as nine onsite parking spaces. The asset was fully occupied at the time of sale. Brad Feldman of Interra represented the private local buyer. Joe Smazal, Colin O’Malley and Mark Dykstra of Interra represented the confidential seller. O’Malley had previously assisted the seller in its acquisition of the property in 2018.

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Stonehill-at-West-Orange
DevelopmentMultifamilyNew JerseyNortheastOffice

BNE Real Estate Completes Office-to-Multifamily Conversion Project in West Orange, New Jersey

by Taylor Williams

WEST ORANGE, N.J. — BNE Real Estate has completed a project in West Orange, about 20 miles west of New York City, that converted a 400,000-square-foot office campus into a 423-unit apartment community. Known as Stonehill at West Orange and designed by Minno & Wasko Architects & Planners, the development features one- and two-bedroom units and 44,000 square feet of amenity space. The project also preserved 130,000 square feet of recently renovated office space that is now home to the West Orange Public Library. Rents start at approximately $2,300 per month for a one-bedroom apartment.

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