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38491-Fremont-Blvd-Fremont-CA
AcquisitionsCaliforniaIndustrialSelf-StorageWestern

Levin Johnston Brokers Sale of 568-Unit Extra Space Storage Facility in Fremont, California

by Amy Works

FREMONT, CALIF. — The Levin Johnston team of Marcus & Millichap has arranged the sale of an Extra Space Storage property totaling 49,922 square feet in Fremont. A private real estate investor sold the self-storage facility to an institutional self-storage developer, operator and manager for $18.8 million. Located at 38491 Fremont Blvd., Extra Space Storage offers 568 units, most with drive-up access, controlled access gated entry and 24-hour closed circuit surveillance. The Levin Johnston team represented the seller and procured the buyer in the deal.

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12898-Towne-Center-Cerritos-CA
AcquisitionsCaliforniaOfficeWestern

CBRE, Colliers Arrange $10.1M Sale of 80,821 SF Office Property in Cerritos, California

by Amy Works

CERRITOS, CALIF. — CBRE and Colliers have arranged the $10.1 million sale of an office building located at 12898 Towne Center in Cerritos. CBRE’s Mark Shaffer, Sean Sullivan, Grant Goldman, Mike Longo and Melissa Moock, along with Todd Tydlaska of Colliers, advised the receiver, Ryan C. Baker of Verax Business Group, in the transaction. CBRE’s Tom Sheets represented the undisclosed buyer in the deal. Situated on 4.6 acres, the two-story building offers 80,821 square feet of office space. Built in 1993 as part of the three-phase Cerritos Towne Center, the building features large, efficient floor plates, a modern design and convenient access to Interstate 605 and State Route 91. SCAN Health Plan will occupy the property.

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AcquisitionsArizonaMultifamilyWestern

Geronimo Casitas Acquires 19-Unit Apartment Complex in Tucson

by Amy Works

TUCSON, ARIZ. — Geronimo Casitas LLC has acquired Geronimo Casitas, a multifamily property in Tucson, from The Ramy Muaddi and Cecilia Muaddi Revocable Trust for $1.4 million. Located at 2514 N. Geronimo Ave., the 8,422-square-foot Geronimo Casitas features 19 apartments. Allan Mendelsberg and Joey Martinez of Cushman & Wakefield | PICOR represented both parties in the transaction.

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Warehouse image. Industrial photo by CHUTTERSNAP on Unsplash.
AcquisitionsContent PartnerDevelopmentFeaturesIndustrialLeasing ActivityLee & AssociatesMidwestMixed-UseMultifamilyNortheastOfficeRetailSoutheastTexasWestern

Lee & Associates’ Report: Q3 Results Shaped by Market Uncertainty, Questions of Legality, Tariffs, AI Considerations

by Sarah Daniels

Lee & Associates’ 2025 Q3 North America Market Report examines a commercial real estate landscape experiencing some pauses as the effects of exogenous forces work their way through the market. Economic and legal questions, the second- and third-order effects of tariffs, persistently high costs, unemployment concerns and the new realities of artificial intelligence (AI) have combined to produce mixed results across all property types. Demand for office and retail has increased (and their respective pipelines remain constrained). Of the four property types covered in the report — industrial, office, retail and multifamily — only retail saw transaction momentum in the previous quarter. Meanwhile, the overbuilt industrial and multifamily sectors have witnessed weakening or negative demand in the third quarter. Lee & Associates’ full, detailed market report is available to read here. The overviews for the sectors below reveal a market that seems to be holding its breath, awaiting new information. Industrial Overview: Markets Await Tariff Clarity Net absorption of industrial space increased in the third quarter across North America, but demand was weak and failed again to keep pace with the supply of new buildings, while tenant growth remained hobbled by tariff concerns and interest rates. In the United States, following 8.1 million square feet …

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Hale-Na-Koa-O-Hanakahi-Hilo-HI
Affordable HousingDevelopmentHawaiiMultifamilySeniors HousingWestern

EAH Housing Completes $58M Affordable Seniors Housing Development in Hawaii

by Amy Works

HILO, HAWAII — EAH Housing has opened Hale Nā Koa ‘O Hanakahi, an affordable seniors housing development in Hilo. Residences are reserved for seniors age 62 and older earning at or below 80 percent of the area median income, with preference given to veterans and surviving spouses. This marks the first affordable senior living development for veterans in Hawaii. EAH Housing developed the $58 million project in partnership with Hawaii Island Veterans Memorial Inc.   The property totals 91 one-bedroom apartments across three two-story buildings, with an additional unit for an on-site property manager. Each unit comprises roughly 546 square feet. Amenities at the property include a community center with a lounge, coffee bar and fitness room. The center also features a multi-purpose room and a non-commercial kitchen for resident use.  “This community is the first phase of a larger master-planned campus,” says Denise Nakanishi, chairperson of the board for Hawaii Island Veterans Memorial Inc. “Future plans include a veterans’ center and an outpatient clinic to expand healthcare access and support services for veterans and their families.” Design Partners Inc. was the architect for development, and Maryl Construction Group served as the general contractor. EAH Housing Real Estate Management will oversee operations and maintenance …

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Gateway-Plaza-Gateway-Courtyard-Fairfield-CA
CaliforniaLoansRetailWestern

JLL Arranges $38M Refinancing for Two Retail Centers in Fairfield, California

by Amy Works

FAIRFIELD, CALIF. — JLL Capital Markets has arranged $38 million in refinancing for Gateway Plaza and a portion of Gateway Courtyard, two adjacent retail properties in Fairfield. Alex Olson and Danny Ryan of JLL represented the undisclosed borrower in the transaction. Anchored by Trader Joe’s, Gateway Plaza is fully leased to a mix of tenants including Ross Dress for Less, Michaels, Big 5 Sporting Goods and Petco. Gateway Courtyard is also fully occupied by tenants such as Panera Bread, Wingstop, Panda Express, T-Mobile, The Picklr and Nick the Greek.

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Vistancia-Commerce-Park-FIVE-NORTH-Peoria-AZ
ArizonaDevelopmentIndustrialWestern

Barclay Group to Develop 239,700 SF Spec Industrial Park in Peoria, Arizona

by Amy Works

PEORIA, ARIZ. — Barclay Group is developing Vistancia Commerce Park at FIVE NORTH, a speculative industrial park within the 7,100-acre Vistancia master-planned community in Peoria’s Northern Peoria Corridor. Vistancia Commerce Park at FIVE NORTH will feature 239,700 square feet of industrial space spread across four flexible building configurations. The park will include the 43,600-square-foot Building A, 54,500-square-foot Building B, 48,000-square-foot Building C and 93,600-square-foot Building D, with space divisible down to 9,400 square feet. Buildings will offer 28-foot to 32-foot clear heights, full HVAC, LED lighting and 3,000 amps of power (expandable) per building, as well as both dock- and grade-level loading capabilities. Construction is slated to begin in second-quarter 2026, with delivery expected in second-quarter 2027. Butler Design Group is serving as architect and GM Civil is serving as civil engineer. Riley Gilbert, Marc Hertzberg, Kelly Royle and Nicole Marshall of JLL are handling leasing for the project.

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AcquisitionsArizonaRetailWestern

Cushman & Wakefield | PICOR Brokers Sale of 88,848 SF Retail Space in Tucson

by Amy Works

TUCSON, ARIZ. —  Cushman & Wakefield | PICOR has arranged the sale of a 88,848-square-foot retail space at 9550 E. Golf Links Road in Tucson. Bob Speedway LLC acquired the property from Leyenda En Tiempo for $5.7 million. Greg Furrier and Natalie Furrier of Cushman & Wakefield | PICOR handled the transaction.

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AcquisitionsCaliforniaRetailWestern

Fitness SF Acquires 38,900 SF Retail Property in San Francisco

by Amy Works

SAN FRANCISCO — Fitness SF has purchased a 38,900-square-foot retail property at 1600-1616 Jackson St. in San Francisco. Terms for the transaction were not released. The property consists of two floors and an underground garage with 72 parking spaces. Matthew Holmes of Retail West represented both parties in the transaction.

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ArizonaMarket ReportsOfficeWesternWestern Market Reports

Phoenix Office Market Finds Its Footing Amid Selective Demand

by John Nelson

— By Jason Price of Commercial Properties Inc./CORFAC International — The Phoenix office market continues to show balance as leasing patterns shift and tenants prioritize smaller footprints. The metro’s office inventory totals 195.5 million square feet across roughly 9,000 buildings. Construction has edged upward year over year, with a little more than 900,000 square feet currently underway compared with 844,000 square feet a year ago. Another 1.5 million square feet is expected to deliver between 2025 and 2026, a restrained pace that should help prevent oversupply. This discipline has become critical as companies continue to right-size and lenders remain cautious. The overall market faces slower demand for large contiguous blocks, limited financing availability and an elevated level of sublease inventory that will take time to absorb. Most of the sublease space consists of second-generation Class A and B product in downtown and the Camelback Corridor, where tenants are evaluating long-term space requirements before recommitting. Even so, Phoenix’s fundamentals remain relatively healthy compared with many other metros. The city’s diversified economy, steady population inflow and expanding employment base continue to support leasing activity, particularly for move-in-ready suites of less than 10,000 square feet. Small-business confidence and the return-to-office movement among local …

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