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Repositioning Opens the Door to New Possibilities in Inland Empire’s Industrial Market

John Nelson — Tue, 27 Jan 2026 12:40:00 +0000

— By Richard Schwartz of SRS Real Estate Partners — The Inland Empire industrial market has undergone significant recalibration over the past 24 months, moving from the “too hot” environment of 2022 and 2023 marked by record construction and rent escalation to a period of normalization. Construction-driven vacancy has pushed the market into a digestion phase, marked by softening rents, adjusting sale prices and a reset in landlord-tenant expectations. These dynamics will unlock new opportunities as we enter 2026. Limited New Development Creates Breathing Room CoStar data compiled by SRS shows that new construction peaked in 2023 with about 29.5 million square feet delivered. This was followed by 17.8 million square feet in 2024 and an expected 16 million square feet in 2025. Deliveries are projected to fall to roughly 10 million square feet in 2026, making it the lightest post-pandemic year of new supply. This delivery includes several notable projects, such as Amazon’s 2.5-million-square-foot “middle-mile” facility in Hesperia, a 650,000-square- foot storage facility in Desert Hot Springs and a 1.2-million-square-foot facility in Apple Valley that’s leased to Lecangs. This means that more than half of the Inland Empire’s 2026 construction pipeline is already pre-leased, reducing speculative exposure while accelerating the rise…

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Kennedy Wilson Acquires Fletcher Southlands Apartments in Aurora, Colorado for $94.8M

Amy Works — Mon, 26 Jan 2026 14:30:45 +0000

AURORA, COLO. — Kennedy Wilson (NYSE: KW) has acquired The Fletcher Southlands in Aurora’s Southlands submarket for approximately $94.8 million from CBRE Global Investors. JLL Capital Markets has arranged a $61.8 million Freddie Mac acquisition loan for Kennedy Wilson. Brandon Smith, Annie Rice, Mark Wintner and Tony Nargi led the JLL team. The Fletcher Southlands, located at 22959 E. Smoky Hill Road, was built in 2001 on a 23-acre site and features one- to four-bedroom units and amenities that include a pool and hot tub, fitness and business centers, a gaming area, covered parking, a dog park, package lockers, grills, valet trash services, a complimentary coffee bar and free Wi-Fi in common areas.

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Azul Hospitality Group Opens 173-Room Hilton Arcadia Los Angeles Hotel

Amy Works — Mon, 26 Jan 2026 14:29:11 +0000

ARCADIA, CALIF. — San Diego-based Azul Hospitality Group has opened Hilton Arcadia Los Angeles, a full-service Hilton-branded hotel in Arcadia. The 173-room property includes a mix of guest rooms and suites, approximately 17,800 square feet of flexible indoor and outdoor meeting and event space, a heated outdoor pool, fitness center and business hub. Additionally, the hotel features three food-and-beverage outlets, including Hipico rooftop restaurant and terrace; 19Seventy at the Ovalo Restaurant & Bar, an all-day dining concept; and Sottaku by Kisen & Kaiseki Motoishi, a speciality sushi and Japanese dining outlet. Situated near the historic Santa Ana Racetrack, the hotel also offers racetrack-facing views from select rooms. Azul Hospitality Group operates properties in 29 markets across 11 states, with a portfolio that includes 21 global hotel brands. Azul also manages and concepted more than 40 independently branded restaurants and skyline bars, as well as cafés, counter-service concepts and speakeasies.

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EQT Real Estate Buys 663,367 SF Industrial Facility in Glendale, Arizona

Amy Works — Mon, 26 Jan 2026 14:27:48 +0000

GLENDALE, ARIZ. — EQT Real Estate has acquired Commerce @ 303, a Class A industrial property and adjacent entitled, shovel-ready 32.6-acre development site at 5215 N. Alsup Road in Glendale, from New York Life Real Estate Investors and SteelWave for an undisclosed price. Developed by SteelWave, Commerce @ 303 features a 663,367-square-foot, cross-dock industrial facility. Built in 2022, the facility is currently fully leased to two third-party logistics providers. The adjacent parcel is a shovel-ready site, allowing for the development of a 497,2354-square-foot industrial facility, enabling the construction of a nearly 1.2 million-square-foot industrial campus. EQT plans to begin construction on a speculative building on the development site with an estimated delivery date of fourth-quarter 2026. Will Strong, Molly Miller, Jack Stamets, Michael Matchett and Madeline Warren of Cushman & Wakefield handled the transaction.

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Berkadia Arranges $33.8M Refinancing for Seniors Housing Community in Bozeman, Montana

Amy Works — Mon, 26 Jan 2026 14:26:24 +0000

BOZEMAN, MONT. — Berkadia has arranged $33.8 million in refinancing for Bozeman Lodge, an independent and assisted living community located in Bozeman. Oregon-based Radiant Senior Living is the borrower. Ed Williams, Steve Muth, Austin Sacco, Garrett Sacco and Alec Rosenfeld of Berkadia secured the financing from a debt fund on behalf of Radiant. The 2.5-year loan features interest-only payments for the full term. The transaction marks the debt fund lender’s first loan within the seniors housing sector.

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DSI Completes 200,000 SF Warehouse Expansion for Frain Industries in Metro Chicago

Kristin Harlow — Mon, 26 Jan 2026 14:03:00 +0000

CAROL STREAM, ILL. — Development Solutions Inc. (DSI) has completed a 200,000-square-foot warehouse and showroom expansion for Frain Industries at 245 E. North Ave. in Carol Stream. The addition brings Carol Stream-based Frain’s facility to a total of approximately 530,000 square feet. The project enhances Frain’s capabilities in packaging and processing equipment solutions.

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NewMark Merrill Receives $36M Loan for Refinancing of Shopping Center in Melrose Park, Illinois

Kristin Harlow — Mon, 26 Jan 2026 14:02:00 +0000

MELROSE PARK, ILL. — NewMark Merrill has received a $36 million loan for the refinancing of Winston Plaza, a shopping center in Melrose Park. NewMark Merrill acquired the property in 2008 and completed an extensive remodeling and repositioning. Since the end of COVID, the center has received more than 100,000 square feet of new merchants, including a Cermak grocery store, Ross Dress for Less, Burlington, JD Sports, Sistar Beauty and an expanded Five Below store. Kostas Kavayiotidis of Pacific Southwest Realty and Bryan Gortikov of Gortikov Capital arranged the refinancing loan with Wells Fargo for long-term debt from Mutual of Omaha. Sandra Kist and Josh Ginsborg represented NewMark Merrill on an internal basis.

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Michael P. Jakubiec Investment Real Estate Brokers Sales of Three Indiana Multifamily Properties

Kristin Harlow — Mon, 26 Jan 2026 14:01:00 +0000

INDIANA — Michael P. Jakubiec Investment Real Estate Inc. has brokered the sales of three multifamily properties in Indiana. All of the properties sold at list price within three days of each other. The 50-unit Bison Ridge Apartments in Nappanee sold for nearly $3.8 million, and the 24-unit Orchard Park Apartments in Wakarusa transacted for $1.3 million. Both were owned by the same entity and were acquired by the seller of the 48-unit Kensard Manor Apartments in Mishawaka, which sold for $3.8 million.

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Marcus & Millichap Arranges $4.4M Sale of Maverik Gas Station Property in Springfield, Missouri

Kristin Harlow — Mon, 26 Jan 2026 14:00:00 +0000

SPRINGFIELD, MO. — Marcus & Millichap has arranged the $4.4 million sale of a net-leased Maverik gas station property in Springfield. The 6,203-square-foot asset is situated on a 2-acre lot at 2704 S. Campbell Ave. The property was built in 2016 and recently remodeled following Maverik’s 2023 acquisition of Kum & Go. There are 10.8 years remaining on the primary lease term. Jackson Harris, Chris Lind, Mark Ruble, Zack House and David Saverin of Marcus & Millichap procured the buyer, a California-based limited liability company.

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EQT Real Estate Buys 1 MSF Industrial Property in Olyphant, Pennsylvania

Taylor Williams — Mon, 26 Jan 2026 13:35:00 +0000

OLYPHANT, PA. — Global investment firm EQT Real Estate has purchased a 1 million-square-foot industrial property in Olyphant, located just outside of Scranton. Completed in 2023, Scranton North Logistics Center features a clear height of 40 feet, 185-foot truck court depths, 233 trailer parking stalls, 163 dock-high doors and four drive-in doors. John Plower, Ryan Cottone and Zach Maguire of JLL brokered the sale of the property, which was fully leased at the time of sale to an unnamed tenant. The seller was regional owner-operator Endurance Real Estate.

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Venu to Open $150M Amphitheater at Flyway District in Webster, Texas

Taylor Williams — Mon, 26 Jan 2026 13:33:00 +0000

WEBSTER, TEXAS — Venu, a hospitality and entertainment owner-operator based in Colorado, has signed a letter of intent to open a 12,500-seat amphitheater in Webster, a southeastern suburb of Houston. According to local media sources, including Community Impact Newspaper and CultureMap Houston, the project is valued at $150 million. Known as Sunset Amphitheater Houston and spanning 34 acres, the venue will be located within Flyway, an 80-acre entertainment district that is anchored by Great Wolf Lodge. Former Dallas Cowboys quarterback Troy Aikman is a partner on the project via the Aikman Club, a 350-seat, membership-based elevated space that will be located at the center of the venue. A construction timeline was not announced.

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BlueGate JLL Arrange Sale of 194-Unit Apartment Complex in Fort Lee, New Jersey

Taylor Williams — Mon, 26 Jan 2026 13:33:00 +0000

FORT LEE, N.J. — Regional brokerage firm BlueGate Partners and JLL have co-arranged the sale of Twenty50, a 194-unit apartment complex in the Northern New Jersey community of Fort Lee. Built in 2013, the 12-story building houses one- and two-bedroom units with an average size of 896 square feet. Amenities include a pool, coworking space, library, fitness center, lounge and outdoor grilling and dining stations. Mark DeLillo, Marc Schulder and Lee Spiegleman of BlueGate collaborated with JLL’s Jose Cruz, Steve Simonelli, Mike Oliver and Elizabeth DeVesty to broker the deal. The buyer and seller were not disclosed.

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IPA Brokers Sale of 277-Unit Multifamily Portfolio in Midland, Texas

Taylor Williams — Mon, 26 Jan 2026 13:32:00 +0000

MIDLAND, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of a portfolio of four multifamily properties totaling 277 units in the West Texas city of Midland. The properties, which are collectively known as the Midland Value-Add Portfolio, include Brighton Court, Delmar Villas, Enclave and Signature Place. All four properties were built in the early 1980s. Will Balthrope and Drew Garza of IPA, in association with Tommy Lovell III and Richard Robson of Marcus & Millichap, represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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Intercontinental Sells 127,496 SF Healthcare, Retail Building in Garden City, New York

Taylor Williams — Mon, 26 Jan 2026 13:32:00 +0000

GARDEN CITY, N.Y. — Intercontinental Real Estate Corp. has sold a 127,496-square-foot healthcare and retail building in Garden City, located on Long Island. The site spans 2.3 acres at 1300 Franklin Ave., and the building was originally constructed in the 1960s and renovated in 2007. Jose Cruz, Jeremy Neuer and David Leviton of JLL represented Intercontinental in the transaction. The buyer and sales price were not disclosed. The building was 78.5 percent leased at the time of sale.

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Broadway Street Completes 252-Unit Affordable Housing Project in Round Rock, Texas

Taylor Williams — Mon, 26 Jan 2026 13:31:00 +0000

ROUND ROCK, TEXAS — Minnesota-based Broadway Street Development has completed The Preserve at Mustang Creek, a 252-unit affordable housing project in the northern Austin suburb of Round Rock. Designed by Merriman Anderson Architects and built by Cadence McShane, the property offers one-, two-, three- and four-bedroom units that are reserved for households earning between 30 and 60 percent of the area median income. Amenities include a pool, outdoor grilling and dining stations, a playground, fitness center, café kitchen and an activity room. The Texas Department of Housing and Community Affairs provided partial funding for the project. Construction began in fall 2023.

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Bank of America Signs 70,914 SF Office Lease Renewal at Greenway Plaza in Houston

Taylor Williams — Mon, 26 Jan 2026 13:30:00 +0000

HOUSTON — Bank of America has signed a 70,914-square-foot office lease renewal at the 52-acre Greenway Plaza office complex in Houston. The banking giant will continue to occupy portions of the seventh and ninth floors at 20 Greenway Plaza, a 433,132-square-foot building. David Bale and Cody Little of JLL represented the tenant in the lease negotiations. Steve Rocher and Rima Soroka of CBRE represented the landlord, Los Angeles-based Stockdale Capital Partners.

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Slarskey LLC Signs 12,278 SF Office Lease in Midtown Manhattan

Taylor Williams — Mon, 26 Jan 2026 13:30:00 +0000

NEW YORK CITY — Slarskey LLC has signed a 12,278-square-foot office lease in Midtown Manhattan. The law firm will occupy the entire 32nd floor of 825 Third Avenue, a 40-story building at which a $150 million capital improvement program was recently completed. David Hoffman and Sam Hoffman of Cushman & Wakefield represented the tenant in the lease negotiations. Tom Bow, Ashlea Aaron, Bailey Caliban and Sayo Kamara represented the landlord, The Durst Organization, on an internal basis.

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Crescent, Rockefeller to Develop 530-Unit Apartment Community in Arlington, Virginia

Abby Cox — Mon, 26 Jan 2026 13:04:00 +0000

ARLINGTON, VA. — A joint venture between Crescent Communities and Rockefeller Group has closed on the land acquisition for NOVEL Arlington, a 530-unit apartment community located in Arlington, approximately five miles from downtown Washington, D.C. Situated on about 5.5 acres along South Glebe Road, NOVEL Arlington will include 493 multifamily residences and 37 townhomes across studio, one-, two- and three-bedroom floorplans, including both market-rate and affordable units. Designed around the concept of the “power to play,” the complex will feature 20,000 square feet of amenities such as a golf lounge with a full-swing simulator; clubroom with indoor-outdoor connectivity; private dining and watch-party room; courtyard with firepits, game zones and landscaping; rooftop resort-style swimming pool with cabanas; fitness center, solo fitness studio, sauna and recovery spaces; coworking nooks and social lounges; a record listening lounge; pet retreat and pet spa; resident market; and a privately programmed courtyard and public-private park with walking trails. The joint venture secured equity financing from Shimizu Realty Development and Mitsubishi Estate New York, a U.S. affiliate of Tokyo-based Mitsubishi Estate Co. Additionally, Sumitomo Mitsui Trust Bank, Limited New York Branch (SMTB) provided construction financing for the development. Other project partners include Bohler D.C. (civil engineer), Hord…

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Foundry, Principal Asset Management to Break Ground on 237,000 SF Industrial Development Near Charlotte

Abby Cox — Mon, 26 Jan 2026 13:02:00 +0000

UNION COUNTY, N.C. — A partnership between Foundry Commercial and Principal Asset Management has closed on the land purchase in Union County for 74 Junction, a two-building, industrial development. Construction is slated to begin in the coming months, with delivery scheduled for the third quarter. The project team will consist of Edifice (general contractor), 9G Studio (architect) and Thomas & Hutton (civil engineer). Located roughly 30 miles southeast of Charlotte, the facility will include two rear-load industrial buildings totaling more than 237,000 square feet. Both buildings, which will measure 120,000 square feet and 117,000 square feet, will feature 32-foot clear heights and modern specifications aligned with current market requirements that will accommodate a range of light industrial, distribution and service-oriented tenants.

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Avison Young Arranges $6M Sale of Office Building in Suburban Nashville

Abby Cox — Mon, 26 Jan 2026 13:01:00 +0000

BRENTWOOD, TENN. — Avison Young has arranged the sale of 110 Westwood Place, a 24,000-square-foot office building located in Brentwood, a southern suburb of Nashville. Brents Herron of Charles Hawkins Co. represented the buyer and future tenant, Civil Constructors, in the transaction. Lisa Maki, Mike Jacobs and Jordan Powell of Avison Young represented the seller, Lawrence Bank. Civil Constructors will relocate its operations from Franklin, Tenn., to occupy the entire two-story building.

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