Creation, Clarion deliver 1st phase of $250M campus. At full build-out, the complex will comprise 1.3 million square feet of spec industrial space. Creation and Clarion Partners have completed the first stage of Park Algodon, a $250 million speculative industrial and mixed-use development in Phoenix's West Valley. Upon full build-out, the campus will comprise 1.3 million square feet of Class A industrial space with an adjacent 7-acre property featuring more than 14,000 square feet of retail and restaurant space. The joint venture acquired the land for the industrial campus in November 2023. The duo broke ground on the first phase of the project in May 2024, comprising four buildings and totaling roughly 725,000 square feet. The facilities were designed to accommodate tenants ranging from 30,000 to 317,000 square feet. The second phase will feature a single 556,000-square industrial building. Located in the northwest corner of Loop 101 and Indian School Road, the two properties span roughly 86 acres. The campus is visible from the freeway and also has strong regional access. The infill project is situated near Interstate 10 and downtown Phoenix is about 15 miles east of Park Algodon. All the industrial buildings feature 32- to 40-foot minimum clear heights, ample power and abundant employee parking. A second phase still to come. Grant Kingdon, principal of Mountain West region for Phoenix-based Creation, told Commercial Property Executive no leases have been signed for the first four buildings or the second phase. He confirmed that Clarion will also be a partner for the last industrial building. "The timeline for construction will be about a 10-month build, with no groundbreaking date set at this time," Kingdon, said. Matching national industrial real estate trends, Kingdon said in prepared remarks that there is strong demand in the Phoenix region for best-in-class industrial space by a diverse range of industries because of proximity and accessibility to neighboring markets and ports. LGE Design Build has been in charge of architecture and construction for the project. Industrial leasing is being handled by Cushman & Wakefield Executive Vise Chairs Andy Markham and Phil Haenel. Principals Matt Milinovich and James DeCremer with Avison Young are the brokers for the mixed-use leasing. Closer look at mixed-use component. Separate from the industrial joint venture, Creation also developed The Shops at Park Algodon, which is expected to serve both the workers at Park Algodon as well as surrounding residential neighborhoods. The Shops at Park Algodon has only a few remaining suites available to lease, ranging from 1,100 to 2,600 square feet. Buildings A and B will be turned over to tenants within the next 30 days. Several openings are expected later this year. Confirmed tenants include a mix of fast-casual and specialty dining options, such as Einstein Bros. Bagels, Chipotle and Luna Grill, as well as Zara Nail Bar. Active in arizona. Creation, which also has a second headquarters in Dallas and an office in Tampa, Fla., has expanded its footprint across the U.S. with $4.5 billion in active development projects in eight states. Late last year, the company broke ground on a 6-acre industrial development in Tempe, Ariz., that will have a total of 120,000 square feet in two buildings. Tech company Pacific Office Automation is a joint venture partner in the project and will lease a 75,000-square-foot building for its Southwest headquarters. Other projects in the Tempe area include Source Business Center and Nexus Commerce Center, which broke ground in 2025.

Clarion Partners acquires The Grand at Spokane, a newly delivered luxury Senior Living community in Washington state. 3 minutes read Franklin Templeton specialty investment manager continues its push into commercial real estate investment in the healthcare sector SAN MATEO, Calif.-(BUSINESS WIRE)-Franklin Templeton, a global investment leader and its specialist investment manager, Clarion Partners, today announced that Clarion Partners has acquired The Grand at Spokane, a newly delivered luxury senior living community and full-continuum senior care facility located in the Spokane, Washington area. The acquisition was made on behalf of one of Clarion's commingled funds and underscores the firm's continued focus on high-quality healthcare and specialized real estate investments in demographically compelling markets. Delivered in 2024 and developed by NexCore Group, The Grand at Spokane (formerly The Gallery at Spokane) is a luxury 137-unit, purpose-built senior care community offering independent living, assisted living, and memory care services. The property is fully licensed and designed to support residents as their care needs evolve, allowing for continuity of care within a single community. The Grand at Spokane features modern construction delivered in a unique architectural design, spacious floor plans, and upscale finishes that distinguish it from older competitive properties in the area. Offering a hospitality-driven experience tailored to discerning residents, the community offers a robust suite of amenities designed to support resident wellness, comfort, and engagement. From contemporary common areas like The Sky Lounge, which serves as a vibrant hub for resident programming, to restaurant-style dining with a culinary program managed by Chef Estevan Ruiz, the spaces are thoughtfully designed for entertainment, comfort and safety. Located in the South Hill area of Spokane, the facility services an affluent submarket characterized by strong household wealth, favorable long-term demographics, and limited new competitive supply. The surrounding area benefits from proximity to major healthcare institutions, neighborhood retail, and established residential communities, making it an attractive option for both residents and their families. The Grand at Spokane will continue to be operated by Stellar Senior Living, the property's incumbent operator. Stellar is a family-owned senior living platform with deep experience across independent living, assisted living, memory care, and skilled nursing communities throughout the Western and Mountain regions of the United States. Stellar manages a diversified portfolio of senior housing communities and is widely recognized for its ability to successfully lease up and reposition newly delivered or underperforming assets. The firm has demonstrated consistent operating performance across its portfolio, supported by a resident-centered care philosophy, strong clinical oversight, and disciplined operational execution. Strategic Alignment "This acquisition reflects our conviction in high-quality healthcare real estate supported by strong operators and favorable long-term demographics," said Julie Robinson, Head of Healthcare at Clarion Partners. "The Grand at Spokane exemplifies the type of asset we seek on behalf of our investors - new construction, located in a supply-constrained market, and operated by a best-in-class partner with a proven track record." Ray Henderson, CEO & President of Stellar Senior Living, adds: "Stellar is very excited to partner with Clarion Partners on The Grand at Spokane. Their investment and commitment to the community align well with Stellar's focus on delivering world-class senior living and strong operational performance. Together, we look forward to supporting residents, families, and team members while continuing to strengthen the community's impact in Spokane." About Clarion Partners Clarion Partners, an SEC registered investment adviser with FCA-authorized and FINRA member affiliates, has been a leading U.S. real estate investment manager for more than 40 years. Headquartered in New York, the firm maintains strategically located offices across the United States and Europe. With over $72 billion in total real estate and debt assets under management as of December 31, 2025, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to 500 institutional investors across the globe. Clarion Partners is a specialty investment manager of Franklin Templeton. About Franklin Templeton Franklin Resources, Inc. [NYSE:BEN] is a trusted investment partner, delivering tailored solutions that align with clients' strategic goals. With deep portfolio management expertise across public and private markets, The AI Journal Ltd. combine investment excellence with cutting-edge technology. Since its founding in 1947, The AI Journal Ltd. has empowered clients through strategic partnership, forward-looking insights, and continuous innovation - providing the tools and resources to navigate change and capture opportunity. With more than $1.7 trillion in assets under management as of February 28, 2026, Franklin Templeton operates globally in more than 35 countries. Disclaimer Nothing herein constitutes an offer or solicitation of any product or service to any person or in any jurisdiction where such offer or solicitation is not authorized or is prohibited by law.

Clarion acquires dürrholz-based logistics facility. Clarion Partners Europe has acquired a 41,000m^2 (c. 441,320ft^2) logistics facility in Dürrholz, western Germany, on behalf of one of its co-mingled funds. Completed in phases between 2006 and 2019, the single-tenant property is occupied by European B2B tyre distributor Best4Tires on a long-term lease. The facility serves as Best4Tires' primary German storage and distribution facility and includes features such as LED lighting throughout and a BREEAM 'Very Good' rating. The property is located in the wider Koblenz market, within a short drive from the A3 highway, which connects two of Europe's largest economic areas - Rhein-Ruhr and Rhine-Main. Clarion Partners Europe has deployed over €890m (c. £777m) into the German logistics market in the last 36 months on behalf of its co-mingled funds. Clarion Partners Europe managing director, Thorben Schaefer, said: "Logistics Manager has high conviction in its long income programme, which offers long-dated, inflation-linked cash flows and a strong defensive profile. "We anticipate that ongoing macro uncertainty will present further acquisition opportunities across a number of sectors."