What happened, and who moved.
The owner of a vacant office property on Boston's waterfront that was previously proposed for redevelopment has listed it for sale.
Rexford Industrial Realty plans to sell off up to $2B of its portfolio, using the proceeds to pay off debt that is set to mature next year. Rexford increased its full-year 2026 disposition guidance to $1.5B to $2B, according to second-quarter filings...
Artificial intelligence-focused computing providers called neoclouds represent the fastest-growing segment in the booming data center market. But some data center executives are skeptical about the business models underpinning this startup-dominated...
International law firm Simpson Thacher & Bartlett LLP appears to be in talks to lease a historic property near the White House, in what could become the District's largest private sector lease so far this year.
After several years of an effective freeze on new power connections around Ireland, the country’s data centre sector is being reshaped. Policymakers have attempted to redefine the industry, creating opportunities for investors prepared to develop alongside...
Feeling barraged by a constant stream of often-confusing economic information? Walker & Dunlop CEO Willy Walker has some simple advice: Ignore the “noise” and focus on the data. “Everyone has a [social media] feed that is filled with noise,”...
Affiliated Development started construction on a Live Local Act project in Fort Lauderdale after scoring a $74 million construction loan. Pacific Life Insurance Company provided financing for The Cove, an eight-story, 376-unit development at 1055 North Federal Highway. The project is also being capitalized with…
Affiliated Development has closed on a $74 million construction loan with Pacific Life Insurance Company for The Cove, a mixed-use, mixed-income multifamily development on the northwest corner of Sunrise Boulevard and Federal Highway in Fort Lauderdale. Just over half of the 374 units will be restricted to families…
Chicago investor Igor Gabal cleared another hurdle in his effort to partially convert a heavily-discounted loop office building into a data center. Greenwich, Connecticut-based alternative investment firm, Strategic Value Partners, inked a deal last week to partner with Gabal on the conversion of 300 West Adams…
Texas Monthly is moving from 816 Congress Avenue in Downtown Austin to a 36,000-square-foot space at 1801 North Lamar Boulevard. Renovations at the site to make way for the magazine are expected to cost around $15 million. The Austin-based statewide magazine’s renovation will also convert the building from a…
Allapattah, already a neighborhood targeted for redevelopment, now has a $243 million spending plan that leans in on infrastructure improvements and affordable housing construction. Miami commissioners, sitting as the members of the newly formed Allapattah Community Redevelopment Agency, unanimously voted for the…
Steve Ross, who developed an office and condo empire in West Palm Beach, is planning his first Live Local Act project. The proposal aligns with Ross’ public stance that the shortage of attainably priced housing is a top issue in Palm Beach County and marks a full circle for the 86-year-old who started out as an…
Northmarq’s New York Metro Debt + Equity team led by Robert Delitsky and Keith Braddish arranged the $15-million refinance of Atlantic Plaza Shopping Center. The 34,949-square-foot, multi-tenant anchored center is located at 102-20 Atlantic Avenue in the Ozone Park section of Queens. Northmarq arranged the…
Newmark arranged the sale of EmeryTech, a creative office campus at 1400 65th St. in Emeryville for an undisclosed sum. Executive Vice Chairman and President, Western Region Capital Markets Steve Golubchik, Vice Chairman Edmund Najera and Senior Managing Director Darren Hollak represented buyer Cannae Partners as…
Marcus & Millichap finalized the sale of 5035-49 Guava Ave., an 81-unit seniors affordable multifamily property located in La Mesa. The property sold for $12.5 million, or $154,320 per unit. “Age-restricted communities with long-term affordability protections are rarely available for acquisition in San Diego…
NAI DiLeo-Bram & Co. (NAIDB) is marketing 240 Circle Drive North, a 74,500-square-foot industrial building situated on approximately five acres in Piscataway, NJ. The property features a 6,000-square-foot office component and is suited for an owner-user buyer seeking to establish or expand their strategic foothold…
Olmstead Properties has signed Luckin Coffee to a new 10-year, 1,200-square-foot retail lease at 180 Varick St., bringing one of the country’s fastest-growing coffee brands to the base of the historic Hudson Square office building. Luckin Coffee will replace a neighborhood pizzeria and deli that had occupied the…
Merchants Capital announced the closing of Merchants Capital Tax Credit Equity Fund 31, a $160 million multi-investor fund with 10 institutional investors. Merchants Fund 31 will infuse equity into nine affordable housing properties, creating or preserving more than 1,400 affordable homes in Rhode Island, Ohio,…
Northeast Private Client Group (NPCG) arranged the $3,525,000 sale of 250 Main ST. in Boston’s Charlestown neighborhood. Investment associate Tom Egbers represented the seller and procured the buyer. 250 Main St. is a mixed-use property located in Charlestown. The property offers the buyer a well-positioned…
One of the largest AI data center projects in the country is becoming a case study in how secrecy, politics and real estate can converge to reshape an entire market. Meta’s $50 billion Hyperion campus in northeast Louisiana transformed thousands of acres of farmland into some of the state’s most valuable…
A $37M construction loan will help bring more new apartments to a Philadelphia multifamily submarket that has experienced a development surge.
Tidal Real Estate Partners is “waving” hello to the opportunity to convert a Savannah, Ga., multifamily building into a Margaritaville-branded hotel. The New York City development firm just sealed $113 million of bridge debt to recapitalize and repurpose the 2023-built Ann Street Lofts property into the 230-key…
Peak Construction Corporation has been awarded Scannell Properties’ Interstate Aviation Hub in Union, Ohio. The 305,480-square-foot speculative building with 36’ clear height will feature 34 docks, two drive-in doors, 26 knock-out panels, 130 car spaces, 83 trailer stalls and 2,755 square feet of office. Peak is…
An artificial intelligence-powered management platform designed to help law firms has signed an office lease on the Lower East Side, Commercial Observer has learned. AI platform Sandstone signed a five-year deal spanning 13,794 square feet on the entire third and fourth floors of East End Capital’s 141 East Houston…
Mid-America Real Estate Corporation’s Investment Sales Group recently brokered the sale of Lincoln Park West, a 37,615-square-foot iconic retail asset located at the heart of Lincoln Park. The offering featured a durable rent roll and the opportunity to significantly add value through lease-up or adaptive reuse of…
The Wellington Resort in Newport, RI has been listed for sale by Gustave White Sotheby’s International Realty, the Providence Business Journal reported. Located at the intersection of Thames Street and Wellington Avenue, the waterfront property is listed for $55 million. The resort at 551 Thames St. features 52…
Vulcan Real Estate announced that Coffee TAB, a nonprofit coffee shop and workforce development program, is opening this summer at 23rd & Jackson in Seattle’s central area. The location will activate the northeast corner storefront at 23rd & Jackson, owned by Vulcan Real Estate. With locations in Belltown and…
Industrial investor and developer CapRock Partners announced that Building 1 at CapRock Central Point III in Visalia has been fully leased to an undisclosed global corporate tenant. The 1,270,750-square-foot commitment ranks among the largest industrial lease transactions completed in California’s Central Valley in…
Bridge Logistics Properties announced the acquisition of 6920 192nd Street, a 782,775-square-foot distribution facility located in Frederickson, Washington, within the Seattle-Tacoma metro area. The transaction marks BLP’s largest acquisition in the Seattle market to date, further establishing its presence in the…
Maria Burke Interiors, LLC is moving its design studios and five employees to Townside Shopping Center, a 60,000 mixed-use project located in Charlottesville, Virginia. Founded in 2015 by Maria Burke, the firm intends to take occupancy of the new space at 2215 Ivy Road by early fall. Sam Orr and Brian Thomas of…
Hawthorn Mall in Vernon Hills is undergoing a sweeping $5 million renovation that’s bringing new restaurants, apartments and varying retailers to the area. Owner Dallas-based Centennial Real Estate is taking the traditional mall building, long-due for an upgrade, into a new era. Lighting across the interior of the…
Net Loss per Diluted Share of $8.08 for the Quarter, inclusive of a Net Loss from Discontinued Operations
A two-building life sciences complex in Boston’s South End traded to its lender as the market’s downturn in the aftermath of the pandemic continues to sink properties once targeting a boom in demand. Blackstone-backed BioMed Realty handed the keys of the adjacent 1000 Washington Street and 321 Harrison Avenue to…
JLL landed the listing on The Stack, the distinctive 16-story office tower in the Deep Ellum district of Dallas. The property is owned by a joint venture between Westdale Real Estate Investment and Management, Ivanhoé Cambridge and Hines. It was completed in 2021. The 217,000-square-foot building is 100% leased.…
The Korea International Trade Association (KITA) is launching a comprehensive, $200-million redevelopment to reposition 460 Park Ave. as a next-generation office destination. A JLL team led by vice chairmen Dave Kleiner, Frank Doyle and Cynthia Wasserberger and SVP Michael Pallas will handle marketing and leasing…
A partnership between Benchmark Real Estate and Regal Ventures has acquired an 85,053-square-foot industrial building in Easton, Pennsylvania, that is fully occupied by a designer and manufacturer of ergonomic workspace solutions. The property, located at 100 Kuebler Road, serves as the global headquarters of Human…
EQT Real Estate and a publicly traded REIT acquire fully occupied properties across Southeast and Midwest markets
Houston syndicator Nitya Capital offloaded a 1,000-unit Houston apartment portfolio as it faces multifamily distress in North Texas. Triten Real Estate, which is also based in Houston, picked up 3 Corners West from the Nitya, according to a release from Triten. The 997-unit portfolio sits on 35 acres at 10105…
Just weeks after offloading 405 Colorado in Downtown Austin, Brandywine is looking to shake up its portfolio again. Brandywine Realty Trust expects to sell off its Solaris apartment building at 2800 Solaris Street in the Uptown ATX development and find a partner to take on some of the financial burden for the One…
For Dedeaux Properties, California’s infamously arduous development environment can be both a hurdle and a competitive advantage. CEO Brett Dedeaux spoke with Commercial Observer about why the firm sees Tejon Ranch as such a compelling alternative to Los Angeles County and the Inland Empire, as well as how the…
Real estate investment and development firm Grun Group has filed plans with the New York City Department of Buildings (DOB) to bring a pair of 99-unit residential towers to the Bronx’s Woodlawn Heights neighborhood, records show. If approved, the first of the two new buildings will be at 4241 Webster Avenue and…
The office staff of London-based fashion label Manière De Voir is making the jump across the pond. The fashion brand has signed an 11,200-square-foot office lease at 599 Broadway in Manhattan’s SoHo neighborhood to open its first U.S. headquarters, Commercial Observer has learned. The move comes as the retailer…
Trademark Property Company (Trademark) and Harrison Street Asset Management are ready to get started on the redevelopment of the 43-year old Lincoln Square. The joint venture partners are investing $135 million in the new venture, to be called Anthem. InterBank is providing refinancing and construction financing…
Controversial father-son landlord duo Raphael and John Lowenstein took center stage in Cook County’s June foreclosure filings. After offloading a Kenwood apartment complex earlier this year amid mounting distress in their real estate portfolios, the Lowensteins are now facing nearly $55 million in combined…
As lawmakers in the House of Representatives appear to be zeroing in on the partnership between Compass and a Chicago-area multiple listing service, regional MLSes are bracing for potential fallout from the scrutiny of antitrust concerns. Representatives from the residential brokerage behemoth and Midwest Real…
Record 1H26 performance, with 2,392 deliveries, solid margins and €54mn Net Income (+753% YoY), on track to meet FY26 guidance of €120-140mn
Prices for the different types of commercial real estate sectors, from industrial to office and everything in between, had been moving generally in the same direction. Not anymore.
JLL arranges funding for Eastman Residential’s repositioning of former Campus Crest communities in three states
JLL Capital Markets facilitates loan for newly completed property bridging lease-up to stabilization in Baton Rouge’s booming South corridor
Northlink Capital has secured $85 million of construction financing to develop a Miami Beach luxury condominium project, Commercial Observer has learned. Deutsche Bank provided the loan, which will refinance past debt and fund ground-up construction of the 12-story condo tower at 7200 Collins Avenue in Miami…
Alert the Queen, here come the corgis! OK, not exactly. Corgi Cafe, a 24/7 coffee shop from Corgi, an artificial intelligence-powered insurance company — no, really — is getting ready to open its first location in New York City, Commercial Observer can first report. The tenant, which will operate a round-the-clock…
It’s become fashionable in New York City commercial real estate to bash the state’s 485-x program, which provides tax incentives for new residential development in certain areas of the five boroughs in exchange for including affordable housing. The criticism revolves around 485-x’s higher construction wage…
Investment in the self-storage market has been making a comeback after years of high interest rates and fewer home sales put a damper on the sector.
Mast Capital and Koch Real Estate Investments scooped up an oceanfront resort in the Florida Keys two years after it last sold. The Miami-based developer and Dallas-based investor acquired 22 villas and eight hotel suites at the Islands of Islamorada Resort from the Frisbie Group, according to a news release.…
MAG Capital Partners has completed the sale of more than 1.37 million square feet of long-term, net-leased industrial assets primarily acquired through its MAGCP Industrial Fund II, LP, in a six-property transaction with Fundamental Income Properties, a wholly owned subsidiary of Starwood Property Trust. The sale…
Golden Horizons Enterprises inked a $73.1 bridge loan on Merrick on Camelback, a 334-unit built-to-rent community in Phoenix, Arizona. The financing was arranged by Lument and originated by Arcus Real Estate Capital. The bridge loan has a three-year term with two one-year extension options. Golden Horizon…
Triten Real Estate Partners acquired 3 Corners West, a 283-unit apartment community in Houston’s Memorial/Spring Branch submarket. The acquisition completes Triten and Evergen Equity’s purchase of the three-property 3 Corners multifamily portfolio after the partnership acquired 3 Corners North and 3 Corners East in…
CyrusOne is pursuing the construction of a 460,000-square-foot data center in Medina County. The project is estimated to cost $500 million. The facility is at 3397 U.S. Highway 90 W., just west of San Antonio The project, identified as “SAT14A,” has an estimated completion date of June 2027. The data center…
The World Cup’s excitement may be over, but one of the most fascinating sports phenomena hasn’t been visible on fields or courts. A cadre of athletes has been channeling their professional star power to develop commercial real estate projects. And some of those ventures are happening in those athletes’ hometowns.…
Lenovo opened its new smart campus in Whitsett for everyone to see. The new campus is located near Lenovo’s fulfillment center. The multi-million dollar facility will be used to build servers and manufacture products for customers in North Carolina. The $145 million investment expands the Whitsett facility…