What happened, and who moved.
Talonvest Capital closed a $105,000,000 refinancing for a two-hotel campus in Sunnyvale on behalf of K1 Dev, LLC, an entity controlled by T2 Hospitality, a vertically integrated hospitality real estate investment and development company. The properties include the 186-key TETRA Hotel, Autograph Collection, and the…
New-to-market investment bank Solomon Partners and analytics firm MSCI landed at one of Steve Ross’ downtown West Palm Beach office properties. The deals come as Ross, the octogenarian billionaire who is downtown West Palm’s biggest office landlord, is re-making the area, including into a hub for financial service…
Marcus & Millichap announced the sale of East Paris Medical Center, a 10,011-square-foot, three-suite medical and professional office in Grand Rapids, Michigan. The property sold for $2.13 million. “Investors were drawn to the property’s strong location and future upside potential, with all tenants currently paying…
SRS Real Estate Partners has completed the $6.92 million sale of a single-tenant grocery property located at 2103 Parkview Avenue in Kalamazoo, Michigan. The 29,000-square-foot freestanding grocery property is situated on 2.33 acres and is occupied by D&W Fresh Market, operated by a subsidiary of C&S Wholesale,…
The Sares Regis Group sold a Las Vegas-area apartment complex for $58 million, nearly $29 million less than they paid for it in 2022. Multihousing News reports that CONAM acquired the 232-unit Alicante through CONAM Strategic Investments Fund IV. Built in 2001, Alicante offers one-, two-, and three-bedroom floor…
The City of Boston put much of its $560 million in pandemic-era relief funds into building housing. As a result, Boston has seen more than 6,200 new income-restricted units built or under construction during Mayor Michelle Wu’s first term, the highest level of production in the past 25 years, according to a new…
Gantry has secured a $30.5 million permanent loan to refinance maturing debt for a 603,000-square-foot warehouse facility located in the Skyport Industrial Center at 7501 NW 106th Terrace in Kansas City’s Northland submarket. The multi-tenant facility underwent a full renovation in 2023 and is now 100%-leased in a…
Perry Ellis International, which has held the license for Nike Swim since 2003, has relocated its swimwear operations in Portland, Oregon, from its former space in Kerns to the Goose Hollow neighborhood. Perry Ellis signed a long-term lease for 25,289 square feet of office and studio space at Lincoln Place in…
Washington D.C.-based law firm Dunn Isaacson Rhee is establishing a new office in New York City. The firm, which specializes in high stakes trials, investigations and crisis management, has inked an 11,167-square-foot lease on the 34th floor of 7 World Trade Center, developer and landlord Silverstein Properties…
Swapnil Agarwal’s Nitya Capital saved a Dallas apartment property from foreclosure with a refinancing deal. The Houston multifamily syndicator secured a loan from Morgan Stanley for The Interlace Apartments, according to a release from Nitya. The release did not specify the size of the loan. The refinancing deal…
The Lake County Illinois Data Center Opposition Coalition, a group assembled specifically to oppose a Grayslake village area data center northwest of Chicago, announced a lawsuit against T5 Data Centers and Alter Asset Management that’s set to go up in the Cornerstone business park. Alter Asset Management Group…
Nonprofit group Alliance for Downtown New York has expanded its Lower Manhattan footprint to 42 Broadway. The Downtown Alliance, which manages the area’s business improvement district, secured a 14,420-square-foot lease at the Financial District tower, according to a recent CBRE office market report. The Downtown…
Wendy's has already closed 245 stores this year. Burger King has surpassed it as the nation's second-largest burger chain.
The trio are launching Theseus Infrastructure to fund development of Anthropic-anchored hyperscaler sites.
Trinity Investments and Elliott Investment Management pocketed a nine-figure gain in their eight-year ownership of the property.
BH Properties expands its presence with the Tollway North Office Park purchase in Plano, boosting its DFW asset portfolio.
Comcast Cable has leased 139,692 square feet at 1540 Broadway to consolidate its New York City offices, according to a CBRE report. The company is relocating from 407 Broadway and 55 W. 46th St., reported the New York Business Journal. Savills’ Gabe Marans and Maxine Rosen represented Comcast in the lease signing,…
Cox, Castle & Nicholson LLP served as counsel to Shores LLC in the sale of Shores, a 544-unit multifamily community in Marina del Rey, for $170 million to Jackson Square Properties affiliates. The transaction is one of the largest commercial real estate transactions in Los Angeles County year to date, according to…
Cushman & Wakefield has arranged a $107 million refinancing for 255 South King Street, a mixed-use property located in Seattle. Dave Karson, Chris Moyer and Chris Meloni of Cushman & Wakefield arranged the transaction on behalf of an affiliate of Steinhauer Properties, the borrower. Stoneway Capital originated the…
Nitya Capital refinanced Interlace Apartments, a 432-unit multifamily community in Dallas, Texas, with Morgan Stanley. Nitya secured new institutional financing for the Interlace property at a double-digit debt yield, reflecting the substantial operating income and value created since its acquisition. Recent media…
Cushman & Wakefield has represented Hotel Harrington, Inc. in its sale of the former Hotel Harrington, a redevelopment opportunity located at 436 11th Street NW in the heart of downtown Washington, D.C. The transaction marks the first sale of the property in approximately 110 years. Cushman & Wakefield’s Marc…
Newmark has arranged the sale of the 51,795-square-foot retail condominium at 919 North Michigan Avenue along Chicago’s Magnificent Mile. The property is anchored by Louis Vuitton and features a collection of luxury retailers. Newmark Senior Managing Director Keely Polczynski and President of Retail Capital Markets…
Jose Tur owns two rent-stabilized rental buildings in Manhattan’s Washington Heights with a total of 45 units. The properties have been in his family for over 30 years, and the mortgages are fully paid off. But Tur tells Commercial Observer that despite this, while he’s reluctant to give an exact number, “more than…
Oxbow Development Group is planning on expanding the Pearl by 10 new retail focused buildings. The new structures are expected to add 85,000 square feet of retail property to the Pearl. Construction on the expansion is set to begin early next year, with the timeline expected to be fully completed by late 2028,…
Landmark Properties delivered The Mark Fort Collins, a 397-bed off-campus student housing community at 255 Johnson Drive in Fort Collins, less than half a mile from Colorado State University. The project was developed in partnership with Silverpeak Real Estate Partners and Peninsula Investments. Landmark’s Jason…
Bally’s Chicago is pausing construction on nongaming amenities at its $1.7 billion casino complex over the legalization of video gambling terminals in the city. “Bally’s issued a notification to the Chicago Community Builders Collective that it is resetting the pace of construction of elements of Bally’s Chicago…
Greystone provided a $25.5M Fannie Mae loan for the acquisition of 422 & 424 W. Melrose Ave., a 169-unit multifamily property in Chicago's Lakeview.
Grosvenor Property Canada (GPC) has completed its second major industrial lease transaction on Annacis Island this year with Doka Canada Ltd.
Bristol Myers Squibb is set to invest $2.3B in Houston's Generation Park for a modular pharma campus, creating 500 jobs.
Real Capital Solutions (RCS), a real estate investment firm headquartered in Colorado, has launched a new $350 million fund that will target acquiring distressed Class A and Class B offices across the U.S., Commercial Observer can first report. The fund, RCS Contrarian Office Fund, plans to lever-up and ultimately…
Developer El-Ad National Properties has paid $60 million for an oceanfront hotel in Fort Lauderdale, Fla., property records show. The 99-room Sea Club Resort sits on a 1.2-acre site at 619 North Fort Lauderdale Beach Boulevard, between Belmar and Auramar streets. The 54,982-square-foot building dates back to 1954.…
The Payton is a 98% occupied community in Oregon’s entertainment district
Bristol Myers Squibb (BMS) selected Houston as the site for a new, multi-modal manufacturing campus, representing an approximately $2.3 billion investment designed to accelerate the delivery of next-generation medicines to patients. The campus, at Generation Park in Houston, will create nearly 500 skilled jobs and…
Town Lane, a New York-based real estate investment management firm, has acquired a 23-property industrial outdoor storage (IOS) portfolio and launched a platform venture with Axis Partners, an Atlanta-based industrial owner and operator. The transaction includes an investment by Town Lane in the Axis operating…
Oxbow Development Group submitted plans to the city for 10 new retail buildings on either side of Avenue A. Along with completely new builds, the firm is seeking permission to demolish a vacant industrial building at 250 E. Grayson St.,. The new structures will add 85,000 square feet of space to the complex. The…
Morgan Stanley Real Estate Investing acquires Honeywell Aerospace-occupied facility in Chandler and aviation maintenance campus near Sky Harbor Airport
Two hyperscale data center proposals in Florida made waves in county commission meetings and state politics, sending local governments into a moratorium frenzy and residents into skirmishes over the future of their communities. The developers behind those projects are equally splashy. A commercial rock-mining…
DBJ&L and MRK Partners are working with the town of Opa-Locka to redevelop its historic downtown. The plan includes thousands of residential units and 275,000 square feet of retail. The S. Florida Business Journal reports the city’s community redevelopment agency voted in favor of a resolution that authorizes…
Cousins and Town Lane jointly funded a $20 million renovation of the Proscenium building, a 21-story office building in downtown Atlanta. The joint venture bought the building in 2024. The Atlanta Business Journal reports the building is now over 75% occupied. The capital improvements at Proscenium included a…
The Metropolitan Transportation Authority (MTA) and Mayor Zohran Mamdani are considering high tech options to transfer heat out of subway stations and into the buildings above, in what would likely be a complicated and pricey infrastructure project. Still, city officials and the MTA believe it could be worth it to…
Boulder Ponds Senior Living and Round Lake Senior Living are two premier seniors housing communities totaling 216 units
JLL Capital Markets facilitates sale of Townridge Shopping Center in one of northwest Raleigh’s fastest-growing corridors
SB Real Estate Partners has owned Portola Bridge Creek in Vancouver, Washington, since 2022
This is a monster-sized post because the largest real estate brokerage company in the world is gaslighting us about private listings. It will be interesting to see if the inquiries by the House Judiciary Committee and Senator Warren will mean anything. Compass is launching its “Fall Marketing Playbook,” which…
MESA, ARIZ. — Garrett Cos. has completed construction of Emblem Mesa, a 248-unit multifamily project located at 1340 S. 48th St. in Mesa’s East Valley submarket. Situated on 14.3 acres, the garden-style development features 13 two- and three-story residential buildings with detached garages and covered parking…
GILBERT, ARIZ. — Grocer Safeway has opened a 64,000-square-foot store at The Gilmore, a 35-acre mixed-use development by Thompson Thrift that is located in the Phoenix suburb of Gilbert. Safeway will anchor the $225 million project, which is set to feature 300 luxury apartments, a hotel and roughly 200,000 square…
A cluster of single-family homes on 1-acre lots and vacant parcels near Baptist Hospital of Miami are slated for redevelopment with more than 200 apartments, proposals that riled up hundreds of neighbors in a pocket of Kendall. Four planned projects range from three to five stories, in a less than two-block area…
Trinity Investments sold the Grande Lakes Orlando Resort, a 409-acre luxury complex anchored by a 582-key Ritz-Carlton (shown) and a 1,010-key JW Marriott, for $1.38 billion to Ryman Hospitality Properties, Inc. Trinity acquired the resort in December 2018 for $870 million, with financial backing from Elliott…
Stream Realty Partners has been awarded the leasing assignment for Cummins Station, a more than 400,000-square-foot adaptive reuse office property located at 209 10th Ave. S in Nashville’s Urban Core. DZL Management is the owner of Cummins Station. Originally constructed as a rail terminal and warehouse, Cummins…
Een particuliere belegger heeft het winkelpand aan de Hooghuisstraat 21-23 in Eindhoven gekocht van een andere particuliere belegger. Het pand was tot voor kort in gebruik door Lumina Optiek.
New York-based private equity group OceanSound Partners has expanded by more than 10,000 square feet at SL Green Realty’s 450 Park Avenue office tower in Midtown. A new five-year lease secured OceanSound 32,032 square feet across the entire eighth, 22nd and 23rd floors of the office tower at the corner of Park…
HOUSTON — Fairfield Residential has completed 1010 Waugh, a 340-unit multifamily project in Houston’s Montrose district. Designed by Dallas-based KTGY, the 14-story building offers studio, one- and two-bedroom units that range in size from 539 to 1,612 square feet. Residences are furnished with stainless steel…
ATLANTA — Eldridge Capital Management has provided a $278 million loan to refinance Ten Twenty Spring, a 540,000-square-foot office tower located in Midtown Atlanta. Locally based Portman and funds affiliated with Blackstone Real Estate own the 25-story tower, which anchors Portman’s Spring Quarter mixed-use…
WASHINGTON, D.C. — Total nonfarm employment in the United States decreased by 23,000 jobs in July, according to the U.S. Bureau of Labor Statistics (BLS). Not only did July show an unexpected decline from the 83,000-figure forecasted by Dow Jones economists as reported by CNBC, but the BLS also revised both May and…
HORSE CAVE, KY. — Huff, Niehaus & Associates has brokered the sale of Quality Inn & Suites, a 68-room hotel located at 425 Flint Ridge Road in Horse Cave. Huff, Niehaus & Associates represented the undisclosed buyer in the transaction. The seller and sales price were also not disclosed. The property, which sits…
CYPRESS, TEXAS — Newmark has arranged a $52 million loan for the refinancing of Cantera at Towne Lake, a 366-unit multifamily property in the northwestern Houston metro of Cypress. Built in 2008 within the Towne Lake master-planned community, the property offers one-, two- and three-bedroom units and amenities such…
ST. CLOUD, FLA. — Berkadia has arranged $19.1 million in acquisition financing for Ibis Park at Harmony West, a newly constructed, build-to-rent (BTR) residential community located at 7110 Sandhill Crane Way in St. Cloud, about 28 miles south of Orlando. Brad Williamson, Kyle Ryan, Mitch Sinberg, Scott Wadler and…
DUNCANVILLE, TEXAS — Zenith IOS (industrial outdoor storage) has acquired a 14.9-acre facility in Duncanville, a southern suburb of Dallas. The crane-served property at 1200 N. Main St. houses a 49,000-square-foot, tilt-wall building with nine drive-through bays and four drive-in doors. Andrew Wieseman of…
Software and computing giant Qualcomm is expanding its Austin footprint. The chipmaker filed plans to build out an additional floor of office space at Parmer 4.1, a 188,000-square-foot office building at 13929 Center Lake Drive. The 70,000-square-foot expansion brings the San Diego-based company’s footprint at the…
NEW YORK CITY — Baker McKenzie has signed an office lease renewal and expansion in Midtown Manhattan. The law firm now occupies 121,833 square feet across more than seven floors at 10 Bryant, a 30-story building located at 452 Fifth Ave. Paul Glickman, Ben Bass and Kate Roush of JLL represented the landlord,…