Net lease news – page 287

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DealMarcus & Millichap Arranges Sale of 40-Unit Milwaukee MultifamilyApr 28, 2026Marcus & Millichap brokered the sale of Kane Place Apartments, a 40-unit multifamily property in Milwaukee, Wisconsin. The property sold for $3.52 million, or $88,125 per unit.DevelopmentMcHugh Construction, Powers & Sons Break Ground on Housing Development in Chicago’s South LoopApr 28, 2026McHugh Construction and joint venture partner Powers & Sons Construction broke ground on Southbridge 1C, the latest phase in the redevelopment of the former Harold Ickes Homes at 2305 S. State Street in Chicago’s South Loop.TenantsSpanish Footwear Brand Meermin to Open First DC-Area LocationApr 28, 2026JLL completed a new retail lease with EastBanc Inc. at 3001 M Street NW in DC’s Georgetown neighborhood, bringing Spanish footwear brand Meermin to the nation’s capital for the first time.IndustrialReport: Puget Sound Industrial Vacancy Reaches New HighApr 28, 2026The Puget Sound industrial market closed the first quarter of 2026 with vacancy rising to 11.5%, increasing 230 basis points year-over-year and marking a new high for the region, according to a recent report by Savills.TenantsAlexandria Real Estate Reports Increased Losses, Slow Leasing in Q1Apr 28, 2026The largest life sciences real estate investment trust (REIT) in the country continues to struggle with vacancies and poor balance sheet performance.Representative imageOfficeKen Griffin Expanding Office Footprint at Planned Miami HQ Amid Mamdani SpatApr 28, 2026Citadel billionaire Ken Griffin is expanding the office footprint at his planned headquarters tower in Miami and is considering whether to take additional space for his companies following a public taunt from New York Mayor Zohran Mamdani, Commercial Observer has learned.LendingMaxim Capital Lends $53M on Windsor Terrace DevelopmentApr 28, 2026A joint venture between Dornin Investment Group (DIG) and Torchlight Investors has secured fresh capital for a nearly completed Brooklyn multifamily development four months after purchasing the property’s nonperforming note.CentersU.S. News & World Report Relocates Offices to 10K SF at Vanbarton’s 31 Penn PlazaApr 28, 2026Stop the presses! U.S. News & World Report is moving its offices to Midtown’s 31 Penn Plaza. The digital media company recently secured 10,236 square feet at Vanbarton Group’s office tower along West 31st Street, Commercial Observer has learned. U.S.Representative imageTenantsInvesco Misses Q1 Earnings Estimates Despite Steady Inflow From New FundsApr 28, 2026Shares of Invesco’s stock were trading higher by over 3 percent at market open on Tuesday morning, despite a slight dip in the investment management firm’s 2026 first-quarter earnings results.Representative imageOfficeFashion Designer Pamella Roland Takes 10K-SF Office at 462 Seventh AvenueApr 28, 2026A renowned Hollywood fashion designer is moving her workspace within Midtown South.TenantsMarketing Agency Sportfive Inks 18K-SF Lease at RFR’s 477 Madison AvenueApr 28, 2026Sportfive, a marketing agency that focuses on creating campaigns for athletes and sports leagues, has signed a long-term lease for 18,038 square feet at RFR Holding’s 477 Madison Avenue, the landlord announced Monday.DealIndustrialHines Picks Up Site for 572K-SF Phoenix Industrial ProjectApr 28, 2026Hines has acquired Cactus 303, a shovel-ready development site located in the West Valley of Phoenix off Loop-303, entitled for a three-building, class-A industrial project totaling 572,282 square feet. Construction is expected to begin this summer.TenantsHoliday Inn Express/Staybridge Suites Opens in Downtown HoustonApr 28, 2026Neway Hospitality opened a 275-room dual-branded hotel in Downtown Houston earlier this month.Erik Rutter and David Weitz’s Oak Row Equities Has Proven a Master of MiamiApr 28, 2026Erik Rutter and David Weitz met as recent grads while working in New York at Tishman Speyer. After just three years at the real estate behemoth, the two struck out on their own, launching the firm now known as Oak Row Equities in 2018.IndustrialDrone Maker Skydio Plans $3.5B Investment to Expand ProductionApr 28, 2026San Mateo-based drone manufacturer Skydio has committed $3.5 billion to expand its domestic manufacturing, accelerate R&D and strengthen American supply chains.Representative imageTenantsOfficeSan Francisco’s AI Leasing Leads National Office Demand in Q1: ReportApr 28, 2026National office demand reached its highest level since before the pandemic in the first quarter of 2026, according to a new report, with artificial intelligence companies leading the leasing charge.LendingHoward Hughes Corp. Closes on $300M Refi For Las Vegas-Area Mixed-Use PropertyApr 28, 2026The Howard Hughes Corp. has refinanced Downtown Summerlin, a 400-acre mixed-use project in Las Vegas. The $300 million note was issued by U.S. Bank.DealMedicalNational Development Acquires Class A Wellesley Offices for RepositioningApr 28, 2026National Development, on behalf of a separate account it manages, has acquired 93 Worcester St., a lass A office and life science property located at the intersection of Route 9 and Interstate 95/Route 128 in Wellesley, MA. Deal terms were not disclosed.Office$164M San Antonio Office-to-Hotel Conversion to Begin This SummerApr 28, 2026Work on transforming the empty IBC Centre Tower I into a JW Marriott will begin in July. The conversion costs are estimated at $164 million.DevelopmentGFP Launches Affiliated Company Focused on Development and ConstructionApr 28, 2026GFP Real Estate, LLC has launched GFP Development, a new affiliated company formalizing the firm’s rapidly growing development and construction platform as GFP continues to pursue large-scale development, repositioning and conversion opportunities throughout New York City and…