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Irvine Company Trades Pasadena Office for 32% DiscountSouthern California’s largest owner of multifamily units is trading off many of its office assets across the region, and one of the state’s fastest-growing banks is stepping up to take advantage in Pasadena.
Prologis Developing 6-Building, 786K-SF Cedar Park Warehouse ProjectPrologis can start moving dirt on its 75-acre logistics park in Cedar Park. The Austin Business Journal reports the company is constructing spec built-to-suit warehouses for the first phase of Northwest Depot along Brushy Creek Road.
Medline Begins Construction on $150M DFW Warehouse DevelopmentMedline has begun work on a 1.2-million-square-foot development in Midlothian, Texas. Medline plans to implement an advanced storage and retrieval system at the Midlothian facility. Medline invested $150 million in this project.
New Jersey Is a Film Hub Again After a 100-Year HiatusIf one was in the mood for a stargazing vacation — not for the stars in the sky, but for the name-droppy ones that grace the big and small screens — New Jersey would hardly seem the ideal location.
Resia Obtains $38M Refi for Denton ApartmentsResia scored a $37.9 million refinancing for Resia Rayzor Ranch, a 322-unit community in Denton, Texas. ACRE was the lender, in a deal arranged by JLL Capital Markets.
Crestline Refis Coral Gables Office Building With $25M LoanWestside Capital Group has landed a $24.7 million loan to refinance its newly acquired headquarters in suburban Miami, Commercial Observer has learned.
Colliers Negotiates 1 MSF Industrial Lease in Northlake, TexasNORTHLAKE, TEXAS — Colliers has negotiated a 1 million-square-foot industrial lease in Northlake, located north of Fort Worth. The tenant is DSV Contract Logistics, and the deal is for the entirety of Building 1 within Northlake 35 Logistics Park.
Representative imageNewQuest Inks Three Ground Leases at Texas Heritage Marketplace in KatyKATY, TEXAS — Local owner-operator NewQuest has inked a trio of ground leases at Texas Heritage Marketplace, the local owner-operator’s $400 million mixed-use development in the western Houston suburb of Katy.
Representative imageBaymark Health Signs 30,388 SF Office Lease Renewal in Lewisville, TexasLEWISVILLE, TEXAS — Baymark Health Services has signed a 30,388-square-foot office lease renewal in Lewisville, a northern suburb of Dallas.
Representative imageOxford Partners Negotiates 21,806 SF Industrial Lease in Northwest HoustonHOUSTON — Local brokerage firm Oxford Partners has negotiated a 21,806-square-foot industrial lease in northwest Houston. According to LoopNet Inc., the building at 13719 FM 529 features 28-foot clear heights and 4,275 square feet of office space.
High Street Expanding its Perimeter Summit Apartment PresenceHigh Street Residential (HSR) has provided plans to Brookhaven for review that would add 280 apartment units to its already-under-construction 350-unit project at Perimeter Summit.
BLDG Management Begins Leasing 69-Story Apartment Tower in QueensNEW YORK CITY — BLDG Management Co. has begun leasing The Orchard, a 69-story apartment tower located in the Long Island City neighborhood of Queens.
Evolve Snags $41M Refi on SC Rental CommunityEvolve Companies secured a $41 million refinancing for its 280-unit apartment community at 510 Cedar Tree Rd. in Wellford, South Carolina, near Spartanburg.
Representative imageGFI Realty Arranges $38M Sale of Manhattan Commercial Development SiteNEW YORK CITY — Local brokerage firm GFI Realty has arranged the $38 million sale of a commercial development site in Manhattan’s Kips Bay neighborhood. The site is an assemblage of parcels at 563–571 Second Ave.
Representative imageHouse and Senate Clash Over BTR Provision in Landmark ROAD to Housing ActA landmark housing bill that the U.S. Senate passed this week faces an uncertain future in the House of Representatives due to a clause that could change the face of the multifamily industry, and as a result has generated fierce pushback from the real estate lobby.
Representative imageClub Studio Fitness to Open 30,240 SF Gym in Cherry Hill, New JerseyCHERRY HILL, N.J. — Club Studio Fitness will open a 30,240-square-foot gym in the Southern New Jersey community of Cherry Hill. The space is located within Ellisburg Shopping Center and will include training areas, a juice bar and recovery facilities.
Nonprofit Developer Helming $375.9M Jacksonville Sr. Housing ProjectA nonprofit senior living developer plans to build a 32-story tower at 111 Riverside Ave., Jacksonville, encompassing approximately 500,000 square feet and including 239 residential units and 40 licensed care units.
LDK Ventures Acquires 300,564 SF Industrial Building in RenoRENO, NEV. — LDK Ventures has completed the purchase of Reno Distribution Center, an industrial property located at 4910 Longley Lane near the Reno-Tahoe International Airport in Reno. Eric Bennet and Tomi Jo Lynch of CBRE brokered the acquisition.
Construction Underway on North Beach Condo VentureNorthlink Capital began construction of 7200 Collins, at 7200 Collins Ave. The 12-story development will include 222 one- and two-bedroom units. Each unit will come fully furnished and have a private terrace.
Glencrest Group, Sky Alps Capital Buy 155-Unit Cedar Square Apartment Community in Beaverton, OregonBEAVERTON, ORE. — A joint venture between Glencrest Group and Sky Alps Capital has acquired Cedar Square, a garden-style multifamily community at 10480 SW Eastridge St. in Beaverton, from a local owner for $29.8 million.