By Garrett Karam, chief investment officer, EMBREY The Texas Stock Exchange (TXSE) represents the most serious attempt in 55 years to challenge the NYSE-Nasdaq duopoly and signals something that has not happened in generations: New York City’s monopoly on exchange infrastructure now has a credible challenger. As the TXSE prepares to launch in phases through 2026, EMBREY, a San Antonio-based investment and development firm, shares insights on how the exchange could further reinforce Dallas-Fort Worth’s (DFW) emergence as one of the country’s most important financial and economic centers. We also consider the direct implications for long-term economic growth and multifamily demand correlated to the launch of TXSE. Announced in 2024 and approved by the SEC in 2025, the TXSE has already raised more than $270 million from institutions including BlackRock, Citadel Securities, J.P. Morgan, Goldman Sachs, Bank of America and Charles Schwab. The exchange’s pitch to public companies centers around lower listing costs, fewer prescriptive requirements and a governance framework designed for operators. Combined with the state’s broader efforts to position itself as an increasingly attractive destination for business and corporate investment, the TXSE reinforces a larger shift already underway across North Texas. The exchange arrives at a time in …
Office
JLL Inks 70,000 SF of New Leases at Westside Paper Adaptive Reuse Development in Atlanta
by Abby Cox
ATLANTA — JLL has inked five new leases totaling 70,000 square feet at Westside Paper, a 15-acre adaptive reuse development located along the Atlanta BeltLine. Packsize, an on-demand packaging and automation company, signed a lease for 30,000 square feet. Construction Resources, which is owned by The Home Depot, is adding to their existing 50,000-square-foot showroom with a 23,000-square-foot office lease for its new headquarters. Disguise, a global visual experience technology company, will occupy 10,000 square feet, while Luxe Bridal will occupy 3,000 square feet. In the past 20 months, 180,000 square feet of new leases have been signed at Westside Paper. The project is now 75 percent occupied. Andrew Walker and Lauren Curran of Colliers represented Disguise; Jeremy Krause and Ben Kronman of CBRE represented Packsize; and Jeff Pollock of Pollock Commercial represented Luxe Bridal. David Horne, Caroline Fisher and Randy Joering of JLL represented ownership for the office lease negotiations, while Shelbi Bodner of Bridger Properties represented ownership for the retail leases. Developed and owned by FCP, a subsidiary of Federated Hermes Inc., and Atlanta-based Westbridge, Westside Paper is a 70-year-old former industrial warehouse that spans 245,000 square feet of mixed-use space.
Silicon Valley Initiative Partnership Receives $74.1M in Financing for Office-to-Residential Conversion Project in San Jose
by Amy Works
SAN JOSE, CALIF. — Silicon Valley Initiative Partnership has received $74.1 million in financing for the conversion of the historic Bank of Italy building, located at 12 S. 1st St. in downtown San Jose, into a mixed-use residential and retail property. Deutsche Bank provided the financing. Originally constructed in 1926, the 13-story office tower will be transformed into a 126,000-square-foot multifamily and commercial space. The residential portion will feature 109 studio, one- and two-bedroom, market-rate apartments complemented by a fitness center, lounge and an outdoor terrace. Dave Karson, Chris Moyer, Alex Lapidus and Chris Meloni of Cushman & Wakefield arranged the financing on behalf of of the borrower.
TUCSON, ARIZ. — Trade Winds Properties LLC has purchased 13,602 square feet of office condos within St. Mary’s Medical Plaza II, located at 1704 W. Anklam Road in Tucson. NWI St. Mary Medical Plaza Holdco LLC sold the assets for $1.8 million. Thomas Nieman and Bryce Horner of Cushman & Wakefield | PICOR represented the seller, while Timothy Redelsperger of Long Realty Uptown represented the buyer in the deal.
ATLANTA — Two tenant have joined the tenant roster at Pennant Park, a six-building, 763,465-square-foot office complex located adjacent to The Battery Atlanta, the mixed-use village surrounding Truist Park, the home ballpark of the Atlanta Braves. Chattanooga College, a for-profit post-secondary institution, has signed an 11-year lease for 27,000 square feet, while parking garage operator LAZ Parking has signed a 10-year, 5,700-square-foot office lease that will serve as its regional headquarters. Both tenants will occupy space in the 360 Building at Pennant Park. Atlanta Braves Holdings Inc. — owner and operator of the Atlanta Braves MLB team, the Battery Atlanta mixed-use development and Truist Park — purchased Pennant Park in April 2025.
NEW YORK CITY — Latham & Watkins has signed an 11-year 131,000-square-foot office lease expansion in Midtown Manhattan. The law firm now occupies 251,000 square feet at 1285 Avenue of the Americas. Scott Gamber, Craig Reicher and Emily Chabrier of CBRE represented the tenant in the lease negotiations. Robert Alexander, Ryan Alexander, Taylor Callaghan, Alexander Benisatto and Walter Graham of CBRE, along with Patrick Murphy of JLL and internal agents William Elder and Daniel Birney, represented the landlord, RXR.
PLANO, TEXAS — Remedi SeniorCare of Dallas has signed a 10,248-square-foot lease renewal at 2600 Research Drive, a flex building in Plano. Brian Pafford and Jared Laake of Bradford Commercial Real Estate Services represented the landlord, an entity doing business as Kennington Research LLC, in the lease negotiations. Jude Collins and Jake Griffin of Cushman & Wakefield represented the tenant.
KANSAS CITY, MO. — Colliers has brokered the sale of 2323 Grand Boulevard in Kansas City’s Crown Center submarket. Evan Warwick of Colliers represented the seller, Stanton Road Capital LLC. Bryan Johnson of Colliers represented the buyer, Crain Co., a multifamily acquisition and development company based in Wichita. Amenities at the property include a full-service cafeteria with outdoor seating, dedicated management and maintenance teams, 24-hour security and a fitness center. Recent capital enhancements included a renovated lobby, common areas and elevator systems. The 11-story building was developed in 1985. Stanton Road Capital acquired the property in 2017.
ATLANTA — CBRE has arranged a 40,000-square-foot office lease at Tower Square, a 1.5 million-square-foot office complex located at 675 W. Peachtree St. in Midtown Atlanta. The tenant, locally based medical imaging technology company OXOS, is relocating from its nearby headquarters at 1100 Peachtree. This transaction marks the first lease at Tower Square since AT&T vacated the 45-story building in 2020. Tower Square underwent a comprehensive repositioning following AT&T’s departure, including a renovated lobby, an activated 28,000-square-foot outdoor plaza and the buildout of The Exchange at Tower Square, a 75,000-square-foot retail and patio complex that includes tenants such as Planet Fitness, Five Iron Golf and onsite dining options. In addition, Tower Square is Midtown’s only office building with direct in-building access to MARTA. Jessica Doyle and Graham Little of CBRE represented the landlord, Icahn Enterprises, in the transaction. Chris Campbell of Cecil Campbell Real Estate represented the tenant.
WALLINGFORD, CONN. — Cushman & Wakefield has brokered the sale of The Campus at Greenhill, a 288,795-square-foot office development in Wallingford, located roughly midway between Hartford and New Haven. The Campus at Greenhill was built in 2012 on a 100-acre site that includes land for future expansion and offers amenities such as a fitness center and a full-service cafeteria. Matt Torrance, Al Mirin and Bob Motley of Cushman & Wakefield brokered the deal. The seller was undisclosed, and the buyer was regional investment and development firm KS Partners.