Wednesday, May 27, 2026
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XSpace-Group-Houston
IndustrialLoansTexas

IPA Arranges $29M in Construction Financing for Northwest Houston Industrial Project

by Taylor Williams

THE WOODLANDS, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged $29 million in construction financing for an industrial project in northwest Houston. The square footage was not disclosed, but the development will have 84 condo-style units. Known as Lifestyle Industrial, the project is designed to incorporate elements of office, retail and entertainment. Adam Mengacci, Travis Headapohl and Matt Polci of IPA arranged the loan on behalf of the developer, X Space Group. The direct lender was also not disclosed.

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AcquisitionsNet LeaseRetailTexas

RealSource Arranges $5.4M Sale of Single-Tenant Retail Building in Kemah, Texas

by Taylor Williams

KEMAH, TEXAS — California-based brokerage firm RealSource Group has arranged the $5.4 million sale of a single-tenant retail building in Kemah, located southeast of Houston, that is net leased to Mister Car Wash (NASDAQ: MCW). The 5,462-square-foot building was constructed in 2021 and is backed by a fully guaranteed corporate lease. Austin Blodgett and Jonathan Schiffer of RealSource Group, in association with ParaSell, Inc., represented the seller, a local private investor, in the transaction. Chase Cameron of Matthews represented the buyer. Both parties requested anonymity.

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IndustrialLeasing ActivityTexas

Smurfit Westrock Signs 78,683 SF Industrial Lease in Northwest Houston

by Taylor Williams

HOUSTON — Smurfit Westrock has signed a 78,683-square-foot industrial lease in northwest Houston. The provider of packaging services is taking space within Patriot Business Park, a three-building, 462,591-square-foot development. Tyler Maner, Natalie Gilbert and Jeremy Lumbreras of Stream Realty Partners represented the landlord, a partnership between Standard Real Estate Investments and Investment & Development Ventures, in the lease negotiations. Paul Dominique and Hayden Dominique of Colliers represented the tenant.

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AcquisitionsIndustrialTexas

CanTex Capital Buys Four Industrial Outdoor Storage Facilities Totaling 47,465 SF in Dallas

by Taylor Williams

DALLAS — Local investment firm CanTex Capital has acquired four industrial outdoor storage (IOS) facilities totaling 47,465 square feet in the Brookhollow neighborhood of Dallas. Three of the four sites will immediately undergo capital improvements, with CanTex planning to renovate office and warehouse spaces and make functional yard improvements. Chase Miller of NAI Robert Lynn represented CanTex in the transaction. The seller and sales price were not disclosed.

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Newton-Crossing
DevelopmentMassachusettsMultifamilyNortheast

Garden Communities Nears Completion of 292-Unit Multifamily Project in Metro Boston

by Taylor Williams

NEWTON, MASS. — Garden Communities, a New Jersey-based owner-operator, is nearing completion of Newton Crossing, a 292-unit multifamily project that will be located on the western outskirts of Boston. Newton Crossing will comprise three buildings that will house studio, one-, two- and three-bedroom units. Amenities will include a game room with billiards, conference rooms, flex lounge areas, a fitness center, golf simulator and a rooftop terrace. Marketing and leasing initiatives are now underway, although information on starting rents was not immediately available.

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AcquisitionsDelawareIndustrialNortheast

CBRE Negotiates $6.9M Sale of Industrial Building in Wilmington, Delaware

by Taylor Williams

WILMINGTON, DEL. — CBRE has negotiated the $6.9 million sale of a 100,000-square-foot industrial building in Wilmington. The facility was built on a 5.9-acre site at 701 Garasches Lane between 1994 and 2002. Dan Reeder, Dan Rattay and Colby Reeder of CBRE represented the seller, Fibre Processing Corp., in the transaction. The buyer, Shaw Real Estate, plans to implement capital improvements such as new interior and exterior paint, new LED lighting throughout the building and site repaving.

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AcquisitionsNortheastPennsylvaniaRetail

CenterSquare Buys 32,242 SF Shopping Center in Warrington, Pennsylvania

by Taylor Williams

WARRINGTON, PA. — CenterSquare Investment Management has purchased a 32,242-square-foot, unanchored shopping center in Warrington, located north of Philadelphia. Built in 2015, Valley Gate Shopping Center is home to tenants such as Sport Clips, T‑Mobile, Visionworks, Crumbl Cookies and Buffalo Wild Wings. Chris Munley, Colin Behr, Ryan Sciullo, Casey Benson Smith and R.J. Mirabile of CBRE represented CenterSquare in the deal. Gregory Bianchi of US Realty Associates represented the seller, Metro Development Co.

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Leasing ActivityNew YorkNortheastOffice

BrightTower Signs 13,857 SF Office Lease in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — BrightTower has signed a 13,857-square-foot office lease in Midtown Manhattan. The local investment bank and capital markets advisory firm will relocate and expand from its space at 110 E. 25th St. to the entire 32nd floor of 41 Madison Avenue, a 42-story, 560,000-square-foot building, during the second quarter. Neil King and Alexander Golod of CBRE represented BrightTower in the lease negotiations. Robert Steinman internally represented the landlord, Rudin.

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12399-Northup-Way-Bellevue-WA
AcquisitionsIndustrialSelf-StorageWashingtonWestern

Commune Capital Sells Self-Storage Property in Bellevue, Washington for $50.7M

by Amy Works

BELLEVUE, WASH. — Commune Capital has completed the disposition of a self-storage property located at 12399 Northup Way in Bellevue. Premier Storage Investors acquired the asset for $50.7 million. Mike Mele, Luke Elliott, Jim Lewis and Steffan Brown of Cushman & Wakefield represented the seller in the transaction. Built in 2016 on 1.2 acres, the Class A 103,397-square-foot self-storage facility features 988 climate-controlled and drive-up units. At the time of sale, the property was 93 percent occupied.

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AcquisitionsCaliforniaLoansMultifamilyWestern

CBRE Negotiates $34.5M Million Sale of Multifamily Community in Sacramento

by Amy Works

SACRAMENTO, CALIF. — CBRE has negotiated the sale and acquisition financing of 16 Powerhouse, an apartment community in Sacramento. Oakmont Properties acquired the asset from Demmon Partners for $34.5 million. Marc Ross, Joe McNamara and Claire Holt of CBRE represented the seller in the deal. Andrew Behrens and Jesse Weber of CBRE secured acquisition financing for the buyer. Located at 1606 P St., the six-story 16 Powerhouse features 73 one- and two-bedroom floor plans and ground-floor retail space, currently occupied by Orchid Thai, Magpie and Temple Coffee. Built in 2015 and renovated with an addition in 2024, the community features a clubhouse and lounge, spa deck, an outdoor lounge, a rooftop deck and an outdoor kitchen.

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