Property Type

The-Buckley-Plano

PLANO, TEXAS — Dallas-based Rosewood Property Co. has begun leasing The Buckley, a 338-unit apartment community in Plano. The Buckley is the sister property of The Ludlow, both of which are located within the 156-acre Heritage Creekside master-planned development. The Buckley feature studio, one-, two- and three-bedroom apartments and amenities such as a pool, multiple lounge areas, a club and card room, fitness center, coworking areas and a dog park. MetLife Investment Management was the equity partner for the project, and Broadway Bank provided construction financing. Provident General Contractors constructed the property, which was designed by Hensley, Lamkin, Rachel Inc. Rents start at $1,700 per month for a studio apartment.

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DENTON, TEXAS — Arvato USA has signed a 269,600-square-foot industrial lease in the North Texas city of Denton. The Germany-based third-party logistics provider will occupy the entirety of Denton Logistics Center, a newly constructed building that features 32-foot clear heights. James Ewing with Colliers represented the tenant in the lease negotiations. Andrew Gilbert and Keaton Brice of Holt Lunsford Commercial represented the landlord, Brookfield Properties.

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LEAGUE CITY, TEXAS — Berkadia has brokered the sale of Grand Living at Tuscan Lakes, a 186-unit seniors housing property in League City, about 30 miles southeast of Houston. Opened in 2023, the property offers independent living, assisted living and memory care residences. Amenities include a pool, theater, spa, fitness center, library and a lounge. Town Land and Arcole Partners acquired the property from Bow River Capital and Ryan Cos. Ross Sanders, Dave Fasano, Cody Tremper and Mike Garbers of Berkadia brokered the deal.

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AUSTIN, TEXAS — Creative Action, a youth arts education organization, will open a 25,000-square-foot headquarters at Mueller, a 700-acre mixed-use district in North Austin that is a redevelopment of a former municipal airport. The space will be housed across two levels within a two-story building and will include 15,000 square feet for performing arts and communal gathering functions. The other 10,000 square feet will house programming and administrative space.

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505-Summit-Jersey-City

JERSEY CITY, N.J. — Locally based developer Panepinto Properties has begun leasing 505 Summit, a 53-story apartment tower in the Journal Square area of Jersey City. The building offers 605 units in studio, one-, two- and three-bedroom floor plans. The property also features 4,000 square feet of street-level retail space, a landscaped public plaza, parking garage and 304 bicycle storage spaces. Residential amenities include an outdoor terrace with a pool, grilling stations, a resident lounge, coworking spaces, sports simulator and a fitness center. Pacific Life financed construction of the project, which began in the third quarter of 2023 and topped out last summer. Rents start at $3,350 per month for a studio apartment.

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NEW YORK CITY — Local investment firm Jonathan Rose Cos. has purchased The Caroline Apartments, a 126-unit affordable housing building in the Inwood section of Upper Manhattan, for $53 million. The building was constructed in 1980 and last renovated in 2008. Income restrictions were not disclosed. The new ownership plans to invest nearly $20 million in capital improvements to the property, including upgrades to building systems and unit interiors, enhancements to the community center and energy-efficiency upgrades. Jonathan Rose Cos. also plans to bring in a full-time resident services coordinator. Th seller was Related Cos.

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PISCATAWAY, N.J. — IDI Logistics has broken ground on a 154,387-square-foot industrial project in the Northern New Jersey community of Piscataway. The building at 1551 S. Washington Ave. will feature a rear-load configuration, clear height of 40 feet, 24 dock doors, two drive-in doors, 130-foot truck court depths and parking for 144 cars and 20 trailers. CBRE is marketing the building for lease. A tentative completion date was not announced.

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PRINCETON, N.J. — TRAC Intermodal has signed a 31,000-square-foot office lease in Princeton. The provider of logistics services is taking space on the third floor of the building at 600 College Road, which is part of the Princeton Point campus. Todd Elfand and Kevin Carton of Cushman & Wakefield represented the landlord, Nuveen Real Estate, in the lease negotiations. The tenant representative was not disclosed.

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1201-Sycamore

WASHINGTON, D.C. — Berkadia has secured $37.6 million in C-PACE (Commercial Property-Assessed Clean Energy) financing for 1201 Sycamore, a trophy outpatient medical and community services facility located in Washington, D.C.’s Congress Heights neighborhood. The 117,075-square-foot medical facility was completed in 2023 and is leased to firms including Whitman-Walker Health and Whitman-Walker Clinic.  J Street Cos. manages the property. Brian Gould, Natalie Hershey, Patrick McGlohn, Patrick Cunningham and Hunter Wood of Berkadia arranged the 28-year loan through Nuveen Green Capital on behalf of the locally based borrowers, Redbrick LMD and Gragg Cardona Souadi. The financing supports the property’s energy efficiency, water conservation and resiliency components. DC Green Bank is the administrator of the DC PACE program.

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vonore-tennessee-facility

VONORE, TENN. — Brennan Investment Group has acquired a 202,000-square-foot manufacturing facility located in the East Tennessee city of Vonore, about 35 miles south of Knoxville. The seller and sales price were not disclosed. The facility is fully leased to Commercial Vehicle Group (CVG), a global manufacturer of commercial vehicle systems, under a new 20-year absolute net lease. The facility is one of two seating manufacturing plants operated by CVG in the United States. Situated on roughly 42 acres, the property offers access to I-75, I-40, McGhee Tyson Airport and the Port of Tellico.

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