Wednesday, July 29, 2026
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6501-Legacy-Drive-Plano
DevelopmentMultifamilyTexas

StreetLights Residential Underway on 22-Story Apartment Building in Plano

by Taylor Williams

PLANO, TEXAS — StreetLights Residential is underway on construction of a 22-story apartment building at 6501 Legacy Drive in Plano. The site spans 2.7 acres within the former J.C. Penney headquarters campus, and the development will have 261 one-, two- and three-bedroom units that will range in size from 682 to 2,843 square feet. The development will also feature several three-bedroom townhomes with an average size of about 3,300 square feet. Amenities will include a three-tiered pool with private cabanas, sky lounge, golf simulator, library, fitness center and a pet park. Construction began in June and is expected to be complete in early 2029.

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AcquisitionsOfficeTexas

Shorenstein Investment Advisers Acquires 273,000 SF Office Property in Plano

by Taylor Williams

PLANO, TEXAS — San Francisco-based Shorenstein Investment Advisers has acquired The Tennyson, a 273,000-square-foot office property located northeast of Dallas in Plano. The two-building, 12-acre complex, which is located within the city’s Legacy submarket, was originally developed in 2012 as a build-to-suit for Swedish telecommunications company Ericsson. The Tennyson was also recently renovated and was fully leased at the time of sale. The seller and sales price were not disclosed.

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AcquisitionsHealthcareTexas

Marcus & Millichap Brokers Sale of 124,000 SF Healthcare Property in Houston

by Taylor Williams

HOUSTON — Marcus & Millichap has brokered the sale of a 124,000-square-foot healthcare property in the Spring Branch area of Houston. Originally constructed on a 4.3-acre site at 1615 Hillendahl Blvd. in 1965, the property formerly served as a 198-unit skilled nursing facility. Rod Llanos of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.

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AcquisitionsRetailTexas

Matthews Negotiates Sale of 23,957 SF Retail Building in Bridgeport, Texas 

by Taylor Williams

BRIDGEPORT, TEXAS — Nashville-based brokerage firm Matthews has negotiated the sale of a 23,957-square-foot retail building, in Bridgeport, located northwest of Fort Worth. Tractor Supply Co. occupies the recently constructed building under a 15-year lease. Chad Kurz of Matthews represented the seller in the transaction, while Kevin McKenna, also with Matthews, represented the buyer, a California-based investor completing a 1031 exchange.

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Lehigh-Valley-Trade-Center
IndustrialLeasing ActivityNortheastPennsylvania

ShipBob Signs 301,826 SF Industrial Lease in Bethlehem, Pennsylvania

by Taylor Williams

BETHLEHEM, PA. — ShipBob has signed a 301,826-square-foot industrial lease in the Lehigh Valley city of Bethlehem. The provider of fulfillment services for the e-commerce industry is taking the entirety of the space at Building E at Lehigh Valley Trade Center, which was developed as part of the 171-acre park’s third phase. Stream Realty Partners represented ShipBob in the lease negotiations. KBC Advisors represented the landlord, a partnership between Trammell Crow Co. and Clarion Partners. The deal brings the third phase of Lehigh Valley Trade Center to full occupancy.

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AcquisitionsCivicNew York

St. John’s University Sells Staten Island Campus to Wagner College

by Taylor Williams

NEW YORK CITY — St. John’s University has sold its Staten Island Campus to Wagner College, whose main campus is located about a quarter of a mile away. The sales price was not disclosed, but the asking price was $35 million. The campus was originally the home of Notre Dame College, an independent women’s college that was established in the 1930s and was consolidated with St. John’s University in 1971. St. John’s completed a planned, two-year phase-out of academic operations at the campus in 2024. Arthur Mirante, David Carlos, Michael Bertini and Mark Todrys of Savills brokered the deal.

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Affordable HousingLoansMassachusettsMultifamilyNortheast

MassHousing Provides $26.4M in Financing for Boston Affordable Housing Property

by Taylor Williams

BOSTON — MassHousing has provided $26.4 million in financing for Beacon House, a 135-unit affordable housing property in Boston’s Beacon Hill neighborhood. The eight-story building was converted from a hotel to residential use in 1983. Of the 135 units, 117 are rentals that are subject to a range of income restrictions, and 18 units are rented through a commercial lease to nearby Massachusetts General Hospital for use by patients and their family members. The borrower, nonprofit organization Rogerson Communities, will use the proceeds to refinance existing debt, fund capital improvements and preserve the property’s affordability status.

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Affordable HousingDevelopmentMultifamilyNortheastPennsylvaniaSeniors Housing

Pennrose, WORC Complete 55-Unit Affordable Seniors Housing Redevelopment in Philadelphia

by Taylor Williams

PHILADELPHIA — A partnership between owner-operator Pennrose and the Wynnefield Overbrook Revitalization Corp. (WORC) has completed Good Shepherd, a 55-unit affordable seniors housing complex in Philadelphia’s Overbrook area that is a redevelopment of the former Good Shepherd Presbyterian Church, which was destroyed by fire in 2016. Good Shepherd’s one-bedroom units have an average size of 605 square feet and are reserved for renters age 62 and above who earn between 20 and 60 percent of the area median income. Amenities include a fitness center, multi-purpose room and flex space, and residents also have access to social, health and other educational support programs and services.

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DevelopmentIllinoisLoansMidwestMultifamily

Associated Bank Provides $28.3M Loan for Development of Chicago Apartment Building

by Kristin Harlow

CHICAGO — Associated Bank has provided a $28.3 million loan to a joint venture between North Park Ventures and SNS Realty Group for the development of a transit-oriented apartment property on North Sheffield Avenue in Chicago. The loan included funds for the acquisition of the former Tortenson Glass Co., which consists of nearly 30,000 square feet of urban infill land. The five-story, 99-unit apartment building will offer 84 market-rate units and 15 affordable housing units. There will be four studios averaging 500 square feet, 46 one-bedroom units averaging 750 square feet and 49 two-bedroom units averaging 1,150 square feet. Amenities will include a clubroom with coworking space, a wellness center with a sauna, a rooftop deck with a dog run and a bike room.  There will be parking for 25 cars at the back of the site. Demolition of the existing structures will begin shortly, with completion of the new building planned for 2027. Daniel Barrins of Associated Bank managed the loan arrangements and closing.

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AcquisitionsIndianaMidwestMultifamily

Colliers Arranges Sale of 360-Unit Multifamily Community in Merrillville, Indiana

by Kristin Harlow

MERRILLVILLE, IND. — Colliers has arranged the sale of The Ridge Apartments in Merrillville within Northwest Indiana. Bryce Wetzel, Tyler Hague, Lauren Stoliar and Ryan Roegner of Colliers represented the owner, Parkmont Group, a real estate investment and operating firm based in New York. Originally developed between 1970 and 1981 and renovated in 2024, the property features a variety of one- and two-bedroom floor plans. Amenities include a sundeck, landscaped courtyards and onsite laundry facilities. Morgan Properties was the buyer.

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