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Boardwalk-Square-Katy
DevelopmentMultifamilyTexas

Sueba USA Completes 353-Unit Apartment Community in Katy, Texas

by Taylor Williams

KATY, TEXAS — Local developer Sueba USA has completed Boardwalk Square, a 353-unit apartment community located west of Houston in Katy. The midrise building features 20 open-concept floor plans including studio, one-, two- and three-bedroom layouts. Units range in size from 496 to 2,088 square feet and feature quartz countertops, stainless steel appliances, full-size washers and dryers and walk-in closets. Amenities include a CrossFit-inspired athletic club, recovery room with dry sauna and cold plunge, pool with tanning ledges and poolside cabanas, pet spa, catering kitchen and a coffee bar. Rents start at $1,265 per month for a studio apartment. Construction began in spring 2024.

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AcquisitionsRetailTexas

NewQuest Breaks Ground on 163,456 SF Retail Project in Northwest Houston

by Taylor Williams

HOUSTON — NewQuest has broken ground on a 163,456-square-foot retail project in northwest Houston. The project will feature two junior anchor spaces within The Grand at 249, the local developer’s $90 million project located at the interchange of the Grand Parkway and the Tomball Tollway. The spaces, which are expected to be available for occupancy by mid-2027, are preleased to Dick’s Sporting Goods, Ross Dress for Less, Burlington, Dollar Tree, Cavender’s, Petco, Sephora, Bath & Body Works and Milano’s Nails.

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IndustrialLeasing ActivityLee & AssociatesTexas

Lee & Associates Negotiates 78,272 SF Industrial Lease in North Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Lee & Associates has negotiated a 78,272-square-foot industrial lease in North Fort Worth. The tenant is Wistron Corp., a provider of high-tech communications products and services, and the space is located within Building H at 35 Eagle Center. Trey Fricke and Reid Bassinger of Lee & Associates represented the tenant in the lease negotiations. Bob Scully and Steve Trese of CBRE represented the landlord, an entity doing business as Alpha Industrial Properties.

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AcquisitionsHospitalityTexas

Marcus & Millichap Brokers Sale of 49-Room Hotel in Clarendon, Texas

by Taylor Williams

CLARENDON, TEXAS — Marcus & Millichap has brokered the sale of a 49-room hotel in the West Texas city of Clarendon. Built on 2.4 acres in 2004, the hotel is operated under the Best Western Plus brand and offers amenities such as an indoor pool, business center, fitness center and meeting space. Gordon Allred and Chris Gomes of Marcus & Millichap represented the seller in the transaction and procured the buyer.

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DevelopmentIndustrialMidwestOhio

Scannell Breaks Ground on 1.2 MSF Spec Industrial Building Near Columbus, Ohio

by Kristin Harlow

COMMERCIAL POINT, OHIO — Scannell Properties has broken ground on the first phase of a logistics park in Commercial Point, a southern suburb of Columbus. The 1.2 million-square-foot speculative building will feature a clear height of 40 feet, 60 dock doors and four drive-in doors. The development marks Scannell’s ninth in the central Ohio region. Completion is slated for April 2027. Joel Yakovac of Colliers is handling leasing.

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AcquisitionsMidwestOfficeWisconsin

SRS Real Estate Brokers $39.1M Sale of Office Property Leased to University of Wisconsin Health

by Kristin Harlow

MIDDLETON, WIS. — SRS Real Estate Partners has brokered the $39.1 million sale of a four-story, 197,860-square-foot office property in Middleton. A tenant since 2008, University of Wisconsin Health Administrative Services occupies the entire property and recently signed a new 20-year lease. John Redfield and John Battle of Lee & Associates represented the seller, a California-based private owner. The buyer was ASG Equities.

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Tides-McDowell-Phoenix-AZ
AcquisitionsArizonaMultifamilyWestern

Tides Equites Sells Apartment Complex in Phoenix for $41M

by Amy Works

PHOENIX — Tides Equities has sold Tides on McDowell, a multifamily community located at 4620 W. McDowell Road in Phoenix, to Houston-based Nitya Capital for $41 million. Jesse Hudson, Logan Baca and Chris Michl of Northmarq’s Phoenix office represented the Los Angeles-based seller. Built in 1985 on 13 acres, Tides on McDowell features 27 two-story buildings with studio, one- and two-bedroom floor plans. The property features a mix of renovated, partially upgraded and original-condition units. Amenities include a pool, soccer field, playground, leasing office, fitness center, outdoor grilling area, clubhouse, laundry facilities and gated access.

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AcquisitionsMidwestRetailWisconsin

Marcus & Millichap Arranges $5.3M Sale of Retail Property in Sun Prairie, Wisconsin

by Kristin Harlow

SUN PRAIRIE, WIS. — Marcus & Millichap has brokered the $5.3 million sale of a net-leased childcare facility occupied by Willowbrae Academy in Sun Prairie. The newly built property totals 11,790 square feet. There are more than 14 years remaining on the lease. Dominic Sulo and Todd Lindblom of Marcus & Millichap represented the seller, a Chicago-based developer. Sulo and Sam Malato procured the locally based 1031 exchange buyer.

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KansasLeasing ActivityMidwestRetail

Woodhouse Spa to Open 6,840 SF Location at Northridge Plaza in Olathe, Kansas

by Kristin Harlow

OLATHE, KAN. — Woodhouse Spa is set to open a new location at Northridge Plaza in Olathe. The day spa will occupy a 6,840-square-foot standalone building within the center for its second location in the Kansas City market. Northridge Plaza is home to Dick’s Sporting Goods, Aldi, Ross Dress for Less, U.S. Bank, Panera Bread, Chipotle and Hallmark Gold Crown. A local husband-and-wife franchise team will own and operate the Olathe Woodhouse Spa location. The spa is expected to open in September. Chad LaSala of NAI Heartland represented the tenant in the lease. Erin Johnston of Copaken Brooks represented the landlord on an internal basis.

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17840-N-Black-Canyon-Hwy-Phoenix-AZ
AcquisitionsArizonaMultifamilyWestern

Rise48 Equity Acquires 108-Unit Multifamily Property in North Phoenix

by Amy Works

PHOENIX — Rise48 Equity has acquired a 108-unit multifamily property located at 17840 N. Black Canyon Highway in North Phoenix. The company will rebrand the asset as Rise at the Northern. Terms of the transaction were not released. Rise48 plans to implement a light value-add renovation strategy to the property, which was originally built in 1983. The improvement program includes the implementation of a bulk cable program, valet trash service, installation of carport parking and operational efficiencies across property management. The initiatives are projected to increase rents by approximately $89 per unit though a combined amenity free, while maintaining affordability relative to the surrounding market, according to Rise48.

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