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AcquisitionsIndustrialTexas

JLL Negotiates Sale of 838,446 SF Industrial Facility in Katy, Texas

by Taylor Williams

KATY, TEXAS — JLL has negotiated the sale of an 838,446-square-foot industrial facility in the western Houston suburb of Katy. The building, which was constructed in 2024 as a build-to-suit for Builders FirstSource, represents Phase I of a larger development known as Grand Central West. Building features include 40-foot clear heights, 136 dock doors, 20 loading ramps, three drive-in doors, 185-foot truck court depths, 31,065 square feet of office space and parking for 500 cars and 134 trailers. Trent Agnew, Charles Strauss, Lance Young, Clay Anderson and Dawson Hastings of JLL represented the seller, a partnership between Pinpoint Commercial and Senterra, in the transaction. Goldman Sachs purchased the building for an undisclosed price.

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Hub-202-Phoenix-AZ
AcquisitionsArizonaIndustrialWestern

Partnership Purchases 1.3 MSF Industrial Property in Phoenix

by Amy Works

PHOENIX — A joint venture between Machine Investment Group, Miramar Capital and Axonic Capital has acquired The Hub @ 202, a 1.3-million-square-foot industrial park in Phoenix. Terms of the transaction were not disclosed. Situated in the city’s Southeast Valley submarket, The Hub @ 202 features 10 buildings ranging in size from 65,000 square feet to 270,000 square feet. The partnership plans to invest additional capital into the property to create move-in ready industrial suites designed to meet the market demand and attract a variety of tenants. Will Strong, Molly Miller, Jack Stamets, Michael Matchett and Madeline Warren of Cushman & Wakefield coordinated the sale along with leasing advisors Ken McQueen, Chris McClurg, Blake Peters and Jack Sim of Lee & Associates. Cushman & Wakefield’s Equity, Debt & Structured Finance team, including Brian Share, Rob Rubano, Max Schafer and Joseph Lieske, arranged financing on behalf of the new ownership.

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The-Hawthorne-Riverside-CA
AcquisitionsCaliforniaMultifamilyWestern

PCCP, Alliance Residential Buy 184-Unit Multifamily Community in Riverside, California

by Amy Works

RIVERSIDE, CALIF. — A joint venture between PCCP Multifamily and Alliance Residential Co. has purchased The Hawthorne, an apartment property located at 9170 Indiana Ave. in Riverside, for $65.3 million. Details of the transaction were not released. Situated on 6.7 acres, The Hawthorne consists of 16 two- and three-story residential buildings and a single-story amenities building. Delivered in 2023, the property features 184 one-, two- and three-bedroom floor plans, averaging 873 square feet. Units offer quartz countertops, kitchen islands, stainless steel appliances with gas ranges, in-unit washers/dryers, vinyl plank flooring and private patios or balconies. Community amenities include a pool and spa with cabanas, multiple landscaped courtyards with barbecues and fire pits, a clubhouse with entertainment areas and a fitness center. Additionally, the property features 330 parking spaces, including 183 private garages.

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AcquisitionsArizonaRetailWestern

SimonCRE Acquires 10 Acres to Develop Prasada East Retail Project in Surprise, Arizona

by Amy Works

SURPRISE, ARIZ. — SimonCRE has acquired approximately 10 acres of land to develop Prasada East, a 98,000-square-foot open-air center located in Surprise, about 30 miles northwest of Phoenix. SimonCRE plans to break ground on the project later this spring. Prasada East will complement the existing Village at Prasada and Prasada North developments, which comprise more than 1 million square feet. The initial phase of Prasada East will feature a new 35,100-square-foot Whole Foods Market as the property’s anchor, as well as additional box spaces, multiple restaurant pads and shop space. Additional confirmed tenants include Barnes & Noble (20,000 square feet), Paddy O’ Furniture (12,000 square feet), Flower Child (4,000 square feet) and Hammer and Nails (2,200 square feet).

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DevelopmentHospitalityTexas

Extended Stay America Opens 104-Room Hotel in Longview, Texas

by Taylor Williams

LONGVIEW, TEXAS — Extended Stay America has opened a 104-room hotel in Longview, about 110 miles east of Dallas. Extended Stay America Select Suites – Longview features suites with fully equipped kitchens, including full-size refrigerators, stovetop microwaves and cookware, as well as dedicated work and dining areas. Amenities include a pool, outdoor grilling and dining stations and onsite laundry facilities. CenterPoint Hospitality owns the hotel.

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DevelopmentMultifamilyTexas

StreetLights Begins Leasing 68-Unit Townhome Complex in Arlington

by Taylor Williams

ARLINGTON, TEXAS — StreetLights Residential has begun leasing The Linden Townhomes, a 68-unit complex in Arlington. The property is located within the 2,000-acre Viridian master-planned development, and units come in two-bedroom formats and offer private yards and two-car garages. Amenities include a central pool and green space, as well as a library, coworking space and a clubhouse with a game room and event kitchen. Rents start at $3,475 per month.

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AcquisitionsNet LeaseRetailTexas

Marcus & Millichap Brokers Sale of 10,640 SF Retail Building in Kyle, Texas

by Taylor Williams

KYLE, TEXAS — Marcus & Millichap has brokered the sale of a 10,640-square-foot retail building in Kyle, a southern suburb of Austin, that is net leased to Dollar General. The building sits on a one-acre site adjacent to Lehman High School. Darpan Patel, Dan Yozwiak, Paul Bouldin and represented the buyer, an undisclosed 1031 exchange investor, in the transaction. The seller was also not disclosed. Tim Speck of Marcus & Millichap assisted in closing the deal as the broker of record.

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Wallace-Campus-Poughkeepsie
Affordable HousingDevelopmentMultifamilyNew YorkNortheast

Partnership Breaks Ground on $147M Affordable Housing Redevelopment in Poughkeepsie, New York

by Taylor Williams

POUGHKEEPSIE, N.Y. — A partnership between Mega Development Group, Ametrine Group and social services provider Mental Health America of Dutchess County has broken ground on Wallace Campus, a $147 million affordable housing redevelopment project in Poughkeepsie, located north of New York City. An adaptive reuse of the site of the former Wallace Department Store, the property will offer 187 units in studio, one-, two- and three-bedroom floor plans that will be reserved for households earning 80 percent or less of the area median income. In addition, the development will have 30 supportive housing units and 22,000 square feet of commercial space. Social services will include home health care management, community education and family support and advocacy. The amenity package will comprise a game room, fitness center, movie screening room, coworking space and a study hall. Financing for the project is supported by New York State Homes & Community Renewal’s federal tax credit program, which is expected to generate $46 million in equity, as well as a range of other public subsidies.

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1099-Hendricks-Causeway-Ridgefield-New-Jersey
AcquisitionsIndustrialNew JerseyNortheastSelf-Storage

Marcus & Millichap Brokers Sale of Self-Storage Development Site in Ridgefield, New Jersey

by Taylor Williams

RIDGEFIELD, N.J. ­— Marcus & Millichap has brokered the sale of a self-storage development site in the Northern New Jersey community of Ridgefield. The site at 1099 Hendricks Causeway is fully entitled and permitted, and the facility is planned to feature more than 73,000 net rentable square feet of space across approximately 1,200 climate-controlled units. Nathan Coe, Gabriel Coe and Brett Hatcher of Marcus & Millichap represented the seller, local owner-operator StorageBlue, in the transaction. The team also procured the buyer, Safely Store. Jim McGuckin of Marcus & Millichap assisted in closing the deal as the broker of record.

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