DALLAS — Broe Real Estate Group has acquired Maple Terrace Residences, a 22-story, 345-unit apartment tower in Uptown Dallas. A partnership between Houston-based Hines, Mitsui Fudosan American and McNair Interests developed the building, which opened in 2024. Maple Terrace Residences is part of a larger mixed-use development that is an adaptive reuse project of historic buildings along Maple Avenue. Units come in studio, one-, and two-bedroom floor plans and include penthouse offerings. Amenities include a pool, library and lounge, fitness center, clubroom with a kitchen, media and gaming lounge, a secret garden, dog park and concierge services. JLL brokered the sale of the property. The sales price was not disclosed.
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HOUSTON — A joint venture between two Houston-based groups, Transwestern Investments and Hanover Co., will develop Rankin 59, a 749,016-square-foot industrial project in North Houston. The site is located at the corner of Rankin Road and U.S. Highway 59/I-69, adjacent to George Bush Intercontinental Airport. The development will consist of a single cross-dock facility with 40-foot clear heights, 130- to 185-foot truck court depths, 106 dock doors and parking for 429 cars and 140 trailers. Construction is expected to begin in January and to last about 12 months.
DALLAS — Granite Properties has sold Factory Six03, a 215,111-square-foot office building in the West End area of Dallas. Granite opened FactorySix03 in 2017 as a redevelopment of a 114-year-old historic building that originally housed the headquarters of the Brown Cracker and Candy Co. and subsequently served as a warehouse, marketplace and movie theater. Today, the building is 78 percent leased, with Sam’s Club and Blue Cross Blue Shield serving as the anchors. Todd Savage, Russell Ingrum, Jared Chua, Kelsey Shebay, Matt Murphy, Cole Sutter and Kiana Nemati of Cushman & Wakefield represented Granite in the transaction. The buyer was Houston-based investment firm The Deal Company (DealCo.)
BOSTON — Breakthrough Properties, which is a joint venture between New York City-based Tishman Speyer and Bellco Capital, has completed the sale of a development site at 232 A St. in South Boston to P&G Gillette. The locally based shaving products company previously announced plans to establish its new Grooming Headquarters & Technical Innovation Center at the site, an initiative valued at roughly $1 billion.Breakthrough originally acquired the 2.4-acre site in 2021 for $80 million and subsequently secured approval for a 325,000-square-foot research and development campus with 1.5 acres of public space, including a waterfront park on the Fort Point Channel. Jonathan Varholak of CBRE led the brokerage team that facilitated the land sale.
DALLAS — Cushman & Wakefield has negotiated two office leases totaling 20,155 square feet at 400 Record St. in downtown Dallas. The deals are for a 13,447-square-foot renewal with Republic Property Group and a 6,708-square-foot new lease with the Dallas Economic Development Corp. Rodney Helm and Matt Schendle of Cushman & Wakefield represented the landlord, Labora, in both sets of lease negotiations. Robert Blount and Hudson Woods of CBRE and Sharon Morrison and Chelby Sanders of Cresa represented the tenants, respectively.
NEW YORK CITY — JLL has arranged a $104 million loan for the refinancing of a portfolio of two multifamily properties totaling 233 units in Manhattan. The portfolio comprises Renoir House, a 151-unit building located at 225 E. 63rd St. on the Upper East Side, and an 82-unit building located at 120-125 Riverside Drive on the Upper West Side. The buildings were originally constructed in 1962 and 1904, respectively. Scott Aiese, Lauren Kaufman, Hall Oster and Alex Staikos of JLL arranged the financing through Citi on behalf of the owner, AYA New York. The portfolio was roughly 97 percent occupied at the time of the loan closing.
YONKERS, N.Y. — CubeSmart will open a 949-unit self-storage facility in Yonkers, located north of New York City. New York-based Cayre Equities is developing the facility at 1060 Nepperhan Ave., and construction has now passed the midpoint and is expected to be complete in the second or third quarter of next year. Miami-based lender 3650 Capital provided a $24 million construction loan for the project that carried a 36-month term with a six-month extension option. David Eyzenberg of Eyzenberg & Co. arranged the loan on behalf of the developer.
MALDEN, MASS. — Marcus & Millichap has brokered the sale of a 717-unit self-storage facility in Malden, located north of Boston. Extra Space Storage operates the facility, which totals 74,795 net rentable square feet and was roughly 91 percent occupied at the time of sale. Nathan Coe, Gabriel Coe, Brett Hatcher and Thomas Shihadeh of Marcus & Millichap represented the seller, Calare Properties, in the transaction and procured the buyer, Hearthfire Holdings. The sale also included a 25,095-square-foot warehouse that is fully leased to Canadian logistics company UniUni and a 3,400-square-foot kiosk.
Helix Electric Breaks Ground on 1.2 MSF Advanced Fabrication Campus in Hollywood, Alabama
by John Nelson
HOLLYWOOD, ALA. — Helix Electric Inc., a national electrical contractor, has broken ground on the first phase of a 1.2 million-square-foot advanced fabrication campus in Hollywood, a northeast Alabama city in Jackson County. Phase I will span 300,000 square feet of modular space and will be complete in 2028. Helix Electric will employ more than 150 people in the first phase and will produce prefabricated electrical components for users in several industries, including data centers, advanced manufacturing, multifamily and commercial real estate.
GBT Realty Acquires 42.5 Acres in Middle Tennessee, Plans 300,000 SF Retail Development
by John Nelson
GALLATIN, TENN. — GBT Realty Corp. has acquired 42.5 acres at the intersection of Green Lea Boulevard and Harris Lane in Gallatin, a city in Middle Tennessee’s Sumner County. The Brentwood, Tenn.-based developer plans to develop The Crossroads at Gallatin, a nearly 300,000-square-foot retail destination, at the site. Additionally, GBT Realty has signed leases with Academy Sports + Outdoors and Sprouts Farmers Market at the center for 55,000 square feet and 23,000 square feet, respectively. More tenants will be announced in the near future, according to GBT Realty, which is planning for construction to begin later this month.
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