GAINESVILLE, TEXAS — A partnership between B-29 Investments and Hughes Commercial has broken ground on Camp Howze Industrial Rail Park, a 489-acre industrial park in Gainesville, located north of the metroplex in Cooke County. Located along I-35 and U.S. Highway 82, the master-planned development could ultimately feature as much as 7 million square feet of industrial space across 14 buildings. Camp Howze Industrial Rail Park will be able to accommodate users with requirements from 50,000 to 1 million square feet and will also offer build-to-suit facilities for lease or purchase. BNSF Railway is constructing a rail connection that will provide direct service to the park, with service expected to commence in the second quarter of 2027. Stream Realty Partners is leasing the development.
ARLINGTON, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Flintridge, a 188-unit, garden-style apartment complex in Arlington. Built in 1979, Flintridge offers one- and two-bedroom units with an average size of 743 square feet and amenities such as a pool, clubhouse, business center and onsite laundry facilities. Michael Ware, Drew Kile, Joey Tumminello and William Hubbard of IPA represented the seller, an undisclosed lender, in the transaction and procured the buyer, Apogee Capital.
HOUSTON — New Hope Housing has completed NHH Avenue C, an affordable seniors housing project in Houston’s Magnolia Park/East End neighborhood. The number of units in the age-restricted (55-plus) complex was not disclosed, but residences come in one-, two- and three-bedroom floor plans. Amenities include a standalone community building, lounges and dining areas, a theater room and onsite resident programming services.
WALLER COUNTY, TEXAS — Clay Development & Construction Inc. has broken ground on a 31,800-square-foot speculative industrial project in Waller County, located northwest of Houston. The building will be situated on a 2.4-acre site within Pederson West Business Park and will feature 120-foot truck court depths, 23 parking spaces and build-to-suit office space. Completion is slated for early next year.
JERSEY CITY, N.J. — CBRE has arranged a $109.5 million permanent loan for 425 Summit, a 27-story apartment building in Jersey City’s Journal Square neighborhood. Completed in 2024, 425 Summit houses 390 units in studio, one-, two- and three-bedroom floor plans, as well as ground-floor retail space. Matthew Pizzolato, Jason Gaccione, Jake Salkovitz, Shawn Rosenthal, Josh Stein and Carlos Silva of CBRE arranged the loan through Northwestern Mutual on behalf of the owner, a joint venture between Spitzer Enterprises and Arden Group.
WEST CHESTER, PA. — Charter Senior Living has broken ground on a 162-unit project in West Chester, located roughly 30 miles west of Philadelphia. Charter Senior Living of West Chester will offer independent living, assisted living and memory care residences. Charter is developing the project in partnership with Paradise Management. Completion is scheduled for late next year.
GREAT BARRINGTON, MASS. — Regional brokerage firm Northeast Private Client Group (NEPCG) has negotiated the sale of a 66-unit apartment building in Great Barrington, located in western Masschusetts. Beech Tree Apartments comprises eight buildings on a 4.5-acre site. Daniel Scherban and Joseph Scherban of NEPCG represented the seller, Rowin Capital, in the transaction and procured the buyer, the Alander Group.
NEW YORK CITY — Marcus & Millichap has signed an office lease extension and expansion in Midtown Manhattan. The firm now occupies roughly 41,000 square feet at 260 Madison Avenue, a 22-story building. Evan Fiddle of CBRE represented Marcus & Millichap in the lease negotiations. Paul Amrich, Neil King, Meghan Allen and Kelly Tipton, also with CBRE, along with internal agent Samuel Salberg, represented the landlord, AmTrust RE.
BROWNSBURG, IND. — Wafra Inc., a New York-based alternative investment firm, has acquired Brownsburg Logistics Park Portfolio, a collection of three industrial buildings totaling 899,080 square feet in Brownsburg. Funds advised by Wafra are acquiring the assets from a venture between Scannell Properties and Manulife Investment Management. Completed in 2022 and 2023, the buildings are home to seven tenants. The portfolio offers direct access to I-74 and is located about 12 miles from the Indianapolis International Airport.
CHICAGO — Skender has completed the 83,000-square-foot build-out of Harrison Street Asset Management’s headquarters at The Fulton, an office property located at 919 W. Fulton Market in Chicago. The real estate and infrastructure investment management firm is relocating from its prior location at 444 W. Lake St. Harrison Street’s three-floor build-out features an atrium stair, dedicated executive suite, a mix of private offices and open work areas as well as large terrace spaces. A central café is equipped with a full bar and built-in audiovisual system to accommodate meetings. SCB was the architect. Skender also served as the base building general contractor for the 535,000-square-foot development, which wrapped construction in April. In addition to office tenants, the property is home to Gibson’s Steakhouse and Equinox Fitness.
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