NEW YORK CITY — Sierra, an AI-driven customer service platform, has signed a 14,563-square-foot, full-floor office lease at 375 West Broadway in Manhattan’s SoHo neighborhood. The deal keeps the 76,605-square-foot building, which was originally constructed in 1863 and is currently being renovated, at full occupancy. Brett Harvey of Newmark represented the landlord, Manova Partners, in the lease negotiations. Jeff Fischer and Connor Krup of CBRE represented Sierra.
PHOENIX — JLL has arranged the sale of Sheraton Phoenix Downtown, a 1,003-room convention center hotel in Phoenix. Built in 2008 and enhanced through a $45 million renovation in 2020, the 33-story property features 112,000 square feet of flexible meeting and event space, including the 27,000-square-foot Phoenix Ballroom and the 14,000-square-foot Valley Of the Sun Ballroom. The conference center offers 26 total meeting rooms, with the largest space accommodating up to 2,510 guests and 20 breakout rooms for concurrent sessions. The 806,481-square-foot property features guest rooms on floors five through 33; three food-and-beverage concepts, including Carcara, &More by Sheraton and Breeze Bar & Grill; a 4,300-square-foot fitness center; an outdoor pool; Sheraton Club Lounge and comprehensive business services. Matt Riley led the JLL Hotels & Hospitality team that represented the undisclosed seller in the transaction.
PHOENIX — High Street Residential (HSR), the residential subsidiary of Trammell Crow Co., and joint venture partners Mar-Gulf Management and MDI Capital, the international real estate subsidiaries of Kuwait Financial Centre, have broken ground on Union Park Residences in Phoenix’s Norterra master-planned development. Slated for completion by fourth-quarter 2027, the four-story Union Park Residences will feature 308 studio, one- and two-bedroom apartments, ranging from 600 square feet to 1,400 square feet. Apartments will feature large kitchen islands with quartz countertops, tile backsplashes, stainless steel appliances and tiled showers and surrounds. Situated on 8 acres at 2215 W. Union St., the community will offer a pool, spa, fitness center with a sauna and cold plunge, a coworking area, pet spa, dog run and game lounge. Ironmark Builders is serving as general contractor, and ESG Architects designed the project.
WEST VALLEY CITY, UTAH — ViaWest Group and GEM Realty Capital have received $43.3 million in construction financing for the development of 5400 South, a previously announced three-building warehouse project in West Valley City. Kevin MacKenzie, Jason Carlos, Jeff Pew and Lilley Kroll of JLL secured the floating-rate loan for the borrower. Situated on 28.7 acres at 7301 W. 5400 S, the 470,334-square-foot development will feature clear heights ranging from 32 feet to 36 feet across the buildings. In total, 5400 South will offer 110 dock-high doors, 18 grade-level doors, 54 trailer parking spaces and 443 automobile parking spaces. The buildings will offer flexible space configurations ranging from 19,500 square feet to 218,499 square feet. Construction commenced in November, with completion slated for December 2026.
LAS VEGAS — Northcap Commercial has arranged the sale of Westland Orland Apartments, a multifamily property located at 109 Orland St. in Las Vegas. The asset traded for $5.4 million, or $100,000 per unit. Built in 1969, Westland Orland Apartments offers 54 units. Devin Lee, Robin Willett and Jerad Roberts of Northcap represented the undisclosed seller and procured the undisclosed buyer in the transaction.
YUCAIPA, CALIF. — Hanley Investment Group Real Estate Advisors has arranged the pre-sale of a newly constructed single-tenant retail property located at 11361 Bryant St. in Yucaipa. Evergreen Devco sold the absolute triple-net ground lease to a San Luis Obispo County, Calif., buyer for $3.6 million. Slated to open in early to mid-December, 7-Eleven will occupy the 4,088-square-foot convenience store and fuel station under a 15-year corporate lease. Bill Asher and Jeff Lefko of Hanley Investment Group, in conjunction with Jeff Stanley of Lee & Associates, represented Evergreen Devco, while John Hans of Colliers represented the buyer in the deal.
ATLANTA — KeyBank Community Development Lending and Investment (CDLI) has arranged $72.8 million in financing for a redevelopment phase of Atlanta Civic Center. The borrower, Civic Center Partners, is converting a portion of the property into a 148-unit affordable seniors housing community. Civic Center Partners — a joint venture between The Michaels Organization, Sophy Cos. and Republic Properties — is partnering with Atlanta Housing, which owns the Atlanta Civic Center, on the project. KeyBank CDLI provided a $39.1 million taxable construction loan and $25.2 million in federal low-income housing tax credit (LIHTC) equity. Key Commercial Mortgage Group originated an $8.5 million Fannie Mae MTEB permanent loan, and KeyBanc Capital Markets underwrote two series of tax-exempt bonds totaling $30 million. Upon completion, the senior living community will feature 30 units reserved for residents earning at or below 50 percent of the area median income (AMI); the remaining 118 units will be reserved for seniors earning at or below 60 percent of AMI. All units will be reserved for residents age 55 and older. Amenities at the community will include a lobby, package room, social service office, arts-and-crafts room, fitness center, community room, computer lounge and laundry room. Additionally, 500 square feet of …
RESTON, VA. — Comstock Holding Cos. Inc. has inked two office leases with Booz Allen Hamilton at two adjacent office towers within Reston Station, a 90-acre, transit-oriented mixed-use development in the Washington, D.C., suburb of Reston. Reston Station will now be the corporate headquarters for the global technology and consulting firm, which will fully occupy the nearly finished office building at 1870 Reston Row Plaza and multiple floors within the adjacent office building at 1800 Reston Row Plaza, which was recently delivered. The two leases combine for more than 310,000 square feet and include the enclosed bridge that will connect the two office towers on the seventh floor. The design team for 1800 and 1870 Reston Row Plaza included HKS Architects and Michael Graves Architecture. The two LEED Silver office towers are situated in The Row at Reston Station, the second of five planned phases of Comstock’s Reston Station development, which also houses offices for Google, ICF International, CARFAX, Spotify, Qualtrics International and Rolls-Royce of America, among other companies.
DURHAM, N.C. — Durhamite, a real estate investment and management firm, has purchased Nottingham Hall, a 105,830-square-foot office building located at 4505 Emperor Blvd. in Durham. The new owner plans to make extensive upgrades to the four-story property, including installing speculative suites. Daniel Flynn, Ryan Clutter and C.J. Liuzzo of JLL represented the undisclosed seller in the transaction. The sales price was also not disclosed. Durhamite has retained Dennis Hurley and Taylor McCuiston of JLL to lease Nottingham Hall, which is situated within the Imperial Center mixed-use business park.
AURORA, ILL. — Marquette Cos. has acquired Aurora at Summerfield, a 368-unit multifamily property in the western Chicago suburb of Aurora. Marquette Management will serve as property manager for the community, which is currently 97 percent occupied. Located at 1847 Clubhouse Drive, just off Ogden Avenue, Aurora at Summerfield comprises 26 two- and three-story buildings with a mix of one-, two- and three-bedroom units. Two-story lofted townhomes comprise 24 percent of the units. Amenities include a clubhouse with a business center, fitness center and resident lounge. Outdoor spaces include a pool, grilling stations and a playground.