SAN MARCOS, TEXAS — BWE has arranged an undisclosed amount of acquisition financing for The Junction, a 488-bed student housing property located near Texas State University in San Marcos. The community offers a mix of two-, three- and four-bedroom units. Amenities include a pool and a fitness center. The borrower, Campus Realty Advisors, will use a portion of the proceeds to fund capital improvements, including the addition of a new clubhouse, leasing center, study areas and community gathering space. Renovations will also include refreshed exterior paint, upgraded HVAC systems and water heater replacement, new property fencing and updates to the community’s security system, signage and landscaping. Chris Carroll and Max Miller of BWE arranged the financing through Byline Bank.
FRISCO, TEXAS — The Bays, in partnership with golf equipment and apparel manufacturer TaylorMade, will open The Bays at Frisco, an 18-acre golf resort that will be located on the northern outskirts of Dallas. The site is located near the PGA of America’s headquarters campus and Omni Hotel. The property will consist of a four-story, 100,000-square-foot golf lab and suites facility, restaurant and bar and a 19-room boutique hotel. The facility will also offer a custom club-fitting experience in which guests can watch their clubs being crafted onsite, as well as a 25,000-square-foot putting green, 12,000-square-foot private membership club and dedicated space for corporate events. Hotel suites will also have their own private hitting bays, and the hotel will offer a rooftop pool. The opening is scheduled for late 2025.
OUSTON — Braun Enterprises has completed the redevelopment of 53 West, a mixed-use property in the city’s Uptown neighborhood that consists of 168,000 square feet of office space and 32,000 square feet of retail space on a four-acre site. The redevelopment began in 2019 and included renovating and painting the exterior façades, remodeling the office interiors and enhancing ground-level storefronts. Braun also upgraded the property’s walkable pathways, lighting, landscaping and outdoor seating areas. Interior enhancements include upgraded common areas, restrooms, lobbies and atriums. Lastly, the development team converted one of the two office towers connected by the ground-floor retail space into Urban Office, a proprietary flexible workspace concept with private offices and shared amenities. An 11-vendor food hall opened at 53 West earlier this year as part of the repositioning, and two additional retail concepts are expected to open later this year.
SELMA, TEXAS — KW Automotive has signed a 74,880-square-foot industrial lease at 9388 Corporate Drive in Selma, a northeastern suburb of San Antonio. John Colglazier, Lindsey Tucker, Kyle Kennan and David Oldham of Partners Real Estate represented the landlord, a partnership between Atlanta-based developer Ackerman & Co. and Baltisse US Inc., in the lease negotiations. Webb Sellers and Drew Allen of SRS Real Estate Partners represented the tenant.
HOUSTON — Locally based brokerage firm Oxford Partners has negotiated a 22,127-square-foot office lease in Houston’s Energy Corridor. According to LoopNet Inc., the 17-story, 455,142-square-foot building at 580 Westlake Park Blvd. was built in 1982 and renovated in 2021. Ryan Hartsell of Oxford Partners represented the tenant, shipbuilder Hanwha Ocean, in the lease negotiations. Matt Asvestas, Grant Schiro and Ryan Barbles of Stream Realty Partners represented the landlord, Younan Properties.
CAMBRDIGE, MASS. — Locally based investment and development firm The Davis Cos. has completed a 161,616-square-foot life sciences facility in Cambridge. The facility at 101 Smith Place is one of four buildings within The Quad, a life sciences campus that is home to tenants such as Ginko Bioworks, Civetta Therapeutics, Invaio Sciences, Hyperion and Samsung Electronics. The facility features high-efficiency HVAC systems, surface and below-grade parking, a fitness center and indoor bike storage space. Davis developed 101 Smith Place in partnership with Invesco Real Estate. CBRE is marketing the property for lease.
AVON, CONN. — New Jersey-based Cronheim Mortgage has arranged a $24 million permanent loan for Avon Marketplace, a 78,687-square-foot shopping center located on the western outskirts of Hartford. The center was built on 17.3 acres in 1994 and is home to tenants such as ULTA Beauty, Athleta, LensCrafters, GAP Factory, New Balance, Starbucks and Verizon Wireless. Dev Morris, Andrew Stewart and Allison Villamagna of Cronheim arranged the loan, which carried two years of interest-only payments and a 25-year amortization schedule. The borrower and direct lender were not disclosed.
WOODBRIDGE, N.J. — Colliers has brokered the $11.1 million sale of 900 on Nine, a 112,705-square-foot office building in the Northern New Jersey community of Woodbridge. The building was 54 percent leased at the time of sale to tenants such as NIP Group, Onyx Equities and Toshiba. Jacklene Chesler, Patrick Norris, Philippe Jomphe and Matthew Cohen of Colliers marketed the property in conjunction with auction platform Ten-X on behalf of the seller, TFE Properties. The buyer was not disclosed.
NEW YORK CITY — Hines will open a 63,000-square-foot flexible workspace in Manhattan’s Hudson Square neighborhood under its proprietary coworking brand, The Square. The space at 205 Hudson St. formerly housed a WeWork facility and will be the brand’s first in New York City. The space will feature a variety of private suites, group meeting areas and amenity spaces. The opening is scheduled for later this summer.
NEW YORK CITY — XR Extreme Reach has signed a 13,400-square-foot office lease at The Spiral in Midtown Manhattan. The digital marketing firm is relocating its headquarters from 1633 Broadway to the 21st floor of the 66-story tower. Greg Conen and Sam Brodsky internally represented the landlord, Tishman Speyer, in the lease negotiations. Joe Messina and Seth Hecht of JLL represented the tenant.