Thursday, May 14, 2026
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PROTO-Park-Dallas
AcquisitionsIndustrialTexas

Newmark Arranges Sale of 257,192 SF Industrial Property in Dallas

by Taylor Williams

DALLAS — Newmark has arranged the sale of PROTO Park, a 257,192-square-foot industrial property located in Dallas. PROTO Park is a redevelopment of a 1960s-era brick warehouse that sits on a nine-acre site in the city’s Brookhollow area and features 24-foot clear heights. Dustin Volz, Stephen Bailey, Dom Espinosa and Zach Riebe of Newmark represented the seller, North Texas-based M2G Ventures, which developed the project in partnership with Pennybacker Capital, in the transaction. The buyer was California-based investment firm Bendetti. At the time of sale, PROTO Park was fully leased to tenants such as Dynasty Spirits, Taxila Stone, Preziosa Stone and an undisclosed aviation firm.

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LoansRetailTexas

Lone Star PACE Provides $15M in C-PACE Financing for Houston Retail Property

by Taylor Williams

HOUSTON — Lone Star PACE has provided $15 million in C-PACE financing for a 53,000-square-foot retail property located within The Allen mixed-use development near downtown Houston. Lone Star PACE partnered with lender Nuveen Green Capital to administer the financing. Locally based developer DC Partners owns The Allen. C-PACE (commercial property-assessed clean energy) financing allows commercial borrowers to obtain favorable loan terms in exchange for implementing eco-friendly devices and initiatives at their properties.

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DevelopmentIndustrialTexas

Shoal Creek Capital Nears Completion of 80,000 SF Industrial Project in Northwest Dallas

by Taylor Williams

DALLAS — Locally based development and investment firm Shoal Creek Capital is nearing completion of Trinity Industrial Park, an 80,000-square-foot industrial project in Dallas. The 5.3-acre site at 8733 N. Stemmons Freeway is located near Love Field Airport on the city’s northwest side, and the development consists of two buildings with 28-foot clear heights. Full completion is slated for July. NAI Robert Lynn is marketing the project for lease.

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Leasing ActivityOfficeTexas

Orion Group Holdings Signs 63,519 SF Office Headquarters Lease at East River in Houston

by Taylor Williams

HOUSTON — Orion Group Holdings has signed a 63,519-square-foot office lease for its new headquarters space in Houston. The locally based marine and onshore specialty construction services provider is taking three full floors at East River, a 150-acre mixed-use development by Midway in the city’s Historic Fifth Ward. Collin Grimes and Bill Boyer of CBRE represented the tenant in the lease negotiations. Amanda Nebel of Parkway, which launched a new company with Midway in May 2023, internally represented ownership.

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Leasing ActivityRestaurantRetailTexas

Black Bear Diner to Open 5,250 SF Restaurant in Tomball, Texas

by Taylor Williams

TOMBALL, TEXAS — Black Bear Diner will open a 5,250-square-foot restaurant at the intersection of State Highway 249 and the Grand Parkway in the northwestern Houston suburb of Tomball. Andrew Alvis represented the landlord, NewQuest Properties, in the lease negotiations on an internal basis. Matt Parsons of JLL represented the tenant. A tentative opening date was not disclosed.

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DevelopmentHealthcareNortheastPennsylvania

Children’s Hospital of Philadelphia Tops Out $480M Healthcare Facility

by Taylor Williams

PHILADELPHIA — The Children’s Hospital of Philadelphia (CHOP) has topped out the Morgan Center for Research & Innovation, a healthcare project valued at $480 million. The 17-story, 350,000-square-foot facility is located on CHOP’s campus in South Philadelphia and will include both wet and dry lab space. Construction began in October 2022, and the development team includes a trio of general contractors and construction managers: Gilbane Building Co., Pride Enterprises and McKissack & McKissack. Mitchell Morgan, founder and chairman of multifamily development firm Morgan Properties, and his family donated $50 million to the project. Full completion is slated for some time next year.

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DevelopmentIndustrialMassachusettsNortheast

Tishman Speyer to Undertake 700,000 SF Industrial Redevelopment in Peabody, Massachusetts

by Taylor Williams

PEABODY, MASS. — New York City-based Tishman Speyer will undertake a 700,000-square-foot industrial redevelopment project in Peabody, a northern suburb of Boston. For the past 40 years, the 60-acre site at 8 Centennial Drive served as the headquarters of Analogic, a multinational corporation that specializes in healthcare technology and aviation security products and services. The project will convert the former 515,000-square-foot office and manufacturing campus into a warehouse and distribution center with four buildings that will range in size from 130,000 to 260,000 square feet. Tishman Speyer is redeveloping the property in partnership with Mitsui Fudosan America. A construction timeline has not yet been established. Analogic was also the seller of the property.

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LoansNew JerseyNortheastOffice

Reynolds Asset Management Receives $16M Loan for Refinancing of Central New Jersey Office Property

by Taylor Williams

LAWRENCEVILLE, N.J. — Reynolds Asset Management has received a $16 million loan for the refinancing of Princeton Pike Office Park, a six-building campus located just north of Trenton in Lawrenceville. Northwest Bank provided the loan, which carries a fixed interest rate of 6.6 percent. Reynolds acquired the property in April 2022 in partnership with Capital Solutions, at which time the campus was 50 percent leased, and implemented a capital improvement program. Today, Princeton Pike Office Park has an occupancy rate of 95 percent.

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Federal-Realty-Bala-Cynwyd
DevelopmentMultifamilyNortheastPennsylvania

Federal Realty Breaks Ground on 217-Unit Multifamily Redevelopment in Metro Philadelphia

by Taylor Williams

BALA CYNWYD, PA. — Federal Realty Investment Trust has broken ground on a 217-unit multifamily redevelopment project in Bala Cynwyd, a northwestern suburb of Philadelphia. The project, which represents the second phase of a larger redevelopment, will convert a former 120,000-square-foot Lord & Taylor department store into an apartment complex with 16,000 square feet of ground-floor retail space. Bernardon is the project architect, and Bohler is the civil engineer. Construction is slated for a 2026 completion. Federal Realty received zoning approval for the project in February.

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25-Kent-Brooklyn
Leasing ActivityNew YorkNortheastRetail

Room 11 Hospitality Signs 23,000 SF Retail Lease in Brooklyn’s Williamsburg District

by Taylor Williams

NEW YORK CITY — Room 11 Hospitality has signed a 23,000-square-foot retail lease in Brooklyn’s Williamsburg district. The space at 25 Kent, a 511,000-square-foot mixed-use building, will be an event and catering venue for Room 11 affiliate La Sirena Events. Sam Seiler and Joe Whitten Morris of JLL represented the landlord, Rubenstein Partners, in the lease negotiations. Seiler also represented the tenant in conjunction with Joseph Sipala of JLL. The venue is scheduled to open next spring.

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