HOUSTON — Boston Consulting Group has signed a 4,925-square-foot office lease in downtown Houston. The management consulting firm is taking space at 1550 on the Green, a 28-story, 375,000-square-foot building owned by Skanska. The lease term is 12 years, and the building is now 48 percent leased. Boston Consulting Group plans to take occupancy of its space in the fourth quarter of 2025.
BAYONNE, N.J. — An entity doing business as Togus Urban Renewal LLC will develop 1888 Studios, a 1.5 million-square-foot film and TV production campus in the Northern New Jersey community of Bayonne. The 58-acre project will ultimately feature 17 buildings, 23 sound stages ranging in size from 18,000 to 60,000 square feet and 350,000 square feet of production support space. The development will also include office, storage and amenity space, as well as a parking garage and a five-acre public green space. Construction is expected to be complete by late 2026. The New Jersey Economic Development Authority provided an unspecified amount of tax credit equity to help finance the project.
NEW YORK CITY — Locally based investment firm Circle F Capital has received a $50 million construction loan for 1 Park Row, a multifamily project located at the nexus of Manhattan’s Tribeca and Financial District neighborhoods. The sponsor will use the proceeds to complete the project, which consists of 62 residential units and 8,000 square feet of retail and restaurant space within a 24-story building. Residences will have an average size of 1,028 square feet. Miami-based balance sheet lender 3650 REIT provided the financing.
WORCESTER, MASS. — The United Group of Cos. Inc. has broken ground on The Arbella at Bramble Hill, a 123-unit active adult project that will be located in the central Massachusetts community of Worcester. The property will span 17 acres and offer one- and two-bedroom apartments across three buildings. The community will also feature an 8,500-square-foot clubhouse. JLL arranged a $35 million construction loan through The Washington Trust Co. for the project, which is scheduled for a spring 2025 completion.
SHARON, PA. — MAG Capital Partners has purchased two manufacturing facilities totaling 62,063 square feet in Sharon, located on the Ohio-Pennsylvania border. The company acquired the adjacent properties via a sale-leaseback with HuFriedy Group, a manufacturer of dental supplies and equipment. J.C. Asensio, Andrew Sandquist and Briggs Goldberg of Newmark represented the seller in the transaction. The sales price was not disclosed.
NEW YORK CITY — Quest Partners has signed a 13,284-square-foot office lease at 110 E. 59th St. in Midtown Manhattan. The alternative asset management firm will relocate from 126 E. 56th St. to the entire 36th floor of the 37-story building next spring. Hugh McDonald and Munish Viralam of CBRE represented Quest Partners in the lease negotiations. Brett Greenberg and Fran Delgorio internally represented the landlord, Jack Resnick & Sons.
NAPERVILLE, ILL. — Mid-America Real Estate Corp. has brokered the sale of Iroquois Center, a 108,412-square-foot retail center in the Chicago suburb of Naperville. Northpond Partners purchased the asset for an undisclosed price. Some of the tenants at the value-add property include Planet Fitness, Duly Health and Care, Illiana Financial Credit Union and Cookies by Design. Joe Girardi, Rick Drogosz and Bine Wineman of Mid-America represented the seller, IRC Retail Centers/DRA Advisors. Pine Tree managed the property.
CHICAGO — Lessen, a company for outsourcing real estate property services, has signed a lease to relocate its Chicago office to a 77,000-square-foot space at 203 North LaSalle Street in the city’s Central Loop tech district. Last year, Lessen acquired SMS Assist, a facilities maintenance technology company headquartered in Chicago, marking Lessen’s corporate entry into the market. The company’s Chicago office is currently located at 130 E. Randolph St. Lessen expects to move into its new office in the first quarter of 2025. The new office is located adjacent to Google’s forthcoming Chicago office in the Thompson Center. Sumitomo Corp. owns 203 North LaSalle Street, which rises 17 stories.
CHICAGO — Summit Design + Build has completed an adaptive reuse project for Burdeen’s Jewelry at 120 E. Oak St. in Chicago’s Gold Coast as well as interior renovations to the existing Burdeen’s Jewelry store at 11 E. Walton St. at the base of the Waldorf Astoria. The 120 E. Oak St. project consisted of the interior build-out for Burdeen’s as well as two luxury flagship stores situated on either side. The two-story luxury jewelry store totals more than 10,000 square feet and shares an outer structure with Panerai and IWC. Project highlights include a watchmaking studio, transparent glass floor and large skylight. The location marks Burdeen’s fourth in the Chicago area. Hirsch MPG served as the architect. The renovated space at 11 E. Walton St. features individual luxury brand spaces for Jaeger-LeCoultre, Roger Dubuis and Piaget. Dunne Kozlowski was the architect.
STILLWATER, MINN. — JLL Capital Markets has arranged the sale and financing of Rivertown Commons, a 96-unit Section 8 affordable seniors housing community situated along the St. Croix River in Stillwater. The seven-story building totals 55,800 square feet. Amenities include a game room, library and private garden patio. Josh Talberg and Doug Childers of JLL represented the seller, Dominium Management, and procured the buyer, Standard Communities. The buyer plans to refresh the units and common areas in addition to extending the existing affordability restrictions. C.W. Early, Ken Dayton and Pat McMullen of JLL arranged acquisition financing through Freddie Mac.