Tuesday, August 5, 2025
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Lofts-iThirty-Garland
DevelopmentMultifamilyTexas

Anthem Development Breaks Ground on 340-Unit Multifamily Project in Garland, Texas

by Taylor Williams

GARLAND, TEXAS — Dallas-based Anthem Development has broken ground on Lofts iThirty, a 340-unit multifamily project in Garland, a northeastern suburb of Dallas. The  community will consist of five four-story buildings with two pools, two fitness centers, a pet park, coffee bar, game room and outdoor kitchens. Construction is set to be complete in 2025. Los Angeles-based Nova Capital arranged $63 million in construction financing through Bank OZK for the project. Nova Capital also secured an undisclosed, institutional investment firm as the joint venture equity partner.

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Lyle-Dallas
DevelopmentMultifamilyTexas

KWA Construction Tops Out 334-Unit Multifamily Project in North Dallas

by Taylor Williams

DALLAS — Locally based general contractor KWA Construction has topped out Lyle, a 334-unit multifamily project located in North Dallas. Dallas-based GFF Architects designed the project, and a joint venture between Equity Residential and Toll Brothers is the developer. Lyle will offer studio, one-, two- and three-bedroom floor plans and amenities such as a pool, fitness center, coworking spaces, a pet spa, game room and Zen courtyards, as well as a 475-space parking garage. Completion is slated for November 2024.

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HospitalityLoansTexas

Sonnenblick-Eichner Arranges $21M Loan for Refinancing of Lubbock Hotel

by Taylor Williams

LUBBOCK, TEXAS — California-based Sonnenblick-Eichner Co. has arranged a $21 million loan for the refinancing of the Cotton Court Hotel in the West Texas city of Lubbock. The 165-room boutique hotel houses an onsite restaurant and bar, 4,489 square feet of indoor meeting space and a pool area with a bar, outdoor fireplaces and seating throughout. An undisclosed investment bank provided the five-year, nonrecourse loan, which carries a fixed interest rate, to the undisclosed borrower.

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AcquisitionsOfficeTexas

Cushman & Wakefield Brokers Sale of 37,500 SF Industrial Building in North Houston

by Taylor Williams

HOUSTON — Cushman & Wakefield has brokered the sale of a 37,500-square-foot industrial building located at 431 Bammel Road in North Houston. According to LoopNet Inc., the building was constructed on 5.8 acres in 2015 and features four dock-high doors, two grade-level doors and 28-foot clear heights. Landon Williams, Katie Hargett and Coe Parker of Cushman & Wakefield represented the buyer, Greenbriar Properties, in the transaction. Mike Boyd, Greg Barra and Cory Grant of Boyd Commercial represented the undisclosed seller. The building was fully leased at the time of sale.

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IndustrialLeasing ActivityLee & AssociatesTexas

Lee & Associates Negotiates 28,562 SF Industrial Lease in Northwest Dallas

by Taylor Williams

DALLAS — Lee & Associates has negotiated a 28,562-square-foot industrial lease in northwest Dallas. The building at 10701 N. Stemmons Freeway totals 83,370 square feet. Adam Graham and Ken Wesson of Lee & Associates represented the landlord, Mississippi-based EastGroup Properties, in the lease negotiations. The tenant was Baker Distributing Co. No other third-party brokers were involved in the deal.

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IowaLoansMidwestMixed-Use

GreenLake Provides $35.3M Construction Loan for Entertainment District in Waukee, Iowa

by Kristin Harlow

WAUKEE, IOWA — GreenLake Asset Management LLC has provided a $35.3 million construction loan for KeeTown Loop, a 40-acre master-planned entertainment district in Waukee, a western suburb of Des Moines. The project will be anchored by a 3,500-seat Live Nation concert venue. Additional plans call for an 88-unit apartment complex and two hotels: Aloft Hotel by Marriott and Home2 Suites by Hilton. There will also be 22,000 square feet of office space and 51,000 square feet of retail space. Spaces for Starbucks and McDonald’s are currently under construction. Future plans call for additional restaurants, a microbrewery and a variety of other retail concepts. GreenLake’s funding will enable the borrower to complete construction of the Live Nation venue and to purchase the land to be used for parking.

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AcquisitionsMidwestMissouriMultifamily

Berkadia Negotiates Sale of 120-Unit Multifamily Property in St. Louis

by Kristin Harlow

ST. LOUIS — Berkadia has negotiated the sale of Majestic Stove Lofts, a 120-unit multifamily property in St. Louis. The sales price was undisclosed. Located at 2017 Washington Ave. and built in 2006, the community was 96 percent occupied at the time of sale. Andrea Kendrick, Ken Aston and Bobby Mills of Berkadia represented the seller, St. Louis-based Regency Realty Co. LLC. The asset sold to a California-based buyer.

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AcquisitionsIllinoisMidwestRetail

Mid-America Brokers Sale of Mattoon Marketplace Shopping Center in Southern Illinois

by Kristin Harlow

MATTOON, ILL. — Mid-America Real Estate Corp. has brokered the sale of Mattoon Marketplace, a community shopping center located in the southern Illinois city of Mattoon. The sales price was undisclosed. The property is 98 percent leased to tenants such as PetSmart, Dollar Tree, Cato, Hibbett Sporting Goods, Aspen Dental, Buffalo Wild Wings, Verizon and Shoe Sensation. Rick Drogosz and Emily Gadomski of Mid-America represented the seller, United American Properties. Chase Properties was the buyer.

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DevelopmentIllinoisIndustrialMidwest

Principle Construction Begins Tenant Improvements for Industrial Dry-Cleaning Facility in Aurora, Illinois

by Kristin Harlow

AURORA, ILL. — Principle Construction Corp. has begun tenant improvements for a 282,588-square-foot building located at 2000 Deerpath Road in Aurora. The tenant, Tailored Brands, owns brands such as Men’s Wearhouse, Jos. A. Bank and family retailer K&G Fashion Superstore. The Aurora facility will support the company’s clothing rental business, including infrastructure for dry cleaning, laundry, repair and storage of tuxedos and other formalwear. Principle will add a 13,491-square-foot boiler and dry-cleaning room with a dedicated structural pipe support mezzanine. The team is also installing 20 new 25-ton rooftop air conditioning units, 14 interlocking exhaust fans and 29 docks. Partners in Design is the project architect. Completion is slated for February 2024.

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IllinoisLeasing ActivityMidwestRetail

GoodVets to Open 2,656 SF Location at Optima Lakeview Apartments in Chicago

by Kristin Harlow

CHICAGO — GoodVets, a Chicago-based full-service veterinary care provider, has leased ground-floor retail space at Optima Lakeview, a 198-unit luxury apartment community in Chicago’s Lakeview neighborhood. The tenant is scheduled to open the 2,656-square-foot location in December. GoodVets offers a comprehensive range of veterinary services, including preventive care, surgery, dentistry and wellness programs. The Lakeview location represents the sixth Chicago-area office for GoodVets and its second within an Optima Inc. apartment building. Designed by David Hovey Sr. and completed in 2022, Optima Lakeview occupies the site of a shuttered Treasure Island Foods grocery store.

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