Property Type

Hoffman, Madison Marquette Sell The Wharf in Southwest D.C. to PSP Investments at $1.8B Valuation

by John Nelson April 29, 2025

WASHINGTON, D.C. — In two separate releases, co-developers Hoffman & Associates and Madison Marquette have announced that they sold their stake in The Wharf, a 3.5 million-square-foot mixed-use destination in southwest Washington, D.C. The Public Sector Pension Investment Board (PSP Investments), a pension fund investor based in Quebec, is now the sole owner of The Wharf, following more than a decade of having a minority stake in the development. The Wharf was constructed over the course of 15 years by Hoffman & Associates and Madison Marquette. The mixed-use neighborhood features a mile of waterfront development along the Potomac River. The sales price was not shared in either announcement, but Green Street News reports that Hoffman & Associates and Madison Marquette sold their stake at a $1.8 billion valuation. Previous components at The Wharf have sold in recent years and were thus not included in the sale to PSP Investments, including 300 condominiums, two office buildings and the Willard InterContinental Washington hotel, which Willard Investments purchased and rebranded in 2022. The Wharf was delivered by the sellers in two separate phases. Phase I opened in October 2017 and included three hotels, two multifamily and condominium buildings and 210,000 square feet of retail, …

April 29, 2025

Industrial Lee & Associates Market Reports Texas Texas Market Reports

Laredo, Texas: The World’s Largest Port, A Supply Chain Powerhouse

by Taylor Williams April 29, 2025

By Enrique Volkmer, associate at Lee & Associates Laredo, Texas, has emerged as one of the largest ports in the world by volume and crossings, driven by its robust infrastructure and strategic location. According to 2023 data from the U.S. Census Bureau, the Port of Laredo was responsible for handling an aggregate amount of product valued at about $320 billion, the most in the country by that metric. In addition, a 2024 article from Transport Topics, citing data from the Laredo Economic Development Corp., stated that the Port of Laredo sees more than 5.5 million truck crossings per year. The article also noted that the port is home to 660 trucking and transportation companies, 250 freight forwarders and 120 U.S. Customs brokers. Recent analysis of freight costs conducted by LoadWise 3PL and OL Logistics found that shipping product from Laredo to several major destinations, including Detroit, Atlanta, Indianapolis and Pittsburgh, actually yields savings compared to shipping from Houston to those cities, all other factors being held equal. The same study revealed a cost advantage when shipping westward from Laredo instead of Dallas to select markets such as Los Angeles, Denver, Seattle, Salt Lake City and San Francisco. Freight is often …

April 29, 2025

Content Partner Development Features Industrial Leasing Activity Lee & Associates Midwest Multifamily Northeast Office Retail Southeast Texas Uncategorized Western

Lee & Associates: Tariffs Add to Q1 Industrial Challenges; All Sectors See Constrained Development

by Sarah Daniels April 29, 2025

The end of the first quarter of 2025 saw market uncertainty in the face of new U.S. trade and tariff policies combined with an unclear geopolitical outlook, according to Lee & Associates’ 2025 Q1 North America Market Report. The effect of these concerns within the commercial real estate world are most evident in the industrial sector, which is also contending with oversupply and softening rent growth. Development is slow across property types. Retail, despite high-profile store closures in early 2025, remains historically tight on space as years of underbuilding keep availabilities near record lows. Office demand has stabilized in several major metros following years of contraction, though vacancy remains elevated. The pipeline of new construction is both drying up and favoring new types of tenants beyond traditional office spaces. Multifamily is seeing strong tenant demand in certain markets despite a flood of new deliveries. Lee & Associates has made their full market report available here (click through for detailed breakdowns and city-by-city information). The information below for the industrial, office, retail and multifamily sectors offers clarity on market-wide demand, rent growth trends and challenges likely to shape trajectories throughout 2025. Industrial Overview: Soft Markets Face Tariff Disruptions North America’s industrial markets …

April 29, 2025

Acquisitions Multifamily Texas

Westmount Realty Capital Sells 164-Unit Apartment Complex in Arlington

by Taylor Williams April 28, 2025

ARLINGTON, TEXAS — Dallas-based investment firm Westmount Realty Capital has sold a 164-unit apartment complex in Arlington. Built on 7.4 acres in 1980, Westmount at Forest Oaks is a garden-style property that offers one- and two-bedroom units with an average size of 736 square feet. Amenities include a pool, playground and a fitness center. Westmount bought the property in 2016 and undertook renovations. William Hubbard, Michael Ware, Taylor Hill, Drew Kile and Joey Tumminello of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented Westmount in the transaction. The team also procured the undisclosed buyer, which plans to further implement capital improvements.

April 28, 2025

Leasing Activity Retail Texas

Ross Dress for Less to Open 22,000 SF Store at Buckingham Plaza in Garland, Texas

by Taylor Williams April 28, 2025

GARLAND, TEXAS — Ross Dress for Less will open a 22,000-square-foot store in the northeastern Dallas suburb of Garland. The space is located within Buckingham Plaza, a shopping center that is also home to tenants such as dd’s Discounts, DTLR Villa, Dickey’s Barbecue Pit, Burger Island and Metro by T-Mobile. Matt Luedtke, Ben Terry, Max Johnston and Bernard Shaw of Weitzman represented the undisclosed landlord in the lease negotiations. Jim Tapp of The Tapp Co. represented Ross Dress for Less.

April 28, 2025

Leasing Activity Office Texas

Archer Systems Renews 17,000 SF Office Lease at Stonecreek in Northwest Austin

by Taylor Williams April 28, 2025

AUSTIN, TEXAS — Archer Systems, a Houston-based provider of comprehensive legal settlement solutions, has renewed its 17,000-square-foot office lease at Stonecreek, a 76,910-square-foot building in northwest Austin. Built in 2000, Stonecreek features a conference room, lobby and a tenant break room. Matt Frizzell, Brian Liverman and Kevin Granger of Cushman & Wakefield represented the landlord, Drawbridge Realty, in the lease negotiations. Alecia Schneider and Drew Morris of Savills represented the tenant.

April 28, 2025

Leasing Activity Office Texas

Federated Mutual Insurance Signs 15,731 SF Office Lease in North Richland Hills, Texas

by Taylor Williams April 28, 2025

NORTH RICHLAND HILLS, TEXAS — Federated Mutual Insurance Co. has signed a 15,731-square-foot office lease at Corporate Centre at the Crossing in North Richland Hills, located north of Fort Worth. The 226,650-square-foot complex was built in phases between 1991 and 2003. James Stein of CBRE represented the tenant in the lease negotiations. Jake Neal, Matt Carthey and Vic Meyer of Holt Lunsford Commercial represented the landlord, Capital Commercial.

April 28, 2025

Acquisitions Retail Texas

Marcus & Millichap Brokers Sale of 11,760 SF Vacant Retail Building in Downtown Fort Worth

by Taylor Williams April 28, 2025

FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of an 11,760-square-foot vacant retail building in downtown Fort Worth. The three-story building at 913 Houston St. is located across from the Fort Worth Convention Center, which is undergoing a $500 million expansion. Joe Santelli of Marcus & Millichap represented the seller, a developer, and procured the buyer. Both parties were locally based entities that requested anonymity.

April 28, 2025

Development Industrial Northeast Pennsylvania

RMR Group to Develop 477,500 SF Industrial Project in Southwest Philadelphia

by Taylor Williams April 28, 2025

PHILADELPHIA — The RMR Group, an alternative asset management company based in metro Boston, will develop a 477,500-square-foot industrial project in southwest Philadelphia. The site at 8800 Tinicum Blvd. is located across from Philadelphia International Airport, and the development will feature a clear height of 40 feet, ample car and trailer parking and an electrical capacity of 8,000 amps. Construction is expected to begin over the summer and to last 12 to 18 months. Avison Young has been appointed as the leasing agent.

April 28, 2025

Development Multifamily New Jersey Northeast

Kushner Begins Leasing 265-Unit Apartment Complex in East Hanover, New Jersey

by Taylor Williams April 28, 2025

EAST HANOVER, N.J. — Locally based developer Kushner has begun leasing Livana East Hanover, a 265-unit multifamily project in the Northern New Jersey community of East Hanover. The community features a mix of one- to three-bedroom residences across four buildings and includes 53 affordable housing units. The amenity package comprises a pool, grilling stations, outdoor gaming area, fitness center with a yoga studio, theater room, residents-only clubroom, a conference room and coworking facilities. Construction began in June 2022. Rents start at $2,500 per month for a one-bedroom apartment.

April 28, 2025

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