Property Type

RREAF Holdings, Innisfree Hotels to Develop $250M Margaritaville Resort in Galveston, Texas

by Taylor Williams January 23, 2024

GALVESTON, TEXAS — Dallas-based investment firm RREAF Holdings, in partnership with Gulf Coast owner-operator Innisfree Hotels, will develop a $250 million Margaritaville Hotel & Resort in Galveston. The 334-room, 300,000-square-foot hotel will feature a 2.5-acre elevated waterpark, a lazy river, pickleball courts, family entertainment center, four restaurants and direct beach access, as well as other features activities and amenities with themes from the music of the late Jimmy Buffett. Construction is scheduled to begin in May or June. A tentative completion date was not disclosed.

January 23, 2024

Development Multifamily Retail Texas

McLeod Cobb Reveals Construction Updates, New Tenants at $100M Development in Portland, Texas

by Taylor Williams January 23, 2024

PORTLAND, TEXAS — McLeod Cobb Investments has revealed construction updates and new tenant signings at Oliver’s Way, the firm’s $100 million multifamily and retail development in the South Texas city of Portland. A 128,500-square-foot Target store that will anchor the retail component is nearing completion and will open late this summer. Construction will also soon begin on a 13,800-square-foot freestanding retail building. McLeod Cobb has secured deals with retailers such as Jack in the Box, Brake Check, Raising Cane’s, Chipotle Mexican Grill, Aspen Dental, Five Guys, James Avery and Wells Fargo. The development team expects to begin construction on the apartments later this year.

January 23, 2024

Acquisitions Industrial Texas

Finial Group Arranges Sale of 190,714 SF Industrial Park in North Houston

by Taylor Williams January 23, 2024

HOUSTON — Locally based brokerage firm Finial Group has arranged the sale of a 190,714-square-foot industrial park in North Houston. The master-planned development comprises nine buildings on a 15.1-acre site at 1531-15342 Vantage Parkway E. A family office sold the park to a private equity group for an undisclosed price, with both parties requesting anonymity. Keith Bilski, Dylan Schopper, Jack Gaffney, Chase Tucker and John Buckley of Finial Group brokered the deal.

January 23, 2024

Industrial Leasing Activity Texas

Lockheed Martin Signs 136,165 SF Industrial Lease in Fort Worth

by Taylor Williams January 23, 2024

FORT WORTH, TEXAS — Lockheed Martin has signed a 136,165-square-foot industrial lease in Fort Worth. The aerospace and defense contractor will take space at Fort West Commerce Center, a three-building, 531,601-square-foot development that sits on a 30-acre site on the city’s north side. Todd Burnette and John Davidson of JLL represented Lockheed Martin in the lease negotiations. Matt Carthey and George Jennings of Holt Lunsford Commercial represented the landlord, Phoenix-based Creation Equity.

January 23, 2024

Industrial Leasing Activity Texas

Oxford Partners Negotiates 48,500 SF Industrial Lease in Flower Mound, Texas

by Taylor Williams January 23, 2024

FLOWER MOUND, TEXAS — Houston-based brokerage firm Oxford Partners has negotiated a 48,500-square-foot industrial lease in Flower Mound, located in the northern-central part of the metroplex. Andrew Gilbert and Keaton Brice of Holt Lunsford Commercial represented the landlord, Prologis, in the lease negotiations. Chase McAteer of Oxford Partners represented the tenant, Amber Green Realty, which plans to use the facility for the preparation of catered meals.

January 23, 2024

Loans Multifamily New Jersey Northeast

JLL Arranges $80M in Construction Financing for Multifamily Project in Asbury Park, New Jersey

by Taylor Williams January 23, 2024

ASBURY PARK, N.J. — JLL has arranged $80 million in construction financing for SURFHOUSE Asbury Park, a 226-unit multifamily project in coastal New Jersey. The six-story building will house studio, one-, two- and three-bedroom apartments that will range in size from 700 to 1,200 square feet, as well as three- and four-bedroom townhomes. Amenities will include a pool, fitness center, resident lounge and a rooftop deck, and the project also includes 3,500 square feet of ground-floor retail space. Jon Mikula, Matthew Pizzolato and Ryan Carroll of JLL arranged a senior construction loan from Unity Capital for the project in addition to $21 million in equity that was raised on Crowdstreet. The borrower and developer is a joint venture between iStar Residential and Starfield Cos.

January 23, 2024

Leasing Activity Life Sciences Northeast Office Pennsylvania

Dow Inc. Signs 800,000 SF Office, Life Sciences Lease Extension in Collegeville, Pennsylvania

by Taylor Williams January 23, 2024

COLLEGEVILLE, PA. — Chemicals manufacturer Dow Inc. has signed an 800,000-square-foot lease extension at its office and life sciences campus in Collegeville, about 25 miles northwest of Philadelphia. A partnership between New York City-based David Werner Real Estate Investments and regional firm GreenBarn Investment Group purchased the 1.9 million-square-foot campus, which consists of 14 buildings on 340 acres, from Pfizer in August 2023. Newmark represented Dow Inc., which first moved to Collegeville in 2012, in the lease negotiations.

January 23, 2024

Leasing Activity Multifamily New Jersey Northeast

Garden Communities Completes Lease-Up of Walnut Hill Apartments in Clark, New Jersey

by Taylor Williams January 23, 2024

CLARK, N.J. — Locally based developer Garden Communities has completed the lease-up of Walnut Hill, a 177-unit apartment complex in Clark, about 23 miles southwest of New York City. The newly built property is now fully occupied and recently secured a long-term debt structure. Units come in one- and two-bedroom units, and amenities include a fitness center, pool, clubhouse with lounges and a game room. About 15 percent (28 units) of the residences are reserved as affordable housing.

January 23, 2024

Acquisitions Connecticut Development Multifamily Northeast

Cushman & Wakefield Brokers $12M Sale of Multifamily Development Site in Norwalk

by Taylor Williams January 23, 2024

NORWALK, CONN. — Cushman & Wakefield has brokered the $12 million sale of a 2.3-acre multifamily development site in the downtown area of the southern coastal Connecticut city of Norwalk. The buyer, RMS Cos., plans to develop a six-story, 204-unit building on the site at 370 West Ave., which formerly housed a YMCA. Al Mirin, Kate Schwartz, Matthew Torrance, Jim Fagan, Gerry Lees and Maureen O’Boyle of Cushman & Wakefield represented the seller, Norwalk Hospital, in the transaction.

January 23, 2024

Acquisitions Multifamily New Jersey Northeast

Gebroe-Hammer, Berkadia Negotiate Sale of 59-Unit Apartment Complex in Morristown, New Jersey

by Taylor Williams January 23, 2024

MORRISTOWN, N.J. — Gebroe-Hammer Associates and Berkadia have negotiated the sale of The Metropolitan Lofts, a 59-unit apartment complex in the Northern New Jersey city of Morristown. Built in 2018, the property offers one- and two-bedroom units ranging from 679 to 1,203 square feet in size and amenities such as a fitness center with yoga and spin studios, golf simulator with lounge seating and outdoor grilling and dining stations. Gebroe-Hammer and Berkadia represented the seller, a partnership between Veris Residential and Woodmont Properties, in the transaction. The buyer was not disclosed.

January 23, 2024

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