AUSTIN, TEXAS — International law firm Foley & Lardner LLP has signed a 15,458-square-foot office lease renewal at 600 Congress Ave. in downtown Austin. The building rises 32 stories and totals approximately 544,000 rentable square feet. Amenities include an outdoor terrace with a bar and lounge, as well as a fitness center and multiple food-and-beverage options. Robert Copito, Nate Stricklen and Jay Austin of CBRE represented the tenant in the lease negotiations. JLL represented the landlord, Beacon Capital Partners.
AUSTIN, TEXAS — National general contractor JT Magen has completed the renovation of the 8,079-square-foot office space of video game developer Owlchemy Labs in Austin. Revel Architecture designed the project, which involved the creation of several areas for larger group gatherings, as well as smaller connection spaces and a space for recreational gaming. The project team also maintained private meeting rooms and added larger ground-floor windows to increase the flow of natural light.
MENARD, TEXAS — Marcus & Millichap has brokered the sale of Bowie’s Truck Stop, a 4,995-square-foot retail property in Menard, about 150 miles west of Austin. Bowie’s Truck Stop sits on five acres and features a convenience store and 16 gas pumps that are operated by Valero. Sai Thakor and Jacob Luna led the Marcus & Millichap team that represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
LEXINGTON, KY. — Vesper Holdings has acquired The Lex, a 649-bed student housing community located near the University of Kentucky campus in Lexington. Built in 2008, the four-story property offers a mix of one-, two- and four-bedroom units with bed-to-bath parity. Amenities include a 24-hour fitness center, resort-style swimming pool, yoga studio, study spaces, outdoor hammock garden and a newly renovated clubhouse and gaming lounge. Vesper partnered with an undisclosed institutional investor on the off-market acquisition, financing for which was placed by Gregg Wallace at AMA Financial. The new ownership plans to begin a capital improvement plan imminently that will include the addition of updated technology and upgrades to units and shared amenity spaces. Campus Life & Style, Vesper’s in-house property management platform, will operate The Lex.
CLARKSVILLE, TENN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Solis, a 216-unit apartment community located in Clarksville, roughly 40 miles from Nashville. A private buyer based in California purchased the property from Gwaltney Communities for an undisclosed price. David Stollenwerk, Will Balthrope and Drew Garza of IPA represented the seller and procured the buyer in the transaction. Marcus & Millichap’s broker of record in Tennessee for the deal was Jody McKibben. Built in 2020, Solis features garden-style apartments averaging 1,089 square feet in size, as well as a saltwater swimming pool, 24-hour fitness center and a theater room.
VALHALLA, N.Y. — Westchester Medical Center Health Network has broken ground on The Critical Care Tower, a $220 million healthcare project that will be located on the provider’s campus in Valhalla, about 30 miles north of Manhattan. Dubbed the “Tower to Heal,” the five-story, 162,000-square-foot building will be situated adjacent to Westchester Medical Center’s main tower and will house 128 private patient rooms. The project is expected to create almost 800 construction jobs and about 125 permanent jobs. Completion is slated for 2026.
PHILADELPHIA — Walker & Dunlop (NYSE: WD) has arranged a $53.8 million construction loan for PhilaPort Logistics Center, a 282,250-square-foot industrial project in Philadelphia. The 15-acre site at 3060 S. 61st St. is located approximately three miles from Philadelphia International Airport and six miles from the Packer Avenue Marine Terminal. PhilaPort Logistics Center will feature a rear-load configuration, a clear height of 40 feet, 135-foot truck court depths, 50 exterior dock doors, two drive-in doors, 5,000 square feet of office space and parking for 187 cars and 72 trailers. Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz and Michael Ianno of Walker & Dunlop arranged the financing through ACORE Capital. The borrower was New York City-based DH Property Holdings. Construction is slated for a third-quarter 2025 completion.
MADISON, MIDDLETON AND FRANKLIN, WIS. — KeyBank Real Estate Capital (KBREC) has arranged $98 million in fixed-rate Freddie Mac loans for the refinancing of three multifamily properties in Wisconsin. Axiom Properties was the borrower. The Meadows in Madison is a 404-unit complex built in 1979 and renovated in 2008. The property consists of 16 residential buildings along with two pool buildings and two sheds. The $39.6 million loan features a 10-year term, 35-year amortization schedule and five years of interest-only payments. Springtree Apartments is a 272-unit, garden-style property in Middleton. Built in 1970, the community features one-, two- and three-bedroom units with 39 garage parking spaces and 338 surface parking spaces. The $29.4 million loan features a five-year term, 35-year amortization schedule and two years of interest-only payments. Mission Hills Apartments is a 271-unit, garden-style community in Franklin. Built in 1971 and renovated in 2015, the property features 10 buildings as well as a community pool and pool equipment building. The loan features a seven-year term, 35-year amortization schedule and two years of interest-only payments. Samantha Miller and Tom Reynolds of KBREC arranged the financing.
UNIVERSITY PARK, ILL. — Colliers has brokered the sale of a 72-acre industrial land site in the southern Chicago suburb of University Park. A private investor sold the land to Clarius Partners for an undisclosed price. The planned development will be primed for large logistics operations and include a 970,123-square-foot warehouse. The project will feature a 40-foot ceiling height, up to 475 trailer stalls, 162 docks and convenient access to I-57. Jim Estus and David Bercu of Colliers brokered the transaction. Colliers is marketing the project for lease.
CHICAGO — Interra Realty has negotiated the $6.6 million sale of a 33-unit apartment and retail building located at 5704 S. Harper Ave. in Chicago’s Hyde Park neighborhood. The corner property includes 28 one-bedroom apartment units and five commercial spaces, which are leased to Subway, a bike shop, convenience store, barbershop and real estate office. The residential portion was also fully leased at the time of sale. Brad Feldman of Interra represented the buyer, a local private investor, and the seller, a private family partnership.