Monday, June 29, 2026
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IndustrialLeasing ActivityMichiganMidwest

Edge Autonomy Energy Systems Signs 85,000 SF Industrial Lease in Ann Arbor

by Kristin Harlow

ANN ARBOR, MICH. — Edge Autonomy Energy Systems has signed a lease for an 85,000-square-foot industrial building located at 5775 Interface Drive in Ann Arbor. A producer of solid oxide fuel cells and ruggedized power solutions, Edge Autonomy Energy Systems and its legacy companies have operated in Ann Arbor for 20 years. The property on Interface Drive was originally a high-bay office building and will be converted to meet the tenant’s needs. Kyle Passage, Craig Herschel and Steve Langton of Cushman & Wakefield represented the tenant, while Matt Buslepp of Avison Young represented the landlord, Mansour Cos.

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AcquisitionsKansasMidwestRetail

Boulder Group Arranges $1.8M Sale of Dollar General-Occupied Property in Wathena, Kansas

by Kristin Harlow

WATHENA, KAN. — The Boulder Group has arranged the $1.8 million sale of a 10,566-square-foot property occupied by Dollar General in Wathena, a city in northeast Kansas. The net-leased building is located on South Park Street, a main thoroughfare in the city. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a Dollar General developer. The buyer was an individual completing a 1031 exchange.

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The-Ellery-Manhattan
DevelopmentMultifamilyNew YorkNortheast

Taconic Partners, NREA Underway on 330-Unit Multifamily Project in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — A partnership between Taconic Partners and National Real Estate Advisors is underway on construction of The Ellery, a 330-unit multifamily project in Midtown Manhattan. Designed by Handel Architects, The Ellery will consist of two interconnected buildings that will rise 32 and seven stories at 312 W. 43rd St. Units will come in studio, one- and two-bedroom floor plans. The Ellery will feature 28,000 square feet of indoor and outdoor amenity space, including a rooftop pool, as well as 42,000 square feet of retail space across two floors. The development team most recently completed construction of the façade, but a timeline for full completion was not disclosed.

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124-Westboro-Road-Grafton-Massachusetts
DevelopmentIndustrialLife SciencesMassachusettsNortheast

GFI Partners to Undertake 200,000 SF Life Sciences Redevelopment in Grafton, Massachusetts

by Taylor Williams

GRAFTON, MASS. — GFI Partners will undertake a 200,000-square-foot life sciences redevelopment project in Grafton, located in Worcester County. The Boston-based developer will convert a 33.2-acre site that was formerly part of the Grafton State Hospital campus into a two-building facility that can also support industrial usage under local zoning laws. MassDevelopment sold the parcel to GFI Partners for an undisclosed price. Construction is set to begin this summer and to be complete in early 2026.

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AcquisitionsMultifamilyNew YorkNortheastStudent Housing

Charney Cos., Criterion Real Estate Acquire Student Housing Property in Manhattan

by Taylor Williams

NEW YORK CITY — A joint venture between Charney Cos. and Criterion Real Estate Capital has acquired 99 Claremont Avenue, a student housing property located in the Morningside Heights neighborhood of Manhattan. The seven-story building was originally constructed in 1932. The seller and sales price were not disclosed. Madison Realty Capital provided a $55 million bridge loan for the acquisition, and the new ownership plans to use a portion of the proceeds to renovate the property.

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IndustrialLeasing ActivityMassachusettsNortheast

JLL Negotiates 111,119 SF Industrial Lease in Wilmington, Massachusetts

by Taylor Williams

WILMINGTON, MASS. — JLL has negotiated a 111,119-square-foot industrial lease at Upton Crossing in the northern Boston suburb of Wilmington. The lease is for the entirety of the building at 38 Upton Drive, which features a clear height of 32 feet. Joe Fabiano, Jamey Lipscomb, Jordan Yarboro and Brian Tisbert of JLL represented the landlord, locally based developer The Davis Cos., in the lease negotiations. Rachel Marks and Chelsea Andre, also with JLL, represented the tenant, an undisclosed provider of medical devices and equipment.

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AcquisitionsMultifamilyNew JerseyNortheast

Hudson Atlantic Arranges $3.6M Sale of Northern New Jersey Apartment Complex

by Taylor Williams

WOOD-RIDGE, N.J. — Locally based brokerage firm Hudson Atlantic has arranged the $3.6 million sale of The Highlander, a 19-unit apartment complex in the Northern New Jersey community of Wood-Ridge. The undisclosed seller originally developed the property, which according to Apatments.com exclusively offers one-bedroom units, in 1977. Adam Zweibel and Dante Fusaro of Hudson Atlantic brokered the deal. The buyer was also not disclosed.

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AlabamaMarket ReportsOfficeSoutheastSoutheast Market Reports

Birmingham’s Office Market Presents Opportunities Amid Economic Uncertainty

by John Nelson

By Brad Jones of Cushman & Wakefield/EGS Commercial Real Estate Despite ongoing challenges facing the national economy, Birmingham’s commercial real estate landscape remains steady and consistent. Over the past seven years, encompassing both pre- and post-pandemic periods, the overall vacancy rate for Birmingham’s multi-tenant office market has exhibited fluctuations like most markets, ranging from 12.9 percent in 2017 to 19 percent in 2023, according to research from Cushman & Wakefield/EGS Commercial Real Estate. However, for perspective, Birmingham’s year-end vacancy rate of 19 percent remains below the national average vacancy rate of 19.7 percent recorded in 2023, according to research from Cushman & Wakefield. Office leasing activity in Birmingham has maintained momentum, experiencing a notable 12 percent year-over-year increase from 2022. Total leasing activity for 2023 totaled 718,219 square feet. Class A transactions dominated with 564,681 square feet leased, indicating a continued preference for Class A office space (i.e. a flight to quality). This is good news for Class A product in this supposed period of economic slowdown. Office investment sales activity in Birmingham has, however, decelerated in the current economic climate. The impending ripple of debt maturities poses challenges for large institutional owners and creditors. At the same time, it …

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DevelopmentLife SciencesMassachusettsNortheastTop Stories

Basis Investment Buys Minority Stake in Related Beal’s $416M Life Sciences Development in Boston

by John Nelson

BOSTON — Basis Investment Group, a New York City-based commercial real estate debt and equity investment platform, has purchased an equity stake in Phase III of Innovation Square, a $416 million life sciences development in Boston’s Seaport District. The company purchased a minority stake of an undisclosed value from the developer, Related Beal, the Boston office of Related Cos. Located on a 1.8-acre site at 22 Drydock St., Phase III of Innovation Square will comprise a seven-story life sciences building totaling 340,000 square feet. Related Beal is leasing the site from the City of Boston for a 99-year term. The property’s life sciences space is fully preleased to Vertex Pharmaceuticals, a biopharmaceutical company based in Boston. The company also fully occupies Phase II of Innovation Square, a four-story life sciences building located at 6 Tide St. in Boston. In addition to laboratories and offices for Vertex, 22 Drydock will include dedicated lab space for Gloucester Marine Genomics Institute, a nonprofit that provides hands-on training for careers in labs to veterans and neighborhood high school students. Related Beal says the project is the first LEED Platinum and zero-net-carbon life sciences building in Boston. A net zero carbon building is a highly efficient …

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Lawrence
FeaturesStudent Housing

Strong Rent Growth, Stabilizing Interest Rates Could Spur More Student Housing Transactions in 2024

by Katie Sloan

Student housing’s strong occupancy rates and rent growth stand out as a bright spot when compared with the rest of commercial real estate sectors, many of which turned in a lackluster performance over the past year. Student housing rental rates at the nation’s top 175 universities increased an average of nearly 8 percent in the 2022-2023 academic year while occupancy in the fall of 2023 was 150 basis points higher than the average occupancy rate over the five preceding falls, according to Berkadia’s 2023 Student Housing Pipeline Report.  Pre-leasing heading into the 2024-2025 academic year surpassed 40 percent in December, according to RealPage, and observers expect effective rents to increase an average of around 10 percent compared to around 9 percent in the 2023-2024 period. Meanwhile, fewer lenders are willing to provide construction financing, which is slowing the development pipeline. Developers could add 48,000 beds in 2024, an increase of 11 percent over 2023, but new supply is projected to decline steeply to 28,190 beds in 2025, Berkadia reports. Those metrics, along with growing enrollment at many top universities, are fueling student housing investment demand. The problem, of course, is that student housing faces the same challenges as other property categories …

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