Property Type

Sullivan Development Breaks Ground on 28-Unit Leavenworth Lofts Apartment Building in Omaha

by Kristin Harlow February 28, 2024

OMAHA, NEB. — Developer Sullivan Development Co. has broken ground on Leavenworth Lofts, a 28-unit apartment building in Omaha. The project site at 3612 Leavenworth St. is within walking distance of the University of Nebraska Medical Center. Completion is slated for spring 2025. Leavenworth Lofts will feature one-bedroom units averaging 1,000 square feet. Penthouse units on the fifth floor will feature secured access and private rooftop terraces. Unique to the property is a short-term rental option for units on the lower level as well as a gallery in the lobby that will spotlight rotating exhibits by local artists. Residents will have access to concierge housekeeping services as well as a controlled-entrance garage. BVH Architecture and Ronco Construction make up the project team.

February 28, 2024

Leasing Activity Midwest NAI Office Wisconsin

NAI Greywolf Negotiates Two Office Leases Totaling 22,500 SF in Brookfield, Wisconsin

by Kristin Harlow February 28, 2024

BROOKFIELD, WIS. — NAI Greywolf has negotiated two office leases totaling 22,500 square feet at Executive Center V in Brookfield, a suburb of Milwaukee. Heuer Law Offices SC leased 3,074 square feet with a lease term of more than five years. Common Ground Inc., a healthcare insurance solution for small businesses, nonprofits, individuals and families, leased 19,675 square feet. Matt Hock of NAI Greywolf represented the undisclosed landlord. The property is located at 300 N. Executive Drive.

February 28, 2024

Acquisitions Industrial Midwest Minnesota

Marcus & Millichap Arranges $1M Sale-Leaseback of Industrial Facility in Becker, Minnesota

by Kristin Harlow February 28, 2024

BECKER, MINN. — Marcus & Millichap has arranged the $1 million sale-leaseback of a 14,380-square-foot industrial facility in Becker, about 47 miles northwest of Minneapolis. The property is located at 14105 Commerce Drive. Brandon Houghtaling and Peter Doughty of Marcus & Millichap represented the seller, a private investor. The property was offered as a sale-leaseback with an initial five-year lease term. The buyer was undisclosed.

February 28, 2024

Leasing Activity Midwest Office Wisconsin

Klement’s Sausage Co. Signs 3,091 SF Office Lease in Milwaukee

by Kristin Harlow February 28, 2024

MILWAUKEE — Klement’s Sausage Co. has signed a 3,091-square-foot office lease at the Timbers Building within the Tannery Office Complex in Milwaukee. The property is located at 700 W. Virginia St. John Davis and Ned Purtell of Founders 3 Real Estate Services represented the owner, R2 Properties. Klement’s has been making small batch, handcrafted sausages in Milwaukee for more than 60 years.

February 28, 2024

Industrial Leasing Activity New Jersey Northeast

Cushman & Wakefield Negotiates 22,523 SF Industrial Lease in Fairfield, New Jersey

by Taylor Williams February 28, 2024

FAIRFIELD, N.J. — Cushman & Wakefield has negotiated a 22,523-square-foot industrial lease in the Northern New Jersey community of Fairfield. The recently renovated building at 123 Lehigh Drive features a clear height of 24 feet and two dock-high doors. Bill Waxman, Morgan Nitti, Jeff Volpi, Mindy Lissner and David Gheriani of Cushman & Wakefield represented the landlord, The Stro Cos., in the lease negotiations. Brian Wilson of Resource Realty represented the tenant, Moda Foods. The deal brings the building to full occupancy.

February 28, 2024

Leasing Activity New Jersey Northeast Retail

Caliber Collision Signs 11,815 SF Retail Lease in Union, New Jersey

by Taylor Williams February 28, 2024

UNION, N.J. — Automotive repair company Caliber Collision has signed an 11,815-square-foot retail lease in the Northern New Jersey community of Union. According to LoopNet Inc., the single-tenant property at 2260 Route 22 E was originally built in 2000. Neil Goldstein and John Ostrowski of The Goldstein Group represented the undisclosed landlord in the lease negotiations. Sean Pyle and Justin Korinis of Sabre Real Estates Advisors represented Caliber Collision.

February 28, 2024

Affordable Housing Development Loans Multifamily New York Northeast Top Stories

JV Receives Construction Financing for $125M Rialto West Affordable Housing Development in Hell’s Kitchen

by Kristin Harlow February 28, 2024

NEW YORK CITY — A joint venture between Douglaston Development and the Entertainment Community Fund has received construction financing for Rialto West, a $125 million affordable housing development in Manhattan’s Hell’s Kitchen neighborhood. Located at 509 W. 48th St., the eight-story building will include 158 units for low- and moderate-income residents. Rialto West will feature a mix of studio, one-, two- and three-bedroom units that will be designated for households earning up to 140 percent of the area median income. Fifteen percent of the units will be dedicated to serving formerly homeless households. Shared amenity spaces will include a fitness center, laundry room and bicycle storage area. Additionally, the development’s ground floor will include more than 5,500 square feet of cultural space as well as a public restroom facing an approximately 25,000-square-foot public plaza that will be built at 705 Tenth Ave. The NYC Department of Parks and Recreation will operate the public open space, which is to be named after Lorraine Hansberry, the famed playwright and author of “A Raisin in the Sun.” The developers are in discussions with IndieSpace, a provider of affordable workspaces for artists, to lease and operate rehearsal and coworking spaces at the property. The …

February 28, 2024

Development Industrial Texas

GTIS Partners Begins Construction on 484,000 SF Industrial Project in Southeast Houston

by Taylor Williams February 27, 2024

HOUSTON — New York-based global investment firm GTIS Partners has begun construction on Port 225 Commerce Center, a 484,000-square-foot industrial project located near Port Houston in southeast Houston. The development will consist of a 355,071-square-foot, cross-dock building and a 128,999-square-foot, rear-load building on a 26-acre site. Building features will include 36- and 32-foot clear heights, respectively, and combined parking for 382 cars and 93 trailers. Construction is scheduled for a fall completion. Other project partners include Angler Construction, Powers Brown Architecture, Langan Engineering and Cushman & Wakefield as the leasing agent.

February 27, 2024

Development Office Texas

Midway Breaks Ground on 320,000 SF Office Project in Houston, Names Anchor Tenant

by Taylor Williams February 27, 2024

HOUSTON — Midway has broken ground on CITYCENTRE Six, a 320,000-square-foot office building within the locally based developer’s CITYCENTRE mixed-use destination in West Houston. Additionally, Midway has named global chemical and building materials supplier Dow as the anchor tenant. Dow will occupy about 208,000 square feet within the 19-story building, which will include 12,000 square feet of retail and restaurant space and onsite parking. The design team includes architect of record Kirksey, Munoz + Albin Architecture & Planning and OJB Landscape Architecture. Construction is slated for a 2026 completion.

February 27, 2024

Acquisitions Multifamily Texas

Reynolds, Newport Buy Two Multifamily Properties in Texarkana for $23M

by Taylor Williams February 27, 2024

TEXARKANA, TEXAS — A joint venture between two investment firms, New Jersey-based Reynolds Asset Management and Dallas-based Newport Capital Advisors, has purchased two multifamily properties in Texarkana, located near the Texas-Arkansas border. The sales price was $23 million. The properties include Westridge Apartments (176 units) and Park at Summerhill (184 units). The seller was not disclosed. John Hamilton of Marcus & Millichap brokered the deal. Allan Edelson and Joe Tarantino of Walker & Dunlop originated an undisclosed amount of Fannie Mae acquisition financing on behalf of the joint venture, which plans to invest $3 million in capital improvements across both assets.

February 27, 2024

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