Thursday, June 19, 2025
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AcquisitionsDistrict of ColumbiaMultifamilySoutheast

Marcus & Millichap Arranges $8M Sale of Apartment Building in D.C.

by John Nelson

WASHINGTON, D.C. — Marcus & Millichap has arranged the $8 million sale of Carleton Terrace Apartments, a 32-unit multifamily community located at 2371-2377 Champlain St. NW in Washington, D.C. Built in 1915, the property, which has been owned by the seller’s family for over 100 years, totals 30,900 square feet and is situated on a 19,876-square-foot, RA-2 zoned lot. Units at the three-story building include 28 one-bedroom and four two-bedroom apartments. Dennis Cravedi and Marty Zupancic of Marcus & Millichap brokered the transaction on behalf of the seller, an entity doing business as Carleton Terrace LLC. The buyer, a private investor, purchased the property through a collaborative TOPA (Tenant Opportunity to Purchase Act) process with the current tenants.

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Greenville-Self-Storage-Dallas
AcquisitionsIndustrialSelf-StorageTexas

JLL Negotiates Sale of 741-Unit Self-Storage Facility in Dallas

by Taylor Williams

DALLAS — JLL has negotiated the sale of Greenville Self Storage, a 741-unit facility located in the northern-central part of Dallas. CubeSmart operates the four-story, climate-controlled facility, which was built in 2019 and spans roughly 83,000 net rentable square feet. Brian Somoza, Steve Mellon, Matthew Wheeler and Adam Roossien of JLL represented the seller, Wentworth Property Co., in the transaction. Utah-based REIT Extra Space Storage purchased the facility for an undisclosed price. Greenville Self Storage was more than 90 percent occupied at the time of sale.

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DevelopmentHospitalityTexas

HALL Group Underway on 224-Room Marriott Hotel at Flagship Office Park in Frisco

by Taylor Williams

FRISCO, TEXAS — HALL Group is underway on construction of a 224-room hotel at HALL Park, the locally based firm’s flagship campus in Frisco that is currently in the midst of a $7 billion redevelopment. The hotel, which will be operated under Marriott’s Autograph Collection family of brands, will feature an outdoor pool, fitness center, restaurant and lounge, 4,000-square-foot ballroom and a patio overlooking Kaleidoscope Park. Construction is expected to be substantially complete by the end of the year.

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Leasing ActivityOfficeTexas

Jefferson Bank Opens 5,000 SF Branch at Norwood Tower in Downtown Austin

by Taylor Williams

AUSTIN, TEXAS — Jefferson Bank, a family-owned lender that was founded in San Antonio, has opened a 5,000-square-foot branch at Norwood Tower in downtown Austin. The branch officially opened on March 15, and the bank expects to employ more than 20 people at the site by the end of the year. Case McCoy of HPI Real Estate Investments & Services represented Jefferson Bank in the lease negotiations. Patrick Ley of Equitable Commercial Realty (ECR) represented the undisclosed landlord.

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IndustrialLeasing ActivityTexas

Bradford Commercial Negotiates 4,491 SF Industrial Flex Lease in Metro Dallas

by Taylor Williams

CARROLLTON, TEXAS — Locally based brokerage firm Bradford Commercial Real Estate Services has negotiated a 4,491-square-foot industrial flex lease at Avion Business Center in the northern Dallas suburb of Carrollton. According to LoopNet Inc., the building at 2155 Chenault Drive was constructed in 1984 and totals 24,944 square feet. Jason Finch of Bradford Commercial represented the undisclosed landlord in the lease negotiations. The representative of the tenant, FireTron Inc., a provider of fire extinguishers, was also not disclosed.

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Leasing ActivityRetailTexas

The Little Gym Signs 3,421 SF Retail Lease at Cypress Village Station in Northwest Houston

by Taylor Williams

HOUSTON — The Little Gym, a fitness concept for children, has signed a 3,421-square-foot retail lease at Cypress Village Station in northwest Houston. The 10-year lease brings the 101,272-square-foot center to an occupancy rate of 85 percent. Kevin Sims internally represented the landlord, locally based developer NewQuest Properties, in the lease negotiations. Matt Reed of Shop Cos. represented the tenant. The Little Gym now operates eight facilities in the Houston area.

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DevelopmentMultifamilyNew JerseyNortheast

JMF Properties Opens 125-Unit Apartment Complex in Morris Plains, New Jersey

by Taylor Williams

MORRIS PLAINS, N.J. — Locally based developer JMF Properties has opened The American, a 125-unit apartment complex in the Northern New Jersey community of Morris Plains. Residences come in one- and two-bedroom floor plans with a maximum size of 1,300 square feet. Amenities include a fitness center, coffee bar, conference rooms, a theater, golf simulator, billiards room and outdoor grilling and dining stations. Rents start at $2,775 per month for a one-bedroom unit.

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AcquisitionsHospitalityNortheastVermont

Waterton Acquires 54-Room Hotel in Stowe, Vermont, Plans Repositioning

by Taylor Williams

STOWE, VT. — Chicago-based investment firm Waterton has acquired Town & Country Stowe, a 54-room hotel located near Burlington in upstate Vermont. The site spans 10 acres and is adjacent to Cady Hill Forest. Waterton plans to update the guestrooms and outdoor common areas and add a mix of lofted barn suites and cabins. The seller and sales price were not disclosed. Waterton has tapped Springboard Hospitality to manage the property. f Dave McElroy and Scott Hutchinson of CBRE brokered the deal.

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AcquisitionsMultifamilyNew YorkNortheast

Marcus & Millichap Brokers $6M Sale of Manhattan Apartment Building

by Taylor Williams

NEW YORK CITY — Marcus & Millichap has brokered the $6 million sale of a five-story, five-unit apartment building located at 83 Warren St. in Manhattan’s Tribeca neighborhood. Matt Fotis and Colton Traynham of Marcus & Millichap represented the seller, a private investor, and procured the buyer, a limited liability company, in the transaction. Both parties requested anonymity.

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Leasing ActivityLife SciencesNortheastPennsylvania

bioMérieux Signs 32,000 SF Life Sciences Lease at Philadelphia Navy Yard

by Taylor Williams

PHILADELPHIA — bioMérieux, a French company known for innovations in the field of in vitro diagnostics, has signed a 32,000-square-foot life sciences lease at the Philadelphia Navy Yard. The tenant will occupy most of the second floor of the 137,000-square-foot building at 1201 Normandy Place, which is under construction and nearing a June completion. CBRE brokered the lease. A joint venture between Ensemble Investments and Mosaic Development Partners owns the building.

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