Thursday, May 14, 2026
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Lirica-East-Austin
LoansMultifamilyTexas

JLL Arranges Construction Financing for 338-Unit Multifamily Project in East Austin

by Taylor Williams

AUSTIN, TEXAS — JLL has arranged an undisclosed amount of construction financing for Lirica East Austin, a 338-unit multifamily project that will be located about three miles east of the downtown area. Lirica East Austin will feature studio, one-, two- and three-bedroom units with an average size of 799 square feet and amenities such as a pool, clubroom, fitness center, a leasing office, coworking space and a sky lounge. Doug Opalka, C.W. Sheehan, Scott Dickey and Samantha Jay of JLL arranged the loan on behalf of the borrower, a partnership between CSW Development and Blueprint Local. The direct lender was not disclosed. Completion is slated for early 2026.

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Leon-Capital-Fort-Worth
DevelopmentIndustrialTexas

Leon Capital Group to Develop 261,000 SF Industrial Project in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Dallas-based Leon Capital Group will develop a 261,000-square-foot industrial project in Fort Worth. The site consists of six parcels totaling 15 acres that are located on the north and south sides of Trinity Boulevard on the city’s northeast side. The development will comprise a 123,750-square-foot building and a 137,250-square-foot building, both of which will feature 32-foot clear heights, 135-foot truck court depths and ESFR sprinkler systems. Nancy Halliday and Don Plunk of Emory Associates represented Leon Capital and the four different sellers in the acquisition of the land. Construction is scheduled to begin in the second quarter of 2024.

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Palm-Valley-Goodyear-AZ
AcquisitionsArizonaRetailWestern

RA Centers Buys 232,573 SF Palm Valley Pavilions West Retail Property in Goodyear, Arizona

by Amy Works

GOODYEAR, ARIZ. — Raymond Arjmand of RA Centers has acquired Palm Valley Pavilions West, a power retail center in Goodyear, and named Vestar as the manager for the 232,573-square-foot property. Palm Valley Pavilions West is 99 percent occupied by national tenants, including Best Buy, Total Wine & More, Barnes & Noble, Ulta Beauty and Ross Dress for Less. Vestar operates a total of 63 open-air shopping centers across the Western United States totaling more than 30 million square feet. Vestar oversees Desert Ridge Marketplace, Tempe Marketplace and Scottsdale Promenade in the Phoenix metro area. Michael Hackett and Ryan Schubert of Cushman & Wakefield represented the undisclosed seller in the transaction and facilitated the sale. Terms of the transaction were not released.

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Harbor-Warner-Biz-Center-Santa-Ana-CA
AcquisitionsCaliforniaIndustrialWestern

Voit Real Estate Negotiates $11.3M Sale of Harbor Warner Business Center in Santa Ana, California

by Amy Works

SANTA ANA, CALIF. — Voit Real Estate Services has arranged the sale of Harbor Warner Business Center, an industrial business park in Santa Ana. Rexford Industrial sold the asset to a private investment fund for $11.3 million. Located at 2525 S. Harbor Blvd. and 3720-3752 W. Warner Ave., Harbor Warner Business Center features 38,643 square feet of multi-tenant industrial space. At the time of sale, the property was fully leased. Mike Hefner of Voit’s Anaheim office represented the seller and buyer in the transaction. Matt Peters of Voit’s Irvine office represented Rexford in leasing the asset and acted as the local market advisor for the transaction.

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9723-Federal-Dr-Colorado-Springs-CO
AcquisitionsColoradoNet LeaseRestaurantRetailWestern

1031 Exchange Buyer Acquires Shake Shack-Occupied Property in Colorado Springs for $5.3M

by Amy Works

COLORADO SPRINGS, COLO. — An Oregon-based 1031 exchange buyer has purchased the ground lease of a restaurant asset located at 9723 Federal Drive in Colorado Springs. An undisclosed developer sold the asset for $5.3 million. A new double-drive-thru Shake Shack occupies the asset on a 15-year absolute triple-net ground lease. The property is adjacent to a 115,000-square-foot Scheels at the intersection of Interstate 5 and Interquest Parkway. Drew Isaac, James Rassenfoss and Ian Hicks of Marcus & Millichap’s Denver office represented the seller in the deal.

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4475-Forrest-Hill-Rd-Colorado-Springs-CO
AcquisitionsColoradoNet LeaseRetailWestern

Marcus & Millichap Brokers $3.3M Sale of Retail Building in Colorado Springs

by Amy Works

COLORADO SPRINGS, COLO. — Marcus & Millichap has arranged the sale of a retail building located at 4475 Forrest Hill Road in Colorado Springs. A developer sold the asset to an individual/personal trust for $3.3 million. Bank of America occupies the building on a 13-year absolute triple-net ground lease. Drew Isaac and James Rassenfoss of Marcus & Millichap’s Denver office represented the seller, while Rich Merryman, Ryan Wilmer and Bill Schofield of Marcus & Millichap’s San Francisco office represented the buyer in transaction.

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7872-Liberty-Dr-Huntington-Beach-CA
AcquisitionsCaliforniaMultifamilyWestern

CBRE Arranges $2.4M Sale of Multifamily Property in Huntington Beach, California

by Amy Works

HUNTINGTON BEACH, CALIF. — CBRE has arranged the purchase of a multifamily property in Huntington Beach. A San Diego-based 1031 exchange buyer acquired the asset from a Huntington Beach-based private investor for $2.4 million, or $479,000 per unit. Located at 7872 Liberty Drive, the two-story, 3,604-square-foot building features five apartments in a mix of one-, two- and three-bedroom layouts. All units feature spacious floorplans with patios or balconies. The property also offers garage parking and a laundry facility. Recent improvements include full renovations to two units, a new central water heater, updated windows, garage doors, exterior paint and landscaping. Dan Blackwell and Amanda Fielder of CBRE represented the buyer in the transaction.

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AcquisitionsRetailTexas

NewQuest Properties Sells 14,487 SF Retail Strip Center in Manvel, Texas

by Taylor Williams

MANVEL, TEXAS — Locally based owner-operator NewQuest Properties has sold The Shops at Sedona Lakes, a 14,487-square-foot retail strip center located in the southern Houston suburb of Manvel. The center was built on 1.6 acres in 2020 and was 91.5 percent leased at the time of sale. Marc Peeler, Rick Ragan, Thomas Turner and Dakota Workman represented NewQuest in the transaction on an internal basis. Johnny Yun represented the buyer, HousKor Realty & Management LLC, also on an internal basis.

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IndustrialLeasing ActivityTexas

RAM Surgical Supplies Signs 11,799 SF Industrial Lease in DeSoto, Texas

by Taylor Williams

DESOTO, TEXAS — RAM Surgical Supplies has signed an 11,799-square-foot industrial lease at Falcon Centre, a 68,098-square-foot complex located in the southern Dallas suburb of DeSoto. Brian Pafford and Michael Spain of Bradford Commercial Real Estate Services represented the landlord, OMO Bros Enterprises, in the lease negotiations. Sarah Mitchell of Mote & Associates represented the tenant, which plans to move in on Jan. 1, 2024.

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AcquisitionsAffordable HousingDevelopmentHospitalityMultifamilyNew YorkNortheast

Slate, RiseBoro Buy 350-Room Hotel Near JFK Airport, Plan Affordable Housing Conversion

by Taylor Williams

NEW YORK CITY — A partnership between locally based developer Slate Property Group and RiseBoro Community Partnership has purchased the 350-room JFK Hilton Hotel in Queens with plans to convert the property into a 318-unit affordable housing complex. The partnership purchased the hotel, which was originally built in 1987 and is located about half a mile from JFK International Airport, for $64 million. The new complex will be known as Baisley Pond Park Residences and will house studio, one- and two-bedroom units and amenities such as a fitness center, computer lounge and multiple common rooms. Monthly rents will range from $784 for a studio to $1,493 for a two-bedroom apartment. As part of the conversion, the development team will replace all major building and mechanical systems, including new all-electric heating and cooling systems to reduce emissions. Aufgang Architects is designing the project, which has a total price tag of about $167 million and is expected to take about 21 months to complete.

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