Property Type

ECI Group Sells 318-Unit Columns at Westchase Apartments in Houston

by Taylor Williams December 6, 2023

HOUSTON — Atlanta-based investment firm ECI Group has sold The Columns at Westchase, a 318-unit apartment community in Houston, to Mosaic Residential for an undisclosed price. Built in 1999, The Columns at Westchase offers one-, two- and three-bedroom units and amenities such as a pool, fitness center, clubhouse and outdoor grilling and dining stations. ECI acquired the property in 2018 and implemented capital improvements to unit interiors, building exteriors, landscaping and amenity spaces. David Mitchell of Newmark represented ECI Group in the transaction.

December 6, 2023

Leasing Activity Office Texas

CBRE Negotiates 52,120 SF Office Headquarters Lease in Houston

by Taylor Williams December 6, 2023

HOUSTON — CBRE has negotiated a 52,120-square-foot office headquarters lease at Westway II, a 10-story building located near Houston’s Energy Corridor area. Abby Alford and Lucian Bukowski of CBRE represented the tenant, Texas-based consulting firm Cobb, Fendley & Associates, in the lease negotiations. Chip Colvill of Cushman & Wakefield represented the undisclosed landlord. The lease term is 10 years. Kirksey designed the space, which spans two floors, and Arch-Con Corp. handled the build-out.

December 6, 2023

Industrial Leasing Activity Texas

ADG Concepts Signs 45,000 SF Industrial Lease in Saginaw, Texas

by Taylor Williams December 6, 2023

SAGINAW, TEXAS — ADG Concepts has signed a 45,000-square-foot industrial lease in Saginaw, a northern suburb of Fort Worth. The provider of air compression systems will relocate from nearby Haltom City to adjacent suites at Blue Mound Industrial Park, a 164,152-square-foot development. Jason Finch, Richard Hitz and Michael Spain of Bradford Commercial Real Estate Services represented the landlord, Dallas-based Blue Ridge Industrial, in the lease negotiations. Niko Padilla of Mercer Co. represented the tenant.

December 6, 2023

Leasing Activity Retail Texas

Tanishq Opens Two Stores Totaling 8,800 SF in Texas

by Taylor Williams December 6, 2023

HOUSTON AND FRISCO, TEXAS — Indian jewelry retailer Tanishq has opened two new stores totaling 8,800 square feet in Texas. The stores at 2335 Post Oak Blvd. in Houston and 2809 Preston Road in Frisco comprise 3,800 and 5,000 square feet, respectively, and mark the second and third locations in the country for the brand. Tanishq opened its flagship store in Northern New Jersey earlier this year.

December 6, 2023

Development Loans Multifamily New York Northeast

Bank OZK Provides $95M Construction Loan for Manhattan Multifamily Project

by Taylor Williams December 6, 2023

NEW YORK CITY — Bank OZK has provided a $95 million construction loan for a 194-unit multifamily project that is under construction at 300 E. 50th St. in Manhattan’s Turtle Bay neighborhood. Designed by BKSK Architects, the 23-story building will feature studio, one-, two- and three-bedroom units and amenities such as a fitness center, coworking lounge, rooftop garden, grilling terrace and a catering kitchen. The project also includes 4,888 square feet of commercial space, and 30 percent of the units will be reserved as affordable housing. The borrower and developer is a joint venture between locally based developer MAG Partners, global investment firm Safanad and Global Holdings Management Corp. Completion is scheduled for late 2025.

December 6, 2023

Hospitality Loans Massachusetts Northeast

JLL Arranges Refinancing of 164-Room Copley Square Hotel in Boston

by Taylor Williams December 6, 2023

BOSTON — JLL has arranged a loan of an undisclosed amount for the refinancing of the 164-room Copley Square Hotel in Boston’s Back Bay area. The seven-story boutique hotel was recently renovated and offers a fitness center, communal kitchen and multiple onsite food-and-beverage options. Mike Huth, Amy Lousararian, Maddie Blount and Brandon Smith of JLL arranged the loan through an undisclosed lender on behalf of the borrower, Hawkins Way Capital.

December 6, 2023

Acquisitions Multifamily New Jersey Northeast

CBRE Brokers $5.5M Sale of Multifamily Development Site in North Bergen, New Jersey

by Taylor Williams December 6, 2023

NORTH BERGEN, N.J. — CBRE has brokered the $5.5 million sale of a 30,000-square-foot multifamily development site in North Bergen, located across the Hudson River from Manhattan. The site at 8709 River Road is located across from the Edgewater Harbor lifestyle center. Fahri Ozturk, Richard Gatto, Zach McHale and Jeff Babikian of CBRE represented the seller, AIRN Management, in the transaction and procured an undisclosed, locally based developer as the buyer.

December 6, 2023

Connecticut Industrial Leasing Activity Northeast

First Student Signs 31,000 SF Industrial Lease Renewal in Stamford, Connecticut

by Taylor Williams December 6, 2023

STAMFORD, CONN. — School bussing services provider First Student has signed a 31,000-square-foot industrial lease renewal in the southern coastal Connecticut city of Stamford. The space at 316 Courtland Ave. spans 115,453 square feet and features clear heights of 12 to 17 feet, nine drive-in bays, 243 parking spaces and research and development/office space. Both the tenant and the landlord, Simone Development Cos., were self-represented in the lease negotiations.

December 6, 2023

Leasing Activity New York Northeast Office

Cushman & Wakefield Negotiates 6,780 SF Office Lease in Manhattan’s Plaza District

by Taylor Williams December 6, 2023

NEW YORK CITY — Cushman & Wakefield has negotiated a 6,780-square-foot office lease at 600 Lexington Avenue in Manhattan’s Plaza District. The tenant, private equity funds manager Hollyport Capital, will occupy the entire 27th floor of the 36-story, 305,472-square-foot building. Harry Blair, Connor Daugstrup and Bianca DiMauro of Cushman & Wakefield represented the landlord, Lex NY Equities LLC, in the lease negotiations. Tim Gibson and Harry Singer of Newmark represented the tenant.

December 6, 2023

California Development Multifamily Student Housing Western

McCarthy Building Co. Breaks Ground on $285M Student Housing Project at University of California, Riverside

by Amy Works December 6, 2023

RIVERSIDE, CALIF. — McCarthy Building Cos. has broken ground on the $285 million North District Phase II student housing development at University of California, Riverside (UCR). The intersegmental projects, one of the first of its kind in California, will house students from UCR and Riverside Community College District (RCCD). The 424,000-square-foot project will feature 429 single- and double-occupancy apartment-style units ranging from one to four bedrooms complete with kitchen/living room spaces, high-speed Wi-Fi, air conditioning and designated study areas. Additionally, the community will feature a café/market, recreation fields and a central park. The project has received funding through the State Higher Education Student Housing Grant Program to provide affordable beds for UCR and RCCD students, bringing the total number of beds to 1,568. The first students are expected to move-in in 2025.

December 6, 2023

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