Thursday, July 9, 2026
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AcquisitionsDevelopmentIllinoisIndustrialMidwest

Bridge Industrial Acquires 22-Acre Site in Suburban Chicago, Plans to Build 292,011 SF Spec Project

by Kristin Harlow

BOLINGBROOK, ILL. — Bridge Industrial has acquired a 22-acre site in Bolingbrook within the I-55 submarket. The developer plans to build Bridge Point I-55 Commerce Center, a two-building speculative industrial project totaling 292,011 square feet. Bridge acquired the site from Chicagoland-based Orange Crush LLC, which previously used the facility as an asphalt crushing and transloading facility. Construction is scheduled to begin in the second quarter with completion slated for mid-2025. Dan Leahy of NAI Hiffman represented Bridge in the sale and will serve as the leasing agent for the development.

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LoansNew YorkNortheastOfficeRetail

JLL Arranges $33M Loan for Refinancing of Manhattan Office, Retail Building

by Taylor Williams

NEW YORK CITY — JLL has arranged a $33 million loan for the refinancing of 111 West 19th Street, an eight-story, 189,731-square-foot office and retail building in Manhattan’s Chelsea neighborhood. The building was originally constructed in 1901 and comprises eight suites, according to StreetEasy.com. Aaron Niedermayer of JLL arranged the financing through Citigroup Inc. on behalf of the borrower, locally based investment firm The Kaufman Organization.

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AcquisitionsCivicLee & AssociatesNew YorkNortheastRetail

Lee & Associates Negotiates $18.2M Sale of Historic Building in Manhattan

by Taylor Williams

NEW YORK CITY — Lee & Associates has negotiated the $18.2 million sale of the Clock Tower Building, a 20,000-square-foot historic bank hall located at 46 Lafayette St. in Manhattan’s Tribeca neighborhood. Peter Braus, Brad Schwarz and Cory Gahr of Lee & Associates represented the seller, locally based investment firm Elad Group, in the transaction. Anne-Brigitte Sirois from ART STATE LLC represented the buyer, Jack Shainman Gallery, which plans to new art exhibition venue at the property.

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Leasing ActivityNew JerseyNortheastOffice

Eikon Therapeutics Signs 36,284 SF Office Lease in Jersey City

by Taylor Williams

JERSEY CITY, N.J. — Biotechnology firm Eikon Therapeutics has signed a 36,284-square-foot office lease at 3 Second Street, an 18-story, 600,000-square-foot building in Jersey City. The building boasts a redesigned lobby with concierge services, tenant lounge and multiple onsite dining options. David DeMatteis, Robert Rudin, Mina Shehata and Dirk Hrobsky of Cushman & Wakefield represented the landlord, funds managed by Ares Management, in the lease negotiations. Bill Hartman and James Gale of CBRE represented Eikon Therapeutics.

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The-Great-290-Distribution-Center
Conference CoverageIndustrialMarket ReportsTexasTexas Market Reports

InterFace Panel: Positive Absorption Illustrates Health of Houston Industrial Market, But Sublease Supply Is Worth Monitoring

by Taylor Williams

By Taylor Williams The Houston industrial market has generally performed quite well over the past few years, even as a global pandemic, record inflation and hard-hitting interest rate hikes have rocked the commercial real estate industry as a whole. Demand for industrial space has held firm due to rebounding energy prices and expansions in infrastructure and traffic at Port Houston, as well as organic population growth and economic diversification that has elevated the market’s role as a distribution hub. According to data from CBRE, the market has a 6 percent vacancy rate and posted 5.1 million square feet of positive net absorption through the first three quarters of 2023. The volume of new construction was on track to outpace absorption in 2023 when the report was released. But that was not the case in 2021 and 2022, years in which net absorption equaled and exceeded 7 million square feet, respectively. New deliveries totaled approximately 5.6 million and 5.4 million square feet in each of those years, driven not only by the aforementioned factors but also by a temporary uptick in demand for e-commerce services in the wake of the pandemic. In any market or asset class, when absorption exceeds supply …

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ArizonaDevelopmentMixed-UseTop StoriesWestern

GTIS Partners, Clyde Capital Plan $250M Asante Trails Mixed-Use Project in Surprise, Arizona

by Kristin Harlow

SURPRISE, ARIZ. — A joint venture between GTIS Partners and Clyde Capital has released plans for Asante Trails, a $250 million mixed-use project in Surprise, a suburb of Phoenix. The development will feature a build-to-rent community, retail space and a medical facility, all of which will be built across 90 acres of land. In conjunction with the land acquisition, GTIS and Clyde sold 20 acres within the project site to HonorHealth, one of Arizona’s largest hospital systems, to develop the medical facility. Additionally, 45 acres will be allocated to a joint venture between Clyde and Simon CRE for the development of a multi-phase retail center. GTIS will retain the 25-acre balance of the site for build-to-rent homes. GTIS and Clyde initially pursued the property in April 2021 and took the project through a rezoning and site planning approval process as they secured entitlements. The site is 40 miles northwest of downtown Phoenix, located along North 163rd Avenue and bound by U.S. Highway 60 and Pat Tillman Boulevard. It is directly across from a 175,000-square-foot retail center and is about one mile from a Loop 303 interchange, providing convenient access to the 303 industrial corridor. “We are excited about delivering more …

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Margaritaville-Galveston
DevelopmentHospitalityTexas

RREAF Holdings, Innisfree Hotels to Develop $250M Margaritaville Resort in Galveston, Texas

by Taylor Williams

GALVESTON, TEXAS — Dallas-based investment firm RREAF Holdings, in partnership with Gulf Coast owner-operator Innisfree Hotels, will develop a $250 million Margaritaville Hotel & Resort in Galveston. The 334-room, 300,000-square-foot hotel will feature a 2.5-acre elevated waterpark, a lazy river, pickleball courts, family entertainment center, four restaurants and direct beach access, as well as other features activities and amenities with themes from the music of the late Jimmy Buffett. Construction is scheduled to begin in May or June. A tentative completion date was not disclosed.

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DevelopmentMultifamilyRetailTexas

McLeod Cobb Reveals Construction Updates, New Tenants at $100M Development in Portland, Texas

by Taylor Williams

PORTLAND, TEXAS — McLeod Cobb Investments has revealed construction updates and new tenant signings at Oliver’s Way, the firm’s $100 million multifamily and retail development in the South Texas city of Portland. A 128,500-square-foot Target store that will anchor the retail component is nearing completion and will open late this summer. Construction will also soon begin on a 13,800-square-foot freestanding retail building. McLeod Cobb has secured deals with retailers such as Jack in the Box, Brake Check, Raising Cane’s, Chipotle Mexican Grill, Aspen Dental, Five Guys, James Avery and Wells Fargo. The development team expects to begin construction on the apartments later this year.

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AcquisitionsIndustrialTexas

Finial Group Arranges Sale of 190,714 SF Industrial Park in North Houston

by Taylor Williams

HOUSTON — Locally based brokerage firm Finial Group has arranged the sale of a 190,714-square-foot industrial park in North Houston. The master-planned development comprises nine buildings on a 15.1-acre site at 1531-15342 Vantage Parkway E. A family office sold the park to a private equity group for an undisclosed price, with both parties requesting anonymity. Keith Bilski, Dylan Schopper, Jack Gaffney, Chase Tucker and John Buckley of Finial Group brokered the deal.

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IndustrialLeasing ActivityTexas

Lockheed Martin Signs 136,165 SF Industrial Lease in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Lockheed Martin has signed a 136,165-square-foot industrial lease in Fort Worth. The aerospace and defense contractor will take space at Fort West Commerce Center, a three-building, 531,601-square-foot development that sits on a 30-acre site on the city’s north side. Todd Burnette and John Davidson of JLL represented Lockheed Martin in the lease negotiations. Matt Carthey and George Jennings of Holt Lunsford Commercial represented the landlord, Phoenix-based Creation Equity. 

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