Property Type

CBRE Arranges Sale of 21-Story Office Tower in Downtown Cleveland

by Kristin Harlow October 7, 2025

CLEVELAND — CBRE has arranged the sale of 1100 Superior Avenue, a 21-story office tower totaling 576,500 square feet in downtown Cleveland. The sales price was $8.1 million, according to Crain’s Cleveland Business. Steve Timmel, Will Roberts, Jamie Dunford, Warren Blazy III and Eric Smith of CBRE represented the seller, LNR Partners LLC. Brady Sullivan Properties was the buyer. Built in 1972 and renovated in 2006 and 2013, the building features amenities such as a fitness center, tech hub, conference facilities, a café, public event center and 435-stall parking garage.

October 7, 2025

Affordable Housing Development Midwest Minnesota Multifamily

Lupe Completes 110-Unit Affordable Housing Community in Minneapolis

by Kristin Harlow October 7, 2025

MINNEAPOLIS — Lupe Development Partners has completed Lakefield Apartments, a 110-unit affordable housing community in the Lyn-Lake area of Minneapolis. The project marks a collaboration between Lupe and the city to address affordable housing needs. The development was originally planned to include 95 units before the developer acquired an additional parcel and expanded the project to 110 family-sized units, including more three- and four-bedroom layouts. As of September, the project was 70 percent leased. The development concludes the third phase of Lupe’s mixed-income campus on Lake Street near the Lyndale Avenue intersection. In total, the campus has brought 353 units of affordable and market-rate housing along Lake Street in the past five years. The $41 million project was made possible through collaboration with the city, Multifamily Housing Revenue Bonds, Hennepin County, Minnesota Department of Employment and Economic Development and housing tax credit equity. Frana Cos. served as general contractor.

October 7, 2025

Indiana Industrial Leasing Activity Midwest

Associated Signs 89,612 SF, Full-Building Industrial Lease in Indianapolis

by Kristin Harlow October 7, 2025

INDIANAPOLIS — Associated has signed a full-building, 89,612-square-foot industrial lease at The Midway Building at 5770 Decatur Blvd. in Indianapolis. Corey Chase of Newmark represented the tenant in the lease, which represents a nearly 60,000-square-foot expansion from Associated’s previous space in the same corridor. Owned by Holladay Properties, the facility features 5,425 square feet of office space, a clear height of 24 feet, 21 dock doors, two drive-in doors and more than 250 parking spaces. Delivered in 2004, The Midway Building offers convenient access to I-70, I-465 and I-69 and is located near FedEx and UPS distribution hubs. Brian Seitz, Griffin Seitz and Brian Buschuk of JLL represented the landlord. Founded in 1960, Associated provides engineering, fleet management and labor optimization services supported by equipment sales, service, rentals and parts. The company is a subsidiary of The Raymond Corp., a Toyota Industries company.

October 7, 2025

Acquisitions Industrial Michigan Midwest Self-Storage

Marcus & Millichap Brokers Sale of 635-Unit Self-Storage Facility in Plymouth, Michigan

by Kristin Harlow October 7, 2025

PLYMOUTH, MICH. — Marcus & Millichap has brokered the sale of EZ Storage, a 635-unit self-storage facility in the western Detroit suburb of Plymouth. Completed in December 2022, the climate-controlled property totals 73,450 net rentable square feet. Brett Hatcher, Gabriel Coe and Nathan Coe of Marcus & Millichap, in association with Paul Kerber, Marcus & Millichap’s Michigan broker of record, represented the seller, an entity doing business as EZ Storage Plymouth Twp LLC. The buyer was not disclosed.

October 7, 2025

Acquisitions Illinois Industrial Midwest

NAI Hiffman Negotiates $2.6M Sale of Industrial Building in Wood Dale, Illinois

by Kristin Harlow October 7, 2025

WOOD DALE, ILL. — NAI Hiffman has negotiated the $2.6 million sale of a 20,541-square-foot industrial building at 344 Beinoris Drive in the Chicago suburb of Wood Dale. Joe Bronson and Paddy Dwyer of NAI Hiffman represented the buyer, a metal manufacturing company that bails, stores and distributes scrap metals nationwide. The buyer will nearly triple its previous footprint of about 7,000 square feet, also in Wood Dale. With heavy power infrastructure and outdoor storage capacity, the facility enables the manufacturer to expand processing and storage while maintaining its presence in the O’Hare submarket.

October 7, 2025

Arizona Development Hospitality Leasing Activity Mixed-Use Retail Top Stories Western

Partnership Announces Costco, Marriott Hotels Coming to $7B Halo Vista Development in Phoenix

by John Nelson October 7, 2025

PHOENIX — A partnership between Mack Real Estate Group and McCourt Partners has announced updates for the first phase of Halo Vista, the co-developers’ $7 billion, 2,300-acre mixed-use campus in northwest Phoenix. Halo Vista is set to surround TSMC Arizona, the $165 billion semiconductor fabrication campus. The co-developers, which are operating as an entity doing business as Mack Halo Vista LLC, announced that the project will include a new Costco store, two Marriott-branded hotels (a Courtyard by Marriott and a Residence Inn) and an auto mall (i.e. a cluster of car dealerships). Locally based firm Common Bond Development Group is developing the hotels after acquiring the land from Mack Halo Vista. “Today’s confirmation of the first phase of hospitality and retail users marks an important milestone for Halo Vista because it will enable our project to deliver much-needed services in support of the growing TSMC ecosystem, while we simultaneously continue to focus on horizontal infrastructure development that underpins the entire master plan,” says Chris Janson, president of Mack Halo Vista LLC. The new buildings will be situated at I-17 and Dove Valley Road. Infrastructure is in place and ready for development, according to the developers. Last year, the Arizona State …

October 7, 2025

Market Reports Multifamily Texas Texas Market Reports

Multifamily at a Crossroads: Why Now May Be the Time to Invest in Texas

by Taylor Williams October 7, 2025

By Mitch Faccio, senior vice president, MLG Capital Texas’ multifamily market is at a unique inflection point. After several years of historic levels of new construction and softening fundamentals, conditions are shifting in ways that may benefit current owners and new investors. Slowing development, sustained population growth and the widening affordability gap between renting and owning are creating conditions that seem to favor existing assets. A Market Reset After Record Construction Over the last several years, multifamily development surged in Texas. Dallas-Fort Worth, Houston, San Antonio and other metros all experienced a wave of new supply that outpaced demand. By 2023 and 2024, this boom in development had led to softer occupancies, higher concessions and flat or even declining rents. Net operating income (NOI) growth slowed as the market absorbed this record wave of deliveries, according to data from CoStar Group and RealPage. Now, that dynamic seems to be shifting. Construction costs have risen faster than achievable rents, making new developments financially difficult to justify, according to data from RealPage and the 2024 Turner Construction Index. In fact, multifamily starts in many Texas metros are down significantly from recent peaks. As a result, many planned projects have stalled, and the supply …

October 7, 2025

Development Multifamily Texas

Partnership Delivers 40-Story Apartment Tower Near Downtown Houston

by Taylor Williams October 6, 2025

HOUSTON — A partnership between locally based owner-operator Hanover Co., Dallas-based Rebees and Mitsui Fudosan America has delivered a 40-story apartment tower located about two miles west of downtown Houston. Hanover Buffalo Bayou is located within the 14-acre Autry Park mixed-use development along the western edge of the 160-acre Buffalo Bayou Park. The building consists of 317 units in one-, two- and three-bedroom formats with an average size of 1,276 square feet, as well as 5,000 square feet of retail space. Amenities include a landscaped courtyard with a pool, outdoor grilling and dining stations, a clubhouse with a demonstration kitchen, fitness center, cinema, business center and a game room. Rents start at approximately $2,600 per month for a one-bedroom apartment.

October 6, 2025

Affordable Housing Development Multifamily Texas

Dallas Housing Authority Secures $69M Bond Reservation to Renovate Two Affordable Communities

by Taylor Williams October 6, 2025

DALLAS — The Housing Authority of the City of Dallas (DHA) has secured a $69 million bond reservation for the renovation of Roseland Townhomes and Roseland Estates, two affordable housing communities in Central Dallas. The bond reservation represents an early piece of the capital stack that enables DHA to receive 4 percent Low-Income Housing Tax Credits (LIHTC). The renovation will include new kitchens, bathrooms, plumbing, flooring, appliances and fixtures in the properties’ 274 units. DHA will also upgrade the recreation center, building infrastructure, security and landscaping. Completion is slated for 2027.

October 6, 2025

Development Hospitality Texas

NewcrestImage Completes Renovation of 175-Room Elmore Hotel in Southlake, Texas

by Taylor Williams October 6, 2025

SOUTHLAKE, TEXAS — Locally based hospitality owner-operator NewCrestImage has completed the renovation of the 175-room Elmore Hotel in Southlake, located northeast of Fort Worth. The renovation of the four-story hotel, which originally opened in 2016, lasted about a year and carried a multimillion-dollar price tag. Amenities include a fitness center, outdoor pool, 5,000 square feet of meeting and event space and an onsite bar and restaurant. Coury Hospitality manages the property.

October 6, 2025

Newer Posts

Older Posts