DALLAS — Financial advisory firm Preston Hollow Community Capital has relocated its office headquarters from Comerica Bank Tower to PwC Tower at Park District in Uptown Dallas. The space overlooks Klyde Warren Park and spans 15,000 square feet. The firm’s new headquarters space on the sixth floor was designed by BHA and built out by Metroplex General Contractors. Scott Hage of JLL represented the tenant in the lease negotiations. MetLife Investment Management owns the 20-story, 500,000-square-foot building.
CHICAGO — McHugh Construction has topped out construction of Cassidy on Canal, a 33-story apartment tower in Chicago’s Fulton River District. The project team includes co-developers The Habitat Co. and Diversified Real Estate Capital LLC as well as architect Solomon Cordwell Buenz. In a nod to the site’s history, bricks from the former Cassidy Tire building were used a baseline for selecting bricks for the new structure. The 355-foot-tall tower will offer studios, one- and two-bedroom units. The fifth-floor amenity space will include a fitness center, game room, various clubrooms, a coworking center, spa with sauna, pool, sun deck and grilling areas. First move-ins are slated for spring 2024.
OLATHE, KAN. — BCB Development has signed leases with two new tenants at Southpark Commerce Center in Olathe. Rob Holland and Jack Goldsborough of Cushman & Wakefield represented BCB in each of the leases. United Rotary Brush leased the entire 135,000-square-foot Building B. Joe Accurso of Cushman & Wakefield represented the tenant. Groundworks leased the entire 112,550-square-foot Building A. Whitney Freeburn of Flowers Capital Holdings represented the tenant. Southpark Commerce Center consists of three buildings totaling 382,500 square feet and delivered in December. There are 54,000 square feet remaining available for lease in Building C.
BROOK PARK, OHIO — Reynolds Asset Management has acquired Park Place Apartments in Brook Park, a southwest suburb of Cleveland. The purchase price and seller were undisclosed. Northwest Bank provided acquisition financing. Renovations at the property are slated to begin in the next 90 days and are expected to be completed by next summer. Park Place Apartments was originally built in 1955 and more than half of its units were renovated in 2016.
MAPLE GROVE, MINN. — MAS HVAC has signed a 150,000-square-foot industrial lease at Building VI within Arbor Lakes Business Park in the Minneapolis suburb of Maple Grove. The tenant plans to occupy the space beginning in January for its new headquarters, manufacturing and logistics operations. The build-out also includes 15,000 square feet of office space. Brent Masica of Cushman & Wakefield represented the tenant, which moved to the Minneapolis market four years ago.
LA CROSSE AND STURGEON BAY, WIS. — Starbucks has inked two new retail leases in Wisconsin totaling 2,460 square feet each. The first property is located at 2552 Rose St. in La Crosse, while the second is at 911 Green Bay Road in Sturgeon Bay. Tony Colvin of Mid-America Real Estate represented the tenant in each lease. The respective landlords were Eagle Bay Partners LLC and 911 Green Bay Road Partners LLC.
GILBERT, ARIZ. — The Premiere Residential has acquired Soltra at SanTan Village, a 380-unit apartment community in the southeast Phoenix suburb of Gilbert. Leon Multifamily sold the asset for $140 million. Soltra at SanTan Village was built in 2021 at 1690 South San Tan Village Parkway. Units come in studio, one- and two-bedroom layouts. Amenities include a clubhouse with an entertainment table, fitness center and pool with a swim-up hospitality bar and cabanas. Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen of CBRE represented the seller.
SALEM, ORE. — Hampstead Development Partners has received $20.4 million in financing for the acquisition and renovation of Salem Manor, a 64-unit affordable housing community in Salem. KeyBank Community Development Lending and Investment (CDLI) provided a $4 million construction loan and $6.3 million in Low-Income Housing Tax Credits (LIHTC). KeyBank also arranged $10.1 million in permanent financing through Freddie Mac. John Paul Vachon, Matthew Haas and Hector Zuniga of KeyBank CDLI structured the financing. Salem Manor is subsidized by a Section 8 Housing Assistant Payment contract and is affordable to households earning at or below 60 percent of the area median income. Hampstead plans to conduct a $4 million rehabilitation of the 10-building property. Renovations include updating kitchens and bathrooms, full ADA accessibility upgrades to select units, exterior updates such as new windows and repainting, upgrades to the buildings electrical system and a new fitness center.
SEATTLE — Colliers has facilitated the sale of Northlynn Mini-Storage, a self-storage property in the Lynnwood area of Seattle. Located at 15620 Highway 99, the 57,700-square-foot facility contains ground-floor units with drive-up and interior units ranging from 5feet by 5 feet to 10 feet by 20 feet, as well as two dozen rentable parking spaces. The buyer has planned a substantial renovation for the property, which is designed to enhance the appeal for the 134,000 people living within three miles of the facility. The property will be rebranded as SecureSpace Self Storage Lynnwood. Colliers’ de Jong | Becher Self Storage Team consisting of Jacob Becher, Nate Fliflet, Dana Chobor and Tom de Jong represented the seller, Lanswell Development Corp. The buyer, GCP SecureSpace Properties LLC, engaged in negotiations with the team to secure the transaction.
BUCKEYE, ARIZ. — Arizona Land Consulting has acquired an industrial site in the West Valley region of Buckeye for $24 million. The size is zoned for industrial and features resources, such as access to water, that make it an appealing investment opportunity. The female-owned real estate consulting firm now boasts about $1 billion in assets.