ROWLETT, TEXAS — North Carolina-based investment firm Prudent Growth Partners has acquired Scenic Square, a 28,850-square-foot retail center in Rowlett, approximately 20 miles northeast of Dallas. The sales price was $7.4 million. The center was fully leased at the time of sale to tenants including Baylor Scott & White Outpatient Rehabilitation, HealthPro Pharmacy & Wellness Center, Eagle Food Beer & Wine, Wanda’s Studio and The Track Grill and Bar. The seller was not disclosed.
PLANO, TEXAS — WeWork will expand its coworking space in Plano by 26,888 square feet. Upon opening in the coming weeks, the space will span 53,776 square feet across two floors within Legacy Town Center, located at 6900 N. Dallas Parkway. In addition to the coworking lounge, the space also offers collaborative meeting rooms and turnkey private offices. California-based KBS owns Legacy Town Center.
Gilbane Development Breaks Ground on Office-to-Residential Conversion Project in Arlington, Virginia
ARLINGTON, VA. — Gilbane Development has begun the conversion of a six-story, 121,200-square-foot vacant office building at 3601 Wilson Blvd. in Arlington’s Virginia Square neighborhood. Dubbed Renley, the redevelopment will deliver 94 multifamily units in one- through three-bedroom configurations. Situated adjacent to the Virginia Square-GMU Metro station, Renley is one of the first projects to leverage Arlington County’s updated adaptive reuse policy, which was adopted in November 2024. The policy was designed to streamline office-to-residential conversions and create incentives for developers to bring underutilized office buildings “back to life.” Renley is targeted for completion in April 2027. Gilbane Development originally acquired the property in March 2025. The redevelopment plan will preserve the building’s exterior, while updating the entire interior. Resident amenities will include a wellness center, coworking spaces, lounges, gathering areas and tenant storage on every floor. Renley will also offer 5,637 square feet of ground-floor retail space and 207 parking spaces located in an underground garage.
DURHAM, N.C. — Welcome Group has executed a 100,100-square-foot full-building lease at Welcome Venture Park, an industrial and flex business park under construction in Durham. The undisclosed tenant will occupy Building C at the property. Larry Lakins, Andrew Young, Hunter Willard and Shields Liggett of Colliers represented Welcome Group, while Doug Brock of Newmark represented the tenant. Welcome Venture Park will total 1.3 million square feet across 10 buildings upon completion of all four phases. Phase I comprises nearly 395,000 square feet across four buildings and is more than 90 percent leased. Existing tenants include Cavalier Logistics, the Food Bank of Central & Eastern North Carolina, Great Day Improvements, Mobile Communications America (MCA), PEP Move and DeHaven’s Transfer & Storage. Scheduled for delivery in fall 2026, Phase IIA consists of Buildings C and H and totals approximately 200,550 square feet. Building C is fully leased, while Building H offers 100,450 square feet available for lease. City Bank is financing Phase IIA. Phase IIB, which will include an additional 439,560 square feet across Buildings I and J, is anticipated to deliver in late 2027 and early 2028. The overall development is designed to accommodate manufacturing, laboratory, warehouse, distribution and technology-focused users. …
NEWTOWN COUNTY, GA. — Hillpointe has opened Pointe Grand Covington, a 216-unit attainable multifamily community located at 8000 Revolution Way in Covington, about 36 miles east of Atlanta. Pointe Grand Covington features two-bedroom residences with modern finishes, smart home technology and in-unit amenities, such as full-size washers and dryers, digital keyless entry and private patios or balconies. Community amenities at the pet-friendly property include a resort-style swimming pool, fitness center, pickleball court, electric vehicle charging stations and a variety of indoor and outdoor gathering spaces.
KNOXVILLE, TENN. — ARK Homes for Rent has begun pre-leasing efforts for The Reserve at Three Ridges, a 126-unit build-to-rent townhome community located in northeast Knoxville. The community offers three- and four-bedroom homes ranging in size from 1,381 to 1,554 square feet. Interiors include open layouts, granite countertops, stainless steel appliances, smart home technology and walk-in closets, as well as attached garages. In addition, The Reserve at Three Ridges features direct access to I-40 and connections to major employers like Oak Ridge National Laboratory, Covenant Health, DENSO Manufacturing and the University of Tennessee.
NORTH BERGEN, N.J. — Madison Realty Capital has provided a $61 million bridge loan for Braddock Park West, a 10-story apartment building located outside of New York City in North Bergen. Completed earlier this year, Braddock Park West features 135 units in studio, one- and two-bedroom floor plans with an average size of 801 square feet. Amenities include a fitness center, coworking lounge and a rooftop terrace. Jordan Casella, Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz and Cole Grims of Walker & Dunlop arranged the floating-rate loan on behalf of the owner, Sanz Property Management.
NEW YORK CITY — A joint venture between Slate Property Group and Thorobird Cos. has broken ground on a 213-unit multifamily project in Brooklyn. Designed by Think! Architecture + Design PLLC, the building will be located on a city-owned site at 570 Eldert Lane in the borough’s Cypress Hills area. Of the 213 units, which will come in one-, two-, three- and four-bedroom floor plans, 66 will be set aside for formerly homeless residents. The remaining units will be reserved for households earning between 40 and 80 percent of the area median income. Completion is slated for summer 2028, with full occupancy planned for 2029.
HALFMOON, N.Y. — JLL has negotiated the sale of The Kensington at Halfmoon, a 200-unit apartment complex located on the northern outskirts of Albany. Built in 2014, the property features one- and two-bedroom units with an average size of 1,228 square feet. Amenities include a pool, fitness center, dog park, movie theater, coffee bar and a resident clubhouse. Steve Simonelli, Jose Cruz and Austin Pierce of JLL represented the seller, Richbell Capital, in the transaction. JLL also arranged an undisclosed amount of acquisition financing for the deal on behalf of the buyer, MLG Capital.
BUFFALO, N.Y. — Locally based financial intermediary Largo Capital has arranged a $17.5 million permanent loan for a 275,000-square-foot industrial building in Buffalo. The building, the address of which was not disclosed, was built in the early 2000s and can support both warehouse and manufacturing uses. The direct lender and borrower were not disclosed. Jack Phillips led the transaction for Largo Capital. The building was fully leased at the time of the loan closing.