NEW PROVIDENCE, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated a 26,653-square-foot office headquarters lease in New Providence, about 30 miles west of New York City. The tenant is nonprofit organization Our House, and the space is located within the 171,216-square-foot building at 41 Spring St. Matthew LoBocchiaro of Kislak represented the tenant in the lease negotiations. Doug Rowe and Geoffrey Schubert of Lee & Associates represented the landlord.
NEW YORK CITY — Argentic Investment Management has signed a 13,000-square-foot office lease in Manhattan’s Flatiron District. The financial services firm will occupy the entire 20th floor the Gramercy Park Building, a 238,000-square-foot structure at 257 Park Ave. S that is now 97 percent leased. Neil Goldmacher, Eric Zemachson and Scott Gutnick of Newmark represented the tenant in the lease negotiations. Andrew Wiener and Robert Fisher represented the landlord, The Feil Organization, on an internal basis.
GLENDALE HEIGHTS, ILL. — Prologis has acquired 26.2 acres of land in Glendale Heights with plans to build a speculative industrial development consisting of two Class A logistics facilities totaling 454,000 square feet. Each building will feature a clear height of 36 feet, more than 200 car parking spaces and a shared 200-foot truck court. The project site is adjacent to the High Grove Business Park to the east and a commercial and retail development to the west. It also features direct access to I-355 and proximity to the Chicago O’Hare airport. Plans call for significant infrastructure improvements, including construction of a new connector drive and upgrades to nearby intersections and stormwater management facilities.
KANSAS CITY, MO. — Gantry has arranged a $32.5 million permanent loan as construction takeout financing for the Edison at Tiffany Springs, a multifamily community delivered in 2022 in Kansas City’s Tiffany Springs/Northland area. The property features seven three-story buildings offering 243 units in a variety of floor plans. Amenities include a clubhouse, pool, pickleball court, golf simulator, walking paths and a mix of 72 garages and 337 surface parking spots. Joe Monteleone and Bonnie Monteleone of Gantry represented the borrower, a private real estate investor. The Freddie Mac loan features a 10-year, fixed interest rate with partial-term interest-only payments followed by a 35-year amortization.
MENDOTA HEIGHTS, MINN. — Standard Real Estate Investments LP and Endeavor Development have completed Cobalt Business Center, a 174,288-square-foot industrial facility in the Minneapolis suburb of Mendota Heights. The project was fully preleased prior to completion to a single tenant. Located on a 10-acre infill site, Cobalt Business Center is situated near the airport and features a clear height of 32 feet, 15 dock positions, motion-sensing LED light fixtures, ESFR fire protection and 4,000 amps of power. CBRE’s Jeff Przytarski, Bryan Van Hoof, James DePietro and Sam Manke represented ownership. Brian Netz and Eric Tomchik of Newmark represented the tenant.
PARK RIDGE, ILL. — Mid-America Real Estate Corp. has brokered the sale of The Shops of Uptown, a 70,144-square-foot, grocery-anchored retail center in the Chicago suburb of Park Ridge. Anchored by Trader Joe’s, The Shops of Uptown is part of the larger Uptown mixed-use development. Joe Girardi and Patrick Corrigan of Mid-America represented the seller, Phillips Edison Co. An institutional investment manager was the buyer.
MIAMI — Jackson Health System has completed the first phase of the $400 million renovation and expansion of its emergency room at Jackson Memorial Hospital in Miami. The newly built, ground-up emergency room has doubled its original footprint, which now spans 178,000 square feet. Designed by HKS and built by Skanska, the project included the demolition of two existing buildings to create space for the expanded facility. Phase I of the renovation features 60 general exam rooms, four resuscitation rooms, six triage and 12 fast-track rooms, along with a second floor that comprises 50 observation rooms and seven acute care rooms. Patients also now have access to a full radiology suite with MRI, CT, X-ray and ultrasound capabilities, as well as an on-site pharmacy for immediate delivery of medications. Phase II of the project will continue to expand the existing 45,000-square-foot emergency room with 121 adult emergency rooms, dedicated behavioral health bays and 30 pediatric emergency rooms. Renovations are underway and scheduled for completion in 2027. Lastly, Phase III will further expand the emergency room through the addition of a third floor with more clinical space and a helipad for rapid transfers and life-saving arrivals.
WASHINGTON, D.C. — PCCP has provided a $61.3 million loan to refinance Parc Riverside East, a 287-unit luxury apartment community located in the Navy Yard neighborhood of Washington, D.C. PGIM and Kennedy Wilson were the borrowers. Built in 2014, Parc Riverside East spans 13 stories and features a range of floorplans including studio, one-bedroom and two-bedroom configurations. Amenities at the property include a fitness center; rooftop swimming pool with sun decks and panoramic views; courtyard spaces with lounge seating; fire pits; grills; bocce courts; a clubroom with private dining and an entertainment kitchen; a pet salon; and a lobby.
Daytona Beach, Fla. — Development Solutions Inc., in partnership with Karis and the City of Daytona Beach, has broken ground on the final phase of Speedway Commerce Center, an 808,693-square-foot industrial development underway in Daytona Beach. Designed by Lamar Johnson Collaborative (LJC) and constructed by DSI South, Building III will support the needs of logistics, distribution, manufacturing and e-commerce users. Building III will comprise 217,603 square feet and will feature 36-foot clear heights; 32 dock doors and two drive-in doors; 210 car parking spaces and 33 trailer stalls; an ESFR sprinkler system; and the ability to accommodate more than 20,000 square feet of office space and four tenants. The building is expected for delivery in the fourth quarter of 2026.
By Ben Azulay, Bradford Allen Downtown Chicago’s office market is entering a period defined less by the disruptions of recent years and more by the opportunities taking shape in their wake. Tenants are committing or recommitting to quality space, investors are acquiring assets at more compelling valuations and office-to-residential conversions are removing obsolete supply. Leasing activity pulled back in the first quarter of 2026, with approximately 1.6 million square feet of direct deals completed, according to Bradford Allen’s first-quarter downtown Chicago office market report. That is down from just over 2 million square feet in fourth-quarter 2025. Several notable transactions reflect a market increasingly defined by location and building quality. Global food brand Mars Snacking made the quarter’s most significant commitment, signing a new 169,816-square-foot headquarters lease at Fulton Labs, 400 N. Aberdeen St. in Fulton Market, while also absorbing the 37,672-square-foot former Kellanova space in River North as part of a broader expansion that will bring more than 600 new jobs and $100 million in investment to the city. In its second expansion in the building in four years, IMC Financial Markets leased an additional 104,000 square feet at Willis Tower, bringing its total footprint there to approximately 250,000 …