GRAND PRAIRIE, TEXAS — Century Fire Protection, which provides fire extinguishers, alarms and sprinkler systems, has signed a 25,798-square-foot industrial lease in the central metroplex city of Grand Prairie. According to LoopNet Inc., the building at 1111 W. Carrier Parkway was constructed in 1984 and totals 65,203 square feet. Brad Balke of KBC Advisors represented the tenant in the lease negotiations. Canon Shoults, Maddy Coffman and Walker Floyd of Holt Lunsford Commercial represented the landlord, Sealy & Co.
CLAYMONT, DEL. — JLL has arranged $70 million in bridge financing for Tri-State Distribution Center, a 525,000-square-foot industrial building located about 25 miles outside of Philadelphia in Claymont, Delaware. The property features a clear height of 40-feet, an ESFR sprinkler system, 130-foot truck court depths, four drive-in ramps with overhead doors and “ample” trailer and car parking allotments. Construction began in August 2023. Michael Pagniucci, Chad Orcutt, Chris Drew, Ethan Rodgers and Michelle Morgenstern of JLL arranged the debt through Chicago-based Pearlmark on behalf of the owner, a joint venture between New York City-based KPR Centers LLC and Los Angeles-based PCCP LLC.
NEW YORK CITY — Hyatt Hotels Corp. has opened The Livingston, a 104-room hotel in Brooklyn’s Boerum Hill neighborhood that is part of the Chicago-based hospitality giant’s JdV by Hyatt collection of brands. The pet-friendly hotel offers a range of accommodations, including suites and 15 rooms with private balconies. Amenities include a rooftop terrace and multiple onsite food-and-beverage options. A partnership between St. Louis-based Midas Hospitality and ACRES Capital developed The Livingston.
LYNDHURST, N.J. — Northcott Silk USA has signed a 38,728-square-foot industrial lease in the Northern New Jersey community of Lyndhurst. The textile company is taking about half the space at the building at 1050 Valley Brook Ave., which according to LoopNet Inc. features a clear height of 24 feet, seven exterior dock doors and 70 car parking spaces. Robert Adams of Garden State Realty brokered the deal. Saddleback Real Estate Developers owns the building.
SOMERSET, N.J. — Sprouts Farmers Market will open a 28,750-square-foot grocery store in the Central New Jersey community of Somerset. The Phoenix-based grocer is taking space at the 219,000-square-foot Somerset Shopping Center. Vanessa Kelty and Ed Vasconcellos of Levin Management Corp. represented the undisclosed landlord in the lease negotiations. Mike Horn and Steven Winters of RIPCO Real Estate represented Sprouts. A tentative opening date has not yet been announced.
MIRAMAR, FLA. — Private real estate development and management company Sunbeam and Fort Lauderdale-based developer Stiles have broken ground on Miramar Cove, a $1 billion, waterfront mixed-use development in Miramar, a city in South Florida’s Broward County. Miramar Cove is slated to open in the fourth quarter of 2028. At full build-out, Miramar Cove will deliver 2,874 contemporary-style homes; 400,000 square feet of retail space with a 35,000-square-foot grocer; 125,000 square feet of office space; and a 185-room hotel. A 5.5-acre water basin will serve as the heart of the property, along with dining, entertainment and gathering spaces that will be programmed for daily and evening activation. The development will also include a public entertainment district and a beach club exclusive for Miramar Cove residents. In addition, Miramar Cove will offer five miles of walking paths connecting the entire site, complemented by Founders Park’s 10-acre green space and The Estuary’s 25 acres of natural trails. The 125-acre property sits adjacent to Sunbeam’s Miramar Park of Commerce, a 5 million-square-foot corporate campus.
SUFFOLK, VA. — Rockefeller Group and Matan Cos. have broken ground on Building 3 at Port 460 Logistics Center, an industrial development that will comprise 5 million square feet in Suffolk, approximately 20 miles southwest of Norfolk with direct access to the Port of Virginia. The third building will be completed in the first quarter of 2027 and will span a little more than 1 million square feet, making it the largest building within the master-planned industrial park. Buildings 1 and 2, which measure 339,150 square feet and 246,490 square feet, respectively, are completed and ready for lease or sale. In a joint venture partnership with Mitsubishi Estate New York, Chuo Nittochi and Taisei USA LLC, Rockefeller and Matan will deliver 2.4 million square feet of industrial space across five buildings in Phase I of Port 460 Logistics Center. A second phase totaling 2.7 million square feet will follow. Rockefeller and Matan broke ground on Port 460 in September 2024. Brian Devlin, Todd Hughes, Kris Kennedy and Gregg Christofferson of JLL are handling leasing at the property. Earlier this year, A. Duie Pyle, a 101-year-old, family-owned provider of integrated transportation and distribution solutions, purchased a 43-acre development site at Port 460 …
FALLS CHURCH, VA. — Federal Realty Investment Trust has sold Barcroft Plaza, a 113,173-square-foot shopping center located in Falls Church, roughly 10 miles west of Washington, D.C. Jordan Lex and Danny Naughton of JLL represented the seller in the $58 million transaction. Chris Knight and Evan Parker, also with JLL, secured a five-year, $35.9 million acquisition loan through Bank of America on behalf of the buyer, 11North Partners. Harris Teeter anchors Barcroft Plaza, which spans nearly 10 acres. Other tenants at the property include Starbucks Coffee, Bank of America and 7-Eleven, as well as recent additions like Honeygrow, Taco Zocalo and Playful Pack. Originally constructed in 1960 and renovated from 2017 to 2019, Barcroft Plaza was 96 percent occupied at the time of sale.
SHEPHERDSVILLE, KY. — JLL Income Property Trust has received a $49 million mortgage loan for Louisville Logistics Center, a 1 million-square-foot distribution facility located in Shepherdsville, a southern suburb of Louisville. The facility was fully leased at the time of financing to UPS Supply Chain Solutions. The loan features a five-year term with a 5.28 percent interest rate. The lender was not disclosed. JLL Income Property Trust acquired Louisville Logistics Center in 2023. The property features 40-foot clear heights and 110 dock-high doors.
LANSING, MICH. — Lansing-based Cinnaire has closed a $307 million Low-Income Housing Tax Credit (LIHTC) equity fund, Fund for Housing LP 45, which will finance the creation and preservation of 2,259 affordable housing units across 27 properties in 10 states. Fund 45 will support multifamily development in Delaware, Illinois, Indiana, Maryland, Maine, Michigan, Minnesota, Pennsylvania, Virginia and Wisconsin. Specific projects include 3rd Avenue Flats in Dilworth, Minn., and The Argus Apartments in Verona, Wis. A new-construction development, 3rd Avenue Flats will bring 44 affordable housing units, five of which will be reserved for people with disabilities and four of which will be designated for households experiencing high-priority homelessness. The developer, Commonwealth Holdings IV, will partner with Lakes & Prairies Community Action Partnership to provide access to the state’s community coordinated entry system CARES, which provides access to all homeless housing programs as well as emergency resources to prevent households from falling into homelessness. The Argus Apartments is also a new development that will provide 60 affordable housing units, including nine reserved for individuals with developmental, physical or mental disabilities. Social services provider Lutheran Social Services will provide onsite services to the nine Permanent Supportive Housing units. The project developers are …