Tuesday, August 18, 2026
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DevelopmentMarylandSoutheastStudent Housing

MCB Breaks Ground on 146-Unit Student Housing Project in Northeast Baltimore

by John Nelson

BALTIMORE — MCB Real Estate has broken ground on Flats at the Markley, a 146-unit student housing development in the Beverly Hills neighborhood of northeast Baltimore. Situated along Harford Road, the off-campus property will serve students attending nearby Morgan State University. MCB says the five-story development will feature apartments with in-unit washers and dryers, study rooms, game rooms, onsite parking and an outdoor courtyard. MCB expects to complete Flats at the Markley in summer 2025.

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DevelopmentOfficeTexas

Developers Underway on 83,750 SF Office Condo Project in West Houston

by Taylor Williams

HOUSTON — Developers Milton Allen and Bobby Ferguson are underway on construction of an 83,750-square-foot office condo project in West Houston. Suites will come in a variety of sizes, and the condos will also include flexible workspaces. The project will deliver three properties that will all be marketed for sale upon completion, a tentative date for which was not disclosed.

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FloridaLoansMultifamilySoutheast

Greystone Provides $34M Agency Loan for Multifamily Community in Pensacola, Florida

by John Nelson

PENSACOLA, FLA. — Greystone has provided a $34 million Fannie Mae loan for the refinancing of The Lakes at Nottingham, a 268-unit apartment community in Pensacola. Built in 2002, the property spans 17 buildings housing one-, two- and three-bedroom apartments. Carter King of Greystone originated the non-recourse, fixed-rate loan on behalf of the borrower, an affiliate of The Hallmark Cos. Inc. The five-year loan features a 30-year amortization schedule and two years of interest-only payments.

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Leasing ActivityOfficeTexas

Capital Institutional Services Signs 24,106 SF Office Lease Renewal in Downtown Dallas

by Taylor Williams

DALLAS — Capital Institutional Services has signed a 24,106-square-foot office lease renewal at 1700 Pacific Ave. in downtown Dallas. The 49-story building totals approximately 1.3 million square feet and offers a food court, fitness center and conference facilities. Natalie Bode, John Pelletier and Darren Woodson of Cresa represented the tenant in the lease negotiations. The owner, Memphis-based development and investment firm Olymbec, was self-represented.

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IndustrialLeasing ActivityLee & AssociatesTexas

Lee & Associates Negotiates 18,924 SF Industrial Lease in Irving

by Taylor Williams

IRVING, TEXAS — Lee & Associates has negotiated an 18,924-square-foot industrial lease at 5325 FAA Blvd. in Irving. According to LoopNet Inc., the building features 24-foot clear heights, two dock-high doors and roughly 3,000 square feet of office space. Reed Parker of Lee & Associates represented the tenant, Reaction Audio Visual, in the lease negotiations. Mark Graybill and Ken Wesson, also with Lee & Associates, represented the landlord, Nuveen Real Estate.

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Leasing ActivityOfficeTexas

Lawn & Garden Relocates Corporate Headquarters to 11,409 SF Office Space in Irving

by Taylor Williams

IRVING, TEXAS — Lawn & Garden, a provider of lawncare products and equipment, has relocated its corporate headquarters from the northern-central metroplex city of Coppell to Esters 114 Business Center in Irving. Clint Madison, John Fancher and Randy Wood of Cushman & Wakefield represented the landlord, Stanton Road Capital, in the lease negotiations. Bill Buntyn and Dylan Smith of Colliers represented Lawn & Garden, which will occupy 11,409 square feet at Esters 114.

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CaliforniaDevelopmentOfficeWestern

Worthe Completes 800,000 SF Warner Bros. Headquarters at Burbank Studios in California

by Jeff Shaw

BURBANK, CALIF. — Worthe has completed construction of the 800,000-square-foot office project known as Second Century at Burbank Studios. It will serve as the headquarters for Warner Bros.  The two LEED-certified office buildings are located on the southernmost portion of the Burbank Studios Lot in Burbank. Frank Gehry and his team at Gehry Partners designed the project.  Worthe developed the asset alongside its construction company, Krismar Construction. Stockbridge Real Estate Fund partnered on the project.  Second Century was named in anticipation of the upcoming 100-year anniversary of Warner Bros. The buildings will house about 4,500 Warner Bros. employees.

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CaliforniaDevelopmentIndustrialWestern

Kearny Real Estate, Dune Real Estate Partners Plan Harbor Logistics Center in Santa Ana, California

by Jeff Shaw

SANTA ANA, CALIF. — Kearny Real Estate Company and Dune Real Estate Partners have announced plans to develop Harbor Logistics Center, a 163,000-square-foot industrial facility in Santa Ana.  The new property will replace a recently renovated office campus. Construction is projected to begin in the first quarter of 2024.  Kearny acquired the eight-acre office campus at 3130 and 3100 S. Harbor Blvd. in 2018. It hit the market a year later after Kearny completed a multi-million-dollar renovation and rebranded it as Elevate@Harbor. The office campus will be razed to accommodate the construction of the Harbor Logistics Center.

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AcquisitionsCaliforniaHealthcareOfficeWestern

CBRE Arranges $29M Sale of Medical Office Building in Long Beach, California

by Jeff Shaw

LONG BEACH, CALIF. — A private buyer has purchased a 68,845-square-foot medical office building in Long Beach for $29 million.  The four-story building is located at 701 E. 28th St., across the street from MemorialCare Long Beach Medical Center.  The Children’s Clinic Family Health, a nonprofit 501(c)(3) health center, occupies about 27 percent of the building. There are 14 other tenants providing various clinical medical services, including general medicine, urgent care, obstetrics/gynecology, urology, neurology, on-site surgery and imaging.  CBRE’s Michael Longo, Mark Shaffer, Todd Tydlaska and Sean Sullivan, Anthony Delorenzo represented the seller, Jamison Properties, in the transaction.

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AcquisitionsArizonaOfficeWestern

Commercial Properties Inc. Brokers Sale of Black Canyon Commerce Park in Phoenix for $5.6M

by Jeff Shaw

PHOENIX — North Mountain Professional Plaza LLC has purchased Black Canyon Commerce Park, a 56,042-square-foot office building in Phoenix, for $5.6 million.  The multi-tenant building is located at 2225 W. Peoria Ave. The asset is situated about 15 minutes from the Taiwan Semiconductor Manufacturing Company plant.  Bob Deininger at Commercial Properties Inc. represented the buyer. Deininger and Ken Elmer have retained the lease listing of Black Canyon Commerce Park. The seller was not disclosed.

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