Property Type

Gateway Ventures, McShane Deliver 343-Unit Apartment Community in Huntsville

by John Nelson December 23, 2022

HUNTSVILLE, ALA. — McShane Construction Co. has completed the construction of Laurel at Dry Creek, a 343-unit apartment community in Huntsville. The developer is Gateway Ventures Real Estate. Sitting on 20 acres, the property comprises 16 apartment and townhome buildings housing units in one-, two- and three-bedroom layouts. Designed by Dynamik Design, Laurel at Dry Creek features 7,000 square feet of amenity space, including a fitness center, pool, fire pit, pickleball courts, hammock garden, car wash, dog park and pet-grooming station. The community was 85 percent leased at the time of delivery.

December 23, 2022

Connecticut Development Multifamily Northeast Student Housing

Landmark Properties, Manulife to Develop 890-Bed Student Housing Project Near University of Connecticut

by Taylor Williams December 23, 2022

STORRS, CONN. — A joint venture between Georgia-based Landmark Properties and Manulife Investment Management will develop The Standard at Four Corners, an 890-bed student housing project that will be located near the University of Connecticut in Storrs. The project will offer studio, one-, two- and three-bedroom units and amenities such as a pool, study lounges, a fitness center, computer lab and gaming lounge. The community will also feature 14,500 square feet of ground floor retail space. Completion is slated for August 2025.

December 23, 2022

Development Florida Leasing Activity Office Southeast

Kirkland & Ellis Signs 115,000 SF Office Lease at 830 Brickell in Miami

by John Nelson December 23, 2022

MIAMI — Law firm Kirkland & Ellis has signed a lease at 830 Brickell, a 55-story office building located in downtown Miami’s Brickell district. The firm will occupy a six-floor, 115,000-square-foot space at the property, which was developed by OKO Group and Cain International. Brian Gale, Ryan Holtzman and Andrew Trench of Cushman & Wakefield represented the landlord in the lease negotiations. Neil Goldmacher, Mitchell Millowitz and Ryan Rosalsky of Newmark and Kevin Kushner of CBRE represented Kirkland & Ellis. Other tenants at the building, which is expected to be 100 percent leased at the time of opening early next year, include Citadel, CI Financial, Microsoft, Thoma Bravo, AerCap and Marsh Insurance. Amenities at the office tower will include a rooftop bar/lounge and restaurant, a health and wellness center, conferencing facilities, an outdoor terrace, cafés and street-level retail space. Adrian Smith + Gordon Gill acted as architect for the project, with interiors by Italian firm Iosa Ghini Associati.

December 23, 2022

Acquisitions Georgia Multifamily Southeast

Fogelman Acquires 204-Unit Columns at Timothy Woods Apartments in Athens, Georgia

by John Nelson December 23, 2022

ATHENS, GA. — Fogelman Properties has acquired The Columns at Timothy Woods, a 204-unit apartment community located in Athens, roughly 70 miles northeast of Atlanta. Fogelman acquired the property for an undisclosed price from ECI Group, which acquired the community in 2019 and completed improvements to the property’s interiors and amenities. Originally built in 1996, the community features units in one-, two- and three-bedroom layouts. Kevin Geiger of CBRE represented ECI in the transaction.

December 23, 2022

Acquisitions Retail Southeast Tennessee

JLL Brokers $19.5M Sale of Shopping Center in Chattanooga Suburb

by John Nelson December 23, 2022

CLEVELAND, TENN. — JLL Capital Markets has brokered the sale of Cleveland Towne Center, a 148,203-square-foot shopping center located in the northeast Chattanooga suburb of Cleveland. Jim Hamilton, Brad Buchanan and Andrew Kahn of JLL represented the seller, Wicker Park Capital Management LLC, in the $19.5 million transaction. Bodin Properties acquired the center, which was fully leased at the time of sale. Ross Dress for Less, Ashley Furniture, Old Navy, Books-A-Million and Electronic Express anchor the property, which is also shadow-anchored by Kohl’s and Target.

December 23, 2022

Loans Multifamily New York Northeast

Bank of America Provides $53M Permanent Loan for Brooklyn Apartment Building

by Taylor Williams December 23, 2022

NEW YORK CITY — Bank of America has provided a $53 million permanent loan for Kent House, a 96-unit apartment building in Brooklyn’s North Williamsburg area. The building, which houses one- and two-bedroom units, includes 140 parking spots and 31,000 square feet of retail space. Leah Paskus of Landstone Capital Group arranged the loan, which retires the property’s original construction debt, on behalf of the borrower, locally based developer CW Realty, which holds the leasehold interest in the property.

December 23, 2022

Leasing Activity New York Northeast Office

Choyce Peterson Negotiates 39,649 SF Office Lease in Purchase, New York

by Taylor Williams December 23, 2022

PURCHASE, N.Y. — Connecticut-based brokerage firm Choyce Peterson has negotiated a 39,649-square-foot office lease in Purchase, about 30 miles north of Manhattan. John Hannigan and Charlene O’Connell of Choyce Peterson represented the tenant, Triton International, a provider of intermodal container leasing services, in the lease negotiations. The name and representative of the landlord were not disclosed.

December 23, 2022

Leasing Activity New York Northeast Office

GameChanger, Dick’s Sporting Goods Sign 25,600 SF Office Lease in Midtown Manhattan

by Taylor Williams December 23, 2022

NEW YORK CITY — GameChanger, a provider of livestreaming and communications services for youth sports, and its parent company, Dick’s Sporting Goods, have signed a 25,600-square-foot office lease in Midtown Manhattan. The tenants will occupy the entire 17th and 18th floors at Zero Irving, a 176,000-square-foot building owned by RAL Development. Mitchell Konsker, Ben Bass, Dan Turkewitz, Kristen Morgan and Carlee Palmer of JLL represented the landlord in the lease negotiations. Simon Landmann, also with JLL, represented GameChanger and Dick’s Sporting Goods.

December 23, 2022

Acquisitions Development Multifamily New York Northeast Office Top Stories

Newmark Arranges $535.8M Financing for Office-to-Residential Conversion Project in Lower Manhattan

by John Nelson December 23, 2022

NEW YORK CITY — Newmark has arranged a $535.8 million loan for the acquisition and redevelopment of 25 Water Street, a 1.1 million-square-foot office building in Lower Manhattan, New York City’s historic Financial District. Dustin Stolly, Jordan Roeschlaub and Chris Kramer of Newmark arranged the loan through MSD and Apollo. The seller was not disclosed, but multiple media outlets have reported that Edge Funds sold the asset. The borrowers, GFP Real Estate, Metro Loft Management and Rockwood Capital, will use the funds to convert the 22-story office building into a residential tower housing 1,300 apartments ranging in size from studios to four-bedroom units. The project represents the largest ever office-to-residential conversion in U.S. history, according to Newmark. The office building, formerly known as 4 New York Plaza, was once anchored by JPMorgan Chase & Co. The financial giant recently unveiled plans for its newly revamped headquarters at 270 Park Ave. in Manhattan. Built in 1969, 25 Water Street features 12-foot, 4-inch slab-to-slab ceiling heights and 40,330-square-foot floor plates, which will give future residents direct views of the Lower Manhattan skyline and the New York Harbor from all floors. The property is situated on a double-wide street corridor with the widest …

December 23, 2022

Development Industrial Texas

Titan Development Breaks Ground on 167,794 SF Industrial Project in Lockhart, Texas

by Taylor Williams December 22, 2022

LOCKHART, TEXAS — Titan Development has broken ground on Building 1 at Lockhart 130 Industrial Park in Central Texas, a project that will add 167,794 square feet of industrial space to the local supply. The rear-load building will feature 32-foot clear heights, 36 dock doors and a 60-foot speed bay. Completion is slated for the fourth quarter of 2023. At full buildout, Lockhart 130 Industrial Park will consist of four buildings totaling roughly 650,000 square feet across 45 acres.

December 22, 2022

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