Wednesday, June 25, 2025
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One-Riverway-Houston
OfficeTexas

Azrieli Group, Unilev Capital Complete Recapitalization of 507,565 SF Office Building in Houston

by Taylor Williams

HOUSTON — An entity controlled by Azrieli Group and Unilev Capital has completed the recapitalization of One Riverway, a 507,565-square-foot office building in Houston’s Galleria district. The transaction included a modification of an existing loan and an additional equity investment, although specific details on those elements of the recapitalization were not disclosed. Ownership now plans to undertake a capital improvement program that will feature upgrades to common areas such as corridors and restrooms, a full elevator modernization and delivery of move-in-ready spec suites. Stream Realty Partners is the leasing agent for One Riverway.

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AcquisitionsFloridaRetailSoutheast

Continental Realty Corp. Acquires CityPlace Doral Retail Development in South Florida for $87.5M

by John Nelson

DORAL, FLA. — Baltimore-based Continental Realty Corp. (CRC) has purchased CityPlace Doral, a 235,000-square-foot lifestyle retail center located at 8300 N.W. 36th St. in Doral, a western suburb of Miami. CRC financed the $87.5 million acquisition using funds from Continental Realty Opportunistic Retail Fund I LP, a related co-investment and a $58.3 million loan from a regional bank. Danny Finkle and Jorge Portela of JLL represented the seller, PGIM Real Estate, in the transaction. Michael DiCosimo and Maddy McMillen of JLL’s Debt Advisory team arranged the acquisition loan. The tenant roster at CityPlace Doral, which was 80 percent leased at the time of sale, includes The Fresh Market, Cooper’s Hawk, Anatomy Fitness, Carrot Express, Copper Blues Rock Pub & Kitchen, Kings Dining & Entertainment, CMX CineBistro, Kuba Cabana, Novecento and Tap 42. Built in 2017, the center also includes a structured parking garage and a central plaza for events. CityPlace Doral is connected to The Flats, a 303-unit apartment community that is under separate ownership. With this acquisition, CRC owns 13 retail centers in Florida, including assets in Fort Myers, Lakeland, Lake Worth, Marco Island, Naples, Ocoee, Orlando and Seffner.

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AcquisitionsIndustrialSelf-StorageTexas

Marcus & Millichap Brokers Sale of 410-Unit Self-Storage Facility in Van Alstyne, Texas

by Taylor Williams

VAN ALSTYNE, TEXAS — Marcus & Millichap has brokered the sale of a 410-unit self-storage facility in Van Alstyne, about 50 miles north of Dallas. Situated on an 8.7-acre site, Van Alstyne Self Storage spans 92,220 net rentable square feet across 42 climate-controlled units, 208 non-climate drive-up units, 91 covered parking spaces and 69 uncovered parking spaces. The facility also has an onsite residence. Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller, a local partnership, in the transaction. The duo also procured the buyer, a Dallas-based private investor. Both parties requested anonymity.

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DevelopmentOfficeTexas

Midway Tops Out 320,000 SF CITYCENTRE Six Office Building in West Houston

by Taylor Williams

HOUSTON — Locally based developer Midway has topped out CITYCENTRE Six, a 320,000-square-foot office building in West Houston. The 19-story building is being developed adjacent to a new half-acre urban plaza, which was designed by OJB Landscape Architecture, within the 47-acre mixed-use development of the same name. Partners Real Estate is the marketing agent for the project, which is 65 percent preleased to a single anchor tenant. Completion is scheduled for next spring.

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Leasing ActivityNorth CarolinaOfficeSoutheast

Trimont Signs 67,935 SF Lease at One South Office Tower in Uptown Charlotte

by John Nelson

CHARLOTTE, N.C. — Trimont, a global provider of commercial real estate loan services, has signed a lease to occupy 67,935 square feet at One South, a 40-story office tower located in Uptown Charlotte. The company plans to move into its new space, which will span three full floors, in January. John Flack and Taylor Ferguson of Savills represented Trimont in the lease transaction. John Hannon, Tim Arnold and Rhea Greene of Trinity Partners represented the undisclosed landlord. One South has had recent announcements of more than 125,000 square feet of office leases, including Deriva Energy (formerly known as Duke Energy Renewables), Dole Food Co.’s U.S. headquarters, Shumaker, Robert Half, Protiviti, Huntington National Bank and The Siegfried Group, as well as Krazy Curry, Ace No. 3 and Pet Wants. The property recently underwent $9 million of capital improvements. Amenities at One South include One Athletics, a 30,000-square-foot fitness facility that features an indoor pickleball court, fitness classes and high-end equipment and locker room facilities. Other amenities include a full-service café and cocktail bar, golf simulator, gaming lounge and a flexible event space with a retractable glass wall overlooking Trade and Tryon streets.

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DevelopmentNorth CarolinaOfficeSoutheast

Durhamite to Renovate, Rebrand 139,282 SF Office Building in Durham, North Carolina

by John Nelson

DURHAM, N.C. — Durhamite Holdings, a locally based, privately owned real estate investment group, plans to renovate and rebrand SouthCourt, a 139,282-square-foot office building in Durham. Planned renovations include a fully redesigned main lobby, exterior improvements, a multipurpose room for tenant events and meetings and a new amenity complex featuring a hotel-style lounge, game room, collaboration space and a kitchen and bar. Durhamite also plans to revitalize the building’s outdoor seating areas and create access to Joe Van Gogh Café on the ground level. The property, rebranded as Durhamite SouthCourt, will also house Orenge South Durham, a 17,000-square-foot coworking space with private offices. Dennis Hurley of JLL is leading the leasing efforts at Durhamite SouthCourt, which will soon welcome two new tenants: RVE and Gameday Men’s Health.

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Affordable HousingDevelopmentFloridaSeniors HousingSoutheast

McDowell Housing Completes 160-Unit Affordable Seniors Housing Community in Naples, Florida

by John Nelson

NAPLES, FLA. — McDowell Housing Partners (MHP) has completed the construction of Ekos Cadenza, a 160-unit affordable seniors housing community in Naples. This marks MHP’s second phase of development at the site. The first phase, which also comprises 160 units of affordable housing for seniors, opened in October 2024. Totaling five stories, Ekos Cadenza features studio, one- and two-bedroom residences ranging from 527 to 1,007 square feet. Amenities include a swimming pool, wet bar, fitness center, game room, media center, pickleball court and clubhouse. The Healthcare Network of Southwest Florida will provide onsite healthcare services to residents, with Collier County administering a daily meal program. Nineteen apartments will be reserved for seniors earning at or below 30 percent of the area median income (AMI), and 119 units will be reserved for seniors earning at or below 60 percent of AMI. Monthly rents will range from $529 to $1,406.

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Leasing ActivityOfficeTexas

Oxford Partners Negotiates 11,258 SF Office Sublease in West Houston

by Taylor Williams

HOUSTON — Locally based brokerage firm Oxford Partners has negotiated an 11,258-square-foot office sublease in West Houston. The space is located within the building at 2050 W. Sam Houston Parkway S. According to LoopNet Inc., the building was constructed in 2013 and spans 333,000 square feet. Vincent Vega of Oxford Partners represented the sublessee in the negotiations. Rob Johnson of Hughes Marino represented the sublessor.

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AcquisitionsLouisianaRetailSoutheast

Marcus & Millichap Brokers $5.8M Sale of Retail Center in Lafayette, Louisiana

by John Nelson

LAFAYETTE, LA. — Marcus & Millichap has brokered the $5.8 million sale of Lafayette Marketplace, an 87,122-square-foot retail center located in Lafayette. Super 1 Foods anchors the property, which occupies roughly 60 percent of the center. Additional tenants include Dollar Tree, Family Dollar, Metro by T-Mobile and Ace Cash Express. Built in 1995 and renovated in 2024, Lafayette Marketplace spans 10 acres and is situated near the West Village master-planned development that is currently underway. Eric Abbott and Zach Taylor of Marcus & Millichap represented the seller in the transaction. Steve Greer served as Marcus & Millichap’s broker of record in Louisiana in the transaction.

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Trulee-Evanston-Illinois
IllinoisLoansMidwestSeniors Housing

PGIM Real Estate Provides $50M in Financing for 160-Unit Senior Living Community in Metro Chicago

by Abby Cox

EVANSTON, ILL. — PGIM Real Estate has provided $50 million in floating-rate financing for Trulee Evanston, a 160-unit senior living community located in Evanston, roughly 13 miles north of downtown Chicago. Trace Wilson of PGIM Real Estate led financing efforts on behalf of the borrowers, AEW Capital Management and Solera Senior Living. The nine-story complex features contemporary architecture, technology and a variety of outdoor spaces, as well as independent living, assisted living and memory care services. Amenities at Trulee Evanston include an outdoor deck, bar, fire pit, hair salon and a fitness center.

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