WEST BLOOMFIELD, MICH. — The Back Nine Golf Simulator has signed a 2,127-square-foot retail lease at Crosswinds Mall in West Bloomfield. Michael Murphy of Gerdom Realty & Investment represented the tenant, which is opening its ninth location in Michigan. Marvin Petrous of Signature Associates represented the undisclosed landlord.
By David Stecker, JLL As advanced manufacturing reshapes industrial real estate across the Midwest, Cleveland is emerging as a quietly powerful hub — offering scalable space, a strategic location and infrastructure ideal for high-growth sectors. While other Midwest metros have gained national attention for headline-grabbing investments, Cleveland is carving out its own unique path to growth, supported by advanced industries, a skilled workforce and a strong real estate foundation. The region’s industrial market remains competitive and resilient, even amid broader economic headwinds. Despite the recent move-out of Joann Fabric’s 1.4 million-square-foot facility in Summit County, overall fundamentals remain healthy, and Class A space is in especially high demand. For high-tech and manufacturing users seeking logistics-ready facilities in a cost-effective market, Cleveland delivers — offering the right mix of space, speed and strategic location that today’s industrial users are actively pursuing. A market of opportunity According to JLL’s second-quarter 2025 Cleveland Industrial Insights Report, total vacancy in the market sat at 3.8 percent. While this represents a slight uptick following Joann’s exit, it still signals robust market health. Class A availability is especially tight, driven by a wave of large leases signed in newly developed properties. That momentum is putting upward …
By Matt Valley ATLANTA — In an unsettled world, the capital markets have ironically proven to be relatively stable this year. That’s helped pave the way for the rebound in financing across the seniors housing sector, lenders say. But they are quick to add that construction financing remains difficult to secure for most developers. For much of this year, the U.S. 10-year Treasury yield has fluctuated between 4.2 and 4.6 percent, a relatively narrow range compared with the high volatility experienced in the three years prior. In 2022, for example, the 10-year yield started the year at approximately 1.5 percent and reached 4.2 percent roughly 11 months later. Because a large percentage of commercial real estate loans are priced off the 10-year yield, the benchmark rate’s recent stability is significant, say lenders. And there is potentially more good news on the horizon. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. “The Fed has been holding steady for several months in terms of short-term rates. But it looks now — based on what Fed Chairman Jerome Powell said last week in his …
CHICAGO — Investment management firm Harrison Street Asset Management has sold a portfolio of seniors housing communities located in the state of New York for more than $600 million. The buyer was not disclosed, but multiple media outlets report the buyer was senior living giant Ventas Inc. (NYSE: VTR). The portfolio comprises five communities. Harrison Street developed the properties in partnership with B2K Development between 2016 and 2022. Amenities at the communities include swimming pools, theaters, fitness centers, libraries and lifestyle programming. The names and addresses of the five communities were not released, but Long Island Business News reports the properties are located in the Long Island cities of Mt. Sinai, West Babylon, Holtsville, Bethpage and Jericho, N.Y. “This transaction exemplifies Harrison Street’s ability to produce value by targeting strategic developments, creating portfolios at scale that deliver operational excellence and executing strategic sales at opportune moments in time,” says Ben Mohns, head of asset management, North America at Harrison Street. Chicago-based Harrison Street ranked as the fourth-largest owner of seniors housing properties in the newly released, 2025 edition of the ASHA 50. Since its inception, Harrison Street has invested roughly $14.6 billion in seniors housing assets. In December 2024, Harrison Street sold a …
HOUSTON — MetroNational, the owner and operator of the Memorial City mixed-use district in Houston, has purchased the 442,042-square-foot former headquarters building of Marathon Oil Corp. The 15-story building was constructed in 2022 on a 3.4-acre site at the southeast corner of the I-10 and Beltway 8 intersection in West Houston’s Energy Corridor area. The building features a signature amenities floor with a conference center and breakout rooms, as well as indoor and outdoor collaboration and gathering spaces. Brandon Clarke, Kevin McConn, Rick Goings, Sanford Criner and Jeff Cairns of JLL represented the seller, ConocoPhillips, which acquired Marathon Oil last year for $22.5 billion, in the transaction. MetroNational was self-represented. The building was almost completely vacant at the time of sale. MetroNational has tapped JLL as the leasing agent.
HOUSTON — JLL has negotiated the sale of 801 Travis, a 222,192-square-foot office building in downtown Houston. Originally built in 1981 and most recently renovated in 2014, 801 Travis rises 21 stories with a parking garage on floors two through 11. The building was 45 percent leased at the time of sale. Rick Goings, Marty Hogan, Tom Hall, Gianna New and Dawson Hastings of JLL represented the seller, a court-appointed receiver, in the transaction. Morris Chen, who according to KHOU is a New York-based broker, represented the undisclosed buyer.
DENTON, TEXAS — HL Communities, the multifamily development arm of Holt Lunsford Commercial, is underway on construction of The Renegade, a 104-unit project that will be located in the North Texas city of Denton. Designed by Archon Corp., The Renegade will be a four-story building in the downtown area. Amenities will include a resident clubhouse, fitness facility, dedicated quiet study areas, pet recreation area and landscaped courtyard spaces. HL Communities is developing the project in partnership with Colo Development Partners. Harmony Bank is financing construction, which is expected to be complete in the second quarter of next year.
ALLEN, TEXAS — Citadel Partners has arranged the sales of a three flex buildings totaling 71,920 square feet in the northeastern Dallas suburb of Allen. Collectively known as Allen Exchange, the buildings feature space designed for office, medical and showroom users. Katherine Pool and Mac Morse of Citadel Partners represented the seller, Gillett Commercial, in all three transactions. Jason Claunch of Catalyst Commercial represented the buyer of the largest, 50,864-square-foot building. Dave Peterson of NAI Robert Lynn represented the buyer of the second building, global film distributor Well Go USA Entertainment. The buyer of the third building was not disclosed.
SAN ANTONIO — Project Cowork has signed a 19,060-square-foot office lease in downtown San Antonio. The space covers the second, third and fourth floors at 200 Main, a recently restored historic building that was originally constructed in 1915. Harry Adams and Talaya Frazier of Stream Realty Partners represented the undisclosed landlord in the lease negotiations. Aamil Sarfani of Sarfani Commercial Advisors and CEO of Project Cowork, represented the tenant.
HOBOKEN, N.J. — Urby, a joint venture between Ironstate Development and Brookfield Properties, has broken ground on a 345-unit multifamily project in Hoboken. Urby Hoboken will rise 16 stories and house studio, one- and two-bedroom units, with private terraces available in select residences. The centerpiece of the amenity package will be a fourth-floor courtyard that will feature a cold plunge pool, sunbeds, grilling stations and a fire pit pavilion. The pet-friendly building will also include a rooftop dog run. Lastly, Urby Hoboken will include more than 17,000 square feet of retail space. Mark DeLillo, Marc Schulder, Lee Spiegelman, Felipe Marin, Eli Zaoutis and Jeremy Silber of BlueGate Partners arranged $162 million in construction financing for the project through PCCP LLC. Completion is slated for summer 2027.