SPRING, TEXAS — Locally based developer Sueba USA has completed Imperial Oaks Square, a 269-unit apartment community in the northern Houston suburb of Spring. The site is located within Falls at Imperial Oaks, a 686-acre master-planned development by Holcomb Properties, and is adjacent to the 100-acre Lake Holcomb. Units come in studio, one-, two- and three-bedroom floor plans and range in size from 496 to 1,594 square feet. Amenities include a pool, fitness center, outdoor grilling and dining areas, a dog park, business center and a catering kitchen. Rents start at approximately $1,200 per month for a studio apartment. Construction began in spring 2023.
Property Type
HOUSTON — CBRE has brokered the sale of Woodlake Square, a 157,465-square-foot shopping center in Houston’s Westchase District. Woodlake Square was 80 percent leased to 21 tenants at the time of sale. Grocer Randalls and Walgreens have jointly anchored the center, which was redeveloped in 2010, since the 1970s. Mark Witcher, Jolie Duhon, Chris Cozby, Jim Batjer and Harrison Tye of CBRE represented the seller, Edens, in the transaction. Houston-based investment firm Wu Properties purchased the center for an undisclosed price.
HOUSTON — Provident Industrial, a division of Dallas-based developer Provident, has sold Hall Road Distribution Center, a 139,000-square-foot building in southeast Houston. The newly constructed building is located about 20 miles from both of Port Houston’s main shipping terminals and features 32-foot clear heights, 32 dock doors and two ramps. Provident developed Hall Road Distribution Center in partnership with Junction Commercial Real Estate and Singerman Real Estate. The buyer, local seafood logistics company Ocean Kingdom, will also occupy the property.
SELMA, TEXAS — Construction contractor Southland Industries has signed a 62,400-square-foot industrial lease in Selma, a northeastern suburb of San Antonio. The space is located within Corporate Drive Industrial Complex, a newly constructed development that consists of two buildings totaling 511,000 square feet. John Colglazier, Kyle Kennan and Lindsey Tucker of Partners Real Estate represented the landlord, Atlanta-based developer Ackerman & Co., in the lease negotiations. Davis Bass of HPI Real Estate Services & Investments represented the tenant.
PLYMOUTH, MASS. — A joint venture between Alliance Realty Partners and an undisclosed institutional investor has sold Marq at The Pinehills, a 220-unit apartment complex in Plymouth, located south of Boston. Built on seven acres in 2016 within the 3,200-acre Pinehills master-planned development, the property offers one- and two-bedroom units with an average size of just over 1,000 square feet. Amenities include a clubroom, outdoor heated pool with a sundeck, fitness center and coworking space. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the joint venture in the transaction. The buyer and sales price were not disclosed.
LUMBERTON, N.J. — Dallas-based investment firm Dalfen Industrial has acquired a 219,123-square-foot industrial building in Lumberton, located outside of Philadelphia in Southern New Jersey. The building is located along State Route 38 and is demise-able for single or multi-tenant occupancy. Building features include a clear height of 40 feet and 35 fully dressed loading positions, and Dalfen is in the process of adding 2,500 square feet of office space to the facility. The seller and sales price were not disclosed.
NEW YORK CITY — Locally based owner The Moinian Group has begun leasing ARIA, a 114-unit apartment building located at 90 John St. in Manhattan’s Financial District. Units come in studio and one-bedroom floor plans and are furnished with custom-built closets, granite countertops, stainless steel appliances and spa-inspired marble bathrooms. Amenities include a resident lounge, onsite laundry facilities and concierge services. Rents start at approximately $3,000 per month for a studio apartment.
ASHLAND, MASS. — Regional brokerage firm Atlantic Capital Partners has negotiated the $21.2 million sale of a 99,601-square-foot shopping center located in the western Boston suburb of Ashland. Shaw’s Supermarket anchors the center, which was 94 percent leased at the time of sale. Justin Smith, Chris Peterson, Sam Koonce and Danielle Donovan of Atlantic Capital Partners represented the seller and procured the buyer in the transaction. Both parties requested anonymity.
WYCKOFF, N.J. — Marcus & Millichap has brokered the $4.3 million sale of a 10,912-square-foot retail center in Wyckoff, located near the New York-New Jersey border. Built in 1990 and renovated in 2020, the property at 403-411 Goffle Road is home to JAG-ONE Physical Therapy and several local service-oriented tenants. Alan Cafiero, David Cafiero and John Moroz of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
JLL Arranges $1.2B to Fund Construction of Four Northern Virginia Data Center Projects for BlackChamber
by John Nelson
WASHINGTON, D.C. — JLL’s Capital Markets group has arranged more than $1.2 billion over the course of 2024 to fund the construction of four data center campuses in Northern Virginia. Jamie Leachman and Drake Greer of JLL worked on behalf of the borrower, The BlackChamber Group, to arrange the funds. The direct lenders and the locations of the four campuses were not disclosed, but JLL mentioned the capital sources included bank balance sheet financing and private credit vehicles backed by insurance company funds. BlackChamber expects the new facilities to yield more than 740 megawatts of power capacity upon completion. The construction timeline for the new projects was also not released. Including these new facilities, BlackChamber’s Northern Virginia data center portfolio will comprise eight campuses offering nearly 1.5 gigawatts of power capacity across 6 million square feet of data center space.