Wednesday, April 8, 2026
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AcquisitionsMichiganMidwestOffice

LREH Michigan Acquires 74,500 SF Office Building in Suburban Detroit

by Kristin Harlow

BLOOMFIELD HILLS, MICH. — LREH Michigan LLC has acquired Square Lake Office Park II at 1750 S. Telegraph Road in Bloomfield Hills. The 74,500-square-foot, three-story office building features a lakefront setting and is fully occupied. Mason Capitani of L. Mason Capitani/CORFAC International represented the buyer, which maintains a portfolio in excess of 2 million square feet of Class A office space across metro Detroit. Liberty Property & Asset Management will provide property management services for the building moving forward.

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Affordable HousingDevelopmentMidwestMultifamilyWisconsin

McShane to Build 50-Unit Affordable Housing Development in Madison, Wisconsin

by Kristin Harlow

MADISON, WIS. — McShane Construction Co. will build The Conway at Huxley Yards in Madison for developer Lincoln Avenue Communities. The affordable housing development will feature 50 units in a five-story building with four residential floors atop a precast parking garage. Amenities will include a fitness room, community room, mail room and leasing area. The project was designed to achieve Wisconsin Green Built Homes Gold Certification and Energy Star Multifamily Certification and is part of the EPA Indoor AirPlus program. Completion is slated for the third quarter of 2026. Knothe & Bruce Architects is the project architect.

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IllinoisLeasing ActivityMidwestOffice

Lee & Associates of Illinois to Relocate to One Lincoln Centre in Oakbrook Terrace

by Kristin Harlow

OAKBROOK TERRACE, ILL. — Lee & Associates of Illinois has signed a long-term office lease at One Lincoln Centre in Oakbrook Terrace. The move, set for third-quarter 2026 occupancy, marks the firm’s first transition out of the Rosemont area since its 2002 inception. Built in 1986, One Lincoln Centre is a 318,000-square-foot property. Lee & Associates of Illinois will occupy space on the 14th floor. The move will accommodate the company’s growth, housing more than 60 employees across its brokerage and Lee Asset Management divisions. The company will remain in its current space at 9450 W. Bryn Mawr Ave. until the relocation. Hamilton Partners, the owner of One Lincoln Centre, was self-represented.

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615 River Road
DevelopmentLoansMixed-UseMultifamilyNew JerseyNortheastTop Stories

S3 Capital Provides $255M Construction Loan for Mixed-Use Development Along Hudson River in New Jersey

by Abby Cox

EDGEWATER, N.J. — S3 Capital has provided a $255 million construction loan to finance the first phase of a $1 billion mixed-use development located on the Hudson River in the Northern New Jersey city of Edgewater. Galaxy Capital arranged the financing on behalf of the borrower and developer, New York City-based The Maxal Group. The initial phase of the project, dubbed 615 River Road, will be the first building in the planned development, which will ultimately comprise 1,200 residential units and more than 1,000 parking spaces, along with a 2.5-acre public waterfront park to link up with the 18.5-mile Hudson River Waterfront Walkway. A timeline for construction has not been announced. “We are thrilled to partner with The Maxal Group as they develop a transformative project that will bring much-needed state-of-the art housing and transit access to the Edgewater waterfront,” says Shawn Safdie of S3 Capital. “This transaction reflects our commitment to supporting best-in-class developers delivering new product to undersupplied markets.” 615 River Road will include a 25-story luxury apartment building featuring 381 units, ground-floor retail space and parking for roughly 500 vehicles. The property will also include a new public ferry terminal that will provide direct service to Manhattan’s west side. …

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Company NewsSeniors HousingSoutheastTennessee

Brookdale Senior Living, Largest U.S. Seniors Housing Operator, Names Nick Stengle as CEO

by John Nelson

BRENTWOOD, TENN. —Brookdale Senior Living Inc. (NYSE: BKD), the country’s largest seniors housing operator, has named Nick Stengle as its new chief executive officer. Stengle will assume the role, as well as join the Brookdale board of directors, effective Oct. 6. Denise Warren, who has served as interim CEO beginning in April of this year following the departure of president and CEO Lucinda “Cindy” Baier, will step down and reassume her role as non-executive chairman of the board. According to Brookdale, Stengle’s selection was the result of a comprehensive search led by the board’s search committee. Stengle previously served as president and chief operating officer of Gentiva, a role he assumed in 2022. Gentiva, which employs more than 12,000 associates, provides hospice, palliative and home health services at 550 locations across 38 states. Prior to his tenure at Gentiva, Stengle served as executive vice president and chief operating officer for Sunrise Senior Living, leading community operations, sales, marketing and clinical operations for roughly 250 seniors housing communities. His experience also includes an 11-year career with the U.S. Air Force. “While I have enjoyed my time as interim CEO, I am confident Nick has the strategic acumen, vision and leadership skills …

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Presidium-Waterford-Austin
DevelopmentMultifamilyTexas

Presidium Completes 283-Unit Multifamily Project in North Austin

by Taylor Williams

AUSTIN, TEXAS — Texas-based developer Presidium has completed Presidium Waterford, a 283-unit multifamily project in North Austin. Designed by Dallas-based O’Brien Architects and Atlanta-based Dwell Design Studio, the six-story building offers studio, one- and two-bedroom units and amenities such as a pool, fire pits, fitness center, office lounges and a bocce ball court. The property also features a courtyard with an outdoor kitchen and multiple social spaces. Rents start at $1,450 per month for a studio apartment. When construction began in spring 2021, the project was planned as Phase I of a larger development. Phase II is now known as Presidium 183 and has 374 units that are currently in lease-up.

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AcquisitionsGeorgiaMixed-UseRestaurantRetailSoutheast

Report: 26th Street Partners Acquires Krog Street Market, Adjacent Properties in Atlanta

by John Nelson

ATLANTA — Locally based 26th Street Partners has acquired Krog Street Market, a 30,000-square-foot adaptive reuse food hall and market in Atlanta’s Inman Park district, according to the Atlanta Business Chronicle. Charlotte-based Asana Partners sold the property, along with the adjacent Atlanta Stove Works, SPX Alley and Butler and Gravel buildings. The sales price was not reported, but Asana purchased the Krog District buildings in 2018 for $45.8 million. Paces Properties originally redeveloped the 1920s-era warehouse that was also formerly used as the home of Tyler Perry Studios into Krog Street Market in 2014. The property’s tenant roster includes Hop City, Fred’s Meat & Bread, Jeni’s Splendid Ice Creams, Superica, Ticonderoga Club, The Collective and The Merchant. Additionally, Patagonia has a large store at Krog District and Yeti will soon open a shop at the property, according to the Chronicle.

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The-Arc-at-The-Ion-District-Houston
DevelopmentLife SciencesOfficeTexas

Rice Real Estate, LPC to Develop 200,000 SF Office, Life Sciences Building in Midtown Houston

by Taylor Williams

HOUSTON — A partnership between Rice Real Estate Co., the property investment arm of Rice University, and Dallas-based Lincoln Property Co. (LPC) will develop The Arc at The Ion District, a 200,000-square-foot office and life sciences property in Houston. The Ion District is a 16-acre academic, research and development and innovation hub in Midtown Houston. Amenities at the new building will include a gym, lounge, conference and meeting spaces and outdoor event plazas. Rice University has committed to occupying 30,000 square feet of office and lab space at The Arc, construction of which is expected to begin in the second quarter of next year and to be complete in early 2028.

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AcquisitionsFloridaMultifamilySoutheast

Mast Capital, AEW Sell 342-Unit Remi on the River Apartments in Miami

by John Nelson

MIAMI — Mast Capital and AEW Capital Management have sold Remi on the River, a new 342-unit apartment community in the Miami River District. Valeris Capital purchased the property for an undisclosed price, though multiple media outlets are reporting the community traded for $108 million. Robert Given, Troy Ballard and Michael Mulkern of CBRE brokered the transaction. Situated along the Miami River, Remi on the River features studios, one-, two- and three-bedroom apartments ranging in size from 465 to 1,334 square feet. Designed by Corwil Architects, the community opened in 2024 and features a resort-style swimming pool, aqua lounge, fitness center, clubroom, access-controlled parking and a resident lounge with coworking spaces.

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DevelopmentGeorgiaLeasing ActivityMixed-UseRestaurantRetailSoutheast

Shake Shack to Join Tenant Mix at $5B Centennial Yards Project in Downtown Atlanta

by John Nelson

ATLANTA — Burger chain Shake Shack has signed a long-term lease for a new 3,010-square-foot restaurant at Centennial Yards, a $5 billion mixed-use development underway in downtown Atlanta. CIM Group and affiliate Centennial Yards Co. are transforming the 50-acre site that was locally known as the Gulch into a high-end entertainment and hospitality destination near Mercedes-Benz Stadium (home of the Atlanta Falcons and Atlanta United) and State Farm Arena (home of the Atlanta Hawks). The restaurant will be Shake Shack’s first location in downtown Atlanta and is expected to open next year. Other previously announced tenants joining Centennial Yards include a 5,300-square-foot Live Nation entertainment venue and Cosm, an immersive experiential sports and entertainment operator. Other food-and-beverage options include the Wild Leap brewery and Khao Thai Isan, a Thai tapas concept within The Mitchell residential tower. Shake Shack has previously announced plans to open a restaurant in another sports and entertainment district in Atlanta: The Battery, where it will backfill Wahlburger’s.

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