DALLAS — Bradford Commercial Real Estate Services is underway on the $20 million renovation of Uptown Tower, a 264,478-square-foot office building in Uptown Dallas. The 12-story building is located at 4144 N. Central Expressway and was originally constructed in 1982 and last renovated in 1994. Since acquiring Uptown Tower last summer, Bradford has enhanced the building’s security systems, parking garage and conference center and will soon target elevators, atriums and other common areas. Bradford also plans to add a new fitness center and grab-and-go market and has inked multiple new leases and/or expansions since launching the capital improvement program.
Property Type
PFLUGERVILLE, TEXAS — Montana-based investment firm Virga Capital has purchased The Beacon at Pfluger Farm, a 258-unit apartment community located on the northern outskirts of Austin. Built in 2022, The Beacon at Pfluger Farm is a garden-style property that offers one-, two- and three-bedroom units with an average size of 890 square feet. Amenities include a pool, clubhouse, two fitness centers, coworking and resident lounges and outdoor gathering areas. The seller and sales price were not disclosed.
CEDAR PARK, TEXAS — Local investment firm CapRidge Partners has purchased a 30,000-square-foot building in Cedar Park, a northern suburb of Austin. The sales price was $6.7 million. The structure is located within the Scottsdale Crossing master-planned development and is known as ITC-1615 Scottsdale Building One. The building was fully leased at the time of sale to three tenants. Witt Westbrook of JLL represented the seller, a partnership between BCA Industrial Partners and Growth Capital Partners, in the deal.
NEW BRAUNFELS, TEXAS — SRS Real Estate Partners has brokered the sale of Gruene Heights, a 25,767-square-foot retail center in New Braunfels, located northeast of San Antonio. Built on 3.5 acres in 2024, the center was fully leased at the time of sale to tenants such as Papa Johns, Garcia’s Mexican Food and Chicken Salad Chick. Cathy Nabours, Kyle Shaffer and Sam Nichols of SRS Real Estate Partners represented the seller, a San Antonio-based developer, in the transaction. The buyer was a Houston-based private investor.
WEST NYACK, N.Y. — Black Diamond Capital Management, a Connecticut-based alternative investment firm, has purchased Palisades Center, a 2.3 million-square-foot mall in West Nyack, about 35 miles north of New York City. According to the Rockland County Business Journal, Palisades Center sold for $175 million at auction after being originally listed for $463.4 million. According to Wikipedia, the shopping, dining and entertainment destination is the 12th largest U.S. mall by gross leasable area and was first developed by Pyramid Cos., ultimately opening in March 1998. Black Diamond plans to be a long-term owner of Palisades Center and to invest in various capital improvements to attract new users; the Rockland County Business Journal also reports that Palisades Center currently has two vacant anchor spaces that were previously occupied by Lord & Taylor and J.C. Penney. Spinoso Real Estate will operate the property as it has since fall 2024.
NEW YORK CITY — A joint venture between Slate Property Group and Thorobird Cos. will develop a 213-unit multifamily project in Brooklyn. Designed by Think! Architecture + Design PLLC, the building will be located on a city-owned site at 570 Eldert Lane in the borough’s Cypress Hills area. Of the 213 units, 66 apartments, which will come in one-, two-, three- and four-bedroom floor plans, 66 will be set aside for formerly homeless residents. The remaining units will be reserved for households earning between 40 and 80 percent of the area median income. The building will also have 10,000 square feet of community space that will be operated by the Bangladeshi American Community Development & Youth Services. Completion is slated for summer 2028, with full occupancy planned for 2029.
LONDONDERRY, N.H. — JLL has arranged a $25.2 million acquisition loan for Woodmont Commons Apartments, an 87-unit multifamily complex in Londonderry, located near the Massachusetts-New Hampshire border. Built in 2019 within the 600-acre Woodmont Commons master-planned community, the property includes a 31,341-square-foot retail component. Residences come in one-, two- and three-bedroom floor plans. Riaz Cassum, Ryan Parker, Hunter Cuthbertson and Joe Marinaro of JLL arranged the fixed-rate loan through Metro Credit Union on behalf of the borrower, metro Boston-based Cambridge West Partners.
JOHNS CREEK, GA. — A new wave of retailers has joined the tenant roster at Medley, a new 43-acre mixed-use redevelopment underway in Johns Creek, about 27 miles north of Atlanta. Locally based Toro Development Co. recently announced the newcomers, which will include Shake Shack, Trader Joe’s, Kontour Medical Spa, Moop’s Boutique and Northern China Eatery. Previously announced concepts include Sephora, High Country Outfitters, BODYROK, Petfolk, CRÚ Food & Wine Bar, Fadó Irish Pub, Summit Coffee, Five Daughters Bakery, Drybar Shops, Minnie Olivia Pizzeria and Clean Your Dirty Face, among others. Set to debut officially around Halloween, Medley will offer 164,000 square feet of retail, restaurant and entertainment space; 833 luxury townhomes and apartments; The Hotel at Medley, a 150-room boutique hotel set to open in 2028; 110,000 square feet of lifestyle office space; and a 25,000-square-foot plaza. The project is located at the intersection of Johns Creek Parkway and McGinnis Ferry Road and was once a suburban office hub for State Farm Insurance.
REVERE, MASS. — MassDevelopment has provided $23.5 million in tax-exempt bond financing for a 56-unit affordable housing project in Revere, located just east of Boston. The building at 110 Ocean Ave. will have 32 units for households earning 50 percent or less of the area median income (AMI) and 24 units for households earning 30 percent or less of AMI. In addition to 48 one-, two- and three-bedroom units, the building will also have eight group living units. The borrower is an affiliate of local owner-operator The Neighborhood Developers.Construction is underway and is expected to be complete in fall 2027. TD Bank purchased the bond.
Foundry, Wheelock Street Capital Break Ground on 485,000 SF Logistics Park in Pompano Beach, Florida
by John Nelson
POMPANO BEACH, FLA. — Foundry Commercial, in partnership with Wheelock Street Capital, has broken ground on Festival Logistics Park, a 485,000-square-foot industrial complex located at 2900 W. Sample Road in Pompano Beach. Foundry Commercial and Wheelock Street Capital originally purchased the former Festival Flea Market site for $66 million in September 2025, according to multiple media outlets. Situated on 25 acres, Festival Logistics Park will span three buildings and will include 32- to 36-foot clear heights, flexible configurations and modern industrial features that accommodate various logistics, distribution and light-manufacturing users. The project is expected to be delivered in the fourth quarter. Nick Wigoda, Steve Medwin and Eli Havlik of Stream Realty Partners will handle leasing on behalf of the ownership team.