NEW YORK CITY — Locally based brokerage firm OPEN Impact Real Estate has arranged a 27,147-square-foot office lease in Brooklyn. The tenant, social services provider Rising Ground Inc., will occupy the entire 20th floor and part of the 19th floor at 111 Livingston St. in the Brooklyn Heights neighborhood. Stephen Powers, Lindsay Ornstein, Alexander Smith and Kendall Elliott of OPEN Impact represented the tenant, which plans to take occupancy next spring, in the lease negotiations. The undisclosed landlord was self-represented.
WILMINGTON, DEL. — PNC Bank has signed a 32,530-square-foot office lease in Wilmington. The space is located within the lender’s namesake building in the downtown area. John Kaczowka of CBRE represented the landlord, Douglas Development, in the lease negotiations. Tom Coyne of Fidelity Commercial represented PNC Bank, which occupies the 15th and 18th floors.
MANASQUAN, N.J. — Private equity funds managed by Blackstone have agreed to acquire a majority ownership position in Jersey Mike’s Subs. The deal would value the Manasquan-based sandwich restaurant chain at around $8 billion, including debt, according to The Wall Street Journal. Jersey Mike’s founder and CEO Peter Cancro will maintain a significant equity stake and continue to lead the business. Blackstone says the partnership is intended to help Jersey Mike’s accelerate its expansion across and beyond the U.S. market, as well as its continued investment in technology and digital transformation. New York City-based Blackstone has a long history of investing in and propelling the growth of franchisors, including its previous acquisitions of Hilton Hotels and SERVPRO. The firm has recently invested in Tropical Smoothie Café and 7 Brew Coffee. The first Jersey Mike’s shop was founded as Mike’s Subs in Point Pleasant, N.J., in 1956. Cancro began working at the store when he was 14 years old, and later acquired the location in 1975 at the age of 17. He began franchising units in 1987. Today, Jersey Mike’s is a national franchisor with more than 3,000 locations nationwide open and in development. The transaction is expected to be completed …
SAN ANTONIO — JLL has arranged the sale of Eisenhauer North Business Park,a 458,439-square-foot industrial park in northeast San Antonio. Completed in mid-2023, the development comprises three buildings that range in size from 119,200 to 186,324 square feet. Building features include 32-foot clear heights, 109 total dock-high doors, six drive-in doors and aggregate parking for 163 trailers and 330 cars. NIT Industrial sold the property to Goldman Sachs for an undisclosed price. Trent Agnew, Kyle Mueller, Witt Westbrook and Charles Strauss of JLL brokered the deal.
UNIVERSAL CITY, TEXAS — Newmark has brokered the sale of Arya Grove, a 308-unit multifamily property in Universal City, a northeastern suburb of San Antonio. Built in 2006, the property features one-, two- and three-bedroom units with an average unit size of 800 square feet. Amenities include a pool, fitness center, dog park, playground and outdoor grilling and dining stations. Patton Jones, Matt Michelson and Andrew Dickson of Newmark represented the seller, Austin-based Internacional Realty, in the transaction. Knightvest Residential purchased Arya Grove for an undisclosed price.
FORT WORTH, TEXAS — Texas-based investment firm SPI Advisory has sold Northpoint Villas, a 276-unit apartment complex in Fort Worth. Built in 2009, Northpoint Villas offers one-, two- and three-bedroom units and amenities such as a pool, playground, fitness center, coffee bar, dog park, game room, clubhouse and outdoor grilling and dining stations. SPI acquired Northpoint Villas in 2019 as part of a two-property portfolio deal and implemented a value-add program. The company also sold the other property, the 254-unit Oaks on Marketplace in metro Austin, in May. The buyer was not disclosed.
MESA, ARIZ. — High Street Residential (HSR), the residential subsidiary of Trammell Crow Co., has broken ground on a three-story, 419-unit Class A multifamily community situated within Hawes Crossing, a 1,100-acre master-planned community in Mesa. Spanning 18 acres, the community will consist of 14 buildings and offer a variety of amenities, including a fitness center with gym, sauna, cold plunge and Zen garden; work-from-home areas; and a 2,000-square-foot entertainment lounge that opens to a courtyard. The courtyard will feature a resort-style pool and spa, festoon lighting and a covered grill lounge. Additional amenities will include pickleball courts, private dining, a leasing lobby, package room, pet spa and park, children’s play area and connectivity to the Hawes Crossing trail system. The project is scheduled to open in summer 2026.
DALLAS — Bradford Commercial Real Estate Services has negotiated a 38,194-square-foot office lease renewal and expansion in North Dallas. The tenant, Austin-based law firm Walters, Balido & Crain, will now occupy the top two floors at Meadow Park Towers, a 262,776-square-foot property located along the North Central Expressway. Richmond Collinsworth and Jared Laake of Bradford internally represented the landlord in the lease negotiations. Scott Hage and Taylor Messina of JLL represented the tenant.
CASTLE PINES, CALIF. — Thompson Thrift has completed the disposition of Citadel at Castle Pines, a 214-unit apartment community in the Denver suburb of Castle Pines. Terms of the transaction were not released. Matt Barnett, Jake Young and Taylor Payne of Walker & Dunlop brokered the sale. Located at 353 Edge View Circle, Citadel at Castle Pines features 154 one- and two-story paired villa-style homes and 60 three-story townhomes. Completed in December 2023, the one-, two-, three- and four-bedroom apartments include designer interiors, quartz countertops, stainless steel and energy-efficient appliances, attached garages and full-size washers/dryers. Community amenities include a resident social lounge, pickleball courts, a 24/7 fully equipped fitness center, resort-style pool and spa, poolside cabanas and grills, a dog park and dog spa.
COPPELL, TEXAS — Greystar has signed a 32,000-square-foot office lease in Coppell, located in the northern-central part of the metroplex. The space is located within the 1,000-acre Cypress Waters mixed-use development. Scot Ison of Axis Tenant Advisors represented the South Carolina-based apartment developer and manager, which plans to take occupancy early next year, in the lease negotiations. Billingsley Co. owns Cypress Waters.