Tuesday, April 7, 2026
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Metro-7000-Fort-Worth
AcquisitionsAffordable HousingMultifamilyTexas

Comunidad Partners Acquires 206-Unit Affordable Housing Community in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Comunidad Partners, a minority- and women-owned investment firm, has acquired Metro 7000, a 206-unit affordable housing community in Fort Worth. Amenities at the property include a pool, clubhouse, sports court and a dog park. The project is 100 percent affordable, with units being at or below 80 percent of the area median income (AMI) and an income restriction that requires a minimum of 20 percent of the units be reserved for renters earning 60 percent or less of AMI. Richard Furr and Brian O’Boyle Jr. of Newmark represented the undisclosed seller in the transaction. Comunidad Partners, which will implement a value-add program focused on unit interiors and building exteriors, was self-represented.

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6800-S.-International-Pkwy.-McAllen
AcquisitionsIndustrialTexas

DRA Advisors Buys 210,000 SF Refrigerated Industrial Facility in McAllen, Texas

by Taylor Williams

MCALLEN, TEXAS — DRA Advisors, a New York City-based investment firm, has purchased a 210,000-square-foot industrial facility in the Rio Grande Valley city of McAllen. The property sits on 12 acres and features 27-foot clear heights and 120-foot truck court depths. More than 60 percent of the space is utilized for cold storage. Tom Duke and Donald Flynn of Elegran Capital & Advisory represented DRA Advisors and the seller in the off-market transaction.

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AcquisitionsMultifamilyTexas

Marcus & Millichap Brokers Sale of 94-Unit French Colony Apartments in Dallas

by Taylor Williams

DALLAS — Marcus & Millichap has brokered the sale of French Colony, a 94-unit apartment complex located on a 3.8-acre site in West Dallas. According to Apartments.com, the property was built in 1964 and offers one- and two-bedroom units. Al Silva and Ford Braly of Marcus & Millichap represented the seller, a locally based private investor, in the transaction. The duo also procured the undisclosed buyer.

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IndustrialLeasing ActivityTexas

Newmark Negotiates 28,576 SF Industrial Lease Expansion in Metro Dallas

by Taylor Williams

CARROLLTON, TEXAS — Newmark has negotiated a 28,576-square-foot industrial lease expansion at 1125 Hayden Drive in the northern Dallas suburb of Carrollton. According to LoopNet Inc., the property was built in 1981 and totals 77,486 square feet. Garrett Gibbons Jr., Trace Elrod, Reggie Beavan III, Andy Iversen, Chris Mason, John Beach and Jack Brewer of Newmark represented the tenant, Packaging Solutions Inc., in the lease negotiations. Holt Lunsford Commercial represented the landlord, an entity doing business as MP Acquiport Industrial LLC.

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Company NewsNew YorkNortheastRetail

Macy’s Reports 56 Percent Growth in First-Quarter Net Sales, Raises Full-Year Expectations

by Taylor Williams

NEW YORK CITY — Macy’s Inc. (NYSE: M) reported approximately $4.7 billion in net sales for its 2021 fiscal first quarter that ended on May 1, an increase of about 56 percent from $3 billion in net sales during that period last year. Macy’s CEO Jeff Gennette cited the windfalls of federal stimulus funds and the expanding vaccine rollout as key to the company exceeding expectations. In addition, Gennette said that more Macy’s customers are engaging with its online platform, enabling the New York City-based retailer to post a 34 percent increase in digital sales from the first quarter of 2020. Macy’s has revised its full-year guidance and is now projecting to generate between approximately $21.7 billion and $22.2 billion in net sales this year; previously it had estimated that range to be roughly $19.7 billion to $20.7 billion. Macy’s stock price opened at $19.44 per share on Tuesday, May 18, up from $5.55 per share a year ago.

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Broadrange-Logistics-Gouldsboro-Pennsylvania
AcquisitionsIndustrialNortheastPennsylvania

MDH Partners Acquires 390,000 SF Industrial Property Near Scranton, Pennsylvania

by Taylor Williams

GOULDSBORO, PA. — Atlanta-based investment firm MDH Partners has acquired a 390,000-square-foot industrial property in Gouldsboro, located outside of Scranton. Built in 2002, the property was fully leased to Broadrange Logistics at the time of sale. Building features include a clear height of 30 feet, 42 dock doors, 130-foot truck court depths and an ESFR sprinkler system. The new ownership plans to expand the property by 160,000 square feet, with construction set to begin in the first quarter of next year. The seller was Exeter Property Group. Nick Murphy of Eastdil Secured brokered the deal.

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Valley-Tool-&-Manufacturing-Milford-Connecticut
ConnecticutDevelopmentIndustrialNortheast

Valley Tool & Manufacturing to Open 100,000 SF Industrial Facility in Milford, Connecticut

by Taylor Williams

MILFORD, CONN. — Valley Tool & Manufacturing LLC has acquired 8.1 acres in Milford, located in the southern coastal part of the state, for the development of a 100,000-square-foot industrial facility. Jon Angel of Angel Commercial LLC represented Valley Tool & Manufacturing in its site selection and acquisition of the land assemblage, which consists of seven parcels that were purchased in two separate transactions. Construction is underway, and the facility is expected to open by the end of the year.

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CivicDevelopmentNew JerseyNortheast

Legacy Engineers, CCH Underway on $50M Redevelopment of Newark Symphony Hall

by Taylor Williams

NEWARK, N.J. — A team of industry professionals that includes New York-based Legacy Engineers and New Jersey-based architecture firm Clarke Caton Hintz (CCH) is underway on the $50 million redevelopment of Newark Symphony Hall. The building was originally constructed in 1905 and was added to the National Register of Historic Places in 1977. The development team is repositioning the building in three phases over five years. Earlier this month, the team unveiled the new façade and streetscape. The project will also upgrade the city block, adding bike lanes, a central island and transportation access. New Jersey-based consulting firm Reh + Main Design & Development managed the selection process of the historic preservation architect for the initial phase of the project.

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Affordable HousingLoansMultifamilyNew JerseyNortheast

Bellwether Provides $7.9M Agency Perm Loan for Newark Mixed-Income Property

by Taylor Williams

NEWARK, N.J. — Bellwether Enterprise has provided $7.9 million in Freddie Mac permanent financing for Aston Heights, a newly constructed mixed-income property located at 685 MLK Blvd. in Newark. The property totals 154 units, 51 of which will be set aside for public housing and be subsidized by the Newark Housing Authority. In addition, 49 units will be subsidized by a long-term Section 8 Housing Assistance Program (HAP) contract. The borrower, Pennrose Properties, developed the property in conjunction with the Newark Housing Authority. Victor Agusta of Bellwether Enterprise originated the financing, which retires the original Freddie Mac construction loan.

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APX-Morristown-New-Jersey
FeaturesOffice

Getting Ready To Return To The Office Increasingly Means Getting Scientific

by Taylor Williams

By Rich Gottlieb, president and COO, Keystone Property Group While executives have differing perspectives on the future of remote work in a post-COVID-19 environment, most (52 percent) are targeting a return to the office in the second half of 2021, according to a recent survey of Fortune 500 executives. Based on the responses of survey participants, vaccine availability (51 percent) and improved COVID-19 therapeutics and treatment (14 percent) are the clear determining factors in their decisions to bring employees back. But changes to office space (13 percent), like onsite testing or temperature checks, also weigh heavily on their direction. The return is already happening. Data from a separate survey published in late March found that nearly a quarter of office-using employees are working at their office in 10 major U.S. cities. In New York City, some 80,000 municipal workers began staggered returns to their buildings on May 3. Major corporations are planning “soft reopenings” or hybrid-style returns. Proactive building owners need to be ahead of tenants in terms of preparing for post-pandemic concerns, implementing the latest industry standards and technologies and addressing overall health and safety requirements. This is not always easy, especially because the science of the coronavirus continues …

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