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1-Riva-Row-The-Woodlands
DevelopmentMultifamilyTexas

Howard Hughes Corp. Completes 268-Unit Multifamily Project in The Woodlands, Texas

by Taylor Williams

THE WOODLANDS, TEXAS — The Howard Hughes Corp. (NYSE: HHH) has completed 1 Riva Row, a 268-unit multifamily project located about 30 miles north of Houston in The Woodlands. The development features a 13-story tower and a four-story residential living building with two-story townhomes on the ground level, as well as traditional studio, one-, two- and three-bedroom floor plans. Amenities include a pool with cabanas, outdoor grilling and dining areas, a 24/7 fitness center, sports lounge and a rooftop terrace. Residents will also have access to roughly two miles of walking and jogging trails along The Woodlands Waterway. Construction began in September 2023.

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AcquisitionsHospitalityTexas

Hunter Hotel Advisors Arranges Sale of 100-Room Hotel in Bryan, Texas

by Taylor Williams

BRYAN, TEXAS — Atlanta-based brokerage firm Hunter Hotel Advisors has arranged the sale of the 100-room Best Western Premier Bryan hotel in Central Texas. Built in 2009, the hotel offers 4,000 square feet of meeting and event space, an outdoor pool, fitness center and a business center. Kami Burnette of Hunter Hotel Advisors brokered the deal. The names of the buyer and the California-based seller were not disclosed. The new ownership plans to implement a value-add program.

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IndustrialLeasing ActivityTexas

Reliable HealthCare Logistics Signs 48,600 SF Industrial Lease Renewal in Sugar Land, Texas

by Taylor Williams

SUGAR LAND, TEXAS — Florida-based Reliable HealthCare Logistics has signed a 48,600-square-foot industrial lease renewal in Sugar Land, located southwest of Houston. According to LoopNet Inc., the space at 1113 Gillingham Lane is part of a development known as Sugar Land Interchange Distribution Center. Ryan Hartsell of Oxford Partners, along with Michael Feuerman and Daniel Silver of Berger Commercial Realty, represented the tenant in the lease negotiations. The owner is Coleman Logistics Assets/Mapletree US.

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IndustrialLeasing ActivityTexas

Stream Realty Partners Negotiates 20,000 SF Industrial Lease in South Houston

by Taylor Williams

HOUSTON — Stream Realty Partners has negotiated a 20,000-square-foot industrial lease in South Houston. The space is located at 3156 Produce Row. Tyler Maner, Abraham Richardson and Will Mason of Stream represented the landlord, Cire Equity, in the lease negotiations. Kyle Jett and Kristian Nielsen of Newmark represented the tenant, dairy products supplier La Vaquita.

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IndustrialLeasing ActivityTexas

Trinity Drywall Renews 13,000 SF Industrial Lease in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Trinity Drywall has renewed its 13,000-square-foot industrial lease in Fort Worth. The space is located within Riverbend Business Park, a development that consists of 1.4 million square feet of space across 32 buildings. Grayson Fleitz and Matt Carthey of Holt Lunsford Commercial represented the landlord, Riverbend Properties, in the lease negotiations. The tenant representative was not disclosed.

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DevelopmentIndustrialLouisianaSoutheast

Saronic to Invest $300M to Expand Shipyard in Franklin, Louisiana

by John Nelson

FRANKLIN, LA. — Saronic Technologies, an Austin-based manufacturer for the defense and space industries, has announced plans to invest $300 million to expand its existing shipyard in Franklin, a city in southern Louisiana’s St. Mary Parish. The shipyard first became operational in April. The new investment will allow Saronic to meet client demand for its fleet of autonomous ships, or Autonomous Surface Vessels (ASVs). The company broke ground last month on the expansion, which will add 300,000 square feet of manufacturing space to its site near the Atchafalaya River, which feeds into the Gulf of Mexico. The project will comprise three new slips, expand its existing warehouse and establish a production line for assembly of its ASVs, namely Marauder, the company’s 180-foot autonomous ship. Saronic worked with Louisiana Economic Development, St. Mary Parish and other government offices on the expansion, which will add 1,500 skilled jobs to the Gulf Coast region. Private partners on the design-build team include JacobsWyper Architects, P2S, KPFF, JE Dunn and Alberici. The project is slated for completion by the end of 2026, with expanded operations coming on-line in early 2027. Saronic is also planning its next-generation Port Alpha shipyard, details of which were not released.

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DevelopmentFloridaMixed-UseMultifamilyOfficeRetailSoutheast

Allen Morris Co. Obtains $138.5M Construction Loan for Coconut Grove Mixed-Use Project in Miami

by John Nelson

MIAMI — Allen Morris Co. has obtained a $138.5 million construction loan for Ziggurat, a mixed-use development located at 3101 Grand Ave. in Miami’s Coconut Grove neighborhood. Faisal Ashraf of Lotus Capital Partners arranged the loan through BDT & MSD Partners and BHI, the U.S. bank of Israel-based Bank Hapoalim. Further details of the financing were not released. Designed by Oppenheim Architecture, Ziggurat will comprise two buildings featuring natural stone exteriors with gardens wrapping every level. The project will be situated on a 1.7-acre site at the intersection of Grand Avenue, Matilda Street and Florida Avenue. The property will include a five-story, 100,000-square-foot trophy office building with a rooftop restaurant and a three-story building that will comprise 18 for-sale luxury condominiums and 45,000 square feet of retail space on the ground level. The condominiums will range in size from 1,254 to more than 5,000 square feet. ONE Sotheby’s International Realty is handling sales, with prices ranging from $3.5 million to $15 million. Ryan Holtzman, Andrew Trench and Brian Gale with Cushman & Wakefield will manage office leasing alongside Thad Adams with Allen Morris Co. Daniel Cardenas and Michael Sullivan with Vertical Real Estate will lead the retail leasing efforts. Allen Morris …

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AcquisitionsSoutheastStudent HousingVirginia

Northstar REIS Arranges $44.5M Sale of Student Housing Community Near James Madison University

by John Nelson

HARRISONBURG, VA. — Northstar REIS has arranged the $44.5 million sale of Squire Hill Apartments, a 504-bed student housing community located at 1443 Devon Lane near the James Madison University campus in Harrisonburg. Jack Stead of Northstar REIS represented the buyer, North Beacon Capital, and the seller, The Michaels Organization, in the transaction. Squire Hill offers 189 units in one-, two-, three- and four-bedroom configurations. Shared amenities include a 24-hour fitness center, resort-style pool and hot tub, study area, picnic pavilion, coffee bar, clubhouse, conference space and a dog park.

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AcquisitionsFloridaIndustrialSoutheast

Cushman & Wakefield Brokers Sale of 186,675 SF Industrial Park in Sarasota, Florida

by John Nelson

SARASOTA, FLA. — Cushman & Wakefield has brokered the sale of Airport Commerce Center, an eight-building industrial park in Sarasota spanning 186,675 square feet. The Silverman Group purchased the project from Sound Capital for an undisclosed price. Rick Brugge, Mike Davis and Rick Colon of Cushman & Wakefield represented Sound Capital in the transaction. Airport Commerce Center is located at 7602 15th St. E, which sits near U.S. Highway 301 and I-75 and across from Sarasota-Bradenton International Airport. The small-bay industrial park was fully leased at the time of sale to a roster of 48 tenants. Suite sizes range from 1,177 to 12,283 square feet, with the eight buildings featuring a total of 74 grade-level doors and clear heights ranging from 16 to 20 feet.

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AcquisitionsHospitalityNorth CarolinaSoutheast

Milan Hotel Group Purchases Two-Property Hotel Portfolio in Asheville, North Carolina

by John Nelson

ASHEVILLE, N.C. — Milan Hotel Group has purchased a two-property hotel portfolio in Asheville, including the 88-room SpringHill Suites by Marriott Asheville (built in 2002) and the 78-room Courtyard by Marriott Asheville (built in 1996). An institutional seller sold the hotels to Milan Hotel Group for an undisclosed price. Sophia Pittaluga of Hunter Hotel Advisors brokered the transaction. The hotels are situated along Buckstone Place near the city’s Tunnel Road retail district, approximately five west of downtown Asheville. SpringHill Suites features kitchenettes in every room, along with a complimentary hot breakfast, an indoor pool and a fitness center. Courtyard by Marriott features The Bistro restaurant and Starbucks coffee service, as well as an indoor heated pool and 24-hour fitness center. Many rooms at Courtyard by Marriott feature private balconies that offer views of the Blue Ridge Mountains.

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