Thursday, July 16, 2026
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Zero-Irving-Manhattan
DevelopmentNew YorkNortheastOffice

RAL Development Tops Out 240,000 SF Zero Irving Office Building in Manhattan

by Taylor Williams

NEW YORK CITY — RAL Development Services, in partnership with the New York City Economic Development Corp., has topped out Zero Irving, a 240,000-square-foot office building located in the Union Square neighborhood of Manhattan. Designed by Davis Brody Bond, the 21-story building is located at 124 E. 14th St. and will ultimately feature 176,000 square feet of Class A office space and 10,000 square feet of ground-floor retail space that will house a food hall, event space and a fitness center. Completion is scheduled for early 2021.

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AcquisitionsHealthcareLife SciencesNortheastOfficePennsylvania

Ensemble Real Estate Acquires Three Life Sciences Buildings in Philadelphia for $83M

by Taylor Williams

PHILADELPHIA — California-based Ensemble Real Estate Investments has acquired a trio of life sciences buildings within Philadelphia’s Navy Yard for $83 million. The properties total 366,803 square feet and are occupied by WuXi Advanced Therapies Inc. Ensemble, which has five offices across the country, now owns five life sciences buildings totaling approximately 550,000 square feet within the Navy Yard. The seller(s) was not disclosed.

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AcquisitionsNew JerseyNortheastOffice

JLL Negotiates Sale of 18,000 SF Office Property in Wayne, New Jersey

by Taylor Williams

WAYNE, N.J. — JLL has negotiated the sale of 1 Corporate Drive, an 18,000-square-foot office property located in the Northern New Jersey city of Wayne. The building is situated on 2.7 acres. Frank Recine and Derek DeMartino of JLL represented the seller, USAlliance Financial Federal Credit Union, in the transaction. Philip J. Kreizer & Associates represented the buyer, Retina Center of New Jersey.

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AcquisitionsNAINortheastOfficePennsylvania

NAI Summit Arranges Sale of 7,945 SF Office Building in Quakertown, Pennsylvania

by Taylor Williams

QUAKERTOWN, PA. — NAI Summit has arranged the sale of a 7,945-square-foot office building in Quakertown, located in between Philadelphia and Allentown in the Lehigh Valley region. Mike Adams and Mark Magasich of NAI Summit represented the seller, Heather-Jo Inc., in the transaction. Jim Dietrick of Remax represented the buyer, JLKM Property Management.

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Company NewsMultifamilyStudent HousingTexas

ACC Reports Occupancy Decline of 710 Basis Points Across Student Housing Portfolio

by Taylor Williams

AUSTIN, TEXAS — American Campus Communities Inc. (NYSE: ACC), the nation’s largest owner and manager of student housing properties, reported that its portfolio had an occupancy rate of 90.3 percent as of Sept. 11, 2020. The Austin-based REIT posted a same-store portfolio-wide occupancy rate of 97.4 percent a year ago, netting a year-over-year decline of 710 basis points. CEO Bill Bayless said that the company was encouraged by overall leasing activity in June and July but remains concerned about whether in-person classes will prevail throughout the fall semester. ACC has already felt some of this impact, Bayless said, noting that the delay or cancellation of on-campus classes stemming from the COVID-19 pandemic had already caused a 16 percent year-over-year drop in occupancy across properties that primarily serve first-year students. As of mid-2020, ACC owned 166 student housing properties totaling 111,900 beds across the country.

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DevelopmentMultifamilyTexas

Billingsley Opens 432-Unit Wallis & Baker Multifamily Community Near Fort Worth

by Taylor Williams

GRAPEVINE, TEXAS — Locally based developer Billingsley Co. has opened Wallis & Baker, a 432-unit multifamily community in the northern Fort Worth suburb of Grapevine. The property features one-, two- and three-bedroom units and amenities such as a pool, fitness center, clubroom with a bar, a wine room with a billiards table, sand volleyball court, dog park, private dining room and a library with individual workspaces. Billingsley is also developing 27,400 square feet of office and retail space on an adjacent parcel that will create a walkable neighborhood for residents of Wallis & Baker.

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Citadel-at-Tech-Ridge-Austin
DevelopmentMultifamilyTexas

Inland, Cambridge Complete 308-Unit Citadel at Tech Ridge Apartments in North Austin

by Taylor Williams

AUSTIN, TEXAS — A partnership between Inland National Development Co. LLC and Cambridge Development Group Inc. has completed Citadel at Tech Ridge, a 308-unit apartment community in North Austin. The property spans 14.8 acres and is located near Tech Ridge Business Park and Parmer Business Park, both of which are employment hubs for major tech users. Citadel at Tech Ridge features one-, two- and three-bedroom units. Amenities include a pool, fitness center, dog park, resident clubhouse and a cybercafé. Approximately 62 percent of the units were leased as of the end of August. Rents start a $1,195 per month for a one-bedroom unit, according to apartments.com.

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The-Lane-at-Waterway-The-Woodlands
DevelopmentMultifamilyTexas

Howard Hughes Begins Preleasing 163-Unit Lane at Waterway Apartments in The Woodlands

by Taylor Williams

THE WOODLANDS, TEXAS — The Howard Hughes Corp. (NYSE: HHC) has begun preleasing residences at The Lane at Waterway, a 163-unit multifamily community in The Woodlands, about 30 miles north of Houston. The seven-story property spans 1.7 acres and offers one-, two and three-bedroom units, as well as townhomes. Units are furnished with quartz countertops, stainless steel appliances, smart thermostats and keyless entry systems. Amenities include a clubroom, fitness center and an outdoor cooking area. The Lane at Waterway also features coworking office space, and residents may also rent private offices for an additional charge. The first units are expected to be available for occupancy in December. Rents start at $1,217 for a one-bedroom unit, according to apartments.com.

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IndustrialLeasing ActivityTexas

Kratos Building Products Signs 28,080 SF Industrial Lease in Metro Houston

by Taylor Williams

HUMBLE, TEXAS — Metro Dallas-based Kratos Building Products has signed a 28,080-square-foot industrial lease at Building 2 at Parc Air 59, a 320,000-square-foot development in the northern Houston suburb of Humble. North Texas-based Jackson-Shaw is the owner and developer of the property, which is 91 percent leased following this transaction.

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DevelopmentHealthcareMidwestMinnesota

Davis to Develop 78,000 SF Medical Office Building in Suburban Minneapolis

by Kristin Harlow

ST. LOUIS PARK, MINN. — Davis has unveiled plans to develop the 78,000-square-foot Xchange Medical building in St. Louis Park, a western suburb of Minneapolis. Ear Nose & Throat Specialty Care and Surgical Care Affiliates will anchor the three-story, Class A medical office building. The two tenants will occupy 60 percent of the project, which will include a covered patient drop-off area, a healing garden and a total of 324 parking spaces. Xchange Medical will be built on a 4.6-acre site that Davis assembled from four separate parcels that currently house vacant office and warehouse buildings, an auto repair shop and a parking lot. Davis has owned the parcels since 2015. The buildings will be demolished to make way for the project, which the St. Louis Park City Council unanimously approved in August. Davis expects to break ground in October with completion slated for late 2021.

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