MERIDIANVILLE, ALA. — Publix has opened a new store within Flint Crossing Market Place, a 64,925-square foot neighborhood retail center in Meridianville, roughly 10 miles north of Huntsville. Located at 12290 Highway 231/431 N, the store spans 48,387 square feet and features a full-service deli, bakery, seafood counter, produce section and a pharmacy with a drive-thru. Publix Super Markets, doing business as Real SUB LLC, is the landlord of Flint Crossing Market Place.
MANASSAS, VA. — Cushman & Wakefield has secured $28.7 million in bridge financing for Manassas Mall, a 941,574-square-foot shopping mall located in Manassas, roughly 31 miles southwest of Washington, D.C. Miami-based Lionheart Capital was the borrower. Robert Kaplan and Mark Rutherford of Cushman & Wakefield’s Miami office, along with Michael Zelin, Bindi Shah and Ryan McMahon of the firm’s Washington, D.C. office, represented Lionheart Capital in the transaction. Originally developed in 1972, Manassas Mall was expanded in 1988 and renovated in 2016. The mall features more than 80 retailers, including Macy’s, JCPenney, Sears, Target, Walmart, H&M, American Eagle Outfitters and Old Navy, as well as a movie theater and arcade. Lionheart Capital has owned Manassas Mall since 2020. Spinoso Real Estate Group manages the mall.
DALLAS — Texas Instruments (TI) (NASDAQ: TXN) plans to invest more than $60 billion in U.S. semiconductor manufacturing facilities, an initiative that is expected to support more than 60,000 new and existing American jobs. The capital allocation will impact seven U.S. semiconductor “fabs,” or fabrication plants at which silicon wafers and other critical hardware components are produced, across three manufacturing mega-sites in Texas and Utah. A significant portion of the investment is earmarked for TI’s existing semiconductor fabs in the North Texas city of Sherman, the first of which will begin production this year after being under construction for the past three years.
AUSTIN, TEXAS — Texas-based developer Presidium has completed a 358-unit multifamily project in northeast Austin. Designed by Dallas-based Humphreys & Partners and Ink + Oro Interior Design, Presidium Tech Ridge sits on 14 acres and features studio, one- and two-bedroom units. Residences are furnished with stainless steel appliances, quartz countertops, built-in desks, wine coolers and full-size washers and dryers. The amenity package comprises a pool, fitness center, game room, coffee bar, theater lounge, golf simulator, business center, catering kitchen, coworking lounge, courtyard with fire pits and a dog park. Construction began in spring 2022. Rents start at $1,300 per month for a studio apartment.
MISSOURI CITY, TEXAS — Locally based developer Sueba USA has broken ground on Missouri City 1, a 346-unit multifamily project located on the southwestern outskirts of Houston. The project is part of Phase III of a larger development known as Fort Bend Town Center. Units will come in studio, one-, two- and three-bedroom floor plans and will range in size from 496 to 2,088 square feet. Residences will be furnished with stainless steel appliances, granite countertops and individual washers and dryers. Amenities will include multiple social areas, a coworking lounge with a conference center, a CrossFit-inspired fitness center, leisure and lap pools, outdoor grilling and dining stations, coffee bar and a pet park. Affiliates of Sueba USA are serving as both the project architect and general contractor. Completion is slated for next fall.
FORT WORTH, TEXAS — Locally based brokerage firm Formation Real Estate has arranged the sale of 1612 Summit Avenue, a 52,000-square-foot office building located just outside of downtown Fort Worth. The building offers flexible floor plans that can accommodate a range of users. Grant Huff of Formation represented the buyer in the transaction and has been retained as the leasing agent. Bill Behr and Gavin Behr of Transwestern represented the seller. Both parties requested anonymity. The new ownership plans to refresh the building’s common areas and deliver customized finish-outs for incoming tenants.
KILLEEN, TEXAS — Stellar Bank has provided an undisclosed amount of acquisition financing for a 44,494-square-foot shopping center in the Central Texas city of Killeen. Built in 2017 and shadow-anchored by grocer H-E-B, Killeen West Market was 74 percent leased at the time of the loan closing to tenants such as Cricket Wireless, Great Clips, The Joint, Venetian Nails & Spa, Lone Star Dental and Papa John’s. Clint Coe, Chad Lisbeth and Charlie Mossy of JLL arranged the four-year loan on behalf of the borrower, Brownlee Waggoner Holdings LLC.
NEW YORK CITY — The United Nations (UN) has signed a 425,190-square-foot office lease renewal and expansion at 2 United Nations Plaza in Midtown Manhattan. The lease encompasses 425,190 square feet across 26 stories, consolidating and expanding the UN’s New York City footprint, including a two-story retail component at 1 United Nations Plaza. The UN will now occupy nearly all the office space at 2 UN Plaza, which spans levels two through 26 at the property. In addition, the lease extension brings together operations previously split between 1 and 2 UN Plaza, which are currently in the midst of a $500 million capital improvement program. Jim Saunders, Jason Perla and Roy Abernathy of Newmark represented the UN in the negotiations. Scott Gottlieb of CBRE represented the landlord, which according to Wikipedia is a partnership between the United Nations Development Corp. and Millennium & Copthorne Hotels.
BOSTON — Related Beal, the Boston office of Related Cos., has topped out construction of Leiden Center II at Innovation Square, a 345,000-square-foot life sciences project in Boston. The 1.8-acre site is located within Raymond L. Flynn Marine Park in the Seaport District, and the seven-story building, which represents Phase III of the larger Innovation Square development, is fully preleased to Vertex Pharmaceuticals. A consortium of lenders consisting of Santander Bank, Ullico, LBBW and Washington Capital provided construction financing for the project, in which Basis Investment Group is an equity investor. Completion is slated for early 2027. The project is expected to generate as many as 700 construction jobs and approximately 500 permanent jobs for the city.
WILMINGTON, MASS. — JLL has arranged $92 million in financing for the three-building, 393,911-square-foot Fordham Park Robotic and Logistics Campus in the northern Boston suburb of Wilmington. The campus spans 40.1 acres and features high-bay research and development, robotics and distribution space. The park was fully leased at the time of sale to credit tenants in the e-commerce, warehouse automation/robotics and semiconductor equipment/industrial automation industries. Tom Sullivan led the JLL team that arranged the five-year loan through M&T Bank on behalf of the borrower, Carlisle Capital Corp.
