HOUSTON — Third Coast Infrastructure LLC has signed a 20,800-square-foot office lease in downtown Houston. The locally based energy infrastructure company plans to move into its new space within Norton Rose Fulbright Tower, a 28-story building located at 1550 Lamar St., sometime next year. Griff Bandy of Partners Real Estate represented the tenant in the lease negotiations. Skanska owns the building.
NEW YORK CITY — SL Green Realty Corp. (NYSE: SLG) has entered into an agreement to purchase Park Avenue Tower, a 36-story, 621,826-square-foot office building located at 65 E. 55th St. in Midtown Manhattan. According to The Wall Street Journal, the seller, Blackstone, bought the building in 2014 for $750 million. Park Avenue Tower was originally constructed in 1986 and recently underwent capital improvements that enhanced office suites, the lobby, amenity spaces and the outdoor plaza. Gary Phillips and Will Silverman of Eastdil Secured represented the seller in the transaction. The deal is expected to close in the first quarter of 2026.
DEVENS, MASS. — A partnership between Pivotal Manufacturing Partners and Declaration Partners has purchased a 165,335-square-foot manufacturing facility in Devens, located northwest of Boston, for $74 million. The facility, which was built in 2022, serves as the global headquarters and magnet production hub of Commonwealth Fusion Systems. Building features include a clear height of 32 feet, three tailboard dock doors, one drive-in door and 283 parking spaces. John Alascio, Alan Blank, Alex Lapidus, Rob Borden and Heather Brown of Cushman & Wakefield arranged $52.8 million in acquisition financing for the deal through Goldman Sachs.
NEW YORK CITY — ACRES Capital has provided a $42.5 million loan for the refinancing of The Congress, a 74-unit apartment building located on West 54th Street in Midtown Manhattan. According to StreetEasy, the building was originally constructed in 1923. The Congress also includes two office spaces and five retail spaces. The undisclosed sponsor will use a portion of the proceeds to fund upgrades of existing residences and common areas and convert former professional office suites into additional residential units.
BLOOMFIELD, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of The Arbors at Brighton Park, a 132-unit apartment complex in Bloomfield, located northwest of Hartford. Built in 2017, the property offers one-, two- and three-bedroom units with washers and dryers, walk-in closets and private balconies/patios. Victor Nolletti, Eric Pentore and Wes Klockner of IPA represented the seller, Paredim Communities, in the deal and procured the buyer, Beachwold Residential.
BAYONNE, N.J. — CBRE has brokered the $3.6 million sale of a 20-unit apartment building located in the Northern New Jersey community of Bayonne. The four-story building at 38-40 Kelly Parkway is located in the Constable Hook neighborhood and was originally constructed in 1920, according to LoopNet Inc. Fahri Ozturk, Richard Gatto, Tracy Trank and Zach McHale of CBRE represented the seller in the transaction. CBRE also procured the buyer. Both parties requested anonymity.
THOUSAND OAKS, CALIF. — Newmark Pacific has negotiated the $45.5 million sale of Conejo Valley Plaza, a 127,032-square-foot shopping center located in Thousand Oaks, approximately 38 miles west of Los Angeles. A Ralphs grocery store and Bank of America anchor the center, which was 68 percent leased at the time of sale. Additional tenants include Marshalls, HomeGoods and CVS Pharmacy. Pete Bethea, Rob Ippolito and Glenn Rudy of Newmark Pacific represented the sellers, two entities doing business as Conejo Valley Plaza 1 LLC and Conejo Valley Plaza 2 LLC, in the transaction.
PHOENIX — A joint venture between Harrison Street Asset Management, LCS and Ryan Cos. US Inc. has received refinancing for Clarendale Arcadia, a senior living community located in the Arcadia neighborhood of Phoenix. Ryan Stoll and Taylor Mokris of BWE arranged the financing — which features full-term interest-only payments, an initial 36-month term and two one-year extension options — on behalf of the joint venture. Completed in 2023, Clarendale Arcadia totals 248 residences, with 240 independent living units, 68 assisted living units and 40 memory care units. Amenities at the property include a bistro, fitness center, heated swimming pool, jacuzzi spa, putting greens, a movie theater, salon and spa, landscaped outdoor spaces and a full-service bar.
CHULA VISTA, CALIF. — UTEX Storage Partners has obtained $23.4 million in nonrecourse construction financing for Chula Vista Storage, a to-be-built self-storage facility in Chula Vista. Brian Somoza led the JLL team in arranging the four-year, floating-rate loan through a life insurance company. Upon delivery in 2016, Chula Vista Storage will offer 123,582 square feet of storage space within two three-story buildings. The facility will feature an on-site office, security, a 24-hour surveillance system, controlled access, climate-controlled units and boat/RV storage. The property is located on 9.3 acres near the intersection of South Bay Expressway and Eastlake Drive, approximately 12 miles southeast of downtown San Diego. A REIT third-party management platform will operate and manage the property.
SALT LAKE CITY — Cowboy Partners, with MVE + Partners as architect, has broken ground on Liberty Corner, an affordable housing property in Salt Lake City. The 387,857-square-foot, ground-up community will feature 200 apartments. Salt Lake City-based Cowboy Partners is a multifamily and mixed-use developer.