AMESBURY, MASS. — Regional developer Marcus Partners has completed a 430,000-square-foot industrial project in Amesbury, located north of Boston, that is a build-to-suit for air conditioning contractor Munters. The eco-friendly facility houses Munters’ desiccant dehumidification products and services and other climate control solutions for the North American market. About 350 people can work at the facility, which includes spaces for manufacturing, research and development, sales, service and administration.
INDIANAPOLIS — Keystone Group has acquired 120 Monument Circle, the former headquarters of Elevance Health (previously Anthem) in Indianapolis. Keystone has recently acquired and redeveloped more than 1 million square feet of vacant office buildings within one city block marking over $250 million in investment into luxury mixed-use, residential, retail and hospitality developments in downtown Indianapolis. The Indianapolis-based development company will transform 120 Monument Circle, which is currently vacant and is the most expansive property on Monument Circle. Redevelopment plans are still in the early stages and call for rooftop views, outdoor amenities, parking and maximized retail and restaurant spaces. Keystone will work with the community, including civic, nonprofit, higher education institutions and anchor corporations based in downtown Indianapolis as well as city and state leaders.
KANSAS CITY, KAN. — Hunt Midwest and LANE4 Property Group have opened The Hudson, a 228-unit luxury apartment complex adjacent to the University of Kansas Health System campus in Kansas City. The developers partnered with KU Endowment to build the project. The Hudson’s name is a homage to the Rosedale neighborhood’s history, where Rainbow Boulevard was once known as Hudson Road until it was renamed in 1919 to honor WWI veterans. The Hudson project team included Security Bank as lender, BRR Architecture as architect, Cerris as general contractor and Olsson as civil engineer.
SHALERSVILLE, OHIO — Piping Rock, a global vitamin and supplement manufacturer, has signed a 408,767-square-foot industrial lease at Turnpike Commerce Center in Shalersville near Cleveland. The lease represents 40 percent of the 1 million-square-foot building’s space. Geis Cos. and Stonemont Financial Group own the newly constructed, Class A facility, which anchors a 470-acre industrial park. Joe Messina and David Stecker of JLL represented ownership in the lease. Fred Herrera and Fred Ragsdale of CBRE represented the tenant. Turnpike Commerce Center features a clear height of 40 feet, cross-dock configuration, 330 trailer spaces, 179 dock positions, 60-foot speed bays and 3,253 square feet of office space. The facility is located less than one mile from the Ohio Turnpike (I-80).
MANCHESTER, N.H. — Colliers has brokered the $3.7 million sale of a 3,366-square-foot restaurant building in Manchester, located near the Massachusetts-New Hampshire border. The newly constructed building is net leased to quick-service franchise Raising Cane’s and features a double drive-thru. Bob Rohrer of Colliers represented the seller, Tatro Road Realty, in the transaction. The buyer was a limited liability company.
SHELTON, CONN. — L’Amy America has signed a 27,461-square-foot industrial lease renewal in Shelton, located in southern Connecticut’s Fairfield County. The provider of eyewear products also signed a 5,016-square-foot lease for its new office headquarters in Shelton at a site that is about a mile away from the warehouse. John Hannigan of locally based brokerage firm Choyce Peterson represented the tenant in both deals.
COMMACK, N.Y. — Gap Factory will open a 12,800-square-foot store in the Long Island community of Commack. The space is located within the 222,000-square-foot Mayfair Shopping Center. E.J. Moawad of Levin Management Corp. represented the undisclosed landlord in the lease negotiations. Michael Friedman of Inline Realty represented the tenant. A prospective opening date has not yet been determined.
ATLANTA — Invesco Commercial Real Estate Finance Trust Inc., a REIT backed by the real estate arm of Atlanta-based global investment manager Invesco (NYSE: IVZ), has provided a $354.6 million loan for the refinancing of a national portfolio of 24 industrial properties totaling roughly 2.4 million square feet. The borrower was Bridge Logistics Properties, an affiliate of Salt Lake City-based Bridge Investment Group (NYSE: BRDG). Information on tenancy, years of construction and existing lease terms of the portfolio was not disclosed, nor were specific loan terms, outside of the debt being structured with a sub-70 percent loan-to-value ratio. The portfolio’s locations are scattered across six states, and the geographic breakdown is as follows: “This financing aligns with our strategy of originating high-quality, income-generating loans secured by institutional-quality assets in what we consider to be the most liquid markets around the United State and Europe,” says Yorick Starr, managing director of Invesco Real Estate.” “This loan is complementary to our existing portfolio of moderate leverage loans made to the highest quality institutional sponsors in the industry,” adds Charlie Rose, global head of credit at Invesco Real Estate. — Taylor Williams
South Florida remains one of the most attractive markets for multifamily investment in the United States, driven by population growth, job creation and limited rental supply. While 2024 saw slower transaction volumes, fundamentals suggest a rebound is coming in 2025. This article explores trends in investment sales, debt capital markets and joint venture (JV) equity, highlighting how strategic structuring and strong relationships are driving activity in today’s selective capital environment. Poised for sales growth Miami’s multifamily market continues to thrive, fueled by population growth, high rental demand and major developments. The city’s job market, with an unemployment rate of just 2.4 percent, is expected to grow by over 18,000 positions in 2025. Corporate expansions — like Citadel, MSC Group, Nvidia, Microsoft and Shopify — have driven demand for luxury rentals, while vacancy rates remain under 5 percent. With home prices rising over 70 percent in the past five years and mortgage rates more than doubling, homeownership is out of reach for many. As a result, demand for luxury rentals remains strong, especially in suburban areas where transit-oriented developments are emerging. One standout is Terra’s $1 billion Upland Park in West Miami-Dade County. In partnership with the county, the project includes …
WASHINGTON D.C. — A joint venture between Henderson Park and Lowe has broken ground on an office-to-residential conversion project at 1250 Maryland Ave. in Washington, D.C. The project team includes architect Beyer Blinder Beller, interior designer KTGY, general contractor Balfour Beatty and landscape architect Oehme, van Sweden | OvS. Deutsche Bank provided a $180 million construction loan for the project. Built in 1992, the former Portals I development is an eight-story, 536,000-square-foot office building that will be transformed into an 11-story, 658,000-square-foot apartment complex. The additional three floors will be integrated into the building design to create large patios on the ninth and 11th floors. The 428-unit complex will also include 53,000 square feet of supporting retail and commercial space, as well as 428 parking spaces. Amenities at the development will include a rooftop resort-style terrace and swimming pool, resident lounge and coworking spaces, a two-story fitness center and dining and personal services offered on the ground floor. The redeveloped building has also been designed to meet LEED Gold specifications.