Saturday, October 4, 2025
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DevelopmentMarylandSeniors HousingSoutheast

Capitol Seniors Housing Opens $27.5M Assisted Living, Memory Care Community Near D.C.

by John Nelson

FULTON, MD. — Capitol Seniors Housing has opened Arbor Terrace Fulton, an assisted living and memory care community in Fulton, approximately 20 miles north of Washington, D.C. The $27.5 million, 73,000-square-foot community features 86 apartments. The location is immediately adjacent to the Marketplace at Maple Lawn, a mixed-use community anchored by Harris Teeter. Arbor Terrace Fulton is also next to Fulton Elementary, Lime Kiln Middle School and the Reservoir High School, which will add an intergenerational quality to the community. The Arbor Co. partnered with Capitol on the project, and will serve as operator. Baltimore-based BCT Architects designed the property, while Dallas-based Faulkner Design Group handled the interiors.

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Market ReportsNortheastNortheast Market ReportsOfficePennsylvania

Rent Growth in Pittsburgh Office Market Leads to Development Wave

by Taylor Williams

The Pittsburgh office market has experienced significant new development over the last five years, particularly in the urban and downtown fringe submarkets. This is expected to continue in the coming years, with several new developments that are currently in planning or under construction. Historically, urban office supply in Pittsburgh has been constrained due to the economic hurdles of new development. With limited sites for new projects, land costs at a premium and significant site work required, Pittsburgh’s nominal rent growth did not allow for economically viable projects. However, rent growth in recent years has led to a new wave of development, which has accommodated companies moving to Pittsburgh along with existing businesses growing and/or relocating within the market. Most of the new office development has taken place in urban submarkets surrounding downtown, including the Strip District, Oakland, East Liberty and the North Shore. These submarkets have attracted more development than the CBD due to greater availability of development sites, as well as lower construction costs. Development Pockets Total development costs of Class A office buildings on the fringe of the CBD are generally $250 to $300 per square foot. For this project cost, gross rents in the range of $30 …

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AcquisitionsMultifamilyNevadaStudent HousingTexasTop StoriesWestern

Preiss, BCEG International Acquire Two Student Housing Communities Totaling 1,104 Beds in San Antonio, Las Vegas

by Kristin Harlow

SAN ANTONIO AND LAS VEGAS — The Preiss Co. (TPCO), in a joint venture partnership with BCEG International Investment US (BCEGI), has acquired the 624-bed High View Place Student Apartments in San Antonio and the 480-bed Rebel Place in Las Vegas. Neither the sellers nor purchase prices were disclosed. Located at 15949 Chase Hill Blvd. and serving the University of Texas at San Antonio student population, High View Place offers a variety of one-, two- and four-bedroom floor plans. Each of the 204 units includes a kitchen, balcony, in-unit washer and dryer, 50-inch TV, complimentary high-speed internet and cable, and walk-in closets. Amenities include study spaces, a clubhouse, computer lab, swimming pool, gaming center, sand volleyball court and grilling area. TPCO is overseeing a multi-million refurbishment of the property, which marks the company’s third acquisition in the San Antonio market in the last 12 months. Plans call for electronic key-fob installation and upgrades to the interior flooring, amenities and internet service. Rebel Place is located at 3896 Swenson St. near the University of Nevada, Las Vegas. Each fully furnished apartment includes energy-efficient appliances, cable television packages, internet and in-unit washer and dryers. Community amenities include a fitness center, picnic area, …

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Data CentersDevelopmentLeasing ActivityOfficeTexas

Google Breaks Ground on $600M Data Center in Midlothian, Signs Two Office Leases in Austin

by John Nelson

MOUNTAIN VIEW, CALIF. — Search engine giant Google has announced a heavy investment in the state of Texas. The company has broken ground on a new $600 million data center in Midlothian. The project will serve as Google’s first data center in Texas. The tech firm has also executed two new office leases in Austin where there are already 1,100 Google employees working across various platforms including Android, G Suite, Google Play, Cloud and general office functions like operations and marketing. Google has leased space at Trammell Crow Co.’s Block 185 project in downtown Austin. The Austin American-Statesman reports that Google will lease the entire 35-story tower, which is located at West Cesar Chavez and Nueces streets. The newspaper also reports that Google has leased seven stories of office space totaling 150,000 square feet within the Saltillo mixed-use project. Local developer Endeavor Real Estate Group is building the East Austin project and will serve as Google’s new landlord. These new commitments are part of Google’s larger $13 billion investment in offices and data centers across the United States that was announced back in February.

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AcquisitionsNorth CarolinaOfficeSoutheast

Crescent Communities, Nuveen Acquire 546,878 SF Office Tower in Uptown Charlotte

by Alex Tostado

CHARLOTTE, N.C. — A joint venture between Crescent Communities and Nuveen Real Estate has acquired 101 North Tryon, a 20-story office building in Uptown Charlotte that was renovated in 2018. HFF arranged the sale of the 546,878-square-foot office building, which was 81 percent leased at the time of sale to tenants including Bank of America, Robinson Bradshaw & Hinson PA, Spaces, Sunlight Financial and Northeastern University. The property is situated near more than 100 restaurants and retailers; Bank of America Stadium, which is home to the NFL’s Carolina Panthers; Spectrum Center, which is home to the NBA’s Charlotte Hornets; and several of Charlotte’s major transportation hubs. BBVA and US Bank provided acquisition financing to the buyer. Barry Fabyan and Charley Leavitt of JLL will lead leasing efforts on behalf of the new owners. Ryan Clutter, Scot Humphrey, Chris Lingerfelt and Zack Drozda of HFF represented the seller, Barings LLC, in the transaction. Patterson Real Estate Advisory Group represented the buyers. The sales price was not disclosed.

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AcquisitionsFloridaOfficeSoutheast

Cushman & Wakefield Negotiates $52M Sale of Office Building in Tampa

by Alex Tostado

TAMPA, FLA. — Cushman & Wakefield has negotiated the sale of Westshore Center, a 217,022-square-foot office building in Tampa’s Westshore district. The Tampa Bay Business Journal reports the building traded for $52 million. The seller was Roseview-PMRG Fund I, a fund managed by Boston-based Roseview Investment Advisors. America’s Capital Partners acquired the nine-story building, which is situated at 1715 N. Westshore Blvd., five miles west of downtown Tampa and three miles south of Tampa International Airport. The building was originally delivered in 1984 and has undergone more than $2.5 million in renovations and upgrades over the past several years. The building was 84 percent leased at the time of sale to tenants including Reynold Smith & Hill, United Soccer Leagues and USI Insurance Services. Mike Davis, Rick Brugge and Rick Colon of Cushman & Wakefield represented the seller in the transaction.

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DevelopmentFloridaLeasing ActivityRestaurantRetailSoutheast

Three Retailers Return to Miami Beach’s Lincoln Road, Two Food Halls Debut

by Alex Tostado

MIAMI BEACH, FLA. — Lincoln Road Business Improvement District (BID) has announced three retailers are returning to Lincoln Road, Miami Beach’s high street for upscale retail, restaurants and entertainment. The three retailers — Fritz’s Skate, Bike & Surf Shop; Dog Bar; and Lulu Laboratorium — all had original locations on Lincoln Road. Fritz’s originally opened on Lincoln Road in 1989. Dog Bar, a full-service pet boutique, moved back into its original location on Lincoln Road. Lulu Laboratorium is situated on the corridor’s 1100 block. Two food halls also opened earlier this year on Lincoln Road. Time Out Market features 17 eateries, a demo kitchen and three bars serving craft cocktails. Lincoln Eatery spans 9,600 square feet and includes 16 fast-casual, artisan and grab-and-go concepts. In addition to food and retail, the Lincoln Road BID sponsors free events that range from farmers markets to concerts to fitness classes.

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GreenSpace-Self-Storage-Pearland-Texas
DevelopmentIndustrialSelf-StorageTexas

GreenSpace to Develop 1,000-Unit Self-Storage Facility in Pearland, Texas

by Taylor Williams

PEARLAND, TEXAS — GreenSpace Self-Storage LLC will develop a 1,000-unit facility on a 2.4-acre parcel in the southwestern Houston suburb of Pearland. The Class A property will offer 100,000 square feet of net rentable space, with both climate- and non-climate-controlled units. Construction is scheduled to begin later this year. Chris Bergmann Jr. of JLL represented GreenSpace, which also has projects underway in Sacramento, Philadelphia and Portland, in the land acquisition deal.

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Alta-Baytown-Texas
DevelopmentMultifamilyTexas

Wood Partners Opens 336-Unit Multifamily Property in Metro Houston

by Taylor Williams

BAYTOWN, TEXAS — Wood Partners, a multifamily development and investment firm with offices around the country, has opened Alta Baytown, a 336-unit apartment community located in the eastern Houston suburb of Baytown. Floor plans feature one-, two- and three-bedroom units with granite countertops, custom backsplashes and full-size washers and dryers. Amenities include a business center with two private conference rooms, fitness center, bike shop and a pet park. Rents start at roughly $1,000 per month for a one-bedroom unit, according to apartments.com.

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