Property Type

IPA Brokers $27.5M Sale of Medical Office Building in Greenbelt, Maryland

by John Nelson July 23, 2025

GREENBELT, MD. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $27.5 million sale of Maryland Trade Center III, a 192,000-square-foot medical office building in Greenbelt, a suburb of Washington, D.C. Robert Filley of IPA, along with Chez Eider of Marcus & Millichap, represented the seller, an entity doing business as Greenbelt Trade Center LLC. The duo also procured the buyer, CPF-HCRE – Greenbelt LLC, an affiliate of Chicago Pacific Founders. Brian Hosey served as Marcus & Millichap’s broker of record in Maryland for the transaction. Completed in 1989, Maryland Trade Center III is situated across from the Greenbelt Center shopping mall and within a half-mile of Luminis Health’s hospital and long-term recovery care center. Luminis Health recently selected the Class A building for its expansion of outpatient services. The property was 75 percent leased at the time of sale to tenants including Luminis Health, Greenbelt Oncology, Absolute Care of Maryland, LabCorp, Community Radiology Associates, Anne Arundel Dermatology and Health First Medical Group. Maryland Trade Center III has been upgraded in recent years with a new lobby and systems upgrades. Amenities include a two-story atrium lobby, tenant-only fitness center and a daycare facility.

July 23, 2025

Acquisitions District of Columbia Office Southeast

In-Rel Properties Acquires 130,000 SF Office Building in D.C.

by John Nelson July 23, 2025

WASHINGTON, D.C. — In-Rel Properties, a real estate investment and management firm based in Lake Worth Beach, Fla., has purchased a nearly 130,000-square-foot office building located at 2033 K St. NW in Washington, D.C.’s Golden Triangle district. The seller and sales price were not disclosed. In-Rel has tapped Carroll Cavanagh, Dimitri Hajimihalis and Emily Eppolito of CBRE to spearhead the leasing campaign at 2033 K Street. Renovated in 2019, the eight-story office building features a new lobby, fitness facility and conference center. In-Rel plans to install “town hall” speculative suites on the second and third floors to boost occupancy at the office building, which has a block of up to 60,000 square feet of contiguous space available for lease.

July 23, 2025

Florida Leasing Activity Restaurant Retail Southeast

New Retailers, Restaurants Lease Space on Lincoln Road in Miami Beach

by John Nelson July 23, 2025

MIAMI BEACH, FLA. — The Lincoln Road Business Improvement District (BID) has announced a new wave of retailers and restaurants opening on Lincoln Road, the retail high street of Miami Beach. The new concepts include All’Antico Vinaio, an Italian sandwich concept that will occupy 1,793 square feet at 647 Lincoln Road; Che by Chelsey, an apparel concept that opened its 675-square-foot boutique at 830 Lincoln Road in May; and Davinci Gelato, which opened its 1,350-square-foot gelato shop at 645 Lincoln Road in May. Other newcomers will include Prince Street Pizza and Negroni Caffe & Sushi Bar, which will open before the end of the year, as well as Noble 33’s Mediterranean dining concept Meduza Mediterrania, which will open in 2026. Additionally, Victoria’s Secret and PINK have relocated to a newly built-out space spanning 7,500 square feet at 900-904 Lincoln Road, and Beverly Hills-based Alo Yoga will open a new flagship spanning 13,480 square feet at 100 Lincoln Road, a space that has been vacant for a few years.

July 23, 2025

Acquisitions Industrial Texas

Alterra Acquires Industrial Outdoor Storage Facility in North Houston

by Taylor Williams July 23, 2025

HOUSTON — Philadelphia-based investment firm Alterra IOS has acquired an industrial outdoor storage facility in North Houston. The 3.7-acre facility at 1960 S. Starpoint Road is adjacent to George Bush International Airport and features two warehouses totaling 17,880 square feet that are leased to national tenants in the oil and gas production and pumping services sector. Jack Zalta of KSR NY brokered the deal. The seller and sales price were not disclosed.

July 23, 2025

Leasing Activity Office Texas

Brightline Dealer Advisors Signs 10,601 SF Office Lease at HALL Park in Frisco

by Taylor Williams July 23, 2025

FRISCO, TEXAS — Brightline Dealer Advisors has signed a 10,601-square-foot office lease at HALL Park in Frisco. The automotive insurance brokerage firm is relocating from nearby Addison and has committed to The Tower at HALL Park, a 16-story building, for 10 years. Michael Griffin of Transwestern represented the tenant, which plans to take occupancy of its new space in November, in the lease negotiations. Kim Butler, Rena Padachy and Brad Gibson represented the landlord, HALL Group, on an internal basis.

July 23, 2025

Development Healthcare New York Northeast

Suffolk Breaks Ground on 500,000 SF Healthcare Expansion Project in White Plains, New York

by Taylor Williams July 23, 2025

WHITE PLAINS, N.Y. — Boston-based general contractor Suffolk has broken ground on a 500,000-square-foot healthcare expansion project in White Plains, located north of New York City. According to New York YIMBY, the project carries a total construction cost of about $750 million. The expansion of White Plains Hospital will feature a 10-story building that will increase the facility’s licensed bed capacity from 292 to 436 and add 10 more operating rooms across a dedicated floor. These additions will serve to effectively double the size and capabilities of the hospital’s emergency care department. Completion is scheduled for 2028.

July 23, 2025

Development Office Washington Western

Skanska Completes 799,933 SF The Eight Office Tower in Bellevue, Washington

by Amy Works July 23, 2025

BELLEVUE, WASH. — Skanska Commercial Development, with Pickard Chilton as architect, has completed The Eight, a 25-story office tower at 10770 NE 8th St. in Bellevue. The 799,933-square-foot tower features ground-floor retail space, an office lobby, publicly accessible lobby lounge, column-free floor plates, 14-foot ceilings and an independent pavilion. Project partners included Skanska USA as general contractor, Adamson Associates as architect of record, Magnusson Klemencic Associates as structural engineer and Michael Hsu Office of Architecture as interior designer.

July 23, 2025

Acquisitions Civic Northeast Pennsylvania

JLL Negotiates $74.4M Bankruptcy Sale of University of the Arts Portfolio in Downtown Philadelphia

by Taylor Williams July 23, 2025

PHILADELPHIA — JLL has negotiated the $74.4 million bankruptcy sale of the University of the Arts Portfolio, a collection of nine academic properties totaling roughly 760,000 square feet in downtown Philadelphia. Named after the academic institution that closed last year, the portfolio comprises a mix of educational facilities, theaters, dormitories and office buildings. These include Terra Hall, a 17-story educational facility, and Hamilton Hall, the oldest building on Broad Street that was constructed in 1824. Jim Galbally, Fran Coyne, Samantha Kupersmith, Brett Segal, Carl Fiebig and Tyler Margraf of JLL worked on behalf of the bankruptcy trustee, Alfred T. Giuliano Trustee, to arrange the buyers for the transaction.

July 23, 2025

California Development Industrial Western

9th St., Clarion Break Ground on 473,250 SF Manufacturing Project at Bayside Technology Park in Fremont

by Amy Works July 23, 2025

FREMONT, CALIF. — 9th St. Partners LLC and Clarion Partners have broken ground on Campus at Bayside, an advanced manufacturing business park within Bayside Technology Park in Fremont. At full build-out, the six-building campus will offer 473,250 square feet of industrial space. Scheduled for delivery in second-quarter 2026, Phase I will feature 253,472 square feet across three buildings, designed to accommodate advanced manufacturing and R&D users. Each building will include a clear height of 32 feet, ESFR sprinkler systems and 4,000 amps of power with the ability to bring more power to the site. Phase I will include: – Building I: a 101,600-square-foot asset (expandable to 104,600 square feet), including 6,000 square feet of speculative office space (expandable to 12,000 square feet), 178 auto parking stalls, 11 dock-high and two grade-level doors, a 125-foot truck court and 10 EV charging stations; – Building 2: a 74,913-square-foot property with 5,020 square feet of office space, 119 auto parking stalls, eight dock-high doors and one grade-level door, a 125-foot truck court and 13 EV charging stations; – Building 3: a 76,959-square-foot facility (expandable to 78,959 square feet) with 4,000 square feet of speculative office space (expandable to 8,000 square feet), 140 auto parking …

July 23, 2025

Acquisitions Multifamily Nevada Student Housing Western

Kidder Mathews Arranges $14M Sale of LEV Apartments in Reno, Nevada

by Amy Works July 23, 2025

RENO, NEV. — Kidder Mathews has arranged the sale of LEV Apartments, a multifamily property located at 1617 N. Virginia St. in Reno. A Sacramento, Calif.-based private real estate investment firm acquired the asset from a student housing developer for $14 million. Situated adjacent to the University of Nevada, Reno, LEV Apartments features 128 studio/one-bath units and a one-bedroom/one-bath unit all with shared kitchen areas. At the time of sale, the property was 98 percent occupied. The asset was originally built in 1980 by the Saltern family. Ben Nelson of Kidder Mathews represented the seller and buyer in the transaction.

July 23, 2025

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