Property Type

Venture One Acquires 56,068 SF Industrial Building in Chicago’s Kinzie Corridor

by Kristin Harlow May 16, 2025

CHICAGO — Venture One Real Estate, through its acquisition fund VK Industrial VII LP, has acquired a 56,068-square-foot industrial building located at 235 N. Artesian Ave. in Chicago. The property was vacant at the time of acquisition. Situated in the Kinzie Industrial Corridor, the building features direct access to the central business district. The facility features three docks, one drive-in door and parking for 38 cars. Venture One plans to improve the asset with office renovations, warehouse paint, parking lot paving, energy-efficient warehouse lights, roof replacement and landscaping. Cal Kropke and John Huguenard of JLL represented the undisclosed seller. Larry Goldwasser, Matt Cowie and John Marks of CBRE will market the property for lease. VK Industrial VII is co-sponsored by Venture One and Kovitz Investment Group.

May 16, 2025

Industrial Leasing Activity Texas

Stream Realty Partners Negotiates 27,021 SF Industrial Lease in Houston

by Taylor Williams May 16, 2025

HOUSTON — Stream Realty Partners has negotiated a 27,021-square-foot industrial lease in Houston. The space is located at 1537 Greengrass Drive on the city’s northwest side. Jeremy Lumbreras and Boone Smith of Stream represented the landlord, Texas-based investment firm Stonelake Capital Partners, in the transaction. David Holland of JLL represented the tenant, an entity doing business as JC Zora LLC.

May 16, 2025

Acquisitions Development Multifamily New York Northeast

CBRE Brokers Sale of Multifamily Development Site in White Plains, New York

by Taylor Williams May 16, 2025

WHITE PLAINS, N.Y. — CBRE has brokered the sale of a multifamily development site in White Plains, located north of New York City. The 1.3-acre site at 1 Water St. is located on the eastern edge of the downtown area, directly adjacent to the local public transit station. A partnership between David Gaber of Bijou Properties and Kavneet Sethi of Green Property LLC purchased the site, which is approved for the development of a 301-unit high-rise building, from New Jersey-based Veris Residential. Jeffrey Dunne, Eric Apfel and Travis Langer of CBRE brokered the deal.

May 16, 2025

Delaware Development Multifamily Northeast

JLAM Underway on 300-Unit Windward Ridge Apartments in Dover, Delaware

by Taylor Williams May 16, 2025

DOVER, DEL. — JLAM, an investment and development firm with offices in Delaware and Charlotte, is underway on construction of Windward Ridge, a 300-unit apartment community in Dover. The community will feature one-, two- and three-bedroom units and amenities such as a clubhouse, pool, yoga and fitness studios and wooded walking trails. Leasing is expected to begin sometime next year. Project partners include Architectural Alliance Inc., Erin Marshall Interior Designs, Morris & Ritchie Associates Inc. (civil engineer) and Christiana Excavating (sitework contractor). A general contractor has not yet been selected.

May 16, 2025

Delaware Loans Multifamily Northeast

Largo Capital Arranges $14.5M CMBS Loan for Delaware Manufactured Housing Portfolio

by Taylor Williams May 16, 2025

DELAWARE — Largo Capital, a financial intermediary based in upstate New York, has arranged a $14.5 million CMBS permanent loan for a portfolio of three manufactured housing properties totaling 342 sites in Delaware. The names and addresses of the properties, which collectively span more than 100 acres and were 94 percent occupied at the time of loan closing, were not disclosed. Jack Phillips of Largo Capital originated the nonrecourse, interest-only loan. The borrower and direct lender were also not disclosed.

May 16, 2025

Leasing Activity New York Northeast Office

Law Firm Signs 121,000 SF Office Lease at 1301 Avenue of the Americas in Midtown Manhattan

by Taylor Williams May 16, 2025

NEW YORK CITY — Law firm Benesch, Friedlander, Coplan & Aronoff LLP has signed a 121,000-square-foot office lease at 1301 Avenue of the Americas, a 45-story, 1.8 million-square-foot building in Midtown Manhattan. The lease term is 16.5 years, and approximately 30,000 square feet is short-term space. Frank Doyle, David Kleiner and Andrew Coe of JLL represented the landlord, New York City-based Paramount Group, in the lease negotiations. Mark Weiss of Cushman & Wakefield represented the tenant.

May 16, 2025

Delaware Leasing Activity Northeast Retail

NAI Emory Hill Negotiates 18,790 SF Retail Lease in Wilmington, Delaware

by Taylor Williams May 16, 2025

WILMINGTON, DEL. — NAI Emory Hill has negotiated an 18,790-square-foot retail lease in Wilmington. Lexus of Wilmington has leased the building at 3401 N. Market St., which features six lifts, 18-foot ceilings and three drive-in doors, to house its new automotive repair facility. Rich Dudek of NAI Emory Hill represented the undisclosed landlord in the lease negotiations.

May 16, 2025

Acquisitions Kentucky Mixed-Use Restaurant Retail Southeast Top Stories

Hendricks Commercial Properties Acquires Summit at Fritz Farm Mixed-Use Development in Lexington, Kentucky

by John Nelson May 16, 2025

LEXINGTON, KY. — Hendricks Commercial Properties, a Wisconsin-based development and investment firm, has acquired The Summit at Fritz Farm, a mixed-use development in Lexington that opened in 2017. The development features a collection of more than 60 shops and restaurants that sit below modern offices and The Henry apartments. Some components of the development that were not included in the sale include the Origin Lexington hotel and a 192-unit seniors housing community, Legacy Reserve at Fritz Farm. Hendricks did not disclose the sales price or specific aspects of the acquisition beyond the commercial space. Hendricks acquired the development from a partnership between Swift Creek Real Estate Partners and Centennial Real Estate Management LLC, which has owned The Summit at Fritz Farm since acquiring the original developer, Birmingham, Ala.-based Bayer Properties, in 2022. “We are excited to add Fritz Farm to our portfolio,” says Rob Gerbitz, CEO of Hendricks Commercial Properties. “This acquisition aligns with our strategic vision of investing in high-quality, experiential mixed-use properties that serve as community hubs. We look forward to building upon the strong foundation established at Fritz Farm and continuing to enhance the experience for tenants and guests alike.” Whole Foods Market, Pottery Barn and Arhaus anchor …

May 16, 2025

Archival-Records-Storage-Facility-Pflugerville

Development Industrial Texas

JE Dunn Begins Construction on $210M Industrial, Office Project in Metro Austin

by Taylor Williams May 15, 2025

PFLUGERVILLE, TEXAS — General contractor JE Dunn has broken ground on a $210 million industrial and office project in the northern Austin suburb of Pflugerville. Designed by McKinney York Architects, the 242,000-square-foot, build-to-suit project will serve as an archival and records storage facility for the Texas State Library & Archives Commission. The new facility will replace the existing storage center on Shoal Creek Boulevard with almost double the storage capacity while reserving space for future growth. Completion is slated for fall 2027.

May 15, 2025

Civic Development Texas

Swinerton Breaks Ground on 100,000 SF Municipal Complex in Rowlett, Texas

by Taylor Williams May 15, 2025

ROWLETT, TEXAS — General contractor Swinerton has broken ground on a 100,000-square-foot municipal complex in Rowlett, a northeastern suburb of Dallas. Designed by Hoefer Welker, the complex will serve as the new home of municipal departments and facilities such as city hall, the police and fire administration, court system, jail and animal shelter. The complex will also feature community park space. An exact completion date was not announced.

May 15, 2025

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