Property Type

NewQuest Breaks Ground on $400M Mixed-Use Project in Katy, Texas

by Taylor Williams January 27, 2025

KATY, TEXAS — Locally based developer NewQuest has broken ground on Texas Heritage Marketplace, a $400 million mixed-use development in the western Houston suburb of Katy. The site spans 165 acres and fronts both I-10 and the newly completed Texas Heritage Parkway. Plans currently call for approximately 750,000 square feet of retail, restaurant and entertainment space, as well as two apartment communities with about 550 total units and 300,000 square feet of medical office and self-storage space. Target has committed to being a retail anchor with a 149,000-square-foot store. A tentative completion date for the initial phase of construction was not announced.

January 27, 2025

Development Industrial Texas

Triten Real Estate to Develop 392,650 SF Industrial Project in North Houston

by Taylor Williams January 27, 2025

HOUSTON — Locally based developer Triten Real Estate Partners will build a 392,650-square-foot industrial project in North Houston. The site at the intersection of FM 1960 and Kenswick Drive spans 25 acres, and the development will consist of two front-load buildings. The buildings will total 214,558 and 178,002 square feet and will feature 36-foot clear heights and combined parking for 286 cars and 82 trailers. Method Architecture is designing the project, and Harvey Cleary is the general contractor. Construction is scheduled to begin in the first quarter and to be complete before the end of the year.

January 27, 2025

Acquisitions Industrial Texas

3650 Capital, Reap Capital Acquire 167-Unit Apartment Complex in Plano

by Taylor Williams January 27, 2025

PLANO, TEXAS — A partnership between 3650 Capital and Reap Capital has acquired The Calvin, a 167-unit apartment complex in Plano. The Calvin offers one- and two-bedroom units and amenities such as a pool and a dog park. Taylor Snoddy and Charles Hubbard of Northmarq brokered the deal, the seller of which was not disclosed. The new ownership plans to implement a value-add program.

January 27, 2025

Acquisitions Office Texas

David Weekley Homes Buys 50,000 SF Office Building in Northwest Houston

by Taylor Williams January 27, 2025

HOUSTON — David Weekley Homes has purchased a 50,000-square-foot office building located at 8847 W. Sam Houston Parkway in northwest Houston. The locally based residential homebuilder plans to relocate from its current space at 1111 N. Post Oak Road to the new building, which according to LoopNet Inc. was constructed in 2011, before the end of the year. The seller and sales price were not disclosed.

January 27, 2025

Industrial Leasing Activity Texas

Agile Supply Chain Signs 32,350 SF Industrial Lease in Northwest Houston

by Taylor Williams January 27, 2025

HOUSTON — Agile Supply Chain has signed a 32,350-square-foot industrial lease in northwest Houston. The space is located at 7207 Wynnwood Lane in the Shady Acres neighborhood. Abraham Richardson and Grant Wisenbaker of Stream Realty represented the tenant in the lease negotiations. J.D. Diekman, Jon Michael and Ed Bane of Bridge Commercial represented the landlord.

January 27, 2025

Acquisitions Hospitality Massachusetts Northeast

JLL Negotiates $123M Sale of Marriott-Branded Hotel in Downtown Boston

by Taylor Williams January 27, 2025

BOSTON — JLL has negotiated the $123 million sale of a Marriott-branded hotel in downtown Boston. The Courtyard Boston Downtown is a 13-story, 315-room hotel that was originally built in 1925 as the headquarters for Boston’s Lodge No. 10 of the Benevolent and Protective Order of the Elks. The hotel offers amenities such as an onsite bar and restaurant that pays homage to the building’s original function, as well as a fitness center, business center and 12,684 square feet of meeting and event space. The building also houses approximately 46,000 square feet of retail space. Alan Suzuki, Matthew Enright and Emily Zhang of JLL represented the seller, Ashford Hospitality Trust, in the transaction. The buyer was not disclosed.

January 27, 2025

Development Loans Multifamily New Jersey Northeast

LCOR Breaks Ground on 386-Unit Multifamily Project in Hoboken

by Taylor Williams January 27, 2025

HOBOKEN, N.J. — Locally based developer LCOR has broken ground on a 386-unit multifamily project in Hoboken. The 27-story building will be known as Charlie and will be located within the $900 million Hoboken Connect mixed-use development. Units will come in studio, one-, two- and three-bedroom floor plans, with 20 percent of the residences to be reserved as affordable housing, although specific income restrictions were not disclosed. Amenities will include a resident lounge with package room, concierge and pet spa, as well as a second floor and rooftop amenity space with a fitness center, entertainment kitchen, coworking spaces, dining areas and an outdoor pool. Consigli Construction Co. is the general contractor for Charlie, a tentative completion date for which was not disclosed. Jon Mikula, Jim Cadranell and Michael Lachs of JLL arranged a $155 million construction loan through insurance accounts managed by KKR for the project. The loan carried a five-year term and a floating interest rate.

January 27, 2025

Connecticut Loans Multifamily Northeast

Kriss Capital Provides $33.5M Construction Loan for Multifamily Project in Portland, Connecticut

by Taylor Williams January 27, 2025

PORTLAND, CONN. — Kriss Capital, a New York-based private equity firm and bridge lender, has provided a $33.5 million construction loan for a 130-unit multifamily project in Portland, a southern suburb of Hartford. The four-story building will be part of a larger development known as Brainerd Place and will include 11,000 square feet of commercial space. John Harrington of HKS Real Estate Advisors arranged the loan on behalf of the developers, Bright Ravens Development and DiMarco Group. Completion is slated for spring 2026.

January 27, 2025

Acquisitions Hospitality New York Northeast

Marcus & Millichap Brokers Sale of 320-Room Hotel Portfolio in Syracuse

by Taylor Williams January 27, 2025

SYRACUSE, N.Y. — Marcus & Millichap has brokered the sale of a portfolio of two hotels totaling 320 units in Syracuse. The portfolio consists of the 197-room former Holiday Inn Syracuse Liverpool and the 123-room Staybridge Suites Syracuse Liverpool. Hotel amenities include indoor pools, business centers, fitness centers and complimentary airport shuttles. Jerry Swon and Eric Anton of Marcus & Millichap represented the seller in the transaction, and Swon also procured the buyer. Both parties requested anonymity.

January 27, 2025

Leasing Activity New Jersey Northeast Retail

Ace Pickleball Club to Open 26,000 SF Venue in North Brunswick, New Jersey

by Taylor Williams January 27, 2025

NORTH BRUNSWICK, N.J. — Ace Pickleball Club will open a 26,000-square-foot venue in North Brunswick, located roughly midway between Trenton and Newark. The space is located within the 288,000-square-foot Brunswick Shopping Center. Fred Younkin of Levin Management Corp. represented the undisclosed landlord in the lease negotiations. Marta Villa of CBRE represented the tenant. An opening date has not yet been announced.

January 27, 2025

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