Property Type

Los Angeles’ Industrial Market Offers Users Compelling Opportunities

by John Nelson May 6, 2025

— By Patrick Barnes of Avison Young — The Los Angeles industrial property market has experienced increasing space availability and shifting tenant priorities over the past several quarters. Due to concerns about potential labor strikes at East and Gulf Coast ports, the anticipated surge in short-term sublease demand failed to materialize in the fourth quarter of 2024. Additionally, with a labor contract agreement reached in January, any lingering expectations that rerouted shipments would continue to bolster West Coast activity have largely dissipated. Despite a 21.7 percent year-over-year increase in TEU (twenty-foot equivalent unit) volume from 2023 to 2024, sublease availability has risen significantly as TEU tenants have either warehouse capacity or shipments leaving the region by rail. Companies today are reassessing their space needs, focusing on cost savings and operational optimization rather than expansion to deal with inflation and tariffs. Sublease space increased by 12.8 percent quarter over quarter, reaching 11.2 million square feet and pushing the overall availability rate to 9.3 percent. These changes have also led to a drop in industrial rental rates. After peaking at $1.97 per square foot in 2023, average rents have fallen 26.4 percent to $1.45 per square foot in fourth-quarter 2024. However, Class …

May 6, 2025

Development Healthcare Texas

Cambridge Holdings Breaks Ground on $50M Medical Office Building at Frisco Station

by Taylor Williams May 5, 2025

FRISCO, TEXAS — Dallas-based Cambridge Holdings Inc. has broken ground on a medical office building within the 242-acre Frisco Station mixed-use development on the northern outskirts of Dallas. According to multiple media outlets, including The Dallas Business Journal, the project has a $50 million price tag. The site is located on the northwest quadrant of Dallas North Tollway and Warren Parkway, adjacent to The Star, and the building will total 85,800 square feet. Compass Surgical Partners, Orthopedic Institute of North Texas and Lam Vascular & Associates have committed to being the project’s anchor tenants. Perkins&Will is the project architect, and Rogers-O’Brien Construction is the general contractor. Kimley-Horn is providing civil engineering services, and Transwestern has been tapped as the leasing agent. Completion is slated for late 2026. A partnership between Hillwood, VanTrust Real Estate and The Rudman Partnership owns Frisco Station.

May 5, 2025

Acquisitions Industrial Texas

CenterPoint Buys 254,705 SF TruePort Distribution Center in Deer Park, Texas

by Taylor Williams May 5, 2025

DEER PARK, TEXAS — Chicago-based investment and development firm CenterPoint Properties has purchased the 254,705-square-foot TruePort Distribution Center in Deer Park, an eastern suburb of Houston. According to LoopNet Inc., the facility was built on 13 acres in 2024 and features 36-foot clear heights, 44 dock doors and 145 standard parking spaces. Trent Agnew, Charlie Strauss and Lance Young of JLL brokered the deal. The seller and sales price were not disclosed. The property was fully leased at the time of sale to personal protection safety products manufacturer Ironwear.

May 5, 2025

Civic Development Texas

AP Construction Begins Renovation, Expansion of Christ the King Catholic Church, School in Dallas

by Taylor Williams May 5, 2025

DALLAS — Adolfson & Peterson (AP) Construction has begun the renovation and expansion of Christ the King Catholic Church and School in Dallas. Designed by Beck Architecture, the project will include a complete renovation of Parish Hall and demolition of Bernadine Hall, which will be replaced by a new, 25,000-square-foot academic building. The project team will also add a new chapel and courtyard and relocate the church business office. Construction will be carried out in phases, with the groundbreaking to take place in the coming weeks and completion slated for next summer.

May 5, 2025

Industrial Leasing Activity Texas

ProSource Industries Signs 104,830 SF Industrial Lease in Grand Prairie, Texas

by Taylor Williams May 5, 2025

GRAND PRAIRIE, TEXAS — ProSource Industries, a manufacturer of wire harnesses, cable assemblies and electrical control panels, has signed a 104,830-square-foot industrial lease in the central metroplex city of Grand Prairie. According to LoopNet Inc., the cross-dock facility at 602 Fountain Parkway was built on 13.8 acres in 1970, totals 300,705 square feet and features five drive-in bays, 16 exterior dock doors and 532 standard parking spaces. Langston Sutcliffe of Partners Real Estate represented the tenant in the lease negotiations. Stream Realty Partners represented the landlord, Dallas-based Leon Capital.

May 5, 2025

Acquisitions Florida Leasing Activity Office Southeast

JLL Arranges $40M Sale-Leaseback of Office, TV Studio Building in West Palm Beach

by John Nelson May 5, 2025

WEST PALM BEACH, FLA. — JLL Capital Markets has arranged the $40 million sale-leaseback of 1100 Banyan, a 70,131-square-foot office and TV studio building in West Palm Beach. Simon Banke, Matt McCormack, Joe Judge and Anna Schaffer of JLL represented the seller, The E.W. Scripps Co., and procured the buyer, a joint venture between Related Ross, Wexford Real Estate Investors and Key International. Cincinnati-based Scripps is leasing the entire property from the new ownership for a minimum of 2.5 years. Completed in 2000, 1100 Banyan is a two-story building that houses Scripps’ WPTV news studio and office space. The fully leased property also includes a 170-space parking garage and 33 surface parking spaces.

May 5, 2025

Acquisitions North Carolina Retail Southeast

Cushman & Wakefield | Thalhimer Brokers $7.3M Sale of Satterfield Landing Shopping Center in Outer Banks

by John Nelson May 5, 2025

NAGS HEAD, N.C. — Cushman & Wakefield | Thalhimer’s Capital Markets Group has brokered the $7.3 million sale of Satterfield Landing Shopping Center, a 49,897-square-foot shopping center located in North Carolina’s Outer Banks region. Situated at South Croatan Highway at West Satterfield Landing Road in Nags Head, the center sits on 6.2 acres and is fully leased to T.J. Maxx, Staples and OBX Martial Arts. Clark Simpson and Erik Conradi of Thalhimer’s Virginia Beach office represented the seller, an entity doing business as Satterfield Landing LLC, in the transaction. The Overland Group was the buyer.

May 5, 2025

Leasing Activity Retail Texas

Sprouts Farmers Market to Open 23,434 SF Store in New Braunfels, Texas

by Taylor Williams May 5, 2025

NEW BRAUNFELS, TEXAS — Sprouts Farmers Market will open a 23,434-square-foot store in New Braunfels, a northeastern suburb of San Antonio. The space is located within Creekside Town Center, a 400-acre mixed-use development by Houston-based NewQuest. The store will be among the first in the region for the Phoenix-based grocer. Construction is underway, and the opening is slated for the first quarter of next year.

May 5, 2025

Affordable Housing District of Columbia Loans Multifamily Southeast

Colliers Mortgage Arranges $5.7M HUD-Insured Loan for Refinancing of Stanton Park Apartments in D.C.

by John Nelson May 5, 2025

WASHINGTON, D.C. — Colliers Mortgage has arranged a $5.7 million HUD-insured loan to refinance Stanton Park Apartments, a 62-unit affordable housing community located in Washington, D.C. As part of the refinance, the Non-Profit Community Development Corp. of Washington, D.C. (NPCDC) has obtained an extension for its use restriction to preserve its affordable housing options while operating under the Low-Income Housing Tax Credit (LIHTC) program. The HUD loan features a 35-year term and amortization schedule. Stanton Park Apartments comprises three one-bedroom units, 42 two-bedroom units and 17 three-bedroom units. Laundry facilities are located in each building, while disabled-accessible units contain an in-unit washer/dryer. Additional amenities at the property include barbecue and picnic areas and onsite parking.

May 5, 2025

Development Louisiana Retail Southeast

Kia of Covington Opens New Car Dealership in Louisiana

by John Nelson May 5, 2025

COVINGTON, LA. — Kia of Covington has opened a new dealership located at 69010 Highway 190 at I-12 in Covington, a city in Louisiana’s Northshore region in St. Tammany Parish. The dealership includes a spacious showroom, parts and service center and the opportunity for buyers to test drive new 2025 Kia models. Jason Reibert and Mike Saucier of Gulf States Real Estate & Construction Services led and managed Greenleaf Architects and High Tide Consultants throughout the project on behalf of Kevin Szura, president of Kia of Covington. Gulf States also helped with the site selection process for the new dealership. Kia of Convington plans to host a grand opening celebration for the general public in mid-May.

May 5, 2025

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