Tuesday, July 7, 2026
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Park-&-Arbor-Old-Tappan-New-Jersey
DevelopmentMultifamilyNew JerseyNortheast

Hornrock Properties Completes 110-Unit Apartment Complex in Old Tappan, New Jersey

by Taylor Williams

OLD TAPPAN, N.J. ­— Locally based developer Hornrock Properties has completed Park & Arbor, a 110-unit apartment building in Old Tappan, located on the New York-New Jersey border. The property houses one-, two- and three-bedroom units and 21,000 square feet of retail and restaurant space. Indoor amenities include a fitness center, café, conference rooms, package lockers, children’s playroom and a clubroom/speakeasy with a bar, arcade, card table and billiards. Outside, residents have access to a pool, grilling and dining areas, multiple gardens/courtyards, putting green, pet walking area and a bocce ball court. Mary Cooke Associates handled interior design of the project. Leasing launched last fall. Rents for available one-bedroom apartments start at $3,800 per month.

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AcquisitionsNortheastRetailVermont

Chozick Realty Negotiates $9.8M Sale of Shopping Center in Morrisville, Vermont

by Taylor Williams

MORRISVILLE, VT. — Regional brokerage firm Chozick Realty has negotiated the $9.8 million sale of Morrisville Plaza, a 104,380-square-foot shopping center in upstate Vermont. Marshalls and Ocean State Job Lot anchor the center, which was built on 11 acres in the early 1990s and is also home to McDonald’s, Kinney Drugs, TD Bank and M&T Bank. Tom Boyle of Chozick Realty represented the buyer and seller, both of which requested anonymity, in the transaction.

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Leasing ActivityNew YorkNortheastOffice

Synthesia Signs 13,600 SF Office Lease at 245 Fifth Avenue in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — Synthesia, a generative artificial intelligence platform, has signed a 13,600-square-foot office lease at 245 Fifth Avenue, a 24-story, 316,495-square-foot building in Midtown Manhattan. The lease term is five years. Dennis Someck and Justin Myers of Lee & Associates represented the tenant in the lease negotiations. Scott Klau, Erik Harris, Zach Weil, Cole Gendels and Ben Klau of Newmark represented the landlord, The Moinian Group.

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W New York – Union Square's living room
DevelopmentHospitalityNew YorkNortheastTop Stories

Marriott Completes $100M Renovation of W New York – Union Square Flagship Hotel in Manhattan

by Abby Cox

NEW YORK CITY — W Hotels, part of Marriott Bonvoy’s collection of 30 hotel brands, has completed the $100 million renovation of W New York – Union Square, a 256-room luxury hotel in Manhattan. Locally based Rockwell Group, the original architect behind the hotel’s debut in 2001, led the renovation. Marriott International Inc. (NASDAQ: MAR) has owned and operated the hotel since acquiring the property in October 2019 for $206 million. Located at 201 Park Ave. S in Manhattan’s Union Square neighborhood, the transformation of the hotel has been reimagined to preserve the original historic architecture while launching as the brand’s global flagship property. The property opened in 1911 as the headquarters office for Guardian Life Insurance Co. of America and was converted as a W hotel in 2000. “W New York – Union Square holds a special place in our global portfolio. It is at the heart of our brand, powered by the pulse of our birthplace, New York City,” says George Fleck, senior vice president and global brand leader of W Hotels. The overhaul included the hotel’s entrance, which now has a remodeled, carpeted staircase, houndstooth banquette welcome desks, marble floors and a mural by artist Shantell Martin. The staircase leads to …

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AcquisitionsMultifamilyTexas

Cortland Acquires 444-Unit Apartment Community in Northwest Houston

by Taylor Williams

HOUSTON — Atlanta-based multifamily investment firm Cortland has acquired Wynnewood at Wortham, a 444-unit apartment community in northwest Houston. According to Apartments.com, the property was built in 1998 and features one-, two- and three-bedroom floor plans that range in size from 719 to 1,254 square feet. Amenities include a clubhouse, leasing center, fitness and business center, two pools, two dog parks, a car wash station and multiple grills. The new ownership plans to implement a capital improvement program and to rebrand the property as Cortland Wortham. The seller and sales price were not disclosed.

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Nichols-Park-Apartments-Austin
AcquisitionsLoansMultifamilyTexas

Newmark Brokers Sale of 200-Unit Nichols Park Apartments in Southwest Austin

by Taylor Williams

AUSTIN, TEXAS — Newmark has brokered the sale of Nichols Park, a 200-unit apartment complex in southwest Austin. Built in 1985, Nichols Park offers one- and two-bedroom units with an average size of 670 square feet. Amenities include a pool, basketball court, dog park, outdoor grilling stations and a community lounge and coffee bar. Jim Young, Patton Jones, Andrew Dickson and Matt Michelson of Newmark represented the seller, Austin-based Thrive FP, in the transaction. Mesa West Capital provided a $23.4 million acquisition loan to the buyer, Los Angeles-based investment firm DreamField Capital. Nichols Park was 96 percent occupied at closing.

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DevelopmentFloridaLeasing ActivityMixed-UseRetailSoutheast

Gateway Jax Signs Publix to Anchor $2B Pearl Square Mixed-Use Development in Jacksonville

by John Nelson

JACKSONVILLE, FLA. — Gateway Jax has signed a lease with Publix to anchor Pearl Square, a 1.5 million-square-foot mixed-use development underway in downtown Jacksonville. The new Publix will span 31,000 square feet in a building that will also include a 15-story residential tower with 250 apartment units and 400 parking spaces. Gateway Jax and Corner Lot are expected to begin construction on the grocery store in summer 2026. Matthew Clark of Colliers handles the retail leasing assignment at Pearl Square on behalf of Gateway Jax. Upon completion of Pearl Square, the $2 billion development will comprise 1,250 residential units, approximately 200,000 square feet of retailers and restaurants and a renovation of the 100-room Ambassador Hotel. The project will also include new public spaces and parks, widened and shaded sidewalks, as well as a curbless festival street with outdoor dining options. A timeline for completion has not been disclosed. Gateway Jax is a locally based real estate development firm sponsored by JWB Real Estate Capital and DLP Capital.

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Ascension-Seton-Williamson-Round-Rock
DevelopmentHealthcareTexas

Brasfield & Gorrie Tops Out 152,000 SF Healthcare Project in Metro Austin

by Taylor Williams

ROUND ROCK, TEXAS — General contractor Brasfield & Gorrie has topped out a 152,000-square-foot healthcare project in the northern Austin suburb of Round Rock. The building is known as Ascension Seton Williamson and is part of a larger campus of healthcare provider and seniors housing operator Ascension. A tentative completion date was not disclosed. In addition to construction of Ascension Seton Williamson, some 100,000 square feet of renovations and expansions are underway across the surgery and emergency departments and medical office building on the campus.

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AcquisitionsDevelopmentGeorgiaRetailSoutheast

Gwinnett County to Acquire Former Sears at Gwinnett Place Mall in Metro Atlanta

by John Nelson

DULUTH, GA. — The Urban Redevelopment Agency of Gwinnett County has approved the purchase of a former Sears department store at Gwinnett Place Mall, a struggling shopping mall situated off Pleasant Hill Road near the I-85 exit in metro Atlanta. Northwood Ravin will sell the 11.5-acre site to the county for $11.5 million, the same price the Charlotte-based multifamily developer paid for the property in 2018. With the Sears acquisition, Gwinnett County now owns a combined 87.5 acres at Gwinnett Place Mall. Plans for the mall redevelopment include a mixed-use destination that is “green and walkable.” The county and the mall’s redevelopment consultant, CBRE, will release a nationwide request for proposal (RFP) to developers later this month. The mall redevelopment will include the Gwinnett Place Transit Center, which the county’s board of commissioners approved in March and is funded largely by the Federal Transit Administration. The project will expand transit connection throughout the county and is projected to be completed in 2032.

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AcquisitionsRestaurantRetailTexas

SRS Arranges $5.6M Sale of Restaurant Building Leased to First Watch in Addison, Texas

by Taylor Williams

ADDISON, TEXAS — SRS Real Estate Partners has arranged the $5.6 million sale of a 5,672-square-foot restaurant building in the northern Dallas metro of Addison. The tenant, Florida-based breakfast eatery First Watch, recently committed to a 12-year term at the property via a corporate-guaranteed lease. Matthew Mousavi and Patrick Luther of SRS represented the seller, Dallas-based real estate private equity firm 90Ten, in the transaction. The buyer, a New Mexico-based private investor, acquired the asset via a 1031 exchange. The sales price equates to a cap rate of 5.5 percent.

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