Property Type

NEW YORK CITY — Rockefeller Group has signed Blank Rome to a 138,000-square-foot office lease at 1271 Avenue of the Americas. Blank Rome will occupy floors 15 through 17, as well as part of the 14th floor. The law firm plans to relocate from the Chrysler Building in 2019. Ken Rapp, David Kleinhandler, Tim Dempsey and Zachary Weil of CBRE represented Blank Rome in the transaction. Built in 1959, the 48-story skyscraper was originally designed by Harrison & Abramovitz & Harris, the architects for all of Rockefeller Center. 1271 Avenue of the Americas is currently undergoing extensive renovations designed by the architectural firm Pei Cobb Freed & Partners. The project began in 2016 and is slated to be complete by the end of 2019. Major League Baseball and Mizuho Americas have also recently signed leases at the building.

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Amazon-Arlington-Texas

ARLINGTON, TEXAS — The City of Arlington has announced that is it “no longer moving forward” with its bid to land Amazon’s new headquarters, a project that is expected to generate $5 billion in local investment and create 50,000 high-paying jobs. The city, which was one of several municipalities in the DFW metro to submit proposals, had offered the Seattle-based e-commerce giant roughly $921 million in incentives, including a 100 percent real and business personal property tax abatement for 10 years. City officials pitched Globe Life Park, the current home of the Texas Rangers, as the site for HQ2, highlighting the property’s size of 200-plus acres, infrastructure that was already in place and proximity to a major international airport. A new ballpark, Globe Life Field, is being developed for the Rangers in Arlington and is scheduled to open for the 2020 season. Arlington Mayor Jeff Williams told CNN that Amazon was “looking for a more advanced urban setting,” which contributed to its decision to pass. Other sites within the metroplex are still in the running for HQ2.

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Kalahari-Resorts-Round-Rock-Texas

ROUND ROCK, TEXAS — Wisconsin-based Kalahari Resorts & Conventions, a developer of luxury resorts with convention centers and indoor water parks, has begun work on its newest property in the northern Austin metro of Round Rock. According to local news station KVUE, the project is valued at roughly $350 million. The property will be situated on 351 acres along U.S. Highway 79. The hotel will total 975 guestrooms, while the convention center and indoor water park will span a minimum of 150,000 and 200,000 square feet, respectively. The opening is slated for late 2020.  

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Residences-at-Park-District-Dallas

DALLAS — High Street Residential, a subsidiary of Trammell Crow Co., has opened Residences at Park District, a 34-story mixed-use property that fronts Klyde Warren Park in Dallas. Residences at Park District features 228 residential units ranging in size from 782 to 3,234 square feet, as well as 13,396 square feet of retail space. Amenities include a pool, 7,000-square-foot fitness center, business center, a dog park, outdoor grilling areas, spa and valet and concierge services. The property connects via a grand plaza to PwC Tower at Park District, a 20-story building with more than 500,000 square feet of office space and 7,000 square feet of ground-floor retail and restaurant space.

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Arium-Uptown-West-Houston

HOUSTON — Carroll Organization, an Atlanta-based multifamily investment and management firm, has acquired The Ava, a 321-unit multifamily community in Houston via its latest investment fund. The four-story, mid-rise property, which has since been rebranded Arium Uptown West, is located near the Galleria/Uptown area on the city’s west side. Amenities include a two-level fitness center, resident clubhouse, resort-style pool with outdoor kitchen, multi-level parking garage and a pet park. The seller and sales were not disclosed.

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HeyDay-Entertainment-Denison-Texas

DENISON, TEXAS — HeyDay Entertainment, a retail concept that offers laser tag, mini-golf, ropes courses and bowling, will open a 42,500-square-foot venue in Denison, about 75 miles north of Dallas. The new venue will anchor Gateway Village, a 94-acre mixed-use development that is part of a 700-acre master-planned community. Ryan Smith of Venture Commercial Real Estate represented the landlord and developer of Gateway Village, Covenant Development, in the lease negotiations. Bryan Cornelius and Tim Henson, also with Venture Commercial, represented HeyDay. This venue, which is scheduled to open in the fall, will be the Oklahoma-based company’s first location in Texas and third overall.

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HUNTSVILLE, ALA. — RCP Cos. has signed three restaurant concepts to join the tenant lineup at MidCity, a $350 million mixed-use development under construction in Huntsville. Two celebrity-driven dining concepts — Wahlburgers and Rascal Flatts — will open first-to-market locations at the project. Wahlburgers, owned by reality TV and movie star brothers Mark, Donnie and chef Paul Wahlberg, will open a 4,000-square-foot location at the development. The location will be Wahlburgers’ second in Alabama. Construction on the restaurant is expected to begin this year, with a scheduled opening in 2019. Rascal Flatts — named for and endorsed by the country music band of the same name — will open a 7,500-square-foot restaurant that will feature a Southern-inspired menu, live entertainment, sound stage, a bar and retail space. Currently und er design, Rascal Flatts will be located across the bridge from Topgolf. Upon opening in 2019, the location will mark the restaurant’s first in the Southeast. In addition, Alchemy Lounge, a coffee house that offers an assortment of coffee, craft beer and other beverages and treats, will open at The Camp, MidCity’s music and arts outdoor entertainment venue. Currently under construction, the venue is scheduled to open in June. The new …

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LOUISVILLE, KY. — CBL Properties has signed a lease with Round1 Bowling & Amusement at Jefferson Mall, a 904,967-square-foot regional mall in Louisville. The announcement is part of the first phase of the property’s redevelopment plans. The new-to-market entertainment concept will backfill the space formerly occupied by Macy’s. Construction on the new space is currently underway. Round1 offers bowling, an arcade, karaoke, billiards, food and beverages. As of May 2018, the Japanese-based company had 21 locations in the United States. The new location at Jefferson Mall will be the retailer’s first in Kentucky. Chattanooga, Tenn.-based CBL Properties is also in the planning stages for the redevelopment of the Sears building at Jefferson Mall, which will include a mix of dining, entertainment and retail.

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SUFFOLK, VA. — BECO, a Virginia-based multifamily and commercial property developer, has unveiled plans for Bridgeport, a mixed-use development in Suffolk. The first phase of the waterfront project will include 3800 Acqua, a 288-unit multifamily community; 10,000 square feet of Class A office space; and 60,000 square feet of retail space. The multifamily portion of the project is scheduled to open in spring 2019. Construction on Phase I is expected to begin later this summer, and additional phases are in the planning stages.

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PELL CITY, ALA. — Fairfield Asset Advisors has arranged the $15.8 million sale of a 50,400-square-foot medical office building located at 74 Plaza Drive in Pell City, roughly 24 miles east of Birmingham. Northside Medical — a Birmingham-based specialty practice — anchors the building, which was constructed in 2017. An undisclosed borrower acquired the asset from the developers, a physician group.

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