AUSTIN, TEXAS — A partnership between SGI Ventures and the Austin Affordable Housing Corp. has completed Cady Lofts, a 100-unit supportive housing project in Austin’s Hancock neighborhood. Cady Lofts offers fully furnished studio apartments for renters earning between 40 to 60 percent of the area median income and/or are overcoming homelessness, dealing with physical and developmental disabilities or recovering from addiction. Units feature modern appliances and eco-friendly utility systems, and residents have access to a communal computer lab, health and wellness center, case management offices and central laundry facilities. Three Bar Architecture designed the project, and Skybeck Construction served as the primary contractor. Cady Lofts was financed in part by $18.5 million in Low-Income Housing Tax Credits ($16.5 million in federal and $2 million in state) that were issued by the Texas Department of Community Affairs and syndicated by Hunt Capital Partners.
ST. LOUIS — MAP Property Holdings has unveiled plans for the renovation of key common areas as part of a reintroduction to the market of One US Bank Plaza, a 36-story, 658,000-square-foot office building in downtown St. Louis. Renovations will begin this spring, with Greiner Construction as general contractor and Trivers as architect. Plans call for updated finishes throughout the common areas on the first and second floor, an in-building lunchtime food operator, two outdoor patio options, varied third workspace options, an enhanced security focus and a refresh of outdoor plaza areas. MAP’s $8.7 million investment stimulated more than 210,000 square feet of lease renewals. Additionally, US Bank recently relocated 300 employees from another location to the downtown office tower. Minneapolis-based MAP acquired the building in 2021. Cushman & Wakefield provides leasing and property management services at US Bank Tower, with Danielle Grubbs and Jim Mosby leading leasing efforts.
DALLAS — Locally based developer StreetLights Residential has begun leasing The Galatyn, a 56-unit apartment building in the Upper McKinney District of Dallas. The 20-story building houses two- and three-bedroom units with an average size of 2,700 square feet. Amenities include a pool, fitness center, concierge services, a coffee bar, catering kitchen, dog wash and a landscaped courtyard. StreetLights Creative Studio served as the architect for the project, and SLR Construction LLC was the general contractor. Both entities are affiliates of the developer. Construction began in fall 2023. Information on starting rents was not disclosed.
OCONOMOWOC, WIS. — Restaurants Chipotle and First Watch have signed leases to open at the Olympia Fields mixed-use development in Oconomowoc, about 35 miles west of Milwaukee. Chipotle’s space totals 2,350 square feet, while First Watch will occupy 3,850 square feet. Mike Fitzgerald and Andrew Prater of Mid-America Real Estate represented the landlord, Corta Oconomowoc LLC. Adam Dreier of Mid-America Real Estate represented Chipotle.
MONROE, MICH. — Bernard Financial Group (BFG) has arranged a $2.2 million loan for the refinancing of a 13,541-square-foot retail property in Monroe, about 23 miles north of Toledo, Ohio. Joshua Bernard of BFG arranged the loan through a life insurance company. An entity doing business as BSLM Frenchtown LLC was the borrower.
CHICAGO — Kiser Group has brokered the $1.6 million sale of a six-unit multifamily building in Chicago’s Lincoln Square neighborhood. The value-add property, constructed in 1928, has been owned by the same family for over four decades. Each unit offers approximately 1,400 square feet of living space with three bedrooms. The property also includes five garage parking spaces. Katie LeGrand and Jacob Price of Kiser brokered the transaction.
EAST DUNDEE, ILL. — Powerhouse Sales, a distributor of detergents, single-dose pods and other household cleaning products, has leased a 10,000-square-foot industrial unit for its new headquarters at 175 Prairie Lake Road in East Dundee, a northwest suburb of Chicago. The facility is now fully leased. Powerhouse’s space features one dock, one drive-in door and a high-end office build-out. Elisabeth Lazzara, Mike DeSerto and Cory Kay of Entre Commercial Realty brokered the lease.
HOUSTON — Wenaas Workwear USA has signed a 45,000-square-foot industrial lease in southwest Houston. The provider of specialized apparel products and personal protective equipment (PPE) is taking space at 10401 S. Sam Houston Parkway West, which according to LoopNet Inc. was built in 2014 and totals 90,000 square feet. Garret Geaccone and Boone Smith of Stream Realty Partners represented the landlord, STAG Industrial, in the lease negotiations. Cole Bercher of Welcome Group represented the tenant.
Cushman & Wakefield Brokers Sale of Two Industrial Properties Totaling 1.1 MSF in Central New Jersey
MONROE TOWNSHIP, N.J. — Cushman & Wakefield has brokered the sale of two industrial properties totaling approximately 1.1 million square feet in Monroe Township, located just outside of Trenton in Central New Jersey. The property at 201 Middlesex Center Blvd. is a 600,000-square-foot cross-dock facility that was built in 2008 and features a clear height of 36 feet, 66 dock doors and 176 trailer parking spaces. The property at 773 Cranbury South River Road is a 488,884-square-foot building that sits on a 34.7-acre site and was completed in 2017 via a 50-year ground lease. Gary Gabriel, Kyle Schmidt, Ryan Larkin and Seth Zuidema of Cushman & Wakefield represented the seller and procured the buyer, both of which requested anonymity, in the transaction. The Cushman & Wakefield team of Stan Danzig, Jules Nissim, Steve Elman, Kimberly Bach and Eric Schlett also advised the seller in the deal.
WALTHAM, MASS. — Locally based owner-operator Hobbs Brook Real Estate is underway on the renovation of a 384,841-square-foot office and life sciences facility located at 404 Wyman St. in the western Boston suburb of Waltham. The building is part of an 11-building campus that is home to tenants such as Dassault Systems, FM Global, Commonwealth Financial Network and ZoomInfo. Renovations will include the addition of a new fitness center, a remodeling of lobby and upgrading of the conference center and café. In addition, Hobbs Brook will develop expansive outdoor spaces with seating areas, fire pits and new landscaping. Completion is slated for early next year.