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The-Parson-Denver-CO
ColoradoDevelopmentMultifamilyWestern

Greystar Launches Leasing at 309-Unit High-Rise Apartment Property in Denver

by Amy Works

DENVER, COLO. — Preleasing has begun at The Parson, a 309-unit high-rise Greystar is developing in Denver’s Golden Triangle neighborhood. The project is slated for completion next year. According to Zillow, monthly asking rents range from $2,055 for a studio to $13,690 for a three-bedroom penthouse. The Parson features 4,100 square feet of retail space. Amenities include a fifth-floor pool with views of the Rocky Mountains, a two-story gym with a sauna and a yoga lawn, concierge services, shared workspaces and an indoor and outdoor dog park. Ziegler Cooper was the architect.

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AcquisitionsMultifamilyNew YorkNortheast

Adirondack Capital Partners Negotiates Sale of 189-Unit Apartment Complex in Queensbury, New York

by Taylor Williams

QUEENSBURY, N.Y. — Regional brokerage firm Adirondack Capital Partners has negotiated the sale of Whispering Pines Apartments, a 189-unit multifamily complex in Queensbury, located north of Albany.  Built in 1980, the garden-style property offers one- and two-bedroom units and amenities such as a pool, tennis courts, fitness center and onsite laundry facilities. Adirondack represented the buyer, Dawn Homes Management, in the transaction. Parker Stevens of Eastdil Secured represented the seller.

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AcquisitionsNortheastPennsylvaniaRetail

CBRE Brokers Sale of 100,250 SF Shopping Center in Easton, Pennsylvania

by Taylor Williams

EASTON, PA. — CBRE has brokered the sale of Forks Town Center, a 100,250-square-foot shopping center in the Lehigh Valley city of Easton. Grocer GIANT anchors the center, which was fully leased at the time of sale. Other tenants include Dunkin’, PNC Bank, Fine Wine & Good Spirits and Verizon. Chris Munley, Colin Behr, Ryan Sciullo and Casey Benson Smith of CBRE represented the seller, JC Bar Properties Inc., in the deal. The sales price was not disclosed.

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2131-Faraday-Ave-Carlsbad-CA
AcquisitionsCaliforniaLife SciencesNet LeaseWestern

Cushman & Wakefield Arranges $19.3M Sale of Life Sciences Property in Carlsbad, California

by Amy Works

CARLSBAD, CALIF. — Cushman & Wakefield has brokered the sale of a single-story life sciences corporate headquarters facility at 2131 Faraday Ave. in Carlsbad. The Wonderful Co. acquired the asset from RPG for $19.3 million. Boston Scientific (NYSE: BSX) fully occupies the 47,075-square-foot property on a triple-net lease basis. The newly renovated, freestanding Class A building features a state-of-the-art central laboratory, high-end corporate offices, onsite amenities, an extensive glass line and robust mechanical systems suited for biotech, medical devices and corporate users. Aric Starck and Drew Dobbs of Cushman & Wakefield represented the seller in the deal.

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AcquisitionsCaliforniaIndustrialSelf-StorageWestern

Wentworth Storage Buys 667-Unit Self-Storage Facility in Fairfield, California

by Amy Works

FAIRFIELD, CALIF. — Wentworth Storage Co. has purchased STORE on Pittman Self Storage, a Class A self-storage facility in Fairfield, from Denova Northwest for an undisclosed price. Wentworth Storage Co. has engaged STORE Management to operate the asset, marking the first property in the Wentworth portfolio to be managed by STORE. Greg Wells and Kevin Cuff of Cushman & Wakefield represented the seller in the transaction. Located at 555 Pittman Road, the 67,883-square-foot property offers 667 self-storage units. The facility features 34 rentable outdoor parking spaces, 554 climate-controlled units and 79 drive-up units. At the time of sale, the property was 85 percent physically occupied. The asset offers a drive-up ramp design offering tenants 100 percent ground-level access to units. Additionally, the property is approved for a 13,900-square-foot single-storage expansion.

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DevelopmentMultifamilyNew YorkNortheast

Partnership Completes Lease-Up of 49-Unit Apartment Building in Brooklyn

by Taylor Williams

NEW YORK CITY — A partnership between William Macklowe Co. and GreenBarn Investment Group has completed the lease-up of a 49-unit apartment building in the Park Slope area of Brooklyn. Designed by SLCE Architects with interiors by Durukan Design, the four-story building is part of the Paseo on Fifth development, which comprises 131 units across two buildings. Residences at Paseo on Fifth come in studio, one- and two-bedroom floor plans. Rents start at roughly $3,200 per month for a studio apartment.

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CivicDevelopmentIndustrialMidwestMissouri

Kansas City Aviation Department Selects Developer for Remaining 20 Acres at Downtown Airport

by Kristin Harlow

KANSAS CITY, MO. — The Kansas City Aviation Department has selected Airside Innovation Missouri LLC, a joint venture between Kansas City natives Kyle Eiserer of Airside FBO and Erik Murray of Eastside Innovation, to develop the last 20 acres of available land at the Kansas City Downtown Airport – Wheeler Field. The $55 million development will include a new fixed base operation (FBO) led by Kansas City-based Apex Aero Center with a 15,000-square-foot terminal building and more than 150,000 square feet of new hangar, office and shop space designed to serve business, government and general aviation users. FBOs are often the first point of contact for visitors arriving by air. Known as Project Lima, the development was selected through a request for proposals process and received unanimous approval from the Kansas City Council in September. The developers executed a long-term lease on the property last month. The project will also include the expansion of Red Tail Academy, a Kansas City-based nonprofit focused on educating and mentoring underrepresented youth in aviation. The broader project team includes Crossroads Real Estate Group, WSKF Architects, TREKK Design Group, Bob D Campbell & Co., FSC Inc., LM2 Construction, McCownGordon Construction and AvAirPros. Completion is slated …

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AcquisitionsIllinoisMidwestMultifamily

Marquette Cos. Buys 198-Unit Orion Arlington Lakes Multifamily Property in Metro Chicago

by Kristin Harlow

ARLINGTON HEIGHTS, ILL. — Marquette Cos. has purchased Orion Arlington Lakes, a 198-unit, garden-style multifamily property in the Chicago suburb of Arlington Heights. Immediate plans for the community include a rebranding to Avery at Arlington Lakes and the launch of value-add renovations for the amenities and units. Marquette Management will take over property management. Built in 1985, the property features eight buildings with one- and two-bedroom floor plans averaging 1,168 square feet. Marquette plans to build a new fitness center and implement upgrades to apartment interiors and amenities, which include a picnic area, dog park, landscaped grounds, garage parking and laundry facilities. LEM Capital was a capital partner in the acquisition.  

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AcquisitionsMidwestNebraskaRetail

Mid-America Arranges Sale of 214,029 SF Shopping Center in Lincoln, Nebraska

by Kristin Harlow

LINCOLN, NEB. — Mid-America Real Estate Corp. has arranged the sale of East Park Plaza, a 214,029-square-foot shopping center in Lincoln. Anchored by Russ’s Market, the property is also home to Marcus Theatres and Famous Footwear. Rick Drogosz and Patrick Corrigan of Mid-America represented the seller, Starwood Property Trust. Broad Reach Retail Partners was the buyer.

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Leasing ActivityNew YorkNortheastOffice

Sigma Computing Signs 28,286 SF Office Lease Expansion in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — Sigma Computing Inc. has signed an 11-year, 28,286-square-foot office lease expansion in Midtown Manhattan. The AI-driven software company now occupies 92,363 square feet, including the entire third floor, at One Madison Avenue. Brent Ozarowski, Jeffrey Rodgers and Stephen Cisarik of Newmark represented the tenant in the lease negotiations. Paul Glickman, Alexander Chudnoff, Ben Bass and Diana Biasotti of JLL represented the landlord, SL Green.

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