OVERLAND PARK, KAN. — Price Brothers has broken ground on a 99-room Holiday Inn Express hotel at the Bluhawk mixed-use development in Overland Park, a suburb of Kansas City. The project marks the first of three planned hotels within The Boundary, a retail and lifestyle center. The hotel is scheduled for completion in spring 2026 in time to welcome guests for the FIFA World Cup. Additionally, Barnes & Noble and J. Crew Factory are scheduled to open at The Boundary this summer.
COLUMBUS, OHIO — First National Realty Partners (FNRP) has added three new tenants — Fun City Trampoline Park, Pet Supplies Plus and Port of Peri Peri — at Carriage Place shopping center in Columbus. The additions bring the shopping center to 99 percent occupancy. Fun City is open and occupies 35,540 square feet in the space formerly home to Cinemark theater, which closed in 2023. Pet Supplies Plus, set to open in early 2026, will occupy 7,913 square feet. Port of Peri Peri, expected to open in late 2025, will introduce Portuguese African cuisine at its 2,400-square-foot space.
BROADVIEW, ILL. — Brennan Investment Group has purchased a 38,135-square-foot industrial property in Broadview, about 12 miles west of downtown Chicago. The single-tenant building is located just off I-290 at the four-way 25th Avenue interchange. The property is fully leased to MYR Group, an electrical construction business. Bill Lussow of Bespoke Commercial Real Estate represented the undisclosed seller.
BROOKFIELD, WIS. — CBRE has brokered the sale of the 23,805-square-foot Calhoun Health Center in the Milwaukee suburb of Brookfield for an undisclosed price. The Class A medical office building is located at 1905 N. Calhoun Road and is fully leased and anchored by Froedtert ThedaCare Health in partnership with the Medical College of Wisconsin. The facility was completed in 2016. Chris Bodnar, Brannan Knott, Mindy Berman, Zack Holderman, Cole Reethof, Trent Jemmett, Jesse Greshin and Devin Tessmer of CBRE represented the seller. The buyer was Chicago-based Remedy Medical Properties in a joint venture with Kayne Anderson Real Estate.
NEW YORK CITY — New York City-based ERG Commercial Real Estate has arranged a $7 million construction loan for a 28-unit multifamily project that will be located in the Jamaica area of Queens. The building will be located at 166-13 91st St. and will rise 16 stories. Information on specific floor plans and amenities, as well as the direct lender and borrower, was not disclosed.
NEW YORK CITY — Coalition Space has opened a 15,736-square-foot flexible workspace at 485 Madison Avenue in Midtown Manhattan. The lease term is 10 years, and the space is known as Coalition Space Grand Central. Bert Rosenblatt and Alex Gerome of Cresa represented Coalition Space in the lease negotiations. Adam Rappaport and Brett Greenberg internally represented the landlord, Jack Resnick & Sons.
NEW YORK CITY — Posh Group Inc. has signed a 11,436-square-foot office lease expansion in Manhattan’s SoHo district. The event manager and brand promoter has effectively doubled its footprint to 22,637 square feet across two full floors at 40 Crosby, a five-story building. KPG Funds owns 40 Crosby, which offers 34,229 square feet of office space and 18,000 square feet of retail space on the ground floor.
MIAMI BEACH, FLA. — Terra and Turnberry have received $392 million in financing for the construction of Grand Hyatt Miami Beach, an 800-room hotel situated adjacent to the Miami Beach Convention Center. TYKO Capital, a New York City-based private equity and private credit investment management platform, provided the financing to the South Florida-based developers. Grand Hyatt Miami Beach will rise 17 stories at 17th Street and Convention Center Drive. The property will offer 12 floors of guest rooms, including 52 suites with views of Miami Beach. Additionally, four floors will feature meeting and ballroom spaces. Guests will have access to a pool deck with panoramic city views, a restaurant, lobby lounge and bar, as well as street-level retail space. The hotel will feature direct access to the Miami Beach Convention Center via a climate-controlled sky bridge. Plans for the development also call for new public spaces, pedestrian-friendly promenades, bike-sharing stations and connectivity to public transit. According to sources familiar with the transaction, Eastdil Secured was involved in arranging the debt on behalf of Terra and Turnberry. Arquitectonica designed the hotel, and Balfour Beatty is serving as the general contractor. The Miami Beach Redevelopment Agency awarded a $75 million grant for the project in 2024. Grand …
DALLAS AND HOUSTON — Blackstone Real Estate (NYSE: BX), the largest owner of commercial real estate globally, has agreed for its Core+ funds business affiliate to acquire a 95 percent stake in an industrial portfolio in Texas totaling 6 million square feet. The purchase price is $718 million. Crow Holdings, the Dallas-based real estate and development firm that developed the properties, is the seller and will retain a 5 percent ownership stake. The transaction is expected to close in the second quarter of 2025. The portfolio comprises 25 Class A buildings located predominantly in submarkets of Dallas and Houston. According to Blackstone, the metros are two of the top-performing logistics markets in the country. “We are thrilled to acquire this high-quality portfolio located in some of the best performing U.S. industrial markets,” says David Levine, co-head of Americas acquisitions for Blackstone. “With limited vacancy and new construction starts down over 80 percent from the 2022 peak, logistics remains a high conviction theme for us; we are proud owners of more than $90 billion of warehouses in North America and nearly $170 billion in total around the world.” Founded in 1991, Blackstone currently has $315 billion of investor capital under management …
FREDERICKSBURG, TEXAS — A partnership between Hilton (NYSE: H) and Wine Country Hospitality Partners LLC will develop a hotel and residential property in the Central Texas city of Fredericksburg that will be operated under the Waldorf Astoria brand. The Waldorf Astoria Texas Hill Country and Waldorf Astoria Residences Texas Hill Country will consist of 60 dedicated hotel guest rooms and suites, 37 resort villas and 50 private residences. The resort will also offer five food-and-beverage concepts, an 11,000-square-foot spa and fitness center and two resort-style pools. The opening is scheduled for 2027. Wine Country Hospitality Partners is a partnership between Mark Harmon, founder of Auberge Resorts Collection; Robert Radovan, founder of luxury hospitality developer Criswell Radovan; and Tim Sparapani, co-founder of Blue Run Spirits and an experienced investor in hospitality startups.