ROCKAWAY, N.J. — Casio America has signed a 21,338-square-foot office lease in the Northern New Jersey community of Rockaway. The U.S. subsidiary of the Japanese electronics manufacturer is taking space on the third floor of The Mark, a seven-story, 237,087-square-foot building that was recently renovated. Chris Conklin, Dan Spero and Maria Rubert of JLL represented the landlord, Northbridge Capital, in the lease negotiations. Naoki Yamaguchi of Relo Redac Inc. represented the tenant.
OAKLAND TOWNSHIP, MICH. — Evexia Wellness has signed a 10-year, 3,603-square-foot retail lease at 4986 N. Adams Road in Oakland Township. The property is known as Country Creek Commons shopping center. Eric Banks and Jim Mitchell of Dominion Real Estate Advisors LLC represented the undisclosed landlord. Mike Murphy and Owen Kelly of Gerdom Realty & Investment represented the tenant, which is a full-service medical wellness spa owned by Ida Pesce.
WARWICK, R.I. — Urban Air Adventure Park, an entertainment concept centered on trampolines, has opened a new entertainment venue in Warwick, just south of Providence. The space is located within Cowesett Corners Shopping Center, a grocery-anchored power center, and features climbing walls, obstacle courses and bumper cars. The square footage of the space was not disclosed.
By Steven Bauer, Colliers The office towers that define Chicago’s landscape have unique histories and personalities, but not all are created equal in the eyes of the tenant. Buildings seeing the highest demand, classified even higher than Class A, are “trophy buildings” — buildings with high-quality finishes, newer and more efficient construction, and are often amenity rich with exclusive lounges, rooftop decks, fitness centers and private bars. It’s especially important in today’s market to distinguish between the two distinct building categories because while Chicago’s real estate market is a vibrant and complex one, there is more to the story than what you see in the headlines. While the overall vacancy rate in the Loop remains at a historic high above 25 percent, trophy space vacancy is under 10 percent, and demand continues to be robust. The story of flight to quality and flight to trophy assets has been told repeatedly since the COVID pandemic — complete with statistics that back the trend up. In the fourth quarter of 2024 alone, owners of trophy class buildings finalized anchor tenant renewals with Mayer Brown and PwC, both of whom kept roughly the same square footage as they had previously leased. With the …
By Casey Smallwood of SRS Real Estate Partners In today’s fiercely competitive quick-service restaurant (QSR) market, digital transformation and artificial intelligence (AI) are reshaping how brands operate, engage with customers and create value. An industry once defined by speed and consistency is now being reshaped by data, automation and intelligent personalization. Across the country, QSRs are embracing cutting-edge technologies to improve operations, enhance the customer experience and maximize profitability. From mobile ordering apps to AI-powered drive-thru automation and predictive inventory management, these innovations are redefining the QSR business model. To stay competitive and relevant in today’s fast-changing market, franchise operators, developers and commercial real estate investors must understand and adapt to these technology-driven shifts. At the heart of this evolution is digital transformation — the integration of digital technology across all aspects of the business. In the QSR landscape, this includes everything from mobile ordering apps, digital menu boards to contactless payment systems, smart kitchen equipment and sophisticated customer relationship management (CRM) tools. Unlike full-service restaurants that emphasize ambiance and table service, QSRs succeed by offering speed, convenience and consistency. Digital transformation amplifies these core strengths, allowing operators to serve more customers faster and more accurately while also collecting and …
SAN ANTONIO — Locally based developer Koontz Corp. will develop The Elle Apartment Homes, a 305-unit multifamily community in San Antonio. The site spans 9.6 acres on the city’s north side, and the building will rise four stories and house one- and two-bedroom units. Residences will be furnished with kitchen islands, stainless steel appliances, custom cabinetry, quartz countertops, walk-in closets, full-size washers and dryers and private patios. Amenities will include a pool, fitness center, entertainment room, business center, coffee bar, grilling areas and a dog park. Project partners include Garcia + Associates (architect), Pape-Dawson (engineer), Casey Roy Design (interior design) and IBC Bank (construction lender). Construction is scheduled to begin in the third quarter and to be complete in mid-2027.
HOUSTON — Miami-based developer Housing Trust Group has broken ground on The Rushmore, a $33.8 million affordable housing project in the Energy Corridor area of West Houston. The property will house 101 units, 85 of which will be reserved for households earning at or less than 30, 50 and 60 percent of the area median income. The remaining 16 units will be priced at market rates. Residences will come in one-, two- and three-bedroom floor plans, and amenities will include a pool, community clubroom, workroom, fitness center, game room and a designated dog walking path. Completion is slated for spring 2026.
AUSTIN, TEXAS — Priority Capital Advisory (PCA), a Los Angeles-based financial intermediary, has arranged a loan of an undisclosed amount for the refinancing of Chapman 71, an industrial outdoor storage (IOS) facility in South Austin. Built in the 1970s, the property consists of seven buildings on a 13-acre site at 5001 E. Ben White Blvd. Building features include 12 dock-high doors, 23 grade doors, 25 parking spaces and 16- to 25-foot clear heights. An undisclosed bank provided the nonrecourse financing to the owner, Austin-based PlaceMKR, which will use the proceeds to cash out and recapitalize the property. Chapman 71 was fully leased at the time of the loan closing.
FREDERICK, MD. — A joint venture between High Street Residential and SCOA Real Estate Partners (SREP) has broken ground on The Terrace, a 300-unit apartment community located at 10 W. College Terrace in Frederick, about 44 miles northwest of Washington, D.C. The co-developers plan to deliver the midrise project by December 2027. The Terrace will be situated on 8.3 acres and offer views of the nearby Catoctin Mountains via its indoor/outdoor sky lounge. Other amenities will include a resort-style swimming pool, gaming area, EV charging stations and a dog park. The property will feature a mix of one-, two- and three-bedroom apartments ranging in size from 725 to 1,474 square feet. The design-build team includes architect of record Dwell Design Studio and general contractor Morgan-Keller Construction.
AUSTIN, TEXAS — Quantic Wenzel has opened its new 45,000-square-foot headquarters facility in Austin. The electronics manufacturer relocated from a site about a quarter-mile away to 1835A Kramer Lane on the city’s north side. The new facility features a cleanroom, expanded engineering labs and optimized manufacturing areas to enhance production. Bo Beacham, John Barksdale, Mark Emerick and Kyle Lewis of CBRE represented Quantic Wenzel in its site selection and lease negotiations.