Friday, February 6, 2026
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AcquisitionsDevelopmentIllinoisIndustrialMidwest

Logistics Property Co. Buys Development Site Next to Chicago O’Hare Airport, Plans to Build 123,000 SF Warehouse

by Kristin Harlow

ELK GROVE VILLAGE, ILL. — Logistics Property Co. LLC has acquired a nearly 6-acre site at 2700 York Road in Elk Grove Village located just west of the Chicago O’Hare International Airport. Construction on the site is expected to commence in May. When complete, the development will feature a 123,000-square-foot rear-load warehouse with 16 dock doors, two drive-in doors and 125 auto parking spaces. Aaron Martell and Ben Fish of Logistics Property Co. worked with Ed Lowenbaum of Cresa on the purchase. Jacob & Hefner Associates is the civil engineer. The project is slated for completion in the second quarter of 2026.

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Leasing ActivityMidwestOhioRetail

New Tenants Open at Great Northern Mall in North Olmsted, Ohio

by Kristin Harlow

NORTH OLMSTED, OHIO — New tenants have opened at Great Northern Mall in North Olmsted, a western suburb of Cleveland. Prime Time Sports & Framing is a custom framing shop specializing in sports and entertainment memorabilia. The 7,916-square-foot space, located in the Dillard’s wing, features autographed memorabilia from Cleveland Browns and The Ohio State University players. Tracy’s Trinkets & Treasures, located near Phoenix Theatres, features more than 30 local and small handcrafted businesses. The 7,828-square-foot store offers a variety of goods, including organic bath products, candles, jewelry, wreaths, t-shirts and baked goods. Coming soon to Great Northern Mall are Build the Pho, One Pot and Texas Roadhouse. Projected to open this spring, Vietnamese restaurant Build the Pho will occupy 3,800 square feet with a patio. Slated to open in the fall, One Pot will serve Korean barbecue in its 5,600-square-foot space with a patio. Texas Roadhouse will occupy 7,900 square feet near JC Penney and is scheduled to open this fall. Operated by Pacific Retail Capital Partners, Great Northern Mall spans 1.2 million square feet with a mix of 100 national and local brands.

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32-34-Walker-St.-Manhattan
DevelopmentMultifamilyNew YorkNortheast

Kriss Capital Provides $32M in Financing for Manhattan Adaptive Reuse Project

by Taylor Williams

NEW YORK CITY — Local lender and private equity firm Kriss Capital has provided $32 million in financing for an adaptive reuse project in Manhattan’s Tribeca area. The borrower, a partnership between local firms Urban Capital Group and Prosper Property Group, will use the proceeds to acquire and convert a former textile warehouse into a five-unit residential building with ground-floor retail space. The design team includes SOMA and Turett Collaborative. Residences will come in three- and four-bedroom floor plans and have an average size of 3,500 square feet. Andy Iadeluca of New Development Capital arranged the debt. GRA Equities and PZ Realty Investments are also partners on the project, construction of which is underway and slated for a mid-2026 completion.

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AcquisitionsNew YorkNortheastRetail

Marcus & Millichap Brokers $5.2M Sale of Queens Retail Building

by Taylor Williams

NEW YORK CITY — Marcus & Millichap has brokered the $5.2 million sale of a 9,640-square-foot retail building in the Rego Park area of Queens. C-Town Supermarkets anchors the building, which features 100 feet of frontage along 63rd Drive and is also home to three other service-oriented retailers. Joseph French Jr. and Kodi Traver of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were private investors that requested anonymity.  

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Leasing ActivityMassachusettsNortheastRestaurantRetail

Shaq’s Big Chicken to Open Restaurant in Wrentham, Massachusetts

by Taylor Williams

WRENTHAM, MASS. — Shaq’s Big Chicken, a food-and-beverage concept by NBA legend and TV personality Shaquille O’Neal, will open a new restaurant in the southern Massachusetts city of Wrentham. The square footage was not disclosed. The restaurant will be located within Wrentham Premium Outlet Malls, which is owned by Simon Property Group, and is scheduled to open in the coming months. Other tenants that will also soon debut new stores at the property include apparel retailers Vuori, La Vie en Rose and Rag & Bone.

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CivicLeasing ActivityNew YorkNortheast

LEEP Dual Language Academy Charter School Signs 13,241 SF Lease Expansion in Brooklyn

by Taylor Williams

NEW YORK CITY — LEEP Dual Language Academy Charter School has signed a 13,241-square-foot lease expansion in Brooklyn. The school’s footprint now spans 37,924 square feet across four floors within the building at 5323 Fifth Ave. in the Sunset Park neighborhood, where it first opened in 2019. Martin Cottingham, Michael Gottlieb and Patrick Steffens of Avison Young represented the school in the lease negotiations. Comjem Associates owns the building.

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The Ritz-Carlton New Orleans
AcquisitionsHospitalityLouisianaSoutheastTop Stories

Gencom Buys Ritz-Carlton, Courtyard by Marriott Hotels in New Orleans’ French Quarter

by Channing Hamilton

NEW ORLEANS — Gencom, a Miami-based investment firm, has acquired a portfolio of two connected hotels located in the historic French Quarter of New Orleans. The 758-room hospitality portfolio includes The Ritz-Carlton, New Orleans and the Courtyard by Marriott New Orleans French Quarter/Iberville. Situated along the city’s historic Canal Street, The Ritz-Carlton New Orleans comprises 528 hotel rooms and suites. The hotel features about 48,000 square feet of event space, a fitness center, indoor pool and a 25,000-square-foot spa. The Ritz-Carlton also offers Davenport Lounge, a jazz bar and lounge, and the M Bistro eatery. The property opened in 2000. The adjacent Courtyard by Marriott French Quarter/Iberville offers 230 rooms, as well as a coffee shop. The building was originally constructed in 1878 as a department store and was converted into a hotel in 2012. The property is located within walking distance of Bourbon Street, the Caesars Superdome and the New Orleans Ernest N. Morial Convention Center. Both hotels have recently undergone multi-year renovation programs. The Ritz-Carlton was refurbished with updates to guest rooms and public areas, including a $15 million upgrade to its Maison Orleans Club Level. Additionally, all guest accommodations and public spaces at The Courtyard by Marriott …

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Griffin 288/West Airport-Houston
DevelopmentIndustrialTexas

Griffin Partners, Peakline to Develop 224,700 SF Industrial Project in South Houston

by Taylor Williams

HOUSTON — A joint venture between funds backed by Houston-based developer Griffin Partners and Chicago-based investment firm Peakline Partners will develop a 224,700-square-foot industrial project in South Houston. Known as Griffin 288/West Airport, the development will be situated on a 17.8-acre site and will offer parking for 113 cars and 61 trailers (expandable to 81). Construction is slated for a second-quarter 2026 completion. Faron Wiley of CBRE represented the joint venture, which was structured by CBRE’s Nathan Wynne, in its acquisition of the land. Wiley is also the project’s leasing agent along with CBRE colleague Billy Gold.

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AcquisitionsHospitalityOklahomaTexas

HotelBrokerOne Arranges Sale of 218-Room Hotel in Oklahoma City

by Taylor Williams

OKLAHOMA CITY — Locally based brokerage firm HotelBrokerOne has arranged the sale of the 218-room Best Western Plus Saddleback Inn in Oklahoma City. The hotel offers an onsite bar and restaurant in addition to complimentary breakfast, and guests also have access to a pool, indoor spa and sauna and meeting/event spaces. Ted Holmes led the transaction for HotelBrokerOne. The buyer and seller were not disclosed. The new ownership plans to renovate and rebrand the property under the Eagle Suites banner.

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DevelopmentFloridaHospitalityMixed-UseSoutheast

Gateway Jax to Redevelop Historic Ambassador Hotel in Jacksonville as Part of $2B Pearl Square Project

by John Nelson

JACKSONVILLE, FLA. — Locally based development firm Gateway Jax plans to redevelop the historic Ambassador Hotel located at 420 N. Julia St. in downtown Jacksonville. The developer, along with hotelier The Indigo Road Hospitality Group, will restore the 1924-era property into a hotel with at least 100 guestrooms, a high-end restaurant and bar, conference space and other amenities for business and leisure travelers. In addition to the hotel, Gateway Jax purchased an adjacent land parcel where the company plans to deliver a 487-space parking garage, as well as the historic 404 N. Julia St. building that will be redeveloped in the future. The new hotel will be part of Gateway Jax’s eight-block, $2 billion Pearl Square mixed-use development. Gateway Jax, which is sponsored by DLP Capital and JWB Real Estate Capital, manages a private equity fund focused on downtown Jacksonville developments.

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