LAREDO, TEXAS — Lee & Associates has negotiated a 103,780-square-foot industrial lease within Pinnacle Industry Center in the Rio Grande Valley city of Laredo. The tenant, freight and logistics provider Buckland Global Trade Services, will occupy the entirety of the building at 21208 Kraus Loop, which sits on a 7.4-acre site and features 32-foot clear heights. Enrique Volkmer of Lee & Associates represented the tenant in the lease negotiations. Huffman Development & Construction Services owns the building.
ARLINGTON, TEXAS — Precision Pulley & Idler has signed a 38,734-square-foot industrial lease in Arlington. The manufacturer of conveyor systems and components is taking space at the building at 2025 Meridian St., which according to LoopNet Inc. was constructed in 1980 and totals 71,973 square feet. Harrison Putt and Nick Fulton of Mercer Co. represented the tenant in the lease negotiations. Mark Graybill and Reed Parker of Lee & Associates represented the landlord, Chicago-based ML Realty Partners.
AUSTIN, TEXAS — Industrious will open an 18,653-square-foot coworking space at Victory Plaza, a three-story building in North Austin. The space will be the sixth in Austin for the New York City-based company, which was recently acquired by Dallas-based CBRE Group Inc., and the opening is slated for this summer. Brent Powdrill, Bethany Perez and Colton McCasland of JLL represented the undisclosed landlord in the lease negotiations. Kristi Svec Simmons and Jon Wheless of CBRE represented Industrious.
PALMDALE, CALIF. — Northmarq has brokered the sale of Chaparral Apartments, a 296-unit multifamily property in Palmdale. A Florida-based real estate investment firm sold the asset to a Los Angeles-based real estate investment firm for $71 million. Situated on 18.2 acres, Chaparral Apartments consists of 16 two-story garden-style buildings, totaling 213,664 square feet. The unit mix includes 72 studios, 164 one-bedroom units and 60 two-bedroom units. Apartments feature fireplaces, private balconies or patios, walk-in closets and energy-efficient appliances. Community amenities include two swimming pools, three tennis courts, a fitness center, business center, two laundry facilities, a movie theater and a residential lounge, as well as 488 parking spaces, including 283 covered spaces. Steven Goldstein, Jeff Benson and Sam Neumark of Northmarq’s Los Angeles Multifamily Investment Sales represented the seller in the deal.
PALM DESERT, CALIF. — Omaha, Neb.-based Metonic Real Estate Solutions, as owner, and Irvine, Calif.-based Western National Property Management (WNPM), as property manager, have opened Millennium Apartments at 74699 Technology Drive in Palm Desert. Situated in Coachella Valley, Millennium Apartments offers 330 studio, one-, two- and three-bedroom apartments with contemporary finishes, smart-phone technology, private patios, stainless steel appliances, quartz countertops, plush carpeting in bedrooms, open-concept floor plans and direct-access garages. Common area amenities include a clubhouse, saltwater swimming pool, fitness center with private yoga studio and outdoor exercise lawn, an activity park, a pet park, three conference rooms, a business center, coworking spaces, package lockers and electric vehicle charging stations.
PARK CITY, UTAH — New York-based Extell Development and Hilton have announced plans to develop a new Canopy by Hilton hotel at Deer Valley East Village, North America’s first luxury alpine village to be developed since 1981. Slated to open in summer 2026, the 180-key hotel will mark Canopy by Hilton’s first hotel in Utah. Overlooking the Jordanelle Reservoir and Deer Valley Resort, Canopy by Hilton at Deer Valley will offer ski access, an apres-ski experience and access to a variety of restaurants. The hotel design features architecture by The Richardson Design Partnership and interior design by DLR/Brayton Hughes. The hotel will offer a curated suite of onsite amenities including a pool and hot tub, steam room and sauna, fitness room and golf simulator. Additionally, the hotel will offer a dedicated ski reception lobby and ski locker room, meeting and conference facilities and two levels of underground parking accommodating 176 stalls. Canopy at Deer Valley will feature more than 9,600 square feet of food-and-beverage facilities, including a signature restaurant, an apres-ski lounge, a grab-and-go coffee shop and a rooftop lounge with mountain views.
BUENA PARK, CALIF. — Shopoff Realty Investments, in partnership with a national home builder, has acquired a 13.7-acre property in Buena Park, with plans to re-entitle the parcel for residential use. The property currently features two industrial buildings totaling 370,031 square feet that are occupied by Amway Corp. with a corporate sale-leaseback in place. A total of $49 million in acquisition financing for the project was secured with assistance from Jamie Kline and Kyle White of JLL Capital Markets.
CASTLE ROCK, COLO. — White Line Investments has purchased a 2,818-square-foot retail property at 21 N. Wilcox St. in Castle Rock. GPC LLC sold the asset for $1.3 million, or $479.06 per square foot. Built in 2021, the property is currently occupied by Granelli’s Pizzeria and Oasis Pet Salon. Charlie Cummings of Innovate Commercial Real Estate represented the buyer, which is a newly formed entity comprised of the property’s current tenants. John Propp of John Propp Commercial Group represented the seller in the deal.
JERSEY CITY, N.J. — A partnership between regional development and investment firms Kushner Cos. and The KABR Group has completed a $30 million mixed-use redevelopment project in Jersey City. The project converted the former Great Atlantic & Pacific Tea Co. warehouse, a six-story building that was originally constructed in 1913, into a commercial structure with 135,000 square feet of office and retail space known as The Arts & Powerhouse Building. Commercial spaces range in size from 4,000 to 100,000 square feet, and the building features a 10,000-square-foot rooftop amenity deck. Retailers that have already signed leases or opened stores at the building include Rumble Boxing, Daily Provisions, Spear Physical Therapy and One Medical. CBRE is the building’s leasing agent.
CLEVELAND — Frontline Development Group LLC and Woda Cooper Cos. Inc. have broken ground on Gordon Crossing, a 54-unit affordable housing development that will provide housing options for residents earning up to 80 percent of the area median income in Cleveland. The $17.6 million project is backed by a combination of public and private funding. Located at the convergence of Hough and University Circle, Gordon Crossing sits at the heart of two neighborhoods. Hough is known for its revitalization, home to generations of families and a growing wave of investment. University Circle is a hub of institutions such as hospitals, universities and cultural anchors. The four-story development will feature 42 two-bedroom units and 12 three-bedroom apartments. Residents will have access to a community room with kitchenette, onsite management office, parcel room and outdoor spaces. Projected rents range from $362 to $1,699, depending on household income and unit size. The development is expected to house a diverse mix of residents, including caregivers, educators, hospitality and retail workers, civil servants and others. Gordon Crossing is supported by an equity investment from RBC Capital, utilizing housing tax credits allocated by the Ohio Housing Finance Agency (OHFA). Lenders include Dollar Bank, CF Bank, the …