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DevelopmentMultifamilyNew YorkNortheastTop Stories

Charney, Tavros to Build 1,000-Unit Apartment Tower in Brooklyn

by Kristin Harlow

NEW YORK CITY — Charney Cos. and Tavros have unveiled plans to build 175 Third Street, a 1 million-square-foot apartment tower in Brooklyn’s Gowanus area. The 27-story building will feature more than 1,000 units, approximately 250 of which will be designated as affordable housing. The development cost, including the land purchase, is estimated at roughly $1 billion, according to the New York Post. The project marks the fifth building on four different sites in the new Gowanus Wharf development by Charney and Tavros. Catalyzed by the major Gowanus rezoning in 2021, the new development will feature a public park along the Gowanus Canal. According to a release, the project will contribute to the rehabilitation of the canal while supporting the continued evolution of the industrial Brooklyn neighborhood. Bjarke Ingels Group (BIG) designed the new tower along with dencityworks | architecture. BIG previously completed a design for the same site in 2023 for a different owner. Charney and Tavros purchased the site in May for $160 million. “Our design for 175 Third Street in Gowanus is conceived as a three-dimensional neighborhood of building blocks stacked to frame a central park cascading down toward the canal waterfront,” says Bjarke Ingels, founder and …

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Mountain-View-Village-Riverton-Utah
Market ReportsNortheastNortheast Market ReportsRetail

Tech-Driven Experiences Reposition Northeast Malls for Next Generation of Shoppers

by Taylor Williams

By Wick Zimmerman, CEO of Outside the Lines Inc. In the Northeast’s evolving commercial real estate landscape, mall owners and operators are navigating now-familiar headwinds: changing consumer behaviors, declining legacy retail brands and the sustained presence of e-commerce. Yet amid these pressures, a reinvention is underway. Malls are shedding their images as static retail venues and transforming into immersive, tech-enabled destinations — and it’s not traditional retail driving the charge. It’s Gen Z, a digitally native, experience-driven cohort that’s redefining what mall real estate can and should be. This shift presents both a challenge and an opportunity for regional retail stakeholders. The challenge? Retrofitting aging assets to meet evolving demands. The opportunity? Creating diversified, high-traffic destinations that outperform their square footages in terms of both revenue and relevance. From Shopping Centers to Engagement Anchors Once emblematic of suburban retail, malls across the Northeast — from Long Island to greater Boston — are increasingly being reimagined as hybridized spaces that combine shopping, entertainment and community programming. In densely populated, high-barrier markets, where new development is constrained, adaptive reuse initiatives are driving the charge. Class B and C malls, in particular, are being repositioned with new anchors — not department stores, but …

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AcquisitionsOfficeTexas

JLL Arranges Sale of 202,601 SF Vacant Office Building in The Woodlands, Texas

by Taylor Williams

THE WOODLANDS, TEXAS — JLL has arranged the sale of a 202,601-square-foot office building located at 10101 Woodloch Forest Drive in The Woodlands, about 30 miles north of Houston. The eight-story building was completed in 2009 and was vacant at the time of sale. Kevin McConn and Jeff Hollinden of JLL represented the seller, Net Lease Office Properties, in the transaction. The buyer was Howard Hughes Holdings Inc. (NYSE: HHH). The sales price was not disclosed.

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CivicDevelopmentOfficeRetailTexas

City of Sugar Land Approves $12.5M for Renovation, Modernization of Downtown Commercial Center

by Taylor Williams

SUGAR LAND, TEXAS — The City of Sugar Land, located southwest of Houston, has approved $12.5 million in funding for the renovation and modernization of the city’s downtown commercial center, known as Sugar Land Town Square. Under the terms of the funding agreement, Building B will receive upgrades to its communal office and amenity spaces, as well as its landscaping and streetscaping. In addition, Building H will see renovations to its entryway, lobby and signage, along with updates to the garden area and new furniture, fixtures and equipment. Sugar Land Town Square, which spans 32.8 acres and opened in 2003, is currently 73 percent leased across its office, retail and restaurant components.

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LoansMultifamilyOklahomaTexas

Red Oak Capital Provides $5.7M Bridge Loan for Downtown Oklahoma City Apartment Complex

by Taylor Williams

OKLAHOMA CITY — Red Oak Capital Holdings has provided a $5.7 million bridge loan for Penn Grand Apartments, a 105-unit multifamily complex in Oklahoma City. Located in the downtown area, the property consists of 14 two-story buildings on a 3.7-acre site. Nick Jans, Thomas Gorski and James Myatt of Red Oak Capital originated the two-year loan, which was placed by Sean Reilly of Regions Bank. The borrower, Gideon Properties, an investment firm that specializes in distressed assets, will use the proceeds to retire existing debt and rehabilitate units that were damaged by fire.

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CivicDevelopmentTexas

Del Valle ISD, Thinkery Open 25,227 SF Immersive Childcare Facility in East Austin

by Taylor Williams

AUSTIN, TEXAS — A partnership between the Del Valle Independent School District (ISD), which serves Travis County, and The Thinkery, a children’s museum in Austin, has opened a 25,227-square-foot immersive childcare facility. Designed by Pfluger Architects and located east of the downtown area, the facility features color-coded, dedicated classrooms for infants, toddlers and preschoolers, as well as a central courtyard, library and an array of museum-style, interactive learning exhibits and activities. American Constructors served as the general contractor for the project.

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AcquisitionsRetailTexas

SRS Real Estate Brokers Sale of 10,238 SF Retail Strip Center in Midlothian, Texas

by Taylor Williams

MIDLOTHIAN, TEXAS — SRS Real Estate Partners has brokered the sale of Shops on Main, a 10,238-square-foot retail strip center located in the southern Dallas suburb of Midlothian. The center was built on 1.7 acres in 2023 and was fully leased at the time of sale to tenants such as Boba Tea and Coco Nail Bar. Michael Kaplan, Matthew Mousavi and Patrick Luther of SRS represented the seller, a Texas-based family office, in the transaction. The buyer was a Dallas-based 1031 exchange investor. Both parties requested anonymity.

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AcquisitionsMultifamilySoutheastVirginia

TruAmerica Multifamily Acquires Chase Heritage Apartments in Sterling, Virginia for $72M

by John Nelson

STERLING, VA. — TruAmerica Multifamily has purchased Chase Heritage Apartments, a 236-unit community located at 1212 Chase Heritage Circle in Sterling, a suburb of Washington, D.C. McDowell Properties sold the garden-style property for $72 million. Robert Dean and Jonathan Greenberg of Institutional Property Advisors’ (IPA) Mid-Atlantic office represented the seller in the transaction. Built in 1986, Chase Heritage has had multiple renovations completed since 2021, mostly on the exterior and amenity areas including the pool area, clubhouse and fitness center. TruAmerica Multifamily plans to renovate the property’s interiors and enhance amenity offerings during its ownership.

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LoansMultifamilySouth CarolinaSoutheast

Mesa West Capital Provides $50.4M Refinancing for Ames Apartments in Metro Charleston

by John Nelson

SUMMERVILLE, S.C. — Mesa West Capital has provided a $50.4 million loan for the refinancing of The Ames, a new Class A apartment community located in Summerville, a suburb of Charleston. Walker Layne and Austin Sneed of Walker & Dunlop arranged the financing on behalf of the borrower, Woodfield Development, which delivered the 304-unit property in 2024. Pamir Niaz led Mesa West Capital’s New York-based origination team in the deal. The Ames is located at 3800 Zephyr Road within the Nexton master-planned community and features a mix of studio, one-, two- and three-bedroom layouts. Amenities include a resort-style pool with poolside cabanas and grilling stations, an outdoor amphitheater, resident lounge, fitness center, pickleball courts and a dog park. 

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AcquisitionsDevelopmentMarylandOfficeSoutheast

JLL Arranges Sale of 222,000 SF Office Building in North Bethesda, Buyer Plans Repositioning

by John Nelson

NORTH BETHESDA, MD. — JLL has arranged the sale of a 222,000-square-foot office building located at 2101 E. Jefferson St. in North Bethesda. Jim Meisel, Dave Baker, Andrew Weir and Kevin Byrd of JLL represented the seller and procured the buyer in the transaction. Both parties requested anonymity, and the sales price was also not disclosed. Meisel says that the buyer plans to reposition the vacant office building for another use, plans of which were not released. Built in 1985, the office property is situated on 4 acres near Pike & Rose, a mixed-use development by Federal Realty Investment Trust that features more than 50 shops and restaurants and more than 750 apartments.

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