CARMEL, IND. — Buckingham Cos. will open Portrait Midtown, a luxury apartment community in Carmel. Move-ins are scheduled to begin later this summer. Residents can choose from one-, two- and three-bedroom apartments as well as two- and three-bedroom townhomes. Situated near the city’s Midtown Arts District, the property features a micro market, two fitness studios, grilling stations, a dog park, resort-style pool and fire pits. Residents can work from home in the lounges, coworking spaces and outdoor plaza areas. Additional amenities include valet trash removal, rentable storage, electric vehicle charging and a 400-stall parking garage. Two public art installations in the community include a large-scale installation by London-based public art studio Acrylicize and a custom mural by Carl Leck of CBL Imagery.
ADDISON, ILL. — Logistics Property Co. LLC (LogiPropCo) has closed on a 9.8-acre site at 2349 W. Lake St. in Addison with plans to build a 140,122-square-foot industrial facility. The site offers immediate access to I-355 and Illinois Route 20 as well as proximity to the O’Hare airport. Construction is expected to commence this month. The project will feature a clear height of 32 feet, 36 dock positions and parking for 179 cars. Morgan Harbour Construction will serve as general contractor, Architects Plus Design Studio is the architect and Jacob & Hefner Associates is the civil engineer. Aaron Martell and Ben Fish of LogiPropCo led the sourcing of the land for the development. Sean Henrick, Jason West and Doug Pilcher of Cushman & Wakefield will serve as the project’s leasing representatives. Completion is slated for the first quarter of 2027.
KANSAS CITY, MO. — Front Line Safety has unveiled plans to establish a new safety and first aid solutions distribution center in Kansas City, investing $1.7 million and creating 21 new jobs. The project is expected to generate $6.1 million in new annual payroll. The 113,000-square-foot facility, secured with CBRE, will support the company’s growth and expand its ability to serve customers throughout the Midwest and across North America. The facility is expected to open in July 2026.
— By Alma Cuevas and Jason Griffis of Cushman & Wakefield — The Las Vegas industrial market continues to evolve, shaped by new development and sustained demand. While vacancy has increased due to recent deliveries, the market tells a more nuanced story, particularly within smaller space requirements. Leasing activity in first-quarter 2026 totaled just under 3 million square feet, with an average deal size of about 21,000 square feet. Notably, about 95 percent of all leases occurred in spaces of less than 50,000 square feet. This concentration of activity underscores the continued depth of demand within the small and mid-bay segment. At the same time, the increase in vacancy is largely attributable to new construction, much of which has been concentrated in bulk distribution product. Continued development and expansion from groups like Prologis, OMP, EBS and Panattoni have added significant Class A institutional inventory to the market. While these projects enhance Las Vegas’ long-term positioning as a regional distribution hub, they have also expanded availability in spaces exceeding 100,000 square feet. This dynamic is effectively dividing the market into two distinct segments. Larger users are benefiting from increased optionality, more aggressive concessions and greater flexibility in lease negotiations. Smaller users, …
ATLANTA — Allen Morris Co., a mixed-use developer based in Coral Gables, Fla., has received a $113.7 million loan from Mexico-based Banco Inbursa for the refinancing of Star Metals Offices, a 267,000-square-foot office tower in Atlanta’s West Midtown neighborhood. The transaction will retire the existing construction loan provided by Bank OZK and Barings. “This refinancing is a testament to the quality and curation of what we have built at Star Metals Offices,” says Spencer Morris, president of Allen Morris Co. “Securing this financing package from Banco Inbursa — an institution that has become one of the most active and discerning real estate lenders in the country — reflects the caliber of our tenants, our retail program and the broader Star Metals District vision.” The 15-story office tower, which is 97 percent leased, opened in July 2021 and is the centerpiece of the $1.5 billion Star Metals District development. Tenants include Outreach, a new-to-market tech company; Nike’s regional technology hub; Signature, a leading coworking group; PrizePicks; Nelson Architecture; Brand Apart; PagerDuty; Sovos; and BMI, among others. Designed by Oppenheim Architecture and Warner Summers Architecture, Star Metals Offices features exterior balconies on each level, as well as a coffee shop, outdoor lounges/workspaces, a 5,000-square-foot rooftop restaurant …
SAN ANTONIO — Divine Technologies Aerospace Corp. (D-Tech), a Texas-based aerospace company, has signed an 83,482-square-foot industrial lease in San Antonio. The space is located within Building 2 of Mid-City Business Park, a three-building, 352,890-square-foot development on the city’s west side. Roger Hill III and Kyle Kennan of Partners Real Estate represented the landlord, Houston-based Welcome Group, in the lease negotiations. John Colglazier Jr. and Scott Christy, also with Partners, represented the tenant.
SAN ANTONIO — Marcus & Millichap has arranged the sale of Rigsby Avenue Shopping Center, a 62,400-square-foot retail property located on the east side of San Antonio. Built in 2002, the center is home to tenants such as Dollar Tree (anchor), Alamo City Urgent Care, Brident Dental, Baptist Health Systems, AVIS and Cato. Philip Levy of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors who requested anonymity, in the transaction.
HOUSTON — Colliers has brokered the sale of Parks at Boulder Creek, a 52,889-square-foot shopping center located in South Houston. The center sits on a 4.8-acre site at the southeast corner of Beltway 8 and Pearland Parkway. Spec’s Wines, Spirits & Finer Foods anchors the center, which is also home to a Chipotle Mexican Grill. Christopher Winters of Colliers represented the seller in the transaction. Joshua Sebesta of S+P Interests represented the buyer. Both parties requested anonymity.
CARROLLTON, TEXAS — Locally based brokerage firm Holt Lunsford Commercial has negotiated a 39,860-square-foot industrial lease in the northern Dallas metro of Carrollton. According to LoopNet Inc., the building at 2425 Camp Ave. was constructed in 1979 and totals 120,820 square feet. Andrew Gilbert, Keaton Brice and Jon Skidmore of Holt Lunsford represented the landlord, Boston-based Taurus Investment Holdings, in the lease negotiations. Rich Young of Rich Young Co. represented the tenant, Turnkey Overstock Inc.
NEW YORK CITY — ACORE Capital has provided a $110 million loan for the refinancing of 370 Lexington Avenue, a 317,000-square-foot office building located in the Grand Central submarket of Midtown Manhattan. The building was originally constructed in 1929 and recently underwent renovations to the lobby, elevators, building access systems, hallways and bathrooms. The loan was executed as part of a larger, $138 million recapitalization, additional terms of which were not disclosed. The sponsor is a partnership between two locally based owner-operators, Broad Street Development and KSR Capital. Peter Greisinger arranged the financing.