Property Type

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

by Taylor Williams March 20, 2025

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.

March 20, 2025

Acquisitions Hospitality Oklahoma Texas

HotelBrokerOne Arranges Sale of 218-Room Hotel in Oklahoma City

by Taylor Williams March 20, 2025

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.

March 20, 2025

Development Florida Hospitality Mixed-Use Southeast

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

by John Nelson March 20, 2025

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.

March 20, 2025

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 103,780 SF Industrial Lease in Laredo, Texas

by Taylor Williams March 20, 2025

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.

March 20, 2025

Industrial Leasing Activity Lee & Associates Texas

Precision Pulley & Idler Signs 38,734 SF Industrial Lease in Arlington

by Taylor Williams March 20, 2025

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.

March 20, 2025

Leasing Activity Office Texas

Industrious to Open 18,653 SF Coworking Space at Victory Plaza in North Austin

by Taylor Williams March 20, 2025

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.

March 20, 2025

Acquisitions California Multifamily Western

Northmarq Arranges $71M Sale of 296-Unit Chaparral Apartments in Palmdale, California

by Amy Works March 20, 2025

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.

March 20, 2025

California Development Multifamily Western

Metonic Real Estate Solutions, WNPM Open 330-Unit Millennium Apartments in Palm Desert, California

by Amy Works March 20, 2025

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.

March 20, 2025

Development Hospitality Utah Western

Extell Development, Hilton to Develop Canopy by Hilton Hotel at Deer Valley East Village in Park City

by Amy Works March 20, 2025

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.

March 20, 2025

Acquisitions California Development Industrial Multifamily Western

Shopoff Realty Buys 13.7-Acre Property in Buena Park, Plans Residential Development

by Amy Works March 20, 2025

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.

March 20, 2025

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