Property Type

Meridian Design Build to Construct Two Spec Industrial Buildings in Columbus, Ohio

by Kristin Harlow February 24, 2025

COLUMBUS, OHIO — Hillwood has selected Meridian Design Build to construct two Class A speculative industrial buildings at its Central Columbus Commerce 71 development in Columbus. The buildings will total 624,004 square feet and will be located on a 48-acre redevelopment site at the southwest corner of Windsor and Joyce avenues. Construction is underway at the project site. The team includes Red Architecture and civil engineer Kimley-Horn and Associates Inc. Joel Yakovac and Michael Linder of Colliers are marketing the development for lease.

February 24, 2025

Market Reports North Carolina Office Southeast Southeast Market Reports

The Faucet Is Back On for Raleigh-Durham’s Office Market

by John Nelson February 24, 2025

Raleigh-Durham’s office market entered the year on a positive note as 2024 ended strong. Vacancy was largely flat in the fourth quarter, net absorption neared 300,000 square feet and move-outs were sparse. After years of uncertainty and short-term renewals dominating the landscape, companies are now committing to longer leases. Clarity around business drivers, a growing labor pool and new market entrants are all contributing factors to this decisive turn. Firms are confidently making long-term real estate decisions, bringing lease terms back to the five- to 10-year range. While the vibrancy of the pre-pandemic era has not fully returned, data shows a steady recovery throughout 2024, and 2025 is poised to bring even stronger growth. In 2024, Raleigh-Durham welcomed several notable commitments from companies establishing a foothold in the market, like Jewelers Mutual, JTL and Amgen. Leasing activity stayed strong through the fourth quarter, supporting the net absorption of nearly 160,000 square feet of office space over the course of the year. Rents have seen some downward corrections overall, but well-located, highly amenitized assets have retained rent stability. Recent recommitments from major companies like Nutanix and Hitachi highlight the area’s enduring appeal. Vacancy closed out December at 17.3 percent but was …

February 24, 2025

The Wellness Village in Mead Valley, California

California Development Healthcare Top Stories Western

PMB Tops Out $580M Behavioral Health Campus in Mead Valley, California

by Channing Hamilton February 21, 2025

MEAD VALLEY, CALIF. — Local developer PMB, in partnership with the Riverside University Health System, has topped out The Wellness Village in Mead Valley, a $580 million behavioral health campus located about 25 miles south of San Bernadino, Calif. Upon completion, the campus will serve as a mental health urgent care and crisis residential program for children under the age of 13. The Wellness Village will provide a range of services, including urgent behavioral health treatment, supportive housing and outpatient care. The facility will also house primary and specialty medical care practices, as well as dental services, substance use disorder treatment and an on-site pharmacy. More specifically, Wellness Village will include: Additionally, the property will offer amenities designed to promote community interaction and holistic recovery, such as green spaces and gardens, sports courts, an activity lawn, public market/café and community meeting space for local events and activities. Construction on The Wellness Village is slated to complete in 2026. Boulder Associates is the project architect, while Snyder Langston is the design-builder. PMB Real Estate Services will serve as the property manager. Financing sources for the development include Morgan Stanley, JLL, Kensington Advisors, P3 Foundation, Advocates for Human Potential Inc. and the …

February 21, 2025

Industrial Self-Storage Texas

Hines Recapitalizes 9,700-Unit Self-Storage Portfolio in DFW

by Taylor Williams February 21, 2025

HOUSTON — Houston-based Hines has recapitalized a portfolio of 14 self-storage facilities totaling approximately 9,700 units via new joint venture equity with the operator, CubeSmart. The properties collectively total more than 1.2 million square feet of net rentable space and are scattered across the Dallas-Fort Worth (DFW) metroplex. Aaron Swerdlin and Andrew Warin led the Newmark team that structured the recapitalization on behalf of Hines. CubeSmart is now the majority owner of the portfolio, though additional details of the transaction were not disclosed.

February 21, 2025

Acquisitions Office Texas

JLL Brokers Sale of 274,583 SF Office Building in Houston

by Taylor Williams February 21, 2025

HOUSTON — JLL has brokered the sale of 515 Post Oak, a 274,583-square-foot office building in Houston’s Galleria neighborhood. The building was originally constructed in the 1980s on a 3.2-acre site and offers amenities such as a fitness center, tenant lounge/game room, café and technology equipped conference areas. Jeff Hollinden and Kevin McConn of JLL represented the seller, New York Life Real Estate Investors, in the transaction and procured the buyer, Dallas-based investment firm EY Ventures LLC. The building was 74 percent leased at the time of sale.

February 21, 2025

Development Hospitality Texas

Midway Completes Renovation of 244-Room Moran Hotel at CITYCENTRE in West Houston

by Taylor Williams February 21, 2025

HOUSTON — Midway has completed the renovation of The Moran, a 244-unit hotel located within the local developer’s CITYCENTRE mixed-use destination in West Houston. As part of the renovation, all guestrooms received furnishing, bedding, lighting and technology upgrades. In addition, the development team upgraded the hotel’s meeting and event spaces, as well as the lobby and front entrance areas, and introduced multiple new food-and-beverage concepts.

February 21, 2025

Acquisitions Industrial Texas

Marcus & Millichap Brokers Sale of 6.1-Acre Industrial Outdoor Storage Facility in Baytown, Texas

by Taylor Williams February 21, 2025

BAYTOWN, TEXAS — Marcus & Millichap has brokered the sale of a 6.1-acre industrial outdoor storage facility (IOS) in the eastern Houston suburb of Baytown. The building at 12825 Upland Way was completed in 2021 and was fully leased at the time of sale to EquipmentShare, a provider of construction solutions. Peter Bauman and Tivon Moffitt of Marcus & Millichap represented the seller, a REIT, in the deal. Nick Geaneotes and Derrick Dougherty of Marcus & Millichap procured the New York-based buyer. Both parties requested anonymity. Stephen Fillipo of Marcus & Millichap Capital Corp. arranged acquisition financing for the deal through a national credit union.

February 21, 2025

Development Office Retail Texas

Veritex Community Bank to Open New Office, Retail Branch in Frisco

by Taylor Williams February 21, 2025

FRISCO, TEXAS — Veritex Community Bank will open a new office and retail branch in Frisco. The building will span 40,000 square feet, and Veritex will occupy the ground floor, while the remainder of the space will be leased to other tenants. Amenities will include a golf simulator and putting areas, a nod to the building’s proximity to the PGA of America’s headquarters campus. The building will also house a boardroom and training areas. Locally based firm Cawley Partners is leading development of the project. The general contractor, Scott + Reid, plans to begin construction before the end of the month. Completion is slated for early 2026.

February 21, 2025

Acquisitions Multifamily New Jersey Northeast

Inland Acquisitions Buys Northern New Jersey Apartment Community for $131.5M

by Taylor Williams February 21, 2025

UNION, N.J. — Inland Acquisitions, a division of Chicago-based investment firm The Inland Real Estate Group of Cos., has purchased Summit Court, a 393-unit apartment community located in the Northern New Jersey township of Union. The sales price was $131.5 million. Built in phases between 2018 and 2023, Summit Court comprises 210 one-bedroom units and 183 two-bedroom apartments that feature stainless steel appliances and private washers and dryers. Amenities include a pool, fitness center, outdoor lounge, game room with a billiards table, pet grooming room and outdoor grilling and dining stations. Jose Cruz, Mike Oliver, Steve Simonelli, Elizabeth DeVesty and Austin Pierce of JLL represented the seller, a joint venture between Fidelco Realty Group and Diversified Properties, in the transaction. Mark Cosenza negotiated the deal for Inland on an internal basis. M&T Realty Capital provided a $65.7 million Fannie Mae acquisition loan for the deal.

February 21, 2025

Acquisitions Maine Northeast Retail

Marcus & Millichap Brokers $12.4M Sale of Retail Building in Bangor, Maine

by Taylor Williams February 21, 2025

BANGOR, MAINE — Marcus & Millichap has brokered the $12.4 million sale of a 91,828-square-foot retail building in Bangor, Maine. BJ’s Wholesale Club occupies the building at 110 Longview Drive, which sits on a 13-acre site and was originally constructed in 2002 and renovated in 2015, according to LoopNet Inc. Adam Cohen and Brett Kilar of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

February 21, 2025

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