Property Type

Carmel Partners Begins Leasing 569-Unit Apartment Community in Brooklyn

by Taylor Williams February 28, 2025

NEW YORK CITY — California-based investment firm Carmel Partners has begun leasing Loden, a 569-unit apartment community located in the Crown Heights area of Brooklyn. Designed by Hill West Architects, Loden offers studio, one- and two-bedroom units that are furnished with stainless steel appliances, quartz countertops and backsplashes and individual washers and dryers. Amenities include a fitness center, game room, lounge, children’s playroom, private dining room and outdoor grilling and dining stations. Rents start at $2,900 per month for a studio. Carmel Partners has hired MNS Real Estate to lease and market the property.

February 28, 2025

Acquisitions Industrial New York Northeast

Lincoln Equities, PCCP Sell Light Industrial Portfolio in Valley Cottage, New York for $62.7M

by Taylor Williams February 28, 2025

VALLEY COTTAGE, N.Y. — A partnership between Lincoln Equities Group and PCCP LLC has sold a portfolio of three light industrial properties totaling 261,950 square feet in Valley Cottage, about 30 miles north of New York City. The sales price was $62.7 million. The three properties range in size from 64,000 to 112,160 square feet, and the buildings within them range in size from 2,720 to 42,075 square feet and feature clear heights of 20 to 30 feet. The portfolio was 97 percent leased to 17 tenants at the time of sale. JLL represented the partnership in the transaction. The buyer was Invesco Real Estate.

February 28, 2025

Loans Multifamily New York Northeast Northmarq

Northmarq Provides $50M Agency Loan for Refinancing of Manhattan Apartment Building

by Taylor Williams February 28, 2025

NEW YORK CITY — Northmarq has provided a $50 million Fannie Mae loan for the refinancing of Tompkins Square Plaza, a 124-unit apartment building located at 190 E. 7th St. in Manhattan’s East Village area. The transit-served, doorman-equipped building was originally constructed in 1998 and offers two- and three-bedroom units, as well as a fitness center and rooftop terrace. Tom Peloquin led the Northmarq team that originated the 10-year loan on behalf of the borrower, The Downtown Apartments LLC.

February 28, 2025

Acquisitions Hospitality New York Northeast

Marcus & Millichap Brokers $10.6M Sale of Wyndham-Branded Hotel Near Albany

by Taylor Williams February 28, 2025

CLIFTON PARK, N.Y. — Marcus & Millichap has brokered the $10.6 million sale of a 104-room La Quinta Inn & Suites, which is part of the Wyndham Hotels & Resorts family of brands, in Clifton Park, located just north of Albany. The four-story hotel was built on a 3.1-acre site in 2017 and offers amenities such as an indoor pool and fitness center. Kevin Laureno and Alexandre Duong of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer was also not disclosed.

February 28, 2025

Acquisitions Massachusetts Northeast Retail

Atlantic Capital Partners Negotiates Sale of 124,405 SF Shopping Center in Stow, Massachusetts

by Taylor Williams February 28, 2025

STOW, MASS. — Regional brokerage firm Atlantic Capital Partners has negotiated the sale of Stow Shopping Center, a 124,405-square-foot retail property in Central Massachusetts. Grocer Shaw’s anchors the center, which was 90 percent leased at the time of sale via the recent new leases with a dentistry practice and spa operator. Justin Smith, Chris Peterson, Sam Koonce, Danielle Donovan and Matt Austin of Atlantic Capital Partners represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

February 28, 2025

Loans Office Texas Top Stories

Newmark Facilitates $450M Refinancing of 47-Story Office Tower in Downtown Houston

by Channing Hamilton February 28, 2025

HOUSTON — Newmark has arranged a $450 million loan for the refinancing of Texas Tower, a 47-story office building in downtown Houston. Located at 845 Texas Ave. on the former site of the Houston Chronicle newspaper, the tower comprises 1.2 million square feet. A partnership between locally based real estate giant Hines and Ivanhoé Cambridge delivered the property in 2021. Jordan Roeschlaub, Jonathan Firestone, Clint Frease, Blake Thompson, Travis Bailey, Peter Mavredakis and Tim Polglase of Newmark arranged the loan on behalf of Hines and Ivanhoé Cambridge. Wells Fargo and Morgan Stanley provided the CMBS single-asset single-borrower (SASB) loan. “The refinancing for this property was particularly notable as it marked the first time in two years that a multi-tenant office tower outside of New York City was financed in the CMBS single-asset, single-borrower market,” said Firestone. Texas Tower was 95 percent leased at the time of refinancing. Newmark stated that more than 500,000 square feet of leasing has taken place over the past year. Tenants at the property currently include McGuireWoods, Vinson & Elkins, Morgan Stanley, Cheniere Energy Inc. and Clifford Chance. Texas Tower also serves as Hines’ global headquarters. The skyscraper offers amenities such as a lobby, green spaces, …

February 28, 2025

Data Centers Development Industrial Texas

PowerHouse, Provident Unveil Plans for 768-Acre Data Center Campus in Grand Prairie, Texas

by Taylor Williams February 27, 2025

GRAND PRAIRIE, TEXAS — PowerHouse Data Centers, a division of Virginia-based American Real Estate Partners, and the data center development arm of Dallas-based investment firm Provident Realty Advisors, have unveiled plans for a 768-acre campus in the central metroplex city of Grand Prairie. The hyperscale campus will be developed in three phases and will ultimately consist of 24 buildings with a power capacity of 1.8 gigawatts at full build-out. The joint venture has secured all necessary approvals and permits and is moving forward with design and engineering initiatives. Phase I facilities are slated to come on line in May 2026. The project represents the second development in the area for PowerHouse Data Centers, which announced a 50-acre project in Irving last spring.

February 27, 2025

Development Industrial Texas

Brinkmann, Asbury Automotive Break Ground on Porsche, Volvo Dealership Campus in Dallas

by Taylor Williams February 27, 2025

DALLAS — A partnership between St. Louis-based general contractor Brinkmann Constructors and Asbury Automotive Group has broken ground on a build-to-suit industrial project in Dallas that will deliver a campus-style Porsche and Volvo dealership. The project’s initial phase will involve the demolition of a 600,000-square-foot manufacturing facility and the renovation of an existing Volvo dealership. A 30,000-square-foot addition to the Volvo dealership will feature a 29-bay service shop, parts department and technical facilities. The project also includes the construction of new 140,000-square-foot Porsche dealership with a 70-bay service shop, parts department, tech facilities, offices and a showroom. Praxis3 is the project architect. Completion is slated for early 2027.

February 27, 2025

Leasing Activity Office Texas

Toyota Financial Services Signs 242,000 SF Office Lease in Frisco

by Taylor Williams February 27, 2025

FRISCO, TEXAS — Toyota Financial Services has signed a 242,000-square-foot office lease in Frisco. The automotive finance company will be the sole occupant of The Offices at Southstone Yards, a seven-story, mass timber building that is part of the 45-acre Southstone Yards development. Designed by Duda|Paine Architects in partnership with Gensler, The Offices at Southstone Yards offers amenities such as a fitness and wellness center, meeting spaces, private terraces on every floor and access to three acres of surrounding park space. CBRE represented the developer, Crow Holdings, in the lease negotiations. JLL represented Toyota Financial Services.

February 27, 2025

Development Restaurant Retail Texas

Trademark to Develop 25-Acre Retail, Restaurant District at Dunham Pointe in Cypress, Texas

by Taylor Williams February 27, 2025

CYPRESS, TEXAS — Fort Worth-based Trademark Property Co. will develop a 25-acre retail and restaurant district within Dunham Pointe, a 1,300-acre master-planned community located in the northwestern Houston suburb of Cypress. The new district will total 205,000 square feet, and roughly 50 retail and food-and-beverage operators have already submitted preliminary lease offers for the property, according to Trademark. Construction is expected to begin in the fourth quarter, with the first openings slated for early 2027. At full build-out, Dunham Pointe will also feature more than 2,000 single-family homes and a school.

February 27, 2025

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