Saturday, July 25, 2026
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Mixed-UseNortheast

PARTNERSHIP GETS $218M FOR REDEVELOPMENT PROJECT

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FORT LEE, N.J. — A partnership led by Tucker Development Corp. has secured $218 million in financing for the first phase of Hudson Lights, a 1 million-square-foot, mixed-use redevelopment in Fort Lee. Savills US arranged the debt and equity financing, including a $117 million construction loan from Sovereign Santander Bank. Tucker will soon begin construction on the first 517,000-square-foot phase, including 143,000 square feet of retail, 864 parking stalls and 276 luxury apartments. Tucker Development is building Hudson Lights with its development partner, KRE Group, and Ares Management. Tishman Construction Corp. is serving as the development’s general contractor. KRE Group will also assist with property management for the development’s residential portion upon completion. Robert K. Futterman & Associates is serving as the development’s exclusive retail leasing agent. Hudson Lights, designed by architecture and planning firm Arquitectonica, is the western portion of a 16-acre site in Fort Lee undergoing comprehensive redevelopment. The second phase of Hudson Lights will include an additional 201 residential units, about 50,000 square feet of retail space and parking and a 175-room hotel.

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MultifamilyNortheast

MRC ORIGINATES $5M LOAN FOR CONDO BUILDING IN NYC

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NEW YORK CITY — Madison Realty Capital (MRC) has originated a $5 million loan, secured by a 243,230-square-foot, newly constructed condominium building in Brooklyn. The five-story property includes 25 residential units and 13 parking spots and is located at 345 Ovington Ave. in the Bay Ridge neighborhood. The loan will be used to retire the existing mortgage, fund closing costs and a future project. The property is roughly 95 percent complete and features one-, two-, and three-bedroom units. The developer has already executed 24 sale agreements and units are expected to begin closing soon.

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MultifamilyTexas

CARROLL ORGANIZATION ACQUIRES LAKEVIEW LOFTS IN METRO HOUSTON

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CYPRESS, TEXAS — Carroll Organization, an Atlanta-based real estate firm specializing in multifamily properties, has purchased Lakeview Lofts in Cypress, approximately 25 miles northwest of Houston. The 366-unit apartment community, located at 17807 Lakecrest View Drive, was 93 percent occupied at the time of the sale. Apartment Realty Advisors marketed Lakeview Lofts on behalf of the seller, TLMF 1 LP, the firm which also built the apartments. Carroll, which expands its Houston-area portfolio to more than 3,000 units with this acquisition, plans to rebrand the property as ARIUM Towne Lake.

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MultifamilyTexas

M&M BROKERS SALE OF 33-UNIT MULTIFAMILY PROPERTY IN IRVING

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IRVING, TEXAS — Marcus & Millichap has brokered the sale of Falcon Apartments, a 33-unit, garden-style multifamily community in Irving, situated approximately 10 miles west of downtown Dallas. The property, which was originally constructed in 1961, was 95 percent occupied at the time of the sale. Clint Roberts of Marcus & Millichap’s Fort Worth office represented the seller, Delicias Investments Inc., and also secured the buyer, a local private investor.

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IndustrialTexas

NEWMARK ARRANGES 24,000 SF INDUSTRIAL BUILD-TO-SUIT IN HOUSTON AREA

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PASADENA, TEXAS — Newmark Grubb Knight Frank has arranged a 24,000-square-foot build-to-suit lease for Holman Boiler Works Inc. at Bayport North Industrial Park II in Pasadena, a southeastern suburb of Houston. Rob Stillwell of NGKF’s Houston office represented the tenant, a boiler solutions provider headquartered in Dallas and in business for 65 years. Holman’s new facility will be located at Underwood Road and New Decade Road within the complex, which is near the intersection of Highway 146 and Fairmont Pkwy. B. Kelley Parker III of Cushman & Wakefield represented the property owner and landlord, a Texas limited partnership.

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IndustrialTexas

MOODY RAMBIN NEGOTIATES 10,500 SF INDUSTRIAL LEASE IN PASADENA

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PASADENA, TEXAS — Moody Rambin has arranged an industrial lease of 10,500 square feet at the Jasmine Warehouse Project in Pasadena, about 15 miles southeast of Houston. FlexiPlus LLC, a packaging and container company, signed on to be the newest tenant at the 1905 Jasmine Drive facility. Dan Nguyen and Doyle Toups of Moody Rambin represented the landlord, V & W Leasing, in the negotiations.

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RetailWestern

IT’SUGAR LEASES SPACE FOR $312 PSF ON THIRD STREET IN SANTA MONICA

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SANTA MONICA, CALIF. — It’Sugar has signed an eight-year lease for 2,250 square feet of space on Third Street in Downtown Santa Monica. The space is located at 1427 Third Street. The lease is valued at $6.2 million, or $312 per square foot, a record-breaking high in this shopping district. The global candy and gift retailer will occupy the space in March 2014. It’Sugar was represented by Jeremy Ezra of RKF. The landlord, Promenade Enterprises LP, was represented by Randy Starr of Avison Young.

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OfficeWestern

LIVINGSOCIAL LEASES 19,311 SF AT PACIFIC CENTER IN TORRANCE

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TORRANCE, CALIF. — LivingSocial has leased 19,311 square feet at Pacific Center in Torrance. The center is located at 21250 Hawthorne Blvd. Other notable tenants at the center include Bank of America, Wells Fargo Insurance and Morgan Stanley Smith Barney. The landlord, Bixby Land Company, was represented by Eric Lastition, Doug Brawn and Thacher Goodwin of Colliers International. They are the exclusive leasing agents for the property.

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