ORANGEFIELD, TEXAS — General contractor N&T Construction has begun renovations of three scholastic campuses within the Independent School District of Orangefield, located near the Texas-Louisiana border. The project will replace 21 portables with permanent facilities, enclose previously open areas and add windows to all new classrooms. At the elementary school, the project team will add a two-story structure with 32 classrooms, a new cafeteria and a renovated gym. The junior high school will see expanded classrooms and new support spaces, and the high school will receive a new cafeteria, library, classrooms and career and technical education spaces. Additionally, all campuses will receive upgraded safety features, utility enhancements, flood mitigation measures and new landscaping and walkways. Pfluger Architects designed the renovation projects, which are being funded by a $42.9 million bond approved in 2023.
HOUSTON — OKT Lighting USA has signed a 43,760-square-foot industrial lease in South Houston. The manufacturer of LED linear lighting and downlights is taking space at 2304 Reed Road, an industrial building that according to LoopNet Inc. totals 79,072 square feet and features 30-foot clear heights. Will Mason and Tyler Maner of Stream Realty Partners represented the tenant in the lease negotiations. Allison Bergmann and Jim Foreman of Cushman & Wakefield represented the locally based landlord, Hines.
DENTON, TEXAS — Weitzman has brokered the sale of University Lanes, a 17,657-square-foot bowling alley and entertainment venue in the North Texas city of Denton. The venue is located near Texas Woman’s University and includes a snack and alcoholic beverages bar. Kevin Butkus and Guillermo Lopez of Weitzman brokered the deal. The names of the seller and locally based buyer were not disclosed.
CONCORD, N.C. — Avison Young has brokered the sale of a 402,390-square-foot distribution center located at 7040 Northwinds Drive NW in Concord, a suburb of Charlotte along I-85. E-commerce giant Amazon fully occupies the facility for use as a fulfillment center. Texas-based Stonelake Capital Partners purchased the property from SL Industrial Partners, a member of the Silverman Group family of companies. Chris Skibinski, Henry Lobb and Abby Rights of Avison Young brokered the transaction. The sales price was not disclosed, but the Charlotte Business Journal reports the property traded for approximately $51 million. Will Jenkins, Marc Hedrick and Jack Harvey led Stonelake Capital’s team in the transaction on an internal basis.
MIAMI — A partnership between development firm Related Group and Boston-based private equity firm Rockpoint has delivered The Highley House, a mixed-use project in Miami. Situated at 2150 N. Miami Ave. in the city’s Wynwood district, the development features two towers comprising 304 rental apartments, approximately 72,000 square feet of Class A offices and 18,000 square feet of retail space. The co-developers named the project after Locke Highleyman, a developer behind local projects like Hibiscus and Palm Islands and the judge responsible for christening the area as “Wyndwood” in 1917, which was later streamlined to “Wynwood.” Amenities at The Highley House include a rooftop with a swimming pool, summer kitchen, bar and sky lounge. Other amenities include a private dining and wine room, private cinema and lounge, podcast suites, game room, art murals throughout, electric vehicle charging stations, coworking spaces, package services, storage and a wellness center with a gym, yoga room, spa, steam room, cold plunge and treatment suites. The Highley House’s apartments feature studio to three-bedroom layouts with monthly rental rates ranging from $2,389 to $5,657, according to Apartments.com.
COLONIAL HEIGHTS, VA. — PNK Group will soon break ground on an approximately $80 million industrial facility in Colonial Heights, a Richmond suburb in Chesterfield County. The New York City-based developer purchased the 86.6-acre site last month. The 846,260-square-foot facility will be situated within Ashton Industrial Park. The construction timeline for the development was not released.
LAURENS, S.C. — Appian Investments, a real estate investment group founded by commercial real estate services firm NAI Earle Furman, has completed a new 621,468-square-foot industrial building in Laurens. The speculative facility is situated along the I-385 corridor within Hunter Industrial Park, a logistics campus in the Upstate South Carolina region. Laurens County Development Corp. partnered with Appian Investments on the cross-dock development, which features 40-foot clear heights, 2,500 square feet of office space, 54- by 50-foot column spacing, 136 exterior dock doors, four drive-in bays, 186 trailer storage spaces and 468 automobile parking spaces. Hunter Garrett, John Staunton and Josh Kenyon of NAI Earle Furman are marketing the facility for lease or sale. Tom Daniel and James Malm of NAI Earle Furman were part of the construction team.
NEW YORK CITY — The New York City Council’s subcommittee on zoning and franchises and its committee on land use have approved a proposal to invest $5 billion in affordable housing and related infrastructure, an initiative that paves the way for the development of about 80,000 new rental units over the next 15 years. Known as the “City of Yes for Housing Opportunity,” the program would fund new housing development and infrastructure upgrades at existing properties across the city’s five boroughs, which have a combined rental vacancy rate of 1.4 percent, according to city officials. Of the $5 billion total price tag, 20 percent ($1 billion) will be provided by the state, subject to budgetary approvals processes. Additionally, the City of New York is committing $1 billion for housing capital, as well as $2 billion for projects that will support investments in sewer and flood infrastructure, as well as street improvements and upgrades to open spaces. Finally, the city plans to spend $1 billion in expense funding over 10 years in flood monitoring, neighborhood planning, tenant protection, voucher assistance and combatting source-of-income discrimination. The proposal exceeds all the housing created from rezonings during the 12 years of the Bloomberg administration …
HUNTINGTON STATION, N.Y. — Self-storage developer DXD Capital has delivered a 664-unit facility in the Long Island community of Huntington Station. The facility totals 62,125 net rentable square feet of space that will be entirely climate-controlled. Extra Space Storage is the operator of the facility, which will be the first new self-storage project to be built in Huntington Station in nearly three years, according to the development team. DXD Capital developed the property in partnership with Dallas-based investment firm Realty Capital Partners. Century Bank financed the project.
AUBURN, WASH.— The Lightstone Group has acquired The Outlet Collection Seattle, an enclosed mall located in Auburn, roughly 30 miles south of Seattle. WPG sold the asset for $82 million. Located at 1101 Outlet Collection Way, the property offers 919,446 square feet of retail space. Tenants include Nordstrom Rack, Burlington, Best Buy, Dave & Busters, Polo Ralph Lauren, Kate Spade, Ulta Beauty, Coach, Nike, Adidas and Michael Kors. The mall was 98 percent occupied at the time of acquisition. Lightstone plans to implement $10 million of capital improvements and tenancy upgrades. Nicholas King, Michele Dawson and Scott Ferguson of FFO Real Estate Advisors will manage outlet leasing at the property on behalf of the buyer, and Spinoso Real Estate Group will handle big box and mall tenant leasing. Dino Christophilis, Richard Frolik, George Good and Daniel Tibeau of CBRE’s National Retail Partners represented the seller in the deal.