HOUSTON — Stream Realty Partners has negotiated a 40,033-square-foot industrial lease in the Brookhollow neighborhood of northwest Houston. The tenant, Lindsey’s Office Furniture, is taking space at 7049 Brookhollow West Drive, which according to LoopNet Inc. totals 108,000 square feet and features 26-foot clear heights. Boone Smith and Garret Geaccone of Stream represented the landlord, STAG Industrial Holdings, in the lease negotiations. Patrick Wolford of Lee & Associates represented the tenant.
RICHARDSON, TEXAS — Locally based brokerage firm Holt Lunsford Commercial has arranged a 22,332-square-foot industrial lease renewal in the northeastern Dallas suburb of Richardson. The tenant is TJ Inspection Inc., which provides services for the energy industry. Josh Barnes and Weston Porter with Holt Lunsford represented the landlord, Dallas-based ATCAP Partners, in the lease negotiations.
NEW YORK CITY — Locally based developer The Moinian Group has topped out 7 Platt Street, a 37-story apartment tower in Manhattan’s Financial District. The 170,000-square-foot building will house 250 units in studio, one- and two-bedroom configurations, as well as some penthouses. Indoor amenities will include a fitness center, library, coworking pods, lounge spaces, private dining spaces with outdoor terrace access, a gaming area, rooftop deck, golf putting area and a communal entertainment kitchen. Residents will have access to outdoor amenities such as a rooftop sundeck and garden lounge, movie lounge area with accompanying seating, barbecues, dining areas, outdoor fitness equipment, an outdoor coworking space and a golf putting area. The design team includes Rockwell Group and Hill West Architects, and AECOM Tishman is serving as the project’s general contractor. Completion is scheduled for the first quarter of 2026. Vertical construction began in January.
BOSTON — MassHousing has provided $25 million in financing for the consolidation and renovation of two affordable housing properties in Boston. The borrower, Affordable Housing & Services Collaborative Inc., will combine the 46-unit Columbia West Apartments and the 45-unit Uphams Corner Market in the city’s Dorchester neighborhood into a 91-unit property that will be known as Columbia Uphams Apartments. The properties were built in 2005 and 1926, respectively. The financing includes $3.9 million in permanent debt, a $20 million construction loan and $1.1 million in subordinate financing. Planned improvements include upgrades to building envelopes via new windows and doors, as well as new roofs, HVAC systems, appliances, faucets, showerheads, toilets, lighting and security systems. Units will also receive new kitchen and bathroom cabinets, countertops and flooring, and elevator systems will be modernized.
ALPHA, N.J. — A joint venture between national investment and development firm CRG and Los Angeles-based PCCP is underway on construction of The Cubes at Alpha, a 575,900-square-foot industrial park that will be located in Northern New Jersey. The Cubes at Alpha will consist of two single-side-load buildings that will total 270,900 and 305,000 square feet on a 37-acre site. Both buildings will offer clear heights of 36 feet, ESFR sprinkler systems and dedicated space for trailer parking and/or outdoor storage. CRG’s parent company, Clayco, will serve as the design-build firm for the project, while Lamar Johnson Collaborative is the architect. Construction is slated for a third-quarter 2025 completion.
SYRACUSE, N.Y. — Virginia-based private equity firm Excel Group has acquired the 209-room Embassy Suites by Hilton Syracuse Destiny USA. The name stems from the property’s location adjacent to Destiny USA, a 2.4 million-square-foot shopping, dining and entertainment destination. The hotel opened in 2017 and offers amenities such as a indoor pool, fitness center, business center and meeting rooms. The seller and sales price were not disclosed. The new ownership has tapped Island Hospitality Management to manage the hotel.
MOORESTOWN, N.J. — Marcus & Millichap has brokered the $5.4 million sale of an 8,420-square-foot educational building in the Southern New Jersey community of Moorestown. Operator Spring Education Group occupies the building via its Chesterbrook Academy daycare and early learning center. Sean Lenchner, Mark Ruble, Chris Lind and Zack House of Marcus & Millichap represented the buyer, a limited liability company, in the transaction. John Horowitz of Marcus & Millichap assisted in closing the deal as the broker of record.
BUCKEYE, ARIZ. — Vestar has broken ground on Verrado Marketplace, a retail destination at the northeast corner of Interstate 10 and Verrado Way in Buckeye. The 500,000-square-foot development is situated at the entrance to DMB Associates’ 8,800-acre Verrado master-planned community. The $275 million project is projected to generate more than $50 million in total tax revenue for the City of Buckeye and contribute an estimated $1.8 billion in economic output over the next 10 years. Upon completion, Verrado Marketplace will have more than 50 retailers and restaurants, including Target, Harkins Theater’s Backlot concept, Safeway, Ross Dress for Less, Marshalls and HomeGoods. Additional pre-signed tenants include ULTA Beauty, Famous Footwear, Buckle, Salt Tacos + Tequila, Bath & Body Works, Shake Shack, Handel’s Ice Cream, Nekter Juice, See’s Candies, Thai Chili, Einstein Bros. Bagels, Tropical Smoothie, Hawaiian Bros., European Wax Center, Zara Nails, Pacific Dental, America’s Best Contacts & Glasses and Mountain America Credit Union. The new tenants are slated to start opening in spring 2026. Verrado Marketplace will also feature a splash pad, live performance stage and video screen and a half-acre central lawn surrounded by restaurants and outdoor fireplace, as well as a Sip & Stroll experience, where guests over 21 …
PARK CITY, UTAH — Hyatt Hotels Corp. has opened Grand Hyatt Deer Valley, a 436-key resort at Extell Development Co.’s Deer Valley East Village in Park City. Grand Hyatt Deer Valley provides direct access to Deer Valley Resort, including more than 300 skiable acres, 20 debut runs and three chairlifts, and is expected to open for the 2024/2025 season in December, conditions permitting. Designed by Denver-based OZ Architecture, Grand Hyatt Deer Valley offers 381 guest rooms and 55 residences. All rooms are equipped with flat-screen HDTVs, Nespresso coffee makers, blackout curtains, individual climate control, hair dryers, bathrobes and minifridges. The resort also features a heated outdoor pool, three oversized hot tubs, a pool deck and a nighttime entertainment program. The property offers four restaurants, Remington Hall, Hidden Ace, Living Room and Double Blacks; nearly 30,000 square feet of indoor and outdoor event space, including a 10,000-square-foot ballroom; skier services; pet-friendly programming; Camp Hyatt Kids Club; and The Spa at Grand Hyatt Deer Valley.
KENMORE, WASH. — Weidner Apartment Homes has completed the sale of Heron View, a multifamily property in Kenmore, to Wright Investment Properties for $19.9 million, or $276,042 per unit. Philip Assouad, Giovanni Napoli, Ryan Harmon, Nick Ruggiero and Anthony Palladino of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. Built in 1987, Heron View features three residential buildings and a leasing office surrounding a central parking lot. The community offers 72 one- and two-bedroom apartments, averaging 797 square feet, with white appliances, laminate countertops, washers/dryers and wood-burning fireplaces.