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Palladium-Houston-Ella
Affordable HousingDevelopmentMultifamilyTexas

Palladium USA to Develop $35M Affordable Housing Project in Northeast Houston

by Taylor Williams

HOUSTON — Dallas-based multifamily developer Palladium USA will develop a $35 million affordable housing project in northeast Houston. Palladium Houston Ella will be a three-story, 146-unit building that will house one-, two- and three-bedroom units. About 78 percent (115) of the units will be reserved for renters earning between 30 and 60 percent of the area median income, and the remainder will be rented at market rates. Amenities will include a pool, fitness center, conference center, dog park, computer lounge, kid’s play area and a clubroom. Palladium USA is developing the project in partnership with the Harris County Housing Finance Corp. HEDK Architects is designing the property, and Brownstone Construction is serving as the general contractor.

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Everstead-at-Conroe
Build-to-RentDevelopmentSingle-Family RentalTexas

Landmark Properties Breaks Ground on 190-Unit Build-to-Rent Project Near Houston

by Taylor Williams

CONROE, TEXAS — Landmark Properties has broken ground on The Everstead at Conroe, a 190-unit build-to-rent residential project on the northern outskirts of Houston. The site spans 23.5 acres, and the community will offer a mix of 56 two-bedroom and 134 three-bedroom ranch homes and townhomes. Amenities will include a pool, dog park, playground, pickleball and bocce courts, 567 parking spaces and a 2,817-square-foot clubhouse with a fitness center. Landmark Properties is co-developing the project with Open House Group Co. Full completion is slated for late 2025.

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IndustrialLeasing ActivityTexas

Finial Group Secures 18,600 SF Industrial Lease Renewal in Northwest Houston

by Taylor Williams

HOUSTON — Locally based brokerage firm Finial Group has secured an 18,600-square-foot industrial lease renewal in Houston. The tenant was B&T Rentals, and the space is located within Four Seasons Business Park on the city’s northwest side. According to LoopNet Inc., the single-tenant building at 6826 Bourgeois Road was constructed in 2015. Jack Gaffney and John Buckley of Finial Group represented the undisclosed landlord in the lease negotiations.

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Leasing ActivityOfficeTexas

Big 12 Conference Signs 14,107 SF Office Headquarters Lease in Irving

by Taylor Williams

IRVING, TEXAS — The Big 12 Conference has signed a 14,107-square-foot lease for its new office headquarters in Irving. The collegiate athletic league will relocate from 400 E. John W. Carpenter Freeway to the Williams Square complex this fall. Travis Boothe and Cynthia Cowen of Cushman & Wakefield represented the Big 12 in the lease negotiations. Bill Brokaw and Karch Schreiner of Hillwood Urban internally represented ownership, a partnership between Apollo Global Management, Vanderbilt Office Properties and Hillwood Urban.

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CivicDevelopmentTexas

Children of America to Open 10,000 SF Childcare, Education Center in Metro Houston

by Taylor Williams

CYPRESS, TEXAS — Children of America will open a 10,000-square-foot childcare and early education center at 20327 Longenbaugh Road in the northwestern Houston suburb of Cypress. Children of America Cypress Springs, which will be the organization’s third facility in the Houston area, will house 12 classrooms that can support about 175 students. The opening is slated for 2025.

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AcquisitionsNew YorkNortheastRetail

JLL Arranges Sale of 730,000 SF Retail Power Center in Hicksville, New York

by Taylor Williams

HICKSVILLE, N.Y. — JLL has arranged the sale of Broadway Commons, a 730,000-square-foot retail power center in the Long Island community of Hicksville. The center was 97 percent leased at the time of sale to tenants such as Round 1 Bowling & Amusement, Showcase 12 Cinema, H&M, Old Navy, Blink Fitness, Buffalo Wild Wings, On the Border, Hook & Reel, Panera Bread and Blaze Pizza. Jose Cruz, Kevin O’Hearn, J.B. Bruno and David Monahan of JLL represented the undisclosed seller in the transaction and procured the buyer, a partnership between KABR Group, BTF Capital and AJM BRE Ventures.

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Cornerstone-at-Branchburg
AcquisitionsMultifamilyNew JerseyNortheast

Walters Completes Lease-Up of 150-Unit Multifamily Property in Branchburg, New Jersey

by Taylor Williams

BRANCHBURG, N.J. — Locally based developer Walters has completed the lease-up of Cornerstone at Branchburg, a 150-unit, income-restricted multifamily property in Northern New Jersey. The development consists of two three-story buildings on an 11.7-acre site that are now fully occupied. Residences come in one- and two-bedroom floor plans and range in size from 700 to 900 square feet. Amenities include a fitness center, game room and outdoor grilling and dining areas. Construction began in May 2021, and leasing launched last spring.

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525-LINC-Boston
DevelopmentMassachusettsMultifamilyNortheast

Boylston Properties Delivers 80-Unit Co-living Residential Building in Boston

by Taylor Williams

BOSTON — Locally based developer Boylston Properties has delivered 525 LINC, an 80-unit co-living residential building located in the Allston area of Boston. Designed by Boston-based HDS Architecture, the property offers studio, three- and four-bedroom units that are fully furnished with utility connections in place. Communal amenities include a fitness center, work-from-home lounge, rooftop deck, community kitchen, package handling room and bike storage space. Rents start at $1,900 per month for a studio apartment.

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AcquisitionsMassachusettsNortheastRetail

IPA Negotiates Sale of 75,529 SF Shopping Center in Acton, Massachusetts

by Taylor Williams

ACTON, MASS. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Brookside Shops, a 75,529-square-foot shopping center in Acton, a western suburb of Boston. Grocer Trader Joe’s anchors the center, which was built on 10 acres in 2002. Other tenants include Staples, X-Golf and Talbots. Jim Koury led the IPA team that represented the undisclosed seller in the transaction and procured the buyer, Crosspoint Acquisitions.

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Leasing ActivityNew YorkNortheastOffice

Barry McTiernan & Moore Signs 18,464 SF Office Lease in Downtown Manhattan

by Taylor Williams

NEW YORK CITY — Insurance litigation firm Barry McTiernan & Moore LLC has signed an 18,464-square-foot office lease at One Battery Park Plaza in downtown Manhattan. Undwr the terms of the 16-year lease, the firm will relocate from 101 Greenwich St. to the entire top floor of One Battery Park Plaza later this year. Jonathan Schindler and Mark Weiss of Cushman & Wakefield represented the tenant in the lease negotiations. Kevin Daly represented the landlord, Rudin, on an internal basis.

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