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RICHARDSON, TEXAS — Telecommunications giant AT&T Inc. (NYSE: T) has signed a 186,000-square-foot lease at The Tower at Lakeside, an office building located within the 807,354-square-foot Lakeside Campus in Richardson. The transaction marks the largest new lease signed in Richardson in seven years and one of the largest leases signed in metro Dallas year-to-date, according to Newmark, which negotiated the deal. Specifically, Nathan Durham of Newmark represented the landlord, Provident Realty Advisors, in the lease transaction. Troy McDonald of CBRE and Lawrence Gardner of OMS Strategic Advisors LLC represented AT&T. Provident acquired Lakeside Campus last fall, a deal in which Newmark was also involved. AT&T, which is headquartered in Dallas, will occupy seven floors of the 16-story, 412,000-square-foot building located at 2221 Lakeside Blvd. The new space will consolidate multiple regional locations for AT&T and is expected to triple the company’s current workforce in Richardson — from approximately 400 to nearly 1,400. The Tower at Lakeside features a full-service café, high-end fitness center and a modern tenant lounge and lobby. Lakeside Campus is situated along North Central Expressway (U.S. Highway 75), near the University of Texas at Dallas and corporate campuses of State Farm, Blue Cross Blue Shield, Raytheon and Texas …

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RENO, NEV. — Metcalf Builders has broken ground on East Building 6 at Comstock Commerce Center, a logistics property owned by Locus Development Group. Slated for completion in fourth-quarter 2025, East Building 6 will offer 475,880 square feet of bulk industrial space designed to meet the needs of modern logistics and manufacturing space. The $24 million project is located within Tahoe Reno Industrial Center.

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SEATTLE — Amazon (NASDAQ: AMZN) plans to invest “at least $20 billion” in future cloud computing and artificial intelligence (AI) innovation campuses in Pennsylvania. The Seattle-based e-commerce giant has identified Salem Township in Luzerne County and Falls Township in Bucks County as the first communities that will host these campuses, with other Pennsylvania communities also under consideration. “I’m proud to announce that we have secured the largest private sector investment in the history of Pennsylvania,” said Pennsylvania Gov. Josh Shapiro. “Pennsylvania is competing again.” Upon completion, the campuses will house data centers with computer servers, data storage drives, networking equipment and other technology infrastructure used for cloud computing capabilities and generative AI. Specific details about the sites and construction timelines were not released. Last week, Amazon made a similar announcement for a $10 billion data center innovation campus in Richmond County, N.C., which followed an $11 billion investment in Georgia that Amazon announced in January. Amazon stated that the Pennsylvania investment will create at least 1,250 new jobs, as well as thousands of jobs in the Amazon Web Services (AWS) data center supply chain. The new jobs will range from data center engineers and network specialists, to engineering operations managers, security …

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ELK GROVE VILLAGE, ILL. — Greystone has provided a $58.6 million Freddie Mac Workforce Preservation loan to refinance Terraces of Elk Grove, a 427-unit multifamily property in the Chicago suburb of Elk Grove Village. Built in 1968, the garden-style community consists of nine buildings, including a clubhouse. Eric Rosenstock and Dan Sacks of Greystone originated the financing on behalf of the borrower, Bayshore Properties. The nonrecourse, fixed-rate loan, which refinances an existing Greystone bridge loan on the property, features a 10-year term, 35-year amortization and five years of interest-only payments. In accordance with Freddie Mac’s Workforce Preservation program, 30 percent of the units at the property are designated for households earning less than 80 percent of the area median income.

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MISHAWAKA, IND. — CBRE has brokered the sale of River Pointe, a 234-unit multifamily property in Mishawka near South Bend. The sales price was undisclosed. Located at 350 Bercado Circle along the St. Joseph River, the community features a range of one-, two- and three-bedroom floor plans averaging 1,054 square feet. The property was built in 1974 and features amenities such as a pool, dog park, fitness center, newly renovated clubhouse, courtyard and riverfront deck. George Tikijian, Hannah Ott, Cam Benz, Clair Hassfurther, Ryan Stockamp and Sean Pingel of CBRE represented the seller, LV Property Management. Monarch Investment and Management was the buyer.

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InterFace I-85 Industrial Corridor panelists

CHARLOTTE, N.C. — Stretching from Alabama to Atlanta, through the Carolinas and into Virginia, the I-85 corridor has long been a backbone of industrial growth in the Southeastern United States. Once celebrated as a magnet for logistic hubs, manufacturing plants and warehouse developments, this valuable category of real estate is now showing signs of strain. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. During the COVID-19 pandemic, industrial real estate, especially warehouses and distribution centers, saw a dramatic surge in demand due to a rise in e-commerce, inventory stockpiling due to supply chain issues and lower interest rates. Fast forward five years later, the industrial market is now experiencing a slowdown due to new pressures that are reversing or slowing down many of those trends. “People are concerned about making a decision today without knowing what’s going to happen tomorrow,” said John Coleman, senior vice president of Graham &. Co. Coleman specializes in representing both tenants and landlords across the Birmingham and Montgomery industrial markets in Alabama. Coleman’s comments came while on stage during the closing panel at InterFace …

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Amazon-Data-Center_N.C

RICHMOND COUNTY, N.C. — Amazon (NASDAQ: AMZN) has announced plans to develop a new, $10 billion cloud computing and artificial intelligence (AI) innovation campus in Richmond County, roughly 80 miles east of Charlotte.  According to the Seattle-based company, this marks one of the largest capital investment announcements in the history of the state.  Upon completion, the campus will house data centers with computer servers, data storage drives, networking equipment and other technology infrastructure used for cloud computing capabilities and generative AI.  The project will be situated at one of the Economic Development Partnership of North Carolina’s Selectsite Readiness Program sites, which are designed to accommodate industries like AI and advanced manufacturing. Specific details about the site and construction timelines were not released. Amazon reports that the investment will create at least 500 new jobs, adding to the more than 192,000 tech professionals already in the state, as well as thousands of jobs in the Amazon Web Services (AWS) data center supply chain.  “Amazon’s $10 billion investment in North Carolina underscores our commitment to driving innovation and advancing the future of cloud computing and AI technologies,” says David Zapolsky, chief global affairs and legal officer with Amazon. “This investment will position North Carolina …

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DALLAS — The evolution of active adult product is in the third inning of a nine-inning game, but some markets are clearly ahead of the curve, says Zach Crowe, managing director of U.S. real estate for private equity giant The Carlyle Group. “There are markets like Dallas, Las Vegas and Denver that have had active adult for 20 years at this point, and the product is well known. The consumer understands what it is. There are other markets with very few properties, and people have no idea what it is. It’s still incredibly early [in the game],” reports Crowe, who is based in Washington, D.C., and focuses on real estate investment opportunities in multifamily, 55+ housing and medical office properties. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. The insights from Crowe came during the CEO panel at the fifth annual InterFace Active Adult conference. The daylong conference, which took place May 7 at The Westin Los Colinas in Dallas, attracted more than 300 industry professionals.  Moderated by Ryan Maconachy, vice chairman of health and alternative assets for Newmark, the …

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WALPOLE, MASS. — JLL has brokered the $26 million sale of an 85,159-square-foot industrial building in Walpole, about 30 miles southwest of Boston. The building at 295 Union St. is home to tenants such as Tesla, Home Depot and Goodyear and features a clear height of 40 feet and 450 car parking spaces. Michael Restivo, David Coffman and Tommy Hovey of JLL represented the sellers, Casco Real Estate Partners and Berkeley Partners, in the transaction. The buyer was San Francisco-based investment firm Stockbridge.

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The last four quarters in the Atlanta industrial market were something akin to a good old-fashioned roller coaster ride at the historic Southeastern Fairgrounds!  The absorption, activity and new construction sectors all went for a somewhat bumpy ride this past year.  What’s happening? First, the quarterly absorption numbers for the Atlanta industrial market have been anything but steady. Eight quarters ago there was 7.9 million square feet of positive net absorption, followed by five negative quarters in a row (totaling 13.2 million square feet), then came two positive quarters (totaling 7 million square feet) and then back down to 2.8 million square feet of negative net absorption for the first quarter of 2025.  The annual absorption numbers were up and down as well. The last four quarters yielded 2.2 million square feet of positive net absorption, but a year ago, at this same time, the absorption numbers plummeted down to a negative 11.3 million square feet. Two years ago, the industrial market experienced 32.5 million square feet of positive net absorption.   Second, the activity numbers also were up and down. The second quarter of 2024 recorded 14.4 million square feet of activity, but that number dropped to 13.6 million …

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