The latest commercial real estate news and developments.
JLL Capital Markets has successfully facilitated the sale of The Legacy, a sprawling 353,000-square-foot lifestyle center in San Antonio. The high-profile transaction underscores ongoing investor interest in large-format, experiential retail assets in high-growth Texas metros.
A newly constructed, corporate-guaranteed Mister Car Wash in Kemah, Texas, has traded hands for $5.4 million, highlighting sustained investor appetite for service-oriented, single-tenant net leased retail. The deal underscores the premium placed on recently built assets backed by publicly traded tenants in the greater Houston metropolitan area.
An 83,000-square-foot retail development in West Houston has secured $8 million in C-PACE financing to fund major sustainability improvements. Ashford Beer Garden will anchor the newly upgraded Ashford Yard project, reflecting a broader push for green construction financing in commercial real estate.
Walmart has secured full ownership of a 507,000-square-foot temperature-controlled distribution center in Riverside, California, for $223 million. The acquisition transitions the property from a long-term lease agreement into a permanent owned asset for the retailer's supply chain network.
Tratt Properties has purchased a massive 1.6 million-square-foot fulfillment center in Cookeville, Tennessee, for $140 million from Middleton Partners. The Colliers-brokered deal highlights the continued institutional demand for single-tenant industrial assets in growing secondary logistics markets.
Netherlands-based Breevest has secured the newly built Avida Aventura apartment complex for $110 million, signaling continued European appetite for South Florida multifamily assets. The 266-unit property sits directly across from the 1.8-million-square-foot Aventura Mall in Miami-Dade County.
Peachtree Group has originated a $32.36 million construction loan to fund a 154-room AC Hotel by Marriott in Huntsville, Alabama. The financing will enable Spandrel Development Partners to build the new hospitality asset within the city's premier retail and mixed-use lifestyle center.
Gersh Autism Academy has secured a 21,000-square-foot sublease at 452 College Avenue in the Bronx, taking over space from consolidating charter school operator Seton Education Partners. The deal highlights growing demand for specialized educational facilities in outer-borough neighborhoods.
New York investment firm AV Management has expanded its portfolio with the $43.3 million acquisition of a newly developed mixed-use property in Manhattan's coveted SoHo neighborhood, backed by $21.6 million in acquisition financing.
Architecture and interior design firm GKV Architects is moving its operations to Midtown East, securing a 5,754-square-foot space in a recently acquired AmTrustRE property. The lease on the 14th floor of 360 Lexington Avenue highlights an ongoing trend of creative industry tenants gravitating toward the Grand Central submarket.
With Manhattan's overall premium office supply shrinking to near-record lows, Hudson Square's 19.4% availability rate has transformed from a liability into a competitive edge. The Midtown South submarket is emerging as a primary destination for tenants seeking quality space in an increasingly constrained market.
Marcus & Millichap has signed a lease expansion and extension at AmTrustRE’s 260 Madison Avenue, growing its footprint to 41,000 square feet. The deal signals sustained demand from real estate services firms for Class A space near Manhattan's Grand Central Terminal.