Lionstone Investments has sold Muse Shops at Midtown, a 112,162-square-foot value-add retail center located in Dallas. Morgan Stanley purchased the recently redeveloped asset, according to public records. JLL Capital Markets brokered the transaction on behalf of the seller. Muse Shops at Midtown underwent cosmetic renovations in 2022. Image courtesy of JLL Capital Markets The property was subject to a $59.2 million loan originated by First United Bank & Trust back in 2018 and was set to mature in 2023, according to CommercialEdge data. Spread on 7.5 acres, the four-building shopping center ..read more

Echo Park 303 is a 40-acre, two-building industrial campus within the Loop 303 corridor. Image courtesy of LGE Design Build Echo Real Estate Capital has completed Echo Park 303, a 676,176-square-foot, two-building industrial park in Glendale, Ariz. JLL is in charge of leasing. LGE Design Build served as general contractor. Last year, Echo obtained a $53.6 million construction loan for the development, which broke ground in September 2022. Pacific Coast Partners provided the funds. The property is within the Loop 303 corridor. Building A, measuring 220,240 square feet, is fully leased to HubSta ..read more

Perkins + Will designed the 368,258-square-foot Science Square Labs. Image courtesy of Trammell Crow Co. Trammell Crow Co., in partnership with Georgia Advanced Technology Ventures, an affiliate of the Georgia Institute of Technology, has completed the first phase of Science Square, a life science district in Atlanta. The 18-acre project is adjacent to Georgia Tech’s Midtown campus. The first phase of the mixed-use development includes Science Square Labs, a 368,258-square-foot life science building, and The Grace, a 280-unit residential community. High Street Residential, a TCC subsidiary, de ..read more

EQT Exeter will rebrand the 641,906-square-foot facility as I-10 Gateway. Image courtesy of Cushman & Wakefield EQT Exeter has acquired a 641,906-square-foot industrial facility in Buckeye, Ariz., for $60.1 million. It will rebrand the asset as I-10 Gateway. Developer BET Investments sold the vacant property. The divisible building represents the first phase of Buckeye I-10 Logistics, a 145-acre master-planned park. BET Investments received city approvals last year for the development of an additional facility of nearly 1.2 million square feet. A third building, measuring 448,913 square fe ..read more

Wilks Development is set to break ground this month on the $550 million first phase of Firefly Park, a 242-acre mixed-use master-planned community in Frisco, Texas. Construction on Phase One is expected to be completed by mid-2027. A rendering of the town square planned for Firefly Park in Frisco, Texas. Image courtesy of Wilks Development The Fort Worth, Texas,-based real estate and development company signed a development agreement with Frisco Economic Development Corp. to launch the first phase of the project located at the intersection of US 380 and Dallas North Tollway along PGA Parkway ..read more

The building at 1520 First Ave. rises 30 stories or 449 feet. Rendering courtesy of Lendlease The joint venture of Lendlease and Extell Development Co. has topped out 1520 First Ave., a 400,000-square-foot medical office building in Manhattan. The 30-story tower is slated for completion in 2025. Perkins Eastman designed the project and WSP serves as structural engineer. The developers financed the construction of the medical office project with a $118.2 million loan from Landesbank Hessen-Thüringen, originated in 2021, as well as a $54.8 million loan provided by Harbor Group International in 2 ..read more

Values shown are average by property type. As of April 8, 2024. Source: S&P Global Market Intelligence As of April 8, 2024 publicly traded U.S. equity REITs posted a one-year average dividend yield of 4.15 percent. The office REIT sector recorded the highest one-year average dividend yield among this group, at 5.53 percent, outperforming the broader Dow Jones Equity All REIT Index by 1.38 percentage points. The 10-Year T-Note outperformed the industrial REIT sector by 116 basis points. The industrial REIT sector also logged the lowest dividend yield with 2.95 percent. —Saima Yasmin is an A ..read more

Post Oak Logistics Park is now 31 percent preleased. Image courtesy of Jackson-Shaw Jackson-Shaw has secured a full-building lease at its Post Oak Logistics Park, a two-building industrial project totaling 536,992 square feet in Houston. Festival Trading Co. is the tenant and will occupy the 168,893-square-foot Building A, committing to the space for 10 years, according to Harris County public records. Other partners at the project include an affiliate of Greystar Real Estate Partners as equity partner, Rosenberg Construction as general contractor, WGA as civil engineer and Powers Brown as arc ..read more

Chicago’s industrial market had a strong start this year, recording the largest sales volume across Midwestern markets and the second-largest nationwide year-to-date through February. Below, we’ve compiled CommercialEdge data for a current overview of the Windy City’s industrial market performance. The warehouse at 609 S. Kirk Road encompasses nearly 505,000 square feet. Image courtesy of Venture One Benefiting from its central location, robust rail and airport systems, Chicago is becoming an ideal hub for freight consolidation, distribution and cross-docking services ..read more

Suburban areas are experiencing a boom. Over the last year, CommercialEdge observed a rise in flex space, reaching 124.8 million square feet from 113.5 million. San Francisco leads nation in office occupancy losses. Image by Jason Doiy via iStockphoto.com Suburban markets accounted for nearly all this expansion, with a notable increase of almost 9 million square feet of coworking space, compared to a marginal 400,000 square feet in urban regions. As a result, the suburban share of national flex space has jumped to 47 percent, nearly equal to its urban counterpart, which amounts to 48 percent ..read more