Category: Deals & Announcements

Newmark Signs +45,000-SF Two-Floor Lease at The Link at Uptown in Dallas

Posted on by Sarah

Newmark announces its new office lease at newly built, 25-story trophy office tower, The Link at Uptown (“The Link”) in Dallas. The new office space—which will span +/-46,338 square feet and occupy the 16th and 15th floors—will combine three area Newmark offices into one, creating a cohesive workspace. Newmark’s space will be fully built out in the fourth quarter of 2022.

“Our goal was to bring together Newmark’s talented DFW area professionals under one roof in a compelling and cutting-edge space—a workplace that evokes culture, energy and collaboration and simply is better than working from home,” said Newmark Executive Vice President and Texas Market Leader Ran Holman. “The new space will be a showcase for the best-of-the-best in commercial real estate—with top-tier workplace and property amenities to continue to attract and retain the region’s most talented professionals.”

Sale & Financing of 210-Unit Multifamily Property in Austin

Posted on by Sarah

Newmark has completed the sale and financing of The Sofia Apartments, a 210-unit value-add multifamily property located minutes from downtown Austin, Texas. The property traded from Dallas-based Lion Real Estate Group and Los Angeles-based Marble Partners Management, LLC to New York-based investment firm RockFarmer Properties. Newmark Senior Managing Director Jim Young and Director Chase Easley represented the seller in the transaction. Newmark Vice Chairman Matt Greer and Vice President Andrew Wilson helped arrange the financing from lender Bridge Investment Group on behalf of the buyer.

“The Sofia’s excellent location minutes from downtown Austin in the fast-growing East Riverside district presented investors with a value-add opportunity that was attractive to both institutional and private buyers alike,” said Young. “The asset’s proximity to major employers, including the Oracle and Tesla headquarters, positions The Sofia as a desirable alternative to more expensive downtown living options.”

Apple Co-Founder Steve Wozniak Headlining Stream Realty Event

Posted on by Sarah

DALLAS – May 12, 2022 – Stream Realty Partners has attained an American pioneer of personal computing to serve as its keynote speaker at an exclusive event in an iconic Dallas hotel.

Stream, a national real estate services, development, and investment company, will welcome Apple Co-Founder Steve Wozniak today for its Central State of the Market at The Statler. The private event will bring together more than 400 of the firm’s clients–from investors and commercial real estate executives to occupiers of Stream’s industrial and office properties–for panel discussions and networking. Stream’s Central Region includes Austin, Chicago, Dallas, Fort Worth, Houston, and San Antonio. Wozniak, also the Co-Founder of Efforce and Woz U, is expected to provide his perspective on the implications technology has on the commercial real estate industry today. Technological advancements such as the metaverse, machine learning, and artificial intelligence can offer the best opportunities for the next groundbreaking disruption, and the leading innovator will provide his insight on how organizations can keep up with the rapid pace of changing technology. He will open his address with personal stories of how he met the late Apple Co-Founder Steve Jobs, the biggest myth regarding their relationship, and some of the challenges he faced early in his career.

The philanthropist’s speech will follow two panel discussions involving some of Stream’s top office and industrial professionals. · “The Evolving State of Office,” moderated by Managing Director and Partner Ramsey March, will feature panelists Rachel Coulter, Managing Director of Austin Leasing; Matt Wieser, Executive Vice President of Dallas Leasing; Randy Cooper, Vice Chairman of Dallas’ Office Tenant Representation Division; Jack McKinney Jr., Managing Director of Chicago Leasing; and Connor Greissing, Managing Director and Partner of Austin’s Tenant Representation Group.

· “The Industrial Revolution Continues,” moderated by Executive Managing Director and Partner of Stream’s Industrial Capital Markets Group Seth Koschak, will feature panelists Matt Dornak, Managing Director of Dallas/Fort Worth’s Industrial Division; Matteson Hamilton, Executive Managing Director and Partner of Industrial Capital Markets Group; Sam Owen, Managing Director and Partner of the Austin Industrial Division; and Sarah Ozanne, Senior Vice President of Dallas’ Industrial Division. Stream San Antonio Executive Managing Director and Partner Carolyn Shaw will kick off the invitation-only event, with newly appointed Chief Operating Officer Blake Kendrick providing closing remarks. While the event is not open to the public or media, Stream’s LinkedIn page will carry updates on Thursday, recaps on Friday, and additional content in the following weeks.

Pack it up! Chicagoland Claims Top Rankings for Most Affordable Suburbs

Posted on by Sarah

Suburbia has always been appealing, but the migration away from city living is maintaining momentum for a variety of reasons.

Many who made the choice to move away from city living at the onset of COVID-19 have come to prefer the relaxed atmosphere and lower-density neighborhoods to the hustle and bustle of a hub like Chicago.

But these luxuries come at a price. One might think suburban living is cost-conscious, but in some areas, it was found to be just the opposite — especially if you’re looking to settle in a suburb with premium housing, safe neighborhoods and a variety of shopping and dining options.

To find the most affordable premier spots, StorageCafe ranked suburbs nationwide. And Chicago’s suburbs? They stole the spotlight.

The Midwest is home to some of the most neighborly communities in the U.S., and its cost of living is friendlier than many locations, according to the report. Crystal Lake among the most affordable places, and rents for storage units make relocating even more appealing at around $100/month. This is much lower than in Chicago.

Algonquin, Elk Grove Village, Bloomingdale, Vernon Hills and Buffalo Grove are a few more Illinois names that made the list. Residents find these cities especially attractive because of the many outdoor recreation opportunities that aren’t as easily accessible in Chicago.

Wisconsin and Minnesota also have a few cities on the list, including of Pewaukee and Brookfield for Milwaukee and Rogers for Minneapolis.

Aside from the Midwest, the South is another sought-after region due to its affordability compared to places like California and New York. Homes in Dallas’ Southlake are nearly one-third of the price of those of comparable size in LA’s Laguna Beach — $1.1 million to $3 million.

Illinois and Texas, though, are no longer a best-kept secret and are in high demand because of their relative affordability and strong employment sectors, according to StorageCafe. California to Texas, for example, is one of the busiest relocation routes in the U.S., and 190 Californians are trading their Louis for Lucchese per day.

The preference of suburbs to cities is strong nationwide. According to StorageCafe, Pew Research Center found that Americans who prefer suburban living saw an increase from 42% to 46% over the last three years.

Because of the continued influx, the now-attractive prices might not stay attractive for long.