REBusinessOnline

Brandywine to Develop 250,000 SF Office Building in Austin

AUSTIN, TEXAS — Brandywine Realty Trust, a Philadelphia-based REIT, has signed a development agreement to develop a 250,000-square-foot office building at the Garza Ranch mixed-use development in Austin. A timeline for construction has not yet been established. At full build-out, Garza Ranch will consist of 400,000 square feet of office space, 370 multifamily units and a 140-room Aloft hotel, according to the Austin

Cruising Kitchens to Open 61,000 SF Production Facility in San Antonio

SAN ANTONIO — Cruising Kitchens, a fabricator of food trucks and mobile offices, will open a 61,000-square-foot production facility in San Antonio on May 18. The facility will be located at 2100 Mannix Drive near the San Antonio International Airport on the city’s north side, and will include an interactive lobby, viewing windows and a

Toasted Yolk Café to Open Two More Restaurants in Houston Area

HOUSTON AND SUGAR LAND, TEXAS — Breakfast chain The Toasted Yolk Café will open two additional restaurants in the Houston area, including a 5,000-square-foot restaurant in the Galleria area of Houston and a 5,954-square-foot restaurant in the southwestern suburb of Sugar Land. The Toasted Yolk will have seven locations in Houston following the opening of these venues, both of which are slated for August. Paul Vernon of Henry S. Miller Brokerage Co. represented The Toasted Yolk in the lease …

RPAI Secures Two New Retail Leases at Huebner Oaks in San Antonio

SAN ANTONIO — Retail Properties of America Inc. (RPAI) has secured two new retail leases totaling 7,300 square feet at Huebner Oaks, a 285,000-square-foot, open-air shopping destination in San Antonio. Jeweler James Avery will open a 6,100-square-foot store and francesca’s, a women’s clothing and accessories retailer, will open a 1,200-square-foot store. The stores are scheduled to open in the summer of 2018 and early 2019,

GroundFloor Breaks Ground on $120M Mixed-Use Development in Austin

AUSTIN — GroundFloor Development has broken ground on St. Elmo Public Market, a mixed-use development in Austin that is valued at approximately $120 million, according to the Austin American-Statesman. Project features include a 40,000-square-foot public market, 103,380 square feet of office space, 380 apartment units and a 156-room hotel. The development, which is situated on a 12.5-acre site at 4329 S. Congress Ave. on the city’s south side, is expected to open in May

Northwood Begins Renovation of 169,229 SF Shopping Center in Dallas

DALLAS — Northwood Retail, an affiliate of national investment advisory firm Northwood Investors, has begun the renovation of Hillside Village, a 169,229-square-foot shopping center in Dallas. Northwood is upgrading the facades, lighting and roofs of the spaces, as well as delivering a new parking and sidewalk system. The renovation project expected to be complete by year’s end. New tenants joining the property, which was built in 1954, include Session Pilates, Villa Nail Spa and Hillside …

Pensam Residential Acquires 306-Unit Apartment Community in San Antonio

SAN ANTONIO — Pensam Residential has acquired leasehold interests in The Kennedy, a 306-unit apartment community located within the 1,300-acre Brooks City-Base master-planned community in San Antonio. Built in 2017, the property offers one- and two-bedroom units and amenities such as a pool, fitness center, café, pet park and an outdoor grilling area. The seller and sales price were not disclosed. With this acquisition, Pensam now has investment interests in seven multifamily assets in the …

Flower Mound City Council Approves 120,000 SF Spec Office Project

FLOWER MOUND, TEXAS — The Flower Mound City Council has approved an agreement with FM 2499 Office Venture LLC, an affiliate of Irving-based Realty Capital, to develop a 120,000-square-foot speculative office building in the northern Dallas suburb. The city will commit $25 million to the four-story, Class A project, which has a target completion date of late 2022. The project will include the development of a 480-space parking

LMI Capital Arranges $9.5M Acquisition Financing for Three Houston-Area Apartment, Office Assets

HOUSTON — LMI Capital has closed three acquisition loans totaling $9.5 million for two apartment communities and one office building located throughout the greater Houston area. The properties include a 65-unit apartment asset in Galveston County, an 80-unit apartment community in the Spring Branch submarket and a 23,000-square-foot office building located near The Woodlands. Kurt Dennis of LMI Capital placed the loans for the Galveston and Woodlands properties and Jamie Mullin of LMI Capital …

Industrial Vacancy Tightens in El Paso Despite Heavy Construction

Trade and politics are nothing new for El Paso, Texas and its sister city Ciudad (Cd.) Juarez, Mexico. The history of the region is rooted in the interrelationship between two countries, three states and a trading route that originally ran from Mexico City to Santa Fe along the Camino Real. [caption id="attachment_200632" align="alignright" width="100"] Christian Perez Giese, CBRE[/caption] Today, international trade and political fights from elsewhere still have a considerable influence …