Property Type

The-Trailhead-at-Chisholm-Trail

FORT WORTH, TEXAS — A partnership between Titan Development and Dallas-based investment firm Aberg Property Co. has completed The Trailhead at Chisholm Trail Ranch, a $63 million multifamily project in South Fort Worth. The 284-unit development is situated within the 625-acre Chisholm Trail Ranch master-planned community. Units are spread across seven buildings and come in studio, one-, two- and three-bedroom formats. Amenities include a pool, dog park and a pickleball court. HEDK Architects designed the project, and Cerris Builders served as the general contractor. Construction began in summer 2022 and topped out in winter 2023. Rents start at roughly $1,200 per month for a studio apartment.

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Far-West-Apartments-Austin

AUSTIN, TEXAS — JLL has arranged a construction loan of an undisclosed amount for Far West Apartments, a 321-unit multifamily project in Austin. The site is located within the Northwest Hills submarket, and the development will offer one-, two- and three-bedroom units with an average size of 800 square feet. Amenities will include a pool, fitness center, clubhouse, pet spa and a conference room. Doug Opalka, C.W. Sheehan and Samantha Jay of JLL arranged the 10-year, floating-rate loan through Poppy Bank on behalf of the borrower, Central Southwest Texas Development. Completion is slated for spring 2027.

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FORT WORTH, TEXAS — Bradford Commercial Real Estate Services has arranged the sale of McMillan Center, a three-building, 137,083-square-foot industrial complex in North Fort Worth. The property formerly served as a Coors distribution center and comprises a 115,078-square-foot main building, 12,544-square-foot office building and a 9,362-square-foot maintenance facility. Shane Benner of Bradford represented the buyer, Ron Sturgeon Real Estate, which will relocate from Haltom City and occupy the property, in the off-market deal. Todd Hawpe of Transwestern represented the seller.  

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SAN MARCOS, TEXAS — Colliers has negotiated a 31,760-square-foot industrial lease in San Marcos, located roughly midway between Austin and San Antonio. The tenant, Ohio-based supplier OTC Industrial Technologies, is taking space at Clovis Crossing, a newly constructed development that comprises two buildings totaling 213,125 square feet. Shane Woloshan, Nolan Babb, Travis Hicks, Chase Clancy and Michael Modesett of Colliers represented the tenant in the lease negotiations. Carter Thurmond, Nash Frisbie and Bailey Sousa of Transwestern represented the landlord, New Jersey-based Denholtz Properties.

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PLANO, TEXAS — The Chicago School of Psychology has signed an 18,566-square-foot office lease in Plano. The space is located within the five-story building at 6275 W. Plano Parkway that offers amenities such as a fitness center, conference facilities and onsite café. Trevor Franke and Gini Rounsaville of JLL represented the landlord, Billingsley Co., in the lease negotiations. Dean Collins of Cushman & Wakefield represented the tenant.

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Mission-Gorge-Apts-San-Diego-CA

SAN DIEGO — Impact Housing and Verbena Road Holdings have received $112.2 million in financing for Mission Gorge, a modular affordable housing development in San Diego. Charles Halladay, Joseph Choi and Will Bond of JLL Capital Market’s Debt Advisory team secured an $85.2 million, three-year, floating-rate senior construction loan through ACORE CAPITAL, as well as $27 million in preferred equity from Ascendant Capital Partners for the borrower. Located at 6171 Mission Gorge Road, Mission Gorge will feature 483 studio and one-bedroom units for residents earning at or below 80 percent of the area median income. The apartments will offer quartz countertops, appliances, wall dividers with built-in storage and recessed lighting with dimmer switches. Community amenities will include laundry facilities, lounge space, a 4,150-square-foot roof deck, a fully equipped fitness center, coworking space and ground-floor retail space.

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320-McCloy-Ave-Stockton-CA

STOCKTON, CALIF. — Trammell Crow Co., in a joint venture with Realty Income Corp., has broken ground on an industrial build-to-suit facility in Stockton for The Home Depot. Located at 320 McCloy Ave., the 655,200-square-foot property is slated for delivery in 2026. MacGregor Associates is the architect of record and Arch-Con Corp. is serving as the general contractor. Tyson Vallenari of Cushman & Wakefield and Tom Davis of CBRE represented the Port of Stockton and Trammell Crow Co., respectively, in the ground lease.

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501-Gateway-Phoenix-AZ

PHOENIX — Cushman & Wakefield has arranged the sale of 501 Gateway, a four-story office building located at 501 N. 44th St. in Phoenix. An undisclosed full service real estate solutions firm sold the asset to 501 Gateway Center LLC for $18 million. The property features 102,305 square feet of multi-tenant office space, a four-story parking garage, flexible floor plates, an onsite café and immediate freeway, airport and light rail access. At the time of sale, the building was 82 percent leased. The building, which was originally constructed in 1997, has been upgraded to a modern office asset. Eric Wichterman, Chris Toci and Mike Coover of Cushman & Wakefield in Phoenix represented the seller in the transaction.

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MERIDIAN, IDAHO — MJW Investments has purchased Verraso Village, a Class A build-to-rent townhome community in Meridian, from an undisclosed seller in an off-market transaction. Built in two phases in 2016 and 2018, Verraso Village offers 96 two-level homes that average 1,840 square feet with attached two-car garages. Ninety-five percent of the units are three-bedroom and 3.5-baths and each townhome offers an individualized exterior façade. The acquisition marks MJW’s first entry into the Boise MSA. The company acquired the asset with a moderately low-leveraged agency loan assumption with 3.2 percent fixed-rate financing and more than five years remaining on the loan term.

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403-N-Levee-Rd-Pullayup-WA

PUYALLUP, WASH. — PCBP Properties Inc. has acquired an industrial property located at 403 N. Levee Road in Pullayup for $12.5 million. Brett Hartzell, Paige Morgan and Andrew Stark of CBRE National Partners West represented the undisclosed seller in the deal. The 80,150-square-foot last-mile manufacturing and logistics facility is located 15 minutes from the Port of Tacoma, Washington, and 35 minutes from downtown Seattle. The property has undergone recent renovations, including roof repairs, exterior painting, asphalt, landscaping and updates to the office space with new carpet and paint. The property is fully insulated and features 21 trailer stalls, eight dock-high and three grade-level doors.

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