MIDLOTHIAN, TEXAS — Marcus & Millichap has brokered the sale of Lakeridge Self Storage, a 564-unit facility located in the southern Dallas suburb of Midlothian. The property, which totals 59,517 net rentable square feet, was built in 2005 and expanded by roughly 20 percent in recent years. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller, a locally based private investor, in the deal. The duo also procured the buyer, an Austin-based investment group that plans to renovate the facility.
HOUSTON — CBRE has negotiated a 273,480-square-foot industrial lease within Beltway 35 Business Park in southeast Houston. The tenant, global shipping and logistics firm Wallenius Wilhelmsen, is taking space at Building 2, a cross-dock facility that features 48 dock doors and parking for 245 cars and 72 trailers. Quinten Davis and Hoan Le of CBRE represented the tenant in the lease negotiations. JLL represented the landlord, Greystar Real Estate Partners.
AUSTIN, TEXAS — California-based investment firm KBS has sold SouthTech Business Center, a 260,112-square-foot light industrial property in South Austin. SouthTech Business Center consists of four buildings on a 20.2-acre site. Each building features 21-foot clear heights and 145-foot truck court depths. Trent Agnew, Charles Strauss, Lance Young and Brooke Petzold of JLL represented KBS in the transaction. MIG Real Estate represented the buyer, an undisclosed 1031 exchange investor. The property was 93 percent leased at the time of sale.
ARGYLE, TEXAS — Storage King USA, the self-storage arm of New York City-based investment firm Andover Properties, has completed a 232-unit expansion of its facility in Argyle, located in Denton County. The project added 38,500 net rentable square feet of climate-controlled and non-climate-controlled space, as well as 5,750 square feet of flex space. The facility, which also offers enclosed and covered storage options for boats and RVs, now totals 865 units.
HOUSTON — Locally based brokerage firm Oxford Partners has arranged a 32,000-square-foot industrial sublease in northwest Houston. According to LoopNet Inc., the property at 5910 North by Northwest Blvd. was built in 1998 and totals 96,000 square feet. Austen Buckalew and Matt Rogers of Oxford Partners represented the tenant, SiYi America Hardware LLC, in the lease negotiations. The name and representative of the landlord were not disclosed.
FRISCO, TEXAS — A partnership between Fort Worth-based Wilks Development and the Frisco Economic Development Corp. has unveiled plans for Firefly Park, a 242-acre mixed-use project that will be located on the northern outskirts of Dallas. The site at the intersection of U.S. Highway 380 and the Dallas North Tollway sits at the gateway to the PGA of America’s headquarters campus. Preliminary plans call for 3 million square feet of Class A office space, 400,000 square feet of upscale retail, dining and entertainment space, 1,200 hotel rooms, 230 townhomes and 1,970 mid-rise and high-rise residential units. Firefly Park will also feature a 45-acre park with multiple lakes, hiking trails, public art installations and family-friendly amenities. The first phase of the development will center on construction of the Dream Hotel, 650,000 square feet of Class A offices, upscale dining and shopping space and the 45-acre park. Construction is scheduled to begin in the coming days, with a formal groundbreaking ceremony to take place in late June.
HOUSTON — A joint venture between locally based developer Vigavi and Principal Asset Management has broken ground on Westport 45, a 728,080-square-foot industrial project in North Houston. The 42-acre site at 410 West Road is located near the intersection of I-45 and Beltway 8, and the development will feature 40-foot clear heights, speculative office space and 180 trailer parking stalls. Seeberger Architecture is designing the project, and Angler Construction is serving as the general contractor. JLL will market the property for lease. Delivery is slated for early 2025.
BURLESON, TEXAS — Locally based developer Realty Capital Residential has completed Depot on Main, a 275-unit multifamily project in Burleson, located south of Fort Worth. The five-story building is situated adjacent to the city’s Old Town district at 125 N. Main St. Depot on Main offers one- and two-bedroom units ranging in size from 590 to 1,229 square feet. Amenities include a pool with a tanning deck, coworking lounge, coffee bar, rooftop deck and entertainment terrace, dog park, fitness center and outdoor grilling and dining areas. Monthly rental rates range from $1,325 to $2,260, according to Apartments.com. Merriman Anderson Architects designed the project.
SAN ANTONIO — Texas-based restaurant operator Emmer & Rye Hospitality Group has debuted Pullman Market, a 40,000-square-foot food hall within San Antonio’s Pearl District. The culinary destination features four full-service restaurants, fast-casual concepts, an artisan butcher and fishmonger program, various wine and beer selections, Texas-based produce and specialty foods, a seasonal bakery and a fresh pasta program. The four restaurants include Italian concept Fife & Farro, Mexican eatery Mezquite, fine-dining establishment Isidore and dessert bar Nicosi.
KATY, TEXAS — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 78-unit seniors housing property in the western Houston suburb of Katy. Opened in 2018, the unnamed property consists of 70 short-term rehab beds and 34 assisted living beds across 78 units. The seller was a privately held investment and development firm. Ignite Medical Resorts acquired the property for an undisclosed price. Amy Sitzman, Michael Segal and Giancarlo Riso of Blueprint brokered the deal.
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