REBusinessOnline

JLL to Acquire Dallas, Houston Operations of Peloton Commercial

DALLAS AND HOUSTON — JLL has entered into an agreement to acquire the Dallas and Houston operations of Peloton Commercial, a leasing and management firm based in Texas. Peloton co-founding partners Joel Pustmueller and T.D. Briggs will join JLL’s Jeff Eckert in leading the integration of the teams. Peloton’s John Myers will assume regional leadership of property management for Dallas-Fort Worth. In May, Cushman & Wakefield acquired the Austin operations of Peloton, which was founded …

Navistar to Open $250M Truck Manufacturing Plant in San Antonio, Create 600 Jobs

SAN ANTONIO — Navistar, an Illinois-based truck and bus manufacturer, will open a $250 million plant in San Antonio, a move that is expected to create about 600 new jobs. The site is located along Interstate 35 and links the company’s supply bases in Mexico and the United States. Construction is slated to begin later this year, and the facility is expected to be operational within 24 months of the groundbreaking. JLL handled the site selection process for Navistar, which also recently …

Equus Capital Buys 299,898 SF Office Complex in Plano

PLANO, TEXAS — Pennsylvania-based investment firm Equus Capital Partners Ltd. has purchased Legacy Place, a two-building office complex totaling 299,898 square feet in the northeastern Dallas suburb of Plano. Both six-story buildings were built in the late 1990s and are situated on a 15.3-acre site along Tennyson Parkway. Equus Capital will undertake a multimillion-dollar repositioning program that will deliver an enhanced outdoor patio and collaboration area, upgraded lobby, expanded fitness …

CBRE Negotiates Sale of 174,181 SF Grocery-Anchored Retail Center in Houston

HOUSTON — CBRE has negotiated the sale of Northbrook Shopping Center, a 174,181-square-foot retail property located along U.S. Highway 290 in Houston. El Rancho Supermarket anchors the center, which was approximately 97 percent occupied at the time of sale. Chris Cozby, Jim Batjer and Blaine Dozier of CBRE represented the seller, Weingarten Realty, in the transaction. Wu Family Trust purchased the asset for an undisclosed

Ready Capital Provides Acquisition Loan for 248-Unit Apartment Community in Houston

HOUSTON — Ready Capital Structured Finance has provided an undisclosed amount of acquisition financing for a 248-unit apartment community in Houston. A portion of the nonrecourse loan, which carries a floating interest rate and a 36-month term with two extension options, will be used to fund capital expenditures and stabilize the Class C property. The borrower and property name were not

Case Study: Dallas vs. Houston Industrial

The Dallas-Fort Worth (DFW) and Houston metro areas have vastly different opportunities and challenges in terms of commercial real estate. Yet this year both have both landed in the top five in the nation for industrial development. Driven by strong population and job growth, DFW and Houston don’t expect their industrial expansions to slow down any time soon. At the end of the second quarter, DFW was No. 2 in the country in industrial development behind California’s Inland Empire, with …

SWBC Begins Construction on 271-Unit Apartment Project in McKinney, Texas

MCKINNEY, TEXAS — Multifamily developer SWBC has begun construction on Phase II of The Royalton at Craig Ranch, a 271-unit project that will be located within the Craig Ranch master-planned community in McKinney. Floor plans will consist of one-, two- and three-bedroom units that feature granite countertops, stainless steel appliances and individual washer and dryer connections. Amenities will include a pool, clubhouse, 24-hour fitness center and outdoor grilling areas. Cross Architects is …

Greystone Provides $27M Bridge Loan for Houston Multifamily Asset

HOUSTON — Greystone has provided a $27 million bridge loan for the acquisition of Villa Nueva Apartments, a 542-unit multifamily asset in Houston. Built in 1980, the property features of one- and two-bedroom units and amenities such as three pools and onsite laundry facilities. Daniel Wolins of Greystone originated the interest-only loan, which carries a two-year term and two six-month extension options, on behalf of the borrower, Iliad Realty Group. Sal Torre of Estreich & Co. arranged …

Marcus & Millichap Arranges Sale of 209-Unit Self-Storage Facility in Fort Worth

FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale of A Plus Boat Club, a 209-unit self-storage facility in Fort Worth. Built in 1990, the property spans 60,856 net rentable square feet and features non-climate-controlled units ranging in size from 200 to 352 square feet. Brandon Karr and Danny Cunningham of Marcus & Millichap represented the seller, a locally based partnership, in the transaction. The duo also procured the buyer, Spartan Investment Group, a self-storage …

EMCID to Build 30,000 SF Office Building in Metro Houston

NEW CANEY, TEXAS — The East Montgomery County Improvement District (EMCID) will develop a 30,000-square-foot office building in New Caney, a northeastern suburb of Houston. The property will be located within a 500-acre industrial park that the county owns. The development team, which received a $1.5 million grant for the project from the U.S. Department of Commerce, hopes to break ground by October and finish construction within six months. A general contractor has not yet been

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