Texas

Rubenstein Partners Underway on Redevelopment of 27-Acre Former PepsiCo Office Campus in Plano

by Taylor Williams September 29, 2023

DALLAS — Rubenstein Partners is underway on the redevelopment of the 27-acre former PepsiCo office campus in Plano. The Philadelphia-based developer is currently renovating the 250,000-square-foot building at 5600 Technology Drive, which the company purchased in 2022. Capital improvements include a new lobby and entryway, along with a new tenant lounge, coffee bar and fitness center. Exterior improvements include a new façade with enhanced landscaping, as well as the addition of outdoor seating areas and pickleball courts. Dallas-based GFF is overseeing the design of the project, which is expected to be complete by the end of the year.

September 29, 2023

Development Multifamily Seniors Housing Texas

Tradition Senior Living Completes 297-Unit Project in Fort Worth

by Taylor Williams September 29, 2023

FORT WORTH, TEXAS — Developer and operator Tradition Senior Living has completed construction on a 297-unit project within the 270-acre Clearfork mixed-use development in Fort Worth. The Tradition-Clearfork offers 214 independent living residences and 95 assisted living and memory care units. Residences come in one- and two-bedroom formats and range in size from 880 to 2,200 square feet. Residents have access to 24-hour concierge and valet services, secure parking and transportation options. Common areas include lounges, card rooms, a movie theater, fitness center, pool and other spaces for daily social activities and wellness programs. Jackson & Ryan Architects designed the project, and Rogers-O’Brien Construction served as general contractor.

September 29, 2023

Acquisitions Multifamily Texas

SPI Advisory Acquires 164-Unit Riverbend Apartments in New Braunfels, Texas

by Taylor Williams September 29, 2023

NEW BRAUNFELS, TEXAS — Texas-based private equity firm SPI Advisory has acquired Hawthorne Riverside, a 164-unit multifamily complex in New Braunfels, a northwestern suburb of San Antonio. Built in 1995, the property offers one- and two-bedroom units and amenities such as a pool, fitness center, volleyball court, cybercafé, pet park, resident clubhouse, business center and outdoor grilling and dining stations. SPI Advisory plans to implement a value-add program and rebrand the property as Riverbend Apartments. The seller and sales price were not disclosed.

September 29, 2023

Loans Multifamily Seniors Housing Texas

Lument Provides $13.4M Agency Loan for Refinancing of Seniors Housing Complex in Metro Houston

by Taylor Williams September 29, 2023

HUMBLE, TEXAS — New York City-based Lument has provided a $13.4 million Fannie Mae loan for the refinancing of The Fordham at Eagle Springs, a 137-unit seniors housing complex in Humble, a northern suburb of Houston. The six-building, age-restricted community was built in 2020 within the Eagle Springs master-planned development and offers a pool, salon and a coffee bar. Tom Dixon of Lument originated the financing, which was structured with a 10-year term (four years of which are interest-only), fixed interest rate and a 30-year amortization schedule. The borrower was not disclosed.

September 29, 2023

Leasing Activity Office Texas

Tower Street Insurance Signs 19,399 SF Office Lease Expansion in North Dallas

by Taylor Williams September 29, 2023

DALLAS — Tower Street Insurance has signed a 19,399-square-foot office lease expansion at Providence Towers, a 524,143-square-foot complex in North Dallas. The tenant is expanding from 5,000 to 24,399 square feet at the property, which is currently undergoing a multimillion-dollar capital improvement program. Kim Brooks, Justin Miller, Scott Walker and Laney Delin of Transwestern represented the landlord, California-based investment firm KBS, in the lease negotiations. Michael Griffin of Transwestern represented the tenant.

September 29, 2023

Development Multifamily Texas

Midway Begins Leasing 359-Unit Apartment Community at East River in Houston

by Taylor Williams September 28, 2023

HOUSTON — Midway has begun leasing The Laura, a 359-unit multifamily project that is part of the Houston-based developer’s initial phase of the 150-acre East River development in Houston’s Historic Fifth Ward. Designed by Munoz + Albin with EDI International as the architect of record, The Laura features studio, one- and two-bedroom apartments that range in size from 431 to 1,432 square feet. Amenities include a fitness center, dog park, pool, grilling stations, outdoor yoga space and a lawn for games and passive recreation. OHT Partners served as the general contractor for the project. The first move-ins will begin in December. Phase I of East River also includes 250,000 square feet of office space and 110,000 square feet of retail and restaurant space. Rents start at $1,600 per month for a studio.

September 28, 2023

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 490-Unit Self-Storage Facility in Forney, Texas

by Taylor Williams September 28, 2023

FORNEY, TEXAS — Marcus & Millichap has brokered the sale of Bin 741 Storage, a 490-unit self-storage facility located in the eastern Dallas suburb of Forney. The facility was built in 2017 and spans 56,900 net rentable square feet. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller, a locally based family partnership that originally built the property, in the transaction. The duo also procured the buyer, a Houston-based investment firm.

September 28, 2023

Acquisitions Industrial Texas

Founders Properties Sells 114,000 SF Industrial Building in Plano

by Taylor Williams September 28, 2023

PLANO, TEXAS — Minnesota-based investment firm Founders Properties has sold a 114,000-square-foot industrial building located at 780 Shiloh Road in Plano. The building was constructed in 2001, renovated in 2007 and was fully leased at the time of sale to a single unnamed tenant. Randy Baird, Jonathan Bryan, Ryan Thornton, Nathan Wynne and Eliza Bachhuber of CBRE represented Founders Properties in the transaction. The buyer was an undisclosed, California-based private investor.

September 28, 2023

Acquisitions Retail Texas

SRS Real Estate Arranges $14.6M Sale of Retail Building Leased to Kohl’s in Katy, Texas

by Taylor Williams September 28, 2023

KATY, TEXAS — SRS Real Estate Partners has arranged the $14.6 million sale of a 55,000-square-foot retail building in the western Houston suburb of Katy that is triple-net-leased to Kohl’s. The seller, an undisclosed, institutional development group, is nearing completion of construction of the building, which sits on a 5.2-acre site. The lease term is 12 years. Matthew Mousavi and Patrick Luther of SRS represented the seller and procured the undisclosed out-of-state buyer, which acquired the asset via a 1031 exchange.

September 28, 2023

Acquisitions Office Texas

CCRM Fertility Signs 20,000 SF Office Lease at Uplands Corporate Center in Southwest Austin

by Taylor Williams September 28, 2023

AUSTIN, TEXAS — CCRM Fertility has signed a 20,000-square-foot office lease at Uplands Corporate Center in southwest Austin. The space spans about half of the third floor of the 124,081-square-foot Uplands II building. Mark Harris and Elizabeth Thompson of JLL represented the tenant in the lease negotiations. Matt Frizzell and Kevin Granger of Cushman & Wakefield represented the landlord, Drawbridge Realty.

September 28, 2023

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