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.
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.
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.
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.
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.
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.
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.
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.
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.
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.