KYLE, TEXAS — A joint venture between Houston-based developer NewQuest and Transwestern Investments has broken ground on the retail component of Kyle Park, a 101-acre mixed-use project located at the northeast corner of I-35 and Bebee Road in Central Texas. The retail component of Kyle Park will feature a 412,588-square-foot lifestyle center that is preleased to tenants such as Dick’s Sporting Goods, Burlington, HomeGoods, ULTA Beauty, TJ Maxx, Barnes & Noble, Boot Barn and EōS Fitness. The development is also planned to include hospitality and multifamily uses. An expected completion date for the retail component was not announced.
Texas
FORT WORTH, TEXAS — A joint venture between Alliance Industrial Co. and institutional investment firm BGO has acquired Northwest Commerce Park Building 2, a 266,152-square-foot building in Fort Worth. The single-story building, which fronts State Highway 114, was constructed in 2020 and features a front-load configuration, 36-foot clear heights, 51 dock-high doors, two drive-in doors and parking for 135 cars and 46 trailers. The joint venture acquired the property in an off-market transaction. The seller and sales price were not disclosed.
DALLAS — Locally based development and investment firm Henley Capital is underway on a hotel redevelopment project near downtown Dallas. Demolition of the former City Inn & Suites hotel at 223 S. Ewing Ave., which is located adjacent to Halperin Park and about four miles south of downtown, began in mid-August. Henley Capital plans to redevelop the site into a mixed-use property with multifamily and retail components, with the potential to incorporate other uses as well. Susser Bank is financing the project, an expected completion date of which was not announced.
THE WOODLANDS, TEXAS — Three tenants — indoor children’s playground Happy Land, arts and crafts studio Make Art and golf-based entertainment concept Tee Box — have signed retail leases in The Woodlands, about 30 miles north of Houston. The square footages were not disclosed. The spaces are situated within Augusta Woods, a retail center located at 25903 Elmfield Drive. Axel Hevener and Rob Banzhaf of Newcor Commercial Real Estate represented the undisclosed landlord in the lease negotiations.
HOUSTON — Marcus & Millichap has brokered the portfolio sale of five self-storage facilities totaling 1,042 units in the greater Houston area. Two facilities are located in the northwestern suburb of Waller, and the other three facilities are scattered across the suburbs of Brookshire, Pattison and Hockley. The portfolio totals 148,745 net rentable square feet of climate- and non-climate-controlled space and includes both boat and RV storage spaces and more than 12 acres for future expansion. Dave Knobler, Mixson Staffel and Charles LeClaire of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.
MCKINNEY, TEXAS — April Housing, Blackstone Real Estate’s affordable housing division, is underway on the $19.3 million renovation of Skyway Villas, a 232-unit complex in the northern Dallas suburb of McKinney. The 13-buiding community was constructed in 2003. The renovation is part of a re-syndication that will preserve the property’s affordability status for another 30 years. Upgrades will include new flooring and countertops, fresh exterior painting, new water heaters and HVAC systems, accessibility improvements and enhancements and additions to the residential amenities.
HOUSTON — The Dinerstein Cos., a locally based owner-operator, has sold 3411 Richmond, an 82,692-square-foot office building in Houston’s Greenway Plaza district. The seven-story office building was constructed in 1968 (renovated in1996) and was 89 percent leased at the time of sale. Marty Hogan of JLL and David Anderson of Cresa co-represented The Dinerstein Cos. in the transaction. Evelyn Ward and Paula Musa of Transwestern represented the buyer, HRGI Development LLC.
OKLAHOMA CITY — SRS Real Estate Partners has arranged the $6.4 million sale of a portfolio of nine industrial outdoor storage (IOS) facilities in Oklahoma City. The portfolio consists of 43,000 square feet of buildings across 40.7 acres and was leased to nine tenants at the time of sale. Dave Faris of SRS represented the seller, a local family office, in the transaction. The buyer was an undisclosed, Kansas-based developer.
By Claire Carroll, shareholder, Munsch Hardt Kopf & Harr PC More than 400 miles of new transmission lines are moving closer to construction in Texas following the Public Utility Commission’s (PUC) approval of two major routes in August. For commercial property owners and developers, those decisions are a reminder that the window to influence where a transmission line crosses private property can close long before construction begins. The approvals, which are part of Texas’s Import Path 1 transmission expansion, mark a significant milestone for infrastructure creation, but the projects themselves are still years from completion. While the approved routes move toward land acquisition, easement negotiations and eventually construction, they also illustrate what’s at stake for other Texas landowners whose properties may be affected by proposed transmission projects. For those landowners, the opportunity to influence where a transmission line goes begins well before regulators make their final routing decision. And because a proposed line can affect everything from property access to future development plans, knowing when and how to participate in that process is critical. Responding to PUC Notices If a utility company sends you a notice that it has filed an application with the PUC for a new transmission line …
HOUSTON — JLL has negotiated the sale of Park 845 Crossing, a 757,325-square-foot industrial park in North Houston. Built in phases between 2008 and 2014, Park 845 Crossing comprises five buildings on a 38.9-acre site at the interchange of I-45 and Beltway 8. Buildings offer a mix of rear-load and cross-dock configurations, range in size from approximately 54,000 to 245,000 square feet and feature 18- to 30-foot clear heights. Trent Agnew, Charlie Strauss, Lance Young, Brooke Petzold and Max Myers of JLL represented the seller, an affiliate of Equus Capital Partners, in the transaction. The buyer was New York City-based REIT INDUS Realty Trust.
Newer Posts