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AcquisitionsIndustrialTexas

Logistics Property Co. to Develop 1.4 MSF Industrial Park in Grand Prairie, Texas

by Taylor Williams

GRAND PRAIRIE, TEXAS — Logistics Property Co. will develop a 1.4 million-square-foot industrial park in Grand Prairie, roughly midway between Dallas and Fort Worth. The Chicago-based developer has purchased 109 acres at the intersection of President George Bush Turnpike and Shady Grove Road for the project, which will be known as Bear Creek Logistics Park. The five-building development will be constructed in two phases, with Phase I comprising 534,378 square feet across two buildings that will feature 36- to 40-foot clear heights. Completion of Phase I is slated for early 2028. Logistics Property Co. has tapped CBRE to lease Bear Creek Logistics Park.

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AcquisitionsHospitalityTexas

Marcus & Millichap Brokers Sale of 107-Room Hotel in Pecos, Texas

by Taylor Williams

PECOS, TEXAS — Marcus & Millichap has brokered the sale of a 107-room hotel in Pecos, located roughly midway between Midland and El Paso. The hotel is operated under the Best Western brand, and the sale included the Alpine Lodge restaurant, Ol’ Barrys Tavern and The Villas, a 33-unit manufactured housing community situated behind the hotel. Allan Miller and Chris Gomes of Marcus & Millichap represented the seller, an entity doing business as Catering of Central Texas LLC, in the transaction and procured the buyer, a private investor group.

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AcquisitionsIndustrialOfficeTexas

Colliers Brokers Sale of 51,150 SF Industrial Flex Building in Southeast Houston

by Taylor Williams

HOUSTON — Colliers has brokered the sale of a 51,150-square-foot industrial flex building in southeast Houston. According to LoopNet Inc., the building at 9191 Gulf Freeway was completed in 2015, offers 18- to 21-foot clear heights and was 86 percent leased at the time of sale. David Carter and Jeff Peltier of Colliers represented the seller in the transaction, and Chase Spence and Jordan Trout, also with Colliers, represented the buyer. Both parties requested anonymity.

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Leasing ActivityOfficeTexas

Walters, Balido & Crain Signs 5,590 SF Office Lease Expansion in North Dallas

by Taylor Williams

DALLAS — Walters, Balido & Crain has signed a 5,590-square-foot office lease expansion in North Dallas. The Austin-based law firm now occupies 44,021 square feet at Meadow Park Tower, a 267,779-square-foot building, and is committed through 2033. Scott Hage of JLL represented the tenant in the lease negotiations. Richmond Collinsworth and Jared Laake represented the landlord, Bradford Commercial Real Estate Services, on an internal basis.

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DevelopmentMultifamilyTexas

Moody National Begins Construction on 346-Unit Multifamily Project in West Houston

by Taylor Williams

HOUSTON — Locally based firm Moody National Development has broken ground on Silo Springs, a 346-unit multifamily project in West Houston that represents Phase I of a larger development. The 17-acre site is located at the northeast quadrant of I-10 and the Beltway, and the five-story building will offer one-, two- and three-bedroom units. Amenities will include a clubroom, fitness center, game lounge, business center, pool, courtyard, outdoor grilling and dining stations and a pet park. Architecture firm PVEDI (formerly EDI International) designed the project, and Arch-Con Corp. is serving as the general contractor. Completion is slated for mid-2028.

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AcquisitionsOklahomaRetailTexas

Hanley Investment Group Arranges $22.5M Sale of Shopping Center in Stillwater, Oklahoma

by Taylor Williams

STILLWATER, OKLA. — Hanley Investment Group, a California-based brokerage firm, has arranged the $22.5 million sale of Lakeview Pointe Shopping Center, a 207,406-square-foot shopping center in Stillwater. Built on 24.7 acres in 2006, the center was 95 percent occupied at the time of sale to tenants such as Best Buy, Ross Dress for Less, Belk, Five Below and Petco. Jeff Lefko and Bill Asher of Hanley, in association with ParaSell Inc., represented the seller, a partnership between Rubenstein Real Estate Co. and a Kansas-based family office, in the transaction. Scott Taubin of The R.H. Johnson Co. represented the undisclosed buyer.

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IndustrialLeasing ActivityTexas

Avison Young Negotiates 88,601 SF Industrial Lease in Northwest Houston

by Taylor Williams

HOUSTON — Avison Young has negotiated an 88,601-square-foot industrial lease in northwest Houston. The tenant is oilfield equipment supplier STATS International, and the deal is for the entirety of Building U within the development at 6401 N. Eldridge Parkway. Anthony Squillante and Drew Coupe of Avison Young represented the tenant in the lease negotiations. John Ferruzzo and Jack Ferruzzo of KBC Advisors, along with Ryan Wasaff and Cole Bercher of Welcome Group, represented the landlord, Chicago-based Brennan Investment Group.

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Leasing ActivityRetailTexas

Planet Fitness Opens 21,000 SF Gym in North Austin

by Taylor Williams

AUSTIN, TEXAS — Planet Fitness has opened a 21,000-square-foot gym in North Austin. Excel Fitness is the franchise operator of the new gym, which is located at 13729 N. Highway 183. The space will feature dedicated training and stretching areas, as well as a spa with tanning beds and recovery facilities. A grand opening ceremony took place on Friday, Feb. 27.

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AcquisitionsIndustrialOklahomaTexas

Sword Industrial Partners Buys 261,692 SF Park in Northeast Tulsa

by Taylor Williams

TULSA, OKLA. — Sword Industrial Partners, an affiliate of Dallas-based MAG Capital Partners, has purchased Braniff Park West, a 261,692-square-foot property in northeast Tulsa. The sales price was $20 million. Braniff Park West consists of two buildings on a 21.7-acre site with suites that range in size from 11,000 to 82,000 square feet. The property was 89 percent leased at the time of sale to tenants such as HSM Transportation, Forward Air and Ramsey Industries. Troy Gudgel and Terry Payne of CBRE represented the seller, an undisclosed, locally based partnership, in the transaction.

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AcquisitionsIndustrialSelf-StorageTexas

Marcus & Millichap Brokers Sale of 192-Unit Self-Storage Facility in Wilmer, Texas

by Taylor Williams

WILMER, TEXAS — Marcus & Millichap has brokered the sale of a 192-unit self-storage facility in Wilmer, a southern suburb of Dallas. Known as StorageHome, the facility was built in 1979 and expanded in 2007. The property spans 29,800 net rentable square feet of non-climate-controlled space across 26 single-story buildings. Thomas Dickinson, Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller, an entity doing business as Wilmer Storage LLC, in the transaction. The trio also procured the buyer, Momentum Wealth Fund. 

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