MCKINNEY, TEXAS — Kansas City-based developer VanTrust Real Estate has broken ground on an approximately 512,000-square-foot speculative industrial project in McKinney, located north of Dallas. The project represents Phase I of a larger, 42-acre development known as 121 Commerce Park. Phase I will consist of two buildings that will span 242,393 and 270,479 square feet. Project partners include Evans General Contractors, architect GSR Andrade, civil engineer Kimley-Horn and leasing agent JLL. Construction of Phase I is expected to last about a year.
Texas
MELISSA, TEXAS — Marcus & Millichap has brokered the sale of UpLift Self Storage, a 454-unit facility located in the North Texas city of Melissa. The eight-building facility was built in 2021 and offers a mix of climate-controlled and drive-up storage units. Charles LeClaire and Dave Knobler of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.
CARROLLTON, TEXAS — Locally based brokerage firm Summit RE has negotiated the sale of a 209,476-square-foot office building in the northern Dallas metro of Carrollton. According to LoopNet Inc., the building at 4101 International Parkway was constructed on 14.8 acres in 1998. Parker Tims and Luke Ledbetter of Summit brokered the deal. The buyer and seller were both Texas-based entities that requested anonymity.
ARLINGTON, TEXAS — Miami-based investment firm Easton Group has purchased two industrial buildings totaling 72,800 square feet in Arlington. The buildings, which were both completed in the 1980s, total 47,800 and 25,000 square feet and are leased to commercial printing company Digital Room. Stephen Bailey of Newmark represented the seller, a joint venture between Prattco Creekway and Investcorp, in the transaction.
TULSA, OKLA. — Park Aerospace Corp. (NYSE: PKE) will open a $65 million manufacturing facility in Tulsa, a project that is expected to add about 100 new jobs to the local economy. The square footage was not disclosed. The site spans 18 acres on the north side of Tulsa International Airport, and the facility will be used to manufacture advanced composite materials for the defense and aerospace sectors. Construction is expected to begin in the coming weeks and to be complete in 2028.
AUSTIN, TEXAS — Endeavor Real Estate Group has broken ground on 5th & Walsh, a 198,000-square-foot office and retail project near downtown Austin. Designed by Studio8 Architects and Lake Flato Architects, the building will consist of four floors of office space, 25,000 square feet of which Endeavor plans to occupy for its new headquarters, and 21,000 square feet of retail and restaurant space on the ground floor. Shell construction is expected to be complete in late 2028.
FORT WORTH AND FLOWER MOUND, TEXAS — CBRE has negotiated the sale of two newly constructed industrial buildings in the Fort Worth area that are both leased to Tesla. The building at 5812 North Freeway in Fort Worth totals 50,840 square feet, and the building at 1805 Justin Road in Flower Mound, a northern suburb, totals 51,371 square feet. Anthony DeLorenzo, Sammy Cemo and Bryan Johnson of CBRE represented the undisclosed seller in the transactions. The name of the buyer(s) was also not disclosed.
LITTLE ELM, TEXAS — Marcus & Millichap has brokered the sale ofIndia Bazaar Plaza, a 13,079-square-foot retail strip center in Little Elm, located in the northern-central part of the metroplex. The center was built in 2018 and was fully leased at the time of sale to an ethnic grocer of the same name and Shahnaz Salon & Threading. Scott Abeel and Philip Levy of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.
OKLAHOMA CITY — Gardner Tanenbaum Holdings has completed a $60 million adaptive reuse project in downtown Oklahoma City. The project converted two historic buildings —the Tradesmen National Bank building at 101 N. Broadway and the Medical Arts building at 100 Park Ave., both of which were constructed in the early 1920s — into a 265-unit apartment complex known as The Harlow. The property offers studio, one- and two-bedroom units and also includes 4,300 square feet of retail space. Amenities include a game room, fitness center, movie theater, bowling alley and coworking space. Rents start at roughly $1,100 per month for a studio apartment.
CROWLEY, TEXAS — Marcus & Millichap has brokered the sale of Crowley Space Station, a 299-unit self-storage facility located south of Fort Worth. The site spans 5.2 acres, and the facility offers drive-up units, covered parking and uncovered parking spaces for a total of 64,210 net rentable square feet. Brandon Karr of Marcus & Millichap represented the seller, a local owner-operator, in the transaction, and procured the buyer, a California-based private investor. Both parties requested anonymity.
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