DALLAS — Locally based investment firm Dalfen Industrial has acquired a portfolio of 19 industrial properties totaling approximately 1.4 million square feet, the majority of which (13) are located in the Dallas area. The sales price was $207.5 million. The other six properties are scattered across Midwestern markets, including Chicago, Cincinnati and Indianapolis. The Dallas properties are located in submarkets such as Plano, Valwood and the Great Southwest. The portfolio was 93 percent leased to 48 tenants at the time of sale. Jack Fraker, Dom Espinosa and Travis McEldowney of Newmark represented the seller, Mapletree, a development and investment firm based in Singapore, in the transaction.
PLANO, TEXAS — Rosewood Property Co. has received zoning approval from the Plano City Council for Heritage Creekside, a 156-acre mixed-use development that will be located near the intersection of U.S. Highway 75 and President George Bush Turnpike. According to the site plan, Rosewood intends to develop about 340 single-family homes, 2,000 apartments, 292,000 square feet of office space and 109,000 square feet of retail, restaurant and entertainment space on the site. According to Rosewood, these elements constitute a shift from previous plans that featured heavier office and hospitality components. A tentative construction timeline was not announced, but “further development of the master-planned community is expected by the end of the year,” Rosewood said in a statement.
WEBSTER, TEXAS — CBRE has brokered the sale of Baybrook Village, a 278,842-square-foot shopping center located in the southeastern Houston suburb of Webster. Built in 1978 and renovated in 2020, Baybrook Village is home to tenants such as Burlington, Ross Dress for Less, PetSmart, PGA Superstore, Chuck E. Cheese, Haverty’s and pOpshelf. Mark Witcher, Jolie Duhon, Jim Batjer, Chris Cozby and Harrison Tye of CBRE’s National Retail Partners team represented the seller, a partnership between O’Connor Capital Partners and Wafra, in the transaction. Brent Crawford and John Fenoglio, also with CBRE, arranged acquisition financing on behalf of the buyer, Fidelis Realty Parters.
HOUSTON — Berkadia has arranged the sale of Green Tree Place, a 200-unit apartment complex in West Houston. Built in 1984, the property offers one- and two-bedroom units and amenities such as a pool, fitness center, business center, playground, outdoor kitchen and a cyber café. Chris Young, Chris Curry, Jeffrey Skipworth, Joey Rippel, Kyle Whitney and Jed Dalton of Berkadia represented the seller, Kairos Investment Management, in the transaction. The buyer was Texas-based investment firm Aligned Ventures.
EL PASO, TEXAS — JLL has negotiated the sale of Forty649 North Hills, a 342-unit apartment community in El Paso. Built on 17.7 acres in 2009 on the city’s northeast side, the property comprises 42 two-story buildings that house one-, two- and three-bedroom units with an average unit size of 897 square feet. Amenities include a pool, fitness center, clubhouse and a dog park. Steven Hahn Jr., Art Barnes and William Jennings of JLL represented the seller, Hamilton Point Investments, in the transaction. The buyer and sales price were not disclosed.
KYLE, TEXAS — SLDM Commercial Properties has completed construction of Phase II of Dacy Business Park, a 137,550-square-foot industrial project in the southern Austin suburb of Kyle. Phase II of Dacy Business Park featured three buildings totaling 31,500 square feet, and the entire development will eventually consist of 13 buildings that will be delivered across four phases. Units at Dacy Business Park will range in size from 1,200 to 12,000 square feet, and buildings will feature clear heights of 22 to 24 feet. LT Commercial Group is the leasing agent. Units are also offered for sale, with prices starting in the mid-$300,000s.
STANTON, TEXAS — Marcus & Millichap has brokered the sale of a 50-room hotel in Stanton, located just outside of Midland in West Texas. Built in 2015, the hotel is operated under the Super 8 by Wyndham brand and offers fitness and business centers, as well as a breakfast area. Alexander Curry and Chris Gomes of Marcus & Millichap represented the seller, Dallas-based LIG Hotels, in the transaction. Rajan Patel, also with Marcus & Millichap, represented the buyer, an undisclosed, Houston-based partnership.
HOUSTON — Yetter Coleman LLP has signed a 43,906-square-foot office lease in downtown Houston. The law firm will relocate from the nearby building at 811 Main St. to the 53rd and 54th floors of 600 Travis Street, a 75-story tower. Jon Lee and Claire Douthit of CBRE represented the tenant in lease negotiations. A partnership between Hines and Cerberus Capital Management owns the building.
HOUSTON — First Community Credit Union (FCCU) has purchased Noble Energy Center Two, a 470,623-square-foot office building in northwest Houston, for its new headquarters. Built on 4.7 acres in 2020, the building will “provide the space and infrastructure needed to enhance collaboration, develop talent and deliver an elevated experience for FCCU’s more than 180,000 members,” according to FCCU. Jeff Hollinden, Kevin McConn and Max Myers of JLL represented the undisclosed seller in the transaction. Larry Cedillo of Cross Capital Realty represented FCCU.
HOUSTON — JLL has brokered the sale of 1800 Bering, a 171,510-square-foot office building in Houston’s Galleria district. The 10-story building was roughly 83 percent leased at the time of sale and offers amenities such as a micro market, tenant lounge, conference center and an outdoor patio. Kevin McConn and Marty Hogan of JLL represented the seller, California-based investment firm KBS, in the transaction. Michael Johnson and Michael King, also with JLL, arranged acquisition financing on behalf of the buyer, local private equity firm DML Capital. The new ownership has tapped Transwestern as the leasing agent.
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