Texas

Cushman & Wakefield, JLL Arrange Sale of 797-Unit Self-Storage Facility in Houston

by Taylor Williams October 23, 2018

HOUSTON — A partnership between Cushman & Wakefield and JLL has arranged the sale of a 797-unit self-storage facility located at 5321 Richmond Ave. in the Galleria-Uptown area of Houston. The property was sold in conjunction with an 849-unit facility in Los Angeles. The two properties feature more than 158,000 square feet. Greg Wells of Cushman & Wakefield and Steve Mellon of JLL represented the seller, California-based Cardiff Mason Development, in the transaction. The buyer was an undisclosed, national owner/operator.

October 23, 2018

Jefferson-River-East-Fort-WorthJefferson-River-East-Fort-Worth

Development Multifamily Texas

JPI to Develop 400-Unit Apartment Community in Fort Worth

by Taylor Williams October 23, 2018

FORT WORTH, TEXAS — Irving-based JPI will develop Jefferson River East, a 400-unit multifamily community that will be located adjacent to the Trinity River near downtown Fort Worth. Amenities will include two pools, two clubhouses, two sky lounges, a fitness center and a yoga studio. Fifth Third Bank is the senior lender on the project and CrossHarbor Capital Partners is providing preferred equity. JPI broke ground on the property on Oct. 19. The first units are expected to be available for occupancy by spring 2020.

October 23, 2018

Acquisitions Office Texas

Pillar, Artemis Acquire 130,371 SF Office Building in Plano

by Taylor Williams October 23, 2018

PLANO, TEXAS — A partnership between Dallas-based Pillar Commercial and investment firm Artemis Real Estate Partners has acquired Lincoln Legacy II, a 130,371-square-foot office building in Plano. The property is located near the intersection of the Dallas North Tollway and Tennyson Parkway and offers amenities such as a fitness center, tenant lounge and conference facilities. Curtis Jaggers of JLL secured acquisition financing through MetLife Inc. for the deal.

October 23, 2018

Acquisitions Hospitality Texas

HFF Negotiates Sale of 198-Room Hotel in Dallas

by Taylor Williams October 23, 2018

DALLAS — HFF has negotiated the sale of The Highland Dallas Curio, a 198-room hotel in Dallas. The property has undergone $6.2 million in renovations since 2014 and currently features a pool, fitness center, salon and 1,400 square feet of meeting space. John Bourret and Austin Brooks of HFF represented the undisclosed seller in the transaction. Pete Fehlman of HFF arranged acquisition financing for the sale on behalf of the buyer, St. Louis-based Lennox Capital Partners. The hotel is located at 5300 E. Mockingbird Lane near Southern Methodist University.

October 23, 2018

Leasing Activity Office Texas

MetroPCS Renews 115,583 SF Office Lease in Metro Dallas

by Taylor Williams October 23, 2018

RICHARDSON, TEXAS — MetroPCS Communications Inc. has renewed its 115,583-square-foot office lease at Lakeside Centre II, an office property located at 2250 Lakeside Blvd. in the northeastern Dallas metro of Richardson. Tim Terrell and Chase Lopez of Stream Realty Partners represented the landlord, Vereit, in the lease negotiations. CBRE represented the tenant.

October 23, 2018

Texas

Texas Unemployment Rate Falls to 3.8 Percent, Lowest in Four Decades

by Taylor Williams October 22, 2018

AUSTIN, TEXAS — The unemployment rate in Texas has fallen to 3.8 percent, its lowest mark in four decades, according to a report from the Texas Workforce Commission (TWC). The latest data shows a decline of 10 basis points in the unemployment rate from August to September, as well as 15,600 nonfarm jobs added in September. The Texas economy has now experienced 27 consecutive months of job growth and 3.3 percent employment growth year-to date . In Texas’ service providing sector, financial activities added 5,800 positions over the month, and led all industries in job growth for September. Also within this sector, professional and business services added 2,500 jobs, followed by trade, transportation and utilities, which added 2,100.

October 22, 2018

Acquisitions Industrial Texas

Brennan Purchases Nine-Building Manufacturing Campus in Columbus, Texas in Sale-Leaseback Deal

by Taylor Williams October 22, 2018

COLUMBUS, TEXAS — Chicago-based Brennan Investment Group LLC has acquired a nine-building manufacturing campus situated on 15 acres at 200 Texas Ave. in Columbus, about 75 miles west of Houston. The properties were 100 percent leased to KW International, which produces oil and gas production and measurement equipment, at the time of sale. Brennan will lease back the space to the tenant, which houses its headquarters at the property.

October 22, 2018

Acquisitions Multifamily Texas

ClearWorth Capital Acquires 212-Unit Apartment Property in Metro Houston

by Taylor Williams October 22, 2018

CONROE, TEXAS — Multifamily investment firm ClearWorth Capital LLC has acquired Redford Park Apartments, a 212-unit multifamily property in Conroe, a northern suburb of Houston. Built in 1983, the property offers one- and two-bedroom units, as well as a tennis court, pool and resident clubhouse. ClearWorth Capital will implement a value-add program to the asset, the seller of which was not disclosed. Nathan Stone of Berkadia arranged acquisition financing for the deal.

October 22, 2018

Development Industrial Texas

Plastics Firm to Invest $10M in Production Facility in Metro Dallas

by Taylor Williams October 22, 2018

GARLAND, TEXAS — Plastipak Packaging, a Michigan-based supplier of plastic bottles to companies such as Dr. Pepper, PepsiCo and Kraft Heinz, will invest $10 million in its production facility in Garland, a northeastern suburb of Dallas. The expansion of the plant, which spans roughly 400,000 square feet and has been operational since 1996, is expected to create six new jobs.

October 22, 2018

Industrial Leasing Activity Texas

NAI Partners Arranges 30,000 SF Industrial Lease in Metro Houston

by Taylor Williams October 22, 2018

MISSOURI CITY, TEXAS— NAI Partners has arranged a 30,000-square-foot industrial lease at 14039 S. Gessner Road in Missouri City, a southwestern suburb of Houston. Darren O’Conor and Jake Wilkinson of NAI Partners represented the landlord, Roadrunner Ltd., in the lease negotiations. Wes Williams of Boyd Commercial represented the tenant, Almofa LLC, a Houston-based furniture supplier.

October 22, 2018

Newer Posts

Older Posts