Texas

TCC, Elm Tree to Build 259,947 SF Immigration Center in Irving

by Taylor Williams August 23, 2018

IRVING, TEXAS — Trammell Crow Co. and Elm Tree Funds will build a 259,947-square-foot government office building on a 27-acre tract in Irving. The project is a build-to-suit for the General Services Administration, which has signed a 20-year lease. U.S. Citizenship and Immigration Services will use the property as its Texas Service Center. Construction is scheduled to begin in August and to be completed in early 2020. Gensler is serving as the project architect and Manhattan Construction Co. is the general contractor.

August 23, 2018

Development Retail Texas

NewQuest to Develop 66,000 SF Retail Expansion Project in Metro Houston

by Taylor Williams August 23, 2018

KATY, TEXAS — NewQuest Properties will develop a 66,000-square-foot expansion project at Grand Morton Town Center, located in the western Houston metro of Katy. Several retailers, including HomeGoods, Michaels, Petco and Hallmark have already preleased space at the property. NewQuest plans to break ground in the coming months, with the first stores opening in early summer 2019.

August 23, 2018

Acquisitions Retail Texas

STRIVE Arranges Sale of 51,390 SF Shopping Center Near Dallas

by Taylor Williams August 23, 2018

MESQUITE, TEXAS — Dallas-based retail brokerage firm STRIVE has arranged the sale of Pioneer Plaza, a 51,390-square-foot retail center in Mesquite, an eastern suburb of Dallas. The property was 85 percent occupied at the time of sale to mix of national, regional and local tenants. The seller was a group of investors based in California and Canada, and the buyer was a Texas-based investor.

August 23, 2018

Acquisitions Industrial Texas

TIG Negotiates Sale of 15,000 SF Industrial Building in Greater Dallas

by Taylor Williams August 23, 2018

GARLAND, TEXAS — TIG Real Estate Services Inc. has negotiated the sale of a 15,000-square-foot industrial building located at 3640 Marquis Drive in Garland, a northeastern suburb of Dallas. The Class B property was built in 1972 and includes eight drive-in doors. Matt Spellman of TIG represented the buyer in the transaction. Other terms of sale were not disclosed.

August 23, 2018

Acquisitions Industrial Texas

Colliers Arranges Sale of 336,000 SF Industrial Complex in Cuero, Texas

by Taylor Williams August 22, 2018

CUERO, TEXAS — Colliers International has arranged the sale of a 336,000-square-foot industrial complex in Cuero, located about 90 miles east of San Antonio. The property formerly served as a cotton weaving facility but will now function as the main Texas distribution center for the buyer, OHS Resources Corp., a Houston-based supplier of oil and gas drilling products. Jason Scholtz of Colliers represented the seller, MV Cuero Partners LLC, in the transaction.

August 22, 2018

Company News Development Industrial Texas

Paradigm Metals to Open $10M Headquarters Facility in Hutto, Texas

by Taylor Williams August 22, 2018

HUTTO, TEXAS — Paradigm Metals, a provider of precision machining and sheet metal fabrication, will relocate its headquarters from Pflugerville to Hutto, a northern suburb of Austin. Paradigm Metals expects to invest about $10 million to acquire and develop a new facility within Innovation Business Park, a 72-acre development that broke ground in 2017. Construction of the new facility, which will initially house 250 employees, is slated to begin later this year. Paradigm Metals plans to begin relocating to the new facility in 2019.

August 22, 2018

Industrial Leasing Activity Texas

CBRE Negotiates 277,424 SF Industrial Lease Renewal in Ciudad Juarez

by Taylor Williams August 22, 2018

CIUDAD JUAREZ, MEXICO — CBRE has negotiated a lease renewal for 277,424 square feet of warehouse and distribution space within Finsa Industrial Park in Ciudad Juarez, the sister city of El Paso. Anthony Mash of CBRE represented the tenant, Intermatic, a producer of energy control devices, in the lease negotiations. The landlord, Finsa – Cibanvo SA Institucion DE Banca, was self-represented. The new lease term is seven years.

August 22, 2018

Acquisitions Hospitality Texas

Driftwood Hospitality Sells 116-Room, Hyatt-Branded Hotel in Houston

by Taylor Williams August 22, 2018

HOUSTON — Florida-based Driftwood Hospitality has sold Hyatt House Houston Energy Corridor, a 116-room hotel located at 15405 Katy Freeway in Houston. The buyer was Houston-based Energy Corridor Hotels LLC, which acquired the asset for an undisclosed price. Michael Yu, Rahul Bijlani and Agrama Mannapperuma of CBRE, in conjunction with Ten-X Commercial through a managed bid process, represented the seller and buyer in the transaction.

August 22, 2018

Powerhouse-Business-Complex-McKinney-Texas

Acquisitions Industrial Texas

Marcus & Millichap Brokers Sale of 49,883 SF Industrial Building in Metro Dallas

by Taylor Williams August 22, 2018

MCKINNEY, TEXAS — Marcus & Millichap has brokered the sale of Powerhouse Business Complex, a 49,883-square-foot industrial building located in the northern Dallas suburb of McKinney. Adam Abushagur of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were private investors that requested anonymity.

August 22, 2018

Data Centers Development Industrial Texas

Digital Realty to Embark on $400M Data Center Expansion in Greater Dallas

by Taylor Williams August 21, 2018

GARLAND, TEXAS — Digital Realty, a San Francisco-based data center REIT, will embark on a $400 million expansion of its data center campus in Garland, a northeastern suburb of Dallas. The project will add 16 acres to the original site at the intersection of Campbell Road and the George Bush Turnpike. The company’s Garland campus is being developed over a 20-year period in five phases, each of which will add about 280,000 square feet of space and operate at 32 megawatts of critical IT load. The first phase is expected to be operational by late 2021.

August 21, 2018

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