Texas

Mesquite City Council Approves $250M Medical, Mixed-Use Campus

by Taylor Williams June 27, 2018

MESQUITE, TEXAS — The City Council of Mesquite, an eastern suburb of Dallas, has approved the development of The Verde Center at Peachtree, a $250 million medical campus and mixed-use development. Minneapolis-based Ryan Cos. USA Inc., along with several partners, will develop the 60-acre project, the first phase of which will deliver 600,000 square feet of medical inpatient, outpatient and office space. Later phases will feature a 25-acre amenity center with walking trails and a fitness center. Other elements of the project will include a hotel and conference center and a senior living community. Construction of Phase I is expected to commence by mid-2019.

June 27, 2018

Acquisitions Retail Texas

Lamar, Real Capital Acquire Two Retail Centers Totaling 292,000 SF in Metro Dallas

by Taylor Williams June 27, 2018

LEWISVILLE, TEXAS — A partnership between New Jersey-based investment firm Lamar Cos. and Real Capital Solutions has acquired Shops at Vista Ridge and Vista Ridge Plaza, two adjacent retail centers totaling approximately 292,000 square feet in Lewisville, a northern suburb of Dallas. Retailers at the properties, which the new ownership sees as value-add investments, include Bed, Bath & Beyond, DSW, Burke’s Outlet and Pier 1 Imports. Disney Investment Group brokered the sales of the properties.

June 27, 2018

Loans Office Texas

HFF Places $48.5M Loan for Refinancing of Houston Office Building

by Taylor Williams June 27, 2018

HOUSTON — HFF has placed a $48.5 million loan for the refinancing of CITYCENTRE Five, a 201,437-square-foot office building in Houston. The property is located within a 50-acre mixed-use development that includes three apartment communities and a 265-room hotel. Colby Mueck of HFF arranged the loan through New York Life Real Estate Investors on behalf of Midway Cos., a Houston-based development and management firm.

June 27, 2018

Loans Office Texas

Meridian Capital Arranges $23.2M CMBS Loan for Southlake Office Asset

by Taylor Williams June 27, 2018

SOUTHLAKE, TEXAS — New York-based Meridian Capital has arranged a $23.2 million CMBS loan for Cedar Ridge Office Park, a 129,000-square-foot office property in Southlake, a northern suburb of Fort Worth. The two-building development was built in 2005 and 2007 and offers a total of 538 parking spaces. Allan Lieberman, Steven Adler and Simcha Schick of Meridian Capital arranged the 10-year loan on behalf of the borrower, Connecticut-based TS Partners.

June 27, 2018

Development Multifamily Texas

Howard Hughes to Develop 386-Unit Apartment Community in The Woodlands

by Taylor Williams June 26, 2018

THE WOODLANDS, TEXAS — Howard Hughes Corp. will develop a 386-unit apartment community in The Woodlands, located about 30 miles north of downtown Houston. The lakefront property, which will offer one-, two- and three-bedroom units, will feature ground-floor retail and restaurant space. Amenities will include a pool, fitness center, yoga room, sky lounge on the top floor and free kayaks and bikes for resident use. Construction is expected to be complete by spring 2020.

June 26, 2018

Development Office Texas

Patrinely Breaks Ground on 149,600 SF Office Building in Metro Houston

by Taylor Williams June 26, 2018

SPRING, TEXAS — A joint venture led by Patrinely Group has broken ground on CityPlace 1, a 149,600-square-foot office building in Spring, a northern suburb of Houston. The property will include 26,900 square feet of retail space and a parking structure that will be delivered as part of the project, which is slated for a second-quarter 2019 completion. Other developers in the joint venture include San Antonio-based USAA Real Estate and CDC Houston

June 26, 2018

Development Hospitality Texas

NewcrestImage Begins Work on 150-Room Hilton-Branded Hotel in Frisco

by Taylor Williams June 26, 2018

FRISCO, TEXAS — Dallas-based hospitality developer NewcrestImage has begun work on Canopy by Hilton Dallas Frisco Station, a 150-room hotel located within the 242-acre Frisco Station mixed-use development on the northern outskirts of Dallas. The property is part of a larger hotel campus that includes an AC Hotel, a Residence Inn and a Hyatt Place, each of which has 150 rooms. The opening of the Hilton hotel is slated for late 2019.

June 26, 2018

Leasing Activity Retail Texas

Motorcycle Group to Open Five New Dealerships in Texas by 2019

by Taylor Williams June 26, 2018

BEDFORD, TEXAS — Lucky Penny Cycles, a seller of pre-owned motorcycles, will open five new dealerships in Texas by 2019, including locations in Dallas-Fort Worth, Houston, Austin and San Antonio. The company’s first store, which opened in the Fort Worth suburb of Bedford in 2016, features an 18,000-square-foot showroom and offers brands including Harley-Davidson, Honda, Suzuki and Yamaha. The store also sells clothing and other biker-themed merchandise.

June 26, 2018

Acquisitions Industrial Texas

SVN | Dunn Arranges Sale of 24,190 SF Industrial Asset in Metro Dallas

by Taylor Williams June 26, 2018

ADDISON, TEXAS — SVN | Dunn Commercial has arranged the sale of a 24,190-square-foot industrial asset in Addison, a northern suburb of Dallas. The property, which includes 8,000 square feet of office space and a fenced outside storage area, is leased to a company that manufactures semiconductors. David Dunn and Courtney Dunn of SVN | Dunn Commercial represented the seller in the transaction. Other terms of sale were not disclosed.

June 26, 2018

Civic Development Texas

iSports to Develop 157,000 SF Athletic Complex in Metro Austin

by Taylor Williams June 25, 2018

CEDAR PARK, TEXAS — iSports Real Estate Development LLC, an Austin-based partnership, will develop a 157,000-square-foot athletic training and performance center in Cedar Park, a northwestern suburb of Austin. The facility will include an ice rink and indoor and outdoor turf fields. The project developers are also seeking tenants to operate competitive cheerleading and gymnastics, sand volleyball courts and a medical and sports rehabilitation practice, as well as sports retail stores. Plans for a family entertainment center with dining options and private events have also been introduced. The groundbreaking is slated for early fall.

June 25, 2018

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