DALLAS — Adobe Properties, a subsidiary of Dallas-based Transcontinental Realty Investors Inc., has completed Eagle Crossing, a 150-unit multifamily community located just outside downtown Dallas. Floorplans consist of one-, two- and three-bedroom units and communal amenities include a walking trail, pool, fitness center and a pet park. Construction wrapped up in January and the property was 97 percent preleased as of April.
ADDISON, TEXAS — VapeWild, a manufacturer and distributor of e-cigarette juice, has signed a 62,289-square-foot office/industrial lease at 4550 Excel Parkway in Addison, a northern suburb of Dallas. VapeWild has operated in Addison since 2013 and is expanding its footprint, which previously totaled 20,765 square feet. Roughly half the new space is being used for manufacturing and distribution and the other half will be used to house its customer relations team. The company, which now employs about 280 people, will move into its expanded space in July.
HOUSTON — NAI Partners has arranged the sale of a 54,750-square-foot warehouse located at 14333 Sommermeyer St. in northwest Houston. Nick Peterson, John Ferruzzo and Ryan Searle of NAI Partners represented the seller, Vallourec Tube Alloy LLC, a provider of casing and tubing accessories, in the sale. Justin Clark and Nathan Gaines of Clark Gaines represented the buyer, H&B Development & Construction LP.
MIDLAND AND ODESSA, TEXAS — Fort Worth-based investment firm Olympus Property has acquired two multifamily properties totaling 568 units in West Texas. The 300-unit Sundance Creek in Midland features one- and two-bedroom units and amenities such as a pool, fitness center, business center, tanning beds, outdoor kitchen and a game room. The 268-unit Sedona Ranch in Odessa also consists of one- and two-bedroom units and offers a similar package of amenities. The seller was San Antonio-based Koontz Corp., which developed the properties and completed them in 2015. Institutional Property Advisors (IPA), a division of Marcus & Millichap, brokered the deal.
IRVING, TEXAS — Houston-based Hines has purchased DFW East Logistics Center, a three-building, 259,555-square-foot industrial property located near Dallas-Fort Worth (DFW) International Airport in Irving. Completed in 2017, the Class A property is situated on 18 acres and was 15 percent leased at the time of sale. Jonathan Bryan and Randy Baird of CBRE represented the undisclosed seller in the transaction. Hines has tapped Stream Realty Partners to handle the property’s leasing responsibilities.
MCKINNEY, TEXAS — Dallas-based Dalfen America Corp. has broken ground on a 115,176-square-foot industrial building located at 1581 Corporate Drive in the northern Dallas metro of McKinney. The building will be located near the intersection of U.S. Highways 75 and 380 and across the street from a Walmart Supercenter. Designed by Macgregor Associates Architects, the Class A property will feature 32-foot clear heights, 155 car parking spaces and 26 dock doors. Completion is slated for November. The property is being developed on a speculative basis and will be able to accommodate distribution, e-commerce or light manufacturing users.
DESOTO, TEXAS — Dallas-based JMJ Development has begun work on Bellwater Ridge Apartments, a 150-unit multifamily community that will be located in the southern Dallas metro of DeSoto. The property will feature open floor plans with nine-foot ceilings and upgraded kitchens in the unit interiors. Communal amenities will include a resort-style pool, clubhouse, fitness center and an outdoor pavilion and dining area. Completion is scheduled for the fall.
AUSTIN, TEXAS — Virginia-based telecommunications firm GTT Communications has signed a 44,508-square-foot lease at Stonebridge Plaza I & II, a 386,101-square-foot office property in north Austin. KBS Realty Advisors owns the Class A property, which is located near The Domain and The Arboretum at Great Hills, two retail and dining destinations. The surrounding area also offers access to walking trails, tennis and basketball courts and a pool. Robbye Schroeder Kirkpatrick of Newmark Knight Frank represented GTT Communications in the lease negotiations.
BEAUMONT, TEXAS — The LeClaire Group, a division of Marcus & Millichap, has brokered the sale of a portfolio of Lisotta’s Self Storage properties in southeast Texas. The seven facilities were constructed in the 1970s and 1980s and total 389,386 net rentable square feet across 2,627 units. Two of the properties are located in Beaumont and two are located in Nederland, with the other facilities located in Groves, Bridge City and Orange. Dave Knobler and Charles LeClaire of Marcus & Millichap represented the seller, an individual/personal trust. An undisclosed limited liability company purchased the portfolio.
LUBBOCK, TEXAS — Transwestern has arranged the sale of a three-property, 1,154-unit multifamily portfolio in the West Texas city of Lubbock. The properties include The Park, a 528-unit asset that includes townhomes and single-level apartments with yards; Ashton Pointe, a 366-unit community that offers a fitness center and racquetball court; and Dominion Apartments, a 260-unit property that features a pool and fitness center. James Roberts, Philip Wiegand and Taylor Snoddy of Transwestern represented the seller, Lubbock-based McDougal Cos. A Colorado-based investment firm purchased the portfolio for an undisclosed price.
