Texas

Eleven Food and Beverage Concepts Opening This Month at Toyota Music Factory in Irving

by Taylor Williams March 13, 2018

IRVING, TEXAS — Eleven new food-and-drink-based concepts will open this month at Toyota Music Factory, an entertainment destination located within the Las Colinas district in Irving. New restaurants include Highway 61 South, a barbecue restaurant; Kabuki, a Japanese restaurant; and Texas Jam House, an eatery specializing in Southern cuisine. Night club Martini Ranch and frozen fruit bar Pop Factory by Maxfrut, among others, will also open stores within the destination, which will ultimately consist of 500,000 square feet of retail, restaurant and office space. An eight-screen Alamo Drafthouse Cinema will also open at Toyota Music Factory in April.

March 13, 2018

Retail Texas

Basketball-Focused Fitness Chain Opens 16,936 SF Gym in Metro Dallas

by Taylor Williams March 13, 2018

COPPELL, TEXAS — PickUp USA Fitness, a fitness chain dedicated to basketball, has opened a 16,936-square-foot gym at Sandy Lake Business Center in Coppell, a northwestern suburb of Dallas. The location was formerly leased to a Taekwondo studio. The gym will feature weights and cardio machines in addition to numerous courts for pick-up games. Private lessons and classes are also available. Allyson Yost and Cole Hooper of Colliers International represented Mosely Basketball, the franchise operator of the Coppell gym, in the lease negotiations. Erik Blaise of Bradford Commercial Real Estate Services represented the landlord. PickUp USA Fitness also operates franchises in Arizona, Florida and Nevada.

March 13, 2018

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 49,000 SF Industrial Lease in Houston

by Taylor Williams March 13, 2018

HOUSTON — Lee & Associates has negotiated a 49,000-square-foot industrial lease at 4514 Brittmoore Road in northwest Houston. Preston Yaggi and Stephen Kuper of Lee & Associates represented the landlord, Chapman & Cole, in the lease negotiations. Travis Land and Nick Peterson of NAI Partners represented the tenant, BiSN Oil Tools LLC, a provider of sealing solutions for the oil and gas business.

March 13, 2018

Multifamily Texas

StreetLights Residential to Develop $50M Apartment Community in Austin

by Taylor Williams March 12, 2018

AUSTIN, TEXAS — Dallas-based StreetLights Residential will develop a 373-unit multifamily community within the 129-acre Austin Presidio development situated on Austin’s northwest side. The property, which has roughly $50 million in project costs, will be situated on 8.5 acres at the corner of Lakeline Mall Boulevard and Lyndhurst Street. The new community will be StreetLights’ second at Austin Presidio following The Michael, a 415-unit community that was completed in September 2016 and is approaching full occupancy. Steve Williamson of Transwestern represented StreetLights Residential in the land sale. Williamson also represented the seller, Austin 129 LLC, in that transaction.

March 12, 2018

Multifamily Texas

IPA Negotiates Sale of 448-Unit Apartment Community in North Dallas

by Taylor Williams March 12, 2018

DALLAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Churchill on the Park, a 448-unit multifamily community located near the Interstate 635/U.S. Highway 75 interchange in north Dallas. The property offers one- and two-bedroom units and amenities such as a resort-style pool, fitness center with classes, access to jogging and biking trails, outdoor cabanas with fireplace and grills and a billiards room. Will Balthrope, Drew Kile and Joey Tumminello of IPA represented the seller, a New York-based pension fund advisor, in the transaction. The IPA team also procured the buyer, TH Real Estate, a global investment firm.

March 12, 2018

Multifamily Texas

Berkadia Arranges Sale of 311-Unit Apartment Community in San Antonio

by Taylor Williams March 12, 2018

SAN ANTONIO — Berkadia has arranged the sale of Legacy Flats, a 311-unit apartment community located in western San Antonio. Developed and built by White-Conlee Builders in 2016, the Class A property consists of one-, two- and three-bedroom units. Amenities include a 4,800-square-foot clubhouse, internet café, fitness center and an outdoor pool and kitchen area. Ryan Epstein, Will Caruth, Mike Miller, Cody Courtney, Wes Breeding and Scott Bray of Berkadia represented the seller, Legacy Flats Ltd., in the sale. Berkadia also represented the buyer, PEM Real Estate Group, an Arizona-based investment and management firm.

March 12, 2018

Retail Texas

SHOP Cos. Brokers Sale of Three Retail Properties Totaling 68,771 SF in DFW

by Taylor Williams March 12, 2018

MCKINNEY, ALLEN AND LITTLE ELM, TEXAS — SHOP Cos. has brokered the sale of three retail properties totaling 68,771 square feet in the Dallas-Fort Worth (DFW) area. The properties are Craig Ranch North Plaza, a 38,265-square-foot retail center in McKinney; McDermott Commons North & BB&T Bank, a 24,389-square-foot center and freestanding pad site in Allen; and Cook Children’s & Frisco Elm Dental, a 6,035-square-foot center in Little Elm. The sellers were not disclosed, but all were based in Texas. An Arkansas-based limited liability company purchased Craig Ranch North Plaza, and a Texas-based limited liability company and a Texas-based limited partnership purchased the Allen and Little Elm properties, respectively. The sales prices were not released.

March 12, 2018

Industrial Texas

AQUILA Negotiates 107,780 SF Industrial Lease for Goodwill in Austin

by Taylor Williams March 12, 2018

AUSTIN, TEXAS — AQUILA Commercial has negotiated a 107,780-square-foot industrial lease for Goodwill Industries of Central Texas at Heritage Crossing in north Austin. Goodwill will be the sole tenant of Building 5, which is under construction and slated to be delivered in late summer. The location will house a distribution center and retail outlet for Goodwill, which currently occupies 95,270 square feet at Heritage Crossing. Leigh Ellis and Jay Lamy of AQUILA represented Goodwill in the lease negotiations. Sam Owen of Stream Realty Partners represented the undisclosed landlord.

March 12, 2018

Industrial Texas

German Manufacturer to Relocate North American Headquarters to Houston

by Taylor Williams March 9, 2018

HOUSTON — MAN Diesel & Turbo, a German manufacturer of marine propulsion systems and machinery, will relocate its North American headquarters to Twinwood Business Park, a 650-acre development in Houston. The company, which will be combining its operations in Houston and nearby Deer Park, will occupy a 137,434-square-foot building consisting of 105,309 square feet of service shop space and 32,125 square feet of office space. The property is currently being developed by Houston-based Welcome Group and is slated to open during the second quarter of 2019. Approximately 140 workers will be employed at the new plant. Bob Berry and Jacob Bravo of Avison Young represented MAN Diesel & Turbo in the lease negotiations.

March 9, 2018

Mixed-Use Texas

Cambrian, Bercy Chen to Develop $13M Mixed-Use Project in East Austin

by Taylor Williams March 9, 2018

AUSTIN, TEXAS — Cambrian Development and Austin-based Bercy Chen Studios will develop Shady Lane Creative Studios, a mixed-use property in east Austin that will include 47,723 square feet of office space, 7,714 square feet of ground-floor retail space and a 9,000-square-foot central courtyard. The project carries a price tag of roughly $13 million, according to the Austin Business Journal. The property will connect to Govalle Park, as well as bike trails and a proposed commuter rail line. A timeline for construction has not yet been established.

March 9, 2018

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