Texas

Ridge to Develop 477,355 SF Speculative Industrial Property in Metro Houston

by Taylor Williams March 29, 2018

MISSOURI CITY, TEXAS — Ridge, the industrial development arm of Transwestern, will develop Southwest Commerce Center, a 477,355-square-foot speculative industrial property in the southwestern Houston metro of Missouri City. The cross-dock property will be situated on a 29-acre site at the corner of Beltway 8 and U.S. Highway 90. Individual features will include 32-foot clear heights, 129 dock doors, 58 trailer parking spaces and 275 car parking spaces. The groundbreaking is slated for May and delivery is slated for early 2019.

March 29, 2018

DoubleTree-by-Hilton-Austin-Northwest-Arboretum

Acquisitions Hospitality Texas

HFF Negotiates Sale of 194-Room Hilton-Branded Hotel in Austin

by Taylor Williams March 29, 2018

AUSTIN, TEXAS — HFF has negotiated the sale of the 194-room DoubleTree by Hilton Hotel Austin Northwest Arboretum on Austin’s north side. The property is situated adjacent to two mixed-use developments, The Domain and The Arboretum, and features a 24-hour business center, outdoor pool and 6,600 square feet of meeting and event space. John Bourret, Austin Brooks and Daniel Peek of HFF represented the seller, Florida-based Driftwood Hospitality Management, in the transaction. San Diego-based Pinnacle Hotels USA purchased the property for an undisclosed price.

March 29, 2018

Development Hospitality Texas

NewcrestImage Opens 134-Room Hyatt-Branded Hotel in Oklahoma City’s Bricktown District

by Taylor Williams March 29, 2018

OKLAHOMA CITY — Dallas-based hospitality development firm NewcrestImage has opened a 134-room Hyatt Place hotel in the Bricktown district of Oklahoma City. The five-story property features a 24-hour fitness center and 1,800 square feet of meeting space. The Hyatt Place is the third hotel operated by NewcrestImage in Oklahoma City.

March 29, 2018

Acquisitions Industrial Lee & Associates Texas

Lee & Associates Brokers Sale of 74,100 SF Industrial Building in Metro Dallas

by Taylor Williams March 29, 2018

GRAND PRAIRIE, TEXAS — Lee & Associates has brokered the sale of a 74,100-square-foot industrial building located at 2001 110th St. in the Dallas metro of Grand Prairie. Trey Fricke and Reid Bassinger of Lee & Associates represented the seller, 2001 110th Street Grand Prairie LLC, in the transaction. Todd Hubbard of NAI Robert Lynn represented the buyer, Dealer Industries LLC, a Carrollton-based research and consulting firm.

March 29, 2018

Acquisitions Multifamily Texas

JLL Arranges Sale of 82-Unit Apartment Community in McAllen, Texas

by Taylor Williams March 29, 2018

MCALLEN, TEXAS — JLL has arranged the sale of Kerria Square, an 82-unit multifamily community located in the Rio Grande Valley (RGV) city of McAllen. Built in 2014, the property was 95 percent occupied at the time of sale. A pair of private investors purchased the community from Kerria Square Development LLC for an undisclosed price. Zar Haro and Moses Siller of JLL represented the buyer in the transaction.

March 29, 2018

Acquisitions Healthcare Texas

Dallas County Approves $83M Sale of Former Parkland Memorial Campus to Dreien

by Taylor Williams March 28, 2018

DALLAS — Dallas County has approved the $83 million sale of the former Parkland Memorial medical campus in northwest Dallas to Dreien Opportunity Partners, according to the March 27 agenda from the county commissioners. Dreien is a development group headed by Dallas magnate Sam Ware that is also working to redevelop the Collin Creek Mall in Plano. The company is financing the acquisition in part by leasing 560 parking spaces currently used by Parkland employees. Plans for the redevelopment of the 38-acre campus, which was owned by Parkland, include condos, apartments and a hotel.

March 28, 2018

Acquisitions Multifamily Texas

S2 Capital Acquires 793-Unit Apartment Community in Southwest Houston

by Taylor Williams March 28, 2018

HOUSTON — S2 Capital, a multifamily investment firm based in the Dallas area, has acquired Brompton Court Apartments, a 793-unit multifamily community located near Texas Medical Center in southwest Houston. Built in 1973, the three-story property offers multiple pools, a fitness center and on-site laundry services. S2 Capital, which acquired the property from CMS Brompton Court LP, will upgrade the unit interiors and communal amenities. Mark Brandenburg of JLL arranged acquisition financing for the deal through Voya Investment Management LLC.

March 28, 2018

Civic Development Texas

Cadence McShane to Build 527,000 SF High School Campus in Sherman

by Taylor Williams March 28, 2018

SHERMAN, TEXAS — Cadence McShane Construction Co. will build a new, 527,000-square-foot campus for Sherman High School in north Texas. Designed by VLK Architects, the campus will include three main academic buildings, a 2,000-seat stadium, an 800-seat auditorium, a competition gym and four practice gyms, competition baseball and softball fields and a 50,000-square-foot fieldhouse. The project is being financed through a $176 million bond package approved by City of Sherman voters in November 2017. According to the Sherman Herald Democrat, the campus will be complete in time for the 2020 school year.

March 28, 2018

Industrial Leasing Activity Texas

Tellworks Communications Signs 722,733 SF Industrial Lease in Arlington

by Taylor Williams March 28, 2018

ARLINGTON, TEXAS — Atlanta-based inventory management firm Tellworks Communications has signed a 722,733-square-foot industrial lease at Park 20/360 in Arlington. The company will occupy all of Building 1 at the 1.6 million-square-foot development, which is located at the northwest corner of Interstate 20 and State Highway 360. John Brewer and Joe Rudd of Transwestern represented the landlord, a partnership between Invesco Real Estate and Ridge, the industrial development arm of Transwestern. Ryan Keiser of CBRE represented Tellworks Communications.

March 28, 2018

Acquisitions Multifamily Texas

Marcus & Millichap Arranges Sale of 138-Unit Apartment Property in San Angelo, Texas

by Taylor Williams March 28, 2018

SAN ANGELO, TEXAS — Marcus & Millichap has arranged the sale of Alamo Village, a 138-unit multifamily property located in the West Texas city of San Angelo. The property was built in 1977 and consists of one-, two- and three-bedroom units. William Stover and Mike Moffitt of Marcus & Millichap represented the seller, a partnership, in the transaction. The duo also procured the buyer, a private investor. Both parties requested anonymity.

March 28, 2018

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