LEWISVILLE, TEXAS — Venture Investment Sales has brokered the sale of an 8,700-square-foot retail center in Lewisville. The property’s location at 5040 State Highway 121 is adjacent to Grandscape, a 400-acre mixed-use development. Tenants include T-Mobile, Chipotle Mexican Grill and Texas Direct Auto. John Zikos, Jonathan Cooper and Don Miller of Venture represented the seller. A local family trust purchased the asset for an undisclosed price.
KATY, TEXAS — NewQuest Properties has unveiled plans for the Phase II expansion of Katy Grand, a 21.7-acre, cinema-anchored retail development in Katy. Phase II will deliver 36,000 square feet of retail and restaurant space on 7.4 acres in late fall. Leases with three new tenants — Japanese book retailer Kinokuniya, Taiwanese eatery 85C Bakery Café and Kula Revolving Sushi Bar — have already been signed.
FORT WORTH, TEXAS — Sundance Square, the developer of downtown Fort Worth’s main entertainment district of the same name, has acquired the Petroleum Building, a 117,000-square-foot office asset. XTO Energy, a division of ExxonMobil, sold the building for an undisclosed price and will continue to occupy the space until summer as it relocates roughly 1,600 jobs from Fort Worth to Houston. The property occupies a full city block at West Sixth Street between Houston and Throckmorton streets in downtown Fort Worth. The sale includes a 534-space parking garage situated adjacent to the building. Ryan Matthews of JLL brokered the sale on behalf of XTO Energy, which has now sold four office properties totaling 281,204 square feet in Fort Worth.
DALLAS — Stillwater Capital has broken ground on The Crosby, a 336-unit multifamily complex located at 400 S. Hall St. in the Deep Ellum district of Dallas. Designed by Dallas-based HLR Architects Inc., the building will feature 3,000 square feet of co-working space, a rooftop deck and lounge, a dog park, pool, fitness center and bike storage services. Units will include studio, one- and two-bedroom residences ranging in size from 535 to 1,176 square feet. A timetable for completion has not yet been established.
FORT WORTH, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Ranch at Fossil Creek, a 274-unit multifamily property located on Fort Worth’s north side. The property was built in 2002. Will Balthrope, Drew Kile and Joey Tumminello of IPA represented the seller, Connecticut-based Beachwold Residential LLC. The group also procured the buyer, Frisco-based CAF Capital Partners LLC.
PFLUGERVILLE, TEXAS — Texas Realty Capital (TRC) has arranged the $11 million refinancing of 130 Commerce Center, a 230,000-square-foot industrial/office property located in Pflugerville on Austin’s north side. Minneapolis-based Thrivent Financial provided the loan, which features a 10-year term and a fixed interest rate, on behalf of an undisclosed, out-of-state borrower.
HOUSTON — Boyd Commercial has negotiated a 45,025-square-foot industrial lease at 9725 Kirkton Drive on Houston’s northwest side. Greg Barra and Mike Boyd of Boyd Commercial represented the tenant, Erne Fittings USA, a manufacturer of pipe fittings for permanent welds. Ryan Wasaff and Brad Berry represented the landlord, Welcome Group, internally.
FRISCO, TEXAS — Stream Realty Partners and Boston-based Cabot Properties have broken ground on a 160,000-square-foot industrial property within Frisco Park 25, a 216-acre business park located in the northern Dallas metro of Frisco. The Class A property will serve as the new corporate headquarters for PowerSecure Lighting, a manufacturer of LED lighting products. The company will occupy 75,000 square feet at the property as the anchor tenant. Completion of the project, which is being built on a 10-acre site that Cabot acquired from the Frisco Economic Development Corp., is slated for this summer.
AUSTIN, TEXAS — Mason Joseph Co. Inc., a San Antonio-based multifamily lender, has closed a $38.4 million loan for the construction and permanent financing of Commons at Goodnight Apartments, a 304-unit multifamily community being built in Austin. The financing was secured through HUD’s 221(d)(4) program, which provides construction-to-permanent financing for the development of market-rate and affordable housing properties. The loan, which was secured on behalf of a public-private partnership between the Austin Affordable Housing Corp. and Louisville-based developer LDG Multifamily LLC, features a fixed interest rate for the 24-month construction period and subsequent 40-year term. The borrowers are also using equity from Boston Financial Investment Management LP in the form of Low-Income Housing Tax Credits to develop Commons at Goodnight. A joint venture between Louisville-based Xpert Design & Construction LLC and Indiana-based Weber Group Inc. will serve as general contractor on the project.
AUSTIN, TEXAS — CBRE has brokered the sale of Market at Parmer, a 122,349-square-foot shopping center located on Austin’s north side. San Antonio-based grocer H-E-B anchors the property, which was about 96 percent leased at the time of sale. Other tenants at Market at Parmer include Anytime Fitness, Pet Supplies Plus and Twin Liquors. Chris Cozby, Chris Gerard and Blaine Dozier of CBRE represented the undisclosed seller in the transaction. Other terms of sale were not released.
