Texas

KDC Breaks Ground on $52M Headquarters for Independent Bank in McKinney

by Taylor Williams January 18, 2018

MCKINNEY, TEXAS — KDC has broken ground on the new, 165,000-square-foot corporate headquarters for Independent Bank Group, a subsidiary of regional lender Independent Bank. The Dallas Business Journal reported in July that the project is valued at roughly $52 million. The six-story property will be situated on 10.4 acres within the Craig Ranch Corporate Center in McKinney, a northern suburb of Dallas. Approximately 400 employees are expected to occupy the property upon completion, which is slated for December.

January 18, 2018

DC Partners Nears Groundbreaking of 162-Room Hotel in San Antonio’s RiverWalk Area

by Taylor Williams January 18, 2018

SAN ANTONIO — Houston-based DC Partners will develop Thompson San Antonio Hotel, a 162-room hospitality project that will be located in the RiverWalk area of San Antonio. The 20-story property will also include 58 residences. Amenities will include 5,000 square feet of meeting space, a pool with cabanas and a bar, fitness center and a spa. Construction is expected to begin within the next month, according to realtynewsreport.com.

January 18, 2018

Retail Texas

HFF Negotiates Sale of 22,434 SF Shopping Center in San Antonio

by Taylor Williams January 18, 2018

SAN ANTONIO — HFF has negotiated the sale of Nacogdoches Crossing, a 22,434-square-foot shopping center located at 6826 N. Loop 1604 in northeast San Antonio. The property, which is shadow-anchored by a Walmart Supercenter and leased to tenants such as Taco Cabana and Rolling Oaks Dental, includes two acres of development-ready land that can accommodate about 19,000 square feet of additional retail space. John Taylor and Drew Fuller of HFF represented the seller, Santikos Real Estate Services, a San Antonio-based retail developer, in the transaction. A private investor purchased the asset free and clear of debt for an undisclosed price.

January 18, 2018

Affordable Housing Multifamily Texas

CBRE Brokers Sale of 100-Unit Affordable Housing Community in South Dallas

by Taylor Williams January 18, 2018

DALLAS — CBRE has brokered the sale of Rosemont at Timber Creek, a 100-unit affordable housing community in south Dallas. The property was built in 2003 and was 99 percent occupied at the time of sale. Amenities include a pool, playground, fitness center and business center. Jeff Kunitz, Alex Medeiros, Chris Deuillet and Chandler Sims of CBRE represented the seller, Cascade Affordable Housing, in the transaction. Minnesota-based Dominium Development and Acquisition purchased the property for an undisclosed price.

January 18, 2018

Industrial Self-Storage Texas

Marcus & Millichap Arranges Sale of 305-Unit Self-Storage Facility in Metro Houston

by Taylor Williams January 18, 2018

BAYTOWN, TEXAS — Marcus & Millichap has arranged the sale of A Low Cost Self Storage, a 305-unit self-storage facility in the Houston metro of Baytown. The sale of the 35,214-square-foot property includes 1.5 acres of expansion land fronting State Highway 146. Dave Knobler of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Knobler also procured the buyer, an individual who owns 14 self-storage facilities along the Texas Gulf Coast operating under the name The Storage Place.

January 18, 2018

Multifamily Texas

JPI to Develop 741-Unit Apartment Community in Farmers Branch

by Taylor Williams January 17, 2018

FARMERS BRANCH, TEXAS — JPI will develop Jefferson East Branch, a 741-unit multifamily community that will be located in the northern Dallas metro of Farmers Branch. The property will be situated near Addison Circle, a development that spans 500,000 square feet of office space and 120,000 square feet of retail space. Construction of Phase I, which will deliver 390 units, is slated to begin in late 2019, with the first occupancy scheduled for summer 2020. Construction of Phase II, which will deliver 351 units, is expected to begin during the spring of 2020.

January 17, 2018

Loans Multifamily Texas

KeyBank Secures $22.5M Acquisition Loan for 360-Unit Multifamily Asset Near Oklahoma City.

by Taylor Williams January 17, 2018

MOORE, OKLA. — KeyBank Real Estate Capital has secured $22.5 million in acquisition financing for The Villas at Countryside, a 360-unit multifamily community in Moore, a southern suburb of Oklahoma City. The property was built in 2002 and consists of 21 three-story buildings situated on 18.6 acres. Chris Black and Caleb Marten of KeyBank secured the Fannie Mae loan, which features a five-year term, two years of interest-only payments and a 30-year amortization schedule.

January 17, 2018

Industrial Texas

Richland Acquires 74,462 SF Industrial Property in Houston

by Taylor Williams January 17, 2018

HOUSTON — The Richland Cos. has acquired 8100 Westpark, a 74,462-square-foot industrial property situated on 3.9 acres in Houston. The property offers access to the Sam Houston Tollway and Southwest Freeway, and features 18-foot clear heights, nine rear-load, dock-high doors and semi-dock and grade-level loading bays. The property, which marks Richland’s 15th acquisition in Houston, was 100 percent leased at the time of sale to tenants such as Hoffer Furniture, Pak Man Supply and DragoArt Tattoo Supply.

January 17, 2018

Industrial Lee & Associates Texas

Lee & Associates Negotiates 49,280 SF Industrial Lease in Arlington

by Taylor Williams January 17, 2018

ARLINGTON, TEXAS — Lee & Associates has negotiated a 49,280-square-foot industrial lease at 2023 Exchange Drive in Arlington. Mark Graybill and Colton Rhodes of Lee & Associates represented the landlord, GLP, a provider of global logistics solutions, in the lease negotiations. Conrad Madsen and Greg Nelson of Paladin Partners represented the tenant, Prestige Autotech Corp. a California-based provider of automotive wheels.

January 17, 2018

Retail Texas

TREK Brokers Sale of 8,200 SF Retail Center in North Austin

by Taylor Williams January 17, 2018

AUSTIN, TEXAS — TREK Investment Group has brokered the sale of Tech Ridge Center, an 8,200-square-foot retail center in north Austin. Built in 2017, the Class A center was 100 percent leased at the time of sale to Orangetheory Fitness, Smoothie King and Mattress One. Parker Carroll of TREK represented the undisclosed buyer in the transaction. Other terms of sale were not released.

January 17, 2018

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