HOUSTON — Moody Rambin has negotiated an 18,500-square-foot industrial lease at 10810 Train Court in northwest Houston. Josh Marcell and Ryan Fassett of Moody Rambin represented the tenant, Mayekawa USA Inc., a Tennessee-based manufacturer of refrigerator compressors, in the lease negotiations. The landlord, Clay-CMBS #2 LP, was represented internally by Charlie Crist.
Among professionals in the major sectors of commercial real estate, retailers are often the first to spot, understand and respond to emerging trends in human behavior. Those trends have shifted dramatically the past few years, and retail real estate in Austin has certainly felt the ripple effects, from downtown to the suburbs and across the emerging “nodes” in between. For some time now, American consumers in general have been clearly indicating their preference for more “experiential” ways to shop or receive services. That said, smart developers know that the experience begins well before shoppers enter a retailer’s doors. And understanding how to best cater to emerging demands helps breed success, not only for tenants, but also for the project as a whole. The following three trends represent key ways in which consumer demand is driving change in Austin’s retail landscape and illustrate how the market is responding. Seamless Integration Consumers want retail options located within close proximity to where they work and live — all the better if the property housing these needs can be one and the same. Just as Austin has grown regionally, so has demand for retail space, giving rise to mixed-use projects throughout the city. In …
AUSTIN, TEXAS — HFF has arranged the sale of Lantana Ridge, a 168,293-square-foot office property in southwest Austin that houses the current headquarters of YETI, a designer and distribution of outdoor and recreational products. Amenities at the two-building property include an outdoor kitchen, rooftop terrace, fitness center, jogging trails and an outdoor games center. Dallas-based Ramrock Real Estate LLC purchased Lantana Ridge from Lincoln Property Co. for an undisclosed price.
BEDFORD AND FORT WORTH, TEXAS — Transwestern has brokered the sale of two multifamily communities totaling 796 units in the Fort Worth area. An undisclosed local investment partnership purchased the 464-unit Oak Creek in Bedford and the 332-unit Oakland Hills in Fort Worth. Taylor Snoddy, Philip Wiegand and James Roberts of Transwestern represented the seller, Madera Residential, in the portfolio transaction. The new ownership has since rebranded the assets as Morgan Apartments and Asher Apartments, respectively.
BLUM, TEXAS — MYCON General Contractors has broken ground on a 57,000-square-foot manufacturing facility for DynaEnergetics, a supplier of oilfield products and an affiliate of Colorado-based metalworking firm DMC Global Inc. The facility will be located in Blum, about 50 miles south of Fort Worth. Completion is slated for mid-summer.
DALLAS — Holt Lunsford Commercial has secured a 135,405-square-foot industrial lease at 8801 Autobahn Drive in south Dallas. Canon Shoults and John Gorman of Holt Lunsford represented the landlord, TA Associates. Michael Chiocca of CBRE represented the tenant, custom cabinet manufacturer Sunrise Wood Designs LLC.
FARMERS BRANCH, TEXAS — CBRE has negotiated the sale of Huntington Cove, a 100-unit townhome rental community in Farmers Branch. The property was built in 1982 and was 96 percent occupied at the close of sale. Chris Deuillet, Danny Baker and Chandler Sims of CBRE represented the seller, SPI Advisory, in the transaction. Huntington Cove Townhomes LLC purchased the property for an undisclosed price.
GRAND PRAIRIE, TEXAS — A joint venture between aircraft manufacturer Airbus Helicopters and French aerospace firm Thales Group will develop and operate a $40 million training facility at Airbus Helicopter’s headquarters in Grand Prairie. The facility will have the capacity to train several thousand pilots and maintenance personnel per year. It will also house the flight simulator for the H160, the latest helicopter model being developed by Airbus. A timetable for construction has not yet been established.
LAREDO, TEXAS — California-based Majestic Realty Co. will develop a 423,280-square-foot warehouse within Port Grande, a 1,992-acre, master-planned business park located in the south Texas city of Laredo. The project represents Phase II of development and follows the delivery of 366,080-square-foot building that still has 200,000 square feet available for lease. The new building will feature 32-foot clear heights, 120 dock-high doors, four ground-level doors, 242 trailer parking spaces and 208 automobile parking spaces. A firm timetable for construction has not yet been established.
FORT WORTH, TEXAS — Hunt Southwest will develop a 300,000-square-foot cold storage facility in southern Fort Worth. The property, which is being built on a speculative basis, will be located within Carter Industrial Park with convenient access to Interstates 35 West and 20. Features of the rail-served building will include 45-foot clear heights, LED lighting, ample automobile and trailer parking and the capacity to accommodate one or two tenants. Hunt Southwest expects to obtain a building permit in approximately two months and deliver the facility within nine months of starting construction.