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

Development Industrial Self-Storage Texas

The Jenkins Organization to Open 1,022-Unit Self-Storage Facility in Austin

by Taylor Williams March 27, 2018

AUSTIN, TEXAS — The Jenkins Organization, a Houston-based developer and operator of self-storage facilities, will open ATX Storage, a 1,022-unit facility in Austin, on March 31. Construction of the property, which features 110,025 square feet of net rentable space, began in March 2017. The Jenkins Organization will also open another Austin facility, the 736-unit Lakeline Storage, on March 31. With these two facilities coming on line, the company now operates 45 properties across five states.

March 27, 2018

Acquisitions Multifamily Texas

Transwestern, S2 Capital Acquire 464-Unit Apartment Community in Metro Fort Worth

by Taylor Williams March 27, 2018

BEDFORD, TEXAS — A partnership between Transwestern Investment Group and S2 Capital LLC has acquired Oak Creek Apartments, a 464-unit multifamily community in Bedford, a northeastern suburb of Fort Worth. The Class B property was acquired on behalf of one of the funds managed by the partnership. The community consists of 61 buildings and was 92 percent occupied at the time of sale. Taylor Snoddy, Philip Wiegand and James Roberts of Transwestern represented the undisclosed seller in the transaction.

March 27, 2018

Acquisitions Industrial Office Texas

Hartman REIT Acquires 96,660 SF Flex Property in Metro Dallas

by Taylor Williams March 27, 2018

RICHARDSON, TEXAS — A subsidiary of Hartman Income REIT Management Inc. has acquired Richardson Tech Center, a 96,660-square-foot flex property in Richardson, a northeastern suburb of Dallas. The multi-tenant property consists of four buildings. Zane Marcell and Dustin Volz of JLL represented the undisclosed seller in the transaction. David Wheeler and Russell Turman represented Hartman internally. HFF arranged acquisition financing for the deal through Southside Bank.

March 27, 2018

Industrial Leasing Activity Texas

HSM Secures 39,646 SF Industrial Lease for Roofing Supplier in Dallas

by Taylor Williams March 27, 2018

DALLAS — Dallas-based brokerage firm Henry S. Miller (HSM) has secured a 39,646-square-foot industrial lease in Dallas for ABC Supply Co. Inc., a wholesale distributor of roofing and siding products. Dan Spika of HSM represented ABC Supply in the lease negotiations for the warehouse space at 4884 Duncanville Road. Matt Elliott of NAI Robert Lynn represented the landlord, Texas Industrial Development LLC. The property features 1,380 square feet of office space, seven dock-high doors and access to Interstate 20 and U.S. Highway 67.

March 27, 2018

Leasing Activity Office Texas

Colliers Negotiates 21,816 SF Office Lease Expansion in Metro Dallas

by Taylor Williams March 27, 2018

GRAPEVINE, TEXAS — Colliers International has negotiated a 21,816-square-foot office lease expansion at 2200 W. Airfield Drive in the Dallas metro of Grapevine on behalf of software firm DexYP. The company now occupies 449,040 square feet at the property, which was built in 1979 and features a fitness center, café and auditorium. Bob Acuff and Tom Sutherland of Colliers represented DexYP in the lease negotiations. D.J. Decker of CBRE represented the landlord, Verizon Realty Corp.

March 27, 2018

Development Retail Texas

RED Development Breaks Ground on Three Retail Buildings at Rayzor Ranch in Denton

by Taylor Williams March 26, 2018

DENTON, TEXAS — RED Development has broken ground on three new multi-tenant retail buildings within Rayzor Ranch Town Center, a 600,000-square-foot mixed-use development in Denton. The buildings are partially preleased to Zoe’s Kitchen, Massage Envy and Sprint. Construction of a 40,000-square-foot building preleased to Rooms To Go is also underway at Rayzor Ranch, which will also welcome an eight-screen Alamo Drafthouse Cinema and a 7,500-square-foot Cheddar’s Scratch Kitchen this summer. A 41,000-square-foot Andy B’s gaming venue and restaurant is also under construction and slated to open in early 2019.

March 26, 2018

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