Texas

Abby Development Breaks Ground on 234-Unit Apartment Community in Tyler

by Taylor Williams December 18, 2017

TYLER, TEXAS — Abby Development has broken ground on Auberge at Tyler, a 234-unit multifamily community located on Grand Boulevard near the intersection of Old Jacksonville Highway in Tyler, about 100 miles east of Dallas. Amenities will include a pool with swim-up tanning ledges, a stocked fishing pond, fitness center and yoga studio, a dog park, a resident lounge with a kitchen and coffee bar and a cabana area with flat-screen televisions. The community is expected to open during the second quarter of 2019.

December 18, 2017

Stream Completes Renovation of 549,000 SF Office Building in Dallas

by Taylor Williams December 18, 2017

DALLAS — Stream Realty Partners has completed the renovation of Pinnacle Tower, a 24-story, 549,000-square-foot office building located along the LBJ Freeway in Dallas. The yearlong project delivered upgrades such as new exterior lighting to showcase the design and a remodeled lobby with a Starbucks Coffee, full-service restaurant and outdoor patio. Other additional features include a tenant lounge, fitness center, conference center and shuttle service to and from the Galleria mall and local restaurants.

December 18, 2017

Retail Texas

Marcus & Millichap Closes Sale of 9,600 SF Retail Center in Denton

by Taylor Williams December 18, 2017

DENTON, TEXAS — Marcus & Millichap has closed the sale of Elm Street Center, a 9,600-square-foot retail property located at 1803 Elm St. in Denton. Built in 1975, the property was 85 percent leased at the time of sale to tenants such as Musician’s Hub, Orbit Press and Guatelinda Café. Lisa Estrada and Austin DiCambio of Marcus & Millichap represented the seller, an individual/personal trust, in the all-cash transaction. The property sold to an out-of-state buyer.

December 18, 2017

Industrial Office Texas

NAI Robert Lynn Secures 36,450 SF Flex Lease in Arlington

by Taylor Williams December 18, 2017

ARLINGTON, TEXAS — NAI Robert Lynn has secured a 36,450-square-foot industrial/office lease at 640 107th St. in Arlington. Michael Stanzel of NAI Robert Lynn represented the landlord in the lease negotiations. George Curry and Blake Rogers of JLL represented the tenant, Incab America LLC, a Georgia-based manufacturer of fiber optic cable.

December 18, 2017

Hospitality Oklahoma Texas

Home2 Suites by Hilton Opens 115-Room Hotel in Oklahoma City

by Taylor Williams December 18, 2017

OKLAHOMA CITY — Home2Suites by Hilton has opened a 115-room hotel located off Interstates 40 and 44 near Will Rogers Airport in Oklahoma City. The pet-friendly property features amenities such as a combined fitness and laundry area, an indoor saltwater pool and a fire pit and grill area. Suites offer fully equipped kitchens and modular furniture. Nashville-based Platinum Hospitality LLC will manage the property.

December 18, 2017

Industrial Texas

First Industrial Breaks Ground on 126,250 SF Distribution Center in Houston

by Taylor Williams December 15, 2017

HOUSTON — First Industrial Realty Trust Inc. has broken ground on First 290 @ Guhn Road, a 126,250-square-foot distribution center located at 6913 Guhn Road in northwest Houston. The front-load facility will feature 32-foot clear heights, an ESFR sprinkler system, 185-foot truck court, 137 parking stalls and up to 46 trailer stalls. Completion is slated for summer 2018. Stream Realty Partners will handle leasing of the facility.

December 15, 2017

Loans Multifamily Texas

Greystone Provides $36.4M Acquisition Loan for 384-Unit Apartment Community in Metro Houston

by Taylor Williams December 15, 2017

SPRING, TEXAS — Greystone has provided a $36.4 million bridge loan for the acquisition of Parkside Place Apartments, a 384-unit multifamily community in Spring, about 45 minutes north of Houston. The property features amenities such as a pool, demonstration kitchen, complimentary coffee bar, fitness and business centers, a movie-screening room with an arcade and a game room. Donny Rosenberg of Greystone originated the loan, which carries a two-year term with two six-month extensions, on behalf of Houston-based Ilan Investments.

December 15, 2017

Multifamily Texas

SWBC Sells Two-Property Multifamily Portfolio in Dallas Area for $100M

by Taylor Williams December 15, 2017

FLOWER MOUND AND GRAND PRAIRIE, TEXAS — Dallas-based SWBC Real Estate LLC has sold two multifamily properties totaling 662 units in the Dallas area for $100 million. Virginia-based Weinstein Properties purchased the 358-unit River Walk Village in Flower Mound and the 304-unit Timberview Ranch in Grand Prairie from SWBC. Construction of the two Class A properties was completed in 2016 and 2017, respectively. Will Balthrope, Drew Kile and Joey Tumminello of Marcus & Millichap’s Institutional Property Advisors (IPA) division brokered the sale.

December 15, 2017

Office Texas

Realty Capital Breaks Ground on 21,750 SF Office Building in Metro Dallas

by Taylor Williams December 15, 2017

FLOWER MOUND, TEXAS — Realty Capital Management has broken ground on Lakeside Professional Office, a 21,750-square-foot project in Flower Mound. The Class A property is being developed on a speculative basis. Bancorp South provided the construction loan for the project, which is expected to be complete by summer 2018.

December 15, 2017

Retail Texas

Fitness Connection Opens 55,000 SF Gym at Shops at Tech Ridge in Austin

by Taylor Williams December 15, 2017

AUSTIN, TEXAS — Fitness Connection has opened a 55,000-square-foot gym at Shops at Tech Ridge, a 504,153-square-foot shopping center on Austin’s north side. The club will offer a kids’ club with a movie theater, a women’s-only workout area, a sauna and a variety of group fitness classes. This is the second location that Fitness Connection has opened in Austin in the past year.

December 15, 2017

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