Texas

Oden Hughes Breaks Ground on 300-Unit Apartment Community in South Austin

by Taylor Williams March 8, 2018

AUSTIN, TEXAS — Oden Hughes LLC has broken ground on a 300-unit apartment community on 14.6 acres at 135 Foremost Drive in south Austin. The community, which is scheduled to open in 2019, will offer one-, two- and three-bedroom units as well as two-bedroom townhomes. Rents are expected to range from roughly $1,127 per month to just under $2,000 per month. Amenities will include a resort-style pool with two cold spas and cabanas, a 24-hour fitness center, a sky lounge and a dog park. The project marks the sixth community that Oden Hughes has built in south Austin in as many years. This community has yet to be branded.

March 8, 2018

Texas

Wolff Cos. to Develop 84-Acre Cricket Complex in Houston

by Taylor Williams March 8, 2018

HOUSTON — Wolff Cos. will develop Prairie View Cricket Complex, an 84-acre athletic facility that will be located at the interchange of U.S. Highway 290 and Liendo Parkway in Houston. In January, Wolff sold the 68-acre Liendo Park and an adjoining 16-acre tract to Houston businessman Tanweer Ahmed, who plans to have two cricket fields ready for play next month and all 12 to 14 fields ready by the second quarter of 2019.

March 8, 2018

Loans Multifamily Texas

LMI Capital Arranges $6M Acquisition Loan for Apartment Community in Houston

by Taylor Williams March 8, 2018

HOUSTON — LMI Capital has arranged a $6 million loan for the acquisition of a 100-unit apartment community in the Heights area of Houston. The loan featured a fixed 4.76 percent interest rate and a 10-year term. Jamie Safier of LMI Capital placed the loan on behalf of the undisclosed borrower. The lender and the name of the property were also withheld.

March 8, 2018

Office Texas

Hines Completes 48-Story Office Tower in Houston’s CBD

by Taylor Williams March 7, 2018

HOUSTON — Hines has completed 609 Main at Texas, a 48-story office tower in Houston’s CBD. The Class A property totals 1.85 million square feet and features 28,000-square-foot flexible floor plates, under-floor HVAC systems and floor-to-ceiling glass. In addition, the podium of the building allows for concealed parking for 1,500 vehicles. Amenities include a café, fine dining restaurant, a shared conference facility and a fitness center. Pickard Chilton and Kendall/Heaton Associates both provided architectural services for the project and Harvey Builders served as general contractor. The property will serve as the regional headquarters for United Airlines, which will bring approximately 1,400 employees from other offices into the building.

March 7, 2018

Mixed-Use Texas

Manhattan Breaks Ground on $105M Mixed-Use Project in Metro Dallas

by Taylor Williams March 7, 2018

GRAPEVINE, TEXAS — Manhattan Construction has broken ground on a $105 million mixed-use project in Grapevine, just north of Dallas-Fort Worth (DFW) International Airport. The transit-oriented development will connect Grapevine to both DFW International Airport and downtown Fort Worth. Project elements will include a 38,000-square-foot outdoor plaza, a 42,000-square-foot rail station, a 121-room Hotel Vin and a 552-space parking garage. Construction is expected to be complete by late 2019.

March 7, 2018

Industrial Texas

JLL Negotiates Sale of 289,000 SF Manufacturing Plant in South Dallas

by Taylor Williams March 7, 2018

DALLAS — JLL has negotiated the sale of a 289,000-square-foot manufacturing plant located at 4949 Joseph Hardin Drive in south Dallas. The sale includes 24 acres contiguous to the facility. The property is rail-served and offers convenient access to Interstates 20, 30 and 35. Dustin Volz, Zane Marcell and Grant Matthews of JLL represented the seller, Linron Properties, in the transaction. Polk Street Industrial acquired the asset for an undisclosed price.

March 7, 2018

Office Texas

CBRE Brokers Sale of 198,759 SF Office Property in Plano

by Taylor Williams March 7, 2018

PLANO, TEXAS — CBRE has brokered the sale of 1800 & 1820 Preston Park, a two-building, 198,759-square-foot office property in Plano. The Class A buildings were 81 percent leased at the time of sale to tenants such as American Flood Research, Arrow Electronics and Health Texas. Eric Mackey, Gary Carr, John Alvarado, Robert Hill, Evan Stone and Jared Chua of CBRE represented the seller, Alexander & Baldwin, in the transaction. Libitzky Property Cos. acquired the asset for an undisclosed price.

March 7, 2018

Multifamily Texas

Marcus & Millichap Arranges Sale of 396-Unit Apartment Portfolio in South Dallas

by Taylor Williams March 7, 2018

DALLAS — Marcus & Millichap has arranged the sale of the Woodhollow and Pebble Cove, two multifamily assets in Dallas. Both the 236-unit Woodhollow and the 160-unit Pebble Cove are located on the 4300 block of Woodhollow Drive on the city’s south side. Both properties were built in the 1960s and share a single access gate. Al Silva and Ford Braly of Marcus & Millichap represented the sellers, a local investor and a local partnership, in the portfolio transaction. Silva, Braly and Mark McCoy, also with Marcus & Millichap, procured the buyer, a private investor who plans to invest $7 million in renovations to the exteriors and unit interiors of both properties.

March 7, 2018

Industrial Office Texas

JLL Brokers Sale of 578,000 SF Flex Portfolio Near DFW Airport

by Taylor Williams March 6, 2018

COPPELL, TEXAS — JLL has brokered the sale of a three-building, 578,000-square-foot flex portfolio located near Dallas-Fort Worth (DFW) International Airport in Coppell. The portfolio consists of a 409,600-square-foot distribution warehouse, a 115,200-square-foot production warehouse and a 53,600-square-foot office building. The buildings were all 100 percent leased at the time of sale. John Huguenard and Dustin Volz of JLL represented the sellers, affiliates of Torrance, Calif.-based Transpacific Development Co., in the transaction. Irvine, Calif.-based LBA Realty purchased the portfolio for an undisclosed price.

March 6, 2018

Office Texas

SkyWalker Fund Acquires 141,840 SF Office Building in Northwest Houston

by Taylor Williams March 6, 2018

HOUSTON — A fund managed by Arlington-based SkyWalker Property Partners has acquired One Northwind Plaza, a 141,480-square-foot office building located at 7600 W. Tidwell Road in northwest Houston. The Class B mid-rise property was built in 1980 and offers proximity to Loop 610 and Beltway 8, as well as to walk-able retail and dining options. The new ownership will invest more than $1 million in capital improvements to the eight-story property. Aegon Asset Management, a global investment and management firm, sold the property for an undisclosed price. Rudy Hubbard, Kevin McConn and Rick Goings of JLL represented Aegon in the sale. Karen Kuczek of Pinnacle Bank’s Arlington branch secured acquisition financing for the transaction.

March 6, 2018

Newer Posts

Older Posts