ADDISON, TEXAS — JLL has brokered the sale of Quorum II Plaza, a 77,319-square-foot shopping center in the northern Dallas metro of Addison. Built on 5.7 acres in 1981, the center is home to tenants such as Verizon Wireless, Salata, Tasty Tails, Sellinger’s Powergolf, Tiff’s Treats and Jimmy John’s. Adam Howells, Barry Brown, Chris Gerard and Erin Lazarus of JLL represented the seller, Los Angeles-based Westwood Financial Corp., in the transaction. Last Mile Investments purchased the center for an undisclosed price.
FORT WORTH, TEXAS — Sunon Furniture has signed a 34,175-square-foot industrial lease in North Fort Worth. The Asian furniture manufacturer will use the space within Building 4 at the 61.4-acre Basswood 35 Business Park as a national distribution center. Todd Lambeth and Luke Clardy of Bradford Commercial Real Estate Services represented Sunon Furniture in the site selection and lease negotiations. Todd Hubbard and Joe McLiney of NAI Robert Lynn represented the landlord, Mississippi-based EastGroup Properties.
MANSFIELD, TEXAS — Locally based brokerage firm STRIVE has arranged the sale of Owen Plaza, an 11,944-square-foot retail property in Mansfield, about 20 miles southwest of Dallas. The multi-tenant property was fully leased at the time of sale. Parker Tims and Jennifer Pierson of STRIVE represented the seller, an undisclosed local investor, in the transaction. The buyer was also not disclosed.
MIDLAND AND ODESSA, TEXAS — Dallas-based investment firm AVAD Capital has purchased a portfolio of nine self-storage facilities totaling 5,180 units in the West Texas cities of Midland and Odessa. Utah-based REIT Extra Space Storage sold the portfolio, which totals 782,998 net rentable square feet. Steve Mellon, Brian Somoza, Adam Roossien and Matthew Wheeler of JLL represented Extra Space Storage in the transaction. The sales price was not disclosed. Avid Storage, the buyer’s wholly owned subsidiary and operating brand, will operate the portfolio. John Bauman, Kris Lowe, Luke Rogers and Scott Cole, also with JLL, arranged an undisclosed amount of fixed-rate acquisition financing for the deal through 3650 Capital and Goldman Sachs.
CYPRESS, TEXAS — Trammell Crow Co. (TCC) has broken ground on a 628,012-square-foot industrial project in Cypress, a northwestern suburb of Houston, that represents the third and final phase of Weiser Business Park. Designed by Seeberger Architecture with construction to be handled by A&F General Contractors, Buildings 5 and 6 at Weiser Business Park will feature 36-foot clear heights, 54-foot-wide column spacing and ESFR sprinkler systems. Colliers is marketing the buildings for lease. Cadence Bank is financing Phase III. Weiser Business Park currently consists of four buildings totaling approximately 1 million square feet.
DALLAS — CBRE has brokered the sale of Villa Ladera, a 184-unit apartment complex in East Dallas. Built in 1972, Villa Ladera is a gated, pet-friendly community that offers one- and two-bedroom units as well as onsite laundry facilities. Chris Deuillet and Matthew Pastrano of CBRE represented the undisclosed seller in the transaction and procured the buyer, Blue Ocean Real Estate. Josh Berde, Andrew Woertendyke and Peyton Chur, also with CBRE, arranged an undisclosed amount of acquisition financing for the deal through an unnamed lender.
SOUTHLAKE, TEXAS — GI Alliance Management LLC, a network of medical providers focused on gastroenterology, has signed a 52,300-square-foot office lease in Southlake, located northeast of Fort Worth. The space is located within Cedar Ridge Office Park, a two-building, 128,000-square-foot complex. John Dickenson, Paul Hernandez and Matt Carthey of Holt Lunsford Commercial represented the landlord in the lease negotiations. Jordan Wade, John Huff, Allie McCracken, Cece Conway and Larry Serota with Transwestern represented the tenant.
HOUSTON — Locally based brokerage firm Oxford Partners has arranged the sale of a 41,450-square-foot industrial building in northwest Houston. According to LoopNet Inc., the building at 14199 Westfair Drive E was constructed on 2.7 acres in 2008 and features 28-foot clear heights. Perry Mazzone and Matt Rogers of Oxford Partners represented the buyer, Immobile Industrial LLC, in the transaction. Wyatt Huff, Hunter Stockard and Gray Gilbert of Partners Real Estate represented the undisclosed seller.
By Taylor Williams According to the results of Texas Real Estate Business’ annual reader forecast survey, to many commercial brokers and owners in Texas, the change of power in the White House is very much a good thing. In the survey, respondents across a wide range of commercial jobs, practices and asset classes shared expectations for 2025 across an even wider range of topics. But as is usually the case every fourth December, it was the results of the presidential election that generated the most insight and feedback from participants. Like the man himself, the commentary on Donald Trump was often polarizing, but it’s a welcome respite from years of focusing on inflation and interest rates. Across two separate surveys, 45 brokers and owners/developers answered, via free-response format, the same question of how Trump’s re-election would impact the industry in the short run. Though in their entirety, responses ran the gamut from effusive to disheartened and everything in between — with many respondents unsurprisingly opting to remain anonymous — the overall resulting feeling is clearly one of optimism. During his first term as president, Trump, a major commercial developer himself, routinely pressured the Federal Reserve to lower interest rates, which …
DALLAS — Locally based investment firm S2 Capital has purchased Landmark at Gleneagles, a 590-unit apartment community in North Dallas. According to Apartments.com, the property offers one- and two-bedroom units that range in size from 683 to 1,300 square feet. Amenities include a fitness center, business center, pool, playground, basketball court, tennis court, game room, lounge and outdoor grilling and dining areas, according to Apartments.com, which also noted that the property has been rebranded as The Monte. S2 Capital purchased the asset as part of a sale of a larger, 1,768-unit portfolio that included four properties in Tennessee.