Texas

Gauge-Southgate-Houston

HOUSTON — Locally based developer Gauge Real Estate Partners has begun construction of a 192,660-square-foot industrial project in southeast Houston. Gauge Southgate will consist of three front- and rear-load buildings that will range in size from 33,600 to 81,900 square feet and feature 28- to 32-foot clear heights, as well as a total of 49 dock-high doors, 139 car parking spaces and roughly 7,500 square feet of office space. Stream Realty Partners is marketing the project for lease. Delivery is slated for the second quarter of 2025.

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AUSTIN, TEXAS — Stream Realty Partners has negotiated a 120,440-square-foot industrial lease in southeast Austin. The tenant, shipping logistics company Hotline Delivery Systems, is taking space at ATX 130, a four-building, 602,4000-square-foot development. Lena Thomas and Ryan Boozer of Stream represented the tenant in the lease negotiations. AQUILA Commercial represented the landlord, North Texas-based Jackson-Shaw, which broke ground on ATX 130 in spring 2023.

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MIDLAND, TEXAS — Marcus & Millichap has brokered the sale of the Baymont Inn & Suites Midland Center, a 76-room hotel in West Texas. The three-story hotel was built in 2016 and offers amenities such as a hot breakfast bar, business center and a fitness center. Allan Miller of Marcus & Millichap represented the undisclosed seller in the transaction and procured an out-of-state private investor as the buyer. Chris Gomes of Marcus & Millichap assisted in closing the deal as the supporting broker.

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Northport-Logistics-Center-Conroe

CONROE, TEXAS — BroadRange Logistics has signed a 1.2 million-square-foot industrial lease in Conroe, about 40 miles north of Houston. The third-party freight company is taking the entirety of Northport Logistics Center, which features 40-foot clear heights, 190-foot truck court depths, 273 trailer parking stalls and 224 loading dock doors. J.R. Wright and Russell Hofstetter of Atlanta-based Strategic Real Estate Partners represented the tenant in the lease negotiations. Nathan Wynne, Jason Dillee and Ed Frantz of CBRE represented the landlord, a partnership between locally based developer Lovett Industrial and private investment firm Cresset Partners. Construction of Northport Logistics Center began in September 2022.

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Crown-Centre-II-Lewisville

LEWISVILLE, TEXAS — Locally based developer Bright Realty has completed Crown Centre II, a $50 million office project located in the northern Dallas suburb of Lewisville. The four-story, 147,000-square-foot building is situated within Bright’s Crown Centre mixed-use development. Dallas-based Rudick Construction Group served as general contractor for the project, construction of which began in April 2023. Crown Centre will ultimately feature up to 2,000 multifamily units, 3 million square feet of office space, 500 hotel rooms and 140,000 square feet of retail, restaurant and open green space.

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SUGAR LAND, TEXAS — CBRE has brokered the sale of First Colony Commons, a 379,829-square-foot retail center located in the southwestern Houston suburb of Sugar Land. Seafood City anchors the property, which was 97 percent leased at the time of sale. Mark Witcher, Chris Cozby, Jim Batjer, Harrison Tye and Jolie Duhon of CBRE represented the seller, TriGate Capital, which bought the property seven years ago, in the transaction. Ryan Watson of CBRE arranged acquisition financing on behalf of the buyer, Dhanani Private Equity Group.

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AUSTIN, TEXAS — Locally based investment firm Resolute Capital Partners has purchased Thornton Flats, a 104-unit apartment complex located in south-central Austin. Built in 2017, the garden-style property offers one- and two-bedroom units that feature private balconies/yards. Amenities include a courtyard with a kitchen, fire pit and hammocks, as well as a lounge, business center and a dog park. Patton Jones and Andrew Dickson of Newmark represented the undisclosed seller in the transaction.

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FORT WORTH, TEXAS — California-based brokerage firm Faris Lee Investments has arranged the $4 million sale of an 6,300-square-foot retail building in Fort Worth’s Golden Triangle area. Built in 2019, the pad structure is positioned near a Walmart Supercenter and was fully leased at the time of sale to Dunkin’, Golden Triangle Dental, Rosati’s Pizza and Bazooka Charlie’s Barber. Scott DeYoung, Jeff Conover and Greg Lukosky of Faris Lee represented the seller, a national developer, in the transaction. The buyer was a California-based 1031 exchange investor.

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Music-Lane-Austin

By Burdette Huffman, executive vice president, Blue Ox Group Why are people drawn to spend money and time at certain places in a city? What makes someone want to do their shopping, stop for coffee or plan a date night at one spot versus another? Sometimes, it’s a special location or an emotional connection to a particular vendor. But in many instances, the draw is entirely by design. It’s an intentional, strategic urban planning tactic that’s been around for decades, and it’s called placemaking. What Is Placemaking?The concept of placemaking has been around since the 1960s thanks to urban planning pioneers and was bolstered in the 1990s by the smart growth agenda of organizations like the Urban Land Institute. In modern parlance across the state, it’s not much different. Put simply, placemaking is about creating a special place where people want to be. Placemaking is about imagining and then developing a place where parents might want to grab coffee after dropping their kids off at school. Or it’s a place where date nights happen because there’s a great new spot for dinner and maybe space to take a walk or grab a drink afterward. If it’s executed correctly, it’s the …

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700-River-Austin

AUSTIN, TEXAS — A partnership between High Street Residential, MSD Partners and River Street Partners has begun leasing 700 River, a 43-story apartment tower in Austin’s Rainey Street District. The 500-foot building houses 377 units in a mix of studio to three-bedroom residences, as well as several penthouses and 3,400 square feet of retail space. In addition, 700 River features more than 30,000 square feet of indoor and outdoor amenity space. HKS is the project architect, and DPR Construction is the general contractor. Construction began in fall 2022, and the topping out occurred earlier this year. Rents start at roughly $3,000 per month for a studio apartment.

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