ARLINGTON, TEXAS — KW Commercial has brokered the sale of an office and retail property located at 1215 W. Randol Mill in Arlington. Acupuncture & Allergy Center sold the 1,512-square-foot property for an undisclosed price. David Tuttle of KW Commercial represented the seller and procured the undisclosed buyer in the deal.
HOUSTON — Provident Realty Advisors has completed the redevelopment of the former Texaco building in Houston as a luxury multifamily complex. The project costs were estimated at $95 million. The skyscraper, located at 1111 Rusk St., has been a historic landmark in Houston since its completion over 100 years ago. The 410,000-square-foot property was built in 1915, but has been vacant since 1989. The founders of Texaco originally commissioned the building, which the famed New York architectural firm Warren & Wetmore designed, according to the Houston Chronicle. The newly opened space, rebranded as The Star, offers 286 units ranging from 730 to 1,730 square feet with 21,000 square feet of street-front retail. The property features one- and two-bedroom units with bed-to-bath parity. Community amenities include a hotel-style lobby lounge, complimentary coffee and snack bar, 24/7 concierge and free valet services. Beginning this spring, the property will also offer a fitness center with on-demand cardio and spin classes; resort-style courtyard with heated pool, summer kitchen, gas grills and cabanas; climate-controlled storage area; media/theater room; covered dog run and grooming station; and business center. The 16th floor of the building will feature a recreation area including a two-story foyer, club room, commercial demonstration kitchen, …
FORT WORTH, TEXAS — IKEA has submitted a proposal to the City of Fort Worth for the development of IKEA Fort Worth on 27 acres at the southwest corner of Interstate 35 and North Tarrant Parkway in Fort Worth. Pending necessary approvals and agreement, construction of the retail location could begin in spring 2018, with an opening of summer 2019. The 289,000-square-foot store would offer 900 parking spaces and create more than 250 jobs upon opening. This location would be the third in the Dallas-Fort Worth area and the sixth in the state of Texas.
DALLAS — Pierson Retail Advisors and Vitorino Group have entered a definitive agreement to merge and combine operations. The merged companies will operate as Strive, a new full-service retail real estate brokerage firm headquartered in Dallas. Combined the two firms have sold close to $3 billion in commercial real estate. The merger will be complete by the summer, with plans to unveil the new branding and image by then. Jennifer Pierson leads Pierson Retail Advisors, and Jason Vitorino leads Vitorino Group.
AUSTIN, TEXAS — Equitable Commercial Realty (ECR) has arranged the sale of an office building located on Bee Cave Road in Austin. An undisclosed buyer acquired the 53,164-square-foot building. Matt Fain of ECR represented the buyer. The name of the seller and the acquisition price were not released.
OKLAHOMA CITY — CBRE has arranged four industrial leases in Oklahoma City totaling 97,392 square feet. In the first lease, Mick’s Vault Works leased 6,000 square feet of industrial space at 13915 N. Harvey Ave. from HUDICO. In the second lease, Terra Pilot MWD Tools renewed a lease for 5,030 square feet of industrial space at 5 N. Cooley Drive from TIC – 485 Fall Creek LLC & Desert Mountain Investments. In the third deal, CentiMark Corp. leased 5,936 square feet of space at 14800 Bristol Park from Pinnacle Investments. Jason Hammock, Caitlin Mazaheri and John Lenochan of CBRE represented the landlords in all three deals. In the final transaction, Biagi Warehouse leased 80,426 square feet of industrial space at 6001 SW 36th St. from GIJV OKC 1. David Portman of CBRE represented the landlord in the deal.
EL PASO, TEXAS — Retail Solutions has opened an office in El Paso. With offices in Austin, Houston, Dallas, San Antonio, McAllen and Midland, Texas, the commercial real estate company handles the leasing and sale of approximately 750 commercial spaces across Texas and Louisiana. Additionally, the company represents more than 250 retail and restaurant brands in the two states and across the country. Chris Duncan is Retail Solutions’ market leader at the new El Paso location.
BENBROOK, TEXAS — OM Housing LLC is developing Villas at Boston Heights, an eco-friendly, affordable housing multifamily complex located at 3510 Boston Ave. in Benbrook, approximately eight miles from downtown Fort Worth. KWA Construction has started construction on the $28 million, 165,000-square-foot garden-style property, which is expected to open in December. Designed by BGO Architects, the property will feature 130 affordable units, 14 market-rate units, a community center, fitness center, computer learning center, community kitchen, swimming pool, barbecue and picnic area and a playground for children.
JERSEY VILLAGE, TEXAS — G.E.T. Enterprises has leased 201,600 square feet of industrial space at 7401 Security Way in Jersey Village. The supplier of serving ware, drink ware and tabletop solutions is expanding and relocating its facility to the new space within Prologis Park Jersey Village. Walker Barnett and Ryan Byrd of Colliers represented the tenant, while Joseph Smith and Billy Gold of CBRE represented the landlord, Prologis NA2 Texas LLC, in the lease transaction.
IRVING, TEXAS — Rubicon Representation, along with NAI Robert Lynn, has arranged the sale of two office and flex buildings located in the Las Colinas area of Irving. The properties total 92,000 square feet of space. Kyle Jacobs and Graham Perry of Rubicon Representation represented the undisclosed seller, while Zach Stevens of NAI Robert Lynn represented the undisclosed buyer. The acquisition price was not released.
