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MultifamilyTexas

ZOM Living Breaks Ground on $45M Apartment Community in McKinney

by Taylor Williams

MCKINNEY, TEXAS — Orlando-based multifamily developer ZOM Living has broken ground on The KINSTEAD, a $45 million, garden-style apartment community in McKinney. The 376-unit property will comprise six three-story buildings, the first units of which are scheduled for a first-quarter 2018 delivery. Amenities will include a coffee bar, yoga or spin room and sports simulator. Stanford Construction will serve as general contractor for the project, which is ZOM Living’s fifth in the Dallas area and 10th overall in Texas.

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IndustrialTexas

Huntington to Develop 248,825 SF Industrial Property in Garland

by Taylor Williams

GARLAND, TEXAS — Huntington Industrial Partners will develop Shiloh Distribution Center, a two-building, 248,825-square-foot industrial property that will be located along Shiloh Road in the Dallas metro of Garland. The cross-dock property will feature 32-foot clear heights and an ESFR sprinkler system, as well as a total of 183 parking spaces and 64 dock-high doors. A timetable for construction has not yet been established.

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MultifamilyTexas

Marcus & Millichap Brokers Sale of 130-Unit Apartment Complex in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of Normandale Place Apartments, a 130-unit multifamily complex located at 8713 S. Normandale St. in Fort Worth. The property offers a mix of studio, one- and two-bedroom units. Mark Allen of Marcus & Millichap represented the seller and procured the buyer, an undisclosed partnership and limited partnership, respectively.

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RetailTexas

Ace Hardware Franchisee Purchases 62,000 SF Retail Asset in Borger, Texas

by Taylor Williams

BORGER, TEXAS — Arquero Property Management, a franchisee of Ace Hardware has purchased a 62,000-square-foot retail property located at 1404 W. Wilson St. in Borger, a city in West Texas approximately 50 miles northeast of Amarillo. Andrew Shaw and Dan Avnery of NAI Robert Lynn represented Ace Hardware in the transaction. Tom Roller of Coldwell Banker represented the undisclosed seller.

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HealthcareTexas

Global Medical REIT Acquires 59,000 SF Hospital in Austin for $40.6M

by Taylor Williams

AUSTIN, TEXAS — Maryland-based Global Medical REIT Inc. has acquired Central Texas Rehabilitation Hospital, a 59,000-square-foot healthcare property located at 700 W. 45th St. in Austin, for roughly $40.6 million. The inpatient hospital features 50 beds and is leased to a joint venture between subsidies of healthcare providers Kindred Healthcare and Seton Healthcare.  

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RetailTexas

Glowzone to Open 52,525 SF Facility in Northwest Houston

by Taylor Williams

HOUSTON — Glowzone, a family entertainment concept that features a ropes course, mini-golf and bumper cars, will open a 52,525-square-foot facility at 13150 Breton Ridge St. in northwest Houston. Balaxi One Breton Ridge LLC owns the big box property, having recently purchased it from Breton Ridge TX LLC. Randy Hopper and Gunnar Holman of JLL represented the seller in that transaction.  

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LoansMultifamilyTexas

Arbor Realty Trust Provides $24M Refinancing for Apartment Community in San Antonio

by Taylor Williams

SAN ANTONIO — Arbor Realty Trust Inc., a publicly traded REIT and direct lender, has provided a $24 million loan for the refinancing of Manor at Castle Hills, a 306-unit apartment community in San Antonio. Located at 1835 Lockhill Selma Road, the property offers amenities such as a pool, cyber café, billiards room, spa and a dog park. The 10-year, fixed-rate loan features a 30-year amortization schedule.

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RestaurantRetailTexas

Fast Casual Eatery Gather Kitchen Opens Flagship Location in Downtown Dallas

by Taylor Williams

DALLAS — Gather Kitchen, a fast casual restaurant specializing in locally sourced items, has opened its flagship location at Thanksgiving Tower in downtown Dallas. The 2,400-square-foot restaurant will feature a bakery, outdoor seating area and floor-to-ceiling windows with views of the CBD. Greg Pierce and Ryan May of CBRE represented Gather Kitchen in the lease negotiations. Jack Gosnell and Amy MacLaren, also of CBRE, represented the landlord, Woods Capital Management.

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RetailTexas

Venture Commercial Arranges Sale of 4,600 SF Retail Center Near Grandscape

by Taylor Williams

LEWISVILLE, TEXAS — Retail brokerage firm Venture Commercial has arranged the sale of a 4,600-square-foot retail center located at 5020 State Highway 121 in the Dallas metro of Lewisville. The property is adjacent to Grandscape, a 433-acre development owned by Berkshire Hathaway and anchored by Nebraska Furniture Mart. John Zikos, Jonathan Cooper and Don Miller of Venture Commercial represented the seller, NDC Holdings, in the transaction. Austin-based management firm Mutyala Properties purchased the asset for an undisclosed price.

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