DALLAS — WeWork has leased 84,000 square feet of office space at Thanksgiving Tower in Dallas from Woods Capital. WeWork, which offers collaborative work spaces for teams of any size, plans to occupy three floors of the newly renovated office tower in spring 2017. Dallas-based Woods Capital acquired Thanksgiving Tower in 2013 and since then has implemented a more than $35 million renovation program at the property.
ARLINGTON AND IRVING, TEXAS — Stream Realty Partners has arranged two sales of industrial properties in Texas totaling 19,344 square feet. In the first deal, Howell Properties LLC sold a 12,344-square-foot warehouse property located at 2901 Galleria Drive in Arlington to NP Arlington Industrial LLC for an undisclosed sum. Matt Dornak and Luke Davis of Stream Realty Partners represented the seller, while Coy E. Garrett & Associates represented the buyer in the transaction. In the second deal, Midnight Mechanics Inc. acquired a 7,000-square-foot industrial property located at 1720 Peters Road in Irving from BLJC PPTIES LCC for an undisclosed price. Hanes Chatham of Stream Realty Partners represented the buyer, while Henry S. Miller Brokerage represented the seller in the transaction.
HOUSTON — ARA Newmark has secured a $22.2 million construction loan for The Icon, a 380-bed student housing development located within walking distance of the University of Houston campus. David Schwarz and Spencer Hough of ARA Newmark secured the loan on behalf of the borrower, Tier One Group, through an undisclosed regional debt fund. The five-story property will feature a resort-style pool, business center, conference room, game room, lounge area, fitness center, fire pit and a covered outdoor bar with gas grills and a refrigerator. Tier One expects to deliver the project in time for fall 2017 classes.
LEANDER, TEXAS — Cypress Equities has opened Crystal Falls Town Center, a 12.7-acre retail center located at the corner of Lakeline Boulevard and Crystal Falls Parkway in Leander. A 63,182-square-foot Randalls Food Market anchors the 93,642-square-foot center. Additional tenants include Orange Theory Fitness, Jack Brown Cleaners, La Bella Nails and Spa, ABC Liquor, Tomlinson’s Feed, Cost Cutters, GNC and Apple Springs Family Dentistry. SRS Real Estate Partners has been retained to lease the property.
FRISCO, TEXAS — Venture Commercial Real Estate has arranged the sale of a single-tenant, net-leased LA Fitness in Frisco. The 38,000-square-foot gym anchors the Frisco Market Center, a 100-acre mixed-use development located at Main Street and Dallas North Tollway. John Zikos, Jonathan Cooper, Christopher Gibbons and Don Miller of Venture Commercial represented the seller, Hermansen Land Development Inc., in the sale. The name of the buyer and the acquisition price were not released.
MCKINNEY, TEXAS — Lee & Associates has arranged a 63,000-square-foot lease expansion and extension for Popular Ink at 2040 Redbud Drive in McKinney. Popular Ink offers custom flexible packaging printing for a variety of products, including sleeves, boxes, pouches and labels. Brett Lewis, George Tanghongs and Adam Graham of Lee & Associates represented the landlord, Dalfen, while Carey Cox Co. represented the tenant in the transaction.
DALLAS — Stream Energy has relocated to 55,226 square feet of office space located at 14675 Dallas Parkway in Dallas. Stream Energy is a leading company in energy, connected life services and direct selling. Jon Silberman with NAI Partners, along with Van Power and David Schrock of NAI Robert Lynn, represented the tenant, while the landlord, Cawley Partners, was represented internally by Jeremy Duggins.
ARLINGTON, TEXAS — Younger Partners has brokered the sale of a three-building light industrial property located at 801-805 E. Avenue H in Arlington. C&L Partnership Ltd. acquired the 80,199-square-foot property from Avenue H Partners LLC for an undisclosed price. At the time of sale, the multi-tenant property was 97 percent occupied. Hahn Franklin-Mitchell of Younger Partners, along with Zane Marcell and Dustin Volz of JLL, represented the seller in the deal.
BAYTOWN, TEXAS — Newmark Grubb Knight Frank (NGKF) has brokered the sale of an industrial land site located at 850 Independence Parkway N. in Baytown. Avera Cos. acquired the 41.7-acre site at the entry of the Houston Ship Channel for an undisclosed price. The U.S. Army Corps of Engineers has permitted the land for four distinct lease areas, including the Barge Terminal and Fleeting Army, dredge material placement area, potential reclaimed land, and future fuel and deep-water terminal distribution facility. The land provides a deep-water terminal space with prominent pipeline corridor access. Doug Nicholson and Rob Stillwell of NGKF represented the undisclosed seller in the deal.
OKARCHE, OKLA. — CBRE has arranged the acquisition of an industrial property located at 7180 NW Expressway in Okarche. Baptist General Convention of the State of Oklahoma purchased the 16,456-square-foot building from Felix OK Holdings LLC for $1.3 million. Randy Lacey of CBRE’s Oklahoma City office represented the buyer, while Scott Wieczorek of GBR Properties represented the seller in the transaction.
