Texas

Parkside-Dallas

DALLAS — A partnership between KDC and Pacific Elm Properties has broken ground on Parkside, a 500,000-square-foot office development located at the corner of North Harwood Street and Woodall Rodgers Freeway in Uptown Dallas. Bank of America has committed to be the building’s anchor tenant with a 238,000-square-foot lease, and upon move-in, the building will become known as Bank of America Tower at Parkside. The development will be home to 1,000 Bank of America employees upon completion, which is expected for the first half of 2027.  Designed by New York-based architect Kohn Pedersen Fox, the 30-story tower will feature a conference center with a training room that seats 50; pre-function and lounge space; an executive board room; break-out chat rooms; a state-of-the-art fitness center; private outdoor terraces; and a 12th-floor sky lobby and lounge with a coffee and cocktail bar.  The development is located across the street from the 5.2-acre Klyde Warren Park, which connects uptown and downtown Dallas. The tower also offers easy access to a variety of transportation options, including the M-Line Trolley, which connects to a nearby DART Rail System station. The full development team includes Miyama USA Texas, Kohn Pedersen Fox, Corgan and OJB.  Andy Leatherman …

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Bryan Rader Multifamily WiFi Pavlov Media

Multifamily residents want to take their internet connections with them beyond their unit’s four walls and throughout the complex. The National Multifamily Housing Council has found for years that 90 percent of renters say good internet access is a necessity. But the meaning of good connectivity has changed. “Ten, fifteen or twenty years ago, the most popular trend was cocooning — where people would go to work, come home and run into their apartment. They’d close the door, and you wouldn’t hear or see from them again until the next day,” says Bryan Rader, president of MDU at internet service provider Pavlov Media. “Today, multifamily renters spend more time around the community,” he continues. “Developers are playing to that lifestyle change by building amenities and encouraging residents to spend time together. Having a really strong managed Wi-Fi network that is safe, secure and authenticates the user is very valuable.” Put more simply, Wi-Fi within amenities is important to renters. Take fitness centers, for example. When was the last time you saw anyone on a treadmill without headphones relaying music from the internet through a phone or tablet? The move toward property-wide internet demand started in universities as students needed internet …

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FreezPak-Logistics-Baytown

BAYTOWN, TEXAS — Bank OZK and PGIM Real Estate have provided $75.9 million in construction financing for a 281,849-square-foot cold storage facility that will be located on a 30.7-acre site within TGS Cedar Port Industrial Park in the eastern Houston suburb of Baytown. Bank OZK provided a $50 million senior loan for the development, and PGIM provided the remaining $25.9 million. The borrower and developer is Philadelphia-based BG Capital. New Jersey-based FreezPak Logistics will operate the facility, which will house a range of temperature-controlled spaces to accommodate operations such as storage, processing, packaging and distribution. Completion is slated for next August.

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FORT WORTH, TEXAS — Atlanta-based investment and development firm Stonemont Financial Group has sold a newly built, 218,000-square-foot industrial building in North Fort Worth. Dot Foods purchased the building for an undisclosed price, and its subsidiary, OmniCable, will become the facility’s new tenant. Blaine Kelly of CBRE represented OmniCable and Dot Foods in the transaction. Becky Thompson of Lee & Associates represented Stonemont. The deal was finalized before the completion of construction, which began in mid-2022.

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MISSOURI CITY, TEXAS — Colliers has negotiated a 131,112-square-foot industrial lease at Cravens Logistics Center, a 249,370-square-foot development located in the southwestern Houston suburb of Missouri City. The newly built facility sits on 17.6 acres and features 36-foot clear heights, 180-foot truck court depths and 49 trailer parking spaces. John Nicholson of Colliers represented the landlord, Johnson Development, in the lease negotiations. The tenant was mattress and bedding products provider Nap Queen.

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HOUSTON — Car dealership Group 1 Automotive has signed a 45,330-square-foot office lease at Town Centre Two, a 167,141-square-foot building that is under construction in West Houston. Bob Cromwell and Kevin Nolan internally represented the landlord, Moody Rambin, in the lease negotiations. Andrew Iversen, Joshua Brown and Audrey Selber of Newmark represented the tenant. Town Centre Two, which is scheduled to be complete before the end of the year, is now 68 percent preleased.

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OKLAHOMA CITY — Veritas Development has added three new retailers to the tenant roster at OAK, a 20-acre mixed-use project in Oklahoma City. Kitchenware and home furnishings retailer Williams Sonoma will open a 5,500-square-foot store. Tommy Bahama Marlin Bar will open an 8,000-square-foot restaurant and bar, and Pottery Barn has committed to a 12,420-square-foot space. The retailers, which join tenants such as Mesero, RH, Arhaus and Capital Grille, all plan to debut in fall 2024.

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Cravens-Logistics-Center-Missouri-City

MISSOURI CITY, TEXAS — Colliers has secured a 118,258-square-foot industrial lease at Cravens Logistics Center, a 249,370-square-foot development located in the southwestern Houston suburb of Missouri City. The newly built facility sits on 17.6 acres and features 36-foot clear heights, 180-foot truck court depths and 49 trailer parking spaces. John Nicholson of Colliers represented the landlord, Johnson Development, in the lease negotiations. The tenant was medical supplies provider Optimal & Medpro.

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ROUND ROCK, TEXAS — Desi Brothers Farmers Market will open a 47,814-square-foot grocery store at Round Rock Crossing on the northern outskirts of Austin. Britt Morrison and Nick Naumann of Weitzman represented the undisclosed landlord in the lease negotiations. Michael DuBois of Dallas-based Pride Commercial Properties represented Desi Brothers. Other tenants at Round Rock Crossing include Target, Best Buy, Michaels and Salons by JC. The opening is slated for some time next year.

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HOUSTON — A subsidiary of national homebuilder Meritage Homes (NYSE: MTH) has signed a 17,899-square-foot office lease renewal at Reserve at Westchase, a 194,919-square-foot building in Houston’s Westchase District. Jack Scharnberg and John Heard of Transwestern represented the undisclosed landlord in the lease negotiations. Neil Elliott, Dustin Cruz and Lawson Martin of Cresa represented the tenant. Reserve at Westchase is currently undergoing a capital improvement program to upgrade the lobby and other common areas.

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