AUSTIN, TEXAS — ClearDATA, which is a health care cloud-computing software and service provider, has leased 10,536 square feet of office space at the Scarbrough Building, located at 522 Congress Ave. in Austin. Jason Steinberg and Matt Levin of ECR represented the unnamed landlord. Keith Zimmerman with Oxford Commercial represented the tenant.
HOUSTON — Gracie Barra Heights, a Brazilian Jiu-Jitsu association with over 500 schools on six continents, has leased 22,500 square feet of retail space at 4721 N. Main St. in Houston from Braun Enterprises. Josh Friedlander of NewQuest Properties represented the tenant. John Delarosa of Vanguard Commercial Group represented the landlord.
DALLAS — Swagit Productions, which specializes in streaming media for government and TV stations, has leased 22,618 square feet of office space at North Central Plaza III, located at 12801 Central Expressway in Dallas. Kent Smith of NAI Robert Lynn negotiated the lease with Laura Maczka and Mark Jordan of JP Realty Partners / Sooner Management.
DALLAS — The Beck Group has broken ground on a 43,770-square-foot aquatics center at Southern Methodist University in Dallas. Designed by Brinkley Sargent Wiginton Architects, the new facility will be located on SMU’s East Campus next to a DART rail line. The aquatics center will provide facilities for practice, competition and community use. The two-story collegiate competition swimming and diving center will be designed to emulate the Georgian style of the main campus with an Olympic-sized, eight-lane indoor pool; diving platform well with four springboards and a 10-meter tower for training and competition; fixed bleacher seating for 800 spectators; men’s, women’s and visitor locker rooms; meeting space and classrooms; and coaches’ offices. Construction of the aquatics center is scheduled to begin in March and will be complete in August 2017.
DALLAS — Construction has begun on Residence Inn Dallas/Southwest – Oak Cliff. Scheduled to open in mid-2017, the development will be a 103-room all-suite hotel located in the Canyon in Oak Cliff, a mixed-use development near the intersection of I-30 and North Westmoreland Road. The Canyon in Oak Cliff is a 200-acre development that will have 7,500 residential units, 1.2 million square feet of office space and 800,000 square feet of retail. Two multifamily communities totaling 290 units have already completed construction. The four-story hotel will contain a fitness center, pool, lobby market and 600 square feet of meeting space. Amenities include complimentary breakfast, free Wi-Fi and evening social events. Each unit will include a full kitchen with dining bar, bathroom with walk-in shower, sofa and desk. Civitas Capital Group and Atlantic Hotels Group are co-developing the project, and the property will be managed by an affiliate of Atlantic Hotels. Centennial Bank is providing senior financing for the project, and Civitas Capital is providing a mezzanine loan. EJES is the architect on the project, and Shahzay Construction is the general contractor.
ROUND ROCK, TEXAS — Brennan Investment Group has purchased a 200,411-square-foot vacant industrial facility previously occupied by Sysco Foods. The facility, located in Round Rock, will be redeveloped into a food processing facility. The project involves converting the building into food preparation space, as well as other upgrades. The property is a Class B cold storage and distribution center, but will be converted into a Class A food process facility upon completion. Brennan Investment Group, a Chicago-based private real estate investment firm, acquires, develops and operates industrial properties in major metropolitan markets throughout the United States.
MCALLEN, TEXAS — Marcus & Millichap has arranged the sale of Crossings Apartments, a 62-unit apartment property located at 1401 Dove Ave. in McAllen. Mike Moffitt Jr. of Marcus & Millichap’s Austin office and William Stover Jr. with the firm’s San Antonio office marketed the property on behalf of the seller, a private investor. Moffitt and Stover also secured the buyer, a partnership. Built in 1979, Crossings Apartments includes 16 one-bedroom units spanning 639 square feet, and 46 two-bedroom units spanning 780 square feet.
ARLINGTON, TEXAS — Brian Gramlich of BMC Capital’s Dallas office has arranged a one-year, $1.4 million loan for the purchase of a multi-tenant retail property in Arlington known as Lake June. The interest-only loan was closed at a 72 percent loan-to-value ratio. The loan was arranged through one of BMC Capital’s correspondent lending relationships.
GARLAND, TEXAS — Waterton, a real estate investor and operator, has acquired Parkside at Firewheel, a 594-unit rental community located in the Dallas suburb of Garland. Built in two phases in 2007 and 2013, the community is adjacent to the Firewheel Town Center, a 1 million-square-foot regional shopping center that includes more than 125 storefronts and 70,000 square feet of office space. Parkside at Firewheel also offers access to nearby employment centers including the Telecom Corridor and CityLine, a 186-acre mixed-use development in nearby Richardson. Parkside at Firewheel includes a mix of studio, one-, two- and three-bedroom residences ranging in size from 569 to 2,457 square feet. Shared amenities include two swimming pools, a pair of fitness centers, a wellness studio and a grilling/patio area. When the community was built, 30 percent of the units in each phase were finished with a higher-quality interior package that includes hardwood-style flooring and upgraded kitchens with stainless steel appliances, granite countertops and tile backsplashes. As the property’s new owner, Waterton plans to update the remaining 70 percent of units to offer a similar level of finishes.
MCKINNEY, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap serving institutional and major private real estate investors, has negotiated the sale of a 30-acre development site along State Highway 121/U.S. Highway 75 corridor in McKinney. The site is located at 5401 Collin McKinney Parkway, one block north of State Highway 121, two miles west of Highway 75 and east of the Dallas North Tollway. The site is adjacent to the master-planned Craig Ranch community.
