DALLAS — California-based investment firm Provender Partners has acquired a 185,569-square-foot cold storage facility in southwest Dallas. According to commercialcafé.com, the property at 5225 Investment Drive was built on 12.3 acres in 1986. Provender Partners, which acquired the facility as part of a $50 million portfolio deal, has also entered into a sale-leaseback agreement with the undisclosed seller. Chris Robinson of Fischer Co. and Scott Delphey with Food Properties Group represented both parties in the portfolio sale.
HOUSTON — Audubon Engineering Co. has signed a 71,879-square-foot office lease for its new corporate headquarters at 3505 W. Sam Houston Parkway N in West Houston. The 227,045-square-foot building was constructed in 2013 and offers a cafeteria, fitness center and outdoor gathering and amenity spaces. Reggie Beavan, Joshua Brown and Audrey Selber of Newmark represented the tenant in the lease negotiations. Russell Hodges and Bubba Harkins of CBRE represented the landlord, Israeli investment firm Azrieli Group.
SPRING, TEXAS — Dallas-based brokerage firm STRIVE has negotiated the sale of two multi-tenant retail properties totaling 20,000 square feet in the northern Houston suburb of Spring. Both properties were built in 2022 within Woodson’s Reserve, a master-planned community by Toll Brothers Inc., and are fully leased to a mix of fitness, medical, food-and-beverage and service-oriented users. Jake Dutson of STRIVE represented the seller, Houston-based developer DeisoMoss, in the transaction. The buyers were not disclosed.
HOUSTON — Texas Medical Center, The University of Texas MD Anderson Cancer Center (MD Anderson), Texas A&M University Health Science Center and The University of Texas Health Science Center at Houston have opened the TMC3 Collaborative Building in Houston. The building is the first project completed within Helix Park, a life sciences campus spanning 37 acres and approximately 5 million square feet of planned development. At full build-out, the Helix Park campus will also offer a 700,000-square-foot industry research building called Dynamic One, six future industry and institutional research buildings, a hotel, a residential tower and a mixed-use building with retail space. Helix Park will also include 18.7 acres of green space across six public parks, which will link together in a double helix configuration. Each park will comprise approximately 55,000-square feet. The parks will offer gathering space, water features, cafes, retail shops and other public spaces. Individual gardens will be available as event spaces. The TMC3 Collaborative Building comprises 250,000 square feet at the heart of Helix Park. According to the Texas Medical Center, the property was designed to foster collaboration between academic institutions and industry partners. The building offers purpose-built wet laboratories, as well as office and co-working space. The building will …
FORT WORTH, TEXAS — Hillwood has purchased a full city block in downtown Fort Worth from local energy provider Oncor. The site is bounded by 6th and 7th streets to the north and south and by Calhoun and Jones streets to the east and west. Specific development plans for the property are still under review, but Hillwood plans to consider an array of land use and development options that will complement existing trends in downtown Fort Worth. Jon McNeil and Ryan Matthews of JLL represented Oncor, which has owned the site for the last couple decades, in the disposition.
DALLAS — Transwestern Real Estate Services (TRS) has negotiated the sale of Bellrock Bishop Arts Apartments, a 207-unit multifamily complex located on the southwestern outskirts of downtown Dallas. Built in 2012, the property offers amenities such as a pool, fitness center, dog park, outdoor grilling stations and grills, clubhouse and a social lounge. Units come in one- and two-bedroom floor plans, according to Apartments.com. Tyler Gauntt, Rye Hinkle, Chris Stutzman and Bryan McMurrey of TRS represented the buyer, The Paskin Group, in the transaction. The buyer executed the deal via a 1031 exchange and has since rebranded the property, which was 95 percent occupied at the time of sale.
THE WOODLANDS, TEXAS — A joint venture between Dallas-based hospitality owner-operator NewcrestImage, Dabu Group and Preeminent Hotels has acquired a 180-room, dual-branded hotel in The Woodlands, about 30 miles north of Houston. The property consists of a 90-room Courtyard by Marriott hotel and a 90-room Residence Inn by Marriott hotel. Amenities at the Courtyard include a fine dining restaurant, Starbucks coffee shop, fitness center, business center and an indoor pool, while the Residence Inn also offers an indoor pool and fitness center, as well as tennis courts and grilling stations. The new ownership plans to implement a capital improvement program.
HOUSTON — Lowe’s Outlet has opened a 41,453-square-foot store at Champions Village, a 383,346-square-foot retail power center in northwest Houston. The North Carolina-based home improvement retailer backfilled a space previously occupied by Stein Mart. The opening precedes the 2024 debuts of Hibbett Sports and soul food restaurant The Greasy Spoon at the center. The owner of Champions Village, First National Realty Partners, also recently reached long-term extension agreements with two anchor tenants, grocer Randalls and Barnes & Noble.
AUSTIN, TEXAS — Law firm Fee, Smith & Sharp has signed a 10,517-square-foot office lease renewal in southwest Austin. The firm is taking space at the 167,369-square-foot Uplands 1, which was renovated in 2019. Matt Frizzell and Kevin Granger of Cushman & Wakefield represented the landlord, San Francisco-based Drawbridge Realty, in the lease negotiations. John Scoblick and Jerry Frey of Savills represented the tenant.
Today’s accelerating technology transformation is altering how the commercial real estate industry executes transactions and manages assets. “The amount of information that a multifamily borrower needs to submit and disclose has become more demanding over time,” says William (Bill) Hyman, a Lument senior managing director who oversees the firm’s strategic business technology transformation and conventional loan production. “That has made due diligence more complex and data intensive, and we wanted to create a more secure and expedient way to tackle that process.” Seeing this need, Lument responded by creating a suite of proprietary technology tools. Across the industry, the advent of online, friendlier multifamily loan application and servicing processes has not only eliminated the transfer of sensitive information through email by moving the processes to secure portals, but it has also streamlined common paper-based, time-consuming and burdensome tasks. That has translated into much speedier decisions about loans and responses to questions and requests. LeapOnline Beginnings Lument is a commercial real estate finance solutions provider based in New York that specializes in Fannie Mae, Freddie Mac, Federal Housing Administration and balance sheet lending. The company’s digital transformation began in 2017. At the time, the company saw the opportunity to better …