AUSTIN, TEXAS — Austin-based developer Johnson Trube & Associates is developing Skyloft, a Class A student housing property one block from the University of Texas at Austin campus. Located at 507 W. 23rd St., the project will total 22 floors, with four below-grade parking levels and 18 residential levels. Skyloft will house 212 units with a mix of one- to four-bedroom units totaling 677 beds. The project will feature a rooftop pool and fitness center, 24-hour study lounges, media room and underground parking. A recent vote by the Austin City Council green-lighted the move of the historic Dabney-Horne home currently on the site, which is allowing the Johnson Trube development to move forward. The development will offer a percentage of its units as affordable housing. Johnson Trube & Associates plans to break ground in August with an opening scheduled for late July/early August 2018. Project team members include architectural firms Mark Hart Architecture and STG Design and general contractor JE Dunn Construction.
SAN ANTONIO — Somervell Commercial Realty has begun construction on GM Financial Servicing Center in San Antonio. The 100,000-square-foot, two-story facility is located on 13.8 acres in the Westover area at the intersection of North Ellison Drive and Westover Link. Somervell plans to complete the building in one year, after which the building will host 500 employees. The project received tax abatements from Bexar County and the city of San Antonio, as well as a $2.5 million grant from the Texas Enterprise Fund. The facility’s exterior walls will display a stone pattern created by reveals and at least two colors. Tinted green glass curtain walls will be located at two-story entry atriums on the north and south sides of the property.
SAN ANTONIO — Marcus & Millichap has arranged the sale of AT&T Distribution Center, a 131,755-square-foot industrial property located in San Antonio. Joshua Murphy of Marcus & Millichap’s San Antonio office marketed the property on behalf of the seller, a private investor. Jon Danklefs of Marcus & Millichap’s San Antonio office secured and represented the buyer, an individual/personal trust. AT&T Distribution Center is located at 827-829 AT&T Center Parkway. Built in 1975 on five acres, the property is adjacent to the AT&T Center in the northeast San Antonio industrial submarket.
CLUTE, TEXAS — Cencor Realty Services will soon open Phase I of Woodshore Marketplace, a 140,000-square-foot shopping center at the southeast corner of Oyster Creek and Dixie drives in the master-planned Woodshore community near Houston. The anchor for Woodshore Marketplace, a 124,000-square-foot Kroger Marketplace, is now open. In addition to the Kroger anchor, Phase I of Woodshore Marketplace will also feature 16,450 square feet of in-line space set to open later this spring, along with three pad sites for freestanding concepts. Steve Chandler, city partner for Cencor in Houston, is directing development of the community retail center. Randy Hopper and Kyle Knight with The Weitzman Group are the leasing agents for Woodshore Marketplace.
THE WOODLANDS, TEXAS — The Signorelli Co. has signed Academy Sports + Outdoors as the third anchor for Valley Ranch Town Center, a retail district inside the master-planned community of Valley Ranch. Academy’s 62,943-square-foot location will open during the third quarter. The 1,400-acre community is located at the intersection of US 59 North and the Grand Parkway in The Woodlands, just north of Kingwood. Also in negotiations are other big box retailers and smaller shops, a selection of restaurants, a multi-attraction cinema and a 10,000-seat amphitheater.
AZLE, TEXAS — Old Capital has provided a $1.7 million bridge loan for the purchase of Shady Creek Apartments, a 54-unit complex in Azle. A local ownership group bought the asset, which is located in a secondary submarket. Renovations are planned to increase rental rates.
DALLAS — All Risks Ltd. has leased 10,168 square feet at 3 Park Central located at 12700 Park Central Drive in Dallas. Younger Partners’ Heather Shover, Kathy Permenter and Sean Dalton represented the landlord, McKnight Realty Partners, in the extension of 5,110 square feet and expansion of 5,058 square feet for the wholesale specialty insurance broker.
IRVING, TEXAS — SMB Suite has leased 5,000 square feet of office space at One Panorama Center, located in Irving at 7701 Las Colinas Ridge. SMB Suite is a software developer providing cloud-based solutions. Todd Noonan and Tyler Maner of Stream Realty represented the tenant, while Nathan Durham and Duane Henley of Transwestern represented the landlord, Regent Properties, in the transaction.
OKLAHOMA CITY — Marcus & Millichap has arranged the sale of Mid America Business Park, a three-story, 84,373-square-foot office building located in Oklahoma City. Cody Payne of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a Fort Worth-based private partnership. The buyer is a private investor utilizing a 1031 tax-deferred exchange. Ron Hebert of Marcus & Millichap’s Dallas office partnered with Payne on the sale. Tom Mann of the firm’s Tulsa office is Marcus & Millichap’s broker of record in Oklahoma. Built in 2002, the property is located at 7919 Mid America Blvd., a few miles from downtown Oklahoma City. The Veterans Administration and CNI Administration Services anchor the property and account for 65 percent of the gross leasable area. Other tenants include AAR Services, Deaconess Home Care and Edward Jones.
ARLINGTON, TEXAS — General Assembly Inc. has leased a single-tenant building in Dallas’ Great Southwest Industrial District in a move that will keep its operations in Arlington and get the entire business under one roof. General Assembly will relocate its operations to 1011 Oakmead Drive. The 6,615-square-foot office/warehouse space, located near I-30, more than doubles the amount of warehouse space for the professional merchandising services firm, which supports the retail industry with locations in 19 states and the District of Columbia. The company assembles high-end consumer products. The headquarters team is moving from the Vandergriff Town Center at 200 N. Mesquite St. and warehouse workers are relocating from 320 Dixon Lane. The new location has two loading docks, grade-level doors and enough parking for the entire workforce. A local investor, who was represented by Jim Hazard of E. Smith Realty Partners in the lease deal, owns the new location.