FORT WORTH, TEXAS — Greysteel has arranged the sale of The Brazos on Hulen, a 100-unit multifamily community in Fort Worth. Greysteel’s Boyan Radic, Doug Banerjee, Andrew Mueller and Ryan Hill represented the seller, Classic Asset Acquisition 3, in the sale of The Brazos on Hulen to Tyler Associates. The property includes 28 one-bedroom units, 56 two-bedroom/two-bathroom units, eight three-bedroom/two-bathroom units and eight three-bedroom/three-bathroom units.
DALLAS — Marcus & Millichap has arranged the sale of Illinois Gardens Apartments, a 36-unit apartment property located in Dallas. John Barker and Mark Allen of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a limited liability company. Illinois Gardens Apartments is located at 3333 E. Illinois Ave. in Dallas. Illinois Gardens is a two-story apartment community constructed of brick with wood siding. Unit amenities include walk-in closets and mini blinds. Common area amenities include an on-site laundry facility, interior courtyards and gated entry. Recent capital improvements include new pitched roofs, exterior wood replacement, cabinets, electrical outlets, flooring and both interior and exterior paint.
DALLAS — Equity Office has closed a new lease transaction with Sabre for 196,048 square feet in Solana Business Park in Dallas. Cushman & Wakefield’s Chris Taylor, Rodney Helm and Layne Mayfield represented Solana on the Sabre leasing transaction. Ryan Matthews and Cannon Camp of JLL represented Sabre, which inked a new deal to lease all of Building 2 at the Terrace at Solana, as well as the first three floors of Building 3. Solana Business Park is undergoing a $65 million campus renovation that modernizes the property’s original architectural design. The majority of the renovations are finished with final completion scheduled for mid-2016. Solana Business Park is a five-minute drive from Dallas/Fort Worth International Airport.
FORT WORTH, TEXAS — Texas Bank Financial has acquired a 47,830-square-foot, multi-tenant office building in southwest Fort Worth as the new headquarters location for its mortgage company. Executive Place, a two-story building located at 4521 S. Hulen St. near I-20, was 100 percent leased at the time of sale. The new owner’s first order of business will be to undertake a series of upgrades aimed at heightening curb appeal, including accentuating the exterior. In the fourth quarter of 2016, Texas Bank Mortgage Co. will move its 45-employee headquarters team into 18,000 square feet on the second floor from leased office space about two miles to the south. Gary Walker of Arlington-based Coldwell Banker Commercial Alliance DFW represented the buyer.
TEXAS CITY, TEXAS — Oldham Goodwin Group and MGroup will co-develop a multifamily project in the Lago Mar Development in Texas City. Catalon at Lago Mar will be a 230-unit, Class A community located at 6130 Lago Mar Blvd. near I-45. The community will feature a fitness center and outdoor pool. Oldham Goodwin’s development services division, in conjunction with MGroup, will be overseeing the development and construction management of the project. The project team selected FCI Multi-Family Construction to oversee construction. Construction for Catalon at Lago Mar is expected to begin Feb. 1, with a projected completion date in first quarter 2017.
AUSTIN, TEXAS — ARA Newmark has arranged the sale of Delwood Station Apartments, a 74-unit multifamily community located in Austin. Andrew Shih of ARA Newmark represented the seller, Curtis Capital Group, in the transaction. GVA, a local company, purchased the property at 99 percent occupancy. Constructed in 1969, Delwood Station is a recently remodeled, garden-style apartment community with a pool, fitness center, bike racks and rentable storage units.
HOUSTON — CBRE has completed an office lease renewal for InterMoor, a supplier of mooring technology, innovative solutions and equipment for permanent and temporary mooring systems. InterMoor occupies 20,923 square feet at Ashford 7, located at 900 Threadneedle St. in Houston. Kevin Saxe and Connor Tamlyn of CBRE represented InterMoor in lease negotiations with landlord, Accesso Partners, which was represented by Bob Cromwell with Moody Ramblin.
FORT WORTH, TEXAS — Transwestern has negotiated a 224,800-square-foot industrial lease for Anchor Fabrication Ltd. at 4600 Blue Mound Road in Fort Worth. The Texas-based metal fabrication company also has a manufacturing facility at 1200 Lawson Road in Fort Worth. Transwestern’s Sarah LanCarte represented the tenant. The city of Fort Worth owns the industrial facility.
CEDAR HILL, TEXAS — Grimaldi’s Pizzeria will open a 6,500-square-foot location at Hillside Village (formerly Uptown Village at Cedar Hill) in the summer of 2016. Grimaldi’s will be located in the former Patrizio’s space on the north side of the property. This fall, Hillside Village implemented a campaign to court a Grimaldi’s location in the development. More than 220 community members signed an on-property banner calling for Grimaldi’s and more than 600 expressed their support for a Grimaldi’s by posting comments and videos on social media using the hashtag #HVWantsGrimaldis. Hillside Village recently completed a multi-million dollar renovation at the property, which includes a new children’s play area, village green promenade, new property signage, new shaded seating areas, upgraded landscaping and lighting, public art and façade renovations. In April 2015, Trademark Property Co. rebranded the property Hillside Village.
HOUSTON — Dallas-based Fountain Residential Partners, in a joint venture development with Austin-based Virtus Real Estate Capital, will develop a student housing community for the University of Houston and nearby Texas Southern University. The Gateway on Cullen will be located on Cullen Boulevard at the main entrance to the University of Houston campus. The 7.7-acre property will consist of 531 beds including one-, two-, four- and five-bedroom apartments and townhouses, along with a pool, volleyball court, an 8,000-square-foot clubhouse, fitness center and private study rooms. The majority of the units at The Gateway on Cullen will consist of two-level townhome configurations upwards of 1,900 square feet. Each fully furnished unit will feature vinyl wood plank flooring, granite countertops, queen-sized beds, 50-inch TVs, stainless steel appliances and full-sized washer and dryers. Stuart Roosth Architects designed The Gateway on Cullen, and Temple, Texas-based MW Builders is the general contractor. The project will be completed before the fall 2017 semester.
