Texas

Swinerton Tops Out 135,000 SF Life Sciences Project in Northwest Dallas

by Taylor Williams October 2, 2023

DALLAS — General contractor and construction management firm Swinerton has topped out Bridge Labs at Pegasus Park, a 135,000-square-foot life sciences project in northwest Dallas. The project represents the latest phase of the 23-acre Pegasus Park development. A partnership between Montgomery Street Partners, J. Small Investments and Lyda Hill Philanthropies owns Pegasus Park, the master plan of which also includes an 18-story tower with 538,000 square feet of office space and a brewery/restaurant. Full delivery is slated for the second quarter of 2024. Jim Curtin and Andrew Gray of JLL, along with Jason Piering of Hamilton Realty Finance, arranged financing for the redevelopment that included a five-year construction loan from Interbank and C-Pace financing through Nuveen Green Capital.

October 2, 2023

Acquisitions Multifamily Texas

IPA Negotiates Sale of 115-Unit Apartment Complex in Northwest Houston

by Taylor Williams October 2, 2023

HOUSTON — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Icon at Yorktown, a 115-unit apartment complex in northwest Houston. Built on three acres in 2021, Icon at Yorktown offers one-, two- and three-bedroom units and amenities such as a pool, fitness center, outdoor grilling stations, package lockers, resident lounge and a coffee bar. Travis Austin, Greg Austin, Jackson Hart, Drew Kile and Will Balthrope of IPA represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

October 2, 2023

Development Industrial Texas

MYCON Begins Construction on 21,910 SF Industrial Project in Plainview, Texas

by Taylor Williams October 2, 2023

PLAINVIEW, TEXAS — MYCON General Contractors has begun construction on a 21,910-square-foot industrial project in Plainview, located roughly midway between Lubbock and Amarillo in West Texas. The facility will consist of five pre-engineered metal buildings and a prefabricated guard shack on a 4.5-acre site and will be used to manufacture electronic-grade sulfuric acid for the cleaning and etching of computer chips. Delivery is slated for next May. The developer is a joint venture that includes Samsung.

October 2, 2023

Leasing Activity Office Texas

Fieldwork Signs 14,102 SF Office Lease in North Dallas

by Taylor Williams October 2, 2023

DALLAS — Market research firm Fieldwork has signed a 14,102-square-foot office lease at Providence Towers, a 524,143-square-foot complex in North Dallas. The property is currently undergoing a multimillion-dollar capital improvement program. Kim Brooks, Justin Miller, Scott Walker and Laney Delin of Transwestern represented the landlord, California-based investment firm KBS, in the lease negotiations. Jonathan Hill of Morrow Hill represented the tenant.

October 2, 2023

Leasing Activity Retail Texas

Tangram Interiors Opens 12,000 SF Showroom in Dallas’ East Quarter

by Taylor Williams October 2, 2023

DALLAS — Southern California-based office furnishing company Tangram Interiors has opened an 12,000-square-foot showroom at 300 S. Pearl Expressway in the East Quarter area of Dallas. According to LoopNet Inc., the building was constructed in 2021, rises seven stories and totals 194,672 square feet. About 40 of Tangram Interiors’ 75 employees will work at the showroom.

October 2, 2023

Development Office Texas

Rubenstein Partners Underway on Redevelopment of 27-Acre Former PepsiCo Office Campus in Plano

by Taylor Williams September 29, 2023

DALLAS — Rubenstein Partners is underway on the redevelopment of the 27-acre former PepsiCo office campus in Plano. The Philadelphia-based developer is currently renovating the 250,000-square-foot building at 5600 Technology Drive, which the company purchased in 2022. Capital improvements include a new lobby and entryway, along with a new tenant lounge, coffee bar and fitness center. Exterior improvements include a new façade with enhanced landscaping, as well as the addition of outdoor seating areas and pickleball courts. Dallas-based GFF is overseeing the design of the project, which is expected to be complete by the end of the year.

September 29, 2023

Development Multifamily Seniors Housing Texas

Tradition Senior Living Completes 297-Unit Project in Fort Worth

by Taylor Williams September 29, 2023

FORT WORTH, TEXAS — Developer and operator Tradition Senior Living has completed construction on a 297-unit project within the 270-acre Clearfork mixed-use development in Fort Worth. The Tradition-Clearfork offers 214 independent living residences and 95 assisted living and memory care units. Residences come in one- and two-bedroom formats and range in size from 880 to 2,200 square feet. Residents have access to 24-hour concierge and valet services, secure parking and transportation options. Common areas include lounges, card rooms, a movie theater, fitness center, pool and other spaces for daily social activities and wellness programs. Jackson & Ryan Architects designed the project, and Rogers-O’Brien Construction served as general contractor.

September 29, 2023

Acquisitions Multifamily Texas

SPI Advisory Acquires 164-Unit Riverbend Apartments in New Braunfels, Texas

by Taylor Williams September 29, 2023

NEW BRAUNFELS, TEXAS — Texas-based private equity firm SPI Advisory has acquired Hawthorne Riverside, a 164-unit multifamily complex in New Braunfels, a northwestern suburb of San Antonio. Built in 1995, the property offers one- and two-bedroom units and amenities such as a pool, fitness center, volleyball court, cybercafé, pet park, resident clubhouse, business center and outdoor grilling and dining stations. SPI Advisory plans to implement a value-add program and rebrand the property as Riverbend Apartments. The seller and sales price were not disclosed.

September 29, 2023

Loans Lument Multifamily Seniors Housing Texas

Lument Provides $13.4M Agency Loan for Refinancing of Seniors Housing Complex in Metro Houston

by Taylor Williams September 29, 2023

HUMBLE, TEXAS — New York City-based Lument has provided a $13.4 million Fannie Mae loan for the refinancing of The Fordham at Eagle Springs, a 137-unit seniors housing complex in Humble, a northern suburb of Houston. The six-building, age-restricted community was built in 2020 within the Eagle Springs master-planned development and offers a pool, salon and a coffee bar. Tom Dixon of Lument originated the financing, which was structured with a 10-year term (four years of which are interest-only), fixed interest rate and a 30-year amortization schedule. The borrower was not disclosed.

September 29, 2023

Leasing Activity Office Texas

Tower Street Insurance Signs 19,399 SF Office Lease Expansion in North Dallas

by Taylor Williams September 29, 2023

DALLAS — Tower Street Insurance has signed a 19,399-square-foot office lease expansion at Providence Towers, a 524,143-square-foot complex in North Dallas. The tenant is expanding from 5,000 to 24,399 square feet at the property, which is currently undergoing a multimillion-dollar capital improvement program. Kim Brooks, Justin Miller, Scott Walker and Laney Delin of Transwestern represented the landlord, California-based investment firm KBS, in the lease negotiations. Michael Griffin of Transwestern represented the tenant.

September 29, 2023

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