DESOTO, TEXAS — Alliance Architects, Inc. has completed design services for a speculative industrial building in DeSoto. Located on 64 acres in USAA Real Estate Co.’s Southfield Park 35, building one totals 1.1 million square feet and is being developed by Seefried Properties. Alliance Architects designed the 157-acre master plan, which features Class A building designs with build-to-suit flexibility and direct access to I-20 and I-35 in south Dallas, for Seefried.
It’s safe to say that the Rio Grande Valley, now also referred to as Rio South Texas, is one of the most dynamic and fastest growing regions in the state. The four-county region at the southernmost tip of Texas bordering Mexico and hugging the Gulf of Mexico consists of Hidalgo, Cameron, Starr and Willacy counties. With nine ports of entry, five international airports, a first-class deep water port, a population of over 1.2 million and three interstates, it is easy to see why the Rio Grande Valley is one of the largest trade corridors in the world. Growth in all aspects, including retail, office, medical, education, industrial and housing, brought nearly $700 million in construction permits for all of 2014. Retail Sales tax revenue being sent back to the cities continues to increase at a healthy pace. Walmart’s opening of 12 new stores in the region affirms the positive growth and the confidence in the valley. The impact a Super Walmart has is evident with a city’s sales tax revenue. Two new stores in Donna and Elsa increased local sales tax revenue 14 percent and 57 percent, respectively. Retail sales in the region continue to rise, showing the strength of …
FORT WORTH, TEXAS — Eight new tenants are set to join Trademark Property Co.’s 63-acre Waterside mixed-use development, which is currently under construction at Bryant Irvin Road and Arborlawn Drive along the Trinity River in Fort Worth. More than 20,000 square feet of new retail and restaurants, along with anchor tenant Whole Foods Market, will open as part of the center’s first phase. The new tenants include Taco Diner, a Mexico City-style taqueria, which will open a 3,900-square-foot restaurant; Zoës Kitchen, a fast casual restaurant concept serving Mediterranean-inspired dishes, which will open a 2,800-square-foot restaurant; Blaze Pizza, a counter-serve pizzeria, which will open a 2,800-square-foot restaurant; Sleep Train, a top mattress retailer, which will open a 3,602-square-foot location. The lineup of new tenants also includes Massage Heights, Envy Nails, Amazing Lash Studio and Pretty Kitty. Construction on Waterside’s first phase began in 2014 and is slated for completion in late spring 2016. Phase I will also include 375 multifamily units built by Transwestern Development Co.. At full build out, Waterside will include 200,000 square feet of retail space and riverside restaurants, 800 multifamily units and two or three hotels.
WILLOW PARK, TEXAS — Civitas Senior Living LLC began construction in July on Clear Fork Senior living, a seniors housing complex that will offer assisted living and memory care units. The development will be the 13th property in the company’s portfolio. The project is a joint venture between Civitas and Sandlin Capital LLC/2MR Capital LLC. Justin Hitchcock of Community National Bank & Trust of Texas in Weatherford originated construction financing for the project. Donica Construction and Development will be the developer for Clear Fork Assisted Living and Memory Care. Building plans include 38 assisted living suites and one-bedroom units, along with 24 private and semi-private memory care units. Clear Fork Senior Living amenities will include a gym, spa, wellness center, walking trails and a clubhouse. The complex will be owned and managed by Civitas. In addition to Clear Fork Senior Living, Civitas Senior Living operates Cambridge Court Assisted Living and Memory Care Facility in Mesquite, Autumn Wind Assisted Living in Winnsboro, Aria Memory Care in Cedar Park and Midtowne Assisted Living and Memory Care in Midlothian. The company also projects in the pipeline in Burleson, Flower Mound, Frisco, Austin and Allen.
CONROE, TEXAS — Gator Fabrication LLC, a heavy steel fabrication company, has moved into the former JM Eagle Plant in Conroe. The property, located at 101 E. Ave. M, consists of two heavy manufacturing buildings totaling 80,878 square feet and is situated on approximately 18 acres of stabilized land. Rob Banzhaf and Krissie Vanyo of Newcor Commercial Real Estate represented Gator Fabrication in the lease negotiations. Prior to occupancy, the landlord completed a makeover of the buildings, including all new electrical, building shell and crane upgrades. Jasper Tramonte of Tramonte Brokerage LLC represented the landlord, David F. Bolger Revocable Trust.
HOUSTON — NAI Partners has negotiated the sale of a 79,444-square-foot, multi-tenant industrial property located at 16745 N. Freeway in Houston. The property is anchored by a Guitar Center retail store. Doug Pack and Josh Lass-Sughrue of NAI Partners negotiated on behalf of the seller. The buyer is a local investor.
DALLAS — Churchill Capital Co. of Dallas has arranged a $4.7 million loan for the acquisition and improvement of a 173-unit Class C multifamily community located at 1810 John West Road in northeast Dallas. The Buckner Village Apartments are garden-style, one- and two-story units with one-, two- and three-bedroom floor plans. The 7.6-acre complex was fully renovated in 2009 and features gated access, a pool and a playground. Duke Stone and Steve Forson of Churchill Capital arranged the three-year, floating-rate loan through a local bank on behalf of the borrower, JAG Re-Development.
NORTH RICHLAND HILLS, TEXAS — The Woodmont Co. has completed the $6.3 million sale of North Hills Village, a 188,856-square-foot retail center located in North Richland Hills, to a private investor. Brad Cruickshank, Trip Green and Randy Bell of The Woodmont Co. represented the seller, a subsidiary of LNR Partners LLC, in the transaction. Built in 1988, the two-building property is located at 7520-7640 N.E. Loop 820 and is situated on 16.4 acres. It was 34 percent occupied at the time of sale with tenants including Cinemark Theaters, Mattress Firm, Subway and T-Mobile. North Hills Village is adjacent to City Pointe Center, a 74-acre mixed-use and municipal complex currently in development.
HOUSTON — Boyd Commercial LLC/CORFAC International, a full-service commercial real estate services provider in Houston, has negotiated the sale of a 21-acre Houston property to Summer Street Retail LP, a business entity backed by Gulf Coast Commercial Group. The Houston Business Journal reported that the property sold for $40 million. Previously owned by Texas Tile Manufacturing LLC, an affiliate of Tarkett USA Inc., the property was marketed for sale by Conrad Bernard of Boyd Commercial/CORFAC, as well as the firm’s founder, J. Michael Boyd. They were the only brokers involved in the transaction. Tarkett ceased manufacturing at its facility located at 1705 Oliver St. in Houston last fall and used portions of the property as warehouse product as recently as June. The French-owned company had occupied the site since 1932, constructing in excess of 750,000 square feet of manufacturing and warehouse space in the ensuing years.
LEWISVILLE, TEXAS —EastGroup Properties has purchased a 28-acre site in Lewisville for the development of four Class A industrial buildings totaling 350,000 square feet. The project will accommodate tenants ranging from 12,750 square feet to 122,000 square feet. The development, CreekView 121, will benefit from the site’s direct access to TX-121 and its proximity to I-35 East, Dallas North Tollway, DFW International Airport, Nebraska Furniture Mart and Toyota’s new headquarters.
