Texas

Inland Private Capital Sells 512-Bed Student Housing Property in San Marcos, Texas

by Taylor Williams August 22, 2024

SAN MARCOS, TEXAS — Illinois-based Inland Private Capital Corp. (IPC) has sold Uptown Square, a 512-bed student housing property located in the Central Texas city of San Marcos. Built in 2015, the 316-unit property serves students at Texas State University and features studio, one- and two-bedroom floor plans. Amenities include a pool, fitness center, business center, outdoor grilling and dining stations and a dog park. Uptown Square is 91 percent preleased in advance of the 2024-2025 academic year. Peter Katz of Institutional Property Advisors, a division of Marcus & Millichap, represented Inland in the transaction. Greystar purchased the property for an undisclosed price.

August 22, 2024

Civic Development Texas

Leyendecker Begins Renovation, Expansion of Cotulla High School Campus

by Taylor Williams August 22, 2024

COTULLA, TEXAS — General contractor Leyendecker Construction has begun the renovation and expansion of the high school campus of the Independent School District (ISD) of Cotulla, which is located about 90 miles southwest of San Antonio. Designed by Pfluger Architects, the project will be executed in two phases and will bring the total square footage of the campus, which was originally built in 1957, to 137,000 square feet. Completion is slated for late 2026. The project is being financed by a $65 million bond that was approved in May 2022. The Cotulla ISD serves about 1,200 students, and roughly 400 pupils attend the high school.

August 22, 2024

Leasing Activity Restaurant Retail Texas

PMB Capital Signs Four Food-and-Beverage Users to Leases at Metro Dallas Mixed-Use Development

by Taylor Williams August 22, 2024

SACHSE, TEXAS — Locally based developer PMB Capital Investments has signed four new food-and-beverage users to leases at The Station, a mixed-use development located on the northeastern outskirts of Dallas in Sachse. Deals are now in place with pizza concept Cane Rosso (3,000 square feet), Nation’s Giant Hamburgers (2,500 square feet), Chipotle Mexican Grill (2,325 square feet) and Starbucks (2,225 square feet). All restaurants are expected to be open by next spring. PMB Capital is also nearing completion of the redevelopment of Heritage Park, which will bring an amphitheater, custom-designed playground, pavilion, splash pad, event lawn and boardwalk to the community.

August 22, 2024

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Arranges 64,134 SF Industrial Lease Expansion in Irving

by Taylor Williams August 22, 2024

IRVING, TEXAS — Lee & Associates has arranged a 64,134-square-foot industrial lease expansion in Irving. According to LoopNet Inc., the building at 3250 Story Road W was originally built in 1997 and totals 96,200 square feet. Nathan Denton of Lee & Associates represented the tenant, Reliant Air Conditioning, in the lease negotiations. Steve Trese and Wilson Brown of CBRE represented the Landlord, Prologis.

August 22, 2024

Acquisitions Retail Texas

AW Outlet Buys 23,879 SF Retail Building in Fort Worth

by Taylor Williams August 22, 2024

FORT WORTH, TEXAS — Discount retailer AW Outlet has purchased a 23,879-square-foot building located at 6680 W. Freeway in Fort Worth for its newest store. The building sits on a 1.7-acre parcel within a larger shopping center that is anchored by grocer Albertsons. Michelle Caplan and Matthew Rosenfeld of Weitzman represented the undisclosed seller in the transaction. Sarah Lamb of DB2RE represented AW Outlet.

August 22, 2024

Development Multifamily Texas

Palladium USA Breaks Ground on $75M Multifamily Project in San Antonio

by Taylor Williams August 21, 2024

SAN ANTONIO — Dallas-based developer Palladium USA has broken ground on a $75 million multifamily project in San Antonio. The development will be situated on an 18-acre site on the city’s south side and will feature 288 units in one-, two- and three-bedroom floor plans. Amenities will include a pool, fitness center, conference center, dog park, business center, children’s playroom and clubroom with a mini kitchen. Cross Architects designed the community, and Brownstone Group is the general contractor. Palladium has partnered with the San Antonio Housing Trust Public Facility Corp. (SAHTPFC), which issued $35 million in tax-exempt bonds to finance the project. PNC Bank provided $33 million in equity and more than $30 million in long-term debt. The Texas Department of Housing and Community Affairs provided $36 million of 4 percent Low-Income Housing Tax Credits. Preleasing is set to begin in winter 2025.

August 21, 2024

Industrial Leasing Activity Texas

Four Hands Signs 570,489 SF Industrial Lease Near Austin Airport

by Taylor Williams August 21, 2024

AUSTIN, TEXAS — Four Hands has signed a 570,489-square-foot industrial lease near Austin-Bergstrom International Airport on the city’s southeast side. The locally based distributor of high-end furniture will occupy the entirety of Airport Logistics Center Building 2, which is part of a larger 92-acre development. Ace Schlameus and Kyle McCulloch of JLL represented the landlord, Dallas-based Dalfen Industrial, in the lease negotiations. Chad Marsh of Endeavor Real Estate Group represented the tenant. The deal marks the largest industrial lease in Austin this year, according to the brokerage teams.

August 21, 2024

Leasing Activity Office Texas

Bank of America Renews 553,779 SF Office Lease at Hallmark Center in Addison, Texas

by Taylor Williams August 21, 2024

ADDISON, TEXAS — Bank of America has renewed its full-building, 553,779-square-foot office lease at Hallmark Center I in the northern Dallas metro of Addison. The lease term is 10 years. Rhett Miller and Matt Wieser of Stream Realty Partners represented the landlord, The RMR Group, in the lease negotiations. Andy Leatherman and Bret Hefton of JLL in Dallas represented Bank of America, which signed its original lease to be the building’s sole occupant in 2013. Bank of America has also preleased half the space at Parkside Uptown, a 500,000-square-foot office building in Dallas that is under construction.

August 21, 2024

Development Multifamily Texas

Pacific Elm, Mintwood Near Completion of 291-Unit Peridot Apartments in Downtown Dallas

by Taylor Williams August 21, 2024

DALLAS — A partnership between Pacific Elm Properties and Mintwood Real Estate is nearing completion of Peridot, a 291-unit apartment property located within the 1.3 million-square-foot Santander Tower mixed-use development in downtown Dallas. Peridot occupies 11 of Santander Tower’s 50 floors and offers one- and two-bedroom units ranging in size from 700 to 1,300 square feet. Residential amenities include a pool, dog park, fitness center, game lounge and a pickleball court. Santander Tower also houses a boutique hotel and Class A offices. Rents start at roughly $2,400 per month, according to Apartments.com.

August 21, 2024

Acquisitions Multifamily Texas

Younger Partners Arranges Sale of 32-Acre Multifamily Development Site in Grand Prairie

by Taylor Williams August 21, 2024

GRAND PRAIRIE, TEXAS — Younger Partners has arranged the sale of a 32-acre multifamily development site in Grand Prairie, located roughly midway between Dallas and Fort Worth. The site is located at the northwest corner of Lake Ridge and Great Southwest parkways. John St. Clair and Davis Willoughby of Younger Partners represented the undisclosed seller in the transaction. The buyer was multifamily developer JPI.

August 21, 2024

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