TULSA, OKLA. — Dallas-based brokerage firm The Multifamily Group (TMG) has arranged the sale of Heatheridge Assisted Living, an 87-unit seniors housing property located just outside the downtown Tulsa area. Built in 1990, the property offers one-bedroom units with four different floor plans and amenities such as a laundry room, entertainment room, outdoor courtyard and full-service salons. Jon Krebbs of TMG brokered the deal. The buyer and seller were not disclosed.
FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of Victory Shops at Heritage Trace IV, an 11,492-square-foot retail strip center in Fort Worth. Tenants at the property, which was fully leased at the time of sale, include Just Love Coffee Café, RevFit, Flossophy Dental Studio and Big Chicken. All tenants operate on triple-net leases. Chris Gainey and Philip Levy of Marcus & Millichap represented the undisclosed seller in the transaction.
HOUSTON — Locally based brokerage firm Oxford Partners has negotiated a 10,150-square-foot office sublease in Houston’s Greenway District. The sublessee, law firm Webster Vicknair MacLeod, is taking space at 24 Greenway Plaza, a 510,000-square-foot building that is owned by Granite Properties. Ryan Hartsell of Oxford Partners represented the law firm in the sublease negotiations. Nick Terry of Rifle CRE represented the sublessor, Wyatt Ranches of Texas LLC.
DENTON, TEXAS — Hillwood, a Perot company, has unveiled plans for Landmark by Hillwood, a 3,200-acre mixed-use project in the northern Dallas suburb of Denton. The project team includes Hillwood subsidiaries Hillwood Communities and Hillwood Properties. The plans call for 900 acres of commercial space comprising 5 million square feet of retail, hospitality and entertainment space, approximately 6,000 single-family homes and more than 3,000 multifamily units. The site, which is situated at I-35W and Robson Ranch Road, was previously known as Hunter Ranch. The parcel is one of the original land holdings purchased by the Perot family in 1987. The property encompasses Pilot Knob Hill, the highest point in Denton, according to Hillwood. Once completed, Landmark by Hillwood will offer 1,100 acres of park and open space, including Pilot Knob Hill, as well as an interconnected trail system, recreation areas and public parks. Hillwood also plans to construct a series of learning parks, which aim to promote nature education and engagement and will be open to the public. Hillwood plans to break ground on the first phase of the project this September. Phase I will comprise 747 single-family lots, with models slated to open in spring 2026. Planning and leasing are already underway …
BEAVERTON, ORE. — Intersect Power, an Oregon-based clean energy company, has received $837 million in financing for the construction and operation of three standalone battery energy storage facilities in Texas. The facilities, the specific locations of which were not disclosed, are expected to be operational by the end of the year. The financing includes portfolio-level construction debt, tax equity and term debt financing. Morgan Stanley provided tax equity, and funds and accounts managed by HPS Investment Partners will be making construction debt and term debt investments. Deutsche Bank is partnering in the construction debt facility and providing the operational letters of credit to the projects.
AUSTIN, TEXAS — Chicago-based Logistics Property Co. has broken ground on a two-building, 408,000-square-foot industrial project at 12821 Titanium St. in northeast Austin. The site is roughly one mile from State Highway 130 and 15 miles from the downtown area. The development will consist of a 175,000-square-foot rear-load building and a 233,000-square-foot cross-dock building. Construction is expected to last about one year. McFarland Architecture is designing the project, and FCL Builders is serving as the general contractor. Locally based brokerage firm AQUILA Commercial is marketing the property for lease.
AUSTIN, TEXAS — Developer High Street Residential has completed Alder at The Grove, a 276-unit multifamily project located within The Grove master-planned community in Austin. The first phase, the 373-unit Korina at The Grove, was completed in March 2022. Alder at The Grove features studio, one-, two- and three-bedroom floor plans that range in size from 400 to 3,600 square feet. Amenities include a pool, fitness center, clubroom, resident lounge, coworking space and outdoor grilling and dining stations. JHP Architecture designed the project, with interiors by Britt Design Group. Andres Construction served as the general contractor. Rents start at roughly $1,225 per month for a studio apartment.
HOUSTON — Avison Young has arranged a 104,013-square-foot office headquarters lease in Houston. The tenant, Camden Property Trust, will relocate from Greenway Plaza to floors 25 through 29 at Williams Tower, a 1.4 million-square-foot building located at 2800 Post Oak Blvd. in Houston’s Galleria neighborhood. Anthony Squillante and Dustin Devine of Avison Young represented the tenant, which plans to take occupancy next fall, in the lease negotiations. Warren Savery and Nina Seyyedin of CBRE represented the landlord, Atlanta-based Invesco Real Estate.
IRVING, TEXAS — Developer KDC, in partnership with the University of Dallas, has received approval from the Irving City Council to rezone a site located north of State Highway 114 at Braniff Drive to support the development of a data center. The project, the size and scope of which was not disclosed, is currently in the design phase and expected to be complete in early 2027. Corgan is leading the design of the project, with Telios and Kimley-Horn providing engineering services.
AUSTIN, TEXAS AND ORLANDO, FLA. — Darden Restaurants (NYSE: DRI) has agreed to acquire Chuy’s Holdings (NASDAQ: CHUY) for $605 million in an all-cash transaction. The Tex-Mex restaurant chain — which owns and operates 101 full-service restaurants across 15 states — will join Darden’s existing restaurant portfolio, which includes Olive Garden, LongHorn Steakhouse and Ruth’s Chris Steak House, among others. Under terms of the merger agreement, Orlando-based Darden will acquire all outstanding shares of Chuy’s at $37.50 per share. The purchase price represents a 40 percent premium to the Austin-based company’s 60-day volume weighted price. Chuy’s board of directors unanimously approved the merger agreement, which includes a 30-day “go-shop” period that will allow the company to solicit alternative proposals from interested parties. The transaction is expected to close during the second quarter of 2025, subject to a number of closing conditions, including approval by a majority of Chuy’s stockholders. Darden acquired Ruth’s Chris in summer 2023 for $715 million. The company’s portfolio of restaurant brands also includes Yard House, Cheddar’s Scratch Kitchen, The Capital Grille, Seasons 52, Eddie V’s and Bahama Breeze. Darden’s stock price closed at $147.35 per share on Thursday, July 17, down from $163.31 one year ago. …