CARROLLTON, TEXAS — Global colocation solutions provider CyrusOne has expanded its Carrollton data center with the recent completion of a new data hall, adding nearly 60,000 square feet and 4.5 megawatts of power capacity. The company’s Carrollton data center is the largest facility of its kind in the state, featuring a 670,000-square-foot campus. The Carrollton data center also houses the infrastructure and 911 dispatch center for Carrollton, Coppell, Farmers Branch and Addison, Texas. The communities have consolidated 911 dispatch services to form the North Texas Emergency Communications Center (NTECC).
AUSTIN, TEXAS — Howard Michaels of Carlton Strategic Ventures and Avery Modlin of The Modlin Group have negotiated the sale of Dobie Center to Fowler Property Acquisitions LLC. Located in Austin, Dobie Center is the largest privately owned student dormitory at the University of Texas at Austin. The property consists of a 27-story glass and steel residential tower, a 90,000-square-foot retail mall and a six-story, 250,000-square-foot, above-grade parking garage. Brian Kelly of HFF was the broker on the transaction. The Carlton Group’s general counsel Daniel Bildner closed the transaction along with Larry Haber of Abrams Garfinkel Margolis Bergson LLP. Dobie Center is located next to the University of Texas at Austin campus, opposite the soon-to-be-completed 458,000-square-foot McComb’s Business School.
AUSTIN, TEXAS — Karlin Real Estate has sold a 302,604-square-foot industrial building located at 13201 McCallen Pass in north central Austin to General Motors. GM acquired the building to complement its existing Austin IT Innovation Center at 717 E. Parmer Lane. The facility is located within Sector 6, the first phase of the 400-acre master planned technology and office park being developed by Los Angeles-based Karlin and Dallas-based Trammell Crow Co. Previously occupied by Dell Inc., Sector 6 comprises three existing institutional quality industrial buildings totaling approximately 1 million square feet. All three buildings have been leased or sold. Sector 6’s Other tenants include Allergan, Brown Traffic and Marco Fine Arts. Trammell Crow is completing the first phase of new construction at PARMER, a three-story, 192,000-square-foot office building and has plans to break ground on an identical building later this year. Both buildings are designed for single- or multi-tenant occupancy, and will feature 64,000-square-foot floor plates. PARMER is currently zoned for several million square feet of office, industrial, hotel and retail uses. The development will feature a central amenity area that will include covered outdoor dining and seating areas, extensive hardscape improvements, miles of jogging/walking paths and Wi-Fi enabled social …
DALLAS — Hunton & Williams, a corporate law firm, has signed a long-term lease extension at the downtown Dallas skyscraper known as Fountain Place, according to Goddard Investment Group. The 58-story glass building is located in the Dallas Arts District, a hub of performing arts, dining and entertainment venues. Johnny Johnson and Lauren Napper of DTZ represented the landlord in the transaction. Larry Toon, Elizabeth Cooper, Jeremy McGowan and Brad Selner of JLL represented the tenant in the 88,000-square-foot lease.
PLANO, TEXAS — Pierson Retail Advisors (PRA) has arranged the sale of Ruisseau Village, a 124,567-square-foot shopping center. The property is located at the northwest corner of West Parker Road and North Central Expressway in Plano. PRA represented the seller, West Plano Retail LLC, in the transaction. A California-based buyer purchased the asset for an undisclosed price. Jennifer Pierson and Beth Pierson of PRA’s Dallas office arranged the sale.
DENTON, TEXAS — Brian Gramlich of BMC Capital’s Dallas office has arranged a $2.6 million acquisition loan for a 55-unit multifamily property located in Denton. The loan featured an 80 percent loan-to-value ratio, a seven-year term, 4.75 percent interest rate and a 30-year amortization schedule. The loan was arranged through one of BMC Capital’s correspondent banking relationships.
DALLAS — NAIOP has selected Majestic Realty Co. as its 2015 Developer of the Year. Headquartered in Southern California, with regional offices throughout the United States, Majestic is the largest privately held industrial developer in the country. Majestic completed nine new buildings in the past year, adding more than 6 million square feet and increasing its ownership portfolio to 78 million square feet. Majestic also recently completed a 2,000-acre land acquisition in Laredo, Texas. Majestic’s services include land acquisition, entitlement, design/construction, finance, leasing and property management.
WACO, TEXAS — Marcus & Millichap has arranged the sale of The Retreat at Central Texas Marketplace, a 216-unit apartment community in Waco. Joe James and Kent Myers of Marcus & Millichap’s Austin office represented the seller and procured the buyer. The property is located at 2500 Marketplace Drive at the intersection of Interstate 35 and Loop 340/Highway 6. The Retreat at Central Texas Marketplace features amenities including controlled-access gates, perimeter fencing, a fitness center, business center, swimming pool, car wash facility, covered parking and garages. Apartments amenities include crown molding, built-in desks, wood-burning fireplaces, nine-foot ceilings, private patios/balconies and full-size washer and dryer connections.
Despite headwinds from the oil and energy industries’ latest moves, cities throughout Texas continue to boom. Austin and San Antonio have, in recent years, led the charge. However, one city situated along Interstate 35 between those powerhouses is emerging out of its sleepy college town roots and drawing attention from local and national investors. Once the primary destination for weeklong vacation shopping excursions to the country’s fourth largest outlet mall, San Marcos is quickly moving up the ranks. Recently named the fastest growing city in the U.S. by the Census Bureau for the third year in a row, it’s clear that one of Texas’ best kept secrets is out. Spec properties dot the landscape, fueled by the increasing demand for housing, hotels and industrial space, and are often leased before construction has completed. The economic forces driving the city’s growth are many. It is located on the I-35 Regional Growth Corridor between Austin and San Antonio with nearby access to I-10, toll road SH 130, as well as two international airports.It’s home to Texas State University, with more than 36,000 students, and rapidly gaining a reputation for its engineering, materials science and biotech programs. It is home to Tanger’s outlet …
ARLINGTON, TEXAS — Caddis, a healthcare and real estate firm, is developing a 67,000-square-foot, one-story, 81-unit assisted living and memory care community in Arlington. The new senior community is scheduled to open in spring 2016. Heartis Arlington will feature amenities including a courtyard, outdoor walking paths, game and activity rooms and a beauty/barber shop. Services range from assistance with personal activities to housekeeping and laundry to daily nursing care and 24-hour emergency response. Frontier Management will manage the community. The company also manages several other Heartis communities in Texas. Austin-based Pi Architects Inc. is the architect for Heartis Arlington, and the Dallas office of Weis Builders is the general contractor. Construction debt financing is being provided by Kansas City, Mo.-based UMB Bank, NA. Caddis launched its senior living brand, Heartis, in early 2013. In addition to Arlington, the company has communities open or under construction in the Texas cities of Conroe, Cleburne, Fort Worth, Amarillo, Cypress, Clear Lake, San Antonio, Longview and Waco. Caddis will own Heartis Arlington upon completion.