FORT WORTH, TEXAS — The Multifamily Group (TMG), a Dallas-based brokerage firm, has negotiated the sale of Vista Del Sol, a 54-unit apartment building in South Fort Worth. Vista Del Sol offers one- and two-bedroom units, as well as an onsite leasing office and laundry facilities. Greg Miller of TMG represented the seller in the transaction, and Chase Davis, also with TMG, represented the buyer. Both parties requested anonymity.
HOUSTON — JS Wholesale has signed a 34,282-square-foot industrial lease in southwest Houston. The space is located at 4860 S. Sam Houston Parkway W. Will Mason and Wilson Kelsey of Stream Realty Partners represented the tenant in the lease negotiations. Joseph Smith and Savannah Smith of CBRE represented the locally based landlord, The Levey Group.
DALLAS — Kennedy Funding, a New Jersey-based direct private lender, has provided a $2 million acquisition loan for a 62.7-acre residential development site located at 2700 Simpson Stuart Road in South Dallas. The borrower, an entity doing business as The Beach Dallas LLC, is under contract to buy the site for $3 million. Specific plans for the future development were not disclosed.
IRVINE, CALIF. — JLL Capital Markets has arranged an $820 million refinancing for a 6.1 million-square-foot industrial portfolio comprising 42 shallow-bay properties across six markets. JLL arranged the CMBS financing on behalf of the borrower, a joint venture between affiliates of CIP Real Estate LLC and Almanac Realty Investors. Wells Fargo led the floating-rate, single-asset single-borrower (SASB) refinancing, with J.P. Morgan and Goldman Sachs also originating portions of the loan. The properties span major industrial markets, including Atlanta, Dallas-Fort Worth, Charlotte, Tampa and California’s East Bay and Inland Empire. As of September, the portfolio was 91 percent leased to more than 950 tenants. The buildings feature average clear heights of 19 feet, an average office finish of 33 percent and range in size from 16,176 to 944,655 square feet. The average property size is 145,925 square feet. Many tenants are logistics, e-commerce and distribution users, including last-mile operators and small- to medium-sized businesses. CIP plans to continue its growth strategy in the shallow-bay industrial sector, where it sees opportunity to serve the evolving needs of logistics, e-commerce and distribution tenants, according to CEO Eric Smyth. JLL’s Kevin MacKenzie, Peter Thompson, Christopher Pratt, Kyle White, Anthony Scaglione and Nick Englhard led …
BAYTOWN, TEXAS — TGS Cedar Port Partners LP, the owner of the 15,000-acre Cedar Port Industrial Park master-planned development in Baytown, has preleased a 420,150-square-foot distribution building. Supply Chain Management LLC will occupy the entirety of the building at 5300 E. McKinney Road, which is known as TGS Cedar Port DC 9. The building is currently under construction on a 23-acre site and will feature a cross-dock configuration and 40-foot clear heights. Partners Real Estate represented ownership in the lease negotiations. Brad Beauchamp of Colliers represented the tenant.
TYLER, TEXAS — Locally based brokerage firm Scarborough Commercial Real Estate has arranged the sale of a 157,379-square-foot warehouse in Tyler, about 100 miles east of Dallas. According to LoopNet Inc., the building at 13343 I-20 E was built on 37.2 acres in 1959, renovated in 2009 and features 23-foot clear heights and 12 dock-high doors. Sam Scarborough of Scarborough Commercial Real Estate represented the seller in the transaction, and Brian Burks of Landbridge Commercial Properties represented the buyer. Both parties requested anonymity.
AUSTIN, TEXAS — General contractor Swinerton is nearing completion of a 45,384-square-foot mass timber office project in East Austin. Designed by local architecture firm Dick Clark & Associates, the four-story building will include retail showroom and restaurant space. Lindgren Development owns the building, which is preleased to tenants including Beck-Reit Commercial Real Estate, Legacy Lighting and Art + Artisans, as well as Swinerton. All of these groups are also partners on the project. Delivery is slated for February. Construction began about a year ago.
STAFFORD, TEXAS — Mester Lighting Corp. has signed a 37,090-square-foot industrial lease expansion in Stafford, a southwestern suburb of Houston. According to LoopNet Inc., the building at 10643 W. Airport Blvd. totals 62,050 square feet. Garret Geaccone and Jon Farris of Stream Realty Partners represented the landlord, Ares Management Corp., in the lease negotiations. David Buescher of JLL represented the tenant.
DALLAS — Locally based brokerage firm Holt Lunsford Commercial has negotiated a 24,626-square-foot office lease renewal in North Dallas. The tenant is marketing and financial services provider Aperia. The space is located within The Belvedere, a 141,180-square-foot building. John Dickenson and Paul Hernandez of Holt Lunsford represented the landlord, an entity doing business as InPoint Addison Belvedere, in the lease negotiations.
By Oliver Gray, Esq., of Gray Winston & Hart Valuing hotels for property taxation is one of the most complex and contested areas in real estate appraisal. And unfortunately for hotel owners, improper assessment is common and costly. Unlike office buildings or warehouses, hotels are not just physical assets — they are operating businesses. This distinction requires appraisers to carefully separate the taxable real estate, which is land and improvements, from the nontaxable business enterprise and intangible assets. Failing to do so risks unlawfully taxing the business itself, a critical concern for Texas hotel owners and property tax professionals. Texas law mandates that assessors appraise property at its fee-simple market value, excluding exempt intangibles and business value. For hotels, this means appraisers cannot simply capitalize the income of the operating business. Rather, they must make adjustments to remove components tied to franchise affiliation, management expertise, brand recognition and other intangibles. The challenge is clear: How can assessors, taxpayers and their appraisers correctly isolate the real property value from the going concern? What follows are several common approaches and their inherent weaknesses, which can skew an assessor’s conclusions or provide bases to challenge inflated assessments. Management Fee Method One widely used — …