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Element-Towers-Dallas
DevelopmentOfficeTexas

Stanton Road Capital Completes Renovation of 672,942 SF Office Complex in North Dallas

by Taylor Williams

DALLAS — California-based investment firm Stanton Road Capital has completed the renovation of Element Towers, a two-building, 672,942-square-foot office complex located off I-635 in North Dallas. The project team upgraded and redesigned the lobbies of both buildings, which also now feature fitness centers with private showers and lockers, fully furnished conference/training facilities and onsite food services. Additional enhancements include updated outdoor communal and recreation areas. ENTOS Design provided architecture and design services while Arco/Murray handled construction. Stanton Road Capital has tapped Holt Lunsford Commercial to lease Element Towers post-renovation.

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AcquisitionsIndustrialSelf-StorageTexas

Marcus & Millichap Brokers Sale of 316-Unit Self-Storage Facility in Athens, Texas

by Taylor Williams

ATHENS, TEXAS — Marcus & Millichap has brokered the sale of Sentry Storage, a 316-unit self-storage facility located about 50 miles southeast of Dallas in Athens. Built on 9.1 acres in 1981 and recently expanded, the facility totals 47,356 rentable square feet. Brandon Karr and Danny Cunningham of Marcus & Millichap represented the Dallas-Fort Worth-based seller in the transaction and the locally based buyer. Both parties were private investors that requested anonymity.

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Triten-McKay-Road-Houston
DevelopmentIndustrialTexas

Triten Real Estate Breaks Ground on 171,000 SF Industrial Project in North Houston

by Taylor Williams

HOUSTON — Locally based developer Triten Real Estate Partners has broken ground on a 171,000-square-foot industrial project in North Houston. The property, which can support a single or multiple users, will function as a distribution center and will feature two drive-in ramps, 41 dock-high doors, speculative office space and ample trailer parking. Method Architecture is designing the project, and Angler Construction is serving as the general contractor. CBRE is the leasing agent. Completion is slated for summer 2025.

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Leasing ActivityOfficeTexas

TMEIC Signs 39,698 SF Office Headquarters Lease in Houston’s Energy Corridor

by Taylor Williams

HOUSTON — TMEIC, a joint venture between Toshiba and Mitsubishi Electric, has signed a 39,698-square-foot office headquarters lease in Houston’s Energy Corridor area. The Japanese manufacturer of electrical and automation systems for industrial plants is relocating its U.S. headquarters from Virginia to the 14-story, 350,000-square-foot Eldridge Oaks building. Brad Fricks and Matt Asvestas of Stream Realty Partners represented the landlord, an affiliate of Los Angeles-based Broadshore Capital Partners, which recently renovated the building, in the lease negotiations. Weldon Martin and Matthew Seliger, also with Stream, represented TMEIC.

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The-Royalton-at-Discovery-Rockwall
AcquisitionsMultifamilyTexas

SWBC Real Estate Sells 295-Unit Royalton at Discovery Apartments in Rockwall, Texas

by Taylor Williams

ROCKWALL, TEXAS — Locally based developer SWBC Real Estate has sold The Royalton at Discovery, a 295-unit apartment community in Rockwall, approximately 25 miles northeast of Dallas. Completed in 2023, The Royalton at Discovery offers one-, two- and three-bedroom floor plans with an average size of 1,015 square feet. Select units feature direct access or detached garages. Amenities include a clubhouse, pool and cabanas, fitness center and an outdoor gaming center. Bonaventure acquired the property for an undisclosed price. Drew Kile, Joey Tumminello, Michael Ware and Taylor Hill of Institutional Property Advisors (IPA), a division of Marcus & Millichap, brokered the deal.

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Affordable HousingDevelopmentMultifamilyTexas

LEDG Capital Completes $12M Renovation of Mixed-Income Community in Lubbock

by Taylor Williams

LUBBOCK, TEXAS — LEDG Capital, an owner-operator of affordable and workforce housing properties, has completed the $12 million renovation of Southstead, a 244-unit mixed-income community in Lubbock. Built in phases in the 1970s, Southstead comprises 11 two-story buildings and 14 single-story buildings on a 20-acre site. Of the 244 units, 100 are rented at market rates. In addition to upgrading kitchens, bathrooms and HVAC systems, LEDG Capital’s rehabilitation delivered new roofs, painting, pathways, parking areas, a playground and trash enclosures. Merchants Capital financed the project, which lasted 11 months and extends Southstead’s affordability for another 30 years.

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AcquisitionsRetailTexas

JLL Brokers Sale of 96,486 SF Mason Village Shopping Center in West Houston

by Taylor Williams

HOUSTON — JLL has brokered the sale of Mason Village Shopping Center, a 96,486-square-foot retail center in West Houston. Ethnic grocer La Michoacana anchors the center, and other tenants at the property include Harbor Freight, Freebirds, Jiffy Lube and Jason’s Deli. Ryan West, John Indelli and Clay Anderson of JLL represented the seller, North Carolina-based investment and management firm DNA Partners, in the transaction. Boston-based investment firm Longpoint Realty Partners acquired Mason Village for an undisclosed price.

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DevelopmentIndustrialTexas

Joint Venture Underway on 58,280 SF Industrial Project in Irving

by Taylor Williams

IRVING, TEXAS — A joint venture between Reserve Street Property Co. and BC2 Capital is underway on construction of a 58,280-square-foot industrial project in Irving. The 4.5-acre site at 1900 Hurd Drive is proximate to Dallas-Fort Worth International Airport. The new building will feature 28-foot clear heights and a one-acre outdoor laydown yard. Riley Maxwell and John Brewer of Transwestern represented the joint venture in its purchase of the land. JLL represented the seller, Hollman Inc. GSR Andrade is the project architect, and Bratjen Construction is the general contractor. Completion is slated for mid-2025.

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AcquisitionsHealthcareTexas

Healing Realty Trust Buys El Paso Medical Office Building for $7.1M

by Taylor Williams

EL PASO, TEXAS — Healing Realty Trust, a Florida-based REIT focused on healthcare assets, has purchased a 50,000-square-foot medical office building in El Paso for $7.1 million. The four-story building is situated on a 2.2-acre site at 1810 Murchison Drive within the Pill Hill Medical District. According to LoopNet Inc., the property was originally built in 1978 and subsequently renovated in 2020. Tenants include WellMed, Quest Diagnostics, Optum and Universal Health Services. The seller was not disclosed.

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Sunridge-Industrial-Park-Wilmer
IndustrialMarket ReportsTexasTexas Market Reports

Dallas-Fort Worth: A Leading Industrial Powerhouse in 2024

by Taylor Williams

By Josh Wheeler, senior vice president of development & acquisitions, Stonemont Financial Group The Dallas-Fort Worth (DFW) metroplex remains at the forefront of industrial growth in the United States. According to CommercialEdge, the market boasts a pipeline of 15.7 million square feet under construction as of June 2024 after several large deliveries were completed in the first half of the year. Following several years of explosive growth caused largely by the rise in e-commerce during the pandemic, the market has cooled due to economic headwinds. Tenants are taking longer to make decisions about their spatial needs. Construction has slowed after almost 18 million square feet of space was delivered in the first half of the year, including Stonemont’s 565,000-square-foot industrial park in Wilmer, just outside the metro area. As a result, vacancy rose to 11 percent in the third quarter of 2024. The market has continued its 14-year-long trend of positive absorption, though 2024’s year-to-date absorption is 6.5 million square feet below last year’s number. However, there is ample reason to remain bullish on DFW and to view the market as well-positioned to maintain its status as one of the country’s leading industrial powerhouses. Trends remain favorable for the market, …

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