FORT WORTH, TEXAS — Google has signed a 1.1 million-square-foot industrial lease in Fort Worth, according to reports from multiple news outlets, including Dallas Morning News and the Dallas Business Journal. The latter publication reports that the building is located within Majestic Silver Creek Business Park, a 520-acre development on the city’s west side that is owned by California-based Majestic Realty. The DBJ also reports that the deal is part of a larger initiative in which the California-based tech giant pledged to invest $1 billion in Texas markets to support its cloud infrastructure and data center operations.
DENTON, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Gateway at Denton, a 696-bed student housing property that serves students at the University of North Texas. Built in 2005, the 228-unit complex is located within a half-mile of campus and features a mix of two-, three- and four-bedroom floor plans with complete bed-bath parity. Units range in size from 816 to 1,360 square feet. Amenities include a newly renovated clubhouse, three pools with cabanas, outdoor grilling and dining stations, basketball court, fitness center and a computer lab. Peter Katz and Drew Kile of IPA represented the seller, Los Angeles-based MJW Investments, in the transaction and procured the buyer, Vesper Holdings.
PROSPER, TEXAS — Dallas-based developer SWBC has broken ground on The Royalton at Prosper, a 270-unit multifamily project that will be located on the northern outskirts of Dallas. The site is adjacent to SWBC’s The Royalton at Creeks of Legacy development, which also totals 270 units and is currently in lease-up. Units at the new property will come in one-, two- and three-bedroom floor plans, and select residences on the first floor will have private yards and direct-access garages. Amenities will include a clubhouse with a business center, 24-hour fitness center and a resort-style pool with cabanas and grilling stations. Cross Architects is designing the project, and Carleton Cos. is serving as the general contractor. The first units are expected to be available for occupancy next summer.
AUSTIN, TEXAS — Adolfson & Peterson (AP) Construction has been awarded the contract to renovate McCallum High School, which is part of the Austin Independent School District and located on the city’s north side. The school originally opened in 1955 and serves roughly 1,500 students. The project team will demolish the existing 30,000-square-foot science wing and deliver a 50,000-square-foot facility with computer labs, robotics, a wood shop and spaces for biology, chemistry and physics classes. In addition, the entry vestibule and front office will be reconfigured/remodeled for enhanced security. PBK Architects is leading design of the renovation, which is expected to begin in May 2025 and to be complete in fall 2026.
CELINA, TEXAS — Lowe’s Home Improvement will open a 94,000-square-foot store in Celina, located at the convergence of Collin and Denton counties in North Texas. The North Carolina-based retailer will join the tenant roster at The Crossing at Moore Farm, a 100-acre mixed-use development located along Preston Road. The store will be situated on a 14-acre site, and Lowe’s expects to receive its certificate of occupancy by March 2027.
FRISCO, TEXAS — BayBridge Real Estate Capital, a New York City-based capital markets advisory firm, has arranged a $138.3 million loan for the refinancing of The Links on PGA Parkway, an apartment community located north of Dallas in Frisco. The Links on PGA Parkway is a four-phase development, and the first two phases totaling 690 units were completed in December 2021 and October 2023. Phases III and IV will total 620 units. Residences come in one-, two- and three-bedroom floor plans. Amenities include two clubhouses, two pools and two fitness centers, as well as a golf simulator, complimentary yoga classes and lessons from a local golf professional. The borrower is Dallas-based Carbon Cos. Jay Miller, Spencer Miller, A.J. Felberbaum, Gabe Stolar and Noah Rothman of BayBridge arranged the debt through MF1 Capital.
HOUSTON — Locally based firm Avera Cos. will develop a 401,154-square-foot industrial project in southeast Houston. Avera Baywood will be a front-load building that will be situated on a 34-acre site west of the Houston Ship Channel. Building features will include 36-foot clear heights, oversized truck courts and an ESFR sprinkler system. Completion of the project, which will be Avera’s 12th development in the southeast Houston submarket, is slated for late 2025.
FRISCO, TEXAS — Locally based seniors housing operator Mustang Creek Enterprises has purchased Mustang Creek Estates of Frisco, an 80-unit facility that is located on a six-acre site at 1200 W. Main St. on the northern outskirts of Dallas. Mustang Creek has operated the six-building property, which offers assisted living and memory care services, since it opened in 2014. Mustang Creek financed the purchase through Community National Bank. The seller and sales price were not disclosed.
ARLINGTON, TEXAS — NAI Robert Lynn has negotiated a 36,450-square-foot industrial lease in Arlington. According to LoopNet Inc., the property at 634-640 107th St. was built in 1974, renovated in 2018 and totals 72,900 square feet. Joe McLiney of NAI Robert Lynn represented the tenant, custom metal sheet fabricator Send Cut Send, in the lease negotiations. Michael Stanzel, also with NAI Robert Lynn, represented the landlord, an entity doing business as SL Project Texas LP.
HOUSTON — Marquette Cos., an Illinois-based multifamily developer, has received approval from the Houston Planning Commission for a 20,000-square-foot commercial project that will be located along the 2600 block of Keene Street near White Oak Music Hall. The new building is slated for a 2025 delivery and will be marketed to bars, restaurants, coffee shops and other retail users. The single-story building will be located across the street from Tempo at White Oak, Marquette’s 304-unit multifamily project that is nearing completion.