AUSTIN, TEXAS — Los Angeles-based investment firm Westwood Financial has purchased Trails at 620, a 69,037-square-foot shopping center in northwest Austin. The center was roughly 77 percent leased at the time of sale to tenants such as AT&T, Freebirds World Burrito, Black Rock Coffee, Restore Hyper Wellness, Kale Me Crazy, Mattress Firm and European Wax Center. Shea Petrick, Chris Gerard, and John Indelli of JLL represented the seller, Partners Capital, in the transaction.
By Taylor Williams Earlier this year, data from the U.S. Census Bureau emerged stating that San Antonio had added 22,000 new residents between July 2022 and 2023, making it the nation’s fastest-growing city during that time. That figure exceeded the 18,900 new residents added between July 2021 and 2022 and brought the Alamo City’s total head count to about 1.5 million people, making it the seventh-largest U.S. city by population. With such growth comes pressure from both the anchor city and its surrounding municipalities to deliver solid employment, housing and recreation options for residents. City officials and leaders can make good on that charge by a variety of means and mechanisms, and rarely does one city or submarket’s blueprint for accommodating growth match that of another. As such, the suburbs surrounding the San Antonio area are increasingly standing on their own as unique communities that are more than capable of attracting quality housing development, national retail and restaurant users and new employment opportunities. In this story, we take a closer look at specific projects and initiatives that are helping some of these municipalities effectively and efficiently ride the wave of regional growth. Seguin: Revitalization 101 Located off I-10 on San …
RED OAK, TEXAS — Compass Datacenters will undertake a $300 million expansion of its campus in Red Oak, a southern suburb of Dallas, according to reports from multiple publications, including the Dallas Business Journal and Data Center Dynamics. The former publication reports that the locally based owner-operator plans to add three more buildings totaling approximately 755,000 square feet, with each building measuring about 216,000 square feet. The DBJ also reports that construction is already underway on two of those buildings and is scheduled for completion in 2025 or 2026. Most recently, Compass partnered with Schneider Electric on a 103,000-square-foot, build-to-suit manufacturing facility on the Red Oak campus.
IRVING, TEXAS — JLL has arranged a $210 million loan for the refinancing of the 427-room Ritz-Carlton Dallas Las Colinas Hotel in Irving. The hotel sits on a 16.7-acre site and was previously known as the Four Seasons Resort & Club Dallas at Las Colinas. The sponsor, a joint venture between Partners Group and funds managed by Trinity Investments, acquired the hotel in May 2022 and subsequently implemented a renovation and rebrand. Today, the hotel offers 80,000 square feet of meeting and event space, five food-and-beverage venues, a pool, spa, golf course, fitness center and squash, tennis and racquetball courts. Kevin Davis, Mark Fisher, De’On Collins and Caleigh O’Connell of JLL arranged the loan through Marathon Asset Management.
DALLAS — Shorenstein Investment Advisers, a privately owned office and multifamily owner-operator based in San Francisco, has acquired International Plaza II, a 388,000-square-foot office building in North Dallas. The 15-story building was recently redeveloped and now features nearly 50,000 square feet of new amenity space, including a full-floor food hall, a coffee and wine bar, multiple indoor and outdoor tenant lounges, fitness center and conference facilities. The seller and sales price were not disclosed. International Plaza II was 93 percent leased at the time of sale.
DALLAS — OHT Partners has begun a multifamily conversion project in Dallas. The Austin-based developer will convert the former Ambassador Hotel, located just southeast of downtown, into a 299-unit apartment complex. Known as Ambassador, the complex will offer studio, one- and two-bedroom units that will range in size from 502 to 1,539 square feet. Amenities will include a pool, fitness center, coworking lounge, package lockers, dog park, minimart and indoor/outdoor club with a kitchen. Corgan is the project architect. The first units could be available for occupancy as early as third-quarter 2026.
CLEAR LAKE, TEXAS — New York-based investment firm Fullerton Properties has sold Atrium Crest, a 107,529-square-foot office building in Clear Lake, a southeastern suburb of Houston. The building was most recently renovated in 2004 and was 79 percent leased at the time of sale. Marty Hogan of JLL represented Fullerton Properties in the transaction. Patrick Hill of Colliers represented the undisclosed buyer.
DAYTON, TEXAS — Liberty Development Partners has purchased 1,149 acres for an industrial expansion project in Dayton, about 40 miles northeast of Houston. The acreage represents the next phase of expansion of Gulf Inland Logistics Park, a rail-served, master-planned development. Tony Patronella of Read King Commercial Real Estate, along with Logan Havel and Charles Blaschke of Edge Realty Partners, represented the seller, private investor Sammi Damek, in the land transaction. John Littman, Kelley Parker and Coe Parker of Cushman & Wakefield represented Liberty Development Partners. Gulf Inland Logistics Park is ultimately planned for 3,800 acres across three phases of expansion.
HOUSTON — Lone Star PACE has provided $40 million in C-PACE financing for a 774,000-square-foot data center facility in Houston. The facility is located within ViVa Center, a 2.3 million-square-foot technology hub that originally housed the headquarters of Compaq Computer and was later acquired by Hewlett-Packard Enterprise. Lone Star PACE partnered with lender Nuveen Green Capital to administer the financing. Proceeds will be used to install sustainable building components to Phase I of the data center development, including energy-efficient windows, LED lighting, advanced HVAC systems and high-efficiency plumbing upgrades.
HOUSTON — Colliers has brokered the sale of Oaks of Kingwood, a 152-unit multifamily property in Kingwood, a master-planned community in northeast Houston. Oaks of Kingwood was originally built in two phases between 1984 and 1999 and offers one- and two-bedroom units with an average size of 876 square feet. Chip Nash, Bob Heard and Jaleel Adatia of Colliers represented the seller, an entity doing business as Kingwood Houston Oaks LP, in the deal. The buyer and sales price were not disclosed. Oaks of Kingwood was 99 percent occupied at the time of sale.