HUTCHINS, TEXAS — Lee & Associates has brokered the sale of a 52-acre industrial outdoor storage facility in Hutchins, a southern suburb of Dallas. According to LoopNet Inc., the property at 1700 Dowdy Ferry Road houses a 12,000-square-foot building, five drive-in bays and about 175 truck parking stalls that are leased on a month-to-month basis. Jarrett Huge and Alex Wilson of Lee & Associates represented the seller, Tribeca Truck Repair & Parking LLC, in the transaction. Jake Griffin and Mark Becker of Cushman & Wakefield represented the buyer, All State Truck & Trailer Repair.
HOUSTON — Prenuvo, a provider of whole-body MRI imaging services, has signed a healthcare lease in Houston’s River Oaks area. The company is taking space within a six-story, 52,342-square-foot building at 3720 Westheimer Road, which is also home to beauty clinic SkinPharm, plastic surgery specialist Nuveau and Occu-Health Surgery Center. Chris Wadley and Madeline Cleary of JLL represented the locally based landlord, Ancorian, in the lease negotiations. Kevin Klink and Walker Ryan of Colliers represented Prenuvo.
HOUSTON — Locally based brokerage firm Oxford Partners has negotiated a 19,973-square-foot industrial lease renewal in Houston’s Spring Branch area. According to LoopNet Inc., the property at 8353-8399 Kempwood Drive was built in 1980, totals 174,337 square feet and features 24-foot clear heights. John Harris, Stephen Hazen and Jacob Summers of Oxford Partners represented the tenant, Pioneer Millworks, in the lease negotiations. Ryan Patronella represented the landlord, Prologis, on an internal basis.
HOUSTON AND WEBSTER, TEXAS — Dallas-based EōS Fitness has signed two retail leases totaling 94,842 square feet in the Houston area. The deals are for 53,829 square feet at Center at Baybrook in Webster, a southwestern suburb, and 41,013 square feet at Easton Commons Plaza on the city’s northwest side. EōS Fitness will respectively backfill spaces formerly occupied by Bed Bath & Beyond and an undisclosed movie theater operator. Both openings are slated for 2025. Kevin Sims, Shireen Owlia and David Meyer of NewQuest Properties represented EōS Fitness in both sets of lease negotiations. Christi Vinzant internally represented the landlord, Kimco Realty, in the Webster deal. Kathy King and Charles Blaschke of Edge Realty Partners represented the undisclosed landlord in the East Commons deal.
DALLAS — SRS Real Estate Partners has arranged the sale of the $3.7 million ground lease sale of a 4,680-square-foot restaurant in Dallas that is triple-net-leased to Chick-fil-A. The building, which was constructed on 1.5 acres in 2023, is an outparcel to The Shops at Redbird, a 720,000-square-foot development on the city’s southwest side. Matthew Mousavi and Patrick Luther of SRS represented the seller, a Dallas-based developer, in the transaction. The buyer was a Dallas-based 1031 exchange investor. Both parties requested anonymity. The corporate-guaranteed lease has 14 years of term remaining.
SEGUIN, TEXAS — The Boulder Group has brokered the $2.4 million sale of a single-tenant net-leased (STNL) retail property in Seguin, located on the northeastern outskirts of San Antonio. The sale encompassed two buildings that are located across the street from one another and operated under a single lease with Joe Hudson’s Collision Center, an automotive repair operator with more than 200 locations nationwide. Zach Wright and Brandon Wright of Boulder Group represented the seller, a local investor, in the transaction. The buyer was a 1031 exchange investor. Both parties requested anonymity.
ARLINGTON, TEXAS — Lee & Associates has negotiated a 40,018-square-foot industrial lease in Arlington. According to LoopNet Inc., the property at 4100 New York Ave. was built in 2018 and totals 110,468 square feet. Mark Graybill and Reed Parker of Lee & Associates represented the landlord, New York City-based Link Logistics Real Estate, in the lease negotiations. Brian Gilchrist of CBRE represented the tenant, Lapgear, which provides surfaces for office and lifestyle activity usage.
For more than seven months in 2024, the commercial real estate investment market remained on a sluggish path. High interest rates continued to not only challenge many asset owners who needed refinancing, but also buyers and sellers looking to make deals. For instance, some $174.7 billion in property investment sales during the first half of the year was 7 percent below a year earlier, according to MSCI Real Assets. In such uncertain times, it’s not unusual for the commercial real estate market to experience bouts of bifurcation. Typically, those are marked by trends such as rising demand for higher quality offices during economic slumps when tenants can fetch discounted rents. Early in the recovery phase, it’s not unusual for investment to flow into tech-oriented metros at the expense of other cities. The Federal Reserve’s aggressive hike of the federal funds rate has created another category of bifurcation, especially as it relates to floating-rate bridge debt and how lenders are managing their loan portfolios. That is, the difference between the performance of assets depending on when owners financed the properties, says Jeff Salladin, a managing director with Dallas-based private debt fund Revere Capital. “It’s a question of vintage,” he explains. “Loans …
FORT WORTH, TEXAS — DICK’s Sporting Goods (NYSE: DKS) will open an 800,000-square-foot distribution center in Fort Worth, a move that is expected to create about 300 new jobs within the local economy over the next 10 years. The facility will be situated on an 89.5-acre site within Risinger/35 Logistics Park, a development by Hillwood on the city’s south side, and will serve more than 100 stores across several states. Construction of the facility, which is expected to create more than 800 temporary jobs, is scheduled to begin this fall and to be complete in early 2026. Nationally, the Pittsburgh-based retailer operates five other distribution centers in Georgia, New York, Arizona, Indiana and Pennsylvania.
CHANNELVIEW, TEXAS — A joint venture between Trammell Crow Co. (TCC) and an affiliate of South Atlantic Services is underway on construction of Carpenters Logistics Center, a 752,134-square-foot industrial project located in the eastern Houston suburb of Channelview. The development team has tilted the walls on the cross-dock building and is targeting January 2025 for delivery. Building features of Carpenters Logistics Center include a cross-dock configuration, 40-foot clear heights, 330 trailer parking stalls and an ESFR sprinkler system. The site also features five acres of contiguous industrial outdoor storage space. Seeberger Architecture designed the project, and D.E. Harvey Builders is serving as the general contractor. CBRE is the leasing agent.