DALLAS — Texas-based investment firm SkyWalker Property Partners has purchased The Crossings, a 232,541-square-foot office building in North Dallas. The 10-story building was constructed in 1986 on a 2.6-acre site along the Lyndon B. Johnson Freeway and was renovated in 2018. Todd Savage of Cushman & Wakefield, along with Ben Esterer and Keenan Ryan of JLL, represented the seller, Goddard Investment Group, in the transaction. Jack Mock and Chris Aguilar represented SkyWalker, which plans to upgrade select areas, on an internal basis.
Texas
AUSTIN, TEXAS — Houston-based Lionstone Investments has sold University Park, a 206,657-square-foot office building located just north of downtown Austin for $26 million. The building was constructed in 2008 and was approximately 20 percent leased at the time of sale. Ryan Stevens and Drew Fuller of JLL represented Lionstone in the transaction. The City of Austin purchased the building and plans to occupy the space as well.
ALVIN, TEXAS — The Multifamily Group (TMG), a Dallas-based brokerage firm, has negotiated the sale of Highland Square, a 104-unit apartment complex located southeast of Houston in Alvin. The complex was built in 1973 and offers one-, two- and three-bedroom units, as well as a pool and onsite laundry facilities. The buyer and seller were not disclosed.
NEW CANEY, TEXAS — Havertys Furniture will open a 41,500-square-foot showroom at Valley Ranch, a master-planned development located northeast of Houston in New Caney. The space will feature an open layout and will be the third in the greater Houston area for the Atlanta-based retailer. The opening is slated for the fall. Signorelli Co. owns Valley Ranch.
CORPUS CHRISTI, TEXAS — Dwight Mortgage Trust, the affiliate REIT of New York City-based Dwight Capital, has provided a $36 million bridge loan for the refinancing of La Joya by Azali, a 336-unit waterfront apartment community in Corpus Christi. The property comprises 14 three-story residential buildings that house 120 one-bedroom units, 192 two-bedroom residences and 24 three-bedroom apartments. Units feature granite countertops, stainless steel appliances and private patios/balconies. Amenities include a pool, fitness center, business center, clubhouse, dog park, playground, media/game room, demonstration kitchen, conference room, billiards lounge and outdoor grilling and dining stations. The borrower was Azali Homes.
MONTGOMERY, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Harbor Shores, a 284-unit apartment community located north of Houston in Montgomery. The property, which was built in phases between 2016 and 2023, is located on the shores of Lake Conroe and offers one-, two- and three-bedroom units. Amenities include two pools, pickleball courts, a fitness center, clubhouse, and business center. Greg Austin, Travis Austin, Jackson Hart and Will Balthrope of IPA, along with Kyle Devillier of Marcus & Millichap, represented the seller, an entity doing business as NRG Conroe Villas LP, in the transaction. The quintet also procured the buyer, CEG Multifamily.
WYLIE, TEXAS — Locally based brokerage firm STRIVE has arranged the sale of a 23,900-square-foot warehouse in Wylie, a northeastern suburb of Dallas. According to LoopNet Inc., the property at 1141 Bozman Road comprises four buildings that were delivered in phases over the past several years, with Phase I completed in 2022 and Phase II completed in early 2024. Bryan Meyer and Jennifer Pierson of STRIVE represented the seller and procured the buyer, both of which were California-based investors that requested anonymity.
ALVARADO, TEXAS — Bradford Commercial Real Estate Services has negotiated a 16,000-square-foot lease at an industrial flex building in Alvarado, a southern suburb of Fort Worth. The tenant, Legend Conversion, which provides custom automotive build-outs, will occupy the entire building at 4209 Longhorn Drive, which features 25-foot clear heights, four grade-level doors and two dock-high doors. Todd Lambeth and Cade Navarro of Bradford represented the landlord, AAN Development LLC, in the lease negotiations.
DALLAS — Clear Technologies Inc., a provider of data storage and management services, has signed an 8,286-square-foot office lease at The Quorum, a five-story, 86,750-square-foot building in North Dallas. Michael Doherty of Lincoln Property Co. represented the tenant, which is relocating from the nearby building at 16415 Addison Road, in the lease negotiations. Sunwest Real Estate Group owns The Quorum.
By Taylor Williams Sometimes you just have to keep it real. In the world of mixed-use retail, featuring a blend of shops, restaurants and entertainment venues that is both unique in its totality and true to its surrounding market on individual levels is crucial to placemaking. As a concept, placemaking is somewhat difficult to define on paper but fairly easy to identify in the moment — the undeniable sense that the combination of what you are buying, eating, drinking and experiencing is simply not replicable anywhere else. Placemaking is, ironically, an idea that is very difficult to quantify, yet is intrinsically worth every dollar spent on design, construction and marketing — and then some. A longtime developer of mixed-use properties in Dallas once told this writer that the idea of bringing together a critical mass of residential, office and hospitality uses within one site — threaded and connected by retail, restaurants, green spaces and walkable infrastructure — is only novel to American consumers. Europeans have lived, worked and played that way for decades. And thanks to rolling swaths of land, surging population growth, rapidly evolving public infrastructure and the good-ole pro-business mindset, Texas has positioned itself as a leader in …