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Volkswagen-Fate-Texas
AcquisitionsRetailTexas

Auto Dealer Acquires 5.3 Acres in Fate, Texas for New Volkswagen Dealership

by Taylor Williams

FATE, TEXAS — A limited liability company led by Christopher Zamora, whose family operates 20 car dealerships around the country, has acquired 5.3 acres in Fate, located in Rockwall County, for a new Volkswagen dealership. Thurston Witt of CBRE represented the buyer and seller, an entity doing business as Petro-Hunt LLC, in the disposition of the land. The facility will be the Zamora Family’s fourth Volkswagen dealership in the country and first in the Dallas-Fort Worth metroplex. Timelines for construction and opening were not released.

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AcquisitionsIndustrialTexas

Matthews Real Estate Negotiates $5.2M Sale of Fort Worth Industrial Building

by Taylor Williams

FORT WORTH, TEXAS — California-based brokerage firm Matthews Real Estate Investment Services has negotiated the $5.2 million sale of a 69,000-square-foot industrial building occupied by Beacon Roofing Supply in Fort Worth. According to LoopNet Inc., the property at 5328 E. Lancaster Ave. was built on 7.2 acres in 1969 and renovated earlier this year. Building features include 16-foot clear heights and four dock-high loading doors. Alexander Harrold of Matthews represented the seller in the transaction. The buyer was a Nashville-based family office. Both parties requested anonymity.

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LoansRetailTexas

MMCC Arranges $5M Acquisition Loan for Retail Property in McKinney, Texas

by Taylor Williams

MCKINNEY, TEXAS — Marcus & Millichap Capital Corp. (MMCC) has arranged a $5 million acquisition loan for an undisclosed retail property located in the northern Dallas suburb of McKinney. A medical clinic and dollar store anchor the property, which was built in 2020. Adam Pike of MMCC arranged the debt. The borrower and direct lender were not disclosed.

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AcquisitionsIndustrialLee & AssociatesTexas

Lee & Associates Brokers Sale of 40,546 SF Industrial Building in East Dallas

by Taylor Williams

DALLAS — Lee & Associates has brokered the sale of a 40,546-square-foot industrial building in East Dallas. According to LoopNet Inc., the property at 3700 Dilido Road was originally built in 2002. Taylor Stell and Brett Lewis of Lee & Associates represented the buyer and seller, both of which requested anonymity, in the transaction. The sales price was also not disclosed.

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Sunrise-Commerce-Center-Round-Rock
DevelopmentIndustrialTexas

IDI Logistics Breaks Ground on 465,786 SF Spec Industrial Project in Round Rock, Texas

by Taylor Williams

ROUND ROCK, TEXAS — Developer IDI Logistics has broken ground on Sunrise Commerce Center, a 465,786-square-foot speculative industrial project in the northern Austin suburb of Round Rock. The development will consist of five buildings that will be constructed in phases on a 37-acre site. Phase I will feature three rear-load buildings that will range in size from 59,274 to 175,170 square feet and are expected to be complete in fall 2023. Other project partners include 5G Studio Collaborative, Pacheco Koch (civil engineer), Adolfson & Peterson Construction and Stream Realty Partners (leasing agent).

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Three-Eldridge-Houston
Leasing ActivityOfficeTexas

Fluor Corp. Signs 308,186 SF Office Lease in Houston’s Energy Corridor

by Taylor Williams

HOUSTON — Fluor Corp. (NYSE: FLR) has signed a 308,186-square-foot office lease in Houston’s Energy Corridor. The Texas-based engineering and construction firm will occupy the entirety of Three Eldridge for the next 12 years. Jon Dutton and Andrew Elliott represented the landlord, Granite Properties, in the lease negotiations on an internal basis. Rick Kaplan, David Guion and Chris Oliver of Cushman & Wakefield represented Fluor Corp., which plans to move about 1,600 employees into the 13-story building in the second quarter of 2024.

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AcquisitionsMultifamilySeniors HousingTexas

Greysteel Brokers Sale of 154-Unit Age-Restricted Multifamily Property in Grand Prairie, Texas

by Taylor Williams

GRAND PRAIRIE, TEXAS — Greysteel has brokered the sale of Wright Senior Apartments, a 154-unit age-restricted multifamily property located in the central metroplex city of Grand Prairie. The community, which is reserved for residents age 62 and over, was constructed in 2005 and houses 123 income-restricted units and 31 market-rate units in a mix of studio, one- and two-bedroom floor plans. Murphy Holloway and Doug Banerjee of Greysteel represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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IndustrialLeasing ActivityLee & AssociatesTexas

Lee & Associates Negotiates 19,386 SF Industrial Lease in Garland, Texas

by Taylor Williams

GARLAND, TEXAS — Lee & Associates has negotiated a 19,386-square-foot industrial lease at 3520 W. Miller Road in Garland, a northeastern suburb of Dallas. According to LoopNet Inc., the property was built in 2003 and totals 64,500 square feet. Taylor Stell of Lee & Associates represented the tenant, HVAC equipment supplier Timberlake & Dickson, in the lease negotiations. Josh Barnes of Holt Lunsford Commercial represented the landlord, The Realty Associates Fund XI.

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Leasing ActivityRetailTexas

Hibbett Sports to Open 7,686 SF Store in Northwest Houston

by Taylor Williams

HOUSTON — Athletics apparel and equipment retailer Hibbett Sports will open a 7,686-square-foot store at Northwest Crossing Shopping Center, a 181,239-square-foot regional power center in northwest Houston. The opening is scheduled for the fall. Jason Gaines of Sturbridge Commercial Real Estate represented the undisclosed landlord in the lease negotiations. Randy Moudry of Moudry Real Estate Advisors represented Hibbett Sports. Other tenants at the center include Target, Burlington and Marshalls.

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AcquisitionsMultifamilyTexas

Nord Group Acquires 248-Unit Apartment Community in North Austin

by Taylor Williams

AUSTIN, TEXAS — The Nord Group, a private equity firm with offices in New York City and Houston, has acquired The Park at Crestview, a 248-unit apartment community in North Austin. Built in 1970, the property consists of 37 two-story buildings on a 13-acre site. Residences come in one-, two- and three-bedroom floor plans, and amenities include a pool, playground and a dog park. Austin Marshak of New York City-based brokerage firm Rosewood Realty Group represented Nord Group in the transaction. Mike Kerwin and Scott Bernstein, also with Rosewood, represented the seller, Houston-based investment firm Nitya Capital.

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