BEE CAVE, TEXAS — Velocis, a Dallas-based investment and development firm, has sold West Austin Business Park, a 270,000-square-foot industrial property in Bee Cave, a western suburb of Austin. Velocis developed the property, which consists of three buildings that were constructed on a speculative basis, in partnership with KBC Advisors. The buyer, locally based aerospace engineering firm CesiumAstro, plans to establish a manufacturing and research headquarters facility at West Austin Business Park.
FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of Overton Park Professional Center, an 18,102-square-foot medical office complex in Fort Worth. The two-building property was built in 2000 and was fully leased at the time of sale. Chris Gainey and Philip Levy of Marcus & Millichap represented the seller, a local private partnership, in the transaction. Levy also procured the buyer, a New York-based 1031 exchange investor, in conjunction with Marcus & Millichap’s Zan Colin.
The March 2 France Media webinar “Flood Zones & FEMA Compliance — How Developers Avoid Delays, Cut Insurance Costs & Increase Property Value,” hosted by France Media and sponsored by National Flood Experts, examined how flood zones and evolving regulatory requirements are shaping development and financing outlooks. Flood risk is often treated as a late-stage compliance issue, but it can influence site design, permitting timelines, construction costs (and cost expectations) and long-term insurance expenses. Flood maps established by federal and local authorities define development constraints such as base flood elevations and floodways. Because these maps are updated slowly and regulations vary by municipality, developers frequently encounter unexpected complications during permitting, including the need for additional engineering studies, modeling requirements and extended approval timelines. The webinar panelists emphasized ways that developers can mitigate these risks by approaching flood zones strategically and incorporating flood analysis earlier in the development lifecycle. Early collaboration can identify opportunities to cut costs and avoid delays. Watch this brief webinar to learn about common problems caused by flood zones, changes in regulatory needs and practical pathways to help reduce or eliminate flood zone requirements (to increase the value of properties). Click here to download the slide presentation. …
DENTON, TEXAS — Texas Woman’s University (TWU) has opened the $107 million health sciences center at its campus in the North Texas city of Denton. The 136,000-square-foot facility serves students in the allied healthcare fields, such as nursing, physical therapy and occupational therapy. The new health sciences center was constructed on seven acres adjacent to Parliament Village, a TWU residential complex. The facility houses laboratory space, classrooms, collaborative workspaces, outdoor clinic sites and a teaching kitchen, as well as community healthcare clinics and training areas for students. Construction began in fall 2023 and topped out in August 2024.
TEXAS CITY, TEXAS — Florida-based real estate private equity firm Eastham Capital has sold Veranda, a 200-unit apartment complex in Texas City, a southeastern suburb of Houston. Veranda offers one-, two- and three-bedroom units that are furnished with stainless steel appliances, granite countertops and individual washers and dryers. Amenities include a pool, fitness center, clubhouse, basketball court and a movie theater. Eastham acquired the property in 2018 in a joint venture with Mosaic Residential and subsequently implemented capital improvements. The buyer and sales price were not disclosed. Veranda was 95 percent occupied at the time of sale.
NORTH RICHLAND HILLS, TEXAS — Bradford Commercial Real Estate Services has arranged the sale of a 124,380-square-foot industrial building in North Richland Hills, a northeastern suburb of Fort Worth. The building was developed in 1981 on an 11-acre site at 6550 Wuliger Way and includes 12,500 square feet of office space. Luke Clardy of Bradford represented the buyer and future occupant, Sunair Products, a wholesale distributor of air conditioning components, in the transaction. Will Carney and Brad Balke of KBC Advisors represented the undisclosed seller.
EULESS, TEXAS — A partnership between California-based investment firm Birtcher Anderson & Davis and Baltimore-based ABR Capital Partners has purchased a 50,112-square-foot industrial park in Euless, located near DFW International Airport. The property is known as Airport Circle Business Park and offers 14 suites. Rich Young Jr. of Rich Young Co. represented the undisclosed seller in the transaction.
DALLAS — Local developer StreetLights Residential has broken ground on a 20-story apartment building in Dallas. The site is located at the southeast corner of Park Lane and U.S. Highway 75, and the building will offer 365 units in studio, one-, two- and three-bedroom floor plans that will range in size from 505 to 1,707 square feet. Residences will be furnished with stainless steel appliances, custom cabinetry and keyless entry mechanisms, while select units will feature wine refrigerators and built-in desks. Amenities will include a pool, fitness center, game room, private dining room, coffee bar, pet wash station, lounge and outdoor grilling and dining stations. StreetLights is developing the project in partnership with Mitsui Fudosan America. Completion is slated for early 2029.
CROWLEY, TEXAS — Marcus & Millichap has brokered the sale ofDry Dock & Lock, a 466-unit self-storage facility in Crowley, a southern suburb of Fort Worth. Built on 20 acres in 2021, Dry Dock & Lock totals 200,940 rentable square feet of space across a mix of enclosed, covered and uncovered parking spaces for boats and RVs, as well as traditional storage units. Danny Cunningham, Brandon Karr and Jon Danklefs of Marcus & Millichap represented the seller in the transaction. Cunningham and Karr also procured the Canadian buyer. Both parties requested anonymity.
KATY, TEXAS — A partnership between New York City-based Rockefeller Group and Pelican Builders has begun leasing Hudson Crossing, a 298-unit multifamily project in the western Houston suburb of Katy. Hudson Crossing offers one-, two- and three-bedroom residences that are furnished with stainless steel appliances, white quartz countertops, designer tile backsplashes, individual washers and dryers and private balconies. Select residences feature private yards. Amenities include a pool, fitness center, resident clubhouse with a coworking lounge and outdoor gathering areas with grills. Rents start at roughly $1,400 per month for a one-bedroom apartment.