FORNEY, TEXAS — StreetLevel Investments has welcomed new tenants to Village at Gateway, a 152-acre mixed-use project located in Forney, roughly 20 miles east of Dallas. The new operators include Dick’s Sporting Goods, EVO Entertainment, Verizon Wireless, Hand & Stone Massage & Facial Spa, Luna Grill, Costa Vida, Handel’s Ice Cream, Forney Nail Bar, Livewell, Solis and America’s Best Contacts & Eyeglasses. Plans for Village at Gateway also include future multifamily units, a 50-acre medical district and an additional 120,000 square feet of retail space.
HOUSTON — HRSS CPAs has signed a 19,569-square-foot office lease in Houston’s Westchase district. The accounting firm will relocate from the building at 6671 Southwest Freeway to a full floor within Millennium Tower, a 21-story, 362,849-square-foot building. Lucian Bukowski and Kylee Antweil of Stream Realty Partners represented HRSS in the lease negotiations. J.P. Hutcheson of Cushman & Wakefield represented the landlord, an entity doing business as Millennium Tower LLC.
MIAMI — Adler Real Estate Partners has received a $212.8 million loan for the refinancing of an eight-property industrial portfolio spanning several states in the Southeast and Texas. Together, the properties total 43 buildings and roughly 1.6 million square feet in Alabama, Florida, Maryland, North Carolina and Texas, located in markets including Austin, Dallas-Fort Worth, South Florida, Charlotte, Birmingham and the Baltimore-Washington corridor. The collection includes multi-tenant business parks and light industrial assets. At the time of financing, the properties were leased to more than 115 tenants within 22 industries, including the medical and pharmaceutical, building services, manufacturing, technology, professional services, healthcare and logistics industries. The average tenant tenure across the portfolio is 10.5 years. Melissa Rose, Michael DiCosimo, Jack Britton, Kate Rathman, Nicole Diaz and Magnus Kron of JLL Capital Markets secured the financing on behalf of the borrower. An undisclosed life insurance company provided the loan. Based in Miami, Adler Real Estate Partners specializes in acquiring and operating multi-tenant light industrial properties throughout the United States. This transaction marks the second major recapitalization for the company this year. In July, Adler secured a $343 million refinancing for a portfolio of light industrial assets, including $140 million in equity and …
KYLE, TEXAS — A joint venture between Houston-based developer NewQuest and Transwestern Investments has broken ground on the retail component of Kyle Park, a 101-acre mixed-use project located at the northeast corner of I-35 and Bebee Road in Central Texas. The retail component of Kyle Park will feature a 412,588-square-foot lifestyle center that is preleased to tenants such as Dick’s Sporting Goods, Burlington, HomeGoods, ULTA Beauty, TJ Maxx, Barnes & Noble, Boot Barn and EōS Fitness. The development is also planned to include hospitality and multifamily uses. An expected completion date for the retail component was not announced.
FORT WORTH, TEXAS — A joint venture between Alliance Industrial Co. and institutional investment firm BGO has acquired Northwest Commerce Park Building 2, a 266,152-square-foot building in Fort Worth. The single-story building, which fronts State Highway 114, was constructed in 2020 and features a front-load configuration, 36-foot clear heights, 51 dock-high doors, two drive-in doors and parking for 135 cars and 46 trailers. The joint venture acquired the property in an off-market transaction. The seller and sales price were not disclosed.
DALLAS — Locally based development and investment firm Henley Capital is underway on a hotel redevelopment project near downtown Dallas. Demolition of the former City Inn & Suites hotel at 223 S. Ewing Ave., which is located adjacent to Halperin Park and about four miles south of downtown, began in mid-August. Henley Capital plans to redevelop the site into a mixed-use property with multifamily and retail components, with the potential to incorporate other uses as well. Susser Bank is financing the project, an expected completion date of which was not announced.
THE WOODLANDS, TEXAS — Three tenants — indoor children’s playground Happy Land, arts and crafts studio Make Art and golf-based entertainment concept Tee Box — have signed retail leases in The Woodlands, about 30 miles north of Houston. The square footages were not disclosed. The spaces are situated within Augusta Woods, a retail center located at 25903 Elmfield Drive. Axel Hevener and Rob Banzhaf of Newcor Commercial Real Estate represented the undisclosed landlord in the lease negotiations.
HOUSTON — Marcus & Millichap has brokered the portfolio sale of five self-storage facilities totaling 1,042 units in the greater Houston area. Two facilities are located in the northwestern suburb of Waller, and the other three facilities are scattered across the suburbs of Brookshire, Pattison and Hockley. The portfolio totals 148,745 net rentable square feet of climate- and non-climate-controlled space and includes both boat and RV storage spaces and more than 12 acres for future expansion. Dave Knobler, Mixson Staffel and Charles LeClaire of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.
MCKINNEY, TEXAS — April Housing, Blackstone Real Estate’s affordable housing division, is underway on the $19.3 million renovation of Skyway Villas, a 232-unit complex in the northern Dallas suburb of McKinney. The 13-buiding community was constructed in 2003. The renovation is part of a re-syndication that will preserve the property’s affordability status for another 30 years. Upgrades will include new flooring and countertops, fresh exterior painting, new water heaters and HVAC systems, accessibility improvements and enhancements and additions to the residential amenities.
HOUSTON — The Dinerstein Cos., a locally based owner-operator, has sold 3411 Richmond, an 82,692-square-foot office building in Houston’s Greenway Plaza district. The seven-story office building was constructed in 1968 (renovated in1996) and was 89 percent leased at the time of sale. Marty Hogan of JLL and David Anderson of Cresa co-represented The Dinerstein Cos. in the transaction. Evelyn Ward and Paula Musa of Transwestern represented the buyer, HRGI Development LLC.