Sunday, December 22, 2024
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Texas

Forum-at-Grand-Prairie
AcquisitionsMultifamilyTexas

Cushman & Wakefield Brokers Sale of 304-Unit Forum at Grand Prairie Apartments

by Taylor Williams

GRAND PRAIRIE, TEXAS — Cushman & Wakefield has brokered the sale of Forum at Grand Prairie, a 304-unit apartment community located roughly midway between Dallas and Fort Worth. According to Apartments.com, the property offers one-, two- and three-bedroom units and amenities such as a pool, fitness center, business center, clubhouse and outdoor grilling and dining stations. Asher Hall and Grant Raymond of Cushman & Wakefield represented an undisclosed seller in the transaction. Locally based investment firm ClearWorth Capital purchased the property for an undisclosed price.

Continue Reading
FacebookTwitterLinkedinEmail
OfficeTexas

Pillar Commercial Recapitalizes 215,000 SF Office Building in Richardson, Texas

by Taylor Williams

RICHARDSON, TEXAS — Locally based investment firm Pillar Commercial has recapitalized Collins Square, a 215,000-square-foot office building located in the northeastern Dallas suburb of Richardson. The recapitalization retires the building’s existing debt and provides for a new ownership structure that includes Pillar’s current real estate fund vehicle. Travelers Insurance has been the anchor tenant at Collins Square, which recently underwent a range of capital improvements, since 2002.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsRetailTexas

AEW Capital Management Acquires 189,507 SF Shopping Center in Leander, Texas

by Taylor Williams

LEANDER, TEXAS — AEW Capital Management has acquired Bar W Marketplace, a 189,507-square-foot shopping center in Leander, a northern suburb of Austin. Anchored by grocer H-E-B, the center was fully leased at the time of sale. Other tenants include Chase Bank, Wells Fargo, Whataburger, Chili’s, Torchy’s Tacos and 7Brew Coffee. Barry Brown, Chris Gerard and Erin Lazarus of JLL represented the seller, a partnership led by Barshop & Oles Co., in the transaction. The firm also arranged acquisition financing through Manulife Real Estate Finance.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIndustrialTexas

Cove Capital Buys 68,400 SF Industrial Building in Northwest San Antonio

by Taylor Williams

SAN ANTONIO — Cove Capital Investments, a Delaware Statutory Trust (DST) company, has purchased a 68,400-square-foot industrial building in northwest San Antonio. The address was not disclosed, but the site is located one-third of a mile west of I-10 and less than two miles from the I-10/Loop 1604 intersection. The building was originally constructed in 2000 and carries a tenant roster with a weighted average lease term of 5.4 years. The seller and sales price were not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
IndustrialLeasing ActivityTexas

Finial Group Negotiates 24,500 SF Industrial Lease in Northwest Houston

by Taylor Williams

HOUSTON — Locally based brokerage firm Finial Group has negotiated a 24,500-square-foot industrial lease in northwest Houston. According to LoopNet Inc., the building at 11602 Canyon Trail Drive was originally built in 2011. Christian Villarreal of Finial Group represented the undisclosed landlord in the lease negotiations. The name and representative of the tenant were also not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
Alex Hoenig Valuations Walker & Dunlop
Content PartnerFeaturesIndustrialMidwestMultifamilyNortheastOfficeSoutheastTexasWalker & DunlopWestern

Multifamily, Industrial, Office Transaction Activity Trends Upward Amid Shifting Valuation Landscape

by Sarah Daniels

The spike in interest rates nearly three years ago brought investment sales to a virtual standstill, as deep disagreements over valuation between buyers and sellers dominated the market. While recent Federal Reserve cuts to the federal funds rate raised hope for a resurgence in transactions, ongoing volatility in the bond market, concerns about reemerging inflation and uncertainty over fiscal and monetary policy continued to weigh on a full-blown rebound in investment activity. The uncertain environment makes it difficult for investors to easily evaluate commercial property values, underscoring the importance of access to comprehensive, real-time data on transactions, market fundamentals and emerging trends, says Alex Hoenig, MAI, Midwest regional managing director at Apprise, Walker & Dunlop’s independent valuation firm. “Our understanding of current values for commercial real estate relies on transactions actually taking place, and sales velocity has started to inch back up,” reports Hoenig. “But there’s no question that there has been a lot of volatility in the market, which requires a local expert with access to a strong network and a constant pulse on market comparables.” Walker & Dunlop launched Apprise in 2020 to accelerate technology-driven solutions in the commercial real estate sector. Apprise serves owners and investors nationwide, …

Continue Reading
FacebookTwitterLinkedinEmail
AMLI-Treehouse-Addison
AcquisitionsDevelopmentMultifamilyRetailTexas

AMLI Residential Buys Midway Square Shopping Center in Metro Dallas, Plans Conversion

by Taylor Williams

ADDISON, TEXAS — AMLI Residential has purchased Midway Square Shopping Center in the northern Dallas metro of Addison with plans to convert the property into a multifamily community. The center, which was originally constructed in the 1980s, is located within the 79-acre Midway South neighborhood and has struggled in the aftermath of the pandemic, according to the brokers who worked on the deal. The new apartment community will be known as AMLI Treehouse and will consist of 570 apartments, 30 luxury rental townhomes, 56 for-sale townhomes, 3.7 acres of green space and 12,500 square feet of standalone retail space. Demolitions will begin in the coming days. The first move-ins are expected to commence during the first half of 2026, with full completion slated for 2027. Ben McCutchin and Sam Kartalis of locally based brokerage firm Younger Partners represented the seller in the transaction and procured AMLI as the buyer.

Continue Reading
FacebookTwitterLinkedinEmail
FIdelis-Willis
DevelopmentMultifamilyTexas

Cresset, Fidelis Break Ground on 252-Unit Multifamily Project in Willis, Texas

by Taylor Williams

WILLIS, TEXAS — A newly formed joint venture between Chicago-based Cresset Real Estate Partners and Houston-based Fidelis has broken ground on a 252-unit multifamily project in Willis, about 50 miles north of Houston. The nine-building development will be known as Fidelis Willis and will be located within the Moran Ranch master-planned community along the I-45 corridor. Fidelis Willis will consist of 120 one-bedroom units, 114 two-bedroom apartments and 18 three-bedroom residences. Amenities will include a pool, fitness center, clubhouse, game room and a dog park.  Construction is expected to be complete in the third quarter of 2026. 

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsHospitalityTexas

Marcus & Millichap Brokers Sale of 112-Room Hotel in Northwest Houston

by Taylor Williams

HOUSTON — Marcus & Millichap has brokered the sale of the 112-room Courtyard by Marriott Houston NW/290 hotel. The hotel was completed in 2014 and offers amenities such as a pool, fitness center, 1,920 square feet of meeting and event space and an onsite restaurant. Skyler Cooper of Marcus & Millichap represented the seller, an entity doing business as Unity Lodging LLC, in the transaction. Cooper, along with Marcus & Millichap’s Allan Miller and Chris Gomes, also procured the undisclosed buyer. Pete Fehlman and Jake Marshall of Marcus & Millichap Capital Corp. arranged an undisclosed amount of cquisition financing through a local bank.

Continue Reading
FacebookTwitterLinkedinEmail
IndustrialLeasing ActivityTexas

Avison Young Negotiates 27,200 SF Industrial Lease in Conroe, Texas

by Taylor Williams

CONROE, TEXAS — Avison Young has negotiated a 27,200-square-foot industrial lease in Conroe, about 40 miles north of Houston. The tenant is Membrane Platforms, and the space is located within NorthStar Industrial Park, a five-building, 79-acre development. Drew Coupe and Dawson Smith of Avison Young represented the landlord, BAUER Group, in the lease negotiations. Ron Wickes of Walzel Properties represented the tenant.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts