Reports: Texas Bar Owners File Suit to Block Governor Abbott’s Shutdown Order

AUSTIN, TEXAS — On Monday, a group of about 25 bar owners filed a lawsuit in Travis County District Court challenging Texas Gov. Greg Abbott’s executive order to shut down bars across the state following a recent surge in COVID-19 cases. The Austin-American Statesman first reported the news and notes that the lawsuit is predicated on the notion that Abbott’s order suspends state laws, a power that is reserved strictly for the Texas Legislature. Multiple outlets including The Texas …

June 30, 2020Retail, Texas

Whole Foods Opens 35,000 SF Store at Saltillo in East Austin

AUSTIN, TEXAS — Whole Foods Market has opened its 35,000-square-foot store at Saltillo, a mixed-use development in East Austin by Endeavor Real Estate Group. The store has served as a fulfillment center for other regional stores during most of the COVID-19 pandemic. The store now offers fresh produce from 75 different growers, full-service meat and seafood departments, a bakery, coffee kiosk and more than 1,000 different wines and 280 different beers, including 150 selections from local …

June 30, 2020Development, Retail, Texas

DebtBlue Signs 30,291 SF Office Headquarters Lease in Metro Dallas

RICHARDSON, TEXAS — DebtBlue, a national debt service settlement firm, has signed a 30,291-square-foot office lease for its new headquarters at 1125 E. Campbell Road in the northeastern Dallas suburb of Richardson. The company is expanding and relocating from a 6,000-square-foot space in nearby Addison. Ryan Hoopes of Cushman & Wakefield represented the tenant in the lease negotiations. Clint Madison and John Fancher, also with Cushman & Wakefield, represented the landlord, Los …

June 30, 2020Leasing Activity, Office, Texas

Cushman & Wakefield Brokers Sale of Historic Republic Building in Downtown Houston

HOUSTON — Cushman & Wakefield has brokered the sale of the Republic Building, a 19,850-square-foot office property located at 1018 Preston St. in downtown Houston. The building was originally constructed in 1907, housed the U.S. District Court in 1910 and was admitted to the National Register of Historic Places in 1979. Scott Miller, David Cook and Jeff Peden of Cushman & Wakefield represented the seller, Republic Building TX LP, in the transaction. Fred Ghabriel of Bejjani & …

June 30, 2020Acquisitions, Office, Texas

NAI Partners Arranges Sale of 17,400 SF Industrial Building in Houston

HOUSTON — NAI Partners has arranged the sale of a 17,400-square-foot industrial building located at 1702 Nance St. in Houston. According to LoopNet Inc., the property was built in 1978. Chris Caudill and Jake Wilkinson of NAI Partners represented the seller, 125 West Crosstimbers Ltd., in the transaction. Clark Dalton of Dosch Marshall represented the buyer, Urban Genesis

June 30, 2020Acquisitions, Industrial, Texas

Texas Data Centers & Covid-19: How The Pandemic Has Impacted Absorption

By Edward Henigin, Chief Technical Officer, Data Foundry The COVID-19 pandemic has been a highly disruptive force in the global market, changing the way businesses, communities and economies operate today — and perhaps into the future. While uncertainty has defined this challenging time, trends have been developing in the wake of the virus’ worldwide impact. One of the most prominent trends has been the shift to remote and digital means of working, communicating and learning. Across …

June 30, 2020Data Centers, Industrial, Market Reports, Texas, Texas Market Reports

Granite Properties to Undertake 623,624 SF Office Redevelopment Project in Uptown Dallas

DALLAS — Granite Properties will redevelop Cedar Maple Plaza, an office complex located at the corner of Cedar Springs Road and Maple Avenue in Uptown Dallas. Granite will rebrand the new 623,624-square-foot mixed-use office property as 23Springs. The locally based developer will demolish three existing buildings on the 2.5-acre site and build a 26-story office tower, two detached buildings that will house 16,000 square feet of restaurant space and a small park. Amenities at 23Springs will …

June 29, 2020Development, Office, Texas

Songy Highroads, Wampold Complete 335-Room Margaritaville Resort in Conroe, Texas

CONROE, TEXAS — A joint venture between Atlanta-based Songy Highroads and Louisiana-based Wampold Cos. has completed Margaritaville Lake Resort, a 335-room hotel located on Lake Conroe, about 40 miles north of Houston. The property is situated on 186 acres and is the first Texas resort of the Margaritaville brand, which features activities and amenities with themes from the music of Jimmy Buffett. The resort offers an 18-hole golf course, waterpark with outdoor pools, tennis courts, fitness …

June 29, 2020Development, Hospitality, Texas

KeyBank Provides $43.8M Freddie Mac Financing for Affordable Housing Project in Central Texas

SAN MARCOS, TEXAS — KeyBank Real Estate Capital has provided $43.8 million in Freddie Mac financing for Reserves at San Marcos, a 376-unit multifamily project in San Marcos, roughly midway between Austin and San Antonio. Approximately 80 percent of the units are reserved for renters earning up to 60 percent or less of the area median income. Units will feature one-, two- and three-bedroom floor plans ranging in size from 650 to 1,350 square feet. Robbie Lynn and Hector Zuniga of KeyBank …

June 29, 2020Loans, Multifamily, Texas

IPA Negotiates Sale of 144-Unit Parkwood Terrace Apartments in Metro Austin

ROUND ROCK, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Parkwood Terrace, a 144-unit multifamily community located in the northern Austin suburb of Round Rock. Built in 2000, the property features one-, two- and three-bedroom units and amenities such as a pool, fitness center, business center and resident clubhouse. Jordan Featherston, Will Balthrope, Drew Kile, Drew Garza and Kent Myers of IPA represented the seller, …

June 29, 2020Acquisitions, Multifamily, Texas