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Artistry-Design-District-Houston
DevelopmentMultifamilyTexas

McGrath Real Estate Completes 400-Unit Multifamily Project in Houston

by Taylor Williams

HOUSTON — Locally based developer McGrath Real Estate Partners has completed a 400-unit multifamily project in Houston’s Design District. Artistry Design District offers studio, one- and two-bedroom units that are furnished with quartz countertops, tile backsplashes, built-in desks, walk-in closets, stainless steel appliances and individual washers and dryers. Amenities include a pool, fitness center, resident lounges, a communal kitchen, coworking spaces and a pet park. Artistry Design District also features a stage for live music and other entertainment events. Move-ins are underway, and the property is now 57 percent occupied.

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DevelopmentLoansMultifamilyTexas

S3 Capital Provides $46.5M Construction Loan for Denton Multifamily Project

by Taylor Williams

DENTON, TEXAS — S3 Capital, the lending arm of New York City-based investment firm Spruce Capital Partners, has provided a $46.5 million construction loan for a 306-unit multifamily project in the North Texas city of Denton. Phase I of the garden-style development will consist of three 12-story buildings, and the property will ultimately offer amenities such as a pool, fitness center, business center and a dog park. Mauricio Ordoñez, Gastón Schneider and Carlos Vázquez of Florida-based Q Kapital Group arranged the loan on behalf of the sponsor, national developer Landmark Cos. Information on floor plans and a construction timeline was not disclosed.

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AcquisitionsOfficeTexas

Cresa Arranges Sale of 124,480 SF Office Building in North Houston

by Taylor Williams

HOUSTON — Cresa has arranged the sale of a 124,480-square-foot office building in North Houston. The building sits on a 10-acre site at 785 Greens Parkway in the city’s Greenspoint neighborhood. According to LoopNet Inc., the building was originally constructed in 2002 and recently underwent capital improvements that upgraded select areas and systems, such as lighting and restrooms. Brandon Wuntch and Drew Altmann of Cresa represented the seller, GK Investments Group LLC, in the transaction and procured the buyer, Leva Patidar Samaj.

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IndustrialLeasing ActivityTexas

Stream Realty Partners Negotiates 94,931 SF Industrial Lease in Brookshire, Texas

by Taylor Williams

BROOKSHIRE, TEXAS — Stream Realty Partners has negotiated a 94,931-square-foot industrial lease in the western Houston suburb of Brookshire. The space is located within the 2.3 million-square-foot Empire West Business Park development. Jeremy Lumbreras, Heath Donica, Justin Robinson and Matteson Hamilton of Stream internally represented the landlord in the lease negotiations. Abraham Richardson and Grant Wisenbaker, also with Stream, represented the tenant, Pointsmith Point-of-Purchase Management Services LLC.

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DevelopmentOfficeTexas

KDC Breaks Ground on 13,500 SF Headquarters, Training Facility in McKinney, Texas

by Taylor Williams

MCKINNEY, TEXAS — Locally based developer KDC has broken ground on a 13,500-square-foot headquarters and training facility in the northern Dallas suburb of McKinney. The project is a build-to-suit for Hugs Café, an organization dedicated to providing training and employment for adults with disabilities, and will feature a training kitchen, four classrooms, a rooftop deck and a patio. Corgan is the architect, and Brasfield & Gorrie is the general contractor. Completion is slated for next summer.

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AcquisitionsIndustrialTexas

Basis Industrial Buys 519,000 SF Portfolio in Richardson, Will Open New Office

by Taylor Williams

RICHARDSON, TEXAS — Florida-based investment firm Basis Industrial has purchased a portfolio of 24 buildings totaling approximately 519,000 square feet in the northeastern Dallas suburb of Richardson. The portfolio consists of Arapaho Business Park, a 408,000-square-foot development, and the 111,000-square-foot Westwood Business Park. Basis also plans to open a new regional office within Building 7 at Arapaho Business Park. The seller and sales price were not disclosed.

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Leasing ActivityRetailTexas

EōS Fitness to Open 38,602 SF Gym in Northwest San Antonio

by Taylor Williams

SAN ANTONIO — EōS Fitness will open a 38,602-square-foot gym in northwest San Antonio. The site is located within Bandera Pointe shopping center in the Braun’s Farm neighborhood, and the Dallas-based operator will backfill a space previously occupied by Gold’s Gym. Rise Commercial Partners represented EōS Fitness in the lease negotiations. Global Commercial Real Estate Services represented the landlord, Bridge33 Capital. The opening is set for next year.

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AcquisitionsTexas

Stream Realty Negotiates Sale of 35,650 SF Commercial Development Site in South Houston

by Taylor Williams

HOUSTON — Stream Realty Partners has negotiated the sale of a 35,650-square-foot commercial development site located at 8323 Braniff St. in Houston. The site is located near William P. Hobby International Airport on the city’s south side. The site’s specific zoning designation was not disclosed. Jack Rathe of Stream represented the sellers, a pair of private investors, in the transaction. Daniel McKinney with McKinney Real Estate Inc. represented the buyer.

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AcquisitionsRetailTexas

JLL Brokers Sale of 31,832 SF Retail Center in Northwest Austin

by Taylor Williams

AUSTIN, TEXAS — JLL has brokered the sale of San Clemente at Davenport, a 31,832-square-foot retail center located at the corner of Loop 360 and West Lake Drive in northwest Austin. Mexican restaurant Fresa’s anchors the center, and other tenants include Iron Fitness and Greenlake Energy. JLL represented the seller, Texas-based HPI Real Estate Services & Investments, in the transaction. Houston-based Whitestone REIT purchased the center for an undisclosed price.

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Leasing ActivityOfficeTexas

Law Firm Signs 25,024 SF Office Lease at Harwood District in Uptown Dallas

by Taylor Williams

DALLAS — McDermott Will & Emery has signed a 25,024-square-foot office lease at the 19-block Harwood District in Uptown Dallas. The international law firm is relocating within the district to the top floor of Harwood No. 14, which is the newest addition to the development. The space can accommodate about 65 lawyers and staff. No third-party brokers were involved in the lease negotiations.

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