Texas

Lovett Industrial, Cresset Partners Break Ground on 274,416 SF Project in Wylie, Texas

by Taylor Williams April 10, 2023

WYLIE, TEXAS — A partnership between Houston-based developer Lovett Industrial and Chicago-based investment firm Cresset Partners has broken ground on Wylie Business Center, a 274,416-square-foot project that will be located on the southern outskirts of Dallas. Building features will include a rear-load configuration, 36-foot clear heights, 55 dock-high doors, 185-foot truck court depths, 77 trailer parking stalls and 154 car parking spaces. Ware Malcolmb is the project architect, and Conlan Co. is the general contractor. JLL will market the property for lease. Completion is slated for December.

April 10, 2023

Acquisitions Multifamily Texas

Brixton Capital Acquires 144-Unit Atlee Apartments in San Antonio

by Taylor Williams April 10, 2023

SAN ANTONIO — California-based investment firm Brixton Capital has acquired The Atlee, a 144-unit apartment complex in San Antonio’s Olmos Park neighborhood. The property features one-, two- and three-bedroom units and amenities such as a pool, courtyard, dog park and a clubhouse. Michael Wardlaw and Colin Cannata of CBRE represented the undisclosed seller in the transaction. Brixton Capital, which will implement a value-add program, was self-represented. The Atlee was 97 percent occupied at the time of sale.

April 10, 2023

Leasing Activity Office Texas

Goree Architects Signs 21,392 SF Office Lease Expansion at Sage Plaza in Houston

by Taylor Williams April 10, 2023

HOUSTON — Goree Architects has signed a 21,392-square-foot office lease expansion at Sage Plaza, a 25-story building in Houston’s Galleria district. Sage Plaza spans 530,977 square feet and offers a fitness center, auditorium, coffee bar and an outdoor lounge area. Jessica Ochoa of CBRE represented the landlord, institutional investment firm BlackRock, in the lease negotiations. Anthony Squillante and Collin Roach of Avison Young represented the tenant, which is doubling its space and will now occupy the entire 16th and 17th floors.

April 10, 2023

Development Multifamily Texas

Legacy Partners, Resmark Break Ground on 336-Unit Multifamily Project in Metro Dallas

by Taylor Williams April 7, 2023

FORNEY, TEXAS — A partnership between two California-based firms, developer Legacy Partners and investment manager Resmark Cos., has broken ground on Legacy Gateway, a 336-unit multifamily project in the eastern Dallas suburb of Forney. The community will consist of five three-story buildings on a 14-acre site. Units will come in studio, one- and two-bedroom formats and will range in size from 540 to 1,360 square feet. Amenities will include a pool, outdoor kitchen and gaming courtyard, fitness center, coworking lounge, coffee bar and two dog parks. JHP Architecture is designing the project, and BBL Building Co. is serving as the general contractor. Full completion is slated for spring 2025.

April 7, 2023

Acquisitions Industrial Texas

MDH Partners Acquires Fort Worth Industrial Building Leased to Samsung for $67.5M

by Taylor Williams April 7, 2023

FORT WORTH, TEXAS — Atlanta-based investment firm MDH Partners has acquired Fort Worth Logistics Hub Building 1, a 670,914-square-foot industrial property, for $67.5 million. Built on 39 acres in 2022, the building was fully leased to Samsung SDS America at the time of sale and features 36-foot clear heights and 245 parking spaces. Eastdil Secured represented the undisclosed seller in the transaction. Joe DeHaven negotiated the deal for MDH Partners on an internal basis.

April 7, 2023

Acquisitions Industrial Self-Storage Texas

Apricus Realty Capital Buys Nine-Acre Industrial Outdoor Storage Facility in Dallas

by Taylor Williams April 7, 2023

DALLAS — Locally based investment firm Apricus Realty Capital has acquired a nine-acre industrial outdoor storage facility located at 11801 C.F. Hawn Freeway in southeast Dallas. The fenced facility, which was fully leased at the time of sale, houses more than 200 truck/trailer parking spaces as well as a 12,950-square-foot building for repairs and maintenance. The seller and sales price were not disclosed.

April 7, 2023

Industrial Leasing Activity Texas

Ocean Edge Services Signs 19,755 SF Industrial Lease in Northwest Houston

by Taylor Williams April 7, 2023

HOUSTON — Ocean Edge Services, a provider of subsea hydraulic controls for the energy sector, has signed a 19,755-square-foot, full-building industrial lease in northwest Houston. According to LoopNet Inc., the single-tenant property at 8430 N. Sam Houston Parkway W was built in 2003. Travis Land of Partners Real Estate represented the undisclosed landlord in the lease negotiations. Will Austin of Bridge Commercial Real Estate represented the tenant.

April 7, 2023

Acquisitions Retail Texas

SHOP Cos. Arranges Sale of 10,763 SF Retail Strip Center in Kaufman, Texas

by Taylor Williams April 7, 2023

KAUFMAN, TEXAS — SHOP Cos. has arranged the sale of The Shops at Kings Fort, a 10,763-square-foot retail strip center located on the southeastern outskirts of Dallas in Kaufman. The center was built in 2022 and was fully leased at the time of sale to T-Mobile, Wing Stop, HTeaO and Integrity Urgent Care. Tim Axilrod and Tayler Rose of the SHOP Cos. represented the seller, a local developer, in the transaction. The buyer was a private 1031 exchange investor. Both parties were Texas-based entities that requested anonymity.

April 7, 2023

Development Office Texas

Entos Design Begins Renovation of 178,970 SF Office Building in Uptown Dallas

by Taylor Williams April 6, 2023

DALLAS — Dallas-based Entos Design has begun construction on a multimillion-dollar capital improvement program at Chateau Plaza, a 178,970-square-foot office building in Dallas’ Uptown neighborhood. Capital improvements will include upgrades to the lobby, tenant lounge, public corridors and boardroom, as well as the addition of a fitness center and outdoor patio. Chateau Plaza was originally built in 1985 and last renovated in 2011. A group of institutional investors advised by J.P. Morgan Global Alternatives owns the 18-story building and will rebrand it as 2515 McKinney. Stream Realty Partners manages the property and will market the newly renovated space for lease. Completion is slated for the fall.

April 6, 2023

Leasing Activity Office Texas

Expansive to Open 48,000 SF Coworking Office Space in Austin

by Taylor Williams April 6, 2023

AUSTIN, TEXAS — Expansive, a provider of flexible workspace solutions formerly known as Novel Coworking, will open a 48,000-square-foot space in Austin’s Highland neighborhood on Thursday, May 4. The space, which will be the company’s second in the state capital, will be located within a five-story building at 305 E. Huntland Drive and will offer private offices, training and meeting rooms and outdoor amenity areas. Users will also have access to an onsite biergarten and indoor/outdoor lounge areas at the building.

April 6, 2023

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