Texas

PLANO, TEXAS — Triten Real Estate Partners has completed the office and retail portions of Assembly Park, the redevelopment of Market Square Mall in Plano. Located along Central Expressway and Spring Creek Parkway, the project features 180,000 square feet of creative office space, 17,000 square feet of walkable retail and dining space, a park and hiking and biking trails. Additionally, Triten is set to complete The Annabel, Assembly Park’s multifamily development, in December. The Class A apartment community features one, two- and three-bedroom units with rentable garages and storage units. Amenities include a fitness center, dog grooming room, dog park, outdoor gaming areas, coworking spaces and secure bike storage. Triten purchased the 300,000-square-foot mall in 2021 with the goal of transforming the underutilized center into a mixed-use development. The mall was built in 1983 and originally named the Outlet Mall of Americas. “Assembly Park is a true work, live, play destination, positioned to appeal to a diverse range of community members,” says Scott Arnoldy, founder of Triten. Triten enlisted Michael Hsu Office of Architecture to design the office and retail portions of Assembly Park. The interior design of the creative office space pays homage to the existing structure’s history by …

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Eran Dor Pavlov Media Future Multifamily Tech

Internet connectivity is the digital equivalent of a foundation for any multifamily property. Residents want access for communications, entertainment, business and personal needs. Property operators need connections for management and reporting software resources. Good and reliable connections to the Internet, and a dependable Wi-Fi network as a way of distributing that access, are essential. Looking three to five years into the future, these connectivity needs become even more demanding and complex. The Internet of Things (IoT) creates a layer of interesting application and use cases for property owners. IoT defines the collective network of connected technology that enables communication between devices (“things”) and the cloud and/or among the devices themselves. IoT devices are the technology that creates smart home and buildings. IoT devices also support and simplify functions such as rental property management, energy usage reduction, maintenance cost reduction and more. “Looking into the future, IoT applications can make the property more efficient in surprising ways,” says Eran Dor, vice president of technology products at Pavlov Media. Leak detectors can provide early warning of flooding and appropriately shut off water before any significant damage occurs. Trash cans can be equipped with sensors that indicate when to collect, rather than requiring …

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Post-Oak-Central-Houston

HOUSTON — Parkway, which is a partnership between Orlando-based Parkway Property Investments and Houston-based Midway, has acquired Post Oak Central, a 1.2 million-square-foot office campus in Uptown Houston. Designed by Philip Johnson and constructed between 1975 and 1981, the campus consists of three buildings on a 17-acre site. Post Oak Central also features 90,000 square feet of retail and restaurant space, including both fine dining and fast-casual concepts, as well as onsite medical and banking services. Eastdil Secured represented the undisclosed seller, which previously owned an interest in the property, in the transaction. Parkway will continue to operate Post Oak Central, and Parkway’s development partner, Midway, will oversee the redevelopment of the property.

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Granite-Park-Six-Plano

PLANO, TEXAS — Granite Properties, in partnership with publicly traded REIT Highwoods Properties (NYSE: HIW), has completed a 422,109-square-foot office building located within the 90-acre Granite Park development in Plano. Designed by BOKA Powell with interiors by HKS Architects, Granite Park Six rises 19 stories and offers amenities such as a fitness center, tenant lounge, golf simulator, café and a lecture hall. The building also houses an array of health and wellness features such as dispatch elevators, touchless entry points and restroom fixtures and advanced HVAC systems that promote clean air technology. Austin Commercial served as the general contractor for the project, construction of which began in December 2021 and topped out last fall.

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OKLAHOMA CITY — RRA Capital, a commercial bridge lender with offices in Phoenix and New York City, has provided a $20.6 million acquisition loan for a 252-unit apartment community in Oklahoma City. The property at 11239 Pennsylvania Ave. was built in the 1970s and offers one- and two-bedroom units. The borrower, GreenLite Holdings, plans to implement a value-add program that will upgrade the pool and clubhouse and install new appliances, flooring, lighting, plumbing and windows in the unit interiors. Bryan Liu and Bryan Mummaw of Northmarq arranged the debt.

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BROKEN ARROW, OKLA. — Dallas-based developer Berkshire Lane Development Partners (BLDP) will build a 182-unit garden-style multifamily project in Broken Arrow, a southeastern suburb of Tulsa. Berkshire @1Eleven will offer one- and two-bedroom units with stainless steel appliances, quartz countertops, tile backsplashes and individual washers and dryers. Amenities will include a pool, fitness center, and open green space. The first units are expected to be available for occupancy in summer 2025.

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IRVING, TEXAS — Partners Real Estate has arranged the sale of a 13,530-square-foot industrial property in Houston. According to LoopNet Inc., the facility at 2300 Penn St. was built in 1984 and features 14-foot clear heights and six grade-level doors. Hanes Chatham Jr. and Graham Dressel of Partners represented the seller in the transaction. Rad Realty Group LLC represented the buyer, Garcia Laser Screeding. Quinn Conway of Partners arranged acquisition financing for the deal.

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Bridge-Labs-at-Pegasus-Park-Dallas

DALLAS — General contractor and construction management firm Swinerton has topped out Bridge Labs at Pegasus Park, a 135,000-square-foot life sciences project in northwest Dallas. The project represents the latest phase of the 23-acre Pegasus Park development. A partnership between Montgomery Street Partners, J. Small Investments and Lyda Hill Philanthropies owns Pegasus Park, the master plan of which also includes an 18-story tower with 538,000 square feet of office space and a brewery/restaurant. Full delivery is slated for the second quarter of 2024. Jim Curtin and Andrew Gray of JLL, along with Jason Piering of Hamilton Realty Finance, arranged financing for the redevelopment that included a five-year construction loan from Interbank and C-Pace financing through Nuveen Green Capital.

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Icon-at-Yorktown-Houston

HOUSTON — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Icon at Yorktown, a 115-unit apartment complex in northwest Houston. Built on three acres in 2021, Icon at Yorktown offers one-, two- and three-bedroom units and amenities such as a pool, fitness center, outdoor grilling stations, package lockers, resident lounge and a coffee bar. Travis Austin, Greg Austin, Jackson Hart, Drew Kile and Will Balthrope of IPA represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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PLAINVIEW, TEXAS — MYCON General Contractors has begun construction on a 21,910-square-foot industrial project in Plainview, located roughly midway between Lubbock and Amarillo in West Texas. The facility will consist of five pre-engineered metal buildings and a prefabricated guard shack on a 4.5-acre site and will be used to manufacture electronic-grade sulfuric acid for the cleaning and etching of computer chips. Delivery is slated for next May. The developer is a joint venture that includes Samsung.

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