FORT WORTH, TEXAS — Streamline Packaging Solutions has signed a 92,098-square-foot industrial lease renewal at RiverPark Business Center in Fort Worth. The development consists of two buildings totaling 500,635 square feet on a 25-acre site, and Streamline Packaging has been a tenant since 2011, occupying space at the 355,238-square-foot Building B. Michael Spain of Bradford Commercial Real Estate Services represented the landlord, an entity doing business as SCG River Park Business Center LP, in the lease negotiations. Scott Miller of Bolanz & Miller Realtors Inc. represented the tenant.
HOUSTON —NewForm Real Estate has acquired a historic building located at 917 Franklin St. in downtown Houston that consists of roughly 35,000 square feet of office space and 5,000 square feet of retail space. The six-story building originally opened in 1904 as Commercial National Bank. NewForm is planning a complete overhaul of the building, including upgrades to the façade, lobby, windows, restrooms, utility systems and office suites. The locally based investment firm has hired CBRE to lease the office space and Transwestern to lease the retail space.
NORTH RICHLAND HILLS, TEXAS — Merlin Entertainments, an operator based in the United Kingdom, will open a theme park in North Richland Hills, a suburb of Fort Worth, that will be dedicated to children’s character Peppa Pig. The size of the park, which will feature multiple rides, interactive attractions, themed playscapes and shows, was not disclosed. The location, which is next to the NRH2O Family Water Park, formerly housed Mountasia Family Fun Center. The opening is slated for 2024. Merlin Entertainments, which operates facilities for concepts including Legoland and Sea Life Aquariums, has a licensing agreement with toymaker Hasbro, which owns the intellectual property rights to Peppa Pig and associated characters.
FORT WORTH, TEXAS — Locally based developer Palladium USA is underway on construction of Palladium Oak Grove, a 240-unit mixed-income residential project in Fort Worth. Residences will come in one, two- and three-bedroom formats, and amenities will include a pool, fitness center, conference center, dog park, computer lounge, kid’s playroom and a resident clubroom. Cross Architects is designing the project, and Treymore Construction is the general contractor. The Texas Department of Housing & Community Affairs issued $25.6 million in tax-exempt bonds that were purchased by Cedar Rapids Bank & Trust to fund the project. PNC Bank also provided over $23 million in equity. Palladium Oak Grove’s first units are expected to be complete in May 2024.
HOUSTON — The Detering Co., a family-owned supplier of building materials, has signed a 100,000-square-foot industrial lease at 1919 Collingsworth St., about three miles north of downtown Houston. According to LoopNet Inc., the property was built in 2001 and features 30- to 36-foot clear heights, 25 dock doors and additional acreage for trailer storage. John Milam of Fritsche Anderson Realty Partners represented the tenant, which plans to operate a lumber business at the property, in the lease negotiations. Chris Haro of Partners Real Estate represented the landlord, American Warehouses.
HOUSTON — Locally based brokerage firm NewQuest Properties has negotiated the sale of a 60,000-square-foot office building in Houston’s Greenspoint neighborhood. The six-story building at 11947 North Freeway was 29.5 percent leased at the time of sale. John Nguyen of NewQuest Properties represented the seller, an entity doing business as Contender Two LLC, in the transaction. Albi Neziri of Texas Advantage Realty represented the buyer, which plans to occupy the majority of the office space and offer the balance for multi-tenant use.
CORPUS CHRISTI, TEXAS — Locally based brokerage firm Cravey Real Estate Services has arranged the sale of a 34,165-square-foot industrial property in Corpus Christi. The property consists of four buildings on a 13.6-acre site that formerly housed the operations of Orion Drilling Co., the seller of the property that previously filed for bankruptcy. John Foret of Cravey Real Estate Services represented the buyer, CoFlow Compression LLC, in the transaction. George Clower of Clower Co. represented Orion Drilling.
FORNEY, TEXAS — Third-party logistics provider Hayes Co. has signed a 900,000-square-foot industrial lease at Forney Logistics Crossing, located on the eastern outskirts of Dallas. According to commercialcafé.com, the property was built on 42 acres in 2022. Greg Nelson of Paladin Partners represented Kansas-based Hayes Co. in the negotiations for the full-building lease. Nathan Lawrence and Krista Raymond at KBC Advisors represented the landlord, a partnership between Stillwater Capital and Grandview Partners.
DALLAS — Newmark has brokered the sale of Founders Square, a 274,010-square-foot office building located at 900 Jackson St. in downtown Dallas. The building was originally constructed in 1914 and most recently renovated in 2016, according to LoopNet Inc. Gary Carr, Chris Murphy, Robert Hill and Chase Tagen of Newmark represented the seller, Taiwanese investment firm Fidelity Commercial, in the transaction. The buyer was locally based investment firm Charter Holdings.
MESQUITE, TEXAS — Colliers Mortgage has provided a $9.9 million Fannie Mae acquisition loan for The Ventura Apartment Homes, a 111-unit multifamily complex located in the eastern Dallas suburb of Mesquite. Built in 2003, the garden-style property consists of 10 three-story buildings and offers amenities such as a pool, fitness center, clubhouse and onsite laundry facilities. Fritz Waldvogel of Colliers Mortgage originated the seven-year loan through a partnership with Old Capital Lending on behalf of the borrower, an entity doing business as LM-Ventura LLC.