Texas

Gatehouse Capital to Develop 132-Room Hilton-Branded Hotel in Oklahoma City

by Taylor Williams February 16, 2023

OKLAHOMA CITY — Dallas-based Gatehouse Capital will develop a 132-room hotel with OAK, a 20-acre mixed-use project in Oklahoma City by Veritas Development. The property will be branded as the Lively Hotel, which is part of the Hilton family of brands. Amenities will include a pool, onsite restaurant, rooftop bar, fitness center, 2,600 square feet of meeting and event space and 13,500 square feet of retail space. Nelson Worldwide is the project architect, and Vincit Constructors is the general contractor. Valor Bank provided construction financing. Sitework is underway, and construction is expected to last about 24 months.

February 16, 2023

Leasing Activity Office Texas

Lucid Private Offices to Open 31,000 SF Flexible Space in Plano

by Taylor Williams February 16, 2023

PLANO, TEXAS — Lucid Private Offices, a provider of flexible workspace solutions formerly known as WorkSuites, will open a 31,000-square-foot space at International Tower in Plano. The company will occupy the fifth floor at the newly constructed office building. Trevor Franke and Gini Rounsaville of JLL represented the landlord, Billingsley Co., in the lease negotiations. John Pelletier and Austin Studebaker of Cresa represented Lucid Private Offices.

February 16, 2023

Healthcare Leasing Activity Texas

WellMed Medical Management Signs 11,599 SF Healthcare Lease in Garland, Texas

by Taylor Williams February 16, 2023

GARLAND, TEXAS — Primary and specialty care provider WellMed Medical Management has signed an 11,599-square-foot healthcare lease at Valoris Healthpark in Garland, a northeastern suburb of Dallas. The 73,000-square-foot facility was originally constructed in 2002, according to LoopNet Inc., and recently received $1.5 million in capital improvements. Austin Barrett of JLL represented the landlord, Prevarian Cos., in the lease negotiations. MedCore represented the tenant.

February 16, 2023

Development Industrial Texas

Stream Realty Partners Underway on 968,475 SF Industrial Project in Buda, Texas

by Taylor Williams February 15, 2023

BUDA, TEXAS — Stream Realty Partners is underway on construction of Buda Commerce Center, a 968,475-square-foot industrial project located on the southern outskirts of Austin. The development will consist of five buildings on a 70-acre site in Buda, with four structures having rear-load configurations and the fifth being a cross-dock facility. Buildings will feature 32- to 36-foot clear heights and dock-high loading doors. Construction began in the fourth quarter of 2022 and is slated for a late 2023 completion.

February 15, 2023

Acquisitions Industrial Self-Storage Texas

Strategic Development Group Sells 660-Unit Self-Storage Facility in Tulsa

by Taylor Williams February 15, 2023

TULSA, OKLA. — Arizona-based Strategic Development Group has sold Woodlands Self Storage, a 660-unit facility in Tulsa. Built on 2.3 acres in 2017, the property spans 75,300 net rentable square feet of climate-controlled space and was 80 percent occupied at the time of sale. Brett Hatcher of Marcus & Millichap represented the seller in the transaction. The name and representative of the buyer were not disclosed.

February 15, 2023

Acquisitions Industrial Texas

Westcore Acquires 242,320 SF Industrial Property in Denton, Texas

by Taylor Williams February 15, 2023

DENTON — San Diego-based investment firm Westcore has acquired Denton Point, a 242,320-square-foot industrial property in North Texas. Situated on 18.6 acres, the newly constructed buildings feature rear-load configurations, 32-foot clear heights, ESFR sprinkler systems, 86 trailer parking spaces and dock-high loading doors. At the time of sale, Denton Point was fully leased to DHL, Lowe’s Home Center and Muenster Milling. The seller was a joint venture between Boston-based TA Associates and Dallas-based Holt Lunsford. Jonathan Bryan, Randy Baird and Taylor Hare of CBRE brokered the deal.

February 15, 2023

Acquisitions Net Lease Retail Texas

Marcus & Millichap Arranges $5M Sale of Net-Leased Retail Property in San Antonio

by Taylor Williams February 15, 2023

SAN ANTONIO — Marcus & Millichap has arranged the $5 million sale of a 12,460-square-foot retail property in San Antonio that is net leased to Walgreens. Christopher Pappas and Michael Cardone of Marcus & Millichap represented the seller, an undisclosed partnership, in the transaction. The buyer was also not disclosed. Tim Speck of Marcus & Millichap assisted in closing the deal as the broker of record.

February 15, 2023

Leasing Activity Retail Texas

Home Depot Signs 35,840 SF Retail Lease Renewal in Arlington

by Taylor Williams February 15, 2023

ARLINGTON, TEXAS — The Home Depot (NYSE: HD) has signed a 35,840-square-foot retail lease renewal at Cooper Street Plaza in Arlington. Brent St. Amant of Hartman Income REIT represented the landlord, Houston-based Silver Star Properties REIT, in the lease negotiations. Home Depot was self-represented. Other tenants at the center include UPS, Mattress Firm, OfficeMax, Black Rifle Coffee Co. and State Farm Insurance.

February 15, 2023

Loans Multifamily Texas Top Stories

Dwight Capital Provides $155M Refinancing for Dallas-Area Multifamily Portfolio

by Taylor Williams February 15, 2023

IRVING AND GRAPEVINE, TEXAS — New York City-based Dwight Capital has provided three loans totaling $155 million for the refinancing of a portfolio of three multifamily properties totaling 1,081 units in the Dallas-Fort Worth (DFW) metroplex. The borrower was Texas-based Paramount Investment Corp. Resort at 925 Main totals 251 units and is located in Grapevine, which is situated on the periphery of Dallas-Fort Worth International Airport. The property comprises two three-story buildings and one four-story building on a five-acre site. Units come in one- and two-bedroom floor plans, and amenities include a pool, business center, clubhouse, fitness center, dog park and outdoor grilling and dining areas. The other two properties — Jefferson Ridge and Resort at Jefferson Park — total 830 units and are located in the central metroplex city of Irving. The sites of these communities, which are situated along either side of Thomas Jefferson Park, span a combined 34 acres. Both properties offer one- and two-bedroom units, as well as pools, clubhouses and fitness centers. Specific terms of the loans, which were originated through HUD’s 223(f) program, were not disclosed. Each of the properties is in the process of achieving National Green Building Standard (NGBS) certification status, which …

February 15, 2023

Development Industrial Texas

Freehill Development Underway on 176,546 SF Industrial Project in Metro Austin

by Taylor Williams February 14, 2023

GEORGETOWN, TEXAS — Freehill Development Co. is underway on construction of 1300 Westinghouse, a 176,546-square-foot industrial project that will be located in the northern Austin suburb of Georgetown. The development will consist of four buildings that will range in size from 18,675 to 54,457 square feet and will feature 18- to 28-foot clear heights and 290 car parking spaces. Studio8 Architects designed the project, and Owrey Construction is serving as the general contractor. Completion is slated for July.

February 14, 2023

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