SAN MARCOS, TEXAS — Dallas-based brokerage firm Vanguard Real Estate Advisors has arranged the sale of a multifamily development site in the Central Texas city of San Marcos. The site spans 22.8 acres at the southwest corner of Staples Road and Old Bastrop Highway. Jordan Cortez, Mason John and Haley Birmingham of Vanguard represented the buyer, South Carolina-based Woodfield Development, which plans to develop a 360-unit project at the site that will be known as Addie’s Point.
FORT WORTH, TEXAS — North Texas Amusement, a provider of coin-operated jukeboxes, has signed a 16,000-square-foot industrial lease renewal at Riverbend Business Park in Fort Worth. The 32-building, 1.4 million-square-foot development is located on the city’s northeast side. William Wilson and George Jennings of Holt Lunsford Commercial represented the landlord, Riverbend Properties, in the lease negotiations. The tenant was self-represented.
FORT WORTH, TEXAS — Tower Capital, an Arizona-based boutique advisory firm, has arranged $72.9 million in construction financing for Village at Golden Triangle, a 317-unit build-to-rent residential project in Fort Worth. The borrower and developer, Arizona-based Empire Group, acquired the 48-acre site in August 2022 with plans to develop 30 acres and sell the remaining 18, which are zoned for retail and office usage. Homes will come in one-, two- and three-bedroom formats and have private yards. Residents will have access to amenities such as a pool, outdoor grilling and dining areas, fitness center and a community clubhouse. Construction is set to begin by the end of the month. An expected completion date was not disclosed.
CARROLLTON, TEXAS — A partnership between Cleveland-based developer The NRP Group and H.I.G. Realty Partners has broken ground on Diamond Flats, a 331-unit apartment community in the northern Dallas metro of Carrollton. The site spans six acres, and the building will rise four stories. Diamond Flats will offer one-, two- and three-bedroom units with an average size of 950 square feet. Amenities will include a pool, fitness center, game room and outdoor courtyards. Santander Bank provided construction financing for the project, the first units of which are expected to be available for occupancy in 2025.
AUSTIN, TEXAS — Regions Bank has provided a $17.8 million construction loan for 71 Logistics Center, a 216,000-square-foot speculative industrial project that will be located near Austin-Bergstrom International Airport. The facility will sit on 45 acres and feature 142 parking spaces, 54 trailer parking spaces, an ESFR sprinkler system and 32-foot clear heights. Chris Drew of JLL arranged the debt on behalf of the borrower and developer, Atlanta-based MDH Partners. ARCO/Murray is the general contractor for the project, which is slated for an second-quarter 2024 completion. JLL is also the leasing agent.
CONROE, TEXAS — Hertha Metals, a provider of sustainable steelmaking solutions, has signed an 18,017-square-foot industrial lease at Northstar Industrial Park in Conroe, about 40 miles north of Houston. The 79-acre development currently houses five buildings and could ultimately feature up to 750,000 square feet of distribution and manufacturing space once the undeveloped 31.5 acres are built out. Drew Coupe and Dawson Smith of Avison Young represented the landlord, BAUER Group, in the lease negotiations. John Hornbuckle of Cypressbrook Co. represented the tenant.
HOUSTON — Locally based brokerage firm Oxford Partners has negotiated a 14,228-square-foot industrial lease renewal and expansion at 16802-16810 Barker Springs Road in West Houston. According to LoopNet Inc. the building was originally constructed in 1979 and totals 73,784 square feet. Ryley Caton of Oxford Partners represented the tenant, Groninger Cleaning Systems, in the lease negotiations. Carter Holmes of Cushman & Wakefield represented the landlord, an entity doing business as BPREP PARK 10 LLC.
LEWISVILLE, TEXAS — Bright Realty is nearing completion of Tapestry at The Realm, a 362-unit apartment community in the northern Dallas suburb of Lewisville. The property will be situated within the locally based developer’s 324-acre Realm at Castle Hills mixed-use development. Tapestry at The Realm will feature studio, one- and two-bedroom floor plans and amenities such as a fitness center, sauna, game lounge, business center and a conference room. B2 Architecture + Design designed the project, and Andres Construction is the general contractor. Preleasing is slated to begin in November. The first units are expected to be available for occupancy in December.
DALLAS — M Financial Group, an Oregon-based financial services firm, has signed a 52,000-square-foot office lease at The Quad, a 364,000-square-foot office and retail development in Uptown Dallas. Stream Realty Partners is developing The Quad and targeting a March 2024 completion. Ryan Evanich and Marissa Parkin of Stream Realty Partners represented ownership in the lease negotiations. Dean Collins, Mark Collins and Doug Deurwaarder of Cushman & Wakefield represented M Financial Group. Other office users that have committed to The Quad include Blackstone affiliate Revantage (32,000 square feet) and Chicago Title (20,000 square feet).
DALLAS — Lee & Associates has negotiated the sale of a 50,138-square-foot industrial building in northwest Dallas. According to LoopNet Inc., the building at 11126 Shady Trail was built on 2.8 acres in 1978 and features 12-foot clear heights. Stephen Williamson of Lee & Associates represented the buyer, Boston-based investment firm Longpoint Realty Partners, in the transaction. Vaquero Ventures Management sold the building for an undisclosed price.