Texas

Stonelake Capital to Develop 180,000 SF Office Building in Uptown Dallas

by Taylor Williams February 8, 2023

DALLAS — Stonelake Capital Partners, a private equity firm with offices in Texas and Atlanta, will develop 2626 McKinney, a 180,000-square-foot office building in Uptown Dallas. The site is adjacent to a Whole Foods Market. The building will rise 17 stories and will offer amenities such as a lounge with a coffee and cocktail bar, communal kitchen, conference center, fitness center and a landscaped terrace. Cushman & Wakefield is marketing the development for lease. Completion is slated for summer 2025.

February 8, 2023

Civic Development Texas

Manor ISD Underway on 116,000 SF Elementary, Middle School Campus in Metro Austin

by Taylor Williams February 8, 2023

MANOR, TEXAS — The Manor Independent School District is underway on construction of a 116,000-square-foot elementary and middle school campus in the state capital’s northwestern suburb. The project is part of larger $174 million academic development initiative that also includes an 85,000-square-foot high school building. The campus, which will be able to support about 800 students in grades K through 8, will feature a media center, two art rooms, three maker spaces, performing arts classrooms and competition-level athletic fields. Birmingham-based HPM is providing project management, quality control and preconstruction services for the project.

February 8, 2023

Acquisitions Multifamily Texas

SPI Advisory Sells 111-Unit Ventura Apartments in Metro Dallas

by Taylor Williams February 8, 2023

MESQUITE, TEXAS — Locally based investment firm SPI Advisory has sold The Ventura Apartments, a 111-unit multifamily property located in the eastern Dallas suburb of Mesquite. Built in 2003, the property features one-, two- and three-bedroom floor plans and amenities such as a pool, fitness center, clubhouse and onsite laundry facilities. SPI Advisory acquired the asset in March 2021 and implemented a value-add program that upgraded the unit interiors, common areas and building exteriors. The buyer was not disclosed.

February 8, 2023

Acquisitions Industrial Lee & Associates Texas

Lee & Associates Negotiates Sale of 100,800 SF Industrial Facility in Carrollton, Texas

by Taylor Williams February 8, 2023

CARROLLTON, TEXAS — Lee & Associates has negotiated the sale of a 100,800-square-foot industrial facility that sits on a four-acre lot at 1401 Dunn Drive in the northern Dallas suburb of Carrollton. Stephen Williamson of Lee & Associates represented the buyer, metro Boston-based investment firm High Street Logistics Properties, in the transaction. Keenan Cook of Mercer Co. represented the seller, Charity Supply. The sales price was not disclosed.

February 8, 2023

Industrial Leasing Activity Texas

VeriTrust Corp. Signs 41,937 SF Industrial Lease in Northwest Houston

by Taylor Williams February 8, 2023

HOUSTON — VeriTrust Corp., a provider of document shredding and other information management services, has signed a 41,937-square-foot industrial lease at 2155 Silber Road in northwest Houston. According to LoopNet Inc., the property was built in 1979 and totals 95,600 square feet. Chris Kugle of Partners represented the tenant in the lease negotiations. Carter Holmes and Matt Dewhirst of Holt Lunsford Commercial represented the undisclosed landlord.

February 8, 2023

Market Reports Texas Texas Market Reports

Everything’s Bigger in Texas: An Exploration of the State’s Construction Growth into 2023

by Taylor Williams February 8, 2023

By Eric Barnes, director of business development at SiteAware Texas has been one of the most attractive states for corporate relocations and sustained construction growth, spurred on by attractive tax benefits, a low cost of living and business-friendly policies. As such, Texas remains well-positioned for a robust and profitable construction economy heading into 2023. According to The Wall Street Journal, Texas cities rank among the fastest-growing in the country in terms of population. This strong population growth, coupled with a robust job market and strategic location, continues to attract employers. In 2021, the state saw a record number of headquarters relocations. Though that figure dipped in 2022 due to the conclusion of state-sponsored tax breaks, the local market remains healthy and attractive to developers and investors. In addition, the slowing down of relocations isn’t necessarily bad because it allows the state to ensure the success of companies already operating in Texas. Regardless of this dip in activity, the heightened need for more multifamily and commercial development continues and has translated to an influx of construction projects within the state. Challenges, Opportunities Texas contractors and developers are looking for better ways to manage construction sites and take on more projects to …

February 8, 2023

Development Industrial Texas

Constellation Real Estate, Cadre to Develop 192,306 SF Spec Industrial Project in Houston

by Taylor Williams February 7, 2023

HOUSTON — A partnership between Texas-based developer Constellation Real Estate Partners and investment management firm Cadre will develop a 192,306-square-foot speculative industrial project in Houston. The site spans 20.8 acres at the northeast corner of Beltway 8 and Telephone Road, and the development will be known as Constellation Telephone. The development team, which includes Seeberger Architecture, plans to construct two buildings with 28-foot clear heights. Construction is scheduled to begin in the second quarter and to wrap up in the first quarter of 2024. Colliers advised Constellation on the land deal and has been retained as the leasing agent.

February 7, 2023

Industrial Leasing Activity Texas

Rigmore Signs 102,152 SF Industrial Lease in East Houston

by Taylor Williams February 7, 2023

HOUSTON — Logistics and warehousing services provider RigMore has signed a 102,152-square-foot industrial lease in East Houston. According to LoopNet Inc., the building at 2425 Broad St. was built in 1957 and totals 166,440 square feet. Michael Keegan and Andrew Laycock of Partners represented the landlord, an entity doing business as SL5 Urban Industrial GP LLC, in the lease negotiations. The representative of the tenant was not disclosed.

February 7, 2023

Civic Development Texas

Manor ISD Underway on 85,000 SF High School Campus in Metro Austin

by Taylor Williams February 7, 2023

MANOR, TEXAS — The Manor Independent School District is underway on construction of an 85,000-square-foot high school campus in the state capital’s northwestern suburb. The campus will feature a commons area, coffee shop and a buffet-style café and will be able to support about 800 students. Construction of the project, which is part of larger $174 million academic development initiative, is expected to be complete in time for the 2023-2024 school year. Birmingham-based HPM is providing project management, quality control and preconstruction services for the project.

February 7, 2023

Acquisitions Multifamily Seniors Housing Texas

Blueprint Brokers Sale of 54-Unit Memory Care Portfolio in Oklahoma

by Taylor Williams February 7, 2023

TULSA AND OKLAHOMA CITY, OKLA. — Blueprint Healthcare Real Estate Advisors has brokered the sale of a portfolio of two memory care communities totaling 54 units in Tulsa and Oklahoma City. The properties were built in 2015 and 2016. The buyer was a Texas-based owner-operator focused on standalone memory care facilities in the region. Blueprint also assisted the buyer with debt placement through an existing bank relationship. The seller was not disclosed.

February 7, 2023

Newer Posts

Older Posts