DALLAS — Lee & Associates has brokered the sale of a 10-acre industrial development site comprising two parcels at 4225 and 4551 Cedardale Drive in South Dallas. Alex Wilson and Jarrett Huge of Lee & Associates represented the buyer, LDSR Real Property, which plans to construct an industrial service facility on the site. The name and representative of the seller were not disclosed.
SAN ANTONIO — Ervin Cable Construction has signed an 11,400-square-foot industrial lease in San Antonio. According to LoopNet Inc., the single-tenant property at 1026 Brussels St. was built in 2004 and includes 2,000 square feet of showroom space and 1,400 square feet of office space. Carlos Marquez and Brian Heines of Partners Real Estate represented the landlord in the lease negotiations. Kent Jones represented the tenant.
AUSTIN, TEXAS — Colliers Mortgage has provided a $49 million Fannie Mae loan for the refinancing of Ascent North, a 460-unit apartment community in North Austin. The newly renovated property offers one-, two- and three-bedroom units that are furnished with stainless steel appliances, individual washers and dryers and private balconies/patios. Amenities include two pools, a fitness center, business center, media lounge, outdoor grilling and dining stations, resident clubhouse and a dog park. Fritz Waldvogel of Colliers Mortgage originated the 60-month loan on behalf of the borrower, Dallas-based SPI Advisory.
SCHERTZ, TEXAS — Regional firm Titan Development has broken ground on Building 1 of Schertz35 Business Park, an industrial project that will add 196,519 square feet of space to the northeastern San Antonio suburb’s supply. The site spans 11 acres, and the building will feature 32-foot clear heights, two drive-in ramps, 43 docks, an ESFR sprinkler system and parking for 136 cars and 50 trailers. Construction is slated for a fourth-quarter completion.
BEDFORD, TEXAS — Marcus & Millichap has arranged the sale of a portfolio of two multifamily properties totaling 195 units in Bedford, located northeast of Fort Worth. Avanti on Central and Avanti on Pipeline total 137 units and 58 units, respectively, and offer one-, two- and three-bedroom floor plans. Al Silva and Ford Braly of Marcus & Millichap represented the seller, a local private investor, in the transaction and procured the buyer, a Dallas-based partnership. Both parties requested anonymity.
HOUSTON — Three new tenants have opened stores at Post Oak Plaza, a retail power center in Houston’s Uptown area. The 22,201-square-foot store of home furnishings retailer Arhaus is now open, as is the 9,597-square-foot store of Bassett Furniture and the 4,036-square-foot kitchen and bath showroom of Kohler. Locally based developer Levcor owns Post Oak Plaza, which recently underwent a capital improvement program and is now 98 percent leased.
LEWISVILLE, TEXAS — BT Dealz, which sells liquidated consumer products directly to customers, has signed a 15,477-square-foot retail lease for its first brick-and-mortar store in the northern Dallas suburb of Lewisville. David Zoller of Weitzman represented the undisclosed landlord in the lease negotiations. Al Paniagua of Swearingen Realty Group represented BT Dealz, which is taking a junior anchor endcap space at a center that is also home to Marshalls, Old Navy, Five Below and PetSmart.
HOUSTON — Howard Hughes Holdings (NYSE: HHH) is underway on construction of Village Green at Bridgeland Central, a 70-acre retail development in northwest Houston. Located within the 925-acre Bridgeland master-planned community, Village Green will comprise a 100,000-square-foot H-E-B grocery store and 28,000 square feet of inline retail and restaurant space. The development will also feature multiple outdoor dining spaces and connectivity to Bridgeland’s network of walking trails. H-E-B is scheduled to open by the end of the year, and the inline space is slated for a spring 2025 delivery. Tal McIver of McIver Properties represented H-E-B in the lease negotiations, and Eric Walker of Capital Retail Properties represented Howard Hughes.
LAVON, TEXAS — ONM Living will develop The Cottages at Lavon Lake, a 268-unit build-to-rent residential project in Lavon, located northeast of Dallas in Collin County. The development will feature cottage-style homes in one-, two- and three-bedroom formats that will range in size from 340 to 1,230 square feet. Residents will have fenced backyards, detached garages and open surface spaces. Communal amenities will include a pool, fitness center, dog park and pickleball courts. Vertical construction is scheduled to begin in May 2025, and full completion is slated for early 2027.
AUSTIN, TEXAS — Houston-based developer Alliance Industrial has broken ground on Connor Lane Business Park, a 170,959-square-foot industrial project in northeast Austin. The development will consist of two buildings totaling 87,467 and 83,492 square feet, with depths of 120 feet and 175 feet, respectively. Both buildings will feature 32-foot clear heights and 130-foot truck court depths, and the complex will offer a total of 70 dock doors. Construction is slated for a fourth-quarter delivery. Alliance Industrial has tapped Colliers as the leasing agent.