DALLAS — Mexican investment firm Grupo Haddad has completed the $8 million renovation of a 110,000-square-foot office building located at 2501 Cedar Springs Road in Uptown Dallas. The seven-story building was originally constructed in 1982. The renovation delivered an upgraded lobby, ground-floor restaurant with patio seating, tenant conference center, upgraded parking garage and enhanced common areas and restrooms. Significant improvements were also made to the building’s systems and equipment. Grupo Haddad has tapped Newmark to lease the newly renovated space.
HOUSTON — UMOJA Supply Chain Solutions has signed a 176,152-square-foot industrial lease at Rankin 45 Distribution Center in North Houston. The cross-dock building features 32-foot clear heights, an ESFR sprinkler system, four drive-up ramps and parking for 259 cars and 23 trailers. Geoff Perrott and Jeff Venghaus of JLL, along with Matt Knafel with KWILL Advisors, represented UMOJA Supply Chain Solutions in the lease negotiations. Joseph Smith and Faron Wiley of CBRE represented the landlord, a joint venture between Trammell Crow Co. and Clarion Partners.
SAN ANTONIO — An undisclosed auto parts manufacturer has preleased a 150,512-square-foot industrial building on the south side of San Antonio. The tenant is leasing the entirety of Building 2 within Brooks Global Crossing, an industrial campus located within the 1,308-acre Brooks master-planned development. Carter Thurmond and Witt Westbrook of Transwestern represented the landlord, Cambridge Development, in the lease negotiations. Building 2 is under construction and expected to be complete by the second quarter of 2024.
CEDAR PARK, TEXAS — A joint venture between three Austin-based real estate firms — Cordova Real Estate Ventures, Riverside and Live Oak — has broken ground on Phase I of New Hope, a $250 million mixed-use project located in the Austin suburb of Cedar Park. The first two phases of the project are being developed across six parcels on New Hope Drive. Phase I will include three Class A industrial buildings totaling 271,689 square feet. The second phase of development will include an additional 213,700 square feet of industrial space. The project is also set to include a 32-acre development named The District at New Hope. This portion of the project is still in design, but could include a mix of retail, entertainment, restaurant, hospitality, office space, and research-and-development space. A timeline for the development was not announced. The project team for New Hope includes Zapalac/Reed Construction Co., McFarland Architecture and Malone Wheeler. Live Oak will market and lease the project’s industrial space, and Travis Robertson with JLL has been tapped to handle leasing of retail and restaurant space. A number of industrial developments are currently underway in suburban Austin, including 5900 Ben White, an industrial project also by Riverside …
AUSTIN, TEXAS — Texas-based private equity firm SPI Advisory has acquired Parkview Terraces, a 244-unit apartment community in South Austin. The property was originally developed in 2009 as Cortland Southpark Terraces and was recently renovated. According to Apartments.com, Parkview Terraces features one-, two- and three-bedroom units that range in size from 700 to 1,348 square feet and amenities such as two pools, a clubhouse, fitness center, business center, outdoor grilling and dining stations and a dog park. The seller and sales price were not disclosed. Fritz Waldvogel of Colliers Mortgage originated an undisclosed amount of Fannie Mae acquisition financing for the deal.
HOUSTON — Regional lender Amegy Bank has provided a $25 million construction loan for NHH Berry, a 180-unit affordable housing project that will be located in Houston’s Third Ward. The property will offer one-, two- and three-bedroom units that will be reserved for low- to moderate-income residents and amenities such as a community kitchen, lounge, library and meeting/social service offices. The building will also house a preschool that residents’ children can attend free of charge. The borrower is New Hope Housing. Construction is scheduled to begin in October and to be complete in summer 2025.
HOUSTON — Sungrow USA Corp., a division of Chinese solar technology company Sungrow, has signed a 179,534-square-foot industrial lease at Rankin 45 Distribution Center in North Houston. The cross-dock building features 32-foot clear heights, an ESFR sprinkler system, four drive-up ramps and parking for 259 cars and 23 trailers. Michael Foreman and Beau Kaleel of Cushman & Wakefield represented Sungrow USA in the lease negotiations. Joseph Smith and Faron Wiley of CBRE represented the landlord, a joint venture between Trammell Crow Co. and Clarion Partners.
ARLINGTON, TEXAS — Houston-based brokerage firm Finial Group has negotiated a 58,016-square-foot industrial lease renewal at 626 106th St. in Arlington. According to LoopNet Inc., the building was constructed on 2.4 acres in 1970 and features 19-foot clear heights. John Buckley, Jack Gaffney and Nicky Manasso of Finial Group represented the undisclosed landlord in the lease negotiations. John Brewer and Riley Maxwell of Transwestern represented the tenant, Iron Mountain Information Inc.
ROWLETT, TEXAS — JLL has arranged the sale of Lake Pointe Market, a 40,589-square-foot shopping center in Rowlett, a northeastern suburb of Dallas. The center was 97 percent leased at the time of sale to tenants such as PetCo, DCP Equity Partners, Burger Island, OneMain Financial, Bank of America, Verizon Wireless and SuperCuts. Adam Howells, Chris Gerard and Megan Babovec of JLL represented the seller, Main Street Investment Co., in the deal and procured Ohio-based retail REIT Phillips Edison & Co. as the buyer.
DENTON, TEXAS — Texas Woman’s University (TWU) will break ground on a $107 million health sciences center in Denton on Friday, Sept. 15. The 136,000-square-foot facility will serve students in the allied healthcare fields such as nursing, physical therapy and occupational therapy. TWU states the goal of the center is to graduate 30 percent more nursing and healthcare professionals, with a special emphasis on preparing students to serve in rural settings. The new health sciences center will be constructed on seven acres adjacent to Parliament Village, a TWU residential complex housing 872 students. Plans for the facility include laboratory space, classrooms, collaborative workspaces, outdoor clinic sites and a teaching kitchen, as well as community healthcare clinics and training areas for students. Alongside the groundbreaking, TWU will launch the public phase of the $125 million Dream Big Campaign. This is TWU’S first comprehensive fundraising campaign. The Dream Big Campaign is intended to commemorate university’s 125th anniversary in 2026. TWU is a public university that was established in 1901. The university’s main campus is in Denton, with additional health science centers in Dallas and Houston. While TWU admitted its first male students in 1972 and has been fully co-educational since 1992, the school is …