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1115-Dragonfly-Ave.-Weslaco
DevelopmentIndustrialSelf-StorageTexas

Bakke, Batson-Cook Break Ground on 773-Unit Self-Storage Facility in Weslaco, Texas

by Taylor Williams

WESLACO, TEXAS — A partnership between San Antonio-based Bakke Development Corp. and Atlanta-based Batson-Cook Development Co. (BCDC) has broken ground on a 773-unit self-storage facility in the Rio Grande Valley city of Weslaco. The site at 1115 Dragonfly Ave. spans 2.6 acres, and the building will rise three stories and span 86,975 net rentable square feet. Project partners include Alamo Architects, civil engineer Halff, general contractor Independent Contractors and construction lender IBC Bank. Completion is slated for the first quarter of 2025. The project marks the sixth self-storage collaboration between the two firms.

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Sunridge-Industrial-Park-Wilmer
DevelopmentIndustrialTexas

Stonemont Financial Completes 565,259 SF Sunridge Industrial Park in Wilmer, Texas

by Taylor Williams

WILMER, TEXAS — Atlanta-based development and investment firm Stonemont Financial Group has completed Sunridge Industrial Park, a 565,259-square-foot development located in the southern Dallas suburb of Wilmer. The building features 40-foot clear heights, 128 dock doors, four drive-in ramps and parking for 135 trucks and 309 cars, with the capacity to add more parking if needed. LGE Design Build served as the project architect and general contractor. KBC Advisors is the leasing agent.

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Addison-Innovation-Center
IndustrialLoansTexas

JLL Arranges Construction Financing for Industrial Redevelopment Project in Addison, Texas

by Taylor Williams

ADDISON, TEXAS — JLL has arranged an undisclosed amount of construction financing for Addison Innovation Center, an industrial redevelopment project that will be located on north of downtown Dallas. The project will convert the 12.2-acre site of an existing office and call center complex into two warehouses totaling 242,062 square feet. The buildings, which will span 140,698 and 101,364 square feet, will be able to accommodate a single tenant or multiple users. First United Bank & Trust Co. provided the five-year, floating-rate loan to the borrower, a partnership between Houston-based Lovett Industrial and Dallas-based Rosewood Property Co. Jarrod McCabe led the transaction for JLL.

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IndustrialLeasing ActivityTexas

Zyka Foods Signs 15,885 SF Industrial Lease Renewal in Irving

by Taylor Williams

IRVING, TEXAS — Zyka Foods Southwest Inc., a wholesale provider of Indian cuisine, has signed a 15,885-square-foot industrial lease renewal in Irving. According to LoopNet Inc., the building at 2737 W. Airport Freeway was constructed in 1984 and features a clear height of 20 feet, one ramp, three dock-high doors and 1,257 square feet of office space. Canon Shoults and Maddy Canty of Holt Lunsford Commercial represented the owner, Sealy & Co., in the lease negotiations. David Easterling of CBRE represented the tenant.

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Leasing ActivityRestaurantRetailTexas

Spatch Kitchen & Cocktails to Open 7,500 SF Restaurant in Cedar Hill Texas

by Taylor Williams

CEDAR HILL, TEXAS — Spatch Kitchen & Cocktails, a contemporary American concept, will open a 7,500-square-foot restaurant in Cedar Hill, a southern suburb of Dallas. The space is located within Hillside Village, an open-air retail center that is also home to tenants such as Dick’s Sporting Goods, Barnes & Noble, Old Navy, H&M, F21 Red and Victoria’s Secret. Gretchen Miller, Emilie Paulson and Bryn Carden of Weitzman represented the landlord, PREP Property Group, in the lease negotiations. Morrow Hill represented the tenant, which plans to open this summer.

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1330-Sherwood-Forest-St.-Houston
AcquisitionsIndustrialTexas

Pagewood, CenterSquare Acquire 621,432 SF Industrial Portfolio in Northwest Houston

by Taylor Williams

HOUSTON — A partnership between locally based development and investment firm Pagewood and metro Philadelphia-based CenterSquare Investment Management has acquired a portfolio of nine industrial properties totaling 621,432 square feet in Houston. The portfolio comprises 46 shallow-bay buildings across 34 acres on the city’s northwest side. Stephen Ghedi and Jim Autenreith of locally based brokerage firm Moody Rambin represented the seller, HRES Group, in the transaction. Nick Spearman, Mat Volz and Paul Coonrod of Pagewood, in conjunction with Victoria Madrid and Burke Campbell of CenterSquare, represented the partnership. Warren Hitchcock and Blane Eikenhorst of Northmarq arranged acquisition financing for the deal. The new ownership plans to implement a capital improvement program across the portfolio and rebrand the properties as one development known as Gateway Industrial Commons. Partners Real Estate has been appointed as the leasing agent for the buildings.

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LoansMixed-UseTexas

EBSC Lending Provides $59M Construction Loan for Austin Mixed-Use Project

by Taylor Williams

AUSTIN, TEXAS — California-based EBSC Lending has provided a $59 million construction loan for a 201,821-square-foot mixed-use project in northwest Austin. The undisclosed project is located near Apple’s campus and will consist of three buildings that will house for-rent and for-sale residential units, as well as retail and restaurant space. Completion is slated for 2025. The undisclosed, locally based borrower will use the proceeds to retire existing debt and fund additional construction and lease-up costs. 

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AcquisitionsIndustrialLee & AssociatesTexas

Lee & Associates Negotiates Sale of 20-Acre Industrial Development Site in Valley View, Texas

by Taylor Williams

VALLEY VIEW, TEXAS — Lee & Associates has negotiated the sale of a 20-acre industrial development site in Valley View, about 50 miles north of Fort Worth. The site has frontage along I-35. Jarrett Huge and Alex Wilson of Lee & Associates represented the undisclosed seller in the transaction. The buyer, which also requested anonymity, plans to develop an RV parking facility at the site.

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AcquisitionsOfficeTexas

Colliers Brokers Sale of 89,820 SF Office Building in North Houston

by Taylor Williams

HOUSTON — Colliers has brokered the sale of Intercontinental Park III, an 89,820-square-foot office building in North Houston. The three-story building sits on 3.6 acres and was originally constructed in 1983, according to LoopNet Inc. David Carter of Colliers represented the seller, Greenspoint Property Management, in the transaction. Bill Ginder of Caldwell Cos. represented the buyer, an undisclosed private investor.

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AcquisitionsHealthcareRetailTexas

Marcus & Millichap Arranges Sale of 5,912 SF Medical, Retail Center in North Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale of a 5,912-square-foot medical and retail center in North Fort Worth. The building, which was constructed in 2022, is home to tenants such as Heyday Family Dental, Core Wellness Studio and Texas Family Vision Center. Gus Lagos and Alex Wolansky of Marcus & Millichap represented the seller in the transaction. Marty McAdams of McAdams & Associates represented the buyer.

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