Texas

Dayton Street Partners Buys 65-Acre Industrial Campus in Metro Dallas, Plans Expansion

by Taylor Williams January 12, 2023

RICHARDSON, TEXAS — Chicago-based developer Dayton Street Partners has acquired a 65-acre manufacturing and distribution campus in the northeastern Dallas suburb of Richardson with plans to expand the site. The undisclosed seller has agreed to lease back 10 percent of the space at the 845,000-square-foot campus, and electronics manufacturer Celestica has leased 672,588 square feet. The seller also vacated the remaining 90,000-square-foot building, at which Dayton Street has launched a capital improvement program. The expansion will feature a 240,000-square-foot facility on a nine-acre parcel that is expected to be complete in early 2024. Larry Serota, Mike Hardage and Nora Hogan of Transwestern represented the seller in the transaction.

January 12, 2023

Acquisitions Office Texas

Hall Capital, Pillar Commercial Acquire 190,745 SF Office Building in Allen, Texas

by Taylor Williams January 12, 2023

ALLEN, TEXAS — A joint venture between two investment firms, Oklahoma-based Hall Capital and Dallas-based Pillar Commercial, has acquired One Bethany West, a 190,745-square-foot office building located in the northeastern Dallas suburb of Allen. The building is located within the Watters Creek mixed-use development and is home to tenants such as MD7, Micron Technologies and Highland Residential. The seller was Kaizen Development Partners. JLL arranged acquisition financing through BancFirst on behalf of the new ownership.

January 12, 2023

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Arranges Sale of 197-Unit Self-Storage Facility in Amarillo

by Taylor Williams January 12, 2023

AMARILLO, TEXAS — Marcus & Millichap has arranged the sale of Camp Lane Storage, a 197-unit facility located in the northwest Texas city of Amarillo. The property 24,440 spans square feet of net rentable, non-climate-controlled space and also includes 20 outdoor parking spaces. Arol Horkavy and Jon Danklefs of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were limited liability companies that requested anonymity.

January 12, 2023

Leasing Activity Restaurant Retail Texas

Radom Capital Welcomes Six New Tenants to Office, Retail Development in Houston

by Taylor Williams January 12, 2023

HOUSTON — Locally based developer Radom Capital has welcomed six new tenants to Montrose Collective, an office and retail development in Houston. Concepts coming to the property include restaurants Graffiti Raw and Picnik — opening this month and in the spring, respectively — as well as four fitness and beauty concepts. SISU, a med spa, will debut in February, while Studio BE, Glosslab and Skin Laundry will open later this year. Montrose Collective, which currently features 15 retailers and five restaurants, is now 97 percent leased.

January 12, 2023

Jeff Rinkov Brokerage Expansion Lee & Associates

Company News Content Partner Features Lee & Associates Midwest Northeast Southeast Texas Western

Lee & Associates Maintains Expansion Strategy Despite Choppy Economic Waters

by Sarah Daniels January 12, 2023

Against the backdrop of higher interest rates and the collapse of commercial real estate investment transactions, large brokerages have begun to reduce staff and other expenses to weather growing uncertainty over property values. But executives at Lee & Associates Commercial Real Estate Services consider it an ideal environment to continue an expansion that has added more than ten new locations over the last few years. Earlier this month, Lee & Associates announced the opening of an office in Baton Rouge, La. In November, they opened an office in Calgary, Alberta. In the same month, a satellite office in Nashville, Tenn. transitioned to a freestanding office, a designation that provides brokers in the office with the opportunity to fully benefit from the Lee & Associates capital structure — namely, to participate in funding the brokerage’s future growth and reaping the potential rewards. Those additions followed new office expansions in downtown Los Angeles, San Francisco and Omaha, Neb., earlier in the year. The Southern California-based brokerage anticipates announcing two more openings in early 2023, eventually increasing its footprint to around 90 locations from more than 70 today, says Jeffrey Rinkov, CEO of Lee & Associates. “We see some of our competitors cutting …

January 12, 2023

Development Hospitality Texas

LNR Partners Completes Renovation of 284-Room Hilton-Branded Hotel in Houston

by Taylor Williams January 11, 2023

HOUSTON — Florida-based investment firm LNR Partners has completed the renovation of The Chifley, a 284-room hotel in Uptown Houston that is part of the Tapestry Collection by Hilton family of brands. In addition to upgraded guestrooms, common areas and amenity spaces, the hotel now houses a new food-and-beverage concept called Rouse. Additional amenities include a 24-hour fitness center, outdoor pool and 8,000 square feet of meeting and event space. LNR Partners purchased the hotel in 2021, at which time it was operating under the Sheraton flag. Florida-based Driftwood Hospitality Management now oversees the hotel’s day-to-day operations.

January 11, 2023

Acquisitions Multifamily Texas

ESI Arranges $25M Sale of Seniors Housing Community in Grapevine, Texas

by Taylor Williams January 11, 2023

GRAPEVINE, TEXAS — Evans Senior Investments (ESI) has arranged the $25 million sale of Dancing River, an 84-unit seniors housing community in Grapevine, located in the central part of the Dallas-Fort Worth metroplex. The property was built in 2010 and was roughly 93 percent occupied at the time of sale. ESI represented the seller, an undisclosed institutional investment firm, in the transaction. The buyer was Inspired Healthcare Capital.

January 11, 2023

Acquisitions Retail Texas

Palomar Group Negotiates $15.4M Sale of Parkdale Commons Shopping Center in Waco

by Taylor Williams January 11, 2023

WACO, TEXAS — Georgia-based brokerage firm Palomar Group has negotiated the $15.4 million sale of Parkdale Commons, a 191,559-square-foot retail center in Waco. Hobby Lobby anchors the center, which was originally built in 1973. Other tenants include True Value, dd’s Discounts and Drug Emporium. All of those retailers have leases that run through at least 2026. An investment firm based in the Southeast sold the property to a West Coast-based buyer, with both parties requesting anonymity.

January 11, 2023

Acquisitions Multifamily Texas

RockFarmer, Old Three Hundred Buy 104-Unit Multifamily Property in San Antonio

by Taylor Williams January 11, 2023

SAN ANTONIO — A partnership between New York-based RockFarmer Properties and Austin-based Old Three Hundred Capital has purchased Estates at San Antonio, a 104-unit multifamily property located on the city’s northwest side. Built in 2010, the property offers two-, three-and four-bedroom units and amenities such as a pool, fitness center, volleyball court and outdoor grilling and dining areas. Casey Schaefer and Michael Wardlaw of CBRE represented the partnership and the undisclosed seller in this transaction. The new ownership plans to implement a value-add program.

January 11, 2023

Industrial Leasing Activity Texas

Neveon USA Signs 50,000 SF Industrial Lease in Fort Worth

by Taylor Williams January 11, 2023

FORT WORTH, TEXAS — Neveon USA, a provider of upholstery, foam and insulation products, has signed a 50,000-square-foot industrial lease at Riverbend Business Park in Fort Worth. The development is located on the city’s northeast side and consists of 32 buildings totaling roughly 1.4 million square feet. William Wilson and George Jennings of Holt Lunsford Commercial represented the landlord, Riverbend Properties, in the lease negotiations. Louis Pascuzzi of Newmark represented the tenant.

January 11, 2023

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