Texas

Northmarq Provides Agency Financing for 506-Unit Oasis Apartments in North Dallas

by Taylor Williams April 10, 2023

DALLAS — Northmarq has provided an undisclosed amount of Fannie Mae financing for Oasis Apartments, a 506-unit multifamily community in North Dallas. The seven-year, fixed-rate bridge loan carries a 35-year amortization schedule and takes out existing debt. Oasis Apartments features one-, two- and three-bedroom units, with private balconies/patios available in select residences. Amenities include a pool, fitness center, clubhouse, picnic areas and a playground. James Currell and Kyle Summerford of Northmarq originated the financing on behalf of the borrower, locally based investment firm Willowood Group.

April 10, 2023

Industrial Leasing Activity Texas

Colliers Negotiates 393,625 SF Industrial Lease in West Dallas

by Taylor Williams April 10, 2023

DALLAS — Colliers has negotiated a 393,625-square-foot industrial lease in West Dallas. According to LoopNet Inc., the property at 3700 Pinnacle Point Drive was built in 2001 and spans roughly 1 million square feet. James Min, Brad Balke, Chris Teesdale and Tom Pearson of Colliers represented the tenant, Kumho Tire, in the lease negotiations. Southern California-based investment firm Cohen Asset Management owns the property in partnership with Dallas-based Lincoln Property Co. The deal brings the building to full occupancy.

April 10, 2023

Development Industrial Texas

Lovett Industrial, Cresset Partners Break Ground on 274,416 SF Project in Wylie, Texas

by Taylor Williams April 10, 2023

WYLIE, TEXAS — A partnership between Houston-based developer Lovett Industrial and Chicago-based investment firm Cresset Partners has broken ground on Wylie Business Center, a 274,416-square-foot project that will be located on the southern outskirts of Dallas. Building features will include a rear-load configuration, 36-foot clear heights, 55 dock-high doors, 185-foot truck court depths, 77 trailer parking stalls and 154 car parking spaces. Ware Malcolmb is the project architect, and Conlan Co. is the general contractor. JLL will market the property for lease. Completion is slated for December.

April 10, 2023

Acquisitions Multifamily Texas

Brixton Capital Acquires 144-Unit Atlee Apartments in San Antonio

by Taylor Williams April 10, 2023

SAN ANTONIO — California-based investment firm Brixton Capital has acquired The Atlee, a 144-unit apartment complex in San Antonio’s Olmos Park neighborhood. The property features one-, two- and three-bedroom units and amenities such as a pool, courtyard, dog park and a clubhouse. Michael Wardlaw and Colin Cannata of CBRE represented the undisclosed seller in the transaction. Brixton Capital, which will implement a value-add program, was self-represented. The Atlee was 97 percent occupied at the time of sale.

April 10, 2023

Leasing Activity Office Texas

Goree Architects Signs 21,392 SF Office Lease Expansion at Sage Plaza in Houston

by Taylor Williams April 10, 2023

HOUSTON — Goree Architects has signed a 21,392-square-foot office lease expansion at Sage Plaza, a 25-story building in Houston’s Galleria district. Sage Plaza spans 530,977 square feet and offers a fitness center, auditorium, coffee bar and an outdoor lounge area. Jessica Ochoa of CBRE represented the landlord, institutional investment firm BlackRock, in the lease negotiations. Anthony Squillante and Collin Roach of Avison Young represented the tenant, which is doubling its space and will now occupy the entire 16th and 17th floors.

April 10, 2023

Development Multifamily Texas

Legacy Partners, Resmark Break Ground on 336-Unit Multifamily Project in Metro Dallas

by Taylor Williams April 7, 2023

FORNEY, TEXAS — A partnership between two California-based firms, developer Legacy Partners and investment manager Resmark Cos., has broken ground on Legacy Gateway, a 336-unit multifamily project in the eastern Dallas suburb of Forney. The community will consist of five three-story buildings on a 14-acre site. Units will come in studio, one- and two-bedroom formats and will range in size from 540 to 1,360 square feet. Amenities will include a pool, outdoor kitchen and gaming courtyard, fitness center, coworking lounge, coffee bar and two dog parks. JHP Architecture is designing the project, and BBL Building Co. is serving as the general contractor. Full completion is slated for spring 2025.

April 7, 2023

Acquisitions Industrial Texas

MDH Partners Acquires Fort Worth Industrial Building Leased to Samsung for $67.5M

by Taylor Williams April 7, 2023

FORT WORTH, TEXAS — Atlanta-based investment firm MDH Partners has acquired Fort Worth Logistics Hub Building 1, a 670,914-square-foot industrial property, for $67.5 million. Built on 39 acres in 2022, the building was fully leased to Samsung SDS America at the time of sale and features 36-foot clear heights and 245 parking spaces. Eastdil Secured represented the undisclosed seller in the transaction. Joe DeHaven negotiated the deal for MDH Partners on an internal basis.

April 7, 2023

Acquisitions Industrial Self-Storage Texas

Apricus Realty Capital Buys Nine-Acre Industrial Outdoor Storage Facility in Dallas

by Taylor Williams April 7, 2023

DALLAS — Locally based investment firm Apricus Realty Capital has acquired a nine-acre industrial outdoor storage facility located at 11801 C.F. Hawn Freeway in southeast Dallas. The fenced facility, which was fully leased at the time of sale, houses more than 200 truck/trailer parking spaces as well as a 12,950-square-foot building for repairs and maintenance. The seller and sales price were not disclosed.

April 7, 2023

Industrial Leasing Activity Texas

Ocean Edge Services Signs 19,755 SF Industrial Lease in Northwest Houston

by Taylor Williams April 7, 2023

HOUSTON — Ocean Edge Services, a provider of subsea hydraulic controls for the energy sector, has signed a 19,755-square-foot, full-building industrial lease in northwest Houston. According to LoopNet Inc., the single-tenant property at 8430 N. Sam Houston Parkway W was built in 2003. Travis Land of Partners Real Estate represented the undisclosed landlord in the lease negotiations. Will Austin of Bridge Commercial Real Estate represented the tenant.

April 7, 2023

Acquisitions Retail Texas

SHOP Cos. Arranges Sale of 10,763 SF Retail Strip Center in Kaufman, Texas

by Taylor Williams April 7, 2023

KAUFMAN, TEXAS — SHOP Cos. has arranged the sale of The Shops at Kings Fort, a 10,763-square-foot retail strip center located on the southeastern outskirts of Dallas in Kaufman. The center was built in 2022 and was fully leased at the time of sale to T-Mobile, Wing Stop, HTeaO and Integrity Urgent Care. Tim Axilrod and Tayler Rose of the SHOP Cos. represented the seller, a local developer, in the transaction. The buyer was a private 1031 exchange investor. Both parties were Texas-based entities that requested anonymity.

April 7, 2023

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