FORT WORTH, TEXAS — Swiss chocolate maker Läderach has signed a 42,282-square-foot industrial lease at AllianceTexas, Hillwood’s 27,000-acre master-planned development in North Fort Worth. Jeff Feste, Fred Ragsdale, Blake Rogers and J.M. Priddy of JLL represented Läderach in the lease negotiations. Reid Goetz and Samuel Rhea represented Hillwood on an internal basis.
COLLEYVILLE, TEXAS — Colliers has brokered the sale of Colleyville Square Business Park, a 23,980-square-foot office complex located on the northeastern outskirts of Fort Worth. The property comprises four buildings at 6211 Colleyville Blvd. Cody Payne of Colliers represented the seller, a private investor, in the off-market transaction. The buyer was also a private investor who requested anonymity.
AUSTIN, TEXAS — Locally based investment firm Door Capital Partners has acquired a 6,991-square-foot retail strip center located at 3701 Guadalupe St. near the University of Texas at Austin. Built in 1976, the property was fully leased at the time of sale to Domino’s, Walgreens, Smile Haus, Body Brite and Evo Performance. C.W. Sheehan, Kaitlin Kane and Hunt Wood of JLL arranged acquisition financing on behalf of Door Capital Partners. Chris Gerard and Jack Copher, also with JLL, represented the undisclosed seller in the disposition.
AUSTIN, TEXAS — Austin-based Inspire Development has begun construction of Pearson Ranch, a $2 billion, 156-acre mixed use project located just off State Highway 45 in northwest Austin. The master plan for the project includes 48 acres of land for a corporate campus, including 2.6 million square feet of office space. Upon completion, the mixed-use property will also include approximately 200,000 square feet of retail, restaurant and community/cultural spaces; two hotels; thousands of residential units; and 30 acres of parks and green space. Phase I of Pearson Ranch will center on The Eden, an apartment community that will feature 306 one-, two- and three-bedroom units that will range in size from 672 to 1,511 square feet. Residences will be furnished with technology such as smart locks and thermostats, gas appliances, built-in kitchen islands with quartz countertops and in-unit washers and dryers. Residents will have access to amenities such as a fitness center, rooftop deck, coworking lounge, golf simulator, dog spa, community gardens, a three-acre park and a pool area with barbeque grills, day beds, cabanas and a bocce ball court. The general contractor for The Eden is NRP Group. The project’s architect is Austin-based Davies Collaborative. Vertical construction on The …
HOUSTON — Cushman & Wakefield has negotiated a 226,287-square-foot office lease renewal in Houston’s Energy Corridor area for global engineering firm Wood Group USA. The tenant will continue to occupy the entirety of Westgate III, a four-story building that was originally constructed in 2014 and is located within the 550-acre Park Ten Business Center. Kevin Snodgrass, Trey Strake and Megan Madorsky of Cushman & Wakefield represented Wood Group USA in the lease negotiations. Chip Colvill, also with Cushman & Wakefield, along with Cameron Colvill of Whitebox Real Estate, represented the landlord, Griffin Partners.
PLANO, TEXAS — JLL has arranged the sale of Independence Crossing, a 124-unit apartment complex located north of Dallas in Plano. Built in 1999, Independence Crossing offers one- and two-bedroom units with an average size of 942 square feet. Amenities include a pool, fitness center, business center, clubhouse and a dog park. Rob Key, Roberto Casas, Greg Toro and David Austin of JLL represented the undisclosed seller in the transaction. Los Angeles-based investment firm Langdon Street Capital acquired the asset for an undisclosed price.
IRVING, TEXAS — New York City-based bridge lender Pembrook Capital Management has provided a $12.2 million loan for the recapitalization and renovation of The Braxton Apartments, a 125-unit complex in Irving. The unit mix comprises 51 studios, 57 one-bedroom apartments and 17 two-bedroom residences. Approximately half of the units are reserved for renters earning between 30 to 80 percent of the area median income. The borrower was not disclosed.
DALLAS — Creative marketing agency Lerma has signed a 27,959-square-foot office lease expansion at The Luminary in Dallas. The tenant is doubling its space with an additional floor at the 169,000-square-foot building, which is located in the West End area. Dan Harris and Nate Hruby of Stream Realty Partners represented Lerma in the lease negotiations. Harwood International recently purchased the building, which offers a rooftop terrace, bike racks and daily food service.
SAN ANTONIO — Austin-based investment firm Door Capital Partners has acquired The Shops at The Rim, a 7,090-square-foot retail strip center in San Antonio. The center was built in 2012 within The Rim, a 1.8 million-square-foot mixed-use development on the city’s northwest side. At the time of sale, the property was fully leased to The Rim Dental Care, Starbucks Coffee, Pigtails & Crewcuts and GNC. C.W. Sheehan, Kaitlin Kane and Hunt Wood of JLL arranged acquisition financing on behalf of Door Capital Partners. Chris Gerard and Jack Copher, also with JLL, represented the undisclosed seller in the disposition.
By John Ducey, chief production officer of Walker & Dunlop’s affordable lending group Private industry and the federal government are rallying to recover ground lost to a housing affordability crisis that has been decades in the making. Nearly half of the nation’s renters, 46 percent, are housing cost-burdened, which the Census Bureau defines as those families paying 30 percent or more of their income on rent and utilities. The burden is higher for some, with nearly one in four families (23 percent of Americans) paying half or more of their income for housing. The situation calls for a change in tactics, a recognition of recent policy failures and a shared commitment to double down on programs with proven efficacy. As a nation we must ask, what can we do differently to put more homes within reach for the growing ranks of Americans who struggle to meet basic housing costs? A Building Problem The gap between housing costs and strained household budgets has widened due to both insufficient supply and wage stagnation that has fueled demand for affordable housing. The larger of the two issues — a lack of supply — traces chiefly to the 2008 financial crisis, which put a …
