Texas

Creation Completes 234,478 SF Industrial Project in Haltom City, Texas

by Taylor Williams March 10, 2023

HALTOM CITY, TEXAS — Creation, a Phoenix-based investment and development firm, has completed Northmark Commerce Center, a 234,478-square-foot industrial project in the Fort Worth suburb of Haltom City. Designed by LGE Design Group, the cross-dock facility sits on 20 acres and features 32-foot clear heights and 19 trailer parking stalls. Creation developed Northmark Commerce Center in partnership with Crow Holdings Capital. Dallas-based Holt Lunsford Commercial has been tapped to lease the development. Construction began in late 2021.

March 10, 2023

Development Industrial Texas

Greystar Completes 166,000 SF Distribution Center in Northwest Houston

by Taylor Williams March 10, 2023

HOUSTON — Greystar has completed The Mill, a 166,000-square-foot, shallow-bay distribution center in northwest Houston. The property, which features 185-foot truck court depths, 32-foot clear heights, 33 dock-high doors and 12 trailer parking stalls, is the first industrial project in Houston for Greystar. The South Carolina-based developer is also underway on Beltway 35 Business Park, a Houston project that will ultimately consist of five buildings totaling 1.3 million square feet on a 91-acre site.

March 10, 2023

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 165,050 SF Industrial Lease in Metro Dallas

by Taylor Williams March 10, 2023

CARROLLTON, TEXAS — Lee & Associates has negotiated a 165,050-square-foot industrial lease at 2080 McDaniel Drive in the northern Dallas suburb of Carrollton. The tenant, alcoholic beverage provider Buzzballz, is expanding from its 125,000-square-foot space at the adjacent facility at 2020 McDaniel Drive. Nathan Denton of Lee & Associates represented the tenant in the negotiations for the full-building lease. Prologis owns the property, which was originally built in 1981, according to LoopNet Inc.

March 10, 2023

Industrial Leasing Activity Texas

Streamline Packaging Solutions Signs 92,098 SF Industrial Lease Renewal in Fort Worth

by Taylor Williams March 10, 2023

FORT WORTH, TEXAS — Streamline Packaging Solutions has signed a 92,098-square-foot industrial lease renewal at RiverPark Business Center in Fort Worth. The development consists of two buildings totaling 500,635 square feet on a 25-acre site, and Streamline Packaging has been a tenant since 2011, occupying space at the 355,238-square-foot Building B. Michael Spain of Bradford Commercial Real Estate Services represented the landlord, an entity doing business as SCG River Park Business Center LP, in the lease negotiations. Scott Miller of Bolanz & Miller Realtors Inc. represented the tenant.

March 10, 2023

Acquisitions Office Retail Texas

NewForm Acquires 40,000 SF Historic Building in Downtown Houston

by Taylor Williams March 10, 2023

HOUSTON —NewForm Real Estate has acquired a historic building located at 917 Franklin St. in downtown Houston that consists of roughly 35,000 square feet of office space and 5,000 square feet of retail space. The six-story building originally opened in 1904 as Commercial National Bank. NewForm is planning a complete overhaul of the building, including upgrades to the façade, lobby, windows, restrooms, utility systems and office suites. The locally based investment firm has hired CBRE to lease the office space and Transwestern to lease the retail space.

March 10, 2023

Development Retail Texas

Merlin Entertainments to Open Peppa Pig Theme Park in North Richland Hills, Texas

by Taylor Williams March 9, 2023

NORTH RICHLAND HILLS, TEXAS — Merlin Entertainments, an operator based in the United Kingdom, will open a theme park in North Richland Hills, a suburb of Fort Worth, that will be dedicated to children’s character Peppa Pig. The size of the park, which will feature multiple rides, interactive attractions, themed playscapes and shows, was not disclosed. The location, which is next to the NRH2O Family Water Park, formerly housed Mountasia Family Fun Center. The opening is slated for 2024. Merlin Entertainments, which operates facilities for concepts including Legoland and Sea Life Aquariums, has a licensing agreement with toymaker Hasbro, which owns the intellectual property rights to Peppa Pig and associated characters.

March 9, 2023

Affordable Housing Development Multifamily Texas

Palladium Underway on 240-Unit Mixed-Income Residential Project in Fort Worth

by Taylor Williams March 9, 2023

FORT WORTH, TEXAS — Locally based developer Palladium USA is underway on construction of Palladium Oak Grove, a 240-unit mixed-income residential project in Fort Worth. Residences will come in one, two- and three-bedroom formats, and amenities will include a pool, fitness center, conference center, dog park, computer lounge, kid’s playroom and a resident clubroom. Cross Architects is designing the project, and Treymore Construction is the general contractor. The Texas Department of Housing & Community Affairs issued $25.6 million in tax-exempt bonds that were purchased by Cedar Rapids Bank & Trust to fund the project. PNC Bank also provided over $23 million in equity. Palladium Oak Grove’s first units are expected to be complete in May 2024.

March 9, 2023

Industrial Leasing Activity Texas

Detering Co. Signs 100,000 SF Industrial Lease Near Downtown Houston

by Taylor Williams March 9, 2023

HOUSTON — The Detering Co., a family-owned supplier of building materials, has signed a 100,000-square-foot industrial lease at 1919 Collingsworth St., about three miles north of downtown Houston. According to LoopNet Inc., the property was built in 2001 and features 30- to 36-foot clear heights, 25 dock doors and additional acreage for trailer storage. John Milam of Fritsche Anderson Realty Partners represented the tenant, which plans to operate a lumber business at the property, in the lease negotiations. Chris Haro of Partners Real Estate represented the landlord, American Warehouses.

March 9, 2023

Acquisitions Office Texas

NewQuest Properties Negotiates Sale of 60,000 SF Office Building in Houston

by Taylor Williams March 9, 2023

HOUSTON — Locally based brokerage firm NewQuest Properties has negotiated the sale of a 60,000-square-foot office building in Houston’s Greenspoint neighborhood. The six-story building at 11947 North Freeway was 29.5 percent leased at the time of sale. John Nguyen of NewQuest Properties represented the seller, an entity doing business as Contender Two LLC, in the transaction. Albi Neziri of Texas Advantage Realty represented the buyer, which plans to occupy the majority of the office space and offer the balance for multi-tenant use.

March 9, 2023

Acquisitions Industrial Texas

Cravey Real Estate Arranges Sale of 34,165 SF Industrial Property in Corpus Christi

by Taylor Williams March 9, 2023

CORPUS CHRISTI, TEXAS — Locally based brokerage firm Cravey Real Estate Services has arranged the sale of a 34,165-square-foot industrial property in Corpus Christi. The property consists of four buildings on a 13.6-acre site that formerly housed the operations of Orion Drilling Co., the seller of the property that previously filed for bankruptcy. John Foret of Cravey Real Estate Services represented the buyer, CoFlow Compression LLC, in the transaction. George Clower of Clower Co. represented Orion Drilling.

March 9, 2023

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