ALLEN, TEXAS — Lee & Associates has negotiated the sale of a 29,979-square-foot office building in the northeastern Dallas suburb of Allen. According to LoopNet Inc., the two-story building at 100 Allentown Parkway was constructed in 1985 and includes 142 parking spaces. Jessica Reinhardt and George Tanghongs of Lee & Associates brokered the deal. The buyer and seller were not disclosed.
KATY, TEXAS — Engineering firm Percheron Holdings has signed a 28,597-square-foot office lease extension for its headquarters space at Grandway West, located at 1904 Grand Parkway N in the western Houston suburb of Katy. Chris Nash of Colliers and Jeremy Hunt of Hunt’s Real Estate represented the tenant in the lease negotiations. Parker Burkett and Eric Anderson with Transwestern represented the locally based landlord, InSite Realty.
HOUSTON — Locally based firm RE:VIVE Development has completed Stomping Grounds, a project in Houston’s Heights neighborhood that consists of 26,000 square feet of retail and restaurant space and 10,000 square feet of open green space. The site spans three acres. Tenants include local operators such as Rooster & Rice, Bollo Woodfired Pizza, Sonoma Wine & Cheese, Luloo’s Day & Night and Fat Cat Creamery.
AUSTIN, TEXAS — The Richmond Group, a multifamily owner-operator based in Connecticut, has begun leasing The Prescott, a 340-unit apartment community in Austin’s South Congress neighborhood. The Prescott features 16 different floor plans, including studio, one-, two- and three-bedroom units that are furnished with stainless steel appliances, granite countertops, individual washers and dryers and private balconies/patios. Amenities include a pool, business center, fitness center, pet park, clubroom, package locker system and outdoor grilling and dining stations. South Florida-based V Starr handled the interior design of the project. Rents start at roughly $1,300 per month for a studio apartment.
AUSTIN, TEXAS — Newmark has brokered the sale of Water Oak, a 292-unit apartment community in South Austin. Built in 2022, Water Oak offers studio, one-, two- and three-bedroom units. Amenities include a pool, outdoor grilling and dining stations, a dog park and pet spa, clubhouse, entertainment kitchen, movie theater, business center with conference rooms and a fitness center. Austin-based JCI Residential sold the property to Chicago-based Sherman Residential for an undisclosed amount. Patton Jones and Andrew Dickson of Newmark brokered the deal.
BELTON, TEXAS — Adolfson & Peterson (AP) Construction is underway on a 79,000-square-foot healthcare project in Belton, about 75 miles north of Austin. The two-story, 96-bed facility will be an expansion of the Cedar Crest Hospital & Residential Treatment Center and will include space for activity therapy, an outpatient clinic, gym and a new kitchen. AP Construction is also renovating the facility’s existing kitchen. Completion is slated for spring 2025.
ARLINGTON, TEXAS — Lee & Associates has negotiated a 56,960-square-foot industrial lease in Arlington. According to LoopNet Inc., the single-tenant property at 614-616 111th St. was built in 1978. Robert Miller of Lee & Associates represented the tenant in the lease negotiations. Colton Rhodes, also with Lee & Associates, represented the landlord, Texas-based investment firm Stonelake Capital Partners.
HOUSTON — Solar power provider Chariot Energy has signed a 16,192-square-foot office lease at Galleria Tower 2 in Houston. The tenant plans to relocate from Williams Tower to the entire 14th floor early next year. Brad Beasley and Win Haggard of Cushman & Wakefield represented the landlord, Unilev Management, in the lease negotiations. Nick Bockhorn and Cameran Lindee of CBRE represented the tenant.
DALLAS — Locally based hospitality development firm Sava Holdings has purchased Stemmons Towers, a 285,312-square-foot office complex in West Dallas, with plans to convert the property to multifamily use. Stemmons Towers consists of two 12-story buildings that were originally developed in the 1960s by Trammell Crow and John Stemmons, and Sava plans to add a 13th floor to each building as part of the project. The 13-acre site also includes open space for a residential pocket park and greenbelt area. Sava will rebrand the property as Lumiere. Construction is scheduled to begin in mid- to late 2024. John St. Clair and Trae Anderson of Dallas-based brokerage firm Younger Partners represented the seller in the disposition of the property.
TOMBALL, TEXAS — Accelerated Solutions Group, a supplier of automotive accessories, has opened an 80,000-square-foot manufacturing facility in the northwestern Houston suburb of Tomball. The company plans to hire about 50 people to work at the facility. The seven-acre site is located within Interchange 249, a 250-acre development that comprises 3.1 million square feet across 10 buildings. Powers Brown Architecture designed the facility, which features 30-foot clear heights and 100 parking spaces. A partnership between Houston-based Lovett Industrial and New York-based Clarion Partners owns Interchange 249.