HOUSTON — JLL has arranged the sale of Steeplechase Center, a 195,575-square-foot retail power center in northwest Houston. At the time of sale, Steeplechase Center was 82 percent leased to tenants such as Goodwill, Melrose, Citi Trends, Uptown Beauty, Dollar Tree, dd’s Discounts, 99 Cents Only, Big City Wings, Leslie’s Pool Supplies and Rent-A-Center. John Indelli and Ryan West of JLL represented the seller, an entity doing business as Jones 1960 Crossroads LLC, in the transaction. Nashville-based investment firm Highland Capital purchased the asset for an undisclosed price.
CARROLLTON, TEXAS — Lee & Associates has negotiated a 37,373-square-foot industrial lease in the northern Dallas metro of Carrollton. According to LoopNet Inc., the property at 2545 Golden Bear Drive was built in 2005 and totals 49,591 square feet. Johnny Anderson and Mark Graybill of Lee & Associates represented the landlord, an entity doing business as SL6 Logistics LP, in the lease negotiations. The representative of the tenant, packaging and fastener distributor SouthernCarlson, was not disclosed.
STAFFORD, TEXAS — Zeno Truck Parts has signed a 12,564-square-foot industrial lease renewal and expansion at 4007 Greenbriar Drive in Stafford, a southwestern suburb of Houston. According to commercialcafé.com, the multi-tenant building totals 34,705 square feet and was constructed on 2.1 acres in 1982. Dylan Stiteler of Oxford Partners represented the tenant in the lease negotiations. William Carpenter of Stream Realty Partners represented the landlord, DRA Advisors.
By Barry Hand, principal, Gensler In a recent tour of a name-brand corporate campus, the host carefully explained to our team that his company’s policy regarding working from home (WFH) and returning to the office (RTO) remained loose as they completed a “year of learning.” This “learning” presumably involved listening to staff, observing who badges in when and where, experimenting with what works and what doesn’t and resolving the best way to get their arms around the most effective policies. This explanation has surely been given repeatedly in recent years. It appears most companies prefer to bring their people back to the office, but they also want to adopt policies that will work best for employees and customers, as well as the future of their organizations. While there are outliers that have instituted clear return-to-office directives, most firms are adopting change management strategies organized around attracting staff back to the office. They are doing this by leaning on experiences and amenities that demonstrate to employees the benefits of being present in the office. It seems the “experience” around which retail and food-and-beverage establishments are designed has now also reached into the corporate world. The Amenitized Workplace Increasing numbers of …
DALLAS — A partnership between German investment firm MEAG and CBRE Investment Management has acquired Laurel Preston Hollow, a 159-unit apartment complex in North Dallas. The property offers one-, two- and three-bedroom units that are furnished with stainless steel appliances, granite countertops and individual washers and dryers. Amenities include a pool, fitness center, clubhouse, business center, dog park and multiple courtyards. The seller and sales price were not disclosed.
HOUSTON — Developers Milton Allen and Bobby Ferguson are underway on construction of an 83,750-square-foot office condo project in West Houston. Suites will come in a variety of sizes, and the condos will also include flexible workspaces. The project will deliver three properties that will all be marketed for sale upon completion, a tentative date for which was not disclosed.
DALLAS — Capital Institutional Services has signed a 24,106-square-foot office lease renewal at 1700 Pacific Ave. in downtown Dallas. The 49-story building totals approximately 1.3 million square feet and offers a food court, fitness center and conference facilities. Natalie Bode, John Pelletier and Darren Woodson of Cresa represented the tenant in the lease negotiations. The owner, Memphis-based development and investment firm Olymbec, was self-represented.
IRVING, TEXAS — Lee & Associates has negotiated an 18,924-square-foot industrial lease at 5325 FAA Blvd. in Irving. According to LoopNet Inc., the building features 24-foot clear heights, two dock-high doors and roughly 3,000 square feet of office space. Reed Parker of Lee & Associates represented the tenant, Reaction Audio Visual, in the lease negotiations. Mark Graybill and Ken Wesson, also with Lee & Associates, represented the landlord, Nuveen Real Estate.
IRVING, TEXAS — Lawn & Garden, a provider of lawncare products and equipment, has relocated its corporate headquarters from the northern-central metroplex city of Coppell to Esters 114 Business Center in Irving. Clint Madison, John Fancher and Randy Wood of Cushman & Wakefield represented the landlord, Stanton Road Capital, in the lease negotiations. Bill Buntyn and Dylan Smith of Colliers represented Lawn & Garden, which will occupy 11,409 square feet at Esters 114.
HOUSTON — Houston-based developer BHW Capital has completed Park on Napoli, a 239-unit apartment community on the city’s northwest side. Park on Napoli offers one- and two-bedroom units and amenities such as a pool, fitness center, dog park and a resident clubhouse with coworking space. Houston-based Mucasey & Associates served as the project architect, and Blazer Building served as the general contractor. Texas Capital Bank provided construction financing. Rents start at roughly $1,300 per month for a one-bedroom apartment.