Texas

IDI Logistics Breaks Ground on 465,786 SF Spec Industrial Project in Round Rock, Texas

by Taylor Williams May 5, 2023

ROUND ROCK, TEXAS — Developer IDI Logistics has broken ground on Sunrise Commerce Center, a 465,786-square-foot speculative industrial project in the northern Austin suburb of Round Rock. The development will consist of five buildings that will be constructed in phases on a 37-acre site. Phase I will feature three rear-load buildings that will range in size from 59,274 to 175,170 square feet and are expected to be complete before the end of the year. Other project partners include 5G Studio Collaborative, Pacheco Koch (civil engineer), Adolfson & Peterson Construction and Stream Realty Partners (leasing agent).

May 5, 2023

Leasing Activity Office Texas

Fluor Corp. Signs 308,186 SF Office Lease in Houston’s Energy Corridor

by Taylor Williams May 5, 2023

HOUSTON — Fluor Corp. (NYSE: FLR) has signed a 308,186-square-foot office lease in Houston’s Energy Corridor. The Texas-based engineering and construction firm will occupy the entirety of Three Eldridge for the next 12 years. Jon Dutton and Andrew Elliott represented the landlord, Granite Properties, in the lease negotiations on an internal basis. Rick Kaplan, David Guion and Chris Oliver of Cushman & Wakefield represented Fluor Corp., which plans to move about 1,600 employees into the 13-story building in the second quarter of 2024.

May 5, 2023

Acquisitions Multifamily Seniors Housing Texas

Greysteel Brokers Sale of 154-Unit Age-Restricted Multifamily Property in Grand Prairie, Texas

by Taylor Williams May 5, 2023

GRAND PRAIRIE, TEXAS — Greysteel has brokered the sale of Wright Senior Apartments, a 154-unit age-restricted multifamily property located in the central metroplex city of Grand Prairie. The community, which is reserved for residents age 62 and over, was constructed in 2005 and houses 123 income-restricted units and 31 market-rate units in a mix of studio, one- and two-bedroom floor plans. Murphy Holloway and Doug Banerjee of Greysteel represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

May 5, 2023

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 19,386 SF Industrial Lease in Garland, Texas

by Taylor Williams May 5, 2023

GARLAND, TEXAS — Lee & Associates has negotiated a 19,386-square-foot industrial lease at 3520 W. Miller Road in Garland, a northeastern suburb of Dallas. According to LoopNet Inc., the property was built in 2003 and totals 64,500 square feet. Taylor Stell of Lee & Associates represented the tenant, HVAC equipment supplier Timberlake & Dickson, in the lease negotiations. Josh Barnes of Holt Lunsford Commercial represented the landlord, The Realty Associates Fund XI.

May 5, 2023

Leasing Activity Retail Texas

Hibbett Sports to Open 7,686 SF Store in Northwest Houston

by Taylor Williams May 5, 2023

HOUSTON — Athletics apparel and equipment retailer Hibbett Sports will open a 7,686-square-foot store at Northwest Crossing Shopping Center, a 181,239-square-foot regional power center in northwest Houston. The opening is scheduled for the fall. Jason Gaines of Sturbridge Commercial Real Estate represented the undisclosed landlord in the lease negotiations. Randy Moudry of Moudry Real Estate Advisors represented Hibbett Sports. Other tenants at the center include Target, Burlington and Marshalls.

May 5, 2023

Acquisitions Multifamily Texas

Nord Group Acquires 248-Unit Apartment Community in North Austin

by Taylor Williams May 4, 2023

AUSTIN, TEXAS — The Nord Group, a private equity firm with offices in New York City and Houston, has acquired The Park at Crestview, a 248-unit apartment community in North Austin. Built in 1970, the property consists of 37 two-story buildings on a 13-acre site. Residences come in one-, two- and three-bedroom floor plans, and amenities include a pool, playground and a dog park. Austin Marshak of New York City-based brokerage firm Rosewood Realty Group represented Nord Group in the transaction. Mike Kerwin and Scott Bernstein, also with Rosewood, represented the seller, Houston-based investment firm Nitya Capital.

May 4, 2023

Development Office Texas

Adolfson & Peterson Completes 242,000 SF Office Building in Plano

by Taylor Williams May 4, 2023

PLANO, TEXAS — General contractor Adolfson & Peterson has completed a 242,000-square-foot office building within International Business Park, a 300-acre campus in Plano by locally based developer Billingsley Co. The five-story building is adjacent to a 175,000-square-foot building that was completed in 2020 and features a fitness center, conference facilities, tenant lounge and a mini-mart. GFF served as the architect for the project, which also included the construction of a 584-space parking garage. JLL has been tapped as the leasing agent.

May 4, 2023

Development Industrial Texas

Brennan Investment Group to Develop 157,300 SF Industrial Project in North Houston

by Taylor Williams May 4, 2023

HOUSTON — Chicago-based Brennan Investment Group will develop a 157,300-square-foot industrial project on a 10.8-acre site at 500 N. Sam Houston Parkway W in North Houston. The rear-load building, which can support a single user or multiple tenants, will feature 32-foot clear heights, an ESFR sprinkler system and ample trailer parking. Completion is slated for the third quarter of 2024.

May 4, 2023

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 41,832 SF Industrial Lease in Fort Worth

by Taylor Williams May 4, 2023

FORT WORTH, TEXAS — Lee & Associates has negotiated a 41,832-square-foot industrial lease at 2101 Terminal Road in Fort Worth. Corbin Blount and Adam Graham of Lee & Associates represented the tenant, recycling and waste management firm Echo Fibers, in the lease negotiations. Britton New represented the landlord, GT Industrial Properties, on an internal basis. According to LoopNet Inc., the property was built on 10 acres in 1957 and features 20-foot clear heights and 140 car parking spaces.

May 4, 2023

Leasing Activity Life Sciences Office Texas

Antech Diagnostics Signs 22,578 SF Lease Renewal, Expansion in Irving

by Taylor Williams May 4, 2023

IRVING, TEXAS — Antech Diagnostics, a provider of veterinary diagnostic and lab testing services, has signed a 22,578-square-foot lease renewal and expansion in Irving. The company has committed to Royal Jetstar Tech Center a 92,051-square-foot office and lab building, for an additional 10 years and is taking an additional 9,578 square feet. Jason Finch and Michael Spain of Bradford Commercial Real Estate Services represented the landlord, an entity doing business as Pre DFW Airport LLC, in the lease negotiations. Ryan Buchanan of CBRE represented Antech Diagnostics.

May 4, 2023

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