Texas

Midway Unveils Plans for 70-Acre Watermark Mixed-Use Development in Houston

by Taylor Williams October 24, 2022

HOUSTON — Locally based investment and development firm Midway has unveiled plans for Watermark District at Woodcreek, a 70-acre mixed-use development that will be located at the site of the former ConocoPhillips headquarters campus in West Houston. Once completed, Watermark will house 650,000 square feet of Class A office space, with a focus on natural light and flexible floor plans. The development will also include retail and restaurant space and boutique hotels. Midway also plans to modernize the existing 100,000-square-foot wellness and fitness facility. Construction is scheduled to begin in the first half of 2023. Midway also intends to repurpose a portion of the site’s existing infrastructure, which includes 16 three-story office pavilions connected by bridges over ponds and grassy areas. Repurposing existing buildings contributes to Midway’s intention toward environmental sustainability in the project. To that end, the firm has partnered with 374Water to introduce an integrated wastewater management system to the development. Wastewater, along with food wastes, will be processed and recovered as clean water, energy and minerals. Plans for infrastructural upgrades also include a new urban grid system. Architect Kevin Roche designed the property in 1978 for Conoco with an aesthetic emulating that of a Japanese fishing village. …

October 24, 2022

Acquisitions Multifamily Texas

Odyssey Properties Buys Three Metro Dallas Multifamily Communities Totaling 578 Units

by Taylor Williams October 21, 2022

ARLINGTON AND GRAND PRAIRIE, TEXAS — Los Angeles-based investment firm Odyssey Properties Group has purchased three metro Dallas multifamily properties totaling 578 units. Huntington Meadows and The Dalton are located adjacent to one another in Arlington, were built in 1984 and respectively total 250 and 68 units in one- and two-bedroom formats. Combined amenities include a fitness center, three pools, outdoor grilling and dining areas, a tennis court, pet park and a business center. The Belmont in Grand Prairie totals 260 units, also with one- and two-bedroom floor plans, and was built in 1983. The new ownership plans to implement a value-add program across all three properties.

October 21, 2022

Acquisitions Industrial Texas

Titan Development Sells 294,297 SF Industrial Facility in Metro Austin

by Taylor Williams October 21, 2022

GEORGETOWN, TEXAS — Titan Development has sold Gateway 35 Commerce Center Building 1, a 294,297-square-foot industrial facility located in the northern Austin suburb of Georgetown. Built on 21 acres in 2022, the cross-dock building was fully leased to California-based electronics manufacturer CelLink Corp. at the time of sale. Building features include 36-foot clear heights, 185-foot truck court depths, 220 car parking spaces and 94 trailer parking stalls. Trent Agnew, Dustin Volz, Dom Espinosa, Josh Villarreal and Megan Babovec of JLL represented Titan Development in the transaction. The buyer and sales price were not disclosed.

October 21, 2022

Development Multifamily Texas

StreetLights Residential Breaks Ground on 276-Unit Multifamily Project in Austin

by Taylor Williams October 21, 2022

AUSTIN, TEXAS — Dallas-based developer StreetLights Residential has broken ground on The Maris, a 276-unit multifamily project in Austin’s Lakeline neighborhood that represents Phase IV of the Presidio development. Phase I, The Michael, and Phase II, The Elizabeth, were completed in 2016 and 2019, respectively. Phase III, The Asher, is scheduled to open before the end of the year. The Maris will feature studio, one-, two- and three-bedroom floor plans ranging in size from 517 to 1,684 square feet. Amenities will include a pool, fitness center, coworking spaces and a game room. SLR Construction is the general contractor for The Maris.

October 21, 2022

Acquisitions Multifamily Texas

Magma Equities Acquires 240-Unit Apartment Complex in Roanoke, Texas

by Taylor Williams October 21, 2022

ROANOKE, TEXAS — Southern California-based investment firm Magma Equities has acquired Lost Spurs Ranch, a 240-unit apartment complex located north of Fort Worth in Roanoke. Built in 2001, the property comprises 12 three-story buildings that house one-, two- and three-bedroom units on a 13.5-acre site. The amenity package comprises a pool, fitness center, basketball court, playground and a media room. Magma Equities, which acquired the asset in a joint venture with Walker & Dunlop Investment Partners as part of a larger off-market portfolio deal, plans to upgrade the unit interiors and building exteriors. Moody National Cos. sold the property for an unspecified price. Lost Spurs Ranch, which was acquired in conjunction with the 580-unit Village at Bellaire in Houston, was 99 percent occupied at the time of sale.

October 21, 2022

Leasing Activity Office Texas

Canyon Partners Signs Office Lease Renewal in Dallas’ Harwood District

by Taylor Williams October 21, 2022

DALLAS — Investment management firm Canyon Partners has signed an office lease renewal within the Harwood District, a development that spans 19 city blocks in Uptown Dallas. The square footage of the lease was not disclosed. The tenant will continue to occupy the second floor of Harwood No. 2, which was originally built in 1996 and is now fully leased. Andy Leatherman of JLL represented Canyon Partners in the lease negotiations. Hannah Mesh and Kelly Whaley represented the landlord, Harwood International, on an internal basis.

October 21, 2022

Acquisitions Multifamily Texas

Magma Equities Buys 580-Unit Village at Bellaire Apartments in West Houston

by Taylor Williams October 20, 2022

HOUSTON — Southern California-based investment firm Magma Equities has purchased Village at Bellaire, a 580-unit apartment community in West Houston. Built in 1990, Village at Bellaire consists of 25 three-story buildings that house one- and two-bedroom units on a 14.4-acre site. Residences are furnished with stainless steel appliances, brushed nickel hardware, granite countertops and full-size washers and dryers. Select apartments also offer private balconies/patios. The amenity package consists of two pools, a fitness center, outdoor grilling and dining stations, clubhouse, game room, business center and package concierge services. Magma Equities, which acquired the asset in a joint venture with Walker & Dunlop Investment Partners and Pacific Life as part of a $189 million off-market portfolio deal, plans to upgrade the unit interiors and building exteriors. Moody National Cos. sold the property for an unspecified price.

October 20, 2022

Acquisitions Industrial Texas

JLL Negotiates Sale of 374,560 SF Cold Storage Facility in Denton, Texas

by Taylor Williams October 20, 2022

DENTON, TEXAS — JLL has negotiated the sale of a 374,560-square-foot cold storage facility in the North Texas city of Denton. Delivered on a speculative basis in 2022, Cold Creek Solutions Denton features 45-foot clear heights, 60,000 pallet positions, 53 dock positions, 147 car parking spaces and 85 trailer parking stalls. The breakdown of the square footage translates to 306,240 square feet of freezer/cold storage space, a 59,320-square-foot refrigerated dock and 9,000 square feet of office space. An undisclosed institutional investment firm purchased the asset from developer Cold Creek Solutions for an undisclosed price. Dustin Volz, Stephen Bailey, Dom Espinosa, Wells Waller and Cole Sutter of JLL brokered the deal. The property was 50 percent leased to Southwest Warehouse Services at the time of sale.

October 20, 2022

Development Multifamily Texas

KWA Construction Breaks Ground on 362-Unit Settler Apartments in Fort Worth

by Taylor Williams October 20, 2022

FORT WORTH, TEXAS — Locally based general contractor KWA Construction has broken ground on Settler Apartments, a 362-unit multifamily project in Fort Worth. Designed by Hensley Lamkin Rachel and developed by Toll Brothers, Settler Apartments will be a four-story structure that will wrap around a five-story precast parking garage. Units will come in one-, two- and three-bedroom floor plans. Amenities will include a pool, fitness center, outdoor grilling and dining stations, clubroom, dog run and a conference center. Completion is slated for summer 2024.

October 20, 2022

Acquisitions Multifamily Texas

Bell Partners Acquires 234-Unit Multifamily Property in Frisco

by Taylor Williams October 20, 2022

FRISCO, TEXAS — North Carolina-based investment firm Bell Partners has acquired Residences at Starwood, a 234-unit multifamily property located north of Dallas in Frisco that was completed in 1998. According to Apartments.com, the property offers one-, two- and three-bedroom units ranging in size from 662 to 1,465 square feet. Amenities include a pool, fitness center, clubhouse and outdoor grilling and dining areas. Bell Partners acquired the asset as part of a portfolio of four multifamily properties totaling 846 units that collectively fetched a price of $313 million. The seller was not disclosed.

October 20, 2022

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