HOUSTON — Los Angeles-based design agency Commonwealth Projects has signed a 20,755-square-foot office lease expansion at One Riverway in Houston. The tenant now occupies a full floor at the 481,222-square-foot building, which is located on the city’s west side. Brad Fricks, Matt Asvestas and Danielle Rothchild of Stream Realty Partners represented the landlord, Unilev Capital Corp., in the lease negotiations. Noah Kruger of Savills represented the tenant.
FRISCO, TEXAS — Sports and comedy entertainment group Dude Perfect is planning a $100 million headquarters facility and, according to a report from The Dallas Morning News, has placed North Texas at the top of its site selection list. Variety also reports that Dude Perfect has been planning the facility for about a year with San Antonio-based architecture firm Overland Partners, but is also pitching the project to Los Angeles and Atlanta. The facility would include a 330-foot trick shot tower, mini golf course, a museum and merchandise store, restaurants and two acres of outdoor space. Dude Perfect, which has about 58 million YouTube subscribers, is currently based in Frisco. All five members of the group originally hail from North Texas.
HOUSTON — Berkadia has negotiated the sale of Bend at Oak Forest, a 392-unit apartment community in Houston’s Spring Branch neighborhood. Bend at Oak Forest features one-, two- and three-bedroom units ranging in size from 480 to 1,210 square feet. Amenities include a pool, fitness center, outdoor grilling and dining stations, playground, coffee bar and a pet park. A partnership between Houston-based Goldcor Capital Partners and Maryland-based Excelsa sold the property to locally based investment firm Kastle Assets for an undisclosed price. Jeffrey Skipworth, Chris Curry, Todd Marix, Chris Young, Joey Rippel and Kyle Whitney of Berkadia brokered the deal.
TYLER, TEXAS — Northmarq has arranged the sale of Finley Apartments, a 200-unit multifamily property in Tyler, about 100 miles east of Dallas, that was built in 1977. According to Apartments.com, the property offers one- and two-bedroom units ranging in size from 620 to 1,016 square feet. Amenities include a pool, clubhouse, fitness center, tennis court, package handling service, outdoor grilling and dining areas and onsite laundry facilities. Taylor Snoddy, Philip Wiegand, Eric Stockley and Charles Hubbard of Northmarq represented the undisclosed seller in the transaction. Fritz Waldvogel of Colliers Mortgage originated the 10-year loan on behalf of the buyer.
GRAND PRAIRIE, TEXAS — Outdoor apparel and equipment retailer Bass Pro Shops will open a 100,000-square-foot store in Grand Prairie, located in the central part of the Dallas-Fort Worth (DFW) metroplex. The standalone store, which will be the retailer’s fifth location in the region and 15th in Texas, will be constructed from the ground up and will feature a unique custom design. The opening is slated for spring 2024. TA Land Fund, a joint venture between the Dallas-based office of Trez Capital and Charlie Anderson, owns the land on which the store will be built.
PLANO, TEXAS — Law firm Carstens, Allen & Gourley has signed a 12,500-square-foot office lease at One Legacy Circle in Plano. The firm, which specializes in intellectual property cases, now occupies the third floor of the newly renovated building. Roy Reis and Jim Hazard of Cresa represented the tenant in the lease negotiations. Russ Johnson and Lauren Perry of JLL represented the landlord, Franklin Street Properties Corp.
Combinations of offices with laboratories, research and development spaces and/or manufacturing areas make life sciences facilities highly customizable. These multipurpose, technical spaces are in high demand from companies seeking first-class facilities for research-based advancements. Low vacancies, high rents and the chance to convert unused office or retail spaces on a faster timeline have prompted some creative approaches to retrofit existing space to fulfill the needs of science and technology tenants. In other instances, facilities must be built from the ground up to conform to best practices. But what factors matter most to the life sciences field? And how can developers increase their speed to market? Read on for tips and checklists for developers hoping to speed up the process of building or retrofitting these facilities. Industry Drivers: Speed to Market and Flexibility Office conversions into life sciences facilities offer a variety of options. Life sciences facilities often do not need to accommodate large trucks (eliminating circulation and loading dock concerns), they use office components and (most importantly) office conversions offer faster speed to market than other types of conversions. “Speed to market is most important for these developers/tenants. There is a shortage of space, so a well-designed, spec building will …
RICHARDSON, TEXAS — Rubenstein Mortgage Capital has provided a $62 million acquisition loan for 3400 CityLine, a 312,345-square-foot office building located within the CityLine mixed-use development in the northeastern Dallas suburb of Richardson. Built in 2018, the property rises five stories and features a total of 1,400 parking spaces, as well as a lounge, conference center, fitness center and an outdoor entertainment area. Andrew Murray of Rubenstein Mortgage Capital originated the loan on behalf of the borrower, Chicago-based Zeller Realty Group. At the time of the loan closing, 3400 CityLine was 83 percent leased. JLL arranged the debt.
GRAND PRAIRIE, TEXAS — Andretti Indoor Karting & Games will open a 96,000-square-foot racing and entertainment facility in Grand Prairie, located in the central part of the Dallas-Fort Worth (DFW) metroplex. In addition to the namesake activity, the center will include laser tag, arcade and virtual reality games and duckpin bowling. The facility, which will be the second in the DFW area and seventh nationwide for the Orlando-based concept, is scheduled to open before the end of 2023.
EL PASO, TEXAS — Marcus & Millichap has brokered the sale of Stuff Hotel, a 424-unit self-storage facility that is situated on a 2.5-acre site at 11655 Pellicano Drive in El Paso. Jon Danklefs of Marcus & Millichap represented the seller and procured the buyer, both of which were limited liability companies that requested anonymity, in the transaction.