Texas

Molto Properties Breaks Ground on 604,064 SF Industrial Project in Metro Austin

by Taylor Williams August 31, 2022

GEORGETOWN, TEXAS — Chicago-based developer Molto Properties has broken ground on Blue Springs Business Park, a 604,064-square-foot industrial project in the northern Austin suburb of Georgetown. Blue Springs Business Park will consist of three cross-dock and rear-load buildings ranging in size from 124,914 to 310,366 square feet. The structures will be situated on a 43-acre site less than half a mile from I-35. Building features will include 32- to 36-foot clear heights, 180- to 210-foot truck court depths, ESFR sprinkler systems and combined parking for 580 cars and 90 trailers. Burton Construction is the general contractor for the project, which is slated for a second-quarter 2023 completion. Transwestern has been tapped to lease the development, which is Molto Properties’ first in Central Texas.

August 31, 2022

Civic Development Texas

Harmony Public Schools to Open 160,000 SF Campus at CityPlace in Houston

by Taylor Williams August 31, 2022

HOUSTON — Harmony Public Schools, a charter program focused on the science, technology, engineering and math (STEM) disciplines, will open an 160,000-square-foot Houston campus for students in grades pre-K through 12. The campus will be located within CityPlace, a mixed-use development that is led by New York-based Coventry Development Corp. The 60,000-squuare-foot campus for pre-K and elementary students is scheduled to open in advance of the 2024-2025 academic year, and the 100,000-square-foot middle and high school campus should come on line in time for the 2026-2027 school year.

August 31, 2022

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 580-Unit Self-Storage Facility in Troy, Texas

by Taylor Williams August 31, 2022

TROY, TEXAS — Marcus & Millichap has brokered the sale of Trojan Self Storage, a 580-unit facility in Troy, located south of Waco in Central Texas. The facility spans 87,480 net rentable square feet. Brandon Karr of Marcus & Millichap represented the buyer and seller, both of which were private investors that requested anonymity, in the transaction.

August 31, 2022

Leasing Activity Office Texas

CBRE Negotiates 45,496 SF Office Headquarters Lease in Southwest Austin

by Taylor Williams August 31, 2022

AUSTIN, TEXAS — CBRE has negotiated a 45,496-square-foot office headquarters lease in southwest Austin for Epicor Software, a provider of technology solutions for the manufacturing, distribution and retail sectors. Nate Stricklen and John Gump of CBRE represented the tenant, which took occupancy of its new space within the Las Cimas office complex in July, in the lease negotiations. Kevin Granger and Brian Liverman of Cushman & Wakefield represented the landlord, Boston-based Rockpoint.

August 31, 2022

Lee & Associates Office Texas

Kimley-Horn Signs 23,608 SF Office Lease Expansion in Houston’s Energy Corridor

by Taylor Williams August 31, 2022

HOUSTON — Civil engineering firm Kimley-Horn has signed a 23,608-square-foot office lease expansion at 11700 Katy Freeway in Houston’s Energy Corridor. The tenant is doubling its space to 47,216 square feet at the 14-story, 325,000-square-foot building. Kevin Poynter of Poynter Commercial Properties Corp. represented the landlord, an affiliate of ATCAP Partners, in the lease negotiations. Kris Knapstein and Drew Morris of Savills represented Kimley-Horn.

August 31, 2022

Market Reports Texas Texas Market Reports

Collin County Economy Evolves, Diversifies as New Commercial Users Emerge

by Taylor Williams August 31, 2022

By Jim Breitenfeld, CCIM, president, Sidecar Commercial Real Estate While Collin County continues to see massive residential projects in markets like Anna, Celina and Melissa, as well as major redevelopments of existing shopping and dining destinations, a closer look at the region’s economic drivers reveals a significant shift in the types of industries that are driving demand for new commercial projects. Housing remains a critical need for all of North Texas, one of the fastest-growing regions in the country. With that comes demand for revamped retail, restaurant and entertainment options that include a healthy mix of necessity and luxury users, as well as some basic demand for office space. The latter is already well-supported via the swaths of corporate relocations and regional workforce consolidations that have occurred in the area over the past five to 10 years. But those needs are fairly germane to any area that is experiencing rapid and substantial job and population growth. In addition to this activity, we now see new types of commercial tenants targeting Collin County. These include life sciences/biotech, supply chain/logistics and specialized healthcare uses. According to data supplied by the U.S. Bureau of Labor Statistics and analyzed and published in the Sidecar …

August 31, 2022

Market Reports Texas Texas Market Reports

Collin County, Texas Economy Evolves, Diversifies as New Commercial Users Emerge

by Taylor Williams August 31, 2022

August 31, 2022

Acquisitions Build-to-Rent Development Single-Family Rental Texas

Empire Group Acquires 48 Acres in Fort Worth for Build-to-Rent Residential Project

by Taylor Williams August 30, 2022

FORT WORTH, TEXAS — Arizona-based developer Empire Group of Cos. has acquired 48 acres near North Riverside Drive and Golden Triangle Boulevard in Fort Worth for the construction of a build-to-rent residential project. Empire plans to develop Village at Golden Triangle, which will comprise 323 homes on 30 acres, and sell the remaining 18 acres, which are zoned for office and/or retail development. Homes will come in a mix of one-, two- and three-bedroom formats with private backyards, and residential amenities will include a pool, outdoor grilling areas, a fitness center, walking paths, community clubhouse and a dog park. Construction is set to begin in the first quarter of 2023. Details of the commercial component were not disclosed. Empire Group acquired the land for $16 million.

August 30, 2022

Leasing Activity Life Sciences Texas

Cellipont Bioservices Signs 76,245 SF Life Sciences Lease in The Woodlands

by Taylor Williams August 30, 2022

THE WOODLANDS, TEXAS — Cellipont Bioservices, a California-based biotechnology company specializing in cell therapy treatments, has signed a 76,245-square-foot life sciences lease in The Woodlands, located about 30 miles north of Houston. The facility will be constructed in phases from the ground up, with initial operations expected to commence during the first half of 2023. Zach Leger and Holden Rushing of NAI Partners represented the tenant in the lease negotiations. Dave Baker and Brian Buglione of JLL represented the landlord, Vitrian.

August 30, 2022

Leasing Activity Office Texas

CBRE Negotiates 64,018 SF Office Lease at Westway Plaza in Houston

by Taylor Williams August 30, 2022

HOUSTON — CBRE has negotiated a 64,018-square-foot office lease at Westway Plaza, a 325,000-square-foot building located two miles northwest of Houston’s Energy Corridor. Kevin Saxe of CBRE represented the tenant, independent oil and gas provider Surge Energy, in the lease negotiations. Surge Energy is relocating from nearby Heron Lakes Office Park and adding 25,000 square feet to its corporate footprint. The move-in is scheduled for February 2023.

August 30, 2022

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