LINDALE AND WHITEHOUSE, TEXAS — Greystone has provided four Fannie Mae loans totaling $16.1 million for a quartet of multifamily properties in Smith County, located roughly midway between Dallas and Shreveport, La. The properties are located in Lindale and Whitehouse, both of which are part of the Tyler metro area, and total 136 units. Stella Plotkin of Greystone originated the nonrecourse loans, all of which were structured with 10-year terms, fixed interest rates and 30-year amortization schedules. The borrower(s) was not disclosed.
CARROLLTON, TEXAS — Lee & Associates has negotiated a 31,835-square-foot industrial sublease in the northern Dallas metro of Carrollton. According to LoopNet Inc., the property at 1215 W. Crosby Road was built in 2014 and totals 184,855 square feet. Corbin Blount and Adam Graham of Lee & Associates represented the sublessor, Grand Fusion Housewares LLC, in the lease negotiations. Mike Cleary, Bill Buntyn and Danny Stimson of Colliers represented the sublessee, Accelevation LLC.
SAN ANTONIO — KW Commercial has arranged the sale of Buena Vida Apartments, a 28-unit apartment building located on the south side of San Antonio. According to Apartments.com, the property was built in 1968 and offers one- and two-bedroom units. Jaxton Hoelting of KW Commercial represented the California-based seller in the transaction. Jackie Oldbury of Keller Williams represented the Texas-based buyer.
HOCKLEY, TEXAS — Industrial suppliers provider Grainger (NYSE: GWW) will open a 1.2 million-square-foot distribution facility in Hockley, about 40 miles northwest of Houston. Houston-based Hines will develop the build-to-suit facility, which will be situated on a 108-acre site that is currently vacant. Grainger expects the project to add about 400 jobs to the local economy. Construction is scheduled to begin this spring, and the facility is expected to be operational by 2026. Grainger already operates more than 45 locations in Texas, including six branches within the city of Houston and a 374,000-square-foot distribution center and 441,000-square-foot bulk warehouse, both of which are located outside of Dallas.
SPICEWOOD, TEXAS — Wasatch Premier Properties has acquired 58 acres within the Thomas Ranch master-planned community in Spicewood, about 35 miles west of Austin, for the development of a 600-unit multifamily project. Designed by Dallas-based Hensley Lamkin Rachel Inc., the development currently calls for 100 townhomes and 500 apartments. Townhomes will come in two- and three-bedroom formats and range in size from 1,400 to 1,700 square feet. Apartments will come in one-, two- and three-bedroom floor plans and range in size from 650 to 1,400 square feet. Amenities will include a pool, fitness center, clubhouse and a dog park. Areté Collective, the master developer of Thomas Ranch, sold the land to Wasatch Premier. A construction timeline was not disclosed.
ADDISON, TEXAS — CheckSammy has signed a 45,098-square-foot office lease renewal and expansion in the northern Dallas metro of Addison. The waste management services provider is taking an additional 22,549 square feet at The Madison, a 288,000-square-foot building located at 15851 N. Dallas Parkway. Travis Boothe, Hanna Henley and Robbie Baty of Cushman & Wakefield represented the tenant in the lease negotiations. Michael Foster and Chris Andler represented the landlord, Property Advisers Realty, on an internal basis.
GARLAND, TEXAS — Lee & Associates has brokered the sale of a 27,161-square-foot industrial building in the northeastern Dallas suburb of Garland. According to LoopNet Inc., the building at 2025 Wall St. was constructed on 1.4 acres in 2004 and features 18-foot clear heights. Taylor Stell and Brett Lewis of Lee & Associates represented the undisclosed seller in the transaction. The buyer was also not disclosed.
DALLAS — Partners Real Estate has negotiated a 12,600-square-foot industrial lease at 5131 Sharp St. in the Brookhollow neighborhood of Dallas. Hanes Chatham Jr. and Graham Dressel of Partners represented the tenant, McMahan’s Flooring Inc., in the lease negotiations. Turner Peterson with Mercer Co. represented the landlord, locally based investment firm CanTex Capital.
RICHARDSON, TEXAS — Newmark has arranged the sale of Collins Crossing, a 300,887-square-foot office building located along North Central Expressway in the northeastern Dallas suburb of Richardson. The 11-story building was constructed in 1999, according to LoopNet Inc. Amenities include a deli, fitness center and a conference center. Gary Carr, Robert Hill and Chris Murphy of Newmark represented the seller, Massachusetts-based Franklin Street Properties Corp., in the transaction. The buyer, a partnership between Goldenrod Cos. and Reserve Capital Partners, purchased the asset for an undisclosed price. The sale included the building’s parking structure and an adjacent 3.6-acre parcel that can support mixed-use development. Collins Crossing was 85 percent leased at the time of sale.
AUSTIN, TEXAS — A partnership between nonprofit developer The NHP Foundation, Capital A Housing and the Austin Housing Finance Corp. has broken ground on Seabrook Square, a 204-unit affordable housing project in East Austin. Units will be reserved for households earning 60 percent or less of the area median income, and Seabrook Square will also house 3,000 square feet of commercial space. Financing for the project includes a $40 million tax-exempt bond issued by the City of Austin; $32.3 million in 4 percent Low-Income Housing Tax Credit (LIHTC) equity syndicated by Boston Financial; $13.5 million in subordinate debt financing from the Austin Housing Finance Corp.; and a $3.4 million construction loan from Citibank. Completion is slated for late 2025.