AUSTIN, TEXAS — Anthology Senior Living has announced plans to develop a 130-unit seniors housing community in North Austin. Anthology of The Arboretum will span 131,000 square feet and offer assisted living and memory care options. Units will be available in studio, one- and two-bedroom formats. Cadence McShane is the general contractor for the project, which is scheduled for completion in spring 2023.
CARROLLTON, TEXAS — Holt Lunsford Commercial has negotiated a 69,590-square-foot industrial lease at Valwood Trade Center in the northern Dallas metro of Carrollton. Andrew Gilbert and Keaton Brice of Holt Lunsford represented the landlord, Boston-based TA Realty, in the lease negotiations. Steven Berger of CBRE represented the tenant, crating and packaging firm DGM Services Inc.
DALLAS — Embroidery Graphix, a locally based company that manufactures personalized apparel, has signed a 12,649-square-foot industrial lease at 1489 Prudential Drive in northwest Dallas. Sean Smith, Brendan Zrowka and Lauren Pesqueda of Whitebox Real Estate represented the tenant in the lease negotiations. Jason Moser of Stream Realty Partners represented the undisclosed landlord.
By Paige Suvalsky, field research manager — Central Texas, CBRE; Rob Burlingame, senior vice president — Central Texas, CBRE; and Miller Hamrick, Texas industrial & logistics research lead, CBRE CBRE Research recently profiled Austin and San Antonio as an “emerging” industrial market along the Interstate 35 corridor in Central Texas. This region makes up much of the western portion of the “Texas Triangle”, a mega-region on a global scale that had an economic output of $1.5 trillion in 2021 and a population of just over 20 million people. The Texas Triangle represents a top 25 global economy, just ahead of Spain. The northern apex of the Texas Triangle, Dallas-Fort Worth (DFW), is projected to surpass Chicago by 2034-2035 to become the third-most populous urban region in the United States with a population of 9.4 million. This massive boom in population and business is driving the current rush to Central Texas and pushing regional and national developers to stake their claims in this growing market. Currently, about 5.5 million people live between the stretch of Texas from Laredo to Georgetown, and this area’s population is expected to grow by 10.8 percent over the next five years. According to data from the …
HOUSTON — Northmarq has arranged the sale of Urban Palms, a 659-unit apartment community in the Chinatown area of West Houston. The property was built in 1979 and renovated in 2017. Units feature energy-efficient appliances, washer/dryer connections and private balconies/patios. Amenities include two pools, a fitness center, business center, playground, grilling and picnic areas and onsite laundry facilities. Justin Chambers and Scott Lamontagne of Northmarq represented the Southern California-based seller and the undisclosed buyer in the transaction. Joel Heikenfeld, James Currell and Emily Balazik, who are also with Northmarq, arranged acquisition financing and joint venture equity for the deal.
ROWLETT, TEXAS — Seattle-based Weidner Apartment Homes has acquired Harmony Hill, a 644-unit multifamily development located in the northeastern Dallas suburb of Rowlett. The community offers one-, two- and three-bedroom units that are furnished with stainless steel appliances, granite countertops, tile backsplashes, built-in desks and covered balconies. Amenities include two pools, an entertainment and media room, fitness center, outdoor grilling stations, a coworking lounge, dog park, resident clubhouse and walking trails. Kevin O’Boyle of CBRE brokered the deal. The seller was Huffines Communities. The property traded off-market for an undisclosed price.
HOUSTON — Dallas-based investment firm Westmount Realty Capital has sold Westmount at Summer Cove, a 376-unit apartment community in southeast Houston. Units come in one- and two-bedroom formats and average 729 square feet. The amenity package comprises two pools, a playground, fitness center, leasing office with a coffee bar and open green spaces. Westmount acquired the asset in 2015 and implemented a value-add program that added features such as brushed nickel hardware, new lighting fixtures, resurfaced countertops and vinyl wood plank flooring. The buyer and sales price were not disclosed.
DALLAS — Anthology Senior Living will develop a 121-unit community in the Highland Park area of Dallas. Anthology of Highland Park will be an 11-story building with 97 assisted living residences and 24 memory care suites, available in studio, one-bedroom and two-bedroom configurations. The 144,000-square-foot community will be located within three miles of UT Southwestern Medical Center and within one mile of the Knox Street retail corridor. Cadence McShane is the general contractor for the project, which is scheduled for completion in spring 2023.
DALLAS — Lee & Associates has negotiated a 153,150-square-foot industrial lease at 2340 I-35 W. Service Road in Dallas. The crane-served building features 24-foot clear heights, 24 drive-in doors and 6.8 acres of outdoor storage space. Joseph Mullican and Brett Lewis of Lee & Associates represented the undisclosed tenant, which will occupy the entirety of the building, in the lease negotiations. The name and representative of the landlord were not disclosed.
FORT WORTH, TEXAS — Austin-based HPI Real Estate Services & Investments has acquired 55 acres in North Fort Worth for the development of an 829-unit residential community. Preliminary plans for the development call for 636 multifamily units and 193 single-family rental units with attached garages and yards. Amenities will include clubhouses, pools, pickleball courts and walking trails. Davidson Bogel Real Estate brokered the sale of the site, which is located at the corner of Bonds Ranch and Blue Mound roads. A construction timeline has not yet been established.