SAN ANTONIO — Northmarq has arranged the sale of The VUE, a 91-unit apartment complex in San Antonio’s Vance Jackson neighborhood. The nine-story building offers one-, two- and three-bedroom units that are furnished with stainless steel appliances, balconies and washer/dryer connections. Amenities include a pool, fitness center, business center, resident lounge, coffee bar and a package locker system. Moses Siller of Northmarq represented the seller, Mission DG, in the transaction. The buyer and sales price were not disclosed.
ADDISON, TEXAS — Holt Lunsford Commercial has negotiated a 20,891-square-foot office lease renewal in the northern Dallas suburb of Addison. Foundation Energy Management, which acquires, develops and enhances domestic oil and gas properties, is recommitting to Liberty Plaza, a two-building, 218,934-square-foot complex. Tyler Howarth of Holt Lunsford represented the landlord, Franklin Street Properties Corp., in the lease negotiations. The tenant representative was not disclosed
KATY, TEXAS — Activate Games, a retail concept that features tech-based physical and mental interactive competition, will open a 9,600-square-foot entertainment center in the western Houston suburb of Katy. The location at Katy Fry Center will be the fourth in the country for Activate Games, which also plans to open a center in Dallas later this year. Michael Burgower and Eric Lestin of Cushman & Wakefield represented the tenant in the lease negotiations. Dianne Rummage of SClay Management Inc. represented the landlord.
AUSTIN, TEXAS — Northmarq has arranged the sale of Red River Apartments, a 30-unit multifamily complex in Austin’s Cherrywood neighborhood. The property was built in 1963 and renovated in phases between 2017 and 2022. Capital improvements included new bathrooms, flooring, countertops and backsplashes in unit interiors, as well as various upgrades to the exterior of the three-story building. Hayden Schnieders of Northmarq brokered the sale of the property. Cheryl Higley, also with Northmarq, provided a five-year, fixed-rate Fannie Mae acquisition loan. The buyer and seller were not disclosed. Red River Apartments was fully leased at the time of sale.
ADDISON, TEXAS — Corporate Fitness Solutions has signed an 8,385-square-foot industrial lease renewal in the northern Dallas suburb of Addison. According to LoopNet Inc., the property at 4950 Keller Springs Road was built in 1980 and totals 60,118 square feet. Adam Curran of Cushman & Wakefield represented the tenant in the lease negotiations. Brian Pafford of Bradford Commercial Real Estate Services represented the landlord, an entity doing business as Kennington Parkway Ltd.
DALLAS — Corner Bakery, a national restaurant chain based in Dallas, has filed for Chapter 11 bankruptcy protection in the Delaware Bankruptcy Court after defaulting on its loans last year, according to reports from multiple media outlets, including The Dallas Morning News. The chain cited its reliance on traditional office workers seeking fast casual or grab-and-go meals, which has yet to return to pre-pandemic levels in many areas, as a key driver behind the move. Philadelphia-based Pandya Restaurant Growth Brands purchased Corner Bakery, which currently operates 140 locations in 20 states, in October 2020. Prior to its acquisition by Pandya, the chain was owned by Atlanta-based private equity firm Roark Capital Group.
DALLAS — Locally based development and investment firm OliveMill Holdings has begun renovations on a 240,000-square-foot office building located at 2801 N. Central Expressway in North Dallas. The 18-story building was originally developed in 2015 as the headquarters office for advertising agency The Richards Group. Capital improvements will include upgrades of the ground floor, bathrooms, lobby and elevators, as well as a rebranding of the property as One West Village. Gensler is designing the project, which is slated for completion this summer. OliveMill Holdings owns the building in partnership with Angelo Gordon and Hunt Realty Investments.
DALLAS — Locally based developer Mintwood Real Estate has broken ground on Oakhouse, a 219-unit mixed-income residential project that will be located in the Oak Cliff area of Dallas. Mintwood is developing the project in partnership with Mirasol Capital and New York City-based MSquared. Approximately half the units will be reserved for households earning 80 percent or less of the area median income. Amenities will include a pool, fitness center, dog park, children’s play area and a resident lounge. WDG Associates is the designing the project, and Rogers O’Brien is the general contractor. Independent Financial provided construction financing. Completion is slated for late summer 2024.
AUSTIN, TEXAS — Northmarq has arranged the sale of Red River Apartments, a 30-unit multifamily complex in Austin’s Cherrywood neighborhood. The property was built in 1963 and renovated in phases between 2017 and 2022. Capital improvements included new bathrooms, flooring, countertops and backsplashes in unit interiors, as well as various upgrades to the exterior of the three-story building. Hayden Schnieders of Northmarq brokered the sale of the property. Cheryl Higley, also with Northmarq, provided a five-year, fixed-rate Fannie Mae acquisition loan. The buyer and seller were not disclosed. Red River Apartments was fully leased at the time of sale.
ADDISON, TEXAS — Corporate Fitness Solutions has signed an 8,385-square-foot industrial lease renewal in the northern Dallas suburb of Addison. According to LoopNet Inc., the property at 4950 Keller Springs Road was built in 1980 and totals 60,118 square feet. Adam Curran of Cushman & Wakefield represented the tenant in the lease negotiations. Brian Pafford of Bradford Commercial Real Estate Services represented the landlord, an entity doing business as Kennington Parkway Ltd.