DALLAS — Tax advisory firm Grant Thornton has signed a 24,600-square-foot office lease at Ross Tower in downtown Dallas. The 45-story building houses a food hall, fine dining restaurant Dakota’s Steakhouse and a Starbucks, as well as built-in conference facilities and a tenant lounge. Travis Boothe and Robbie Baty of Cushman & Wakefield represented Grant Thornton in the lease negotiations. Hunter Lee, Ben Cuzen and Luke Aviles represented the landlord, HPI Real Estate Services & Investments, on an internal basis.
CELINA, TEXAS — Centurion American Development Group has broken ground on Legacy Hills, a mixed-use, master-planned development that will span approximately 3,200 acres in the North Texas city of Celina. The site is located at the corner of Legacy Drive and Celina Parkway, about 40 miles north of downtown Dallas. Legacy Hills will feature more than 10,000 residential units, with current plans calling for about 7,000 single-family homes and 4,100 multifamily units. The commercial component will encompass 100 acres and will include retail, restaurant and entertainment space, though other uses within that portion of the project have not yet been announced. In addition, Centurion American has earmarked two 12-acre parcels as future sites of schools within the Celina Independent School District, as well as two seven-acre tracts that will house fire and police stations. A network of hiking and biking trails will link various pieces of the development, and Centurion has allocated 27 acres for the City of Celina to develop into a sports park. Lastly, a championship golf course, complete with a driving range, putting green and clubhouse, will run through the center of the site. The single-family homes will be spread across seven subdivisions, each of which will …
HOUSTON — Tampa-based multifamily investment firm American Landmark has acquired H6, a 293-unit apartment community in Houston’s Energy Corridor area. Built in 2016, the property offers one- and two-bedroom units ranging in size from 475 to 1,444 square feet. Apartments feature stainless steel appliances, European cabinetry, granite countertops, washers and dryers and private balconies. Amenities include a pool, fitness center, game room, business center and a Zen garden. The seller was not disclosed. American Landmark has subsequently rebranded the community as Neo at Ten.
PASADENA, TEXAS — NAI Partners has negotiated a 295,134-square-foot industrial lease at Bayport South Business Park, which is located near Port Houston in Pasadena. According to propertyshark.com, the development was built on 41.5 acres in 2020 and totals 642,994 square feet. Chris Haro of NAI Partners represented the tenant, freight transit company Frederick Trucking, in the lease negotiations. Richard Quarles, March Nicholas and Jarret Venghaus of JLL represented the undisclosed landlord.
MCKINNEY, TEXAS — Metro Philadelphia-based investment firm Morgan Properties has purchased parcHaus at Skyline, a 136-unit single-family rental community located on the northern outskirts of Dallas in McKinney. The newly built community features one-, two- and three-bedroom homes with garages and private backyards. The amenity package comprises a pickleball court, pool, dog park and a business center. Dallas-based Provident Realty Advisors sold the property for an undisclosed price. Morgan Properties has rebranded the community as Elevate at Skyline.
MOORE, OKLA. — SRS Real Estate Partners has arranged the $10 million sale of a 53,872-square-foot shopping center in Moore, a southern suburb of Oklahoma City. The property was built on 5.5 acres in 2018 and was 93 percent leased at the time of sale to tenants including Ulta Beauty and Burlington. Chris Tramontano and Aaron Johnson of SRS represented the seller, an entity doing business as BlueCiel Oklahoma LLC. Agree Realty, a publicly traded REIT, purchased the asset.
FORT WORTH, TEXAS — Locally based developer The Woodmont Co. has broken ground on a 41,217-square-foot medical office building in Fort Worth. The Diabetic & Thyroid Center of Fort Worth will occupy 14,000 square feet of the property, which was designed by Bennett Benner Partners and will be built by Dennett Construction. The site includes an additional pad site for development and lease. Construction is slated for a January 2023 completion. Dodson Commercial Real Estate has been tapped to lease the remaining space.
By Andy Moreno, director of operations, MIMCO; and McGee Sauls, senior vice president, MIMCO Historically, the El Paso market has often been overlooked, primarily due to its distance from other major Texas markets. However, that sentiment is shifting rapidly due to strong economic and population growth. While an accurate figure is difficult to pin down, the number of new entries and expanding franchises within the market has exploded in recent years. “As recently as 2015, national and regional operators were only beginning to recognize the sales potential of the El Paso market and just how underserved the growing population had become,” states Scott Walker, president of MIMCO. “Competition was limited, which led to advantages for existing operators. The landscape shifted dramatically due to the pandemic; since the second quarter of 2020, new retail categories have become active,” he continues. “Marketing quality sites generally leads to multiple offers from competing operators including car washes, lube shops, coffee shops and quick-service restaurants. We love to see this variety move into our market and drive competition for the next great location.” Market competition is advantageous and a key driver of innovation. Retailers use competition to discover and adopt the most efficient processes that …
FRISCO, TEXAS — The Teachers Insurance and Annuity Association (TIAA) will open a corporate center in Frisco, a move that is expected to create about 2,000 new jobs and constitute a capital investment of approximately $58 million. The site will be located within The Star, the Dallas Cowboys’ 91-acre headquarters and training campus. Founded in 1918, TIAA provides insurance and financial services to employees in the academic, research, medical and governmental fields. The organization, which did not provide a timeline for the move, cited the workforce demographics of North Texas, as well as the amenities at The Star, as major factors behind its specific site selection.
DALLAS — Global investment firm KKR has acquired TCC Altamoore, an approximately 616,000-square-foot industrial park in Dallas, from Trammell Crow Co. for an undisclosed price. Built in 2021, TCC Altamoore consists of a 298,168-square-foot building and a 206,917-square-foot building that are fully leased to undisclosed, publicly traded companies. The third building spans 110,960 square feet and is currently being marketed for lease. Randy Baird, Jonathan Bryan, Ryan Thornton and Eliza Bachhuber of CBRE brokered the deal on behalf of Trammell Crow Co.