HOUSTON — Engineering and construction firm CTCI Americas Inc. has signed a 49,662-square-foot office lease at 15721 Park Row in Houston’s Energy Corridor. The six-story, 145,000-square-foot building offers a tenant lounge, conference facilities and an outdoor collaboration area. Josh Morrow of Avison Young represented the tenant in the lease negotiations. Steve Rocher, Parker Duffie and Jenny Mueller of CBRE represented the landlord, BH Properties.
BEAUMONT, TEXAS — Texas Oncology will open a 32,000-square-foot cancer care center on the Christus Southeast Texas St. Elizabeth medical campus in Beaumont. The center will provide medical oncology, radiation oncology, gynecologic oncology, chemotherapy, genetic counseling and lab services. Cottonwood Development is developing the facility, with McCarthy Building Cos. serving as general contractor. Construction is underway, and the center is scheduled to open in spring 2023.
By Al Silva, senior managing director, investments, Marcus & Millichap; and Ford Braly, first vice president, investments, Marcus & Millichap The multifamily segment in Fort Worth is in a great position. The metro’s vacancy rate slid down to a multi-decade low of 3.1 percent last year, which facilitated stellar rent growth as the number of available rental units plummeted. Fort Worth’s average effective rent grew more than 15 percent in 2021 to $1,276 per month, and the elevation in 2022 is expected to remain in the double digits. Behind this momentum is robust household formation as citizens relocate to the metro for greater job availability, cost-of-living considerations and quality of life. An average of 16,300 new households were created annually in the Fort Worth metro area over the past decade, and the 2022 addition is expected to eclipse that benchmark by about 20 percent. This rate of household creation is about twice as fast as the national pace and is happening at a time in which the barriers to homeownership have rapidly intensified, pushing much of the new demand toward the rental segment. Barriers to Homeownership The median price of a single-family house in the Fort Worth area climbed to …
EL PASO, TEXAS — Kansas City-based developer VanTrust Real Estate has broken ground on Phase II of El Paso Logistics Park, a project that will add 483,698 square feet of Class A industrial space across two buildings to the local supply. VanTrust completed Phase I of the 59-acre development in February. Each building will feature 32-foot clear heights, 52 dock positions, ESFR sprinkler systems and parking for more than 150 cars and 85 trailers. Upon completion of Phase II in April 2023, El Paso Logistics Park will total nearly 1 million square feet across six buildings. CBRE is leasing the development.
FORT WORTH, TEXAS — Steel products provider Andes Coil Processors will open a 151,693-square-foot manufacturing facility in Fort Worth. The facility will be situated within the 64-acre Sylvania Industrial Park, which is located at the site of former American Manufacturing of Texas plant on the city’s north side. Andes Coil Processors plans to hire 30 to 50 new employees as part of a $5 million capital investment in the local economy. Dallas-based CanTex Capital acquired Sylvania Industrial Park in December, and the space is now ready for occupancy.
PLANO, TEXAS — Cheer Athletics, which provides instructional cheerleading classes and camps, will relocate its corporate headquarters and flagship gym to a 70,045-square-foot space within Plano Commerce Center. With the move, which should occur before the end of the year, Cheer Athletics will be doubling its footprint within the northern Dallas suburb. Allison Johnston Frizzo and David Harris of Hart Commercial represented Cheer Athletics in lease negotiations. Mike McCartan and Jeff White of Mark V Commercial represented the landlord, Provident Realty Advisors.
HOUSTON — NAI Partners has brokered the sale of a 23,781-square-foot industrial building located at 7522 S. Santa Fe Drive on Houston’s south side. According to LoopNet Inc., the property was built in 1962. Zane Carman and Clay Pritchett of NAI Partners represented the buyer, The New Generation Engineering & Construction Co., in the transaction. David Munson and Garrett Thomas of Boyd Commercial represented the undisclosed seller.
DALLAS — Multifamily investment and management firm RPM Living has signed a 16,403-square-foot office lease at Preston Commons, a 427,799-square-foot office park in North Dallas that is owned by California-based KBS. The three-building campus offers a health and wellness center, multiple dining options, business lounge, open-air courtyard with Wi-Fi and an upgraded lobby. Alexandra Cullins, Dennis Barnes and Jackie Marshall of CBRE represented KBS in the lease negotiations.
SAN MARCOS, TEXAS — Kalterra Capital Partners is underway on construction of The Dylan, a 249-unit apartment community in the Central Texas city of San Marcos. The site is adjacent to McCarty Commons, which the Dallas-based developer sold in 2021. Units will come in one-, two- and three-bedroom floor plans and will be furnished with granite countertops, stainless steel appliances and private patios/balconies. Residences will range in size from 675 to 1,415 square feet. Amenities will include a pool, fitness center, volleyball court and open green space. Kalterra expects to deliver the property in the second quarter of 2023.
ROUND ROCK, TEXAS — Ohio-based Coastal Ridge Real Estate, in a joint venture with Halstatt Real Estate Partners, will develop a 225-unit build-to-rent residential community in the northern Austin suburb of Round Rock. The site spans 20 acres within the 1,200-acre Avery Centre mixed-use development. The development will feature one-, two- and three-bedroom homes, and amenities will include a pool, resident clubhouse, walking trails, outdoor seating areas and a fitness center. Coastal Ridge will operate the community under its Stillwell brand. A formal groundbreaking ceremony will take place on Tuesday, July 19.