TERRELL, TEXAS — Kansas City-based developer VanTrust Real Estate has acquired two industrial development sites totaling 60.4 acres in Terrell, an eastern suburb of Dallas. The company plans to develop two speculative buildings totaling 702,000 square feet. Building 1 will be a 196,560-square-foot, rear-load facility. Building 2 will total 505,440 square feet and feature a cross-dock configuration. Both buildings will be marketed to e-commerce and third-party logistics users alike. Demian Salmon of Stream Realty Partners represented the undisclosed seller in the land deal. A construction timeline was not disclosed.
TAYLOR, TEXAS — Forman Capital, a direct lender based in Florida, has provided a $19.5 million construction loan and a preferred equity investment for Castlewood Townhomes. The 64-unit multifamily project will be located in Taylor, about 35 miles northwest of Austin. The borrower, Townbridge Capital, plans to develop three- and four-bedroom townhomes that will range in size from 1,500 to 1,900 square feet. Residences will feature detached two-car garages, quartz countertops, stainless steel appliances and various pieces of smart technology. A construction timeline was not disclosed.
SUGAR LAND, TEXAS — Marcus & Millichap has brokered the sale of Sugar Land RV/Boat & Self Storage, a facility located on the southwestern outskirts of Houston. Built on six acres in 1999, the property consists of 304 non-climate-controlled units, one warehouse/workshop space, eight covered parking spots and six outdoor parking spaces for a total of 95,942 net rentable square feet. Dave Knobler of Marcus & Millichap represented the seller, a private investor, in the transaction and procured the buyer, a New York-based limited liability company. Both parties requested anonymity.
DALLAS — SRS Real Estate Partners has arranged the $6 million sale of a single-tenant, 5,000-square-foot medical retail property in South Dallas that is net-leased to Total Point Urgent Care. Britt Raymond and Kyle Fant of SRS represented the seller, a Kansas-based investor, in the transaction. The buyer was a Florida-based private investor that acquired the asset via a 1031 exchange. The property traded at a cap rate of 6.6 percent.
DALLAS — Holt Lunsford Commercial has negotiated a 49,280-square-foot industrial lease renewal in West Dallas. Canon Shoults and Maddy Canty of Holt Lunsford represented the landlord, AEW Capital Management, in the lease negotiations. Jim Svidron with NAI Robert Lynn represented the tenant, Production & Rigging Resources Inc., which provides logistical services for the entertainment industry.
FORT WORTH, TEXAS — Southwire, a manufacturer of wire and cable used in the transmission and distribution of electricity, has signed a 1.2 million-square-foot industrial lease at AllianceTexas in North Fort Worth. Southwire will occupy the entirety of Alliance Westport 25, which was originally launched as a 1 million-square-foot speculative building in August 2022 and is now being expanded to meet Southwire’s requirements. GSR Andrade Architects designed Alliance Westport 25. Sean Boswell and Chris Teesdale of Colliers represented Southwire in the lease negotiations. Reid Goetz, Samuel Rhea and Jack Barkley represented the landlord, Hillwood, on an internal basis.
LAREDO, TEXAS — Kansas City-based VanTrust Real Estate will develop a 432,000-square-foot industrial project in the Rio Grande Valley city of Laredo. The speculative structure will be located within North Laredo Industrial Park, which is adjacent to I-35 and the Port of Laredo. Completion of the project, which is expected to be the first of multiple buildings that VanTrust will add to the park, is slated for October 2024. White Ark Enterprises owns North Laredo Industrial Park.
FREEPORT, TEXAS — Marcus & Millichap has brokered the sale of Blue Water Self Storage, a 295-unit facility in Freeport, located about 60 miles south of Houston. The seven-building facility was built on 8.2 acres in 1999 and spans 56,600 net rentable square feet. Dave Knobler of Marcus & Millichap represented the seller, a locally based limited partnership, in the transaction. Knobler also procured the buyer, a New York-based limited liability company. Both parties requested anonymity.
KERRVILLE, TEXAS — California-based brokerage firm Matthews Real Estate Investment Services has arranged the sale of Sidney Baker Apartments, a 60-unit multifamily complex in Kerrville, about 65 miles northwest of San Antonio. Units feature one-, two- and three-bedroom floor plans, and amenities include a pool and a pet park. Tyler Marshall of Matthews represented the undisclosed buyer in the transaction. The seller was also not disclosed.
DALLAS — The Cheesecake Factory will open a 9,700-square-foot restaurant at The Shops at Highland Village in Dallas. The opening is slated for the fourth quarter. Vince O’Toole of JLL represented the landlord, Poag Development Group, in the lease negotiations. Marc Guth of Blateiss & Schnur represented The Cheesecake Factory. Three new tenants — children’s playland Cheeky Monkeys, Lovesac and Sleep Number — have also either opened recently at The Shops at Highland Village or will do so in the fall.