CARROLLTON, TEXAS — Lee & Associates has negotiated a 22,000-square-foot industrial lease at 1536 Hutton Drive in the northern Dallas suburb of Carrollton. According to LoopNet Inc. the property was built in 1986 and spans 89,560 square feet. Ken Wesson and Adam Graybill of Lee & Associates represented the landlord, EastGroup Properties, in the lease negotiations. The representative of the tenant, CMD Group, a provider of countertops for kitchens and bathrooms, was not disclosed.
HOUSTON — Locally based brokerage firm Davis Commercial Real Estate has arranged the sale of a 16,571-square-foot office building located at 800 Tully Road in West Houston. According to LoopNet Inc. the property was built on a half-acre lot in 1984. Ashley Casterlin of Davis Commercial represented the seller, American Savings Life Insurance Co., in the transaction. Independent realtor Marcela Banh represented the buyer, Advantis Investments Group LLC.
PARIS, TEXAS — Dallas-based brokerage firm The Multifamily Group (TMG) has negotiated the sale of The Pavilion, a 24-unit complex in Paris, located about 100 miles northeast of Dallas. According to Apartments.com, the property was built in 1984 and offers one- and two-bedroom units ranging in size from 750 to 950 square feet, as well as outdoor grilling and dining areas and a dog park. Chase Davis of TMG represented the buyer and seller, both of which requested anonymity, in the transaction.
CYPRESS, TEXAS — The Waller Independent School District (ISD) has acquired 19 acres within Bridgeland, a master-planned development in the northwestern Houston suburb of Cypress, with plans to build a new elementary school. A construction timeline for the school, which will serve about 850 students, has yet to be established. The Howard Hughes Corp. (NYSE: HHC) is the master developer of Bridgeland and sold the land to Waller ISD. A general contractor has not yet been appointed.
TOMBALL, TEXAS — New York-based investment firm Castle Lanterra Properties has purchased Laurel at Vintage Park, a 120-unit active adult community located in the northwestern Houston suburb of Tomball. Built on 5.5 acres in 2014, Laurel at Vintage Park features one- and two-bedroom units and amenities such as a clubhouse and a fitness center. John Sweeny, Aron Will, Scott Bray, Garrett Sacco, Clint Duncan, Matthew Phillips, Jock Naponic and Nolan Mainguy of CBRE represented the seller, Coastal Ridge, in the deal.
FORT WORTH, TEXAS — Swiss chocolate maker Läderach has signed a 42,282-square-foot industrial lease at AllianceTexas, Hillwood’s 27,000-acre master-planned development in North Fort Worth. Jeff Feste, Fred Ragsdale, Blake Rogers and J.M. Priddy of JLL represented Läderach in the lease negotiations. Reid Goetz and Samuel Rhea represented Hillwood on an internal basis.
COLLEYVILLE, TEXAS — Colliers has brokered the sale of Colleyville Square Business Park, a 23,980-square-foot office complex located on the northeastern outskirts of Fort Worth. The property comprises four buildings at 6211 Colleyville Blvd. Cody Payne of Colliers represented the seller, a private investor, in the off-market transaction. The buyer was also a private investor who requested anonymity.
AUSTIN, TEXAS — Locally based investment firm Door Capital Partners has acquired a 6,991-square-foot retail strip center located at 3701 Guadalupe St. near the University of Texas at Austin. Built in 1976, the property was fully leased at the time of sale to Domino’s, Walgreens, Smile Haus, Body Brite and Evo Performance. C.W. Sheehan, Kaitlin Kane and Hunt Wood of JLL arranged acquisition financing on behalf of Door Capital Partners. Chris Gerard and Jack Copher, also with JLL, represented the undisclosed seller in the disposition.
AUSTIN, TEXAS — Austin-based Inspire Development has begun construction of Pearson Ranch, a $2 billion, 156-acre mixed use project located just off State Highway 45 in northwest Austin. The master plan for the project includes 48 acres of land for a corporate campus, including 2.6 million square feet of office space. Upon completion, the mixed-use property will also include approximately 200,000 square feet of retail, restaurant and community/cultural spaces; two hotels; thousands of residential units; and 30 acres of parks and green space. Phase I of Pearson Ranch will center on The Eden, an apartment community that will feature 306 one-, two- and three-bedroom units that will range in size from 672 to 1,511 square feet. Residences will be furnished with technology such as smart locks and thermostats, gas appliances, built-in kitchen islands with quartz countertops and in-unit washers and dryers. Residents will have access to amenities such as a fitness center, rooftop deck, coworking lounge, golf simulator, dog spa, community gardens, a three-acre park and a pool area with barbeque grills, day beds, cabanas and a bocce ball court. The general contractor for The Eden is NRP Group. The project’s architect is Austin-based Davies Collaborative. Vertical construction on The …
HOUSTON — Cushman & Wakefield has negotiated a 226,287-square-foot office lease renewal in Houston’s Energy Corridor area for global engineering firm Wood Group USA. The tenant will continue to occupy the entirety of Westgate III, a four-story building that was originally constructed in 2014 and is located within the 550-acre Park Ten Business Center. Kevin Snodgrass, Trey Strake and Megan Madorsky of Cushman & Wakefield represented Wood Group USA in the lease negotiations. Chip Colvill, also with Cushman & Wakefield, along with Cameron Colvill of Whitebox Real Estate, represented the landlord, Griffin Partners.