Tuesday, October 1, 2024
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AcquisitionsMultifamilyTexas

Viking Capital Acquires 252-Unit Villas at Sundance Apartments in New Braunfels, Texas

by Taylor Williams

NEW BRAUNFELS, TEXAS — Viking Capital, an investment firm based in Northern Virginia, has acquired Villas at Sundance, a 252-unit apartment community located northeast of San Antonio in New Braunfels. Built in 2012, Villas at Sundance features one- and two-bedroom units with an average size of 931 square feet. Amenities include a pool, fitness center, business center, grilling stations, a lounge and a pet play area. Affiliates of Maryland-based Railfield Partners sold the property for an undisclosed price. Will Balthrope and Drew Garza of Institutional Property Advisors, along with Ben Kalter of parent company Marcus & Millichap, brokered the deal.

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AcquisitionsMultifamilyTexas

Marcus & Millichap Brokers Sale of 76-Unit Lakeside Village Apartments in Wylie, Texas

by Taylor Williams

WYLIE, TEXAS — Marcus & Millichap has brokered the sale of Lakeside Village, a 76-unit apartment complex in Wylie, a northeastern suburb of Dallas. The property was built on 2.1 acres in 1981 and offers one- and two-bedroom units. Nick Fluellen, Bard Hoover and Chris Pearson of Marcus & Millichap represented the seller and procured the buyer, both of which were limited liability companies, in the transaction.

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AcquisitionsMultifamilySeniors HousingTexas

Blueprint Arranges Sale of 52-Unit Seniors Housing Property in Oklahoma City

by Taylor Williams

OKLAHOMA CITY — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 52-unit seniors housing property in Oklahoma City. The unnamed property, which opened in 2000 and was 99 percent occupied at the time of sale, offers assisted living and memory care services. The seller was a national developer and investor, and the buyer was a regional owner-operator. Both parties requested anonymity. Giancarlo Riso, Amy Sitzman and Alex Florea of Blueprint brokered the deal.

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Leasing ActivityRetailTexas

The Picklr Opens 28,016 SF Athletic Facility at Eldorado Plaza in McKinney, Texas

by Taylor Williams

MCKINNEY, TEXAS — The Picklr has opened a 28,016-square-foot athletic facility in the northern Dallas suburb of McKinney. The pickleball-based entertainment concept is taking space at Eldorado Plaza, a grocery-anchored development (Trader Joe’s), and the venue will feature nine full-sized courts and one warm-up court. Houston-based Whitestone REIT owns Eldorado Plaza, which is also home to tenants such as Starbucks, Hollywood Feed and Christina’s Mexican Restaurant.

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Leasing ActivityOfficeTexas

Boston Consulting Group Signs 4,925 SF Office Lease in Downtown Houston

by Taylor Williams

HOUSTON — Boston Consulting Group has signed a 4,925-square-foot office lease in downtown Houston. The management consulting firm is taking space at 1550 on the Green, a 28-story, 375,000-square-foot building owned by Skanska. The lease term is 12 years, and the building is now 48 percent leased. Boston Consulting Group plans to take occupancy of its space in the fourth quarter of 2025.

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DevelopmentMixed-UseTexas

Capitalize Ventures Receives Zoning Approval for $300M Mixed-Use Project in Prosper, Texas

by Taylor Williams

PROSPER, TEXAS — Locally based developer Capitalize Ventures has received zoning approval from the Town of Prosper, about 40 miles north of Dallas, for a mixed-use project that is valued at roughly $300 million and will be known as Prosper Arts District. The 35-acre site is located at the northwest corner of Dallas North Tollway and Prosper Trail. Preliminary plans call for 515 multifamily units, three hotels and a retail village centered around a water feature display, to be developed in four phases. Phase I, which will include the development of core infrastructure, a sports-themed hotel, retail space and a parking garage, is set to begin later this year and to be complete in 2026. Gensler is leading the design of Prosper Arts District, which is ultimately expected to create about 400 full-time jobs and generate more than $1 billion in economic impact for the region.

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AcquisitionsIndustrialTexas

Black Salmon Buys 493,688 SF Spec Industrial Project in San Antonio

by Taylor Williams

SAN ANTONIO — Miami-based investment firm Black Salmon has purchased Interchange at Live Oak, a 493,688-square-foot speculative industrial project in San Antonio. The development, which is under construction and slated for an early 2025 completion, will ultimately consist of four rear-load buildings. Black Salmon acquired the property in partnership with Chicago-based investment firm Stotan Industrial. The seller and sales price were not disclosed. 

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Leasing ActivityRetailTexas

Netflix to Open Entertainment Venue at Galleria Shopping Center in Dallas

by Taylor Williams

DALLAS — Netflix will open an entertainment venue within an anchor space at Galleria Dallas, a 1.9. million-square-foot shopping center in Dallas. Dubbed Netflix House, the establishment will feature immersive experiences, retail offerings and food-and-beverage concepts. Construction is currently underway on two floors of the property to house the venue, which is scheduled to open in fall 2025. According to Netflix, the venue will occupy a former department store space and span more than 100,000 square feet. MetLife Investment Management owns Galleria Dallas, and Trademark Property Co. manages the property.

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Leasing ActivityRestaurantRetailTexas

Five Retailers, Restaurants Debut Venues at Post Oak Plaza in Houston

by Taylor Williams

HOUSTON — Five retailers and restaurants have debuted their new venues at Post Oak Plaza in Houston. Luxury mattress retailer Saatva and appliance provider Bosch/Thermador/Gaggenau have respectively opened a 4,000-square-foot store and 14,777-square-foot showroom at the 503,000-square-foot center. In addition, restaurants Local Foods (3,016 square feet), Tacodeli (2,883 square feet) and Rakkan Ramen (1,856 square feet) are now open. Locally based developer Levcor owns Post Oak Plaza. These tenants were announced in April and November 2023.

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Leasing ActivityOfficeTexas

The Mind Spot Signs 3,148 SF Office Lease in West Houston

by Taylor Williams

HOUSTON — The Mind Spot, a provider of mental health services, has signed a 3,148-square-foot office lease in West Houston. According to LoopNet Inc., the building at 3000 Weslayan St. was built in 1979 and totals 81,505 square feet. Ray Lopez of Colliers represented the tenant in the lease negotiations. William Stone of Cushman & Wakefield represented the undisclosed landlord.

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